HSBC Gold Mastercard® credit card

Why People Love It
  • Long introductory APR promotion
  • Light on the fees
  • Includes additional travel perks
80 User Score
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  • No interest on purchases and balance transfers for 18 months
  • No annual fee or foreign transaction fees
  • Travel accident insurance, lost luggage protection, and more
  • No rewards program
  • Charges a balance transfer fee
Faveable Review

If you’re looking to finance a large purchase or pay down some toxic credit card debt, the HSBC Gold Mastercard® Credit Card can help you do it.

The card offers a long introductory APR promotion on both purchases and balance transfers and also offers some other solid perks that make it worthwhile even after the promotion ends.

Read on to learn more about the card and whether it’s the right one for you.

HSBC Gold Mastercard® Credit Card review

The HSBC Gold Mastercard® Credit Card is simple in its offering to cardholders, but most importantly it offers a lot of value.

When you first get approved for the card, you’ll get a 0% APR on both purchases and balance transfers for 18 months. That’s a nice time frame to help you eliminate credit card debt interest-free. Then a variable APR will apply.

While there other cards that offer longer promotions for balance transfers, this card — and the Citi Simplicity® Card — currently offers the longest promotion for both (as of August 11, 2018).

But that’s not all — the card also offers several other benefits that will provide value when you shop or travel using the card. Keep reading to learn more about those perks.

HSBC Gold Mastercard® Credit Card rewards and perks

The HSBC Gold Mastercard® Credit Card doesn’t offer cardholders a rewards program of any kind, focusing instead on the value it offers through its APR promotion.

But depending on how much debt you have, you could end up saving a lot more in interest than you’d earn in rewards over the same period.

Let’s say, for instance, that you have $15,000 in credit card debt on another credit card with a 20% APR.

If you transfer it to the HSBC Gold Mastercard® Credit Card, you’ll pay a balance transfer fee, which will get rolled into your balance, and you’ll make hefty monthly payments to get rid of it before the promotion ends.

If you keep the debt on the original card and try to pay it off in the same period, your monthly payment will be $971, and you’ll pay $2,486+ in interest over those 18 months.

So by transferring the debt to the HSBC Gold Mastercard® Credit Card and paying it off in 18 months, you’d save at least $1,000 even after the balance transfer fee.

If you were to get a credit card that offers 1.5% cash back instead, you’d have to spend $125,733 in 18 months to get the same value.

Other perks you’ll get with the card include no penalty APR if you’re late on a payment, no foreign transaction fee, and a waiver of your first late payment fee.

HSBC Gold Mastercard® Credit Card benefits

When picking a credit card that offers an introductory APR promotion, it’s important to make sure you’re still getting value out of the card after the promotion is over.

Fortunately, you could make a good case for this card. Here’s what it comes with:

  • Travel accident insurance
  • Pre-trip planning assistance, help with lost luggage, and more
  • Roadside assistance
  • Extended warranty protection
  • Purchase assurance against damage or theft
  • Price protection in case the price of an item drops
  • Identity theft services

HSBC Gold Mastercard® Credit Card costs and fees

The main fee to keep an eye on with this card is its balance transfer fee.

If you’re planning on transferring a balance, you’ll want to make sure that the interest savings aren’t swallowed up by the balance transfer fee. Keep in mind that there are balance transfer credit cards that don’t charge any balance transfer fee for the first couple of months.

Another important fee to note is the card’s annual fee, which is $0. It also charges no foreign transaction fee, making it a good travel companion if you’re taking a trip abroad.

Also, keep an eye on the interest rate once the APR promotion is over. Depending on your creditworthiness, it could be below-average. But it could also be upwards of 20%.

Does the HSBC Gold Mastercard® Credit Card make sense for me?

The biggest drawback to this card is the fact that it doesn’t have a rewards program. There are plenty of other balance transfer cards that offer rewards, including the Amex Everyday Credit Card from American Express, the Citi® Double Cash Card, and the Chase Freedom Unlimited®.

That said, this card offers a longer APR promotion on both purchases and balance transfers than all three of those cards.

As such, it’s important that you know what your priorities are with a new credit card. Shop around and compare this one to other low-interest credit cards to make sure you’re getting the most bang for your buck.

And while a card with rewards may be tempting, that doesn’t necessarily mean it’s better for you. Do the math to find the card that provides you with the most value, and ignore the rest.


Application Process: Apply online, and get a decision within 60 seconds or less.

Rewards: None.

Bonus Offers: None.

Annual Fee: None.

  • 0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 12.99% - 20.99% will apply.
  • No Penalty APR
  • Late Fee Waiver
  • No Foreign Transaction Fees
  • $0 Annual Fee
  • $0 Liability for unauthorized purchases
  • Terms Apply
  • See Rates & Fees