How HSBC balance transfer offers work

If you’re carrying credit card debt and think you could save money on interest by taking advantage of a balance transfer offer, HSBC should be one of the brands you consider. While these cards can offer a break from interest for a set period, they usually come with a balance tranbsfer fee. That fee’s typically about 3% of the balance you’re bringing across, so it can easily run into the hundreds.

HSBC offers multiple balance transfer deals, ranging from ultra-long, table-topping 0% periods with bog standard balance transfers fees, through to shorter 0% periods with reduced balance transfer fees. The no-fee deals should always be your first port of call. If one of those can give you long enough to clear your debt, then it’s likely to be your cheapest option.

HSBC 0% balance transfer credit cards

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Finder Score	Balance transfers	Purchases	Annual/monthly fees	Representative APR	Incentive
Promoted 9.5Excellent HSBC Balance Transfer Credit Card (36 Mths)	9.5Excellent	0% for 36 months (3.09% fee)	0% for 3 months	£0	25.9% APR (variable)	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: Representative 25.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 25.9% p.a. (variable).	Check eligibility More info Compare product selection Compare	loading
8.3Great HSBC Purchase Plus Credit Card	8.3Great	0% for 17 months (3.49% fee)	0% for 24 months	£0	25.9% APR (variable)	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home and Away. Representative example: Representative 25.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 25.9% p.a. (variable).	Check eligibility More info Compare product selection Compare	loading
6.9Standard HSBC Rewards Credit Card Existing Customers Only	6.9Standard	0% for 6 months (2.99% fee)	0% for 6 months	£0	26.9% APR (variable)	Earn up to 10 points for every £1 spent at selected retaillers and 1 point for every £5 spent on purchases everywhere else. Bonus 2,500 reward points on anniversary if £10,000 spent in previous year. 1 point = 1p (no min) Representative example: Representative 26.9% APR variable. Based on assumed borrowing of £1,200. Rate of interest 26.9% p.a. (variable).	More info Compare product selection Compare	loading

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How do HSBC balance transfers work?

1. If you’re interested in one of HSBC’s balance transfer deals, start by checking your eligibility either on the HSBC site or on a comparison site (like
   Finder
   !). You’ll fill in some personal details and the tool will run a so-called “soft check” to tell you if you’re likely to be accepted for the cards without your credit score being affected.
2. If it’s good news, you can then proceed with the application. If you’re already an HSBC customer you can either apply online by logging in to your personal banking (HSBC will automatically fill in the form with your details for you) or by popping into a branch. If you’re a new customer, you’ll need to fill in an online form with your personal details, employment status and salary. During the application process you’ll be prompted to give the details of the balance(s) you wish to transfer. Alternatively you can request a balance transfer in the app later.
3. Once you receive the card in the post, you can call HSBC to activate your card (or if you already use the HSBC app, you can activate it from there). Now your balance transfer can be actioned. In practice, this means that HSBC “pays off” your old lender and takes over your debt.

While you’re paying off the balance you’ve transferred, you’ll still be able to enjoy up to 56 days interest free on new purchases, provided you pay off your main balance in full and on time each month.

Like most card issuers, HSBC doesn’t accept balance transfers from other HSBC credit cards (or M&S Bank, John Lewis or first direct cards). If you’re carrying a balance on an HSBC card and need interest-free time to clear your debt, you may want to compare other deals available on the market.

Existing Advance and Premier HSBC customers can get dedicated balance transfer credit cards with a nice series of rewards on top (but try not to let the rewards lure you into additional spending on the cards).

How long does an HSBC balance transfer take?

Once your application has been accepted, it could take up to seven working days to receive your card. You then need to activate it, which you can do online or in the app provided you already use HSBC internet banking, or alternatively you’ll need to get on the phone (0800 328 1370).

After that, you should transfer your balance to your new card as soon as possible – there’s usually a 60 days period after which the introductory balance transfer fee won’t apply anymore, and also, the sooner your old card stops accruing interest, the better.

