HSBC Gold Mastercard 2021 exam: 18 months 0% Intro APR

Main advantages

18-month introductory 0% APR offer on purchases: If you’re looking to make a big purchase and pay it off with what is essentially an interest-free loan, this card might be right for you. You will have 18 full months to pay off the balance without having to pay interest.

18-month 0% introductory APR offer on balance transfers: You will have the same 18 months to repay everything balance transfers. It is a very good offer compared to its competitors. In fact, there are only a few cards that have 0% longer introductory APR periods on balance transfers. If you want to take advantage of this offer, you will need to do so within 60 days of opening this card.

Exemption from late fees: If you pay your bill late, you can get late fee waiver once per calendar year. Be careful with this one though; paying your late bill can further lower your credit score. And if you pay your bill more than 60 days late, your 0% APR introductory period will end sooner and you will start being billed at your normal interest rate.

No foreign transaction fees: This is another area where this card outperforms most of its competition. There are no overseas transaction fees, so if you travel overseas frequently and are still working to pay off your debt, this card will be especially valuable to you.

No APR penalty: Some credit card companies will charge you a higher APR if you pay your bill late. HSBC will not. But keep in mind that there are plenty of other credit card issuers that don’t charge penalty APRs either. So while this is a practical benefit, it is not necessarily uncommon.

No annual fee: Again, it’s not uncommon to find introductory 0% APR credit cards with no annual fee. But since this card is designed to help you pay off your debt, this is an important factor to stress.

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