HSBC Balance Transfer Credit Cards – Compare & Apply Online

HSBC bank offers a range of credit cards to their customers. For new HSBC customers they also offer a special balance transfer deal where you pay a promotional rate during the introductory period of 6 months. This article discusses the terms and conditions of HSBC balance transfers.

With HSBC’s $0 annual fee for life and a low balance transfers for 6 months, you will love getting a zeroes! It gives you the much needed break from working hard paying on interests instead of paying your actual debt. It also allows you to access great benefits and privileges exclusive to HSBC Credit Card holders.

• 17.99% p.a. on purchases
• 0% p.a. for 6 months with 2% handling fee on balance transfers
• $0 annual fee
• 21.99% p.a. on cash advances

View the HSBC Credit Card terms and conditions here.

HSBC balance transfer is available to new credit card customers of HSBC only. If you are thinking of switching to HSBC for your credit card needs then you should compare the available options and take advantage of the promotional rate during the introductory period.

		Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual Fee	Cash Advance Rate (p.a.)
HSBC Platinum Qantas Credit Card	Receive a bonus 20,000 Qantas Frequent Flyer points plus a low balance transfer offer.	20.99%	0% for 6 months with 2% handling fee	$199	21.99%
HSBC Credit Card	A low rate credit card with no annual fee for the life of the card.	17.99%	0% for 6 months with 2% handling fee	$0	21.99%
HSBC Platinum Credit Card	A platinum card with a low balance transfer and a low annual fee offer.	19.99%	0% for 6 months with 2% handling fee	$129	21.99%

Types of HSBC cards

HSBC offers the following range of credit cards, varying on the credit limit and associated benefits available:

• HSBC credit card – The simplest card on offer from HSBC has an annual income requirement of $20000 per year. It also offers the highest interest free period of 55 days and has annual fee of $0. However it lacks any rewards program.
• HSBC classic credit card – Same income requirement, with up to 45 days interest free and $59 annual fee. This card and all subsequent cards offer a maximum of 45 days interest free and has rewards program attached.
• HSBC gold credit card – $50000 annual income requirement, and carries a fee of $89. Credit limit is increased from $1000 to $5000 minimum.
• HSBC platinum credit card – $75000 annual income requirement, annual fee of $129, and higher credit limit (minimum $8000).

Balance Transfer Rates

HSBC balance transfer rates vary depending on the type of the credit card. For the Visa credit cards the promotional rate is 5.99% p.a. It is important to note the following important conditions of a HSBC balance transfer:

• The promotional rate is available to new HSBC customers only – You have to apply for a balance transfer in the application form of a new credit card, or apply for a non-HSBC card balance to be transferred to your new HSBC card within 1 month of your new card being approved.
• The promotional rate is only applicable to the first transfer – You may apply for as many credit card transfers up to your approved credit limit on your card. However, the promotional rate will only be applicable to the first transfer only. All subsequent transfers will be charged at normal interest rates.
• Higher interest rate after the introductory period – At the end of the 6 month introductory period any balance remaining would be charged at the cash advance rate instead of the promotional rate. Currently HSBC cash advance rates are 19.99% for the Visa cards (except the HSBC classic and gold cards which have a cash advance rate of 21.99%), and 2.99% for the American Express Gold card.

How to Apply

You can apply for a new HSBC card and HSBC balance transfer at the same time. You may apply online (Visa/Amex), or print and fill out the appropriate form (Visa/Amex), then drop it off at any branch. For fast processing you can also do an application right from this link.

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  Are you getting confused with all the credit card offers on the market? It’s hard not to get distracted with all the promises of great deals, and focus instead on what really will be useful for you. Credit cards come laden with many features these days to make them attractive to customers, but most people don’t realise those features come at a cost to their pocket.