HSBC balance transfer credit cards guide | finder.com

HSBC balance transfer credit cards guide

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Reduce your debt by applying for an HSBC credit card with a 0% intro APR on balance transfers.

A quagmire of debt isn’t a nice place to be, and trying to climb your way out can be a difficult and tiresome process. Making a balance transfer might be your saving grace and allow you some breathing room from high-interest rates and fees. As with any credit product, a reputable provider is important to the security and effectiveness of your transfer.

HSBC is one of the largest banks worldwide and has been serving customers in the US since 1980. We’ll outline a summary of some of the features, benefits and conditions you can expect if you conduct a balance transfer with HSBC.

Our pick for an HSBC balance transfer card: HSBC Gold Mastercard® credit card

  • 0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 12.99%, 16.99% or 20.99% will apply.
  • No penalty APR.
  • Late fee waiver.
  • No foreign transaction fees.
  • $0 annual fee.
  • $0 liability for unauthorized purchases.
  • Terms apply.
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Compare HSBC credit cards

Name Product Filter values Introductory Balance Transfer APR APR (Annual Percentage Rate) for Purchases Annual Fee Minimum Credit Score
0% for the first 15 months (then 14.99%, 18.99% or 24.99% variable)
14.99%, 18.99% or 24.99% variable
$0
670
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.
0% for the first 18 months (then 12.99%, 16.99% or 20.99% variable)
12.99%, 16.99% or 20.99% variable
$0
670
An 18 months 0%% Intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card. See Rates and Fees
0% for the first 12 months (then 14.99% or 18.99%, or 24.99% variable)
14.99%, 18.99%, or 24.99% variable
$0
670
No Annual Fee. No Foreign Transaction Fees. No fee for additional cards for authorized users. See Rates and Fees
HSBC Advance Mastercard® credit card
HSBC Advance Mastercard® credit card
0% for the first 12 months (then 16.99% or 20.99% variable)
16.99% or 20.99% variable
$0 annual fee for the first year ($45 thereafter)
740
Earn 25,000 Rewards Program Bonus Points, worth $250 in gift cards, after spending $1,500 or more in the first 3 months from Account opening
HSBC Premier World Elite Mastercard® credit card
HSBC Premier World Elite Mastercard® credit card
16.99% or 20.99% variable
$395
740
Earn 50,000 Rewards Program Bonus Points worth $750 in airfare when booked online through HSBC Rewards, after spending $$4,000 in the first 3 months of account opening.
HSBC Premier World Mastercard® credit card
HSBC Premier World Mastercard® credit card
16.99% or 20.99% variable
$0 annual fee for the first year ($95 thereafter)
670
Earn 35,000 Rewards Program bonus points, worth at least $400 in air travel, after spending $3,000 or more on purchases in the first 3 months from account opening.

Compare up to 4 providers

What are the best HSBC balance transfer offers?

HSBC Gold Mastercard® credit card

  • 0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 12.99%, 16.99% or 20.99% will apply.
  • No penalty APR.
  • Late fee waiver.
  • No foreign transaction fees.
  • $0 annual fee.
  • $0 liability for unauthorized purchases.
  • Terms apply.
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Of all the HSBC credit cards, the HSBC Gold Mastercard® credit card offers the longest promotional period on balance transfers. You’ll get a 0% intro APR on purchases and balance transfers for the first 18 months. After that, your APR will revert to 12.99%, 16.99% or 20.99% Variable.

Some perks of this card include:

  • $0 annual fee.
  • penalty APR.
  • foreign transaction fees.
  • $0 fee for additional cards.
  • Extended warranty, purchase assurance and price protection.
  • Travel benefits, including help with pre-trip planning and lost luggage, roadside assistance and $1 million in travel accident insurance.

