HSBC Gold Mastercard Review

Credit CardsBalance Transfer ReviewsHSBC Gold Mastercard Review

HSBC Gold Mastercard Review

The basics

Balance transfer details

Intro APR

0%

Intro Period

18 months

Fee

4% or $10, whichever is greater

Annual Fee

$0

Regular APR

13.99% – 23.99% var

Credit Score Required

Good

Good for: Repaying high-interest and short-term debt

Our verdict

The HSBC Gold Mastercard has a lengthy 0% introductory APR at 18 months for both new purchases and balance transfers, and it’s fairly forgiving on late payments. But there’s no rewards program and the balance transfer fee is slightly higher than it is for other cards.

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Beyond the basics

  • 0% introductory APR for 18 months
  • Late fee waiver
  • No penalty APR
  • No annual fee
  • No foreign transaction fee

Purchase APR

0% for 18 months

Cash Advance APR

24.99%

Penalty APR

Sign up Bonus

None

Foreign Transaction Fees

0%

Late Fees

After 1 year, $39

Network

Mastercard

J.D Power Customer satisfaction Index 2019: 745/1000

Full review

Lender description HSBC is one of the world’s largest banks with services in wealth and personal banking, commercial banking, and global banking and markets.

Best used for

  • Debt consolidation
  • Home improvement
  • Wedding
  • Moving and relocation
  • Vacation

Pros & Cons

  • 0% introductory APR for 18 months on purchases and balance transfers
  • Late fee waived once per calendar year
  • No penalty APR after late payment
  • No rewards program
  • Balance transfers only qualify for 0% introductory APR offer if posted within 60 days of account opening
  • Balance transfer fee higher than most at $10 or 4% of amount transferred, whichever is higher

Most suitable for

  • Consumers who have a tendency to make late payments
  • Consumers looking to pay down high-interest credit card debt

Card Reward Details The HSBC Gold Mastercard has several travel benefits including no foreign transaction fee, MasterRental coverage for most rental vehicles, and Mastercard Airport Concierge, which includes 15% off on Airport Meet and Greet services.

How to apply Apply online, by phone at 800-485-1794, or in person at your nearest HSBC branch. Existing HSBC customers can apply by logging into Personal Internet Banking, though balance transfers between HSBC accounts are not eligible.

COVID-19 resources HSBC has set up a customer assistance program for those affected by COVID-19.

Available The HSBC Gold Mastercard offer is valid in all U.S. states except Wisconsin.

Balance transfer example If you have a balance of $6,200 with an APR of 19% and pay $359 toward the balance each month, you would pay off your debt in 21 months with a total interest of $1,032.99. If you transferred that balance and still paid $359 each month, you’d pay off your debt before the end of the introductory offer and avoid paying interest. But there would be a balance transfer fee of $248.