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HSBC Platinum review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

HSBC Platinum suits US cardholders who spend heavily on gas, groceries and travel and can put the annual fee to work. Foreign purchases cost nothing extra, at 0%, which is the fact that sets it apart from most cards in the set, and deposits sit with an FDIC member bank.

Key facts

Best for
Cardholders who want a US rewards credit card with no foreign transaction fee and a fee offset by perks.
Annual fee
$95↗
APR
19.99% to 24.99%↗
Currency conversion fee
0%↗
Rewards type
Points↗
Rewards rate
3x points on gas and groceries, 2x on travel, 1x on other purchases↗
Balance transfer fee
5%↗
Perks
Rewards for Miles transfer to 11 airline and 2 hotel partners, Purchase Assurance up to $1,000 for damage or theft within 90 days, Cellular Wireless Telephone Protection up to $600 per claim, Up to $60 in annual streaming statement credits, Up to $85 Global Entry/TSA Precheck/NEXUS credit every 4.5 years, 3 free months of Instacart+ and $10 off second order each month, $5 Lyft app credit after 3 rides each month↗
Card kind
Credit↗
Legal entity
HSBC Bank USA, National Association↗
Headquarters
United States↗
Support channels
Phone, Chat, Help-centre↗
Features
Rewards
Official website
hsbc.com

Facts checked September 26, 2026, 2 sources

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • Foreign currency conversion costs 0%, the strongest fee figure in the comparison set
  • Points on spending, with extra on gas, groceries and travel, and Rewards for Miles transfer to airline and hotel partners
  • Purchase Assurance, cellular wireless telephone protection and statement credits add value beyond the points
  • Support runs on phone, chat and help centre

Cons

  • An annual fee of $95 for a single card, above the €6 typical upper range in the set
  • Purchase APR of 19.99% to 24.99% sits high on balance, against a 15.5% median across the site
  • Rewards are points, not cashback, and the fee only pays off with steady spend
HSBC Platinum

Ready to try HSBC Platinum?

Scored 9.0 / 10 by SumCue.

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Who it suits

  • US residents who keep a balance but pay it down most months
  • Spenders who buy gas, groceries and travel often enough for the points to outweigh the fee
  • Travellers who spend abroad, where a 0% currency conversion fee keeps the cost down

Who should look elsewhere

  • Anyone avoiding a fee on a single card, where bunq charges €0
  • Credit builders starting out, since the Varo Believe Secured Credit Card carries $0
  • Payday carry balances, given the purchase APR of 19.99% to 24.99%

How HSBC Platinum compares

Where HSBC Platinum is available

Available
United States
Licence in United States
FDIC (FDIC cert 57890), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does HSBC Platinum cost to hold?+

The annual fee is $95, which is high against a €0 median across the site. That figure sits well above the €6 upper typical range, so the card only makes sense if the perks and points are used.

Is there a fee on spending abroad?+

No. The currency conversion fee is 0%, meaning foreign purchases carry no extra charge. For a US cardholder buying in another currency, that removes a cost most competitors add, and it is why travel spends score extra points.

What rate applies if I carry a balance?+

The purchase APR is 19.99% to 24.99%, against a 15.5% median across the site. The APR sits near the top of the range, so revolving a balance is expensive and clearing the statement each month is the sensible use.

How are the rewards structured?+

Rewards are points, not cashback. Earning is strongest on gas and groceries, with more on travel and a base rate on other purchases, and points can move through Rewards for Miles transfer to airline and hotel partners.

Who is behind the card and are deposits protected?+

The issuing entity is HSBC Bank USA, National Association, headquartered in the United States. It holds a US banking licence, FDIC cert 57890, so deposits sit with an FDIC member bank rather than a standalone card issuer.

What support can I reach?+

Support runs on phone, chat and help centre, covering phone, chat and a help centre. That mix suits people who prefer to call about a disputed charge as well as those who resolve questions in chat.

Is the card type right for me?+

It is a credit card, revolving credit with a statement rather than paid in full from a balance. Rewards are the main feature, with perks including purchase protection, cellular telephone protection and statement credits alongside the points.

Sources

  • banks.data.fdic.gov/bankfind-suite/bankfind/details/57890 checked September 26, 2026

    Backs: Headquarters, Legal entity, Licences

    “CERT=57890; NAME=HSBC Bank USA, National Association; WEBADDR=https://www.about.us.hsbc.com/hsbc-in-the-usa; ACTIVE=1”

  • us.hsbc.com/credit-cards/products/premier checked September 26, 2026

    Backs: Annual fee, APR, Balance transfer fee, Card kind, Features, Currency conversion fee, Perks, Rewards rate, Rewards type, Support channels

    “The annual fee for the Premier credit card is $95 for primary cardholder & $0 for Authorized User(s) per year”

Compiled from 2 source pages, checked September 26, 2026. We did not open an account.

HSBC Platinum

HSBC Platinum

Cardholders who want a US rewards credit card with no foreign transaction fee and a fee offset by perks.

9.0/10See alternatives