HSBC Cash Rewards Mastercard® credit card

  • Earn unlimited 1.5% cash rewards on all purchases.
  • Earn a $150 cash rewards intro bonus after spending $2,500 in the first 3 months.
  • 10% anniversary bonus on all cash rewards earned once a year.
  • No annual fee.
  • 0% intro APR for 15 months on balance transfers, then a 14.99%, 18.99% or 24.99% variable APR.
  • No foreign transaction fees.
  • $0 liability for unauthorized purchases.
  • Terms apply.
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If you’re looking for a balance transfer card that also offers rewards, the HSBC Cash Rewards Mastercard® credit card could be a good option. It offers a 0% intro APR on balance transfers for the first 15 months of opening your account. After that, the APR will revert to 14.99%, 18.99% or 24.99% Variable.

With this card, you’ll also enjoy:

  • Earn a $150 cash rewards intro bonus after spending $2,500 in the first 3 months. 10% Anniversary Bonus on all Cash Rewards earned once a year.
  • 1.5% unlimited cash back on all purchases.
  • $0 annual fee.
  • $0 foreign transaction fees.
  • $0 fee for additional cards.
  • Extended warranty, purchase assurance and price protection.
  • Travel benefits, including help with pre-trip planning and lost luggage, roadside assistance and $1 million in travel accident insurance.

Compare balance transfer credit cards

Name Product Filter values Introductory Balance Transfer APR APR (Annual Percentage Rate) for Purchases Annual Fee Minimum Credit Score
0% for the first 15 months (then 16.99% to 25.74% variable)
16.99% to 25.74% variable
$0
670
0% intro APR for 15 months from account opening on purchases and balance transfers.
0% for the first 15 months (then 16.99% to 25.74% variable)
16.99% to 25.74% variable
$0
670
0% intro APR for 15 months from account opening on purchases and balance transfers.
0% for the first 15 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
$0
680
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & Fees
0% for the first 12 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
$95
670
Earn $200 bonus cash back after you spend $1,000 on purchases in the first 3 months. Rates & Fees
0% for the first 15 months (then 14.99% to 25.99% variable)
14.99% to 25.99% variable
$0
680
Earn up to $250 back. Earn $150 back after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Plus, earn an additional $100 back after you spend an additional $6,500 in purchases within your first 12 months. Rates & Fees
0% for the first 15 billing cycles (then 13.99% variable)
13.99% variable
$0
670
A low, variable APR on purchases, balance transfers and cash advances.
0% for the first 15 months (then 14.99%, 18.99% or 24.99% variable)
14.99%, 18.99% or 24.99% variable
$0
670
Earn unlimited 1.5% cash rewards on purchases. See Rates and Fees.
0% for the first 18 months (then 12.99%, 16.99% or 20.99% variable)
12.99%, 16.99% or 20.99% variable
$0
670
An 18 months 0%% Intro APR period on both purchases and balance transfers, plus zero foreign transaction fees, makes this is a strong well-rounded card. See Rates and Fees
0% for the first 15 billing cycles (then 16.99% variable)
16.99% variable
$195
740
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
0% for the first 15 billing cycles (then 16.99% variable)
16.99% variable
$495
670
Receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
0% for the first 15 billing cycles (then 16.99% variable)
16.99% variable
$995
740
Earn points every time you spend. Luxury Card enhances your purchasing power by providing you with one (1) point for every one dollar ($1) you spend. Every purchase gets you closer to the rewards you want.
1.99% for the first 6 monthly billing cycles (then 16.24% to 22.24% variable)
16.24% to 22.24% variable
$0
670
1% cash back to the nonprofits, K-12 schools, colleges and religious organizations of your choice.
9.95% for the first 6 months (then 17.99% fixed)
17.99% fixed
$39
300
Borrow up to $10,000 and get your credit score back on track.
0% for the first 12 statement closing dates (then 15.24% to 25.24% variable)
15.24% to 25.24% variable
$0
720
Earn more cash back for the things you buy most.
NASA Federal Platinum Advantage Rewards Credit Card
NASA Federal Platinum Advantage Rewards Credit Card
7.9% for the first 90 days (then 11.9% to 17.99% variable)
11.9% to 17.99% variable
$0
670
Enjoy perks and save money while gaining points with every purchase.
10.99% for the first 6 months (then 24.99% variable)
24.99% variable
$0
580
2% Cashback at restaurants or gas stations on up to $1,000 in combined purchases each quarter. Plus 1% cash back on all other credit card purchases.
20.99% variable
$25
300
Establish credit history - with responsible use you may be upgraded to an unsecured credit card.
21.99% variable
$39
300
Help establish, strengthen - even rebuild your credit
20.99% variable
$29
300
Establish your credit and reap the benefits. Get worldwide purchasing power and flexibility as you work to build or re-establish your credit history.
24.99% variable
$0
300
Take control and build your credit with responsible use.
Aspire Platinum Mastercard®
Aspire Platinum Mastercard®
0% for the first 6 billing cycles (then 8.9% to 18% variable)
8.9% to 18% variable
$0
580
We'll help you score major savings with a 0% introductory APR* on purchases and balance transfers for 6 months.

