mastercard travel rewards hsbc

• Credit cards
• View all credit cards
• Banking guide
• Loans guide
• Insurance guide
• Personal finance
• View all personal finance
• Small business
• Small business guide
• View all taxes

You’re our first priority. Every time.

We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners .

Making the Most of the HSBC Cash Rewards Mastercard

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

The HSBC Cash Rewards Mastercard® credit card hits many of the right notes as a cash-back card: The earning rate is in line with similar cards, and the $0 annual fee makes it easy to keep in your wallet for a long time.

But a few unique perks help this card stand out in a crowded field.

It offers the ease of a flat-rate card that earns the same amount of cash back wherever you use it — but you'll get a special promotional rate in the first year. And unlike a lot of other cash-back cards, this one travels well.

Here’s how to make the most of the HSBC Cash Rewards Mastercard® credit card .

» MORE: NerdWallet's best cash-back credit cards

Max out the introductory cash-back rate

In lieu of a traditional upfront sign-up bonus, the HSBC Cash Rewards Mastercard® credit card pays 3% cash back on the first $10,000 you spend in the first year you have the card. From that point on, you’ll earn an unlimited 1.5% cash back on all purchases, which has become the gold standard among flat-rate cash-back cards .

At a 3% earning rate, anyone who spends around $833.33 per month in the first year would net $300 in cash back.

“ If you time major purchases to fall within the first year of having this card, you can maximize the introductory cash-back rate while sticking to your budget. ”

Of course, if your typical monthly spending is less than that, it’s not worth spending more than you normally would just to get additional cash back. But if you time major purchases to fall within the first year of having the HSBC Cash Rewards Mastercard® credit card , you can maximize the introductory cash-back rate while sticking to your budget.

» MORE: Full review of the HSBC Cash Rewards Mastercard® credit card

Take the card with you overseas

Typically, even the best cash-back cards on the market aren't ideal for international use because — unlike many travel rewards cards — they tend to charge foreign transaction fees of between 3% to 5% on every purchase.

That can add up over the course of any trip abroad.

“ The card is a solid travel buddy, with no foreign transaction fees to worry about and the worldwide acceptance of a Mastercard. ”

But the HSBC Cash Rewards Mastercard® credit card is a solid travel buddy, with no foreign transaction fees to worry about and the worldwide acceptance of a Mastercard. Pack it with you on your next international journey.

» MORE: NerdWallet's best no foreign transaction fee credit cards

Pair with another cash-back card

If you want to keep it simple, it’s hard to beat the 3% cash back you’d earn in the first year. But it can pay to pair the HSBC Cash Rewards Mastercard® credit card with another cash-back card or two, especially once you pass $10,000 in spending in the first year.

After all, 1.5% cash back is good, but that still isn’t the highest cash-back rate around.

Happy to use one card for everything? Once you no longer earn the higher cash-back rate, consider the Citi Double Cash® Card . It earns 1% cash back as you spend and 1% back when you pay your bill, for a total of 2% cash back on all purchases. The annual fee is $0 , but there’s a foreign transaction fee, so keep your HSBC Cash Rewards Mastercard® credit card on hand to use when you travel internationally.

Want to earn more in the first year of having the HSBC Cash Rewards Mastercard® credit card ? The Chase Freedom Flex℠ earns 5% cash back on up to $1,500 in spending on quarterly rotating bonus categories that rotate every three months (category activation required). In the past, categories have included things like grocery stores, restaurants and gas stations. So you could use the Chase Freedom Flex℠ whenever you shop in that quarter’s bonus category, and use the HSBC Cash Rewards Mastercard® credit card everywhere else. The Chase Freedom Flex℠ has an annual fee of $0 and offers this sign-up bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. But again, because the Chase Freedom Flex℠ charges a foreign transaction fee, the HSBC Cash Rewards Mastercard® credit card can remain your faithful travel companion.

Willing to pay an annual fee? If so, you can earn even more in certain spending categories while using the HSBC Cash Rewards Mastercard® credit card everywhere else. Are groceries your biggest expense? The Blue Cash Preferred® Card from American Express earns 6% cash back at U.S. supermarkets on up to $6,000 in spending per year (1% after that). Terms apply ( see rates and fees ). You'll get a welcome bonus: Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Terms Apply. This card's current offer includes a $0 intro annual fee for the first year, then $95. If you prefer going out over staying in, the Capital One Savor Cash Rewards Credit Card earns 4% cash back on dining out, entertainment and eligible streaming services, plus 3% back at grocery stores (ideal once you pass the intro 3% cash-back period on the HSBC Cash Rewards Mastercard® credit card ). New cardholders are eligible for this sign-up bonus: Earn a one-time $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening. The annual fee is $95 .

» MORE: More on how pairing up your cards can maximize rewards

Stick to the easiest and most valuable redemption: cash back

The HSBC Cash Rewards Mastercard® credit card provides more redemption options than some competing cards do. However, in this case, “more” doesn’t necessarily equal “better.”

“ Extra redemption options make this card more flexible, but redeeming for a statement credit is the simplest way to get value out of your rewards. ”

As with most cash-back cards, the most effortless way to redeem with this card is by getting a statement credit.

You do have other redemption options, including things like travel, merchandise or gift cards. But those redemptions generally offer you less than full value for your rewards. Travel and merchandise, for instance, offer values as poor as 80 cents on the dollar. For gift cards, it can be as low as 67 cents on the dollar. Some of these options, too, may require minimum redemption thresholds.

With this card, redeeming for cash back in the form of a statement credit truly is the simplest way to get value out of your rewards. Besides, if travel points and miles are more your speed, travel rewards cards generally offer higher-value sign-up bonuses and easier travel redemptions. The HSBC Cash Rewards Mastercard® credit card shines brightest as a cash-back product.

» MORE: Cash-back cards that are great for travel, too

For even more cash-back flexibility, become a loyal HSBC customer

Prefer your cash back in the form of, well, cash? If you have an eligible HSBC consumer checking or savings account, you can opt to redeem rewards as a direct deposit.

You won’t get any kind of bonus for having a bank account with HSBC (unlike, say, what the Bank of America® Customized Cash Rewards credit card can offer for being a Bank of America Preferred Rewards ® client).

But the ability to get cash back in two ways is a nice added benefit to banking and having a credit card with HSBC.

To view rates and fees of the Blue Cash Preferred® Card from American Express , see this page . The information related to the Capital One Savor Cash Rewards Credit Card has been collected by NerdWallet and has not been reviewed or provided by the issuer of this card.

On a similar note...

Find the right credit card for you.

Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

We have detected your browser is out of date.  For more information, please see our  Supported Browsers page.

How to view your HSBC Rewards balance, browse, and redeem rewards

To view your hsbc rewards balance.

• Log on to Personal Internet Banking .
• Select your credit card from the account summary screen.
• Click “Manage” on the right side of the screen, then select “View and redeem rewards”.
• You’ll be taken to the HSBC Rewards Program website. Your balance will be displayed on the screen. 

To browse or redeem HSBC Rewards

• You’ll be taken to the HSBC Rewards Program website. Browse rewards by choosing a category from the menu of options provided.
• To redeem, add your selected merchandise or gift card to your Shopping Cart or follow the instructions provided.

I still need help

Fastest way

• Chat  with us for assistance.

Other ways to get help

By telephone

• Contact Customer Service .
• HSBC Rewards Program

Connect with us

WealthRocket is reader-supported. When you buy through links on the website, we may earn an affiliate commission.

HSBC Travel Rewards Mastercard® Review 2023

Victor Irungu

Why you can trust us

The team at WealthRocket only recommends products and services that we would use ourselves and that we believe will provide value to our readers. However, we advocate for you to continue to do your own research and make educated decisions.

HSBC Travel Rewards Mastercard®

Rated 1.8/5 stars.

• 3 pts Earn 3 points per $1 spent on eligible travel-related purchases.
• 2 pts Earn 2 points per $1 spent on gas and transportation.
• 1 pt Earn 1 point per $1 spent on all other eligible everyday purchases.
• Welcome Bonus None
• Annual Rewards $142 Learn how we calculate this.
• Annual Fee $0
• Minimum Income Required None
• No annual fee
• $0 supplementary card fee

Travel insurance

• Extensive list of partners for rewards
• 2.5% foreign transaction fee
• Capped travel rewards amount of $6,000
• Low rewards for non-travel-related purchases

The HSBC Travel Rewards Mastercard is designed for the frequent traveller. This travel rewards credit card allows you to earn points on every purchase. You can use your points in one of three ways: for travel, for a statement or loan credit, convert into cash and save, or redeem for gift cards and merchandise at select partners.

In This Article

Hsbc travel rewards mastercard: an overview, hsbc travel rewards mastercard rewards, hsbc travel rewards eligibility, hsbc travel rewards interest rates and fees, hsbc travel rewards mastercard perks, compare hsbc travel rewards mastercard alternatives, our final thoughts.

The Royal Bank of Canada (RBC) will be purchasing HSBC Canada. As a result, HSBC products will be discontinued shortly. Please refer to the best credit cards in Canada for alternatives.

Are you looking for a credit card that rewards you for travelling? With generous discounts on travel bookings, valuable travel insurance, and a variety of rewards points, the HSBC Travel Rewards Mastercard ® is an all-in-one travel card that can help you save on your next trip.

This HSBC Travel Rewards Mastercard review discusses the features and benefits of this card. It outlines the rewards you can earn, explains how to redeem your points, and provides an overview of any additional perks or discounts associated with the card. Read on to learn more about this travel rewards credit card and if it’s right for you.

The HSBC Travel Rewards Mastercard is an excellent choice for travel junkies who want to maximize travel rewards. This card offers points on every purchase, additional points for travel-related purchases, and no annual fee. To redeem points for the best value, cardholders can apply their points to travel related purchases. This includes purchases made from airlines, hotels, campgrounds cottages, cruise lines, and more.

The HSBC Travel Rewards Mastercard offers points on almost all purchases made.

Eligible travel:  3 points per dollar spent with a cap amount of $6,000 per calendar year (after you reach the cap amount, you’ll earn 1 point per dollar)

Eligible gasoline and daily transit:  2 points per dollar spent

All other eligible purchases: 1 point per dollar spent

Redeeming rewards with the HSBC Travel Rewards Mastercard is simple. Your earned points will appear on your account, and you can redeem them either online or over the phone.

For travel-related purchases, your online account will have a tab titled “Redeem Now.” From there you can select “Travel” to find travel purchases or to book directly using your HSBC credit card. For a statement credit, cardholders can find all travel-related transactions made in the last 60 days to apply points directly to their purchase. This is useful because cardholders are not restricted to specific companies for travel expenses. All purchases of goods and services from airlines, car rental agencies, hotels, cottages, campgrounds, and more will show up as a travel-related purchase that users can apply points to.

Cardholders can use their points in three different ways:

• Travel: HSBC points can be used for all things travel related. Book transportation, hotels, cruises, rail tickets, and more directly on the rewards site. You can also redeem points for a statement credit toward travel purchases made online or through travel agents and charged to the card.
• Financial:  Use your points to achieve your financial goals. Convert your points for a credit toward your HSBC Bank Canada residential mortgage, credit card balance, or add the points to your HSBC personal savings account in the form of cash.
• Gift cards and merchandise: With an extensive list of exclusive partners, HSBC points can be used for Apple products, other electronics, accessories, home and beauty essentials, and hundreds of other items. Don’t see an item you like? HSBC has more than 50 gift card options and 3 charities to put points toward.

To apply for the HSBC Travel Rewards Mastercard, you must be of legal age and have a good  credit score of around 670 to 739. There is no minimum income requirement to qualify for the card or annual fee.

• Annual fee:  $0
• Foreign transaction fee: 2.5%
• Extra card fe e: $0
• Cash advance fee:  $5 (doesn’t apply to Quebec)

Interest rates

• Purchases: 20.99%
• Cash advances: 22.99%
• Cash advances (Quebec): 21.99%
• Balance transfers: 22.99%
• Balance transfers (Quebec): 21.99%
• Penalty APR: 25.99%

In addition to its rewards, this card offers a few extra benefits for travellers.

The HSBC Travel Rewards Mastercard comes with baggage delay, trip interruption, and hotel/motel burglary travel insurance. For a low annual premium of $69, you can tack on emergency medical coverage, too.

Extended warranty coverage

Extended warranty coverage, and purchase assurance offers extra security when making purchases with your card.

• Annual Rewards $142

TD First Class Travel® Visa Infinite* Card

• Welcome Offer Up to $800 value, including up to 100,000 Aeroplan points.
• Annual Fee $139
• Interest Rates Purchases: 20.99%, Cash Advances: 22.99%
• Recommended Credit Score 760 - 900

American Express Cobalt Credit Card

• Welcome Offer Up to 30,000 Membership Points
• Annual Rewards $1029
• Annual Fee $155.88

The HSBC Travel Rewards Mastercard is a good choice for those looking for an easy way to earn rewards points on travel-related purchases. The capped rewards amount may be an issue for some. However, the card provides a lot of value that can outweigh this factor. All in all, it’s a great option if you’re looking for an easy way to maximize your rewards while travelling.

Victor is a freelance content/SEO writer based in Kenya. He has 10 years’ experience covering financial topics such as cryptocurrency, forex trading, insurance, mortgages, and investing.

Related Articles

Cibc aeroplan® visa* card for students review 2023.

Barry Choi November 23, 2023

EQ Bank Card Review 2024

Sandra MacGregor January 25, 2024

CIBC Dividend® Visa Infinite* Card Review 2024

Steven Brennan March 15, 2024

BMO Air Miles Mastercard Review 2023

Sandra MacGregor November 1, 2023

SimplyCash® Preferred Card from American Express Review 2023

H.G. Watson October 23, 2023

Neo Secured Credit Card Review 2023

Rachel Morgan Cautero October 25, 2023

Advertiser Disclosure

Bankrate.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Bankrate.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval, also impact how and where products appear on this site. Bankrate.com does not include the entire universe of available financial or credit offers.

Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money and how we rate our cards . The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy , so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts , who ensure everything we publish is objective, accurate and trustworthy.

Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money.

Editorial integrity

Bankrate follows a strict editorial policy , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.

How we make money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.

Bankrate follows a strict editorial policy , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

HSBC Cash Rewards Mastercard® credit card

*The information about the HSBC Cash Rewards Mastercard® credit card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Intro offer

Earn an Introductory 3% Cash Back on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases

Rewards rate

10% Anniversary Bonus on all Cash Rewards earned once a year Earn an Introductory 3% Cash Back on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases Earn unlimited 1.5% cash back on all purchases

Regular APR

On This Page

• Pros and cons
• Current card offer
• Value of rewards
• Key cardholder perks
• Understanding the fees
• HSBC Cash Rewards Mastercard vs. other rewards cards
• Is this card worth getting?

HSBC Cash Rewards Mastercard® credit card overview

The HSBC Cash Rewards Mastercard credit card isn’t a standout. While it has a decent welcome offer and solid cash back earnings paired with an introductory 12 months of 0 percent APR on balance transfers and purchases (13.99 percent to 23.99 percent variable APR thereafter), there are other cards that offer better options across each of these categories.

Still, there’s plenty to like about this jack-of-all-trades Mastercard, making it a potential contender for a permanent place in your wallet.

What are the advantages and disadvantages?

No annual fee

Above-average cash back earning for the first 12 months

Multiple benefits, including intro purchase and balance transfer APR

Other cards offer better individual welcome offers and reward rates

High balance transfer fee

A deeper look into the current card offer

Quick highlights.

• Rewards rate : Unlimited 1.5 percent cash back on all eligible purchases
• Welcome offer : 3 percent cash back on eligible purchases in the first 12 months, up to $10,000 in purchases
• Annual fee : None
• Purchase intro APR : 0 percent for the first 12 months
• Balance transfer intro APR : 0 percent for the first 12 months
• Regular APR : 13.99 percent to 23.99 percent variable

Current welcome offer

Want to double your cash back for the first year? That’s essentially the welcome offer from HSBC. For the first 12 months (and up to $10,000 in purchases), cardholders earn 3 percent cash back on all eligible purchases, followed by 1.5 percent unlimited cash back once the spending cap is met. This means if you make $10,000 worth of purchases in your first year of card ownership, you’ll get $300 cash back.

While the HSBC Cash Rewards Mastercard’s reward rates are described in terms of cash back percentages, the card’s documentation makes it clear. For every eligible purchase, you’ll earn “cash rewards” points you can redeem for cash back or other rewards.

Earning rewards

In practice, this means eligible spending in your first year will earn you three cash rewards points per dollar, which you can redeem at a rate of 3 percent cash back. Afterward, you’ll earn 1.5 cash rewards points per dollar, or 1.5 percent cash back.

Redeeming rewards

The HSBC Cash Rewards Mastercard credit card focuses primarily on cash back that can be deposited to your HSBC account or used as statement credit.

Other redemption options are also available, however, including airfare, hotel bookings and car rentals, along with gift cards and merchandise, all of which are accessible through HSBC’s online rewards portal.

How much are cash rewards points worth?

The value of cash rewards points varies based on the rewards you select. For example, rewards points redeemed for cash back are worth 1 cent per point. This value remains consistent even after the welcome offer expires—you simply earn fewer points on each purchase.

When it comes to redeeming points for other rewards, meanwhile, the value is less consistent. The cost of flights and other merchandise often changes based on seasonal fluctuations and consumer demand, making cash redemption the more reliable option.

Along with a solid welcome offer and steady cash back, this card also offers other benefits.

Mastercard Travel and Lifestyle Services

These Mastercard services provide access to luxury amenities and upgrades at popular travel destinations worldwide.

Identity theft protection

If your identity or card is compromised, you get access to one-on-one support until your claim has been resolved.

Cellphone protection

Has your smartphone been stolen or damaged? You’re covered with up to $600 in reimbursements per claim, as long as you pay your bill with your card.

Shopping and travel benefits

You’ll get access to a ton of shopping and travel discounts, including 10 percent off rental homes with onefinestay, a complimentary ShopRunner membership, discounted access to Priceless Golf courses and more.

Rates and fees

While this card has no annual fee, it does have late and returned payment fees of up to $39, along with a 24.99 percent cash advance variable APR and a 29.99 percent penalty variable APR if you make late or returned payments. The penalty APR persists for at least six months.

But it’s not all bad news—cardholders also enjoy a 0 percent intro balance transfer APR for the first 12 months (13.99 percent to 23.99 percent variable APR thereafter), making this card a great choice if you’re looking to move credit card debt from another, higher interest account. To take advantage of this rate, balance transfers must be posted within the first 60 days of account opening. You’ll also need to pay the greater of a $10 or 4 percent balance transfer fee.

In addition, cardholders get 0 percent intro purchase APR for 12 months, followed by a 13.99 percent to 23.99 percent variable APR based on creditworthiness.

How the HSBC Cash Rewards Mastercard compares to other rewards cards

Compared to some of the best cash back rewards cards and no annual fee offerings , the HSBC Cash Rewards Mastercard comes up short—but not by much.

Those looking for a higher earning rate should consider the Citi Double Cash® Card , which offers up to 2 percent unlimited cash back—1 percent when you make eligible purchases and another 1 percent when you pay for those purchases. While the 2 percent flat rate is lower than HSBC’s intro 3 percent offer, the big benefit here is that there’s no limit on how much you can earn each year, and the offer never expires.

The Capital One Quicksilver Cash Rewards Credit Card ( See Rates & Fees ) , meanwhile, offers 1.5 percent unlimited cash back on all purchases, plus $200 cash back after you spend $500 in the first three months—all with no annual fee.

Recommended Credit Score

Citi Double Cash® Card

Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.

Capital One Quicksilver Cash Rewards Credit Card

Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, every day

Best cards to pair the HSBC Cash Rewards Mastercard with

If you’re looking to pair the HSBC Cash Rewards Mastercard with another credit offering, consider a travel rewards card that offers bonus multipliers for spending on airfare or dining or a card that offers a bigger cash back bonus upfront.

Here, it’s all about finding the card that best fits the situation. For everyday spending and balance transfers, the HSBC card makes sense; but for bigger travel bonuses or direct cash back benefits, other cards come out ahead.

Bankrate’s Take—Is the HSBC Cash Rewards Mastercard credit card worth it?

While other options outpace it in specific circumstances, the HSBC cash rewards offering is a solid all-around choice that combines intro purchase and balance transfer APRs, no annual fee and reliable cash back.

The information about the HSBC Cash Rewards Credit Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.

Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.

Capital One SavorOne Cash Rewards Credit Card Review

Chase Freedom Unlimited® Review

Citi Custom Cash® Card Review

Discover it® Cash Back Review

Bank of America® Customized Cash Rewards credit card Review

Upgrade Cash Rewards Elite Visa® Review

Prime Visa Review

Discover it® Chrome Review

Bank of America® Unlimited Cash Rewards credit card Review

Capital One Quicksilver Cash Rewards Credit Card Review

Find your odds with no impact to your credit score

Apply for a credit card with confidence.

Apply for a credit card with confidence. When you find your odds, you get:

A personalized list of cards ranked by likelihood of approval

Special card offers from top issuers in our network

No credit hits. Enjoy a safe and seamless experience that won’t affect your credit score

Tell us your name to get started

This lets us verify your credit profile

Your personal information and data are protected with 256-bit encryption.

Your personal information is secure

We use your info to run a soft credit pull which won’t impact your credit score

Here’s how we protect your safety and privacy. That means:

We only use your info to run a soft credit pull, which won’t impact your credit score

We’ll never send mail to your home

All of your personal information is protected with 256-bit encryption

What’s your mailing address?

This helps us verify your credit profile.

Why we're asking

Your financial information, like annual income and employment status, helps us better understand your credit profile and provide more accurate approval odds.

Your financial information, like annual income and employment status, helps us better understand your credit profile.

Having a clearer picture of your credit profile will help us ensure that your approval odds are as accurate as possible.

What’s your employment status?

What's your estimated annual income?

Your answer should account for all personal income, including salary, part-time pay, retirement, investments and rental properties. You do not need to include alimony, child support, or separate maintenance income unless you want to have it considerd as a basis for repaying a loan. Increase non-taxbile income or benefits included by 25%.

Knowing your rent or mortgage payments helps us calculate your debt-to-income ratio (DTI) which is your monthly debt payments divided by your pre-tax monthly income.

Why does DTI matter? Your DTI gives us a clearer picture of your credit profile, which allows us to evaluate which cards you’re likely to get approved for more accurately.

Monthly rent or mortgage payment

Put $0 if you currently don’t have a rent or mortgage payment.

Almost done!

We need the last four digits of your social security number to run a soft credit pull.

We need the last four digits of your Social Security number to run a soft credit pull. This helps us locate your profile and identify cards that you may qualify for. Your information is protected by 256-bit encryption.

A soft credit pull will not affect your credit score.

Enter the last 4 digits of your Social Security number

Last step! Once you enter your email and agree to terms:

Your approval odds will be calculated

A personalized list of cards ranked by order of approval will appear

Your odds will display on each card tile

Enter your email address

Enter your email address to activate your approval odds and get updates about future card offers.

By clicking “Agree and See Results” you acknowledge receipt of our Privacy Notice , Privacy Policy and agree to our Terms of Use . By agreeing, you are giving your written instruction to Bankrate and our lending partners (together, “Us”) to obtain a soft pull of your credit report to determine whether you may be eligible ...show more for certain targeted offers, including pre-qualified and pre-approved offers (your "CardMatch offers"), as well as display what we estimate your approval odds to be for participating offers (“Approval Odds”). You instruct Us to do this each time you return to our sites to view product offerings and up to once per month so you can be provided up-to-date results.

You understand that this is not an application for credit and CardMatch offers and Approval Odds do not guarantee you will be approved for a partner offer. To apply for a product you will need to submit an application directly with that provider. Seeing your results won't hurt your credit score. Applying for a product may impact your score. See partner for complete product terms. Show less

We’re sending you to the issuer’s site to complete your application.

Just a second... We’re matching you with personalized offers

Hold tight, we’re loading your personalized results page, sorry, we couldn't access your approval odds..

This often happens when the information that's provided is incorrect. Please try entering your full information again to view your approval odds.

Check your approval odds before you apply

Answer a few questions and see if you’re likely to be approved in less than a minute—with no impact to your credit score.

Check your approval odds on similar cards before you apply

Before you apply...

See which cards you’re likely to be approved for

In less than 60 seconds, answer some questions and we’ll estimate your odds of approval on eligible cards. You get:

A personalized list of cards ranked by likelihood of approval.

Access to special card offers from top issuers in our network.

No credit hits. Enjoy a safe and seamless experience that won’t affect your credit score.

But don’t worry! You can check out other cards that are a better fit.

The best HSBC credit cards of 2020

Update : Some offers mentioned below are no longer available. View the current offers here .

HSBC is one of the world's largest banking and financial services institutions. Yet many U.S. consumers don't think of the company when shopping for a new rewards credit card . HSBC currently only offers six credit cards to U.S. consumers, so let's take a detailed look at these six cards and answer some common questions about them.

New to The Points Guy? Sign up for our TPG daily newsletter and check out our beginner's guide .

Best HSBC credit cards for 2020

• HSBC Gold Mastercard® credit card : Best for introductory APR
• HSBC Cash Rewards Mastercard® credit card : Best for cash-back rewards
• HSBC Cash Rewards Mastercard® credit card Student Account : Best for cash-back rewards for students
• HSBC Advance Mastercard® credit card : Best for dining and entertainment
• HSBC Premier World Mastercard® credit card : Best for travel
• HSBC Premier World Elite Mastercard® credit card : Best for premium travel rewards

To start our analysis, here is a comparison of the best HSBC credit cards currently accepting new applications.

Comparing the best HSBC credit cards

More details on the best hsbc credit cards.

Let's take a look at the details of each of these HSBC credit cards and offers, including rewards rates, benefits and annual fees.

HSBC Gold Mastercard credit card: Best for 0% introductory APR

Why this is the best for 0% introductory APR : This card offers 0% introductory APR on purchases and balance transfers for the first 18 months after account opening.

Introductory offer : 0% introductory APR on purchases and balance transfers for the first 18 months from account opening. Balance transfers must be posted within the first 60 days following account opening. Once the introductory period is over, a variable APR of 12.99%, 16.99% or 22.99% will apply. A balance transfer fee of either $10 or 4%, whichever is greater, applies on each balance transfer.

Rewards rate : None

Top benefits and perks :

• Check to see if you are prequalified , which only requires a soft credit check that has no impact on your credit score
• Late fee waiver, which means HSBC will waive the late fee once within a 12-month period
• No penalty APR, which means HSBC will not raise your APR if you pay late
• MasterRental coverage, which provides protection for physical damage and theft to most rental vehicles
• No foreign transaction fees

Annual fee : None

Is this card worth it? Whether you're looking to delay payment of a large purchase or you're working to pay off debt , the HSBC Gold Mastercard may be able to help with its 0% introductory APR on purchases and balance transfers for the first 18 months. However, some other cards offer lower balance transfer fees, so it may be worth considering other options.

Related reading: The best balance transfer credit cards

HSBC Cash Rewards Mastercard credit card: Best for cash-back rewards

Why this is the best for cash-back rewards : This card provides 3% cash back on up to $10,000 in purchases made within your first 12 months and 1.5% cash back after that.

Introductory offer : Earn 3% cash back on up to $10,000 in purchases within your first 12 months from account opening. Plus, get 0% introductory APR on purchases and balance transfers for the first 12 months from account opening. Balance transfers must be posted within the first 60 days following account opening. After that, a variable APR of 12.99%, 16.99% or 22.99% will apply. A balance transfer fee of either $10 or 4%, whichever is greater, applies on each balance transfer.

