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If you’re looking to get out of credit card debt, a balance transfer is a great way to do that.
You can transfer a balance from a card with a high APR to one with an intro 0% APR and save on interest. HSBC has a few cards with balance transfer options that can help you get rid of credit card debt when used responsibly. This guide shows you how to complete a balance transfer with HSBC, and provides some best practices for completing your transfer and descriptions of the HSBC balance transfer cards available.
Complete your transfer online
- If you are on the “My accounts” page, click on your credit card account number on the left side of the page. The credit card transactions will appear in the right window. (Note: You can return to the “My accounts” page by placing the cursor on the “My HSBC” tab at the top of the page and then selecting “My accounts”)
- Underneath the credit card account number in the transactions window on the right side, you will see an option titled “View Details” right above the button for “Details.” Click on “View Details.”
- A window will then appear asking you if you would like to “Accept and Proceed” to the credit card website. (Note: If the credit card website does not appear after clicking “Accept and Proceed,” your internet browser’s pop-up blocker may be preventing the credit card page from opening.)
- You will then see “Services-Balance Transfers.” From there, verify the balance transfer offer and select it. Fill out the information required to complete your transfer, review the terms and conditions, and submit your transfer.
Complete your transfer by phone
If you don’t want to complete the transfer online, you can speak to a representative by calling the number on the back of your card. Make sure you have the following information ready:
- Name on the account with the debt
- Amount to be transferred
Balance transfer cards from HSBC
The HSBC Gold Mastercard® credit card is the primary HSBC balance transfer card offering an intro 0% for 18 months (after, 13.24%, 17.24% or 21.24% Variable APR). This card comes with an above average balance transfer fee either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check. That’s something to consider before settling on this card since there are other options with low or no balance transfer fees. There are no rewards, but that means you can use this card primarily to pay off your debt. *This offer/promotion may have since changed, expired, or no longer be available.
The HSBC Cash Rewards Mastercard® credit card offers an average intro 0% for 12 months on balance transfers. After the intro period, 15.24%, 19.24% or 25.24% variable APR applies. The balance transfer fee is slightly higher than other cards, either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check. That’s something to consider, especially since the rewards program is just-OK with Unlimited 1.5% cash rewards on all purchases You can do better with other balance transfer cards that also have longer intro periods.
The HSBC Platinum Mastercard® credit card has the weakest balance transfer offer of the HSBC cards mentioned with an intro 0% for 18 months (after, 13.99%, 17.99% or 23.99% Variable APR APR). The short intro period isn’t ideal if you have a large balance or need a lot of time to pay off debt. Plus, the balance transfer fee is higher than usual — 4% With this card you can earn a subpar 1X Rewards Program Point for every dollar in new, net card purchases. *This offer/promotion may have since changed, expired, or no longer be available.