HSBC Gold Mastercard Review

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HSBC Gold Mastercard® credit card

HSBC Gold Mastercard® credit card

Learn more externa link icon at our partner’s secure site.

  • Introductory balance transfer rate: 0% Introductory APR on balance transfers for the first 18 months from account opening
  • Annual fee: $0
  • Regular APR: 13.99% – 23.99% (Variable)
  • Recommended credit score: 670-850 (Good to Excellent)

The defining feature of the HSBC Gold Mastercard is its 18-month 0% introductory APR on purchases and balance transfers (13.99% to 23.99% variable APR thereafter). This introductory rate makes it a good balance transfer option, and also offers a way to essentially finance larger purchases with 0% interest (provided you pay off the balance within the 18-month intro period). 

At a Glance

  • No annual fee
  • 0% introductory annual percentage rate (APR) on purchases and balance transfers for the first 18 months
  • Variable 13.99% to 23.99% APR after 18 months
  • Balance transfer fee of 4% or $10, whichever is greater

HSBC Gold Mastercard Pros and Cons

Pros

  • No annual fee

  • No foreign transaction fees

  • 0% APR on purchases and balance transfers for the first 18 months

  • Late-fee waiver and no penalty APR

Cons

  • No cash back or travel rewards

  • No welcome offer

  • High balance transfer fee

Additional Card Details

While the main draws of the card are its $0 annual fee and no interest on purchases or balance transfers for 18 months, it does have some additional benefits.

It also comes with Mastercard ID Theft Protection and 24-hour assistance if your card is lost or stolen.

A notable perk is the card’s late-fee waiver, which you can use once per calendar year if you are late to pay one of your monthly bills. There’s also no penalty APR if you do end up paying a monthly bill late. While this is a nice safety net, we recommend always paying your bills in full and on time, even if there isn’t an immediate penalty, since late payments can lower your credit score.

Should You Get This Card?

This card is a solid credit card option for people who have high-interest balances they want to transfer or large purchases coming up.

If you are looking for a simple, no annual fee card for balance transfers or with a low APR for large purchases, the HSBC Gold Mastercard could be a good fit. But you’ll be better off with a different card if you’re looking for more perks, benefits, and cash back or points rewards.

This card’s 18-month 0% interest rate comes at a relative cost: Its 4% balance transfer fee is higher than other offers, though still in line with many similar balance transfer cards. When used carefully to avoid interest charges, the balance transfer fee can be easily worth it in the long run.

The card also doesn’t have any foreign transaction fees, which is a plus for people who travel abroad since those fees would apply to every transaction made outside the U.S. Travel accident insurance can also be appealing if you’re planning on taking any road trips. That said, there are far better travel rewards cards on the market. 

This card should be considered for its strong introductory APR on balance transfers and purchases. But if you’re looking for a card that offers cash back or other rewards, there are better options.

How to Use the HSBC Gold Mastercard

The HSBC Gold Mastercard is a strong card if you’re looking to transfer a balance or have any large purchases coming up. You can use this card to finance major expenses, since you have 18 interest-free months from account opening to do so. After that, APR varies between 13.99% to 23.99%, depending on your credit score.

If you have another credit card, such as one that earns cash back or travel rewards, we’d recommend using that one for most of your everyday spending, and the HSBC Gold for larger purchases that you intend to pay off over time.

Pro Tip

This is a good card to use during international travel, since it does not charge any foreign transaction fees.

The balance transfer fee on the HSBC Gold Mastercard is either 4% of your balance or $10, whichever is greater. It’s a competitive offer, but you can find lower fees on balance transfers. For example, the PNC Core Visa has a balance transfer of 3% or $5, whichever is greater, within the first 90 days.

Other cards offer rewards that can be used for travel, and bonus points for spending on categories such as flights, hotels, dining or even groceries — but often come with annual fees. The HSBC Gold does not have an annual fee and is still a decent card for international travel, since it has no foreign transaction fees.

HSBC Gold Mastercard Compared to Other Cards

HSBC Gold Mastercard® credit card

HSBC Gold Mastercard® credit card

  • Introductory balance transfer rate:
    0% Introductory APR on balance transfers for the first 18 months from account opening
  • Annual fee:
    $0
  • Regular APR:
    13.99% – 23.99% (Variable)
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.
Wells Fargo Platinum card

Wells Fargo Platinum card

  • Introductory balance transfer rate:
    0% intro APR for 18 months on qualifying balance transfers
  • Annual fee:
    $0
  • Regular APR:
    16.49%-24.49% (Variable)
  • Recommended credit:
    670-850 (Good to Excellent)
  • Learn more externa link icon at our partner’s secure site.
Citi Simplicity® Card

Citi Simplicity® Card

  • Introductory balance transfer rate:
    0% for 18 months on Balance Transfers
  • Annual fee:
    $0
  • Regular APR:
    14.74% – 24.74% (Variable)
  • Recommended credit:
    740-850 (Excellent)
  • Learn more externa link icon at our partner’s secure site.

All information about the HSBC Gold Mastercard credit card, Wells Fargo Platinum card, and Citi Simplicity Card has been collected independently by NextAdvisor and has not been reviewed by the issuer.

Bottom Line

The HSBC Gold Mastercard is a fairly simple, no-frills, and no annual fee card geared toward people who use it to consolidate other credit card debt or finance large purchases to take advantage of its no-interest intro period.

On the flip side, the card doesn’t have a welcome offer nor any bonus points or cash back. If you’re considering getting it, we recommend weighing whether simplicity, no fees and convenience for balance transfers outweigh the lack of rewards for you.

Frequently Asked Questions

What credit score do I need for the HSBC Gold Mastercard?

You’ll typically need good to excellent credit to get approved for the HSBC Gold Mastercard, beginning at 670.

Does the HSBC Gold Mastercard have an annual fee?

No, the HSBC Gold Mastercard does not have an annual fee. It also does not have any foreign transaction fees.

What is the balance transfer fee on the HSBC Gold Mastercard?

The balance transfer rate is 4% or $10, whichever is greater.

What is the APR on the HSBC Gold Mastercard?

The HSBC Gold Mastercard has 0% intro APR for the first 18 months, and a variable rate of 13.99% to 23.99% afterwards.