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HSBC Gold Mastercard® credit card Review

HSBC Gold Mastercard® credit card Review

Intro Purchase APR
0% Introductory APR on credit card purchases for the first 18 months from account opening.
Intro Balance Transfer APR
0% Introductory APR on balance transfers for the first 18 months from account opening. Balance Transfers must be posted within the first 60 days following Account opening.
Rates and Fees
Regular APR of 13.99% - 23.99% variable. No annual fee, no foreign transaction fee, and no penalty APR.
Edited by
Julie Sherrier
Reviewed by
Glen Luke Flanagan
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the HSBC Gold Mastercard® credit card best for?

This offer and/or promotion may have since changed, expired, or is no longer available.

Sometimes you don’t need a lot of bells and whistles on a credit card — you just need a long introductory APR, so you won’t accrue interest on new purchases or debt transferred from another card. In situations like that, the no-frills HSBC Gold Mastercard® credit card stands out. With its lengthy intro APR, it can be a powerful tool to help you get out of debt. However, its balance transfer fee is on the high side, so we’ll consider an alternate balance transfer card that might work better for some consumers.

HSBC Gold Mastercard® credit card overview

    • 0% Intro APR on purchases and balance transfers for the first 18 months from account opening.
    • Balance Transfers must be posted within the first 60 days following Account opening.
    • Then a variable APR of 13.99% - 23.99% will apply.
    • No Penalty APR; Late Fee Waiver.
    • No Foreign Transaction Fees.
    • $0 Annual Fee.
    • $0 liability for unauthorized purchases.
    • Terms Apply.
  • Credit needed:
    720 850
    Excellent/Good
  • Protection for physical damage and theft to most rental vehicles with MasterRental Coverage.
  • 15% savings on Airport Meet and Greet services with Mastercard Airport Concierge.
  • Travel Accident Insurance covering accidental death or dismemberment up to $1,000,000.
  • Mastercard ID Theft Protection.
  • Access to exclusive experiences with Priceless Cities.
  • Discounted access to select golf courses and more with Priceless Golf.

Intro Purchase APR

0% Introductory APR on credit card purchases for the first 18 months from account opening

Regular Purchase APR

Variable APR of 13.99% - 23.99% will apply after the Introductory Period

Intro BT APR

0% Introductory APR on balance transfers for the first 18 months from account opening. Balance Transfers must be posted within the first 60 days following Account opening.

Regular BT APR

Variable APR of 13.99% - 23.99% will apply after the Introductory Period

Annual Fee

$0

Cash Advance Fee

Either $10 or 5%, whichever is greater, will apply on each cash advance transaction

Foreign Transaction Fee

None

Balance Transfer Fee

Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check.

Pros and cons

Pros

  • Lengthy intro APR periods
  • $0 annual fee
  • Foreign transaction fee: None
  • Late fee waiver and no penalty APR

Cons

  • No rewards program or sign-up bonus
  • High balance transfer fee

What we like about the HSBC Gold Mastercard® credit card

  • Long intro APR on purchases and balance transfers

    Enjoy a 0% Introductory APR on credit card purchases for the first 18 months from account opening. A variable APR of 13.99% - 23.99% will apply after the Introductory Period.

    You’ll also get a 0% Introductory APR on balance transfers for the first 18 months from account opening. Balance Transfers must be posted within the first 60 days following Account opening. A variable APR of 13.99% - 23.99% will apply after the Introductory Period.

    Note that the ongoing interest rate is quite reasonable, at least if your rate is set at the lower end of the possible range. While we never recommend carrying a balance on your credit card if you can avoid it, we also know that sometimes life gets in the way of the best plans. If you have to roll over a balance once in a while, having a card with a low APR can help you save money.

  • No annual fee or foreign transaction fee

    The annual fee is $0, so as long as you don’t accrue any other fees or interest charges, the HSBC Gold Mastercard® credit card won’t cost you anything.

    Plus, if you’re traveling abroad, you don’t have to worry about a foreign transaction fee — there is none.

  • Late fee waiver and no penalty APR

    The HSBC Gold Mastercard® credit card assesses a fee of up to $39 for each late payment. However, once per calendar year, the issuer will waive your late fee. Plus, there’s no penalty rate — meaning your interest rate won’t skyrocket because you paid late, as can happen with many other cards.

    It’s important to know late payments hurt your credit score, however. So although the HSBC Gold Mastercard® credit card might not penalize you, that late payment may still be reported to the credit bureaus.