Rewards rate : Earn 1.5% cash back on all purchases (after the 3% introductory period ends)

• $5 off on Postmates orders of $25 or more for delivery of food, drinks and groceries (not including taxes, delivery fees, and tips)
• Cellular wireless telephone protection that may provide reimbursement up to $600 per claim if your cellphone is stolen or damaged
• Complimentary ShopRunner membership for unlimited, free two-day shipping and free return shipping at over 140 online stores

Is this card worth it? The introductory 3% offer provides solid cash-back earning during your first year, and 1.5% cash back long-term is also strong. If you're looking for a simple no annual fee card that earns flat-rate cash back, this is a solid choice. However, you can do slightly better with some other cards such as the Citi® Double Cash Card that provides up to 2% cash back on everything as 1% when you buy and 1% as you pay.

Related reading: The best cash-back credit cards

HSBC Cash Rewards Mastercard credit card Student Account: Best for cash-back rewards for students

Why this is the best for cash-back rewards for students : Students can be approved without any credit history. Plus, the card offers 1.5% cash back on all purchases.

Introductory offer : None

Rewards rate : Earn 1.5% cash back on all purchases

• No credit history required for approval
• Unlimited access to online tools to learn about credit
• Get your FICO Credit Score for free each month on your HSBC credit card statement
• Graduate to the standard HSBC Cash Rewards Mastercard credit card after four years if your account is in good standing
• Complimentary ShopRunner membership

Is this card worth it? The HSBC Cash Rewards Mastercard credit card Student Account can be a good option for students who have an existing HSBC deposit account. Eligible students may be able to open this unsecured credit card without credit history and earn 1.5% cash back while building their credit .

Related reading: Best credit cards for college students

HSBC Advance Mastercard credit card: Best for dining and entertainment

Why this is the best for dining and entertainment : This card earns 3x points on dining and select entertainment during your first 12 months and then 2x points once the introductory period is complete. You must have a qualifying HSBC Advance or Premier checking account relationship to be eligible for this card.

Introductory offer : Earn an introductory 3x points on dining and select entertainment purchases plus 2x points on all other purchases in the first 12 months from account opening, up to the first $25,000 in purchases. Plus, get 0% introductory APR on credit card purchases and balance transfers for the first 12 months from account opening.

Balance transfers must be posted within the first 60 days following account opening. After that, a variable APR of 14.99% or 18.99% will apply. A balance transfer fee of either $10 or 4%, whichever is greater, applies on each balance transfer.

Rewards rate : Earn 2x Rewards Program Points on dining and select entertainment purchases after the intro period. Plus, earn 1x on all other purchases after the intro period.

• 10% off when booking luxury hotel stays through onefinestay

Annual fee : $0 during the first year of account opening, then $0 for cardholders who have a qualifying U.S. HSBC Advance or Premier checking account relationship and $45 for cardholders who no longer have a qualifying checking account relationship

Is this card worth it? If you are eligible for this card with a $0 annual fee, it can be a good way to earn bonus points on dining and entertainment. But, it's unclear from publicly available materials what type of redemption value you'll get from Rewards Program Points. So, it may be better to opt for a more straightforward rewards credit card that earns bonus rewards on dining and/or entertainment such as the Capital One Savor Cash Rewards Credit Card or the Capital One SavorOne Cash Rewards Credit Card.

The information for the Capital One Savor card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related reading: Credit card showdown: Capital One Venture vs. Capital One Savor

HSBC Premier World Mastercard credit card: Best for travel

Why this is the best for travel : This card offers 2x points on travel purchases as well as various travel-related perks. You must have a qualifying HSBC Premier checking account to be eligible for this card.

Introductory offer : Earn 35,000 Rewards Program Bonus Points -- worth at least $400 in air travel -- after spending $3,000 in the first three months from account opening.

Rewards rate : Earn 2x Rewards Program Points on travel purchases and 1x Points on all other purchases.

• Enjoy complimentary unlimited premium Wi-Fi at over a million secure hotspots worldwide with Boingo . Get simultaneous access for up to four devices.
• Receive up to $50 in statement credits annually for rides with Uber and Lyft
• Get a statement credit of $85 every five years as reimbursement for a TSA PreCheck application fee
• 10% discount when you book your hotel or vacation home stay through Expedia, Agoda or onefinestay
• Trip cancelation insurance that may reimburse you for your prepaid, non-refundable expenses in case you have to cancel your trip for a covered reason
• Hotel and motel burglary insurance that may reimburse you up to $1,500 per claim for personal property stolen or damaged from your hotel or motel room as a result of burglary by forcible entry
• Lost luggage insurance that may reimburse you up to $1,500 per claim for checked or carry-on luggage that is lost or damaged while traveling on a common carrier
• Baggage delay insurance that may reimburse you up to $250 per claim for the cost of essential items such as clothing and toiletries if your luggage is delayed in getting to your scheduled destination
• Purchase assurance that may reimburse you when an item you bought with your card is damaged or stolen within 90 days of purchase

Annual fee : $0 during the first year of account opening, then $0 for cardholders who have a qualifying U.S. HSBC Premier checking account relationship and $95 for cardholders who no longer have a qualifying HSBC relationship.

Is this card worth it? If you have a qualifying U.S. Premier checking account with HSBC, you might as well open the HSBC Premier World Mastercard credit card for its travel-related benefits and shopping benefits. But, if you aren't already an eligible HSBC customer, you may want to consider other travel credit cards with stronger earning rates and additional perks such as a Global Entry application fee credit .

Related reading: Best travel rewards credit cards

HSBC Premier World Elite Mastercard credit card: Best for premium travel rewards

Why this is the best for premium travel rewards : This card provides 3x earning on travel purchases , 2x earning on dining purchases and various travel and shopping benefits. You must have a qualifying HSBC Premier checking account to be eligible for this card.

Introductory offer : Earn 50,000 Rewards Program Bonus Points -- worth $750 in airfare when booked online through HSBC Rewards -- after spending $4,000 in the first three months of account opening.

Rewards rate : Earn 3x Rewards Program Points on travel purchases, 2x on dining purchases and 1x on all other purchases.

• Receive up to $100 in statement credits annually as reimbursement for air travel purchases charged to your card
• Receive up to $100 in statement credits annually for rides with Uber and Lyft
• Enjoy complimentary Lounge Key membership and get two free lounge visits per year. Additional visits are only $32 per person
• Get one Global Entry application fee statement credit or one TSA Precheck application fee statement credit every 54 months
• Enjoy complimentary unlimited premium Wi-Fi at over a million secure hotspots worldwide with Boingo. Get simultaneous access for up to four devices
• Price protection that may reimburse you when you purchase an item with your card and then see a printed advertisement or non-auction Internet advertisement for the same product at a lower price within 60 days from the date of purchase
• Extended warranty that may double the original manufacturer warranty up to a maximum of 24 months when you purchase an eligible item with your card
• Purchase assurance that may reimburse you when an item you bought with your covered card is damaged or stolen within 90 days of purchase
• Cellular wireless telephone protection that may provide reimbursement up to $800 per claim if your cellphone is stolen or damaged
• Earn $5 in Fandango rewards for every two movie tickets purchased

Annual fee : $395 plus $65 per authorized user

Is this card worth it? This card offers some perks that aren't commonly found on credit cards anymore such as Boingo Wi-Fi access and price protection . Plus, the card offers 3x earning on travel purchases as well as 2x earning on dining purchases and allows redemption for 1.5 cents per point when you book through HSBC Rewards. However, you'll need to have a qualifying HSBC's Premium checking account to get this card.

Related reading: Battle of the premium travel rewards cards: Which is the best?

How we chose the best HSBC credit cards

HSBC currently only offers six credit cards in the United States. And, only two of these cards are available to consumers without an existing HSBC relationship. So, in this guide we decided to analyze all six of the currently available HSBC credit cards and determine for whom each card might be best.

Benefits available on all HSBC credit cards

All of the currently available HSBC credit cards offer some basic benefits. In particular, you'll find the following perks available on all of the HSBC cards:

• Contactless-chip enable cards that allow you to tap and pay
• See your FICO score for free on your monthly statement
• MasterRental car rental insurance
• Travel accident insurance
• Mastercard ID theft protection that can provide identity theft resolution services
• Automatic enrollment in HSBC's fraud alert program
• Access to Mastercard global services which can assist with lost and stolen card reporting, emergency card replacement and emergency cash advance
• Access to Mastercard's Priceless Cities program which can provide exclusive access to more than 2,000 priceless experiences around the globe
• Access to Mastercard's Priceless Golf program which can provide exclusive access to iconic destinations and discounts on public tee times
• Access to Mastercard's airport concierge services including a discount on airport meet and greet services

Related reading: World Elite vs. World Mastercard: Benefits and value

HSBC Premier and Advance relationships

The HSBC Premier World Mastercard and HSBC Premier World Elite Mastercard require you to have an HSBC Premier relationship to apply, while the HSBC Advance Mastercard requires you to have an HSBC Advance relationship to apply. Here's what you need to know about both of these HSBC relationships.

HSBC Advance

With HSBC Advance, you won't need to pay any HSBC fees when using a third-party ATM and you can get up to four third-party ATM surcharge fees reimbursed per month. You'll also get access to preferred saving rates.

However, if you don't maintain a combined balance of at least $5,000 in your HSBC deposit and investment accounts, have a recurring direct deposit from a third party to an HSBC Advance checking account once per calendar month or have an HSBC U.S. residential mortgage loan, you'll need to pay a monthly maintenance fee of $25.

Related reading: The best checking accounts

HSBC Premier

With HSBC Premier, you won't have fees on everyday banking transactions, no HSBC ATM fees worldwide and unlimited third party ATM rebates within the U.S. You can extend your Premier status to up to four family members and you have automatic Premier status in all countries where you bank with HSBC affiliates.

However, to become an HSBC Premier client you must have at least $75,000 in total deposits and/or investments, have at least $5,000 in total direct deposits per month or maintain a U.S. residential mortgage loan with an original loan amount of at least $500,000. A monthly maintenance fee of $50 will be incurred if one of these requirements is not maintained.

Frequently asked questions about HSBC credit cards

What is the best hsbc credit card.

The best HSBC credit card is the HSBC Premier World Elite Mastercard credit card, due to its travel and shopping perks. But, this card requires you to have an HSBC Premier relationship, which may be difficult for many consumers. The best card for you depends on what factors you're looking for in a card.

Related reading: Best credit cards

Does HSBC have secured credit cards?

HSBC doesn't currently offer any secured credit cards. But, there are plenty of good secured credit cards offered by other issuers.

Is HSBC Gold Mastercard a good credit card?

The HSBC Gold Mastercard credit card can be a good option if you're looking for a no-annual-fee credit card that has a 0% introductory offer for purchases and balance transfers. But if you're looking to do a balance transfer , you may prefer a card with a lower or even waived balance transfer fee.

Is HSBC Premier World Elite Mastercard worth it?

If you have an HSBC Premier relationship and will take advantage of the HSBC Premier World Elite Mastercard's travel and shopping benefits, then the card can certainly be worth it. But, if you don't already have an HSBC Premier relationship, you may want to consider other premium travel rewards cards such as the Chase Sapphire Reserve or the UBS Visa Infinite Credit Card .

The information for the UBS Visa Infinite card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Are HSBC credit cards easy to get?

The HSBC Gold Mastercard and HSBC Cash Rewards Mastercard both allow potential applicants to check whether they're prequalified with just a soft credit pull . So, if you're worried about whether you'll be approved for an HSBC credit card, you may want to check whether you're prequalified for one of these cards.

Alternatively if you're a student you may want to consider the HSBC Cash Rewards Mastercard credit card Student Account since this card doesn't require any credit history. However, note that you need to have a consumer deposit relationship with HSBC to qualify for this card.

Can Wisconsin residents get an HSBC credit card?

Currently, all of the HSBC credit cards have a note in their Summary of Terms that states the offer is void in Wisconsin.

Related reading: The ultimate guide to credit card application restrictions

How do I pay my HSBC credit card?

You can pay your HSBC credit card using a checking account or savings account , by mail, by phone or by enrolling in autopay . Here's how to do each:

• Using an HSBC checking or savings account : Log-in to your HSBC account, select your credit card and click Move money
• Using a non-HSBC checking or savings account : Log-in to your HSBC account, select your credit card, click My Account, select Payments and then click Make a Payment
• By mail : Fill in the remittance stub and mail it along with your payment to HSBC Bank USA, N.A., PO Box 4657, Carol Stream, IL 60197-5255
• By phone : Call the number on the back of your credit card
• Enroll in autopay : You can enroll in EZ-Pay autopay by logging in to your HSBC account, selecting your credit card, clicking My Account, selecting Payments and then clicking Schedule EZ-Pay

Related reading: The right way to pay your credit card bills

Bottom line

HSBC offers six credit card products currently, although all but two of these products require an existing HSBC relationship. This means that most HSBC credit card products will be primarily useful to existing HSBC clients.

But, if you are looking for a no annual fee card with a 0% introductory APR offer on purchases and balance transfers, it may be worth checking whether you're prequalified for one of the two credit cards that are open to non-HSBC consumers.

• Book Travel
• Credit Cards

HSBC Travel Rewards Mastercard: A New No-Fee Travel Card

Today, HSBC is introducing a brand-new credit card: the HSBC Travel Rewards Mastercard .

Let’s take a look at the features of this new product, and how this entry-level card with no annual fee might be valuable for you.

New HSBC Travel Rewards Mastercard

The HSBC Travel Rewards Mastercard is the bank’s new no-fee credit card for travel rewards. The card earns HSBC Rewards points, the same travel points currency as its higher-fee variants, the HSBC World Elite Mastercard and the HSBC +Rewards Mastercard .

As a welcome bonus, new cardholders who apply before May 2, 2022 will earn 20,000 points upon spending $2,000 in the first six months (with no spending requirement for Quebec residents ).

