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HSBC Platinum Mastercard® with Rewards Credit Card

HSBC Platinum Mastercard® with Rewards credit card

Intro Rewards Points Offer

HSBC Platinum Mastercard® with Rewards credit card
  • Regular Purchase APR 14.49%, 18.49%, or 24.49% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 14.49%, 18.49%, or 24.49% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 26.49% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Intro Purchase APR 0% for the first 12 months from account opening
  • Processing Network Mastercard
Best Benefits
  • Special introductory offer: Earn 3x rewards points on all purchases made in the first 12 months from account opening, up to the first $10,000 in purchases
  • Earn 1 Rewards Program Point for every dollar spent on all purchases
  • Redeem accumulated rewards for merchandise or gift cards from thousands of retailers
  • No annual or foreign transaction fees, 0% APR for 12 months on purchases and balance transfers
Rates & Fees
  • Intro Purchase APR: 0% for the first 12 months from account opening
  • Regular Purchase APR: 14.49%, 18.49%, or 24.49% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for the first 12 months on transfers posted within the first 60 days of account opening
  • Balance Transfer APR: 14.49%, 18.49%, or 24.49% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 26.49% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
  • Penalty APR: 31.49% variable based on the Prime Rate
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39

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At a Glance

The HSBC Platinum Mastercard® with Rewards credit card attracts with a sign-up bonus and introductory 0% APR period, two welcome features that complement an average suite of cardholder benefits.

Ideal for Those Who:

  • Are looking for a boost to your HSBC Rewards Program points balance
  • Are shopping for a rewards credit card with no annual or foreign transaction fees
  • Want more choices when it comes to redeeming your earned rewards
  • Want the peace of mind knowing that your travels are insured as a cardholder

HSBC Platinum Mastercard® with Rewards Review

The HSBC Platinum Mastercard® with Rewards gives you 1 Rewards Program Point for every dollar you spend on purchases. It’s a little thin compared to what other rewards cards offer, but it’s cushioned by the sign-up bonus: 15,000 points after spending $500 within the first three months as a cardholder. That boon is worth $150 when it’s time to redeem, which you can do so as a statement credit, a purchase from thousands of partnered retail brands, or in exchange for a gift card.

This card also suits customers who might have a big-time purchase on their minds and who could benefit from carrying a balance with no interest charges. When you open an account for a HSBC Platinum Mastercard® with Rewards, you’ll spend your first 12 months with 0% APR, which is a standard grace period compared to most other credit cards. This incentive also applies to balance transfers, so if you manage to score the lower end of the APR range after applying, it might be worthwhile to migrate an existing debt over to this HSBC account.

Another attractive feature of this card is the lack of fees. There is no annual fee, and you won’t be charged for making foreign transactions. There is also no fee to add authorized users to your account. So in a hypothetical scenario, one of your family members could take a trip abroad with their own Platinum Mastercard® at no extra cost to you; and they’ll earn you rewards points as they use it.

Should You Apply for the HSBC Platinum Mastercard® with Rewards?

The HSBC Platinum Mastercard® with Rewards is a good option for those who want to earn average points with every purchase – for no annual fee. 3X points for the first 12 months is an exceptional introductory bonus, even if it is capped at the first $10,000.Once that period concludes, the 1X points aren’t exceptional, but with no yearly charge, it may be worth applying for just for that introductory offer.