Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.
Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.
Written ByRobin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.
Robin Saks Frankel is a senior credit cards and personal finance writer and editor for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including USA TODAY Blueprint, NerdWallet, Bankrate and.
Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
Caroline Lupini Managing Editor, Credit Cards & Travel RewardsCaroline Lupini has been traveling the world with the help of credit card rewards since 2011. She has visited over 110 countries and is able to utilize her knowledge of credit cards and to make travel both less expensive and more luxurious. Caroline.
| Managing Editor, Credit Cards & Travel Rewards
Updated: Jan 4, 2024, 7:08am
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The HSBC Gold Mastercard® credit card has plenty going for it with a once-every-12-months late fee waiver, light travel benefits and neither foreign transaction fees nor annual fees. The balance transfer card really shines though, with its 0% Intro APR on purchases for 18 months and balance transfers made within 60 days of account opening, followed by a relatively low standard APR (13.99% – 23.99% Variable APR on purchases and balance transfers based on creditworthiness).
Though not alone at this rate bracket, paired with a late fee waiver and long introductory 0% APR period, the card offers solid performance as a balance transfer card.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
A solid choice for travelers who need a balance transfer card, the HSBC Gold Credit Card offers zero foreign transaction fees, no annual fee and a leisurely 0% Intro APR on purchases for 18 months (followed by a standard 13.99% – 23.99% Variable APR on purchases and balance transfers) for the card.
In addition to having no foreign transaction fees, this credit card’s additional benefits, like the MasterRental secondary rental vehicle coverage or the $1,000,000 in travel accident insurance coverage, may provide the occasional traveler some perks worth having. Even sweeter: With Mastercard Global Service providing fraud protection if things go awry, cardholders aren’t liable for unauthorized purchases.
Though there’s no welcome bonus and no cash back or points rewards, the HSBC Gold Mastercard’s long 0% Intro APR on purchases for 18 months (followed by standard purchase APR: 13.99% – 23.99% Variable APR on purchases and balance transfers) offers a luxurious period of 0% interest. That, combined with the card’s once-yearly late fee waiver might make this a choice worth considering for those who’d like the occasional slip-up forgiven.
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Our credit card editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Discover it® Cash Back On Discover's Website Welcome Bonus Cashback Match™ Annual Fee Credit Score Excellent/Good Regular APR 18.24% - 28.24% Variable APRCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
Citi Simplicity® Card Welcome Bonus Annual Fee Credit Score Excellent, Good Regular APR 19.24% - 29.99% (Variable)Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
The HSBC Gold Mastercard Credit Card offers a 0% introductory APR on purchases for 18 months from the date of account opening, after which the card’s standard APR applies (13.99% – 23.99% Variable APR on purchases and balance transfers based on creditworthiness.)
For balance transfers made within 60 days of opening an account, a 0% introductory APR is also offered for the same 18 months after account opening, after which the card’s standard APR applies. Balance transfers made after the first 60 days are not eligible for the introductory offer.
See your cardholder agreement for current rates and fees.
Choosing between the HSBC Gold Mastercard and the U.S. Bank Visa® Platinum Card * could come down to the perks alone. Both cards offer long 0% introductory APR periods followed by a similar standard APR range. The US Bank Platinum Visa’s offers a 0% intro APR on purchases and balance transfers for 21 billing cycles, followed by a variable APR of 18.74% - 29.74%. Balance transfers made within 60 days qualify for the intro APR and a balance transfer fee of 5% or $5, whichever is greater, applies.
Neither cards have annual fees nor a penalty APR, the benefits from there become quite varied. The HSBC Gold Mastercard’s central offering is its once a year late fee waiver, but many of its perks are travel-oriented—zero foreign transaction fees, for example. The US Bank Platinum Card does have a foreign transaction fee, but what it lacks in travel benefits it compensates somewhat for with cell phone protection for those who pay their cellular plan bill with the card.
For some, the additional travel benefits and other perks of the HSBC Gold Mastercard might be more worthwhile, but any way we stack it these cards remain fairly similar.
While the HSBC Gold Mastercard credit card is a balance transfer card and the Discover it® Cash Back credit card is a cash back credit card, a comparison should provide value if only to illustrate some of the common differences.
The Discover it® Cash Back’s Cashback Match™ program means Discover will automatically match all the cash back earned at the end of the first year as a cardmember. There's no minimum spending or maximum rewards. This means the Discover it® Cash Back provides rewards—something the HSBC Gold Mastercard doesn’t. The Discover it® Cash Back offers a 0% introductory APR for 15 months on purchases and eligible balance transfers. Then, a standard rate of 18.24% - 28.24% variable applies. A balance transfer fee of up to 5% of the amount transferred applies.
Which card wins? As always: It depends on the cardholder’s priorities. Longer 0% introductory APR but higher standard rate to follow? Do the math and see which works better for you.
If you’re seeking a balance transfer card with forgiveness for the occasional late or missed payment, the Citi Simplicity® Card * merits consideration. The no-annual-fee card comes with an intro balance transfer offer of 0% intro APR for 21 months on balance transfers from date of first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 19.24% - 29.99%. There is an intro balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater, for transfers made within 4 months of opening the account. After that, a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies. You may find the card’s generous policy when it comes to missteps might make the balance fee worth it. The card charges no late fees or penalty charges if you don’t make a payment on time.
For those who want to use the balance transfer features of this card, there might be use for the HSBC Gold Mastercard. For those who don’t plan to hold a balance long term, a cash back card might be better. The travel benefits are a nice perk of this card, but with so many cash back and other rewards available with other cards, this card certainly has its useful limit.
As far as balance transfer cards go, this card provides some space in time and the standard card APR remains competitive, but the headliner is an annual late payment fee waiver that could appeal to those who may not be as gifted with deadlines.
*The information for the following card(s) has been collected independently by Forbes Advisor: U.S. Bank Visa® Platinum Card, Citi Simplicity® Card . The card details on this page have not been reviewed or provided by the card issuer.
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