"Good Balance Transfer Offer"
HSBC Platinum MasterCard® with Cash Back Rewards Review
Written by: dm on 2009-12-24
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
dm's review: 
I've been on the lookout for a decent balance transfer offer to get rid of a balance I have left on a high interest card from my rebuilding days. This was the card I applied for through the HSBC prequalification application and was pleasantly surprised to be offered the card with $0 annual fee, 1% cash back on all purchases, and 6 months 0% interest on purchases and balance transfers. I went ahead and accepted the offer and received a credit limit of $4500. Called to find out the interest rate (13.99%). When the card comes I'll see if they will combine with the limit from the Discover card I have from HSBC and don't use often and has a 0 balance. They pulled Experian so I don't know my true FICO, but my Equifax and Transunion scores currently stand at 762 for both. HSBC has treated me pretty well over the years. I started out with 2 Orchard accounts and have progressed to the Direct Merchants Discover with them and now into their prime products! Current credit utilization is less than 20%.
I've been on the lookout for a decent balance transfer offer to get rid of a balance I have left on a high interest card from my rebuilding days. This was the card I applied for through the HSBC prequalification application and was pleasantly surprised to be offered the card with $0 annual fee, 1% cash back on all purchases, and 6 months 0% interest on purchases and balance transfers. I went ahead and accepted the offer and received a credit limit of $4500. Called to find out the interest rate (13.99%). When the card comes I'll see if they will combine with the limit from the Discover card I have from HSBC and don't use often and has a 0 balance. They pulled Experian so I don't know my true FICO, but my Equifax and Transunion scores currently stand at 762 for both. HSBC has treated me pretty well over the years. I started out with 2 Orchard accounts and have progressed to the Direct Merchants Discover with them and now into their prime products! Current credit utilization is less than 20%.
6 Comments
Comment 1 by wanderer
Re: Good Balance Transfer Offer 
on 2009-12-25
Congratulations...! I too have had similar experiences with HSBC and find their products to be good. Earned lots of rewards off their products. No complaints here!
on 2009-12-25 Congratulations...! I too have had similar experiences with HSBC and find their products to be good. Earned lots of rewards off their products. No complaints here!
Comment 2 by kforbes86
Re: Good Balance Transfer Offer on 2010-01-02
I was also pre-qualified for this card, in the terms and conditions it says you can only have 2 open HSBC cards, so I thought fine, I only have 1 household bank card open. I applied and was denied because it said I have the maximum number of open accounts, when it said 2 and I only have 1 open.
on 2010-01-02 I was also pre-qualified for this card, in the terms and conditions it says you can only have 2 open HSBC cards, so I thought fine, I only have 1 household bank card open. I applied and was denied because it said I have the maximum number of open accounts, when it said 2 and I only have 1 open.
Comment 3 by wanderer
Re: Good Balance Transfer Offer on 2010-01-10
DM - can't explain the two or three card limit that I see discussed on this site. HSBC will only allow me two cards. Try this, thre pre-qualified "ok'd" me for a third card so I said hit it and got denied. At the time I had no idea there were limits on the number of cards. Today I am the wiser. Love my HSBC Platinum MasterCard with Cash Rewards I have 13.9% APR with $7,500 CL. My second card is an HSBC American Express Card with 9.9% APR and $10,000 CL. The rewards on this card are even better. No complaints here. Note, I started with Orchard Bank and $300 CL then onto the Household Bank Card with $1,800 CL and ultimately to the real HSBC. Also, HSBC acquired the subprime card base in mergers. Orginally, HSBC was NOT a subprime issuer. HSBC has an HSBC Premier World MasterCard with requirements of at least $100,000 in various forms cash/investments savings/checking and so on to create a total relationship with them and "NO PRESET" spending limit on the card (they have private banking with the Premier relationship) and they are totally global. HSBC is tough on getting into the upper tier of cards and benefits. Work with them over time and they are there for you. I know there are a lot of folks on this site that do not like HSBC. That is why we have choices. Good luck.
on 2010-01-10 DM - can't explain the two or three card limit that I see discussed on this site. HSBC will only allow me two cards. Try this, thre pre-qualified "ok'd" me for a third card so I said hit it and got denied. At the time I had no idea there were limits on the number of cards. Today I am the wiser. Love my HSBC Platinum MasterCard with Cash Rewards I have 13.9% APR with $7,500 CL. My second card is an HSBC American Express Card with 9.9% APR and $10,000 CL. The rewards on this card are even better. No complaints here. Note, I started with Orchard Bank and $300 CL then onto the Household Bank Card with $1,800 CL and ultimately to the real HSBC. Also, HSBC acquired the subprime card base in mergers. Orginally, HSBC was NOT a subprime issuer. HSBC has an HSBC Premier World MasterCard with requirements of at least $100,000 in various forms cash/investments savings/checking and so on to create a total relationship with them and "NO PRESET" spending limit on the card (they have private banking with the Premier relationship) and they are totally global. HSBC is tough on getting into the upper tier of cards and benefits. Work with them over time and they are there for you. I know there are a lot of folks on this site that do not like HSBC. That is why we have choices. Good luck.
Comment 4 by timothykng
Re: Good Balance Transfer Offer on 2010-01-10
The HSBC offer is good but there are also 2 other good offers. The Bankwest Balance Transfer Lite MasterCard & the Bankwest Balance Transfer Zero Platinum MasterCard.
on 2010-01-10 The HSBC offer is good but there are also 2 other good offers. The Bankwest Balance Transfer Lite MasterCard & the Bankwest Balance Transfer Zero Platinum MasterCard.
Comment 5 by thomas1
Re: Good Balance Transfer Offer on 2010-02-05
Are they small limit cards as well?
on 2010-02-05 Are they small limit cards as well?
Comment 6 by meya
Re: Good Balance Transfer Offer on 2010-02-08
Some are, I know that the 2% Cash Back Platinum card give out low limits, my husband got $300 I do believe around 6 months ago, and he has not been able to get a cli as of yet. I believe this is their subprime card.
on 2010-02-08 Some are, I know that the 2% Cash Back Platinum card give out low limits, my husband got $300 I do believe around 6 months ago, and he has not been able to get a cli as of yet. I believe this is their subprime card.
Please login or register for free to view your stats, add reviews and card application results, or post comments.
Credit card reviews and comments are posted by user submission and do not warrant the opinions of Finance Globe.
Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