What’s good or bad about HSBC balance transfers?

Hands-on test: I tried out a HSBC balance transfer when paying-off a new car

"When my old car gave up the ghost, I needed to quickly replace it if the kids were still going to get to school! I’d paid for the new (well, new-to-me) car using my day-to-day Halifax credit card. If I’d had more time, I’d have taken out a long 0% purchases deal in advance. I knew my Halifax card balance would start incurring interest at a rate well above 20% unless I paid it off when the next bill came through.

So this was a great opportunity to try out HSBC’s balance transfer service – after all, you can’t balance transfer within your existing banking group (Lloyds in this case) because banks use balance transfers specifically to attract new customers.

Everything was pretty straightforward with HSBC. The transfer was actioned without me having to close the old card. A long time later, I was grateful to receive a text message reminder about 3 weeks prior to my 0% period expiring. At that point, another detail I liked was being able to request that the account be closed, purely through the live chat facility. I wasn’t chatting with a human, but was still able to action the closure (or at least initiate it – the account disappeared from the app perhaps 48 hours later). I nearly cried with relief that I wouldn’t have to wait on hold for hours to speak to a human on the other side of the world to get the account closed!"

Chris Lilly

Head of publishing

How should I compare HSBC balance transfers?

Here are some of the key features you’ll want to look at when deciding which HSBC balance transfer offer might be the best option for you:

• Length of 0% period. Divide your balance by the number of months in the 0% deal to see how much you’d need to pay each month to clear your debt before the promotion expires. If you think you could clear the balance in even less time, then you might want to look at shorter deals with lower balance transfer fees.
• Balance transfer fee. This will be a percentage of the balance that you plan on transferring, so for larger balances, it becomes more significant.
• Purchase rate. This is the rate that will apply to any purchases you make on the card, and it’s also usually the rate that will apply if you haven’t cleared your balance by the end of the 0% period.

HSBC customer reviews

In our 2025 customer satisfaction survey, 80% of HSBC credit card customers stated that they’d recommend it to a friend. Several customers said that the brand had good customer service as well as good rates. One customer said that their credit card was “easy to use anywhere and without a problem.”

Contact HSBC customer support

Frequently asked questions

• Can I transfer a balance from my existing HSBC card to a new HSBC card?

  Unfortunately, HSBC doesn’t accept balance transfers from credit cards issued by any bank of the HSBC group, which also includes M&S Bank, John Lewis Financial Services and first direct.

• How much can I transfer to an HSBC balance transfer card?

  Up to 90% of your personal credit limit.

• Can I transfer multiple balances to an HSBC balance transfer card?

  Yes, provided you don’t exceed 90% of your personal credit limit. Each transfer will incur a separate balance transfer fee.

• Can I transfer balances held in somebody else's name to an HSBC credit card?

  Yes. Note that the debt will become solely your responsibility.

• What credit limit will HSBC give me on a balance transfer card?

  Your credit limit will be tailored to your personal situation, but frustratingly HSBC won’t tell you yours until you proceed to applying for a card (and that involves a full credit search). The lowest credit limit HSBC offers is £500.

• When does HSBC's 60-day balance transfer window start from?

  It starts on the day your account is opened. So that’s not the day you receive your card, not the day you activate your card, but before this point – when you accept the credit agreement and HSBC actually create your new account. So you should activate your card as soon as you receive it to ensure a smooth balance transfer, as HSBC won’t action your transfer until you’ve done this.

• How do I become an HSBC Advance or Premier customer?

  You need to apply and be accepted for an Advance Bank Account or for a Premier Bank Account first. To become eligible for an Advance Bank Account, you need to pay at least £1,750 a month into your current account. To apply for a Premier Bank Account you need to earn at least £75,000 a year and have a mortgage, investment, life insurance or protection product with HSBC (or at least £50,000 invested).

Written by

Chris Lilly

Head of publishing

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Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio

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Chris has written 502 Finder guides across topics including:

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