- 1 HSBC Gold Mastercard credit card
- 1.1 Important
- 1.2 HSBC Gold Mastercard credit card review
- 1.3 Other Important Features
- 1.4 Time to pay your debt with a balance transfer attempt
- 1.5 Average balance is higher than transfer fee
- 1.6 Generous intro APR for new purchases
- 1.7 Low, average and high APR possibilities
- 1.8 No prizes and limited benefits
- 1.9 A few extra ways to save
- 1.10 Why should I buy HSBC Gold Mastercard?
- 1.11 How to use HSBC Gold Mastercard
HSBC Gold Mastercard credit card
The 18 month old for balance transfers and new purchases is a great choice for card holders who want to pay off HSBC Gold Mastercard with a generous promotional offer. In addition, you’ll also save fees due to an annual $ 0 fee, a lack of foreign transaction fees, and a one-year waiver.
- 0% Intrap APR for purchases and balance transfers during the first 18 months of account opening. Subsequently, 12.99%, 16.99% or 20.99% APR will be applied.
- No Penalty APR.
- Late Paid Disclaimer.
- Foreign Transaction Fees None.
- $ 0 Annual Fee.
- $ 0 liability for unauthorized purchases.
- Terms apply.
HSBC Gold Mastercard credit card review
0% Input Balance for Balance Transfers
18 months (must be announced within the first 60 days after opening the account)
Transfer Fee% 4
Promotion Buy 0% APR for 18 months
Regular APR% 12.99 – 20%, (variable)
Yearly Fee $ 0
Other Important Features
No foreign transaction fee, an annual late fee waiver, extended warranty, travel accident insurance, purchase protection
HSBC Gold Mastercard is a good card for users who want to pay big debts with a generous promotional APR. However, users have only 60 days to send balance transfers to request a quote, and the card is slightly higher than the normal transfer rate at 4 percent.
While you won’t win traditional prizes with this card, you can take advantage of travel and shopping benefits such as emergency road maintenance services, travel accident insurance, price protection and extended warranty.
Time to pay your debt with a balance transfer attempt
HSBC Gold Mastercard. May be a good option if you get some debts and spend a little more time paying. You only have 60 days to post your remittance from the opening of your account, but you will receive a long 18 months to earn interest on the balance.
Average balance is higher than transfer fee
At 4 percent, the HSBC Gold Mastercard transfer fee is slightly higher than the average balance transfer card. Plainer cards charge up to 3 percent without charge. This may not look like a difference, but you can quickly add a bit for larger balances.
Before you decide whether this is a card for you, consider how long the transfer fee will be spent on your debt. With an APR of 0 per cent for an 18-month entry period, you’ll save on the interest that the wage will add, but you’ll want to do the mathematics on your own budget before applying.
Generous intro APR for new purchases
HSBC Gold Mastercard offers an entry period for new acquisitions. This is a great way to avoid paying additional attention if you need to start paying the debt, but only if you know that you have a few payloads.
But watch out. If you are late for more than 60 days for a payment within the first 18 months, you are at risk of losing your input APR and may result in significant interest rates. To get the most out of this card, you’ll want to pay on a continuous, timely basis that reduces your balance before the end of the impression period.
Low, average and high APR possibilities
For the balance of transfer cards, HSBC Gold Mastercard has lower possible APR options. After the entry period, you will be eligible to receive a variable APR of 12.99 percent, 16.99 percent or 20.99 percent according to your credit score. While you may not know exactly where to stay before applying, it is important to consider the possibilities before choosing this card.
If you have an excellent credit and are eligible for an APR of 12.99 percent, this card is a great option to continue to pay your debt. This is one of the lowest options you can find on balance transfer cards, usually between 17 and 24 percent.
However, if you are at a height, carrying a balance on this card may not be the best choice for you, especially if you are going to get more than an 18-month intention to pay your remaining balance. Instead, consider a card with a smaller APR (even less), such as the Barclaycard Ring® Mastercard®.
Regardless of the APR you are entitled to, you should take advantage of the interest-free period to pay your balance as much as possible.
No prizes and limited benefits
HSBC Gold Mastercard does not offer traditional prizes, such as miles or refunds, but offers several advantages that other balance transfer cards cannot. Travel benefits – including travel planning assistance, emergency roadside services, and travel accident insurance – offer benefits such as extended warranty, price protection and purchase protection, allowing users to take advantage of several benefits without paying an annual fee or higher APR.
If you’d like to continue to win prizes when you pay your debt, consider alternatives such as the Capital One® Quicksilver® Card or Discover it® Balance Transfer card.
A few extra ways to save
HSBC Gold Mastercard offers users the opportunity to waive once a year, in addition to the advantages of travel and shopping. There is also no penalty APR for late payments. They may look like small savings, but they can make a big difference to break big balances.
Why should I buy HSBC Gold Mastercard?
- You want to transfer a balance over time to pay interest-free.
- You have excellent credit and you can qualify for a low APR.
- You want a balance transfer card that is not subject to annual charges, but you still want some travel advantages.
How to use HSBC Gold Mastercard
- Make minimum payments on time and pay as much as you can in the first 18 months.
- Just make new purchases that you can pay during the entry period.
- Benefit from price protection and travel planning to save day by day.