HSBC Advance Mastercard Review

This is a cashback credit card issued by HSBC Bank USA. If you're wondering whether HSBC Advance Mastercard is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

• Generous reward rate. You will get a rewards rate of up to 3 reward points per dollar spent.
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 12 months, which is the average period for 0% APR balance transfer cards.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 12 months.
• Competitive APRs. HSBC Advance Mastercard has a variable purchase APR that ranges from 14.99% up to 18.99%.
• Annual fee waived the first year. HSBC Advance Mastercard gives you the chance to have the card for a year without paying the $45 annual fee.
• 4% Balance transfer fee. HSBC Advance Mastercard charges a fee of 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, access to a concierge, emergency support, identity theft protection, travel accident insurance, travel assistance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 600.

The Good

The Bad

No foreign transaction fees. Unlimited Rewards Program Points with no expiration Introductory 3X Points on dining and select entertainment purchases plus 2X Points on all other purchases in the first 12 months from Account opening Lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 12 months. 0% APR on new purchases during the first 12 months. Annual fee waived during the first year. Multiple credit card perks. Offers auto rental collision damage waiver. Access to a concierge. Free access to your credit score. Identity Theft Protection. Travel accident and travel assistance insurance. Considers applicants with fair or poor credit. No foreign transaction fee. Cardholders can earn rewards on their purchases. HSBC Advance Mastercard reports to multiple credit bureaus.

There is a $45 annual fee applied to any account not connected to a qualifying HSBC Advance or Premier checking account on the second year Charges an annual fee of $45 Does not offer a signup bonus. Charges a 4% balance transfer fee.

Does HSBC Advance Mastercard have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $10 back in cash. However, you can earn up to 3% for purchases in a bonus category.

HSBC Advance Mastercard Rewards

Minimum rewards rate	1x
Max rewards rate	3x
Annual rewards limit	N/A

What are the HSBC Advance Mastercard benefits?

It provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Emergency Support
• Zero fraud liability
• Travel Accident Insurance
• Cell Phone Protection
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for HSBC Advance Mastercard?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. It has lower than average regular APRs.

It has a variable purchase APR that ranges from 14.99% up to 18.99%. The card has a variable balance transfer APR that ranges from 14.99% up to 18.99%. It also has a variable cash advance APR of 24.99% . Note that late payments are subject to an APR of 29.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for HSBC Advance Mastercard?

The following fees apply:

• There is no overlimit fee

HSBC Advance Mastercard Fees

Fees	Amount
Annual Fee	$45
Overlimit Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	up to $25
Late Payment Fee	up to $37

Does HSBC Advance Mastercard report your account activity to credit bureaus?

Yes, HSBC Advance Mastercard reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for HSBC Advance Mastercard

• Visit the HSBC Advance Mastercard website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.