HSBC Balance Transfer credit card review

2 min Read Published: 09 Nov 2020

HSBC Balance Transfer card review Although a few of the cards in the HSBC range offer a balance transfer feature, this one excels with its 25-month interest-free introductory offer. It is one of the best deals on the market, albeit with a balance transfer fee to pay.

Key facts about the HSBC Balance Transfer credit card

  • Best for: Those looking for an extended period to sort out their finances
  • Introductory offer: Interest free for 25 months on balance transfers and 3 months on purchases
  • Representative APR: 21.9% variable
  • Fees: 1.5% balance transfer fee
  • Perks: Cashback and offers through the HSBC home&Away rewards scheme

Pros of the HSBC Balance Transfer credit card

  • This card has one of the longest interest-free balance transfer periods available on the market
  • Although there is a balance transfer fee, it isn't as high as for some other cards within this category
  • There is the added bonus of cashback and rewards

 

Cons of the HSBC Balance Transfer credit card

  • Balances can't be transferred from other HSBC cards or from those from first direct, M&S Bank or John Lewis Finance
  • Although it is relatively low, the 1.5% balance transfer fee may be an issue for some people
  • It is not available to those who have an HSBC Basic Bank account

How to manage your payments on the HSBC Balance Transfer credit card

Cardholders can manage their accounts online, on a mobile app or by visiting an HSBC branch

How to apply for the HSBC Balance Transfer credit card

Use the HSBC online eligibility checker to see if you are likely to be accepted for the card. If successful, you can apply online or in an HSBC branch

Alternatives to the HSBC Balance Transfer credit card

For other options, read our article "Best credit card in the UK"

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