Compare up to 4 providers

A balance transfer with HSBC

A balance transfer allows you to consolidate your debt onto one credit card, making it easier to track your finances. Balance transfers may be a suitable solution for those who have an outstanding debt on a high-interest credit card and want to take advantage of a promotional low interest rate. The low interest period gives you time to make your repayments and clear your debt before the card reverts to a higher interest rate.

What are the benefits of a balance transfer with HSBC?

  • Promotional low interest period.
    The initial low APR period is the main incentive to complete a balance transfer. During this time period, you can put your money toward your debt and save on interest rates. The aim is to have your debt repaid in full before this promotional period ends.
  • Applying is quick and easy.
    You can apply for a balance transfer during the credit card application process, which only takes 10 minutes.
  • Easy solution to resolving your debt.
    By designing a budget, you can keep track of your repayment schedule and ensure you have the entire debt repaid before the promotional period ends, putting you back in charge of your finances.

Applicable debt for balance transfers with HSBC

What debt can I transfer?

  • Credit card not issued by HSBC
  • Loan not made by HSBC or a subsidiary

What debt can’t I transfer?

  • Loan made by HSBC or a subsidiary
  • Credit card issued by HSBC

Can I transfer balances to another HSBC card?

No, you can not transfer any credit card debt on an HSBC card to another HSBC card. Any debt you transfer to your new HSBC card must come from a loan or credit card not issued by HSBC or one of its subsidiaries.

What you need to know before you apply

  • Annual fee.
    Check the annual fee. The better the rewards, the higher the annual fee typically is. Weigh which card will be most beneficial for you to avoid paying unnecessary fees.
  • Avoid using your card to make purchases.
    The objective of the card is to consolidate your debt and take advantage of the low interest period. Avoid using your card to make everyday purchases and adding to your debt, rather than minimizing it.
  • Higher interest rates after the promotional period.
    If your debt isn’t cleared after the promotional low rate period has ended, interest rates will revert to the variable purchase rate.
  • Balance transfer fee.
    HSBC typically charges a balance transfer fee of 3% to 4% of each transfer.

Eligibility requirements

To apply for a balance transfer credit card with HSBC, you’ll need to make sure you meet these requirements:

  • You’re at least 18 years old.
  • You’re a US citizen.

What you will need to apply

The application process will take around 10 minutes to complete. A reply will be sent within 60 seconds stating whether the application was successful or not. You’ll need to have the following information handy so you can answer the questions on the application form:

  • Personal information. This includes your full name, date of birth, Social Security number, driver’s license or non-driver’s identification card, current home address and your previous address if you’ve lived in your current home for less than three years.
  • Residential status. To apply for an HSBC credit card, you must be a US resident.
  • Employment details. You’ll need to disclose the name and address of your employer, as well as your annual income.
  • Financial information. HSBC requires information about your monthly housing payment and any other assets you declare.
  • Tax residency details. You’ll need to state whether you have tax residency in another country.
  • Balance transfer details. This includes the account numbers of the credit cards you wish to transfer over, as well as how much of each balance you want to transfer.

