HSBC Advance Mastercard® credit card review | finder.com

HSBC Advance Mastercard® credit card review

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HSBC Advance Mastercard® credit card

Earn accelerated points on dining and select entertainment purchases.

  • Get this card if you have an HSBC checking account and want a rewards credit card.
  • Pick something else if you want accelerated points on categories other than dining and entertainment.
  • Apply if you have a good to an excellent credit score of 670 or higher.
Product NameHSBC Advance Mastercard® credit card
Card typeMastercard
Annual fee$0 intro annual fee for the first year ($45 thereafter)
Standard purchase APR17.24% to 21.24% variable
Intro purchase APR0% for the first 12 months (then 17.24% to 21.24% variable)
Standard balance transfer APR17.24% to 21.24% variable
Intro balance transfer APR 0% for the first 12 months (then 17.24% to 21.24% variable)
Balance transfer fee$10 or 3% of the transaction, whichever is greater
Cash advance rate27.24% variable
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Foreign transaction feeNone
Interest free periodUp to 25 days
Late payment feeUp to $37
Returned payment feeUp to $25
Rates & feesrates & fees
Minimum Age18 years of age
Welcome Offer2x points in the first year on up to $25,000, then 2x points on dining and entertainment and 1x points on all other purchases
RewardsAfter first year rewards offer, 2x points on dining and entertainment and 1x points on all other purchases
Base Rewards1x points

The basics

The HSBC Advance Mastercard® credit card might be the credit card for you if you want to earn accelerated points on dining and select entertainment purchases without paying an annual fee. Not only will you get accelerated points, but you’ll also get a long intro APR period on balance transfers and purchases. This can help you save money on interest.

However, to be eligible to apply you must have an existing HSBC checking account.

Another card with rewards for everyday purchases

Blue Cash Everyday® Card from American Express

  • Earn a $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 15.24% to 26.24%.
  • You spoke, we listened. Over 1.6 million more places in the U.S. started accepting American Express® Cards in 2018.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • No annual fee.
  • Terms apply.
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See Rates & Fees
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Card benefits

  • Introductory offer.
    Earn 2x points on dining and select entertainment purchases and 2x points on everything else you buy up to the first $25,000 spent on these combined categories during your first year of card membership.
  • Reward points.
    Once the intro offer ends, you’ll earn 2x points on dining and select entertainment purchases and 1x points on all other purchases.
  • Intro APR period on purchases and balance transfers.
    Use the first 12 months when you open your account to make 0% intro APR purchases. Balance transfers also come with a 12 months 0% intro APR period, but you must post your transfers within 60 days of card membership. After the intro period expires, your rate reverts to variable 17.24% to 21.24% APR.
  • No foreign transaction fees.
    Use the card freely when you’re traveling abroad without incurring any foreign transaction fees.
  • No annual fee.
    Enjoy the card’s perks and benefits without paying an annual fee.

What to watch out for

  • Credit card eligibility.
    To apply for the card, you must have an existing Advance or Premier checking account relationship with the bank.
  • Loss of intro APR period.
    If you are more than 60 days late on your payment, HSBC will apply a late payment fee or a penalty APR and you’ll lose your intro APR period on balance transfers and purchases.
  • Potential annual fee.
    If you own the card and lose your HSBC Advance or Premier checking account relationship, you’ll pay $45 annual fee for the card starting from your second year.

How to apply for the HSBC Advance Mastercard® credit card

  1. You must have an existing HSBC Advance or Premier checking account before applying for the card.
  2. Once you have an HSBC checking account, visit HSBC website and locate the HSBC Advance Mastercard® credit card.
  3. Log in to your account and fill out the application form.
  4. Review the form and submit.

What credit score do I need?

Your chances of approval increase if you have a good to excellent credit score of 670 or higher.

Compare rewards credit cards

Name Product Welcome offer Rewards Annual fee Filter values
$$150 after spending $1,000 in the first 3 months
2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
$0
Earn a $$150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees
75,000 points after spending $1,000 in the first 3 months
7x points on Hilton Honors purchases, 5x at US restaurants, US supermarkets and US gas stations, 3x on all other purchases
$0
Earn 75,000 Hilton Honors™ Bonus Points after you spend $1,000 in purchases on the card within your first 3 months of card membership. Rates & fees
3% cash back bonus on up to $10,000 in the first 12 months, then 1.5%
3% cash back on up to $10,000 in the first 12 months, then 1.5% on all purchases
$0
Earn 3% cash back on up to $10,000 in the first 12 months, then 1.5% on all purchases. See Rates and Fees.
$$150 after spending $1,000 in the first 3 months
1.5% cash back on all purchases
$0
Earn a $$150 statement credit after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Rates & fees
60,000 points after spending $5,000 in your first 3 months
5x points on directly-booked flights or on flights and hotels on Amex Travel. 1x points on all other purchases
$550
Get 5x Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5x points on eligible hotels booked on amextravel.com. Rates & fees

Compare up to 4 providers

Bottom line

If you are an existing HSBC customer looking to earn accelerated rewards on dining and select entertainment purchases without paying an annual fee, the HSBC Advance Mastercard® credit card could be worth considering. In addition to earning rewards on your purchases, you also get a long intro APR period on purchases and balance transfers.

As an alternative, you can consider the Capital One® SavorOne℠ Cash Rewards Credit Card. But before applying for a card, make sure to compare your credit cards options until you find the right fit for your wallet.

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