HSBC Gold Mastercard Review [Fees, Credit Score, & Approval 2022]

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HSBC Gold Mastercard Review

Our HSBC Gold Mastercard review goes into detail about the pros and cons of the credit card, as well as who should and shouldn’t apply for it.

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Onto our HSBC Gold Mastercard review!


  • Introductory APR: 0% on balance transfers and purchases for 18 months
  • Variable APR (beyond introductory period): 13.99% – 23.99% on balance transfers and purchases
  • APR on Cash Advances: 24.99% (may vary depending on the Prime rate)

Fee Particulars

  • Annual Fee: $0
  • Balance Transfer Fee: 4% of balance transfer amount; minimum $10
  • Cash Advance Fee: $26.49
  • Foreign Transaction Fee: $0
  • Late Payment Fee: $39 (waived for one late payment each calendar year)
  • Returned Payment Fee: Up to $39

Pros vs. Cons of HSBC Gold Mastercard


  • A long, 18-month 0% APR period 
  • A one-time waiver per calendar year for late payment fees
  • No foreign transaction fees or penalty APR
  • Travel and other perks


  • Lack of sign-up bonus and a rewards program
  • Marginally higher balance transfer fees than comparable cards
HSBC Gold Mastercard Credit Card

Who Should Get The HSBC Gold Mastercard Credit Card?

The HSBC Gold Mastercard is a perfect fit for individuals who want to dodge the interest expense on their currently outstanding debt amount or finance a big purchase for the short term. 

The HSBC Gold Mastercard comes sans annual fees and offers a long, 18-month 0% introductory APR on balance transfers as well as purchases. 

While there are ample options in terms of balance transfer cards, the HSBC Gold Mastercard stands apart with its lenient policy for late payments. If you want to chase rewards, though, you will want to look elsewhere. 

Also, you cannot transfer balances to the HSBC Gold Mastercard from an existing HSBC credit card or bank account. So, if you want to transfer balances from your current HSBC account, this card is not for you.

HSBC Gold Mastercard Benefits and Features

  • A long 0% introductory APR period of 18 months

The HSBC Gold Mastercard comes with a long 18-month 0% introductory APR period during which you will not pay any interest on transferred balances, provided they were transferred within 60 days of account opening. The 0% introductory APR also applies to purchases you make during the 18-month window. 

Upon termination of the introductory period, the entire outstanding balance on your credit card will attract a variable APR of 13.99% – 23.99%. Note that if the total amount of balance transfers exceeds the limit offered to you by HSBC, you will request will be canceled. 

  • A lenient late fee policy

The HSBC Gold Mastercard offers a specific benefit for individuals who have a tendency to occasionally fall behind on their payments. The card waives off the late payment fee of up to $39 once each calendar year. There is no penalty APR for late payments either, so the savings may amount to a significant figure. 

Nevertheless, not paying your credit card bill for over 30 days will put a dent in your credit score. So, strive to make timely payments as best as you can. 

  • No foreign transaction fees

Most balance transfer cards do charge a foreign transaction fee. However, the HSBC Gold Mastercard has deviated from the norm and settled on not charging any foreign transaction fees to its cardholders. What’s more, the card does not charge a fee for adding an authorized user either.

  • Travel and other perks

Cardholders get a decent $1,000,000 travel accident insurance coverage with the HSBC Gold Mastercard. The card also offers the following additional benefits:

  • MasterRental secondary rental vehicle coverage
  • Discount on meet-and-greet services at airports
  • Protection against unauthorized purchases

RELATED: Chase Freedom Flex Credit Card Review.

What Makes Other Cards Better Than The HSBC Gold Mastercard?

  • High balance transfer fees

The HSBC Gold Mastercard levies a 4% (or a minimum of $10) balance transfer fee on the transferred amount. While this is not as bad as several other cards, the U.S. Bank Visa Platinum card levies a relatively lesser fee on balance transfers (3%), and also offers a longer introductory 0% APR period (20 billing cycles). However, the ongoing APR beyond the promotional interest-free period is a tad higher on the U.S. Bank Visa Platinum than the HSBC Gold Mastercard at 14.49% – 24.49%. 

  • Lack of a rewards program

The HSBC Gold Mastercard does not have an active rewards program. So, if you want a card that offers tempting cash backs, you may want to look at other options such as the Capital One Quicksilver Cash Rewards Credit Card that offers 1.5% cash on all purchases made with the card. As a Capital One Quicksilver Cash Rewards cardholder, you will be eligible for a $200 sign-up bonus upon spending $500 within 3 months of opening your account. To know more on how the Capital One Quicksilver Cash Rewards stacks against the HSBC Gold Mastercard, check the section “HSBC Gold Mastercard vs. Competitors’ Cards.”

  • Other cards offer even more leniency

If you expect to fall behind on your payments, the HSBC Gold Mastercard provides some relief by waving off fees charged for one late payment each calendar year. While this is a decent offer, other cards like Citi Simplicity Card – No Late Fees Ever may prove to be more beneficial if you occasionally pay your bills after the due date. The Citi Simplicity card does not charge any fees on late payments at all. The introductory 0% APR period on the Citi Simplicity card is also longer with 21 interest-free months on balance transfers (12 months for purchases). 

HSBC Gold Mastercard vs. Other HSBC cards

  • HSBC Gold Mastercard vs. HSBC Advance Mastercard

The only caveat with the HSBC Advance Mastercard is that the card comes with a $45 annual fee from the second year onwards. However, the fee is waived off provided you are eligible for an HSBC Advance or Premier relationship.

