HSBC Purchase Plus Credit Card

When it comes to managing large purchases or consolidating existing credit card balances.

The HSBC Purchase Plus Credit Card stands out as one of the most competitive 0% interest credit card offers in the UK. With a generous promotional window for purchases and balance transfers, no annual fee, and the backing of HSBC’s strong brand reputation, it is positioned as a solid option for both everyday spending and strategic debt management.

Key Benefits

• 0% interest on purchases for up to 20 months from account opening.
• 0% interest on balance transfers for up to 17 months (3.49% fee, min. £5) when made within the first 60 days.
• No annual fee – keeping ownership costs low.
• Section 75 Protection on eligible purchases between £100 and £30,000.
• Global acceptance thanks to the Mastercard network.

These benefits make it appealing to customers who need flexibility to spread the cost of larger transactions or wish to consolidate debts from higher-interest credit cards.

How It Works

The HSBC Purchase Plus Credit Card offers a fixed promotional period starting from the date your account is opened. During this window, eligible purchases and balance transfers accrue no interest, provided you make at least the minimum monthly repayment and stay within your credit limit.

For example:

• Spending £1,500 on furniture in month one will not incur interest for up to 20 months.
• Transferring a £2,000 balance from another provider in the first month could save hundreds of pounds in interest, though a one-time 3.49% transfer fee applies (£69.80 in this example).

Once the promotional period ends, the representative APR is 24.9% variable – meaning any remaining balance will start accruing interest.

Competitive Comparison

Feature / Provider	HSBC Purchase Plus	Barclays Platinum	NatWest Purchase & Balance Transfer
0% on purchases	Up to 20 months	Up to 21 months	Up to 18 months
0% on balance transfers	Up to 17 months	Up to 18 months	Up to 17 months
Balance transfer fee	3.49% (£5 min)	2.99% (£5 min)	2.99% (£5 min)
Annual fee	£0	£0	£0
Representative APR	24.9% var.	24.9% var.	24.9% var.

While Barclays offers one additional month for purchases, HSBC’s offer remains highly competitive, especially for customers already banking with HSBC and seeking convenience in account management.

Primary Use Cases

1. Large Planned Purchases

Home improvements, electronics, or travel expenses can be paid off gradually without interest.

2. Debt Consolidation

Transferring balances from higher-APR credit cards can reduce interest costs significantly.

3. Cash Flow Management

Spreading the cost of essential purchases across several months can ease budget pressures.

Cost–Benefit Analysis

The main cost to consider is the balance transfer fee, which at 3.49% can add up for large amounts. However, the savings from avoiding interest often outweigh the fee, especially for debts that would otherwise accrue 20%+ APR. For purchases, the absence of a fee and long promotional period make the HSBC Purchase Plus one of the most cost-effective short-term financing tools available in the UK market.

Continue Reading

In Page 2, we’ll cover a detailed usage guide, advanced tips to maximise savings, a FAQ with lesser-known rules, and a comparison with alternative UK cards to help you decide if the HSBC Purchase Plus is truly the best fit for your financial goals.