HSBC Advance Mastercard Review

HSBC Advance Mastercard 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 is everything you need to know to make a good choice.

Key takeaways:

• Generous reward rate. You will get a a rewards rate of 3 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.
• 3% Balance transfer fee. HSBC Advance Mastercard charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees. The minimum fee is $10.
• $0 foreign transaction fee. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, access to a concierge, emergency support, travel accident insurance, travel assistance, and fraud protection.
• Good or better credit required. You should probably try with another card if your credit score is below 670.

HSBC Advance Mastercard Pros and Cons:

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. Travel accident and travel assistance insurance. No foreign transaction fee. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. HSBC Advance Mastercard reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.

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 Requires good to excellent credit. Charges an annual fee of $45 Does not offer a signup bonus. Charges a 3% balance transfer fee.

Is there a HSBC Advance Mastercard cash back or rewards program?

HSBC Advance Mastercard is a cashback card. This means you earn a percentage of your purchase as a cash reward. With HSBC Advance Mastercard you receive 1% cash back on every 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

Rewards rate (all purchases)	1%
Max rewards rate	3%
Annual rewards limit	N/A
Signup Bonus ($)	N/A

What are the HSBC Advance Mastercard benefits?

HSBC Advance Mastercard provides the following benefits:

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

What are the relevant APRs for HSBC Advance Mastercard?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. HSBC Advance Mastercard has lower than average purchase APRs.

HSBC Advance Mastercard 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 to HSBC Advance Mastercard:

• 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?

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

• Equifax
• Experian

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

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 you're denied click here to find out why your application may have been rejected and what you can do about it.

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.