In all other aspects, the HSBC Advance stands shoulder-to-shoulder with the HSBC Gold and offers some additional perks, too. It offers an introductory 0% APR period of 12 months on balances transferred within 60 days from account opening and all purchases. The variable APR applicable has a shorter range than HSBC Gold at 14.99% – 18.99%. The lower end of the APR is 1% higher than the HSBC Gold Mastercard, while the upper end of the APR is lower by 5%. 

The HSBC Advance is a clear winner for individuals who want to rake in reward points for dollars spent. During the first year, cardholders earn 3 points for each dollar spent on dining and eligible entertainment purchases, 2 points for each dollar spent on any other purchases, up to a maximum of $25,000—beyond which cardholders earn 1 point for each dollar spent. 

  • HSBC Gold Mastercard vs. HSBC Cash Rewards Mastercard

Another HSBC card that competes with HSBC Gold is the HSBC Cash Rewards. As is evident from its name, the HSBC Cash Rewards is big on offering cash rewards to the cardholders.

However, the HSBC Cash Rewards also offers an introductory 0% APR for the first 12 months on balance transfers and purchases, with a variable 12.99% – 22.99% APR thereafter. Much like the HSBC Gold, the HSBC Cash Rewards does not charge a foreign transaction fee or an annual fee.

Cardholders stand to earn 1.5% cashback on all their purchases from the second year onwards. For the first year after opening the account, the HSBC Cash Rewards offers 3% on all purchases up to $10,000. 

RELATED: The Best Credit Cards For Balance Transfers.

HSBC Gold Mastercard Credit Competitors

HSBC Gold Mastercard vs. Competitors’ Cards

  • HSBC Gold Mastercard vs. U.S. Bank Visa Platinum

The cards have an almost twinning portfolio of features. Both cards have a long 0% introductory APR, although the U.S. Bank Visa Platinum’s 20 billing cycles are marginally more than the HSBC Gold’s 18 months. Both cards charge no annual fees or a penalty APR either.

The cards, however, differ when it comes to perks. One of HSBC Gold Mastercard’s strongest selling points is the waiver of late fees. Most other perks on the HSBC Gold hold appeal for frequent travelers, like zero foreign transaction fees. The U.S. Bank Visa Platinum charges cardholders a 2-3% fee on foreign transactions but makes up for it by offering benefits like cell phone protection.

If you are severely debt-ridden, it is unlikely you will have planned any major vacations for the foreseeable future. In such situations, the 2 additional 0% APR billing cycles of the U.S. Bank Visa Platinum might offer greater benefits than the HSBC Gold Mastercard’s travel perks.

  • HSBC Gold Mastercard vs. Capital One Quicksilver Cash Rewards 

The Capital One Quicksilver Cash Rewards comes with a slightly shorter 0% introductory APR of 15 months and charges a variable APR of 15.49% – 25.49% thereafter. However, it more than compensates for the 3 months with cashback offers and a one-time cash bonus.

As a Capital One Quicksilver Cash Rewards cardholder, you earn 1.5% cashback on all purchases—there are no caps on the amount of cashback you can earn, and it does not expire until your account remains active. Much like the HSBC Gold, the Capital One Quicksilver Cash Rewards does not charge any annual fee or fees on foreign transactions.

Cardholders who spend $500 within 3 months of opening their account are eligible for a one-time cash bonus worth $200. If you feel you can pay off your balances within 15 months, the Capital One Quicksilver Cash Rewards is clearly a wiser choice.

RELATED: Blue Cash Everyday American Express Credit Card Review.

Frequently Asked Questions (FAQs)

We answer some of the most common questions in our HSBC Gold Mastercard review:

What is the HSBC Gold Mastercard credit score requirement?

HSBC Gold Mastercard is best suited for individuals who have an excellent credit score—which means ideally, you need to have a credit score of 700 or more.

What are my HSBC Gold Mastercard approval odds? 

Individuals with excellent credit, i.e. a credit score of 750 or more, have the best chances of being approved for an HSBC Gold Mastercard. 

However, your credit score is not the sole factor that influences the approval. HSBC will also consider your credit history, current debt obligations, income (and its sources), and overall creditworthiness before arriving at a decision.

What is the HSBC Gold Mastercard credit limit for cardholders?

There is no set formula for computing the limit offered to you by HSBC on the HSBC Gold Mastercard. The approved limit is largely dependent on your credit score and debt-to-income ratio. As a rule of thumb, individuals with a higher credit score and a lower debt-to-income ratio will have a higher approved limit.

What is HSBC Gold Mastercard invitation number and how do I apply with it?

HSBC customers who have been pre-approved for the HSBC Gold Mastercard will receive an exclusive invitation via mail for applying for the HSBC Gold Mastercard. The letter will contain a unique invitation number that will enable customers to fast-track the application process by automatically filling out some details in the application form. Since you have been pre-approved, it also hastens the process of decision-making on HSBC’s part. 

To apply:

  • Go to
  • You will be prompted to input your invitation number here. Enter and click “Proceed with your application.”
  • On the next page, you will be asked to enter details like your SSN, annual income, etc.
  • Complete the rest of the application steps and submit your application.

What is HSBC Gold Mastercard phone number?

You may get in touch with customer service for the HSBC Gold Mastercard by dialing 1-888-385-8916.

Apply For A HSBC Gold Mastercard Credit Card

Head to the HSBC website to see if this credit card is the right fit for your needs


Thanks for reading our HSBC Gold Mastercard review.

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