You’ll earn rewards on everyday spending as follows:

• 3 HSBC Rewards points per dollar spent on travel (up to $6,000 spent per year)
• 2 HSBC Rewards points per dollar spent on gas and transit
• 1 HSBC Rewards point per dollar spent on other purchases

The welcome bonus and earning rates are similar to the card’s entry-level peers from other big banks with a no-fee card which earns an in-house rewards currency, such as the CIBC Aventura Visa Card , the TD Rewards Visa Card , or the RBC Rewards+ Visa , with slight variations on which merchant categories earn at bonus rates.

The HSBC Travel Rewards Card also has decent insurance coverage for a no-fee card. It offers purchase protection for 90 days, and extended warranty of double the manufacturer’s warranty up to one year – both common on no-fee cards.

In addition, you’ll be covered for trip interruption, baggage delay, and hotel burglary when you book travel arrangements with this card – the latter being particularly notable for a no-fee credit card.

Unfortunately, the card levies the industry-standard 2.5% FX fee on foreign transactions, keeping the popular No FX Fee benefit in the domain of the more premium HSBC World Elite Mastercard.

• Earn 3 x HSBC Rewards points on eligible travel expenses *
• Redeem against travel purchases charged to the card *
• Annual fee: $0

How to Use HSBC Rewards Points

HSBC Rewards are one of our favourite points currencies because they’re very easy to use. You don’t have to book through their travel portal – instead, you can simply pay for any travel expense with your credit card, and later apply your rewards as a statement credit to cover the expense.

Used this way, HSBC Rewards have a fixed value of 0.5 cents per point (cpp), or 200 points = $1. Effectively, this means you’ll earn 1.5% back on travel purchases, 1% back on gas and transit, and 0.5% back on everything else with the new HSBC Travel Rewards Mastercard.

With the higher-tier HSBC World Elite and +Rewards cards, points can also be transferred to three airline partners: British Airways Avios , Cathay Pacific Asia Miles , and Singapore KrisFlyer . However, this option isn’t available with the HSBC Travel Rewards Card, so the fixed value of 0.5cpp is the only meaningful way to redeem points for travel.

Lastly, note that you’ll need a minimum of 25,000 HSBC Rewards points in order to redeem for anything. With the welcome bonus of 20,000 points from the HSBC Travel Rewards Mastercard, you’ll need to top-up with some further spending before you’ll be able to put your points to a good use.

The HSBC Credit Card Portfolio

Long-term, as a card with no annual fee, the HSBC Travel Rewards Mastercard would be a good downgrade option if you are thinking about cancelling your HSBC World Elite Mastercard or HSBC +Rewards Mastercard but want to keep your points alive or preserve an old credit account .

However, either of the higher-tier cards would be a better choice for a new signup if you qualify for them, with larger welcome bonuses and a first year annual fee waiver on both products.

After that, you can reevaluate the value proposition in the second year, and consider switching to the no-fee HSBC Travel Rewards Card. 

While the HSBC World Elite Mastercard is one of my favourite cards in Canada, it has always stuck out like a sore thumb in that it’s long been the only compelling card offered by a rather large bank. With a new basic travel credit card in the market, HSBC is less looking to make a splash, and more looking to round out their portfolio.

Ultimately, while the HSBC Travel Rewards Mastercard fills a useful supporting role, it isn’t remarkably inspiring for a savvy points collector.

The card offers a modest welcome bonus with comparable earning rates for those who are seeking a basic travel rewards credit card, while bringing a long-awaited no-fee downgrade option for longtime cardholders who may be looking to retire their World Elite card. 

*Terms and Conditions apply

®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.

I have the HSBC WEM and they changed the online banking site. I used to be able to have the option to redeem/use travel rewards but now with the new updated site, I don’t know where to find it!

You cannot transfer the HSBC Rewards from this card out to airline partners…Which further pushes this card into a niche role.

It is one of the stronger no-fee cards on the insurance side, but if you’re trying to min-max with one A/M/V, it’s not clear why you’d take this over other no-fee Mastercards if you’re not already in bed with HSBC.

Does HSBC product switch yield sign up bonus? I have the HSBC WEM…wouldn’t mind downgrading now that im into second year…have not been able to use the points so that alone is great, but getting an extra 20,000 points would be bonus!

I’m in the same boat as you, my WEM renewed last November for it’s second year. I just called in to either cancel and get my prorated annual fee back, or PS to Travel Rewards. The rep waived my annual fee for this year, and said that the 20k welcome bonus only applies to new accounts, so you won’t get the points from downgrading the WEM

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Prince of Travel is Canada’s leading resource for using frequent flyer miles, credit card points, and loyalty programs to travel the world at a fraction of the price.

Join our Sunday newsletter below to get weekly updates delivered straight to your inbox.

Have a question? Just ask.

Business Platinum Card from American Express

120,000 MR points

American Express Aeroplan Reserve Card

85,000 Aeroplan points

American Express Platinum Card

100,000 MR points

TD® Aeroplan® Visa Infinite Privilege* Card

Up to 85,000 Aeroplan points†

Latest News

Air Canada Pauses Changes to Seat Selection Policy at Check-In

News Apr 26, 2024

Amex Aeroplan Reserve Status Offer: Earn Extra eUpgrades and SQM

Deals Apr 25, 2024

The Beginner’s Guide to TD

Apr 24, 2024

Recent Discussion

Canada’s 10 best overall credit cards, aeroplan elite status: guide to qualifying and privileges, mr & mrs smith properties now bookable through hyatt channels, rbc changes earning rates on the rbc® british airways visa infinite†, prince of travel elites.

Points Consulting

HSBC Travel Rewards Mastercard® Review

• Rates & Fees

$0 Annual Fee

20.99% Purchase APR

22.99% Cash Advance APR

22.99% Balance Transfer Rate

2.50% Foreign Transaction Fee

Good Recommended Credit Score

$0 Required Annual Personal Income

$0 Required Annual Household Income

By Tom Blake

The HSBC Travel Rewards Mastercard ® is a no annual fee credit card that earns points for travel purchases and everyday spending. For budget-conscious domestic travellers, it’s a decent rewards card to have in your wallet. However, frequent international travellers, or those who value the flexibility to redeem their points on non-travel purchases, should consider alternative rewards cards.

Pros and cons

No annual fee

Low-barrier welcome bonus

Earns a lot of points on travel purchases

Decent travel insurance for a no annual fee card

$6K annual spending cap for the highest points earning rate

Non-travel redemptions get less impressive value per point

Charges foreign transaction fees

Welcome bonus

You can get 20,000* bonus  HSBC Rewards points , worth $100 in travel value*, if you apply for the HSBC Travel Rewards Mastercard® and make $1,000 in purchases within your first 60 days. Conditions apply. Offer valid for non-Quebec residents only. Quebec residents are eligible for a different offer.

Note that this welcome offer is only available to new HSBC Travel Rewards Mastercard ® applicants who haven’t held this card within the last 12 months.

Earning rewards

The HSBC Travel Rewards Mastercard ® earns rewards points at different rates for eligible purchases in different purchase categories:

• Travel: 3 points for every $1 spent*
• Gas and daily transit: 2 points for every $1 spent*
• (Almost) Everything else: 1 point for every $1 spent*

Eligible travel purchases include purchases from airlines, car rentals, hotels, cruises, railways, tour operators, timeshares, cottages, campgrounds and travel agencies. As for gas and daily transit, eligible purchases include service stations, taxis, bus lines, commuter passenger fees and ferries.

The 3 points per $1 rate applies on up to $6,000 of travel spending per calendar year*. After exceeding $6,000 in travel purchases you’ll earn at the base rate for your travel purchases—1 point for every $1 spent*—until a new calendar year starts. This is a reasonable spending cap for a no annual fee rewards card; those who exceed $6K in annual travel spending should likely pay an annual fee for a higher-end travel card with more comprehensive benefits.

Redeeming rewards

Points appear in your HSBC Rewards account within five business days following a qualifying purchase. From there, you can redeem your points for the following:

• HSBC rewards: Pay off part of your HSBC Travel Rewards Mastercard ® statement balance, pay down your HSBC mortgage, or convert points into an HSBC savings account deposit.
• Shopping rewards: Redeem for free gift cards from popular retailers like Amazon.ca, Best Buy, and Walmart. You can also redeem for merchandise across categories like electronics, fashion, health, kitchen, and sports, from well-known brands like Apple, Bose, and Coach.
• Travel rewards: Redeem points against your card purchases of airline tickets, vacation packages, car rentals, and other travel-related spending. This option applies to purchases with any travel agent, airline, or travel website, including discounted travel purchases. Points are also transferable to certain frequent flyer programs, like British Airways.

Redeeming rewards points for travel gets the best value per point possible. If you make $5,000 in travel purchases you’ll earn 15,000 points, which can be redeemed for travel rewards worth $75. This gives each point a maximum of $0.005 in redemption value, and yields a 1.5% return on your travel spending.

The value you get for your points varies for other redemption paths, but will always be worth less than what you get when redeeming for travel. Gift cards, HSBC savings account deposits, and non-travel statement credits usually get $0.003 per point redeemed, and redemptions against your mortgage balance have a $0.004 value per point.

Redeeming different merchandise and gift card rewards require different amounts of points depending on the gift card or item you want. You can check the redemption requirements when browsing your HSBC Rewards account. Note that paying off statement credits requires at least 5,000 points; if you’re redeeming for merchandise, you need to use points for at least 80% of the redemption amount.

Points don’t expire unless you cancel your account. You don’t get a post-cancellation grace period to use points, so if you decide to cancel, make sure you spend your points beforehand.

Insurance coverage

Travel credit cards that don’t charge an annual fee typically won’t provide insurance coverage of note. But the HSBC Travel Rewards Mastercard ® stands out in that it comes with several built-in travel insurance benefits, and also offers the option of additional travel coverage for purchase.

Paying for the optional travel medical and trip cancellation insurance is likely a worthwhile investment, as buying 17 days of à la carte travel medical and trip cancellation coverage from a travel insurer will likely cost at least $60 or so, and that’s just for one trip. The optional insurance for the HSBC Travel Rewards Mastercard ® can be used repeatedly throughout the year for the $69 fee.

Related :  Best credit cards for travel insurance

Interest rates and fees

• Purchase Interest Rate:  20.99%
• Cash Advance Interest Rate:  22.99% (if you reside in Quebec 21.99%)
• Balance Transfer Interest Rate:  22.99% (if you reside in Quebec 21.99%)
• Foreign Transaction Fee:  2.5%
• ATM fees:  $2 in Canada and $4 outside Canada
• Over Credit Limit Fee:  $29 (does not apply for Quebec residents)
• Dishonoured payment or cheque:  $25 (does not apply for Quebec residents)

Since it doesn’t charge an annual fee, the HSBC Travel Rewards Mastercard ® is a good middle-ground option if you don’t travel enough to justify paying for a premium travel credit card. However, paying 2.5% in foreign transaction fees makes the HSBC Travel Rewards Mastercard ® less than ideal for spending while on international trips. A smart approach to the card is to use it for booking travel expenses before you head for overseas travel, so that you can rack up the points without paying extra fees. While you’re on an overseas trip, it’s better to spend with cash or to use a  no foreign transaction fee credit card .

The  Home Trust Preferred Visa  is an example of a more international-friendly card, as this card doesn’t charge an annual fee or foreign transaction fees. Alternatively, if you do a lot of international travel, it might make sense to spend $149 per year on the  HSBC World Elite ® Mastercard ® , which will allow you to amass more rewards points while simultaneously avoiding foreign transaction fees.

Eligibility requirements

You must be a Canadian resident and the age of majority in your province to apply for the HSBC Travel Rewards Mastercard ® . HSBC doesn’t make its credit score preferences public, but you’ll likely be approved provided you have an average or higher  credit score , given that this is a no annual fee card with no income requirement.

HSBC EasyID is used to complete your application online, for which you must provide your passport, driver’s license, or provincial government-issued ID to verify your identity.

How does it compare to the competition?

The HSBC Travel Rewards Mastercard ® has a lucrative sign-up bonus and allows cardholders to amass a lot of points on travel spending. But other cards might allow you to earn more points on your non-travel spending, and the value that HSBC Rewards points get when they’re redeemed falls short compared to competing travel rewards programs/cards as well.

If you want to earn points across a wider array of spending categories, the  MBNA Rewards Platinum Plus ® Mastercard ®  might be a better choice than HSBC. It’s a great fit if you spend a lot of money on groceries, or if you can charge major utilities (like electric or heat) to your credit card. The points you earn get decent value when they’re redeemed, at one cent per point for travel redemptions and half a cent per point for redemptions against non-travel charges on your card statement.

The American Express ® Green Card earns less points overall than either the HSBC Travel Rewards Mastercard ® or the MBNA Rewards Platinum Plus ® Mastercard ® , but that’s balanced out by the exceptional value you get for  Amex Membership Rewards ® points . For example, when redeemed for a short-haul flight via the Fixed Points Travel Program, Amex points are worth $0.02 each—four times the maximum value for HSBC Rewards points. Non-travel redemptions get great value as well, as Amex points can be redeemed for one cent each against any purchase on your card statement.

‡ , †† , ✪ , ***, Terms and Conditions apply.

MBNA Rewards Platinum Plus ® Mastercard ® offer is not available for residents of Quebec. For residents of Quebec, please click  here .

Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.

The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ® MBNA and other-trademarks are the property of The Toronto-Dominion Bank.

Should you apply for the HSBC Travel Rewards Mastercard ® ?

Overall, earning points on travel spending is the main strength of the HSBC Travel Rewards Mastercard ® . If you’re looking for a fairly comprehensive travel rewards card and you refuse to pay an annual fee, it won’t hurt to try the card out. But keep in mind that if you spend over $6,000 per year on travel, the points-earning potential for this card falls off.

For frequent international travellers, paying for a premium travel card like the  HSBC World Elite ® Mastercard ®  makes more sense, provided you meet its income requirements. Conversely, if you travel only occasionally, it might make more sense to go for a rewards card that gives you better value for spending and redeeming on everyday, non-travel purchases.

Related articles:

• Best no annual fee credit cards
• Best travel credit cards
• Best travel rewards programs in Canada

*Terms and Conditions apply.

