This card is no longer available on CardRatings but you can browse reviews for other credit cards here.

Our credit card articles, reviews and ratings maintain strict editorial integrity; however we may be compensated when you click on or are approved for offers from our partners. How we make money.

This card is no longer available.
About Our Ratings
Credit Needed

HSBC Platinum Mastercard® credit card Review

Pros & Cons

  • The HSBC Platinum Mastercard® offers an introductory rate of 0 percent for 18 months on all purchases and balance transfers.
  • With no annual fee, there's no reason this can't be a card you keep in your wallet for a long time – a nice addition to your credit history.
  • Protection. The HSBC Platinum Mastercard® offers a number of solid travel, fraud and purchase protections that you hope you'll never need, but will glad to have them if you do.
  • The HSBC Platinum Mastercard® does not offer a rewards program to go along with its excellent intro APR offer. If you're looking for rewards, consider the HSBC Platinum Mastercard® with Rewards credit card.

Full Review

Brooklyn Lowery Site Editor

HSBC Platinum Mastercard® Essentials

The HSBC Platinum Mastercard® credit card is a card that puts the focus on keeping things free and simple.

If "free" is one of your favorite words, this card comes through with no annual fee and a 0 percent introductory offer on all purchases and balance transfers for the first 18 months. After that, a variable APR based on your credit worthiness applies.

There are no foreign transactions fees when you use your card while traveling abroad, and the HSBC Platinum Mastercard® credit card offers up to $1 million in travel accident coverage and up to $50,000 rental car collision insurance for free, so feel free to pack this card for your next international trip.

You can shop with confidence using HSBC Platinum Mastercard® credit card, as it offers both Purchase Assurance and Price Protection. For 90 days after you make a purchase, you are covered for up to $1,000 for accidental damage or theft. Better still, you will always get the best price on every purchase you make! If you happen to find the same item advertised for a lower price within 60 days of your purchase, your HSBC Platinum Mastercard® credit card's price protection program means you're eligible for a refund of the difference.

Additional key points about HSBC Platinum Mastercard® credit card:

  • Make purchases using mobile payment apps Android Pay™, Apple Pay™ and Samsung Pay™.
  • Swift and comprehensive fraud protection, including credit bureau notification and card replacement.
  • Default chip-and-pin security.
  • Free MasterAssist Travel Assistance Services, including pre-trip destination info, emergency medical and legal referrals (when traveling more than 50 miles from home) and lost luggage assistance.

What Our Editors Like Most about the HSBC Platinum Mastercard®

Simplicity is a beautiful thing. The HSBC Platinum Mastercard® credit card is a solid credit card that provides the convenience and reliability you need without the bells and whistles you might not require. 

The 0 percent introductory rate for 18 months on all purchases and balance transfers can be a major cash savings if you're not someone with money to burn, but who needs to make a big purchase and would appreciate an extra few months to pay it off. In addition, this makes the HSBC Platinum Mastercard® credit card an excellent card if you are working to emerge from a challenging economic period in your life.

If you are taking advantage of the 18 months of no interest and making some new purchases, the HSBC Platinum Mastercard® credit card allows you to shop with complete confidence. The chip-and-pin default security, combined with comprehensive ID Theft Resolution Services, means you won't be left vulnerable to the consequences of fraud. In addition, the free Purchase Assurance program covers you for up to $1,000 for a full 90 days from the date of purchase if your item is stolen or accidentally damaged.

Potential Downsides of the HSBC Platinum Mastercard®

If you are a fan of cash back or other rewards programs, the HSBC Platinum Mastercard® credit card isn't the card for you, as it offers no rewards program; however, you could pair it with the HSBC Platinum Mastercard® credit card, which does offer a rewards program (Check out our full review of the HSBC Platinum Mastercard® with Rewards credit card).

As with other credit cards, you want to make sure you pay your bill on time, particularly if your plan is to take advantage of that introductory zero interest period. If you miss a payment, there are late fee penalties and you could forfeit your zero interest offer. This isn't an uncommon or unusual situation, but something you should keep in mind.

An additional fee to think about is the balance transfer fee of $10 or 4 percent (whichever is greater). 

