Updated September 29, 2026 · DebitCue Editorial Team
HSBC Classic Credit Card vs Monzo Flex
HSBC Classic Credit Card
Higher score in this comparison
Monzo Flex
What sets them apart
| Compare | HSBC Classic Credit CardReviewSee alternativesSee alternatives | Monzo FlexReviewSee alternativesSee alternatives |
|---|---|---|
| APR | 29.9% | 29%Lower |
| Currency conversion fee | 2.99% | 0%Lower |
| Perks | Purchase protection under section 75 of the Consumer Credit Act for purchases of £100 to £30,000, Contactless payments, Add the card to Apple Pay or Google Pay from the HSBC UK Mobile Banking app, Offers and discounts via homeandaway.hsbc.com, Freeze and unfreeze the card and check the balance in the app or online banking, Credit limit of up to £1,000, may be increased automatically | 0% interest over 3 months on purchases of GBP 100 or more, repeatable, 0% interest if you pay in full, No overseas fees (Mastercard exchange rate only), Section 75 purchase protection, Credit limit up to GBP 10,000, Flex purchases from up to 2 weeks ago, Instant notifications and real time balance updates, Separate paid card: Aura (GBP 15 a month) adds 1% cashback on groceries, 0.5% on everything else uncapped, auto invested cashback, Apple TV, Google AI Plus, 2 airport lounge and 2 fast track passes a year |
| Balance transfer intro period | 17 to 36 months | Not confirmed |
| Balance transfer fee | 3.09% to 3.49% | Not confirmed |
Same on both: Annual fee (£0), Rewards type (None), Card kind (Credit).
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Key differences
- HSBC Classic Credit Card scores higher overall: 9.4 vs 8.8.
- Founded is lower at HSBC Classic Credit Card: 1836 vs 2015.
- APR is lower at Monzo Flex: 29% vs 29.9%.
- Currency conversion fee is lower at Monzo Flex: 0% vs 2.99%.
- Perks: only HSBC Classic Credit Card offers Purchase protection under section 75 of the Consumer Credit Act for purchases of £100 to £30,000, Contactless payments, Add the card to Apple Pay or Google Pay from the HSBC UK Mobile Banking app.
- Perks: only Monzo Flex offers 0% interest over 3 months on purchases of GBP 100 or more, repeatable, 0% interest if you pay in full, No overseas fees (Mastercard exchange rate only).
- Support channels: only HSBC Classic Credit Card offers Phone.
- Features: only HSBC Classic Credit Card offers Multi currency.
- Features: only Monzo Flex offers Virtual card.
- Audience: only Monzo Flex offers Kids.
Our verdict on each
HSBC Classic Credit Card
The HSBC Classic Credit Card suits anyone in the UK who wants a plain credit card with purchase protection under the Consumer Credit Act and no rewards to track. The annual fee is £0, while borrowing costs sit at an APR of 29.9%, the real cost to watch.
Monzo Flex
Monzo Flex suits UK adults who pay their balance in full and want a credit card with no annual fee, no overseas conversion fee and an interest free window on larger buys. The number to weigh is the rate on anything left unpaid: 29%, above the site median of 20.97%.
Score breakdown
| Area | HSBC Classic Credit Card | Monzo Flex |
|---|---|---|
| Cost | 8.7Cost rests on borrowing and foreign spend: an APR of 29.9% and a currency conversion fee of 2.99% outweigh a fee free holding cost. | 9.1Higher29% sits above the site median of 20.97% and the credit median of 20.85%, offset by no £0 and no 0%. |
| Offer | 9.4Higher | 9.3 |
| Trust | 10.0Higher | 8.3 |
How they place
| Ranking | HSBC Classic Credit Card | Monzo Flex |
|---|---|---|
| Debit cards | 89 of 1336 | 294 of 1336 |
| Credit cards | 88 of 1020 | 269 of 1020 |
| Business debit cards | 21 of 201 | 89 of 201 |
| Travel cards | 54 of 443 | 222 of 443 |
Every fact side by side
| Fact | HSBC Classic Credit Card | Monzo Flex |
|---|---|---|
| Pricing model | No annual fee | No annual fee |
| Features | Multi currency, Travel | Virtual card, Travel |
| Audience | Business | Kids, BusinessCovers more |
| Legal entity | HSBC UK Bank plc | Monzo Bank Limited |
| Headquarters | United Kingdom | United Kingdom |
| Founded | 1836Lower | 2015 |
| Support channels | Phone, Chat, Help centreCovers more | Help centre, Chat |
Debit cards
| Fact | HSBC Classic Credit Card | Monzo Flex |
|---|---|---|
| Monthly fee | £0 | £0 |
| Free ATM withdrawals | Not confirmed | £200 |
| Card type | Debit | Debit |
| Card network | Visa | Mastercard |
| Currencies | Not confirmed | 38 |
Where each stands against the rest
| Fact | HSBC Classic Credit Card | Monzo Flex | Median |
|---|---|---|---|
| Annual fee | £0at the median | £0at the median | £0 |
| APR | 29.9%highest quarter | 29%highest quarter | 19.39% |
| Currency conversion fee | 2.99%highest quarter | 0%below the median | 1% |
| Balance transfer intro period | 17 to 36 monthshighest quarter | Not confirmed | 15 |
| Balance transfer fee | 3.09% to 3.49%above the median | Not confirmed | 3 |
Median across 312 listed cards.