® / TM Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.

HSBC Bank Canada is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information.

About our author

Tom Blake is a personal finance blogger originally from Burlington, Ontario. His work has featured in Business Insider, Frugal Rules, MoneyCrashers, and a number of other financial blogs. When he's not in Canada Tom lives as a digital nomad, writing from locales like Colombia and Dubai. You can connect with Tom at his blog This Online World.

Latest Articles

Bidders express interest in buying all or part of SaltWire newspaper business

Planning a summer trip to Quebec's Îles-de-la-Madeleine? You'll have to pay up.

Globe wins seven newspaper awards; CP recognized for CSIS investigation

Orca's escape from B.C. lagoon will be talked about for 'generations,' say nations

A list of NNA winners and finalists; Globe and Mail nabs seven

Cap on plastic production may be too complicated for global treaty: Guilbeault

The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.

HSBC Platinum Mastercard with rewards review

Written by: Kelly Dilworth

• Balance Transfer
• Low Interest

In a Nutshell:

This low earnings rewards credit card charges a pricey fee for transferring a balance and only gives cardholders 12 months to take advantage of its interest-free promotion.  This offer is no longer available on our site.

Other Notable Features: No foreign-transaction fee, travel assistance, roadside assistance, zero fraud liability, identity theft resolution services

While the HSBC Platinum Mastercard can help save money with its low APR and 0-percent introductory offer, you’ll need to be especially careful to stay on top of your payments due to its exorbitant penalty APR.  This offer is no longer available.

With an anemic rewards rate and a middling APR, the HSBC Mastercard ranks near the bottom of our list of travel cards.  This offer is no longer available.

Note: The issuer is no longer accepting new applications for this card

You’re unlikely to get far with this low-earning rewards card. By awarding cardholders just one point for every dollar spent, the HSBC Platinum Mastercard ensures cardholders will have to wait months – and possibly even years – before they earn enough points to fund a round-trip flight in the U.S. To earn a free foreign flight, you have to be a heavy spender.

Unlike most travel rewards cards , the HSBC Mastercard doesn’t offer any spending bonuses, making it tough to accumulate a large number of points in a reasonable period. The HSBC Mastercard does offer a modest sign-up bonus, making it easier to fund a domestic flight in the card’s first year. But you still have to spend a significant amount to get there. It also offers a little more flexibility with redemption than the average travel card; for some travelers, that can help make up for the card’s less-than-thrilling rewards.

Uncommonly low earnings

Most of the travel rewards cards reviewed by CreditCards.com help cardholders boost rewards totals by offering bonuses on certain types of spending. The few cards that don’t offer such generous rewards rates help make up for it by charging competitive APRs that are well below average for a travel card.

By contrast, the HSBC Platinum Mastercard offers an uncommonly low rewards rate that gives cardholders just one point for every dollar they spend. However, HSBC still makes cardholders pay for those rewards with a relatively high APR. If you have good credit and are looking for more generous rewards with your spending, you can almost certainly do better with another card.

Middling APR

The HSBC card’s minimum APR of 14.99 percent is slightly below average for a rewards credit card. The typical rewards card charges cardholders an APR around 17 percent. But most rewards cards that charge a comparable APR offer significantly more benefits. Meanwhile, the card’s 24.99 percent maximum APR is on the high side for a rewards credit card, making it a riskier choice for cardholders with lower scores. If you can’t afford to repay your debt in full with this card, you can wind up paying far more in interest than you ever earned with rewards.

Almost no benefits

The HSBC Platinum Mastercard also doesn’t offer very many cardholder benefits, making it even harder to justify the card’s higher APR. Unlike most mainstream credit cards, the HSBC Platinum Mastercard doesn’t offer any travel insurance coverage, such as rental car insurance or lost luggage insurance. Nor does it offer many other coveted extras, such as concierge service. The HSBC card does offer travel assistance for cardholders who need extra help while on the road and it scores points with frequent travelers by waiving the card’s foreign-transaction fee. But it doesn’t offer any other unique benefits that can’t be found on less expensive cards.

More flexibility for travel purchases

Flexible redemption is the most appealing perk offered by the HSBC Platinum Mastercard. Unlike most travel cards, HSBC allows cardholders to shop around for cheaper travel and purchase a rewards-funded ticket through another travel website. This can potentially allow cardholders to squeeze more value from their rewards earnings by allowing them to use rewards for less expensive travel. By contrast, many competitors lock cardholders into higher prices by requiring them to redeem rewards-funded travel through the issuer’s site.

The HSBC Platinum Mastercard doesn’t restrict cardholders’ travel dates either, making it less of a pain to book a hotel or flight. However, HSBC does require you to book travel at least 21 days ahead, so you can’t use the points for any last-minute trips

Why get the HSBC Platinum Mastercard?

• You want a flexible travel rewards card that doesn’t restrict travel dates and allows you to book your ticket elsewhere.
• The HSBC offers the lowest APR you can get on a rewards card.
• You already have a relationship with HSBC bank and want a card with the same bank.

How to use the HSBC Platinum Mastercard:

• To maximize the value of rewards points, shop around for less expensive travel.
• Plan ahead when using HSBC points for travel. You need to make plans at least three weeks in advance.
• Try to pay off purchases in full to avoid paying relatively high interest.

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

CreditCards.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which CreditCards.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. CreditCards.com does not include the entire universe of available financial or credit offers. CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.

Know your odds before you apply

• Enter your information
• We’ll run a soft credit pull, which won’t impact your credit score
• You’ll see your estimated approval odds near cards to help you narrow down your options

Your personal information and data are protected with 256-bit encryption.

Tell us your name to get started

We’ll use this information to to verify your credit profile.

What’s your mailing address?

What's your employment status?

Your answer should account for all personal income, including salary, part-time pay, retirement, investments and rental properties. You do not need to include alimony, child support, or separate maintenance income unless you want to have it considered as a basis for repaying a loan. Increase non-taxable income or benefits included by 25%.

Put $0 if you currently don't have a rent or mortgage payment.

Last four digits of your Social Security number

We’ll use the last four digits of your Social Security number to get your approval odds. This won’t impact your credit score.

What’s your email address?

Your email address unlocks your approval odds. Don’t worry, we won’t spam your inbox.

By clicking "See my odds" you agree to our Terms of Use (including our Prequalification Terms ) and Privacy Policy . These terms allow CreditCards.com to use your consumer report information, including credit score, for internal business purposes, such as improving the website experience and to market other products and services to you. I understand that this is not an application for credit and that, if I wish to apply for a credit card with any participating credit card issuer, I will need to click through to complete and submit an application directly with that issuer.

Calculating your approval odds

Oops something went wrong..

We’re sorry, but something went wrong and we couldn’t find your approval odds. Instead, you'll see recommended credit ranges from the issuers listed next to cards on our site.

Our website doesn't support your browser so please upgrade.

Premier Mastercard

Online credit card applications temporarily unavailable

While we update our credit card application process, you won’t be able to apply online. You can still apply for new cards on the phone via your Relationship Manager. We're unable to accept applications for supplementary cards online or over the phone.

If you have any generic queries you can also call us on  +44 1534 616 313 .

Enjoy a world of benefits and rewards

The Premier Mastercard gives you access to a world of travel benefits and privileges – including worldwide assistance, Priority Pass airport lounge access, and rewards when you spend. And all for no annual fee.

Representative example

Representative 18.9% APR

Purchase rate 18.9% pa

Based on an assumed credit limit of GBP 1,200

Why choose a Premier Mastercard?

0% interest introductory offer

Get 0% interest on purchases for 9 months and 0% interest on balance transfers for 18 months.[@balancetransfer]

Exclusive offers

Enjoy travel benefits and earn rewards.

No annual fee

All the benefits you'd expect with no annual fee.

Premier Rewards Programme

Earn points when you spend to redeem on shopping or travel. T&Cs apply . 

• Earn 1 point for every GBP 1 spent in sterling in the UK, offshore and overseas, and earn 2 points for every GBP 1 you spend in eligible non-sterling currency.[@sterlingtransactions]
• How you redeem your points is up to you, choose from a range of rewards including shopping vouchers for stores like Amazon and Boots, or even donating your points to charity
• Every 2 points are worth the equivalent of 1 Frequent Flyer Mile. Simply redeem with our selected partner airlines and you could be jetting off to your favourite destination. T&Cs apply
• View our Premier Credit Card Rewards programme   View our Premier Credit Card Rewards programme This link will open in a new window

Travel benefits

Access discounts on hotels and Priority Pass airport lounge access.

• 10% discount on selected hotels booked with your card through Expedia
• 12 months complimentary Expedia+ Gold membership
• 10% discount on over 180,000 hotels booked with your card through Agoda
• Access to over 750 airport lounges worldwide with Priority Pass

Online account management

Suit yourself with round-the-clock online or phone access.

• Manage your account day to day - check real-time statements, report a lost or stolen card or block it temporarily, activate cards, make payments
• Redeem Premier Points
• Register and add your card to Global View to see your global HSBC accounts in one place
• Register for online banking  

Your Premier Mastercard also comes with

• Contactless Pay for items worth GBP 100 or less with a single tap.
• Additional free cardholder Get an additional card for free.
• Up to 56 days interest-free Get up to 56 days interest-free on purchases when you pay your balance in full on time.
• Withdraw up to GBP 1,000 cash per day Take out up to GBP 1,000 for a fee of 2.99%[@cashwithdrawal]

Things to know

Who can apply.

You can apply for a Premier Credit Card if you're:

• an HSBC Expat Premier customer
• aged 18 or over

All credit applications are subject to status, our lending criteria and an assessment of the circumstances of the applicant.

Minimum credit limit GBP 500. Maximum credit limit subject to status.

Important documents 

• Premier Credit Card Terms & Conditions (PDF) Premier Credit Card Terms & Conditions (PDF) Download

Ready to apply?

Already with expat.

Contact your Relationship Manager directly or call us on +44 1534 616 313 to schedule an appointment with your Relationship Manager.

New to Expat?

You can apply for a Premier Credit Card once you've opened an Expat Bank Account with us.

You might be interested in

Premier world elite mastercard.

A Premier credit card with rewards at home and abroad.

HSBC Credit Card

The HSBC Credit Card is a GBP card accepted at over 24 million locations around the world.

Additional information

Disclaimer .

Credit cards are provided by HSBC Bank plc, which is authorised by the Prudential Regulatory Authority and regulated by Financial Conduct Authority and the Prudential Regulatory Authority. HSBC Bank plc, Card Services, PO Box 6001, Coventry, CV3 9FP, United Kingdom.

Connect with us

Our website doesn't support your browser so please upgrade .

Premier World Elite Mastercard

Designed for the dedicated traveller - exclusive to existing hsbc premier (including retained jade benefits) and private banking account customers, representative example.

Purchase rate 18.9% p.a. (variable)

Representative 59.3% APR (variable)

Based on an assumed credit limit of £1,200

With an annual fee of £195

Key benefits

Welcome reward points

Receive 40,000 reward points when you spend 1 £2,000 on your card in the first 90 days of card membership.

Anniversary reward points

Spend £12,000 or more on your card within your first 12 months of membership to receive a further 40,000 reward points at the anniversary 2 of card membership.

Earn rewards on purchases

For every £1 of eligible spend 1 you’ll earn 2 reward points if it’s in sterling 3 , or 4 reward points if it’s in another currency 4  (fees apply to non-sterling transactions).

Your Premier World Elite Mastercard also comes with

• Airport lounge access Get access to more than 1,300 airport lounges worldwide with Priority Pass . Just show your Premier World Elite Mastercard at the lounge door.
• Mastercard Priceless Access unforgettable experiences and everyday value in the cities where you live and travel with Mastercard Priceless .
• Use your credit card abroad You can use your HSBC credit card in all countries and regions supported by the Visa and Mastercard networks. Fees apply , and non-HSBC cash machines may also charge a fee.
• Additional cardholders Get additional cards for up to 3 members of your family, or friends. Fees apply (refunded for Private Banking Account customers).
•   Additional cardholder information Additional cardholder information Opens in overlay
• Enjoy 24/7 worldwide assistance Help is at hand if your card is lost or stolen.  Call our dedicated support team  about getting an emergency cash advance.
• Purchase protection Section 75 protects credit card purchases of £100 to £30,000 if the supplier breaches a contract, or misrepresents goods.
• No-fuss card management Use online banking or the HSBC Mobile Banking app to check your balance, make payments, freeze your card, and stay in control.
• Go digital All HSBC credit cards are contactless and can be used with a  digital wallet . For immediate access to spending, you can add your card to Apple Pay or Google Pay directly from the HSBC UK Mobile Banking app before your new card arrives.

Things to know

Who can apply.

You can apply for a Premier World Elite Mastercard if you:

• are over 18
• are a UK resident
• hold an  HSBC Premier Account

Important documents

• Summary Box (PDF, 144KB) Summary Box (PDF, 144KB) Download
• Privacy Notice (PDF, 638KB) Privacy Notice (PDF, 638KB) Download
• Standards of Lending Practice (PDF, 1.12MB) Standards of Lending Practice (PDF, 1.12MB) Download
• Premier World Elite Mastercard Terms & Conditions (PDF, 234KB) Premier World Elite Mastercard Terms & Conditions (PDF, 234KB) Download
• Reward Programme Rules (PDF, 261KB) Reward Programme Rules (PDF, 261KB) Download

Ready to apply for a Premier World Elite Mastercard?

Existing customers.

On your mobile device? If you've downloaded our app and have an HSBC Premier account, you can apply now by selecting 'Apply in app'.

If you're on a desktop, scan the QR code with your mobile device.

More ways to apply

Apply in browser .

If you have an HSBC Premier account and you're registered for online banking, you can start your application right away. You'll be able to see your pre-filled application form, submit it, and get an instant decision.

• Register for online banking  

Apply in branch 

t’s usually easiest to apply through the app or online banking, but if you need support you can visit one of our branches and we’ll help you with your application.

Please bring your mobile phone with you (or a similar device, like a tablet) if you have one.

