Sarah Bilkins, WalletHub Credit Card Analyst
@sarah.bilkins
The main differences between HSBC and Citibank are their credit card options and their presence in the U.S. market. HSBC currently offers only two credit cards, while Citibank has a large variety of options for consumers of all credit levels, including 0% APR, secured, and balance transfer credit cards.
In addition, HSBC is known for its strong international presence, particularly in Asia, Europe, the Middle East, and Africa. Citibank also has a wide global footprint but is more heavily reliant on the North American market.
HSBC vs. Citibank Comparison
| Bank | HSBC | Citibank |
| Overview | Major global bank with a strong presence in Asia, Europe, the Middle East, and Africa | One of the largest financial institutions in North America, with a significant global footprint |
| U.S. ranking (by total assets) | 25th | 3rd |
| Notable products / services | Checking and savings accounts Certificates of deposit (CDs) Credit cards Mortgages Personal loans Wealth management and investment services | Checking and savings accounts Certificates of deposit (CDs) Credit cards Mortgages Personal Loans Wealth management and investment services |
| FDIC insured? | Yes | Yes |
| Popular credit cards | ||
| WalletHubuser ratings | 3.8/5 across more than 1,900 reviews on WalletHub | 3.6/5 across more than 34,000 reviews on WalletHub |
| BBB rating | A+ rating | D- rating |
| Pros | Bonuses available for new customers and referrals International banking options Global presence | One of the largest credit card issuers in the U.S. Many Fee-Free ATMs Credit cards offer a wide range of features (0% intro APRs, rewards, $0 annual fee, etc.) |
| Cons | Only 17 wholesale banking branches in select U.S. cities nationwide Not many credit card options available | Most credit cards have a foreign transaction fee Not all accounts are available in some areas of the U.S. |
Since both HSBC and Citibank are banking giants with a wide array of services to offer, the better choice depends on your specific financial goals and needs. Choose Citibank if you want a wide selection of credit cards and a higher savings account interest rate. Go with HSBC if you’re looking for a stronger international presence and want CDs with higher fixed rates.
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