How the HSBC Platinum Mastercard® Compares to Other Cards

HSBC Platinum Mastercard vs. Wells Fargo Platinum Visa Card

Both cards offer an introductory rate of 0 percent on balance transfers and purchases, though it's just 15 months with the Wells Fargo card. Additionally, the interest rate after the introductory period jumps to 16.40%-26.24% (Variable) for the Wells Fargo Platinum Visa® Card, while it increases to 13.99%, 17.99% or 23.99% variable for the HSBC Platinum Mastercard®.

Neither card charges an annual fee, but the Wells Fargo Platinum Visa® Card charges 3 percent on each transaction made while abroad.

The Wells Fargo Platinum Visa® Card monitors your spending and purchases and lets you know about any suspicious activity with text and email notifications. The HSBC Platinum Mastercard® also monitors activity and provides notification but also provides additional assistance, such as credit bureau notification, if fraud is confirmed.

The HSBC Platinum Mastercard® offers Purchase Assurance and Price Assurance programs that Wells Fargo Platinum Visa® Card does not.

HSBC Platinum Mastercard vs. Discover it® - 18 month balance transfer offer card

Both cards offer a 0 percent introductory rate on balance transfers for 18 months; however, the HSBC Platinum Mastercard extends that same rate for 18 months to purchases, as well. The Discover it® - 18 Month Balance Transfer Offer only offers the 0 percent rate on purchases for six months.

The Discover it® - 18 Month Balance Transfer Offer does offer a cash-back rewards program, though, that allows cardholders who sign up to earn 5 percent back on up to $1,500 spent in categories that rotate quarterly. After meeting that quarterly cap, and on all other purchases, you'll earn 1 percent back. As mentioned earlier, the HSBC Platinum Mastercard® does not have a rewards program.

Neither card charges an annual fee or foreign transaction fees. The balance transfer fee is slightly lower with the Discover it® - 18 Month Balance Transfer Offer at 3 percent.

HSBC Platinum Mastercard vs. Chase Freedom UnlimitedSM

These are both annual-fee-free cards, but Chase Freedom Unlimited® offers a flat 1.5 percent cash back rewards opportunity on all purchases. But Chase Freedom Unlimited®'s introductory 0 percent interest period is shorter. HSBC Platinum Mastercard® offers 0 percent APR on balance transfers and purchases for the first 18 months.; whereas, Chase Freedom Unlimited® makes the same offer but for just 15 months.

The balance transfer fees for the cards differ, too. The HSBC Platinum Mastercard® charges a fee of $10 or 4 percent, whichever is greater. Chase Freedom Unlimited® charges a fee of $15 or 5%, whichever is greater.

Chase Freedom Unlimited® also charges a 3 percent fee for foreign transactions, so if you want to use a card while abroad the HSBC Platinum Mastercard® is likely a better option.

Who Should Get the HSBC Platinum Mastercard®?

The HSBC Platinum Mastercard® credit card is an excellent choice for people who like security in their credit card purchases and like to keep things simple. Not only are your purchases and your identity protected but the Price Assurance service guarantees you are always getting the best deal. Furthermore, if a lengthy zero-interest period piques your interest, this card is a solid choice.

Transferring an outstanding balance with a high interest rate to HSBC Platinum Mastercard® credit card and enjoying 0 percent interest for 18 months can ease the financial burden greatly.

This page was last updated on January 10, 2018

HSBC Platinum Mastercard® credit card details

Balance Transfer Intro APR:
0% on balance transfers
Balance Transfer Intro Period:
18 months from Account opening
Balance Transfer Fee:
Either $10 or 4%, whichever is greater
Annual Fee:

What HSBC Bank says about this card

  • 0% Introductory APR on credit card purchases and balance transfers for the first 18 months from Account opening. After that, a variable APR of 13.99%, 17.99% or 23.99%, will apply.
  • No annual fee.
  • No foreign transaction fees.
  • Make purchases the way you want -- mobile payment enabled supporting Android Pay(TM), Apple Pay(TM) and Samsung Pay(TM).
  • Shop with confidence knowing that your purchases are covered with our valuable protection programs.
  • Fraud coverage if your card is ever lost or stolen.
  • Use online banking to access your account, even from your smartphone, with our mobile app.
  • Terms Apply.

Credit Card Consumer Reviews:

  1. No reviews available for this card.

Write Consumer Reviews:

E-Mail will not be published

Select Your Credit Score:
(Ok to Guess)
None/Limited I don't Know