Pros and cons
HSBC Classic Credit Card
Pros
- The annual fee is £0, and the Varo Believe Secured Credit Card charges $0 with the Chime Card (Secured Visa Credit Card) at $0, so a yearly charge does not decide between them.
- Purchase protection under the Consumer Credit Act comes as standard, joined by contactless payments and the option to add the card to Apple Pay or Google Pay.
- Support runs on phone, chat and help centre, so phone, chat and a help centre are all available.
Cons
- The APR is 29.9% in the UK, well above the site median of 20.97%, so a carried balance is expensive.
- Currency conversion costs 2.99% on foreign purchases, while the Wise card charges 0%.
- The rewards type is none, so spending earns nothing back, and 49.5% of the cards on the site do pay cashback.
Monzo Flex
Pros
- Nothing to pay for holding it: an annual fee of £0 and a monthly fee of £0, ranking 1 of 301 brands on annual fee.
- Nothing added for spending abroad either, with a currency conversion fee of 0% against a site median of 1%.
- Interest free when the balance is paid in full, plus a repeatable interest free window on larger purchases, so 29% only bites on carried balances.
Cons
- 29% is the weak point, sitting above the site median of 20.97% and the credit category median of 20.85%, so any carried balance costs more than most.
- Rewards type is none on the card itself, so no cashback, points or miles come with it and the cashback sits on the paid Aura card.
- Support runs on help centre and chat only, so there is no phone channel listed for urgent disputes.
Who each suits
HSBC Classic Credit Card
Who it suits
- People who pay the balance in full each month and want no yearly charge: the card's audience is business, and 66.1% of the cards on the site share that aim.
- Anyone who wants purchase protection under the Consumer Credit Act and phone, chat and help centre support on the same card.
- Borrowers clearing an existing balance inside the interest free transfer window of 17 to 36.
Who should look elsewhere
- Not for regular overseas spending: the Wise card charges a currency conversion fee of 0% against 2.99% here.
- Not a first credit card. 45.7% of the cards on the site serve applicants with poor credit, so the Chime Card (Secured Visa Credit Card), with an annual fee of $0, is the secured route to weigh.
- Not for reward hunters, since the rewards type is none. A cashback card serves better, and the Varo Believe Secured Credit Card, with an annual fee of $0, is a secured comparison rather than a rewards one.
Monzo Flex
Who it suits
- People who clear the balance every month and want an interest free window without an annual fee.
- UK residents who spend abroad regularly, since 0% applies to the conversion and the card runs on mastercard.
- Households and small businesses: kids and business are the audiences the account is listed for, and the ATM allowance suits a shared setup.
Who should look elsewhere
- Borrowers who will carry a balance month to month: Monzo Flex charges 29%, while Starling Personal Account Debit Card charges 15% on its overdraft.
- Anyone after a secured card rather than a Monzo Flex credit limit: Varo Believe Secured Credit Card and Chime Card (Secured Visa Credit Card) each carry an annual fee of $0 and $0.
- Readers who would rather hold a balance than owe one: Starling Personal Account Debit Card draws on an account balance, so there is no rate to pay on everyday spending.
Current offers
HSBC Classic Credit Card
Current offer
Bonus
Get £500 with an HSBC Premier Bank Account: GBP 500
New customers only. Subject to eligibility and T&Cs. Credit subject to status. The £500 welcome bonus offer can be withdrawn at any time.
Source, checked September 26, 2026
Monzo Flex
Current offer
Bonus
Cashback on brands you love: 2-10% cashback
Monzo current account customers; pick the offers in the app, shop in person or online with the Monzo card
Source, checked September 26, 2026
Country by country
| Country | HSBC Classic Credit Card | Monzo Flex |
|---|---|---|
| United Kingdom | Yes | Yes |
Questions about each
HSBC Classic Credit Card
Does the HSBC Classic Credit Card charge an annual fee?+
No. The annual fee is £0, and the card is built around a no annual fee model, so holding it costs nothing to keep. The Varo Believe Secured Credit Card and the Chime Card (Secured Visa Credit Card) also charge no annual fee, at $0 and $0.
What rate do I pay if I carry a balance?+
The APR is 29.9%, against a site median of 20.97%, so interest on this card runs well above the typical figure on the site. That is the number to watch, because the card costs nothing to hold. Repaying the balance in full each statement means no interest is charged.
Monzo Flex
What does Monzo Flex cost to hold?+
The credit card carries an annual fee of £0 and a monthly fee of £0, so maintaining it costs nothing to hold. The fee model is listed as no annual fee, and the card ranks 1 of 301 brands on that measure. A separate paid card called Aura adds a monthly charge if cashback is wanted.
What rate applies if I carry a balance?+
Monzo Flex charges 29% on balances that are not cleared, against a site median of 20.97% and a credit category median of 20.85%. The interest free terms soften that figure, since paying the balance in full costs nothing and a repeatable interest free window applies to larger purchases.
Other options to compare
Other matchups
HSBC Classic Credit Card
Monzo Flex