HSBC Gold Mastercard Review

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HSBC Gold Mastercard® credit card
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HSBC Gold Mastercard® credit card
Editor’s Score: (3.9/5)
Learn more externa link icon At our partner’s secure site. See Rates & Fees, Terms Apply.
HSBC Gold Mastercard® credit card
Editor’s Score: (3.9/5)
  • 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)

NextAdvisor’s Take

Pros
  • No annual fee
  • No foreign transaction fees
  • 0% APR on purchases and balance transfers for the first 18 months
  • Late-fee waiver (can use once per year) and no penalty APR
Cons
  • No cash back or travel rewards
  • No welcome offer
  • High balance transfer fee
The Bottom Line
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 finance larger purchases with 0% interest (provided you pay off the balance within the 18-month intro period).

Additional Card Details

  • 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 finance larger purchases with 0% interest (provided you pay off the balance within the 18-month intro period).
  • Balance transfer fee of 4% or $10, whichever is greater
  • Mastercard Airport Concierge delivers 15% savings on Airport Meet and Greet services
  • Travel accident insurance
  • MasterRental Coverage when you rent for 15 consecutive days or less

HSBC Gold Mastercard Full Review

Card Type

The HSBC Gold Mastercard* is a balance transfer and 0% APR credit card geared toward people looking to consolidate debt or finance large purchases who can take advantage of the long intro period.

Annual Fee

The HSBC Gold Mastercard does not have an annual fee. 

Welcome Offer

There’s no welcome offer for the HSBC Gold Mastercard. However, you can use the 18-month introductory 0% APR period for new purchases and balance transfers.

Rewards

There are no cash rewards, miles, or points you can earn with this card, which is standard among many 0% APR balance transfer cards. 

Fees 

If you want to use this card’s 18-month 0% interest rate to pay down debt, you’ll pay a 4% balance transfer fee (minimum $10. That’s higher than some other offers, though still in line with many balance transfer cards. If you have a plan to pay your balance over the intro period and avoid interest charges, the balance transfer fee can be easily worth it in the long run.

The HSBC Gold Mastercard also has no annual fee, and no foreign transaction fees. The first late payment fee every calendar year is waived, but you’ll take on a fee up to $39 after that.

How to Use the HSBC Gold Mastercard

The HSBC Gold Mastercard is a strong option 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.

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

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HSBC Gold Mastercard® credit card

HSBC Gold Mastercard® credit card

Editor’s Score: (3.9/5)
  • 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 See Rates & Fees, Terms Apply.
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Wells Fargo Reflect℠ Card

Wells Fargo Reflect℠ Card

Editor’s Score: (4.2/5)
  • Introductory balance transfer rate:
    0% intro APR for up to 21 months from account opening on qualifying balance transfers
  • Annual fee:
    $0
  • Regular APR:
    13.74% – 25.74% Variable APR
  • Recommended credit:
    670-850 (Good to Excellent)
  • Apply Now externa link icon At Wells Fargo’s secure site See Rates & Fees.
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Citi Simplicity® Card

Citi Simplicity® Card

Editor’s Score: (4.0/5)
  • Introductory balance transfer rate:
    0% for 21 months on Balance Transfers
  • Annual fee:
    $0
  • Regular APR:
    15.49% – 25.49% (Variable)
  • Recommended credit:
    670-850 (Good to 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.

Is the HSBC Gold Mastercard Right for You?

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.

Pro Tip

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

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.