If you’re looking for the latest credit card balance transfer offers from HSBC, you’ve come to the right place. They’re listed below for your convenience.
HSBC Credit Card Balance Transfer Offers:
HSBC Platinum MasterCard® credit card – 0% introductory APR on credit card purchases and balance transfers for the first 18 months from account opening with a balance transfer fee of 4% (minimum $10) and no annual fee.
HSBC Platinum MasterCard® with Rewards credit card – 0% introductory APR on credit card purchases and balance transfers for the first 12 months from account opening with a balance transfer fee of 4% (minimum $10) and no annual fee.
HSBC, like most other credit card issuers, offers promotional APR as low as 0% (it doesn’t get any lower, I think!) on both balance transfers and new purchases.
Although they may not be as aggressive as other card issuers, such as American Express, Bank of America, Capital One, Chase, Citi or Discover, they still offer 0% balance transfers and other great deals from time to time.
And if you’re looking to move credit card debt from one of these credit card issuers, HSBC may be a good alternative, as you can’t transfer debt from within the same bank. So if you’ve run out of balance transfer options, HSBC may be worth a look.
You May Want to Try Issuers Other than HSBC First
HSBC tends to be pretty conservative when doling out credit lines. When I was younger I think they gave me a credit line of like $500, literally. I called them up immediately after and told them not to bother sending out of the card.
Clearly that’s too low to make most balance transfers worthwhile. So if you have a lot of debt you need transferred tread cautiously to avoid an unnecessary credit pull. They might do the same to you…
In recent years, many credit card issuers have scaled back their balance transfer offerings substantially in light of the ongoing credit crunch, so offers from the mid-level players are rather sparse. HSBC is a very large global bank with some U.S. offerings, but there are more aggressive credit card issuers here in the United States.
For whatever reason, HSBC is willing to offer an amazing promotion of 0% APR for 32 months with just a 1.4% balance transfer fee in the UK, but only 18 months here in the States. I guess they’re more comfortable in that market.
I’d personally check the big U.S.-based issuers like Bank of America, Chase, Citi, and Discover first. You’ll probably get a better deal (lower balance transfer fee, longer 0% APR), and a higher credit limit. That last piece is super important if you actually want to transfer ALL of your debt.
Of course, it’s only a matter of time before HSBC re-introduces better balance transfer offers, so be sure to visit this page often as they may wind up having the best deal for you.
The upside is that HSBC seems to be pretty quick in processing balance transfers, with such requests taking just four business days in some cases. Of course, results will vary, so continue making necessary payments on old accounts until you know the balance transfer has cleared.
In summary, I see HSBC as yet another balance transfer option if you’ve already exhausted traditional avenues. They may work out great for some, and not so great for others depending on how generous they want to be with you.