• Find your nearest branch  

New to the UK?

We may be able to access your international credit history in selected countries to help you apply for an HSBC UK credit card.

• Find out about credit cards for international customers  

Frequently asked questions

What is a world elite mastercard .

The Premier World Elite Mastercard is our most sophisticated card, offering double reward points and enhanced travel benefits.

How do reward points work on a World Elite Mastercard? 

You can redeem these reward points for retail e-vouchers, airline miles and fine wines. You'll also earn welcome and anniversary points with the Premier World Elite Mastercard.

Does a World Elite Mastercard have airport lounge access? 

The HSBC Premier World Elite Mastercard allows you unlimited access to more than 1,300 airport lounges worldwide with membership of the Priority Pass programme.

You might also be interested in

Not the right card for you.

Discover our range of credit cards and find the one that matches your needs.

Reward points

Find out how your rewards credit card can pay you back.

Credit card rewards explained

Get to know what a reward credit card can offer you, and how much it could cost you to use one.

How to avoid credit card charges

Get to know the different types of credit card charges and how you can reduce the amount you pay.

Standards of Lending Practice

HSBC adheres to the standards of lending practice guidelines.

Additional information

1.  Eligible spend excludes cash advances, fees, balance transfers, cheques, refunds, interest or any other charges.

2. To get these anniversary bonus points on your Premier World Elite Mastercard, you need to make £12,000+ worth of eligible spending over 12 months from the date you opened your account.

3. Sterling currency includes transactions made in the UK, Jersey, Guernsey and Isle of Man as well as transactions overseas where you choose to pay in sterling rather than local currency.

4. These transactions are subject to a non-sterling transaction fee, currently 2.99% of the amount of the transaction.

Balances can’t be transferred from all cards, for example those issued by members of HSBC Group, including HSBC UK, first direct and M&S Bank.

If you have an HSBC UK credit card, you’re eligible to apply for another if you haven’t applied for an HSBC credit card within the past 6 months, and the card isn’t the one you currently have.

Please note, if you currently hold a Student or Premier World Elite Credit Card with us, you will not be eligible for this card.

Customer support

Please be aware of scammers that pretend to be from HSBC. Scammers may ask you for security codes over the phone or via text messages. They might try to contact you in the same text message thread that has legitimate messages from HSBC. Never share your log on credentials or authorisation codes with anyone, such as codes to register your device for mobile banking, to verify your identity, or to authorise a transaction. Contact us now if you are worried about fraud on your account, or to learn more about common types of fraud or scams.

• Online Banking
• HSBC Invest

HSBC Premier World Mastercard

Spending just got more rewarding

With an HSBC Premier World Mastercard, you can choose to earn Rewards Plus or Qantas Points. The perks continue at home and away, with no annual fees, exclusive discounts, complimentary travel insurance, and so much more. 

• Unlock premium benefits and perks from your chosen rewards program, with no annual fees
• Get 0% pa interest on balance transfers for 12 months[@cards-balance-transfer-offer] (2% balance transfer fee applies)[@cards-2-percent-balance-transfer-fee]
• Share the benefits with those close to you, with no additional cardholder fees[@additional-cardholder]

Rates and fees

Annual fee $0 

Interest-free period on purchases Up to 55 days[@cards-up-to-55-days] 

Interest rate for purchases 19.99% pa 

What you get with an HSBC Premier World Mastercard

Say goodbye to annual fees

Earn rewards your way

Save with Agoda and Expedia

Enjoy bespoke airport experiences

Your card, your choice.

Choose the rewards program that works best for you.

Rewards Plus

The HSBC Rewards Plus program lets you earn points and transfer them to other airline reward programs, or redeem for cashback or gift cards

• Earn 1.5 Rewards Plus points per $1 spent on eligible purchases, up to $120,000 spent per year [@cards-rewards-plus-points]
• Redeem your points for cashback, gift cards, or travel

Qantas Rewards

Your Qantas Points will take you where you want to go.

• Earn 1.5 Qantas Points per $1 spent on eligible purchases, up to $120,000 during the first 12 months of your account, and 1 Qantas Point per $1 in subsequent years [@cards-premier-qantas-points]
• Unlock bespoke offers from 27,000 local and global retail partners with our home&Away Privilege Program [@accounts-homeaway]

Get even more with your Premier World Mastercard

• Complimentary travel insurance Get domestic and international travel insurance with rental vehicle excess insurance in Australia, transit accident insurance, extended warranty insurance, and purchase protection insurance[@cards-complimentary-insurance]
• Airport lounge passes Travel in style with 2 airport lounge passes every year with Mastercard Travel Pass, provided by DragonPass[@cards-loungekey-mastercard]
• My Card Controls Use My Card Controls to help keep your spending safe with transaction limits and the ability to lock or unlock your card.
• HSBC Instant Savings Discover over 4,500 ways to save when you get the HSBC Instant Savings app – learn more [@cards-instant-savings-tnc]

Card fees and features

What you need to know, card tradeoffs.

Compared to the HSBC Low Rate Credit Card, the HSBC Premier World Mastercard has a:

• Higher purchase interest rate
• Higher overseas transaction fee

Compare our credit cards

You can find out more about our credit cards and compare them with the HSBC Premier World Mastercard Credit Card -  compare our credit cards .

Are you eligible?

To apply for an HSBC Premier World Mastercard, you'll need to:

• Have HSBC Premier customer status in Australia
• Earn at least $75,000 per year
• Have a good credit rating You may need to provide some identification and proof of address, income and employment to apply.

Important information about your card 

•   Terms and conditions for HSBC credit cards Terms and conditions for HSBC credit cards Opens in overlay
• Key Facts Sheet (PDF, 140.8kB) Key Facts Sheet (PDF, 140.8kB) Download

Ready to get started?

New to hsbc.

If you've never banked with us before, you can leave us your details and we'll get back to you about your HSBC Premier World Mastercard Credit Card in 2 business days. We recommend using the latest version of Chrome or Safari to do so. It takes 10 minutes and you'll get an instant response.

Existing HSBC customers

If you're already an HSBC Premier customer, you can call us on  1300 301 168  or on + 61 2 9005 8192  (if you're overseas) – our lines are open 24/7. You can also enquire about this credit card via online banking.

If you're an HSBC customer but you don't have a Premier account yet, you'll need to  apply for HSBC Premier  before you get this credit card.

Other ways to apply 

If you'd prefer to apply over the phone or in person, or if you need additional support with your application, please call us on 1300 131 605 or on + 61 2 9005 8114 (if you're overseas). Our lines are open from Monday to Friday, 8am to 8pm (AEST). You can also visit your local branch .

You might also be interested in

Hsbc star alliance credit card  .

Unlock a world of benefits with the ultimate travel credit card 

HSBC Platinum Qantas Credit Card  

Hsbc premier  , important information.

Credit provided by HSBC Bank Australia Limited ABN 48 006 434 162 AFSL and Australian Credit Licence 232595.

Available to new, approved customers who apply for the HSBC Premier World Mastercard. HSBC may change or end this offer at any time.

Fees, charges, terms, conditions and HSBC's lending criteria applies to all credit cards issued by HSBC. Go to  www.hsbc.com.au  or call  1300 308 880 . Interest rates are valid at the time of publication and are subject to change. See terms and conditions for more information.

This website is designed for use in Australia. The products and services represented within this website are intended for Australian Residents.

Fraud warning

Please be cautious of any special offers you see on social media or via messages, and avoid opening links or downloading any apps you receive from these sources inviting you to register to benefit from special offers. These links or apps may contain malware that can take over your phone. Please also refrain from inputting your account information, passwords or any other personal information into such apps or websites. Learn more .

We use cookies to give you the best possible experience on our website. For more details please read our cookie policy . By continuing to browse this site, you give consent for cookies to be used.

Our website doesn't support your browser so please upgrade.

• HSBC Malaysia online banking

HSBC Premier Travel Mastercard Credit Card

Earn 1.1 Air Miles for every RM1 overseas spend

By Invitation only

Ideal for frequent flyers

HSBC Premier Travel Credit Card, the best companion for your overseas travel with air miles rewards.

eWelcome pack (PDF)

By invitation only

Eligibility:

Exclusively for HSBC Premier Elite account holders. A primary cardholder must be at least 21 years old with a minimum RM3,000,000 in total relationship balance with HSBC.

Apply online today and enjoy an online exclusive sign-up offer

At a glance.

• 1.1X Air Miles on all overseas spend 1
• 1X Air Miles for every RM4.00 local spend
• Complimentary access to Plaza Premium Lounges worldwide 2 Get away from the hustle and bustle of a busy airport and relax whilst you enjoy a range of refreshments, newspapers, television and business facilities.
• Enjoy Global Data Roaming by Flexiroam in over 150+ countries 3 Including redemption of one free 3GB 10-day Global Data Roaming pass per eligible card, per calendar year, and a 15% discount on future data plans. Learn more .
• Get free unlimited access to Digital Health services 4 Experience free consultation via Video Teleconsultations by Doctor Anywhere and Digital Health Assistant by Medi24 24/7. Register here .
• 1% contribution 5 on Charity Spend When you make a donation to any cause with your HSBC Credit Card, we will contribute 1% to our supported charities.
• This HSBC Credit Card is now made from 100% recycled plastic
• Enjoy added peace of mind when you shop online with an HSBC Premier Travel Mastercard now 6 The e-Commerce Protection insurance by Mastercard provides you with worldwide coverage and reimbursements of up to USD200. Find out more on the Mastercard website .
• Enjoy savings with Expedia and Agoda 7 Enjoy 10% 7   discount on  Expedia hotel bookings  and 7% 7  discount on  Agoda hotel bookings  other than Air Miles rewards.
• Travel rewards : shop at key destinations around the world and enjoy cashback offers and discounts from both in-store and online merchants across over 25 countries –  Find out more 

Enjoy 50% off green fees at 42 golf clubs and golf lessons at 1 participating golf academy in Singapore – Book now . Terms & Conditions apply.

Valid until: 15 January 2025

Card Privileges

Premier Junior Savers Account   8

Convert Air Miles to cashback into Premier Junior Savers Account

Premier SmartPrivileges   9

Indulge in exclusive deals and special VIP treatments from us while enjoying great savings at more than 2,000 shopping outlets nationwide with your HSBC Premier Travel Mastercard. With new and exciting offers every month, you'll be spoilt for choices.

Reward Redemption   10

Explore the extensive Premier Travel Rewards Catalogue, with wide selection of items at great value. You can redeem gifts, vouchers or frequent flyer miles with selected airlines.

Who will benefit from the 1% contribution?

Donate to any charity and we will contribute 1% of the amount to these supported charity organizations.

Global Environment Center

Support the conservation and rehabilitation efforts of peat forest in Pahang and mangrove forest in coastal areas in Johor & Perak.

PINTAR Foundation

Empower children across the country by bringing knowledge to them through the state-of-the-art PINTAR Mobile Learning Unit.

Yayasan Chow Kit

Help provide a safe and conducive learning environment for children in and around Chow Kit to enable them to reach their full potential.

Pertubuhan Tindakan Wanita Islam (PERTIWI)

Caring for the welfare and needs of women, children and the elderly from among the homeless and low income groups in Malaysia.

Document Required

Things you should know.

Important notes

1 Amended Terms & Conditions For HSBC Premier Travel Mastercard Credit Card apply. Air Miles awarded are capped at 20,000 Air Miles for overseas spend and 30,000 Air Miles for local spend per calendar month. Earn 1 Air Mile for every RM4 local spend.

2 Terms and Conditions for HSBC Plaza Premium Lounge Programme . This programme is only applicable to Primary cardholder. Each Eligible Cardholder is entitled to a maximum number of 12 complimentary visits a year. Lounge access for the 13th and subsequent visit and accompanying guests (including Supplementary Cardholders) will be charged the lounge prevailing rates. Any subsequent visit on the same day and any visit exceeding the 3-hour limit will be subject to the applicable charges listed at the respective lounge. List of eligible Plaza Premium Lounges.

• List of eligible Plaza Premium Lounges (PDF) List of eligible Plaza Premium Lounges (PDF) Download

3 Subject to Global Data Roaming by Flexiroam Terms and Conditions apply.

4 Subject to Digital Health by Allianz Terms and Conditions apply. 

5 The Bank will make a Charity Donation to Selected Charity Organization(s) which is equivalent to 1% of the Eligible Charity Spend made by Eligible Cardholders, up to a maximum of RM500,000 per year. List of Selected Charity Organization(s) refer here .

6 Subject to Mastercard Terms and Conditions apply.

7 10% discount on Expedia is applicable for 1 hotel room booking. Both Agoda and Expedia's discounts are subject to their respective Terms and Conditions. 

8  Protected by PIDM up to RM250,000 for each depositor.

9 Terms & Conditions for HSBC SmartPrivileges .

10 Terms and Conditions for HSBC Premier Travel Rewards Programme 2023 . Effective January 2023.

• Product Disclosure Sheet (PDF) ENG Product Disclosure Sheet (PDF) ENG Download
• Product Disclosure Sheet (PDF) BM Product Disclosure Sheet (PDF) BM Download

Everyday Global Account

The all-in-one savings account for your everyday needs, here in Malaysia and overseas.

Open an account online today in 3 simple steps.

Card features & services

Cash instalment plan.

Convert your available credit limit into instant cash.

Balance Transfer Instalment (BTI)

Consolidate all of the outstanding balances from your other credit cards to your HSBC credit card.

Cash Advance

Use cash advance for instant cash relief.

Mastercard Automatic Biller Update (Effective 12 June 2020)

HSBC Mastercard credit cardholders will automatically enjoy Mastercard Automatic Billing Updater (ABU) service. Mastercard ABU allows us to securely communicate cardholder’s account changes (credit card number updates) for card-on-file and recurring payments to participating merchants. This will help maintain existing recurring payment arrangements and reduce transaction declines that can occur due to such changes. Not all merchants participate in the ABU service. Complete the form to opt out of Mastercard Automatic Billing Updater (ABU) service.

