HSBC Platinum Mastercard review | finder.com

HSBC Platinum Mastercard® credit card review

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Please note: This card has been discontinued, and it is not available on our site.

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Compare other travel credit cards

Name Product Welcome Offer Reward Value per Dollar APR (Annual Percentage Rate) for Purchases Annual Fee
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
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17.99% to 24.99% variable
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Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
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Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
30,000 bonus miles after spending $1,000 in purchases on your new card in your first 3 months and a $50 statement credit after you make a Delta purchase with your new card within your first 3 months.
1x miles
17.74% to 26.74% variable
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30,000 bonus miles after you use your new card to make $1,000 on purchases within the first 3 months. Rates & Fees
75,000 Hilton Honors Bonus Points with the Hilton Honors American Express Card after you use your new card to make $1,000 in eligible purchases within the first 3 months of card membership.
3x points
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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
50,000 Membership Rewards® Points after you spend $2,000 on eligible purchases with your new card within the first 3 months
1x points
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$250
50,000 bonus Membership Rewards® Points when you spend $2,000 in the first 3 months Rates & Fees
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
2x miles
17.99%, 21.99% or 24.99% variable
$0 annual fee for the first year ($89 thereafter)
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days.
60,000 Membership Rewards® points after you use your new card to make $5,000 in purchases in your first 3 months.
1x points
None (Charge Card)
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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
125,000 Hilton Honors Bonus Points with the Hilton Honors American Express Ascend Card after you use your new card to make $2,000 in eligible purchases within the first 3 months of card membership.
3x points
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Earn 125,000 Hilton Honors™ Bonus Points after you spend $2,000 or more in purchases with your new card within the first 3 months of card membership. Rates & Fees
10,000 bonus miles after spending $500 in purchases on your new card in your first 3 months.
1x miles
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Receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
2x points
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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.

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The basics

The HSBC Platinum Mastercard® credit card occupies a strange space among its competition. It has helpful travel features — such as travel insurance and no foreign transaction fees — but it’s ultimately a poor travel card. That’s because it offers neither rewards nor a signup bonus. If you’re looking for a no-annual-fee travel card, you may be better off with the Bank of America® Travel Rewards credit card.

On the flip side, the HSBC Platinum Mastercard® credit card dominates with its intro APR: You’ll enjoy 0% APR for the 12 months on purchases and balance transfers. This beats even perennial favorites like the Chase Freedom Unlimited®.

Bottom line: There are better choices for travel cards. But if you want a killer intro APR, it’s hard to go wrong with the HSBC Platinum Mastercard® credit card.

The perks

  • INTRO APR: On purchases and balance transfers.The HSBC Platinum Mastercard® credit card comes with an excellent introductory interest rate. Get 0% APR for 12 months on purchases and balance transfers.
  • No annual fee.

You’ll also like

  • No foreign transaction fees. Use your HSBC Platinum Mastercard® credit card abroad without incurring transaction fees.
  • Theft Resolution Services. If your identity is stolen, HSBC will replace your card and notify 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. The card comes with travel assistance and roadside services while you’re on vacation.
  • Shopping perks. Get purchase coverage, extended warranties and price protection.

What to watch out for

  • No rewards. The HSBC Platinum Mastercard® credit card doesn’t have a signup bonus, and it doesn’t offer rewards for spending.
  • Fees for balance transfers, cash advances and overdrafts. You’ll pay the greater of $10 or 4% for each.

HSBC Platinum Mastercard® credit card vs. Bank of America® Travel Rewards credit card

The HSBC Platinum Mastercard® credit card isn’t so great as a travel card. But it’s an excellent choice for an intro APR.

HSBC Platinum Mastercard® credit card Bank of America® Travel Rewards credit card
Annual fee $0 $0
Signup bonus None Earn 25,000 online bonus points after spending $1,000 within the first 90 days from account opening
Rewards None 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 12 months None
Foreign transaction fees None None

Which HSBC Platinum Mastercard should I get?

The HSBC Platinum Mastercard® credit card shines as a 0% APR card: You’ll get 0% on purchases and balance transfers for 12 months. But it’s a poor travel card, with no signup bonus or spending rewards.

The HSBC Platinum Mastercard® credit card with Rewards credit card’s 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.

Consider other cards if

What should I know before I apply?

  • To apply for the HSBC Platinum Mastercard® 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® credit card if you apply with a good to excellent credit score of 680 or higher.

How to apply for the HSBC Platinum Mastercard® credit card

1. Go to the HSBC website and click Apply now. HSBC Platinum Mastercard Homepage
2. If you’re an HSBC customer, click Log on to apply. Otherwise, click Start your application.

HSBC log on to apply

3. Complete the application with your contact info, income and ID details.

HSBC Application

I got the card. Now what?

  • Make timely payments. You can 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 connect with the bank on Twitter @HSBC_US.

Bottom line

If you’re looking for a travel card, consider passing on the HSBC Platinum Mastercard® credit card. It has some helpful travel features, but it offers no signup bonus or rewards.

If you want a strong introductory APR, however, the HSBC Platinum Mastercard® credit card is an excellent choice. You’ll get a 0% APR for 12 months on purchases and balance transfers.

Frequently asked questions

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