A long intro APR period on purchases and balance transfers and no annual fee.
- Get this card if you want a travel card with an intro APR period for purchases and balance transfers.
- Pick something else if you want accelerated points on specific categories.
- Apply with a good to excellent credit score of 670 or higher.
|Product Name||HSBC Platinum Mastercard® with Rewards Credit Card|
|APR (Annual Percentage Rate) for Purchases||14.74%, 18.74%, or 24.74% variable|
|Introductory Purchase APR||0% for the first 12 months (then 14.74%, 18.74%, or 24.74% variable)|
|Balance Transfer APR||14.74%, 18.74%, or 24.74% variable|
|Introductory Balance Transfer APR||0% for the first 12 months (then 14.74%, 18.74%, or 24.74% variable)|
|Balance Transfer Fee||$10 or 4% of the transaction, whichever is greater|
|Cash Advance Rate||26.74% variable|
|Foreign Transaction Fee||None|
|Cash Advance Fee||$10 or 4% of the cash advance amount, whichever is greater|
|Interest Free Period||Up to 25 days|
|Late Payment Fee||$37|
|Returned Payment Fee||$25|
|Additional Cardholder Fee||$0|
|Rates & Fees||Rates & Fees|
|Minimum Age||18 years of age|
|Welcome Offer||Earn 15,000 Rewards Program Bonus Points which can be redeemed for $150 cash back after you spend $500 or more on purchases in your first 3 months from account opening.|
|Rewards||Earn 1 Rewards Program Point for every dollar spent on purchases.|
|Base Rewards||1x points|
|Rewards Points Expiration||Never|
The HSBC Platinum Mastercard® with Rewards Credit Card deserves a spot in the travel card conversation. It doesn’t charge foreign transaction fees or an annual fee, and it offers a solid signup bonus.
When you factor in the travel perks like car rental insurance, travel accident insurance and roadside assistance and the long intro APR periods for purchases and balance transfers, it becomes a solid option for the casual traveler.
No annual fee.
The card comes without an annual fee.
Spend $500 in your first three months of card membership and earn 15,000 bonus points. According to the HSBC website as of January 2019, that’s up to $150 worth in cash back.
Earn unlimited 1x points on every purchase you make.
You’ll also like …
No foreign transaction fees.
If you travel abroad, use the card freely without incurring any foreign transaction fees.
Intro APR period.
From the day you open your account, you have 12 months of interest-free period on balance transfers and purchases. After that, a variable APR of 15.24%, 19.24% or 25.24% applies.
Simplify your credit card payments with your mobile device by using either Google Pay , Apple Pay or Samsung Pay.
Receive up to $1 million in coverage if you’re involved in an accident on a commercial passenger vehicle. The coverage includes you, your spouse and your unmarried dependent children. Also receive up to $50,000 in coverage for collision, theft or damage of a rental vehicle.
What to watch out for
Balance transfer limitations.
Complete your balance transfers within your first 60 days of card membership. Otherwise, you won’t be able to use the intro APR period.
If you make a single late payment, HSBC may impose a penalty APR of 32.24% variable. This will apply for at least six months, but it may last indefinitely.
Loss of intro APR period.
If you’re more than 60 days late on your payment, HSBC may end your intro APR period and impose the penalty APR.
HSBC Platinum Mastercard® with Rewards Credit Card vs. Bank of America® Travel Rewards credit card
|HSBC Platinum Mastercard® with Rewards Credit Card||Bank of America® Travel Rewards credit card|
|Signup bonus||Earn 15,000 Rewards Program Bonus Points which can be redeemed for $150 cash back after you spend $500 or more on purchases in your first 3 months from account opening.||25,000 points Earn 25,000 online bonus points after spending $1,000 within the first 90 days from account opening|
|Rewards||1x points on all purchases||1.5x points on all purchases|
|Intro purchase APR||0% for 12 months following account opening||0% for 12 statement closing dates following account opening|
|Intro balance transfer APR||0% for 12 months following account opening||None|
|Foreign transaction fees||None||None|
What should I know before I apply?
To apply for the card, you must be at least 18 years old.
When applying, you’ll need to submit:
- Your full name and contact information.
- Your annual income and employment information.
- Your Social Security number and date of birth.
- Identifying documents, such as your driver’s license.
What credit score do I need?
You’ll have a better chance of approval if you apply with a good to excellent credit score of 670 or higher.
What do customers say about the HSBC Platinum Mastercard® with Rewards Credit Card?
Most customer complaints revolve around issues with fraud and HSBC blocking their credit cards after first use. Also, customers complain about long wait times when talking to HSBC customer service and the time it takes to resolve their issues.
At the moment of writing, the Better Business Bureau is yet to rate or accredit HSBC credit card services.
If you need to call into HSBC, be sure to allow plenty of time, and have any necessary information on hand to get through the process a little faster.
How to apply for the HSBC Platinum Mastercard® with Rewards Credit Card
- Go to the HSBC website and click Apply now.
- If you’re an HSBC customer, click Log on to apply. Otherwise, click Apply now.
- Fill out the application.
- Review your application and submit.
How long will it take to get my HSBC Platinum Mastercard® with Rewards Credit Card?
HSBC will usually give a decision within 30 seconds. Upon approval, you have to wait up to six business days to get your credit line and credit card information.
Your card should arrive within six business days of approval.
I got the card. Now what?
- Download the HSBC Mobile Banking app. Use the app to transfer money, pay your bills and more.
- Avoid interest. After the close of each billing cycle, you have a grace period of 25 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid fees. Late payments cost up to $37 and returned payments cost up to $25.
- Customer service. If you have questions, call HSBC at 800-975-4722. You can also send a secure email through the HSBC website or tweet the bank @HSBC_US.
How do I redeem points from the HSBC Platinum Mastercard® with Rewards Credit Card?
Log in to your online rewards account or call 888-385-8916 to redeem your points. Redemption options include:
- Merchandise — electronics, luggage, kitchen appliances and more.
- Gift cards — including those for dining, travel and shopping.
- Cash — as a statement credit or a deposit to your HSBC Bank US account.
- Travel — use points for flights, cars and travel experiences or use them for a statement credit as reimbursement for your travel purchases.
- TSA PreCheck — use points as a statement credit when you pay for the TSA PreCheck application fee.
- Charity — get a CharityChoice gift card and choose from more than 1,000 available organizations to donate to.
The HSBC Platinum Mastercard® with Rewards Credit Card comes without an annual fee and without foreign transaction fees. It lets you earn reward points, and you can use a long intro APR period on balance transfers and purchases.
However, if it doesn’t seem quite robust enough, consider looking at other travel credit cards and compare your options.