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|Highlights||Credit Card Feature|
|Things We Like||0% intro APR on credit card purchases and balance transfers for the first 18 months from account opening|
|Our Least Favorite||No rewards for your spending|
|Our Verdict||Great $0 annual fee card for balance transfers|
HSBC Gold Mastercard® credit card is a low interest card from HSBC that helps you manage your finances and pay off your debt without crushing interest rates. This credit card gives you the extra spending power you need and gives you a long introductory period with 0% APR. It comes with some credit card benefits that are quite appealing to most people who use credit cards. In this review we'll look further into those benefits, and how the fine print compares to other similar balance transfer cards out there.
GET.com's detailed review of HSBC Gold Mastercard® credit card will help you better understand if this card is right for you, or if you can get more out of a different card.
Things We Like About HSBC Gold Mastercard® credit card
$0 annual fee. You won't have to worry about paying an annual fee for having this card and enjoying all the cardholder privileges.
0% intro APR on credit card purchases and balance transfers for the first 18 months from account opening. If you are currently carrying a balance it can be rough to have to pay interest each month on top of all your other expenses. When you transfer your balance to HSBC Gold Mastercard® credit card you'll have a 0% intro APR on credit card purchases and balance transfers for the first 18 months from account opening which can really help you save money on interest and get rid of your debt. After the intro APR, a 12.99% - 20.99% variable APR on both purchases and balance transfers will apply.
No foreign transaction fees. When traveling abroad you won't have to pay any extra fees for the transactions you make in foreign currencies overseas. Many cards will charge a fee of at least 3% or more, but HSBC Gold Mastercard® credit card has absolutely no fees when it comes to foreign transactions.
No penalty APR. If you forget, or for some unforeseen reason aren't able to make your monthly payment before the due date, you won't be saddled with hefty penalty APR fees thereafter. However, we encourage making your monthly payments on time every month as it can affect your credit negatively each time you don't. Your introductory APR might be ended and a penalty APR might be applied if you make a late payment that is more than 60 days late.
Late payment fee waiver. You won't be charged a late payment fee the first time you cant make your minimum payment by your payment's due date after twelve consecutive billing periods from the last late fee assessment. After that the late payment fee will be up to $37.
Travel Benefits. Rest assured that you're covered while traveling: you and your family are provided with up to $1 million in coverage if an accident should occur on a commercial passenger vehicle. And in the event of a collision, damage or theft of a rental vehicle, you could be eligible for up to $50,000 in coverage.
Shopping Benefits. HSBC Gold Mastercard® credit card comes with purchase assurance which is a great shopping perk that covers most of your purchases up to $1,000 in the case of accidental damage or theft for 90 days from the date of you made your purchase. With the extended warranty that this card offers you can double your original warranty for up to one additional year. This card also offers price protection which can refund the difference if you buy something and then see that it's advertised somewhere else for less within 60 days of your purchase.
Fraud protection. If your identity is somehow compromised, this card works with Identity Theft Resolution Services to provide assistance with notifying your credit bureau and replacing your credit card. HSBC Gold Mastercard® credit card also works with the latest in chip technology which offers enhanced protection when you use it at chip-enabled terminals.
Mobile payments. You should be able to make purchases as quickly and conveniently as you want with the security you want. Currently, HSBC supports multiple payment options including Android PayTM, Apple PayTM and Samsung PayTM.
Our Least Favorite Things About HSBC Gold Mastercard® credit card
No rewards for your spending. Some cards that offer no foreign transaction fees and $0 annual fee also have a rewards program which can let you earn points or cash back on the purchases you make. HSBC Gold Mastercard® credit card has no such program since it's specifically made for those who are looking for a low interest card or a card to transfer their balance to. The benefits that this card offers such as the long 0% intro APR on credit card purchases and balance transfers for the first 18 months from account opening (12.99% - 20.99% variable APR thereafter), no penalty APR or late fees, are all very useful features that can help you get rid of your debt or pay off a big ticket purchase interest-free.
How Other Cards Compare With HSBC Gold Mastercard® credit card
This $0 annual fee card is a good option if you're looking for a card with a long 0% intro APR on both purchases and balance transfers. This card can help you get rid of your debt since you can transfer your balances to this card and pay them off interest-free during the intro APR period. If you don't have any balances to transfer but you're looking for a low interest card to make a big ticket purchase on and pay it off during the intro APR period, this card is a good option with its long 0% intro APR on credit card purchases and balance transfers for the first 18 months from account opening (12.99% - 20.99% variable APR thereafter). As a cardmember, you can also benefit from not having to pay any foreign transaction fees, penalty APR, or late payment fees.
HSBC Gold Mastercard® credit card also offers extra benefits like purchase assurance and extended warranty. If you're looking to pay off a balance and hate pesky hidden fees HSBC Gold Mastercard® credit card is a straightforward credit card which can help you get rid of debt.
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