Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
Compare HSBC balance transfer offers for July 2020
HSBC's decent range of balance transfer credit cards allows you some flexibility in dealing with your debt.
If you believe it’s going to take a long time to pay it off, you can opt for a card that charges a balance transfer fee but allows a long interest-free period on balance transfers – HSBC often offers one of the longest available on the market.
For those who are planning a quicker debt repayment instead, there’s also a fee-free option that comes with a shorter interest-free period. Existing Advance and Premier HSBC customers can get dedicated balance transfer credit cards with a nice series of rewards on top.
Like most card issuers, HSBC doesn’t accept balance transfers from other HSBC credit 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.
HSBC 0% balance transfer credit cards
How do HSBC balance transfers work?
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.
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 over the phone.
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.
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.
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