A passable travel card that’s outclassed by competitors like the BankAmericard Travel Rewards.
- Get this card if… you want a travel card with an intro purchase and balance transfer APR.
- Pick something else if… you want strong rewards on spending.
- Recommended good to excellent credit score of 670 to 850.
|Product Name||HSBC Platinum Mastercard® with Rewards Credit Card|
|APR (Annual Percentage Rate) for Purchases||14.99%, 18.99%, or 24.99% variable|
|Introductory Purchase APR||0% for the first 12 months (then 14.99%, 18.99%, or 24.99% variable)|
|Introductory Balance Transfer APR||0% for the first 12 months (then 14.99% or 18.99%, or 24.99% variable)|
|Balance Transfer Fee||$10 or 4% of the transaction, whichever is greater|
|Cash Advance Rate||26.99% 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.|
|Reward Value per Dollar||1x points|
|Rewards Points Expiry||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. It offers 15,000 signup bonus points and 1x points on all spending. And it includes travel perks like car rental insurance, travel accident insurance and roadside assistance.
That’s not bad, except the card is beaten on most fronts by the Bank of America® Travel Rewards credit card. The latter has no annual fee, a better signup bonus, an identical 0% intro APR period and comparable — or better — travel benefits.
Fortunately, the HSBC Platinum Mastercard® with Rewards Credit Card has a few tools to fight back. It offers 0% intro APR on balance transfers for 12 months as well as a $1 million travel accident insurance policy on a common carrier.
Unless those features are important to you, however, you’ll likely get more out of the BankAmericard. And if you’re willing to pay an annual fee, consider a more power-packed travel card like the Chase Sapphire Preferred® Card or Barclaycard Arrival® Plus World Elite Mastercard®, both of which have annual fees after the first year.
Compare Bank of America® Travel Rewards credit card vs. Barclaycard Arrival® Plus World Elite Mastercard®
- SIGNUP BONUS: 15,000 bonus points 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.
- INTRO APR: On purchases and balance transfers.
The HSBC Platinum Mastercard® with Rewards Credit Card comes with a solid introductory interest rate. Get 0% APR for 12 months on purchases and balance transfers.
- POINTS: On all purchases.
Earn 1 point per dollar you spend on any purchase. Redeem points for merchandise, gift cards and travel.
- No annual fee.
What can I redeem my points for?
You have a few options when it comes to redeeming your points:
- Merchandise — electronics, luggage, kitchen appliances and more.
- Gift cards — including those for dining, travel and shopping.
- Cash back or statement credit.
- Travel — flights, cars and travel experiences.
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||0% for 12 statement closing dates|
|Intro balance transfer APR||0% for first 12 months||None|
|Foreign transaction fees||None||None|
You’ll also like
- No foreign transaction fees.
Use your HSBC Platinum Mastercard® with Rewards Credit Card abroad without incurring transaction fees.
- Theft Resolution Services.
If your identity is stolen, HSBC will replace your card and notify the credit bureaus.
- Travel insurance.
Receive up to $1 million in coverage if you’re involved in an accident on a commercial passenger vehicle. Also receive up to $50,000 in coverage for collision, theft or damage of a rental vehicle.
- Travel benefits.
Get travel assistance and roadside services while you’re on vacation.
- Shopping perks.
Get purchase coverage, extended warranties and price protection.
Which HSBC Platinum Mastercard should I get?
The HSBC Platinum Mastercard shines as a 0% APR card: You’ll get 0% on purchases and balance transfers for 18 months. But it’s a poor travel card, with no signup bonus or spending rewards.
The HSBC Platinum Mastercard® with Rewards Credit Card’ intro APR is less exciting: 0% on purchases and balance transfers for 12 months. However, you’ll get a signup bonus and 1x points on all purchases.
What to watch out for
- Fees for balance transfers, cash advances and overdrafts.
You’ll pay the greater of $10 or 4% of the cash advance amount, whichever is greater .
Consider other cards if
- You want more rewards in bonus categories.
The Chase Sapphire Preferred® Card offers 2x points on travel and dining. The Platinum Card® from American Express offers 5x points on flights as well as bookings through American Express Travel.
What should I know before I apply?
To apply for the HSBC Platinum Mastercard® with Rewards Credit Card, you must be at least 18 years old.
You must also be an HSBC customer. If you’re not, you can join the bank when you apply for the card.
Information you’ll need
When applying for the card, you’ll need to submit:
- Your HSBC savings or checking account details.
- 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 for the HSBC Platinum Mastercard® with Rewards Credit Card if you apply with a good to excellent credit score of 670 or higher.
How to apply for the HSBC Platinum Mastercard® with Rewards Credit Card
1. Go to the HSBC website and click Apply now.
2. If you’re an HSBC customer, click Log on to apply. Otherwise, click Start your application.
3. Fill out the application with your contact, income and identification details.
I got the card. Now what?
- Make timely payments.
Pay your card bill online at the HSBC website, where you can also enroll in autopay.
- 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. Foreign transactions also come with fees.
- 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.
The HSBC Platinum Mastercard® with Rewards Credit Card charges no annual fee, which is a big plus. You can earn rewards at your own pace and redeem points whenever you’re ready.
However, you’re probably better off applying for the Bank of America® Travel Rewards credit card. Unless you want an intro balance transfer APR or a travel insurance policy on a common carrier, the Travel Rewards offers better features across the board.