• 0% p.a. balance transfer for the first 6 months from non HSBC credit or store cards
• $0 Annual Fee for the life of the Credit Card
• Winner of Money Magazine’s 2010 'Best Transactor Credit Card'
• Low interest rate of just 17.99% p.a on purchases
• Up to 55 days interest-free on purchases when you pay the full balance by the due date each month.
• Access to offers, discounts and benefits worldwide with HSBC's home&Away Privilege Program
• Read the terms and conditions

• Good no frills card which means you’ll never pay an annual fee.
• The %(Balance Transfer Rate)s for %(Balance Transfer Rate Period)s could really help you pay down debt.
• The interest rate on purchases isn’t that low compared to the lowest on the market.
• HSBC charge a fee for doing the balance transfer.

How does the HSBC Credit Card compare for rates and fees against an average credit card? Based on the data from our website this credit card comparison scorecard shows:

		Purchase Rate	Cash Adv Rate	Annual Fee	Bal. Transfer Rate	Bal. Transfer Rate Period
	HSBC Credit Card	17.99%	21.99%	$0	0%	6 months
	The Average Credit Card	17.15%	21.03%	$96	2.86%	7 months

The HSBC credit card is an excellent deal for customers with existing debt, who are looking to reduce their monthly payments and take advantage of a great low interest rate balance transfer offer. HSBC’s credit card also charges no annual fee, ever, which is a significant money saver. It offers a good deal on purchases for a while too, and there are security and discount benefits to be had as well. HSBC is a well-known global brand as well, which gives customers good peace of mind when it comes to accessing funds during international travel.

Pros

The major advantages of the HSBC credit card is the cheap 0% p.a. for 6 months balance transfer offer and the $0 p.a. annual fee. There is no interest at all on balances transferred for 6 months, giving customers plenty of time to make a good dent in their debt or even pay it off completely. This card, then, is ideal for savvy customers with existing debt, who are looking to consolidate what they owe and reduce their monthly outgoings rather than spending a fortune on meeting interest repayments. If you want to get out of debt fast, then it’s very difficult to beat!

The 17.99% p.a. interest rate on purchases is not the cheapest out there, but is quite affordable, making the card suitable for some every day shopping too. The card comes with a 55 day interest free period on purchases as well, so if you clear your balance at the end of the month you won’t have to pay any interest. This gives the customer some flexibility with using the card, rather than having two separate cards for balance transfers and purchases.

Cardholders get access to the home&Away Privilege program where you can find discounts on hotels, car rentals, shopping , dining out, and more. There is no charge for access to the program.

Cons

The HSBC credit card may have a great balance transfer offer, but it does come at a cost. There is a 2% balance transfer fee, which is quite uncommon. This is a complicating factor that means you need to work out how much the handling fee will reduce your savings by.

Conclusion

The HSBC credit card is a fantastic card for customers who are looking to save money by reducing the amount of interest they are charged on existing debt, and give themselves plenty of time to pay it off or make a good start at doing so. The well-known brand helps to provide customers with peace of mind. Why not check it out today?