Compare other travel credit cards
The HSBC Platinum Mastercard 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 BankAmericard Travel Rewards.
On the flip side, the HSBC Platinum Mastercard 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.
- INTRO APR: On purchases and balance transfers.
- The HSBC Platinum Mastercard 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 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 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 vs. BankAmericard Travel Rewards
The HSBC Platinum Mastercard isn’t so great as a travel card. But it’s an excellent choice for an intro APR.
|HSBC Platinum Mastercard||BankAmericard Travel Rewards|
|Annual fee||$0 p.a.||$0 p.a.|
|Signup bonus||None||20,000 points 20,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening - which can be redeemed for a $200 statement credit toward travel purchases.|
|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 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 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
- You want rewards. The HSBC Platinum Mastercard is a no-frills card — it doesn’t come with points, miles or cash back. For travel rewards, look into the Chase Sapphire Preferred, Barclaycard Arrival Plus or BankAmericard Travel Rewards.
What should I know before I apply?
- To apply for the HSBC Platinum Mastercard, 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.
- Always consider your options and your financial situation before you apply for a credit 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 if you apply with a good to excellent credit score of 680 or higher.
How to apply for the HSBC Platinum Mastercard
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. Complete the application with your contact info, income and ID details.
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 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 $25.00. 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.
If you’re looking for a travel card, consider passing on the HSBC Platinum Mastercard. 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 is an excellent choice. You’ll get a 0% APR for 12 months on purchases and balance transfers.