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The HSBC Platinum MasterCard with Cash Back Rewards was last reviewed on 6th September 2006
Summary - The HSBC Platinum MasterCard with Cash Back Rewards is a basic cash back credit card that allows you to earn a 1% cash rebate for every dollar you spend on the card. Unlike all other cash back credit cards, you can earn unlimited cash rebates. You also get a generous 0% apr on balance transfers for between 6 to 12 months. This card will appeal to those who spend a lot and want a basic cash back credit card.
Cash Back Formula - The HSBC Platinum MasterCard with Cash Back Rewards gives you a 1% rebate for every dollar you spend on the card. You can earn unlimited rebates.
Annual Fee - The HSBC Platinum MasterCard with Cash Back Rewards has no annual fee. The apr is as low as 11.49% depending on your credit worthiness. You also get a 0% introductory apr offer on your balance transfers for 12 months from the date of account opening. The introductory period will depend on your credit. You can transfer up to 3 balances. The average daily balance method (including new purchase) is used to calculate monthly balances.
Conclusion - The HSBC Platinum MasterCard® with Cash Back Rewards will appeal to those looking for a basic no-frills cash rebate credit card. Though there may be other cash back credit cards that pay a slightly higher payout for items like gasoline purchases, supermarket market purchases, they all limit you on the amount of cash rebates you can earn in one year. This is not the case with this HSBC Mastercard. In fact, this is perhaps one of the few cash back credit card which lets you earn unlimited rebates.
PositivesEarn unlimited rebates No annual fee 0% apr for 6 to 12 months on balance transfers Low apr if you qualify
Negatives
Does not pay more than 1% on "everyday purchase" items
| HSBC Platinum MasterCard with Cash Back Rewards | | Rebate Formula | | Reward Points | Earn 1% rebate for every dollar you spend | | Caps on Rebates | Earn unlimited points or cash rebates | | Benefits | 24 hour support, toll-free customer service and online account access
Free online bill pay
Zero liability on any unauthorized purchases
MasterCard card global service provides worldwide, 24-hour assistance with lost and stolen cards, emergency card replacement and emergency cash advances | | Cost/Fees/Interest rates | | Introductory rate | 0% apr for 12 months | | Annual Fees | No annual fee | | Purchase APR | As low as 11.49% depending on credit worthiness | | Balance Transfer APR | As low as 11.49% depending on credit worthiness | | Cash Advance APR | Prime Rate plus 15.99% | | Min Finance Charge | $0.50 | | Grace Period | 20 days | | Balance Calculation Method | Average Daily Balance (including new purchases) | | Cash Advance Fee | 3% min $5.00, max $50.00 | | Balance Transfer Fee | 3% min $5.00, max $75.00 | | Over-the-credit-limit fee | $35.00 | | Late Payment fee | $15.00 - up to $100
$25.00 - $100.01-$1000
$39.00 - greater than $1000 |
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