Seung Hee Choi, Professor & Chair of Finance, was recently featured as an expert in an article, “Best HSBC Credit Cards.”
Why doesn’t HSBC have a bigger share of the U.S. credit card market?
HSBC’s smaller share of the U.S. credit-card market is largely a function of scale and focus. The U.S. card industry is dominated by large domestic issuers that operate extensive consumer networks, while HSBC’s U.S. operations are concentrated in global and premium banking. Over time, unless HSBC expands its retail presence or marketing investment, its share is expected to remain limited relative to large U.S. competitors.
Do you think U.S. consumers are especially suspicious of internationally based banks?
Consumer behavior in credit-card selection is primarily driven by cost, rewards, and credit terms rather than a bank’s nationality. International banks like HSBC compete on rates and benefits, but local issuers often have stronger brand reach and tailored products. As competition increases, performance and value—rather than origin—determine consumer preference.
Why do you think HSBC lacks significant variety in its credit card offers?
HSBC’s limited variety in U.S. credit cards reflects its emphasis on efficiency and targeted customer segments. Maintaining multiple card types involves higher marketing and servicing costs, which may not align with its strategic focus on premium clients. Over time, if market demand or deposit growth supports it, product variety could expand to improve competitiveness.