HSBC Gold Mastercard Review

Disclosure: We are committed to recommending the best products for our readers. We may receive compensation when you click on links to products, but this never affects our reviews or recommendations.

The HSBC Gold Mastercard offers one of the most competitive introductory 0% interest offers available today, making it a good choice for someone who wants to avoid interest on a major purchase or balance transfer. The noticeable lack of fees helps this card stand out from the crowd, and can offer some value for consumers who want to keep credit-related costs down.

HSBC Gold Mastercard® credit card

overall rating
2.4
HSBC Gold Mastercard® credit card
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.74% - 20.74% variable
Annual Fee $0
Balance Transfer Fee Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check.
INTRO BALANCE TRANSFER APR 0% for 18 Months
Intro Balance Transfer Fee This card does not offer an introductory balance transfer fee.
Ratings Breakdown
for Interest
2.9
for Fees
4.3
for Rewards
2.8
for Credit
4.4

Who is This Credit Card Best For?

  • Avatar for Debt Warrior Persona
    Attacks existing balances while avoiding new debt
    Debt Warrior
  • Avatar for Credit Builder Persona
    Takes improving their finances seriously and wants recognition for using credit responsibly
    Credit Builder

The HSBC Gold Mastercard can help someone who wants to make a large purchase and pay it down over 18 months without any interest. Consumers can also use this card to save on interest costs on balances transferred within the first 60 days of account opening. If you’re carrying high-interest debt on another credit card, this card can help you save money while you pay down the debt.

Pros

  • Good 0% interest offers

  • Hardly any fees

Cons

  • Longer 0% interest offers exist

  • No rewards

Pros Explained

  • Good 0% interest offers: This card charges 0% interest on purchases for 18 months and charges the same 0% interest on balance transfers made within the first 60 days. 
  • Hardly any fees: The HSBC Gold Mastercard doesn’t charge an annual fee or foreign transaction fees. You won’t pay a late fee on your first late payment, and there’s no penalty interest rate, either. 

Cons Explained

  • Longer 0% interest offers exist: If you really need to save money with a balance transfer, you should know that other cards may let you secure 0% interest on balance transfers for an even longer stretch of time. 
  • No rewards: Some of the top 0% interest credit cards let you earn rewards on your purchases, but the HSBC Gold Mastercard doesn’t have a rewards program. 

How to Get the Most Out of This Card

If you have some big purchases planned—maybe appliances for a kitchen upgrade—consider signing up for a card like the HSBC Gold Mastercard first. That way, you can save money on interest while you pay down your new stove and fridge over 18 months. Just be sure you pay off your balance in full before the introductory rate ends because after that, your interest rate will reset to the card’s standard variable rate.

Similarly, if you have a pile of high-interest credit card debt, transfer those balances to this card within the first 60 days. Create a plan to pay off your debt within the 18-month introductory offer period, and you could save big on interest payments. Plus, without having to make interest payments for 18 months, you might even pay down your debt faster.

This card charges a 4% balance transfer fee, which is not the highest you’ll find (plenty of cards charge 5%), but it can still bite into your potential interest savings. Many balance transfer cards charge a 3% balance transfer fee—and some don’t charge a fee at all.   

HSBC Gold Mastercard Other Benefits

The HSBC Gold Mastercard offers a handful of benefits for cardholders, one of which stands out:

  • Rental car collision insurance (secondary to your own policy)

Customer Experience

HSBC was rated poorly in J.D. Power’s Regional 2019 U.S. Credit Card Satisfaction Study with an average of just 2 out of 5 stars in categories like interaction, communication, benefits and services, and rewards. Overall the bank was last among 11 ranked institutions, scoring 745 of 1,000 possible points, well below the industry average of 802.

One positive thing about this card, however, is that you receive free access to your FICO score each month on your credit card statement. 

Security Features

HSBC credit cards come with security features like fraud monitoring. You can also opt in to fraud alerts that will notify you of suspicious activity on your account via text or email. 

As a cardholder, you can qualify for identity theft resolution services and 24-hour assistance for lost or stolen cards. 

HSBC Gold Mastercard’s Fees

This card doesn’t charge an annual fee or foreign transaction fees on purchases made abroad. You won’t even pay a late fee the first time you pay late, nor will you pay a penalty APR.

For HSBC Gold Mastercard® credit card

Compare This Card

See how this card stacks up to the competition
CURRENT CARD
HSBC Gold Mastercard® credit card
overall rating
2.4
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 12.74% - 20.74% variable
Annual Fee $0
Balance Transfer Fee Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check.

Our Methodology

  • At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.