More on credit card

Check out more credit card features.

Connect with us

• Overall Bank Rating
• Pros and Cons

About HSBC Bank

• HSBC Account Reviews
• How HSBC Bank compares
• Why You Should Trust Us

HSBC Bank Review 2024

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate banking products to write unbiased product reviews.

You might like HSBC Bank (Member FDIC) if you can keep $75,000 in bank/investment accounts, receive $5,000 in direct deposits each month, or take out a mortgage of at least $500,000. Then you're eligible to waive monthly fees and earn high rates. Otherwise, you may want to consider some of the best online banks , which make it easier to earn good rates and waive fees.

HSBC Bank Review: Overall Rating

Hsbc bank pros and cons.

HSBC Bank now focuses on serving wealthier customers. In February 2022, Citizens Bank took over HSBC's U.S. operations on the East Coast, and Cathay Bank took over on the West Coast. Existing customers' accounts were converted into either Citizens or Cathay accounts.

HSBC offers what are called "Premier" accounts. To qualify for Premier status, you must open an HSBC Premier Checking account and meet one of the following requirements:

• Maintain a combined total of $75,000 in eligible U.S. consumer and commercial deposit and investment accounts
• Receive recurring monthly deposits of $5,000 from a third party to your HSBC checking account
• Have an HSBC U.S.-based residential mortgage with HSBC with an original amount of $500,000 or more (this does not include a combined loan amount from multiple mortgages or home equity products)

The HSBC U.S. mobile app has 4.6 out of 5 stars in the Apple store, and 4.8 out of 5 stars in the Google Play store.

Your deposits are FDIC insured for up to $250,000, or up to $500,000 for joint accounts. This means your money is safe even if HSBC shuts down.

Is HSBC Bank Trustworthy?

The Better Business Bureau evaluates companies' responses to customer complaints, honesty in advertising, time in business, and more. The BBB gives HSBC Bank USA an A rating . The highest possible BBB rating is A+ but HSBC has an A- because several customer complaints on the website have not been resolved.

In May 2023, First Citizens Bank sued HSBC . First Citizens acquired Silicon Valley Bank, and it's accusing HSBC of breaking federal law by stealing around 40 SVB employees. HSBC has not admitted to any wrongdoing, and the case is still ongoing.

HSBC Bank FAQs

HSBC is a trusted bank overall. It has a high Better Business Bureau grade and a 3.9 out of 5 on its Consumer Affairs profile , based on over 900 customer reviews. Of those reviews, 73% were either a 4 or 5.

Yes, HSBC is a credible bank with FDIC insurance.

Your money is safe with HSBC because it is federally insured. HSBC is a Member FDIC bank, so your deposits are secured for up to $250,000 per account, per ownership category. Your money may only be unsafe at HSBC if you have more money with the bank than federal insurance covers. In this case, you would lose any uninsured money if the bank shut down.

The main disadvantage of HSBC Bank is that it's primarily for higher earners. You must receive a relatively high amount in deposits, maintain high account balances, or have a $500,000 mortgage to qualify for its accounts.

HSBC Bank Account Reviews

Hsbc bank premier relationship savings account.

$50 monthly service fee

0.05% to 4.40%

$0, or $1 if opened online

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. High interest rate if you meet the qualifications for a relationship rate
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit ($1 if you open the account online)
• con icon Two crossed lines that form an 'X'. Must have a Premier Checking Account
• con icon Two crossed lines that form an 'X'. Low standard interest rate
• con icon Two crossed lines that form an 'X'. $50 monthly maintenance fee if you don't meet qualifications for waiving the fee
• Waive $50 service fee each month that you maintain a $75k minimum balance in a combination of eligible bank/investment accounts OR receive direct deposits of at least $5k OR have an HSBC residential mortgage with a minimum original loan amount of at least $500k
• Qualify for the highest interest rate each month that you spend $500 with your debit card OR receive $5k in direct deposits OR have an HSBC residential mortgage with a minimum original loan amount of at least $500k OR have HSBC Jade customer status
• Interest compounded monthly, paid monthly
• Member FDIC

The HSBC Bank Premier Relationship Savings Account is a good option if you qualify for the highest interest rate, because you'll earn more than you would with many brick-and-mortar banks. To earn the top rate each month, complete one of the following:

• Spend at least $500 with your debit card
• Receive $5,000 in direct deposits
• Have a residential mortgage through HSBC with an original amount of at least $500,000
• Have Premier Elite Status (you'll be an Elite member if you have a Premier Checking Account and have had a combined total of $1 million in eligible HSBC bank and investment accounts for at least two consecutive calendar months)

HSBC Bank Premier Checking Account

Earn a higher Relationship APY when you open an HSBC Premier Relationship Savings account and link your eligible Premier checking account and meet at least one of the eligibility criteria each month (offer expires 6/30/2024)

$50 monthly service fee*

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Unlimited out-of-network ATM fee reimbursements
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. No foreign transaction fees
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Access to a Premier Savings Account
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Preferential mortgage rates for Premier customers
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. $1 opening deposit, and $5 to earn interest
• con icon Two crossed lines that form an 'X'. Low interest rate

HSBC Premier Checking might be worthwhile if you meet the requirements to qualify for an HSBC Premier relationship. Otherwise, there's a $50 monthly service fee.

• Enjoy the benefits of a Premier relationship
• As an international bank, we understand that you have global, complex financial needs. We can help you make the most of your money, anywhere your money goes.
• - Access to wealth solutions offered through HSBC Securities (USA) Inc.
• - Move money domestically and globally seamlessly and securely with our flexible money movement services
• - Credit portability that allows you to live, work and travel with HSBC Premier status around the world
• Get rewarded with a higher savings rate
• Earn a higher Relationship APY when you open an HSBC Premier Relationship Savings account and link your eligible Premier checking account and meet at least one of the following eligibility criteria each month:
• - Spend $500 on your debit card: Make $500 or more in purchases or payments (excluding ATM withdrawals) using the HSBC Debit Card associated with your linked HSBC Premier checking account
• - Receive $5,000 in direct deposits: Qualifying direct deposits of $5,000 or more into the linked HSBC Premier checking account
• - Have a $500,000 mortgage: HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000
• - Hold Premier Elite status

HSBC Premier Checking is a worthwhile option for travelers because there are no foreign transaction fees, and you'll receive an unlimited amount in ATM reimbursements. HSBC's website advertises a $50 monthly service fee*, but it's easy to waive — the same requirements for opening an account also allow you to waive the fee.

HSBC Bank CD

4.25% to 5.40%

• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Higher interest rates than many brick-and-mortar banks on longer terms
• Check mark icon A check mark. It indicates a confirmation of your intended interaction. Low to standard early withdrawal penalties
• con icon Two crossed lines that form an 'X'. Minimum $1,000 deposit
• Over 200 branches in CA, CT, DC, FL, MD, NJ, NY, PA, VA, and WA
• Available terms are the 6-month, 8-month, 1-year, and 2-year terms
• Early withdrawal penalties: 30 days simple interest for terms of up to 369 days; 90 days simple interest for terms of 370 to 733 days; 180 days simple interest for terms of 734 days or longer
• When you open the account, the employee will tell you how often compounding is available for your term

HSBC Bank pays high rates on CDs, but it only has four terms to choose from: six months, eight months, one year, and two years. If you're looking for one of these term lengths, it's a good option.

How HSBC Bank Compares

HSBC Bank vs. Chase Bank

Chase Bank is a great option if you're looking for a national bank with a large presence, because it has branches in almost every U.S. state. It also doesn't specifically cater to high-net-worth customers.

But if you do qualify for HSBC's accounts, you might prefer the bank over Chase. It makes it easier to waive monthly fees, and you'll earn higher savings and CD rates.

Chase Bank Review

HSBC Bank vs. Bank of America

Bank of America is another strong choice if you want a large brick-and-mortar bank. It has locations in 37 U.S. states and Washington, DC.

If you qualify for its accounts, HSBC could be the better choice for earning a high savings rate. The best option for a CD depends on a variety of factors — Bank of America offers more CD options, including a no-penalty CD . It also pays high rates on certain terms, but CD rates vary by location.

Bank of America Review

Why You Should Trust Us: How We Reviewed HSBC Bank

At Business Insider, we rate checking and savings accounts using our bank account methodology and certificates of deposit with our CD methodology .

For each account, we looked at HSBC's ethics, customer support, mobile app, and minimum deposit. Other factors considered depended on the type of account. For example, we looked at monthly fees for checking and savings accounts, and early withdrawal penalties for CDs.

• Main content

• Auto Insurance Best Car Insurance Cheapest Car Insurance Compare Car Insurance Quotes Best Car Insurance For Young Drivers Best Auto & Home Bundles Cheapest Cars To Insure
• Home Insurance Best Home Insurance Best Renters Insurance Cheapest Homeowners Insurance Types Of Homeowners Insurance
• Life Insurance Best Life Insurance Best Term Life Insurance Best Senior Life Insurance Best Whole Life Insurance Best No Exam Life Insurance
• Pet Insurance Best Pet Insurance Cheap Pet Insurance Pet Insurance Costs Compare Pet Insurance Quotes
• Travel Insurance Best Travel Insurance Cancel For Any Reason Travel Insurance Best Cruise Travel Insurance Best Senior Travel Insurance
• Health Insurance Best Health Insurance Plans Best Affordable Health Insurance Best Dental Insurance Best Vision Insurance Best Disability Insurance
• Credit Cards Best Credit Cards 2024 Best Balance Transfer Credit Cards Best Rewards Credit Cards Best Cash Back Credit Cards Best Travel Rewards Credit Cards Best 0% APR Credit Cards Best Business Credit Cards Best Credit Cards for Startups Best Credit Cards For Bad Credit Best Cards for Students without Credit
• Credit Card Reviews Chase Sapphire Preferred Wells Fargo Active Cash® Chase Sapphire Reserve Citi Double Cash Citi Diamond Preferred Chase Ink Business Unlimited American Express Blue Business Plus
• Credit Card by Issuer Best Chase Credit Cards Best American Express Credit Cards Best Bank of America Credit Cards Best Visa Credit Cards
• Credit Score Best Credit Monitoring Services Best Identity Theft Protection
• CDs Best CD Rates Best No Penalty CDs Best Jumbo CD Rates Best 3 Month CD Rates Best 6 Month CD Rates Best 9 Month CD Rates Best 1 Year CD Rates Best 2 Year CD Rates Best 5 Year CD Rates
• Checking Best High-Yield Checking Accounts Best Checking Accounts Best No Fee Checking Accounts Best Teen Checking Accounts Best Student Checking Accounts Best Joint Checking Accounts Best Business Checking Accounts Best Free Checking Accounts
• Savings Best High-Yield Savings Accounts Best Free No-Fee Savings Accounts Simple Savings Calculator Monthly Budget Calculator: 50/30/20
• Mortgages Best Mortgage Lenders Best Online Mortgage Lenders Current Mortgage Rates Best HELOC Rates Best Mortgage Refinance Lenders Best Home Equity Loan Lenders Best VA Mortgage Lenders Mortgage Refinance Rates Mortgage Interest Rate Forecast
• Personal Loans Best Personal Loans Best Debt Consolidation Loans Best Emergency Loans Best Home Improvement Loans Best Bad Credit Loans Best Installment Loans For Bad Credit Best Personal Loans For Fair Credit Best Low Interest Personal Loans
• Student Loans Best Student Loans Best Student Loan Refinance Best Student Loans for Bad or No Credit Best Low-Interest Student Loans
• Business Loans Best Business Loans Best Business Lines of Credit Apply For A Business Loan Business Loan vs. Business Line Of Credit What Is An SBA Loan?
• Investing Best Online Brokers Top 10 Cryptocurrencies Best Low-Risk Investments Best Cheap Stocks To Buy Now Best S&P 500 Index Funds Best Stocks For Beginners How To Make Money From Investing In Stocks
• Retirement Best Gold IRAs Best Investments for a Roth IRA Best Bitcoin IRAs Protecting Your 401(k) In a Recession Types of IRAs Roth vs Traditional IRA How To Open A Roth IRA
• Business Formation Best LLC Services Best Registered Agent Services How To Start An LLC How To Start A Business
• Web Design & Hosting Best Website Builders Best E-commerce Platforms Best Domain Registrar
• HR & Payroll Best Payroll Software Best HR Software Best HRIS Systems Best Recruiting Software Best Applicant Tracking Systems
• Payment Processing Best Credit Card Processing Companies Best POS Systems Best Merchant Services Best Credit Card Readers How To Accept Credit Cards
• More Business Solutions Best VPNs Best VoIP Services Best Project Management Software Best CRM Software Best Accounting Software
• Manage Topics
• Investigations
• Visual Explainers
• Newsletters
• Abortion news
• Coronavirus
• Climate Change
• Vertical Storytelling
• Corrections Policy
• College Football
• High School Sports
• H.S. Sports Awards
• Sports Betting
• College Basketball (M)
• College Basketball (W)
• For The Win
• Sports Pulse
• Weekly Pulse
• Buy Tickets
• Sports Seriously
• Sports+ States
• Celebrities
• Entertainment This!
• Celebrity Deaths
• American Influencer Awards
• Women of the Century
• Problem Solved
• Personal Finance
• Small Business
• Consumer Recalls
• Video Games
• Product Reviews
• Destinations
• Airline News
• Experience America
• Today's Debate
• Suzette Hackney
• Policing the USA
• Meet the Editorial Board
• How to Submit Content
• Hidden Common Ground
• Race in America

Personal Loans

Best Personal Loans

Auto Insurance

Best Auto Insurance

Best High-Yields Savings Accounts

CREDIT CARDS

Best Credit Cards

Advertiser Disclosure

Blueprint is an independent, advertising-supported comparison service focused on helping readers make smarter decisions. We receive compensation from the companies that advertise on Blueprint which may impact how and where products appear on this site. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Blueprint. Blueprint does not include all companies, products or offers that may be available to you within the market. A list of selected affiliate partners is available here .

