FEATURES SUMMARY

• Annual fee: $89 (waived in first year)
• Purchase rate: 19.50% p.a.
• Cash Advance rate: 21.99% p.a.
• Balance Transfer rate: 5.99% p.a. first 6 months (21.99% p.a.)
• Interest-free days: 55 days
• Extras:
  • Apply online

• • Rewards
  • Phone/Internet banking
  • Extended Warranty
  • Purchase Protection
  • HSBC Home&away privileges
  • Guaranteed Pricing scheme
  • International Travel insurance

Some may say that the HSBC Gold credit card is just like a lot of other mid-range gold credit cards, it’s not the best and it’s not the worst. However, it does have some pretty enticing features, but let’s start with the basics.

The most advertised feature of this card is the $89 annual fee which is waived in the first year. Interest is charges at 19.50% p.a.* for purchases and a high 21.99% p.a.* for cash advances. While the purchase rate is pretty standard for a gold credit card, the cash advance rate has potential to create a few ongoing bills.

Balance transfers from other banks’ credit cards are available, with 5.99% p.a. interest charged for the first six months*. After this time is up the interest rate increases to the cash advance rate so it would be wise to use this only if you have a balance that can be paid off within the six month introductory period.

The amount of interest free days offered on this gold credit card is 55 days which is pretty well much on par with the rest of the contenders.

As an added bonus you can also make up to five purchases a year (of $500 or more) on which you can decide how the interest is accrued. You can choose to either increase the interest free days to 90 on those purchases, or be charged a lower interest rate (10.99% p.a.) for 120 days*.

And now for the added credit card benefits…

For your $89 a year you’ll also get up 12 months extended warranty on purchases* brought with your gold credit card, a guaranteed pricing scheme* so you don’t get ripped off and purchase protection* in case of loss damage, or theft. International travel insurance is another heavyweight benefit which is included on this card* and pretty much covers you for everything. Just be sure to read the terms and conditions if you do go on an overseas trip booked with your HSBC Gold credit card.

Every dollar you spend on your card will earn you rewards points with HSBC’s rewards program*, which offers entertainment merchandise, travel, and shopping and financial rewards. Unfortunately this does not include cash back rewards. As usual terms and conditions apply, which unfortunately only be accessed when you apply, so you don’t really know what you’re getting yourself into until you’ve taken the first step.

If you can avoid cash advances and pay any balance transfers off within the six month introductory period then this card is quite a good option, especially as a Gold credit card however the same credit card benefits with cheaper rates are available on other cards, such as the Bankwest Lite Gold MasterCard. However, overall this credit card does receive the #2 spot in the Editor’s Choice – Gold Credit Card category.

See all our top credit card picks in the Editor’s Choice category