HSBC Gold Mastercard® credit card
The HSBC Gold Mastercard is a basic card that can enable users to finance a purchase or pay off debt with a relatively lengthy introductory 0% APR of 18 months. A variable APR of 13.24%, 17.24% or 24.24% will apply after the Introductory Period.
The HSBC Gold Mastercard is a run of the mill, no rewards card with a cushy 18 month 0% introductory APR period. If you’re loyal to HSBC and have good to excellent credit, this card is a fine option for paying off high interest debt with a nice bit of a runway.
One unique bonus for this card is its measured graciousness – HSBC will waive one late payment fee per year with no penalty APR.
Who should get this card
HSBC account holders may enjoy the benefit of staying close to a brand they prefer. Particularly if you have a short-term financing need or a bit of debt that you’d like to pay off interest-free over 18 months. Consider however, that the 4% balance transfer fee is not the lowest rate going.
While the HSBC Gold Mastercard comes with some nice features, it’s pretty much just fine. It’s not the best credit card option for most consumers. With a longer-than-average 0% introductory APR as its primary selling point, it is still mediocre compared to other cards with the same 18-month window.
Fees and APR
- No Annual Fee.
- 0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 13.24%, 17.24% or 21.24% will apply.
- The balance transfer fee is $10 or 4% of the amount of each transfer, whichever is greater.
- A late fee of up to $37 may apply, but the one late fee every 12 months is waived.
- No Foreign Transaction Fee.
- See Rates & Fees.
Extras, perks and using points
Like all Mastercard products, the HSBC Gold Mastercard includes travel benefits such as travel accident insurance, roadside assistance and lost luggage assistance.
There are shopping perks as well— the card will double a warranty on your purchases for up to an additional year, and with the price protection feature, if you find an item for a lower cost within 60 days of buying it, Mastercard will refund the difference.
There are no rewards or points structures for the HSBC Gold Mastercard.
The Chase Freedom Unlimited® is another lengthy introductory 0% APR card option, though slightly shorter than the HSBC Gold Mastercard at 15 months. A major benefit, however, is that this card has a generous rewards structure to give back for your spending.
This card is probably the better option if you’re looking to finance a purchase rather than pay off debt. With a $150 bonus reward for spending $500 or more in the first three months, plus 1.5% cash back on purchases, you’ll get far more than what HSBC Gold Mastercard offers. However, with a shorter introductory APR, it may not be the top pick for paying off debt.