Although a few of the cards in the HSBC range offer a balance transfer feature, this one excels with its 29-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
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Best for: Those looking for an extended period to sort out their finances
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Introductory offer: Interest-free for up to 29 months on balance transfers and 3 months on purchases
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Representative APR: 24.90% variable
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Fees: 3.49% balance transfer fee (min £5)
- 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.
- The 3.49% 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 find out which credit card is best for you
We have teamed up with Creditec* to help you compare credit card deals and check your eligibility in minutes. You will be able to find out which credit cards you are most likely to be accepted for through a soft credit check, which will not affect your credit score. You can then tailor your personalised list to sort cards by the features that matter most to you. This could mean filtering for the type of credit card you want, sorting the list by the rate of interest or highlighting the cards you are most likely to be successful in applying for. You can click here to compare deals*.
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
- Capital One Balance Transfer credit card
- Tesco Balance Transfer credit card
- Lloyds Platinum 0% Purchase and Balance Transfer credit card
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