How to apply for a balance transfer with HSBC

Step 1: Select a credit card.

Go to HSBC’s website and choose the credit card you want to apply for.

Step 2: Enter your personal details.

Enter your name, date of birth, Social Security number and email address.

Step 3: Fill in your contact info.

Enter your current address, when you moved there, your phone number and details on your driver’s license or non-driver’s identification card.

Step 4: Add in your employment history.

Next, you’ll fill in details on your employer, annual income, other available income, whether you rent or own your home, your monthly housing payment and whether you have tax residency in another country.

Step 5: Fill out your balance transfer details.

Provide the account numbers of the credit cards you wish to transfer over, as well as how much of each balance you want to transfer.

Step 6: Review and submit your application.

Confirm the details that you’ve entered are correct, and ensure you understand the terms and conditions before submitting your application. If your application is approved, the HSBC applications team will advise how much you have been approved for and will transfer the balances from your credit card accounts to your new HSBC credit card within 14 days.

I got the card. Now what?

  • Confirm your balance transfers have been processed. HSBC states it can take up to 14 days to transfer the balances from your old credit cards over to your new HSBC credit card. After two weeks have passed, contact your old credit card issuers to make sure they’ve been paid off by HSBC. Learn more about what to do with your old credit cards here.
  • Make timely payments. You can pay your credit card bill on the HSBC website, where you can also enroll in autopay to ensure you don’t miss a payment.
  • Avoid interest. After the close of each billing cycle, you have a grace period of 25 days to pay your purchase balance without paying interest. However, if you’re serious about paying off your debt, you may want to avoid making new purchases at all until after you’ve paid off your card.
  • Avoid fees. Late and returned payments come with hefty fees up to $37, and some cards even come with a penalty APR if you make a late payment. Since the whole point of signing up for an HSBC balance transfer card was for it’s 0% intro APR, this can seriously hurt your strategy to get out of debt without paying interest.
  • Contact customer service. If you notice something off with your bill or have questions, reach out to HSBC by calling 888-385-8916.

Bottom line

An HSBC balance transfer credit card could be a worthwhile debt consolidation strategy. The HSBC Gold Mastercard® credit card, one of the bank’s best offerings, has a great intro APR, which could seriously help you get out of debt without paying unnecessary fees or interest. However, as there are many other balance transfer credit card offers available on the market, compare your options to find the right card for you.

Frequently asked questions about HSBC balance transfer cards

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Jennifer Gimbel

Jennifer Gimbel is an editor at finder.com and works with their team on producing the most informative and transparent comparisons on the Internet today. In her spare time, she loves to sketch, knit and take an obnoxious number of pictures of her puppy, Olive.

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Important Information*
Deserve® Classic Card
Deserve® Classic Card

APR

24.49
variable

Annual fee

0 For the first year
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Luxury Card Mastercard® Gold Card™
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APR

16.74
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995 For the first year
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APR

23.9
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US Credit Card Offers

Important Information*
Deserve® Classic Card
Deserve® Classic Card

APR

24.49
variable

Annual fee

0 For the first year
More info
Luxury Card Mastercard® Gold Card™
Luxury Card Mastercard® Gold Card™

APR

16.74
variable

Annual fee

995 For the first year
More info
First Access Visa Card®
First Access Visa Card®

APR

29.99
variable

Annual fee

75 For the first year
More info
Indigo® Platinum Mastercard® Credit Card
Indigo® Platinum Mastercard® Credit Card

APR

23.9
variable

Annual fee

75 For the first year
More info
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