To start off, the HSBC Gold Mastercard® credit card does not offer rewards like most credit cards do. Instead, it’s made for those who need to finance a large purchase or are trying to eliminate existing debt while avoiding interest.
This $0 annual fee card features a 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 (see Rates & Fees).
What sets this card apart from other card that offers the same introductory rate is its forgiving policy on late payments. There are limits to those terms. However, anyone hoping to earn rewards should look elsewhere.
HSBC Gold Mastercard credit card Summary
|With the HSBC Gold Mastercard® credit card:
-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.
-No Penalty APR.
-Late Fee Waiver.
-No Foreign Transaction Fees.
-$0 Annual Fee.
-$0 liability for unauthorized purchases.
-See Rates & Fees
No Rewards But 0% Intro APR Period
The most unique aspect of the HSBC Gold Mastercard® credit card is its 0% intro APR period. Very few credit cards offer 0% intro rates for 18 months or longer. In fact, the cards that do offer you 0% intro rates generally average 11 months for balance transfers and 10 months for new purchases. This extra 7-8 months before high regular rates take effect could save you a lot of money on interest. (see Rates & Fees)
Very few 0% credit cards offer rewards. Though, this shouldn’t be a big issue. You should use a separate rewards card for everyday purchases that must be repaid monthly.
Plus, many 0% credit cards are often reserved for people with excellent credit. But not the HSBC Gold Mastercard® credit card. You can get it with just good credit.
The HSBC Gold Mastercard® credit card isn’t made to be used as an everyday credit card. It’s a good option if you’re interested in a large purchase and need a long interest-free period to pay it off. Or, it’s also good if you’re looking to transfer a high-interest balance and need a lot of time to pay it back. It can also save you money on fees in general.
If you don’t need to pay off anything or you’re looking for a rewards credit card, see our list of credit card promotions for a card to suit your everyday spending needs.
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.