HSBC Gold Mastercard Review [2024]: A Great Option for Balance Transfers

Looking for a credit card that can help you complete a balance transfer or fund upcoming expenses interest-free? This might just be it.
Updated July 11, 2024
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Editor's note:
The HSBC Gold Mastercard is no longer available. For more options, please see our best 0% APR credit cards for the latest offers.

The HSBC Gold Mastercard is free of foreign transaction fees, making it an attractive choice for anyone with upcoming travel plans or expenses who can take advantage of the interest-free credit.

Who should get this card?

The HSBC Gold Mastercard requires good-to-excellent credit, but if you qualify, the benefits might be well worth it. The card is pretty forgiving on fees, with no foreign transaction fees; one late-payment fee is also waived every year.

This card doesn’t offer a rewards program, so if you’re looking for a credit card to help you rack up points or cash back, you’d be better off with something else.

Card basics

Recommended Credit Score Excellent, Good
Foreign Transaction Fee None

Top card benefits

  • Late fee waiver: A late fee of no fee for the first missed payment within a 12-month calendar period; up to $39 after that is waived once every 12 months, allowing you to make one late payment free of charge before the fee kicks in.
  • No penalty APR: HSBC won’t raise your APR due to late payments. Unlike some companies that penalize cardholders for missing a due date, this card won’t increase your interest rates just because you forgot to pay on time.
  • No foreign transaction fees: Although the card doesn’t offer travel rewards, it also won’t charge you foreign transaction fees— meaning you can take it abroad stress-free. These fees can add up quickly during international trips, making this a great perk for the regular jet setter or even the occasional business traveler.

Common questions

How do I transfer a balance to the HSBC Gold Mastercard Credit Card?

Balance transfers can be completed online, by check, or over the phone. Keep in mind that balance transfers cannot exceed your credit limit on the card. A fee of $10 or 4%, whichever is greater.

It may take seven to 10 business days for the balance transfer to be finalized, during which time you should continue to make payments to your previous lender.

Does the HSBC Gold Mastercard Credit Card offer any rewards?

Though this card is free to open, it won’t help you earn any points or cash back. Unfortunately, this card doesn’t offer any rewards.

What are the benefits of a Mastercard?

With this Mastercard, you’ll enjoy additional perks like travel accident insurance and additional rental car insurance with secondary coverage. You’ll also receive discounted access to certain golf courses, complementary grounds passes for PGA (Professional Golfers’ Association of America) Tournaments, and access to Mastercard’s Priceless Cities program, which offers exclusive activities and events in cities around the world.

What credit score does the HSBC Gold Mastercard Credit Card require?

The HSBC Gold Mastercard requires good-to-excellent credit. If yours is less than perfect, consider waiting to apply until you improve your credit.

Other cards to consider

Two other (and relatively similar) cards worth considering are the Chase Slate Edge℠ and Citi Simplicity® Card. The Chase Slate Edge starts you out with  0% intro APR on purchases and balance transfers for 18 months (then 20.49% - 29.24% Variable). 

The Citi Simplicity offers a 0% intro APR on purchases for 12 months and a 0% intro APR on balance transfers for 21 months.  After the intro APR periods end, the APR is 19.24% - 29.99% (Variable). Neither card charges annual fees, nor will they increase your APR for late payments. 

Keep in mind that these cards don’t offer any sort of rewards programs, and both charge foreign transaction fees, so they’re probably not your most travel-friendly options.

Author Details

Larissa Runkle Larissa writes for FinanceBuzz and divides her time between a cabin in the San Juan Mountains and traveling in a van. She enjoys writing about travel, debt relief, personal loans, and mortgages. Her work has been featured on MagnifyMoney, LendingTree, and Outside of finance and real estate writing, she’s also at work on several fiction projects. When away from the computer, you’ll find her reading, exploring local trails, and climbing rocks.