Credit Cards > Reviews

My GM Rewards Mastercard review 2024

Sarah Brady

Ashley Barnett

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Grace Pilling

Published 4:27 p.m. UTC April 22, 2024

• path]:fill-[#49619B]" alt="Facebook" width="18" height="18" viewBox="0 0 18 18" fill="none" xmlns="http://www.w3.org/2000/svg">
• path]:fill-[#202020]" alt="Email" width="19" height="14" viewBox="0 0 19 14" fill="none" xmlns="http://www.w3.org/2000/svg">

Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy .

If you plan to buy a GM vehicle or currently have a GM loan, it could pay to use the My GM Rewards® Mastercard® * The information for the My GM Rewards® Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . You’ll earn 7 points per $1 spent at GM and 4 points per $1 elsewhere, and you can redeem the points as credits toward your GM purchase or lease payments or for GM services, parts or subscriptions. 

But if you’re not doing business with GM, you should give this card a pass. Our My GM Rewards Mastercard review walks you through the ins and outs of this credit card. 

My GM Rewards Mastercard basics

• Annual fee: $0.
• Welcome bonus: 15,000 points after spending $1,000 on purchases in the first three months of account opening.
• Rewards: 7 points per $1 spent at GM and 4 points per $1 elsewhere.
• APR: 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases.
• Recommended credit score: Good to excellent.
• Does the card offer preapproval? Yes.
• Other benefits: $100 annual statement credit when you spend $1,500 on fuel purchases at eligible gas stations per calendar year or earn electric vehicle owners can earn a $100 statement credit when using the card to pay six months of electric bills, $50 annual vehicle detailing allowance when using the card at a participating GM dealer and World Elite Mastercard benefits. 

My GM Rewards Mastercard review

The My GM Rewards Mastercard offers several perks tailored to a specific group of people: anyone who’s paying off or planning to buy a GM, including a Chevrolet, Buick, GMC or Cadillac.

There are complex rules around earning and redeeming points for this card, so even if you plan to buy a GM soon, you’ll want to read the fine print and think through the math before applying for the card. 

For example, you can earn 7 points per $1 spent at GM and 4 points per $1 elsewhere, but you’re not likely to spend much in this category if you have a brand-new vehicle or if your car is still under warranty. Plus, if you want to buy a Certified Pre-Owned GM, you can only redeem $1,000 worth of points toward your purchase. 

Want to earn the $100 annual statement credit on this card? That’s a little complicated too. You’ll first need to verify and activate your account through mygmrewardscard.com. If you have a gas-powered car, you must spend at least $1,500 on fuel purchases at eligible gas stations per calendar year. If you drive an electric vehicle, you’ll have to pay your electric bill for six months within the calendar year before you’re eligible for the statement credit.

The My GM Rewards Mastercard comes with a welcome bonus, but it’s underwhelming. You’ll get 15,000 points after spending $1,000 on purchases in the first three months of account opening. That might sound generous, but at a value of $0.01 per point, that’s just $150 when redeemed. In other words, the welcome bonus shouldn’t be your motivation for getting this card. 

It is a better bonus than what you’d get with the Toyota Rewards Visa® Credit Card * The information for the Toyota Rewards Visa® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. or the FordPass® Rewards Visa® Card * The information for the FordPass® Rewards Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. , but you can get a better welcome offer from many other rewards credit cards .

With that said, some people who own or plan to buy a GM can still enjoy some of the card’s features. On top of having no annual fee and no foreign transaction fees, you also get a 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases. Ensure you can pay off your credit card balance before the intro offer expires since the rate adjusts to the regular APR afterward. 

• Earn points for every purchase: Earn 7 points per $1 spent at GM and 4 points per $1 elsewhere.
• Introductory APR offer: You’ll get a 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases.
• Annual credits and allowances : Cardholders can cash in on up to $150 yearly in combined statement credits and allowances. 
• Small welcome bonus: The welcome bonus has a low redemption value of roughly $150.
• Limited options for redeeming rewards: There’s a long list of restrictions on how to redeem rewards, and they don’t have much value other than paying for GM vehicles and services.
• No balance transfer offer: The introductory APR offer does not apply to balance transfers — in fact, balance transfers are not allowed on this card.

My GM Rewards Mastercard rewards

It’s rare for a credit card to offer seven points in any spending category. But as a general rule of thumb, the higher the point multiplier the more restrictive the spending category usually is. 

In the case of the My GM Rewards Mastercard, you aren’t likely to earn big points unless you plan to make a major GM purchase or your GM vehicle is no longer under warranty and requires a lot of maintenance that you’ll have done at a dealership. 

Here’s how the points break down: 

• 7 points: Certified Service at authorized participating dealers , GM Genuine parts, AC Delco parts, GM accessories, SiriusXM subscriptions, GM Protection Plans and most OnStar Service plans.
• 4 points: Everyday spending, not including cash advances, ATM withdrawals, savings bond purchases, gambling, finance charges or fees.

The offer on SiriusXM isn’t a great deal for some GM owners, since new GMs come with a free SiriusXM trial that lasts anywhere from three months to three years. You can also get up to three months of free OnStar services with a new GM.

Using government data and other publicly available information, we estimate that a household in the U.S. that would be in the market for this card has around $25,087 in annual expenses that can be charged to a credit card. Here’s how our sample household’s rewards could break down during an average year of GM ownership when the vehicle is no longer under warranty:

Based on our calculations, a cardholder who pays the average, out-of-pocket costs for repairs and services on their GM vehicle could earn 104,314 points annually. But remember that points have varying value depending on how you redeem them. 

Here’s what one point is worth for each redemption option:

• $0.01: GM purchases, including new and certified pre-owned vehicles and GM Certified Services.
• $0.0025: Statement credit for non-GM purchases.

You can redeem your points by visiting a participating dealership and using them at the point of transaction, by using your card to make eligible purchases or by logging in to mygmrewardscard.com to redeem them for a statement credit, up to $250 per year. 

My GM Rewards Mastercard APR

Cardholders get a 0% intro APR on purchases for the first 9 months, then a 20.24% to 29.99% variable APR on purchases, which is a shorter introductory period than many 0% APR credit cards offer. 

After the intro APR period, the rate adjusts to the regular APR, with the lowest rate available to applicants with the best credit. But even if you qualify for the starting rate, your APR will barely be lower than the average credit card APR , which the Federal Reserve reported was 21.59% in February 2024.

My GM Rewards Mastercard perks

This credit card comes with a few extra perks that vehicle owners can cash in on each year: 

• Annual statement credit: Earn a $100 credit by spending $1,500 on fuel per calendar year or, for GM electric vehicle owners, using your card to pay for six months of your electric bills within the calendar year.
• Vehicle Detailing Allowance: Get $50 each calendar year toward vehicle detailing at a participating GM dealer.

Cardholders also get World Elite Mastercard benefits, which include discounts on certain streaming, food delivery and ridesharing services and complimentary identity theft monitoring services. 

How the My GM Rewards Mastercard compares to other rewards cards 

When it comes to credit cards issued by car manufacturers, there aren’t many options to choose from. While earning points on a major purchase like a car might entice you, the rewards you get from these cards don’t come close to the value you could earn on non-car branded credit cards. 

If you want to earn points to help you pay off your car loan, you may want to consider getting a cash-back card and then using the rewards you earn to pay extra towards your car loan payments. Here are some alternatives to consider: 

My GM Rewards Mastercard vs. FordPass® Rewards Visa® Card * The information for the FordPass® Rewards Visa® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

If you’re shopping for a new car but you’re not set on a GM, you might consider using a FordPass Rewards Visa Card. This card has many features in common with the My GM Rewards Mastercard. 

For example, for no annual fee you earn up to 10 points per dollar on spending, with the highest rewards for Ford dealership purchases and services. The Ford card offers 11,000 FordPass Rewards Points the first purchase, and $100 statement credit after spending $3,000 in the first three billing cycles. Plus, you’ll get a $200 annual statement credit each year when you spend $6,000 on the card.

However, just like the My GM Rewards Mastercard, it doesn’t compete with other rewards cards. For example, the FordPass Rewards card has a high APR range even when compared to the GM card, and points can’t be redeemed for non-Ford purchases. 

My GM Rewards Mastercard vs. Toyota Rewards Visa® Credit Card * The information for the Toyota Rewards Visa® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Toyota is another auto manufacturer that offers its own rewards credit card. The Toyota Rewards Visa offers 5 points per $1 spent at participating Toyota Dealerships, 2 points per $1 spent on gas, dining and entertainment and 1 point per $1 spent everywhere else Visa is accepted. Plus, you can earn 5,000 points after spending $500 on purchases outside of Toyota Dealerships in the first 90 days of account opening.

One area where this card stands out from the My GM Rewards Mastercard is redemption options for points. In addition to using them for Toyota purchases, you can redeem points for statement credits or gift cards, and they have a value of $0.01 when redeemed for statement credits versus the $0.0025 you get for GM points.

My GM Rewards Mastercard vs. Citi Custom Cash® Card

We don’t recommend using a credit card to buy a car , but it can pay to use an introductory APR rewards card for big purchases like vehicle repairs and servicing. The Citi Custom Cash® Card , for example, gives you a 0% intro APR for the first 15 months on purchases and from the date of the first transfer for balance transfers within the first four months. After that, the variable APR will be 19.24% to 29.24%. There is a balance transfer fee of 5% of each balance transfer with a $5 minimum. Plus, you can get $200 cash back, in the form of 20,000 ThankYou® points, after spending $1,500 on purchases in the first six months of account opening. This is a bigger welcome offer than what you get with the My GM Rewards Mastercard. 

You’ll earn cash back on every purchase. The Citi Custom Cash earns 5% cash back on purchases in a top eligible spend category each billing cycle, up to the first $500 spent each month and 1% cash back on all other purchases. Plus, an additional 4% cash back on hotels, car rentals, and attractions booked on the Citi Travel℠ portal through 6/30/25. You can redeem your rewards for a statement credit, as well as gift cards, travel and more. 

our partner

Blueprint receives compensation from our partners for featured offers, which impacts how and where the placement is displayed.

Citi Custom Cash® Card

Welcome bonus.

Earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back.

Regular APR

Credit score.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Editor’s Take

• No annual fees.
• Easy-to-redeem cash-back rewards.
• Introductory APR period.
• Charges foreign transaction fees.
• There’s a balance transfer fee.
• Limited cash-back reward categories.

Card details

• Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
• 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 19.24% – 29.24%, based on your creditworthiness.
• Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025.
• No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
• No Annual Fee
• Citi will only issue one Citi Custom Cash® Card account per person.

My GM Rewards Mastercard is right for you if:

• You currently have GM financing on your vehicle. 
• You plan to buy or service your GM at an authorized GM dealership.
• You can pay off your credit card balance before the intro APR expires.

Frequently asked questions (FAQs)

Yes, the My GM Rewards credit card is a Mastercard and it comes with World Elite Mastercard benefits.

To log in to your GM credit card account, visit Marcus.com, click “Log in” on the navigation menu and enter your email address and password when prompted. You can also go directly to Marcus.com/us/en/login to log in.

You can use your My GM Rewards card for any purchase that allows credit card transactions and accepts Mastercard. Once you earn points with the card, you can redeem them toward the purchase of a GM vehicle, GM Certified services or as statement credits. 

It’s recommended to have good to excellent credit to qualify for the My GM Rewards Mastercard. GM offers preapproval, which allows you to see if you qualify and the terms you might qualify for. 

GM doesn’t disclose the credit limit for the My GM Rewards card. If you open an account and want to increase your limit, you can request an increase after 90 days.

*The information for the FordPass® Rewards Visa® Card, My GM Rewards® Mastercard® and Toyota Rewards Visa® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Sarah Brady is a personal finance writer and educator who's been helping individuals and entrepreneurs improve their financial wellness since 2013. Sarah's other publications include Investopedia, Experian, the National Foundation for Credit Counseling (NFCC), Credit Karma and LendingTree and her work has been syndicated by Yahoo! News and MSN. She is also a former HUD-Certified Housing Counselor and NFCC-Certified Credit Counselor.

Ashley Barnett has been writing and editing personal finance articles for the internet since 2008. Before editing for USA TODAY Blueprint, she was the Content Director for an international media company leading the content on their suite of personal finance sites. She lives in Phoenix, AZ where you can find her rereading Harry Potter for the 100th time.

Grace Pilling is a deputy editor for credit cards at USA TODAY Blueprint. She believes credit cards are the ultimate choose-your-own-adventure tools of the financial world and gets excited about helping people discover the best credit card strategy for their unique goals. Prior to joining Blueprint, Grace worked on and led personal finance teams at Bankrate, CreditCards.com, MoneyUnder30 and MoneyGeek. She has a bachelor’s degree in English and writing and a diploma in editing and publishing.

Check it out: This is what the average household spends on grocery costs per month

Credit Cards Stella Shon

Capital One Quicksilver benefits guide 2024

Credit Cards Lee Huffman

United Airlines credit cards have a secret perk that makes it easier to book awards

Credit Cards Jason Steele

Can you pay off one credit card with another?

Credit Cards Louis DeNicola

Amex Gold vs. Platinum

Credit Cards Harrison Pierce

Why I chose the Chase Sapphire Preferred as my first ever rewards card

Credit Cards Sarah Li Cain

How to use Alaska Airlines Companion Fare

Credit Cards Ariana Arghandewal

How I maximize my Chase Ink Business Unlimited Card

How to do a balance transfer with Discover

9 ways to maximize the Citi Custom Cash card’s 5% cash-back categories

American Express Business Platinum benefits guide 2024

Credit Cards Chris Dong

Why I applied for the new Wells Fargo Autograph Journey℠ Visa® Card

Which Citi balance transfer card should I get?

Credit Cards Julie Sherrier

5 reasons why the Citi Diamond Preferred is great for paying down debt

Credit Cards Michelle Lambright Black

Welcome offer on Chase’s IHG One Rewards Premier Business card soars to 175K points

Credit Cards Carissa Rawson