HSBC Platinum Rewards Credit Card Review

HSBC Platinum Rewards Credit Card is a cashback credit card issued by HSBC Bank USA.  If you're wondering whether HSBC Platinum Rewards Credit Card is the right card for you, read on. This is everything you need to know to make a good choice.

Key Takeaways

• No annual fee. This is a great options for people looking for a low-maintenance rewards card. It gives rewards on your purchases but you don't have to pay an annual fee for the privilege.
• Up to 3% on every day purchases. This is higher than the averge reward rate (1%) for "every-day" purchases.
• 0% balance transfer intro rate. Offers an introductory APR rate on balance transfers of 0% for up to 12 months, which is the average period for 0% APR balance transfer cards.
• Competitive APRs. HSBC Platinum Rewards Credit Card has a variable purchase APR of up to 24.74%.
• Great for travel. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
• Good or better credit required. You should probably try with another card if your credit score is below 680.
• Multiple credit card benefits. Includes generous credit card perks, such as emergency support, travel assistance, and fraud protection.

The Good

The Bad

0% introductory rate for purchases and balance transfers No annual fee No foreign transaction fees Lower than average purchase APRs. No annual fee. Has an introductory APR rate on balance transfers of 0%. Multiple credit card perks. No foreign transaction fee. Earn rewards on every purchase. HSBC Platinum Rewards Credit Card reports to multiple credit bureaus. Cardholders can earn rewards on their purchases. Includes emergency support. Free access to your credit score. Travel Assistance.

Low rewards after the first year. Does not offer a signup bonus.

Is there a HSBC Platinum Rewards Credit Card cash back or rewards program?

HSBC Platinum Rewards Credit Card is a cashback card. This means you earn a percentage of your purchase as a cash reward. With HSBC Platinum Rewards Credit Card you receive 1.5% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $15 back in cash.

HSBC Platinum Rewards Credit Card Rewards

Rewards rate (all purchases)	1.5%
Max rewards rate	N/A
Annual rewards limit	N/A
Signup Bonus ($)	N/A

What are the HSBC Platinum Rewards Credit Card benefits?

HSBC Platinum Rewards Credit Card provides the following benefits:

• Free Credit Score
• Emergency Support
• Zero fraud liability
• Cellular Telephone Protection
• Travel Assistance
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for HSBC Platinum Rewards Credit Card?

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 Platinum Rewards Credit Card has lower than average purchase APRs.

HSBC Platinum Rewards Credit Card has a variable purchase APR that ranges from 14.74% up to 24.74%. The card has a variable balance transfer APR that ranges from 14.74% up to 24.74%. It also has a variable cash advance APR of 26.74% . Note that late payments are subject to an APR of 31.74% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

HSBC Platinum Rewards Credit Card Balance Transfers

Description
Balance Transfer APR	14.74% - 24.74%
Introductory Rate	0%
Intro APR period (months)	12

HSBC Platinum Rewards Credit Card Rates & Terms

Description
Balance Computation	average daily balance
Purchase APR	14.74% - 24.74%
Credit Limit	N/A
Penalty APR	31.74%
Cash Advance APR	26.74%
Security Deposit	N/A
Introductory Rate	0%
Intro APR period (months)	12

What are the HSBC Platinum Rewards Credit Card fees?

The following fees apply to HSBC Platinum Rewards Credit Card:

HSBC Platinum Rewards Credit Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	0%
Balance Transfer Fee	4%
Minimum Balance Transfer Fee	$10
Returned Payment Fee	up to $25
Late Payment Fee	up to $37

Does HSBC Platinum Rewards Credit Card report your account activity to credit bureaus?

HSBC Platinum Rewards Credit Card 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 can help improve your credit score.

How to apply for HSBC Platinum Rewards Credit Card

• Visit the HSBC Platinum Rewards Credit Card 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.