I’ve had a high yield, online savings account at HSBC for a number of years now, and I’ve had my share of 0% APR balance transfer offers from credit card companies but this is my first from HSBC.
It turns out that it isn’t really just for me, no matter how special I may think I am. HSBC is offering 5 different types of cards with 0% balance transfer rates. Each card carries the introductory rate for a full 12 months, has no annual fee and covers balance transfers and new purchases.
If you’re in the market for a 0% rate to transfer your debt to while you pay off the balance, then you may want to check out the offer site.
5 different types of cards.
Cash back
This card is geared toward the spender who pays off his balance and wants a little something extra from his card. The reward rate isn’t as good as some others out there, but there’s also no expiration or cap and it’s pretty straightforward.
- 1% cash back on all purchases
- no earnings caps or point expiration
- no complicated spending requirements or tiers
- 0% introduction APR on card purchases and balance transfers for 12 months
- No annual fees
Cash or fly rewards
If you do a fair amount of traveling (I don’t) and want something extra for your hassles, HSBC offers there Cash or fly rewards card. This card is basically either/or – a cash back card or free airfare card. It may be useful if you sometimes travel a lot, but not all the time.
- 1 point for every dollar spent – 25,000 points = 1 domestic roundtrip airfare with a maximum value of $400.
- Minimum points to start redeeming is 7,500.
- Book your own ticket or use HSBC travel agency
- no earnings cap or points expiration
- no blackout dates
- 1% cash back option
- 0% introduction APR on card purchases and balance transfers for 12 months
- No annual fees
HSBC PLUS rewards
This card is more in the mode of a traditional rewards card in that every purchase gets you points and those points are traded in for gifts, flights or hotel costs.
- 1 point for every dollar spent
- redeem points for flights or hotel stays or gift cards
- no earnings cap or points expiration
- 0% introduction APR on card purchases and balance transfers for 12 months
- No annual fees
Platinum simplicity
This is the no frills, no clutter card. Oh, it’s also the no rewards card. Just a 0% intro APR for 12 months. Period.
- 0% introduction APR on card purchases and balance transfers for 12 months
- No annual fees
Secured
The secured card is great for building or rebuilding your credit history. It does have an annual fee, and some other restrictions, but let’s face it – if you need this card it’s because you’re a credit risk to some degree.
- $35 annual fee
- Credit line set by consumer with minimum $300 and maximum $5,000 deposit.
- Online access to account 24/7
- worldwide mastercard acceptance at 25 million locations
One Last Word.
The rate for each card after the introductory 12 month 0% is a variable APR between 12.99% and 19.99%, depending on your credit history. The 0% introductory APR does not apply to cash advances, but those are evil and you wouldn’t use them anyway, would you? No? Good.
Also, don’t default. That goes without saying, right? But just in case it doesn’t, remember that your rate will jump to somewhere between 27.24% and 31.99% if you default.
0% transfer card offers can be a real life line to someone serious about paying off his balance. I used one to stop the interest clock while I paid off my credit card debt and it saved me hundreds (if not thousands).
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