What to watch out for with the HSBC Gold Mastercard® credit card

  • Doesn't earn rewards or a sign-up bonus

    If you’re planning a big purchase, the opportunity to earn a sign-up bonus while also taking advantage of an intro APR is a nice way to put a little cash back into your bank account. Unfortunately, the HSBC Gold Mastercard® credit card doesn’t come with a sign-up bonus.

    It doesn’t earn rewards either, meaning once you’ve reached the end of the no-interest period and have finished paying off your balance, you may not have much incentive to use this card.

  • The balance transfer fee is high

    The HSBC Gold Mastercard® credit card charges a balance transfer fee: Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check. Considering that other cards may offer a 3% balance transfer fee, this is a little on the high side. And while 1% might not seem like a huge difference, it can end up costing you when transferring higher amounts of debt. For example, a transfer of $7,000 would cost $280 with a 4% balance transfer fee, but only $210 with a 3% balance transfer fee.

Alternate balance transfer card

Compare it to the Citi® Double Cash Card – 18 month BT offer

| Disclosures
Citi® Double Cash Card – 18 month BT offer
Citi® Double Cash Card – 18 month BT offer
on Citibank's secure site
N/A
16.24% - 26.24% (Variable)
$0
Earn 2% on every purchase with unlimited 1% cash back when you
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 16.24% - 26.24%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
660 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

If you’re looking for a card with a lengthy intro APR on balance transfers that also offers ongoing value, it’s hard to beat the Citi® Double Cash Card . You’ll enjoy an intro APR of 0% for 18 months on balance transfers, after which a 16.24% - 26.24% (variable) APR applies. Plus, the balance transfer fee is less than that of the HSBC Gold Mastercard® credit card: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.

After you finish paying off your transferred balance, the Citi® Double Cash Card is worth using for its flat-rate cashback program. Cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Finally, the card has a $0 annual fee.

Unfortunately, there is a 3% foreign transaction fee, so leave this card at home if traveling abroad.

Compare the HSBC Gold Mastercard® credit card to similar cards

Comparison of four different credit cards
HSBC Gold Mastercard® credit card Citi<sup>®</sup> Double Cash Card – 18 month BT offer Wells Fargo Active Cash<sup>®</sup> Card Wells Fargo Active Cash<sup>®</sup> Card
HSBC Gold Mastercard® credit card Citi® Double Cash Card – 18 month BT offer Wells Fargo Active Cash® Card Wells Fargo Active Cash® Card
Read Review
Apply Now
on Citibank's secure site
Apply Now
on Wells Fargo's secure site
Apply Now
on Wells Fargo's secure site
Intro Balance Transfer APR
0% Introductory APR on balance transfers for the first 18 months from account opening. Balance Transfers must be posted within the first 60 days following Account opening. 0% for 18 months on Balance Transfers 0% intro APR for 15 months from account opening on qualifying balance transfers 0% intro APR for 15 months from account opening on qualifying balance transfers
Regular Balance Transfer APR
Variable APR of 13.99% - 23.99% will apply after the Introductory Period 16.24% - 26.24% (Variable) 17.24%, 22.24%, or 27.24% variable APR 17.24%, 22.24%, or 27.24% variable APR
Balance Transfer Fee
Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. 3% intro for 120 days from account opening, then up to 5%; min: $5 3% intro for 120 days from account opening, then up to 5%; min: $5
Intro Purchase APR
0% Introductory APR on credit card purchases for the first 18 months from account opening N/A 0% intro APR for 15 months from account opening 0% intro APR for 15 months from account opening
Regular APR
Variable APR of 13.99% - 23.99% will apply after the Introductory Period 16.24% - 26.24% (Variable) 17.24%, 22.24%, or 27.24% variable APR 17.24%, 22.24%, or 27.24% variable APR
Welcome Offer
N/A No bonus Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
Rewards Rate
N/A Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Earn unlimited 2% cash rewards on purchases Earn unlimited 2% cash rewards on purchases
Annual Fee
$0 $0 $0 $0
Card Details
HSBC Gold Mastercard® credit card Citi® Double Cash Card Wells Fargo Active Cash® Card Wells Fargo Active Cash® Card

Is the HSBC Gold Mastercard® credit card right for you?

The HSBC Gold Mastercard® credit card can help consumers who need to either make a big purchase and pay it off over time, or transfer existing debt from another high-interest credit card.

This card’s intro APR periods offer a chance to put the entirety of your payments toward the principal of your debt rather than toward the principal plus interest charges. Plus, if your payment date slips your mind, it’s nice to know the annual late fee waiver can protect you.

However, other cards that offer rewards programs may provide better ongoing value after their intro APR period ends.

The information related to the HSBC Gold Mastercard® credit card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication.