< See Balance Transfer Credit Cards

HSBC Gold MasterCard

HSBC Gold MasterCard
Our Take:

The HSBC Gold is a top pick if you're looking to pay down debt. With an 18 month introductory period, paying 0% APR on balance transfers and purchases can give you enough room to catch your breath and put out put out some financial fires.  Skip to our full review

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  • Highlights
    • Fantastic tool for paying down debt
    • Lengthy 0% APR intro period for balance transfers and purchases
    • Refreshingly few fees
    • No annual fee
  • Intro APR
    0% purchase APR for first 18 months
  • Regular APR
    12.99%, 16.99%, or 20.99%
  • Credit level
    Excellent and Good Credit
  • Balance TransferBalance Transfer
  • Low InterestLow Interest
  • No Foreign Transaction FeeNo Foreign Transaction Fee
  • No Annual FeeNo Annual Fee
Fees
  • Annual Fee
    No annual fee
  • Balance Transfer Fee
    4%
  • Foreign Transaction Fee
    None
HSBC Gold MasterCard Review

The concept behind the HSBC Gold Mastercard is simple: Give consumers a fantastic, low-interest card, great for one-time purchases and balance transfers, and they will carry a balance from month to month. It’s designed to be a low APR card for those who need to charge a bigger balance, and that’s exactly what it allows consumers to do. What you give up in additional perks, you make up with a low maintenance, hassle-free card.

For most of the cards we review, we recommend not carrying a balance. That’s because interest can get expensive on a more typical card and you’ll often see us recommend that people build good credit habits by spending only what they can afford and paying their balance in full each month. You may be surprised to see that for this card we recommend the opposite. In a perfect world, you’ll never need an advance on a large sum of money, but we all know sometimes you need money you just don’t have—and that’s where the HSBC Gold Mastercard shines.

Whether transferring a balance or making a large purchase, the intro APR offer and below average residual APR on this card makes it a good choice for those who know they will need to carry a balance from month to month. Use it to finance new bedroom furniture or pay down an existing credit balance. When paid on time, you’ll see the amount owed get smaller and smaller, making this a great card for getting out of debt.

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Editorial Note:

This content is not provided by HSBC. Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by HSBC.