Rewards Plan
Sign up Bonus
Credit Rating
0% Intro
Annual Fee
APR
- Introductory bonus
- cash back on all purchases
- Cap on Rewards
- High Balance Transfer Fee
On HSBC’s Secure Website
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Introductory bonus
- cash back on all purchases
CONS
- Cap on Rewards
- High Balance Transfer Fee
APR
13.99% - 23.99% Variable
Annual Fee
$0
Balance Transfer Fee
$10 or 4%
Credit Requirements
Good - Excellent
The HSBC Cash Rewards Mastercard® credit card is a straight forward cash back rewards card for those looking simplify their rewards. This Mastercard is offered though HSBC which a larger multinational bank based out of Britain.
This card has a generous Unliimited 1.5 cash rewards on every $1 you spend. Also, the card has no annual fee. New applicants can also get 3% intro cash back on all purchases in the first 12 months from account opening, up to the first $10,000 .
One of the top notch benefits is the 0% Introductory APR for 12 months on purchases and balance transfers . The ongoing APR for the HSBC Cash Rewards Mastercard is a 13.99% - 23.99% Variable.
- Introductory Bonus
- No Foreign Transaction Fee
- Travel Perks
- Cashback on Purchases
- No Annual Fee
- 0% APR Introductory Rate
- Purchasing Protection
- Balance Transfer Fee
- Cap on Sign up Bonus
- Redemption Minimum
In This Review..
Benefits
Let’s take a look at the benefits of the HSBC Cash Rewards card and see if it’s the right one for your wallet or not.
- Introductory Bonus
New cardholders will enjoy 3% intro cash back on all purchases in the first 12 months from account opening, up to the first $10,000 .
- No Foreign Transaction Fee
The HSBC Cash Rewards Mastercard does not have a foreign transaction fee.
This is unusual for a non travel rewards card. This is a great perk because you can earn cash back on your travels.
- Travel Perks
HSBC Cash Rewards Mastercard gives card holders access to MasterAssist, a service through Mastercard.
MasterAssist helps card holders with travel planning, roadside assistance, lost luggage and even up to $1 million ins travel accident insurance.
- Cashback on Purchases
HSBC Cash Rewards Mastercard Offers Unliimited 1.5 cash rewards on every $1 you spend.
- No Annual Fee
HSBC Cash Rewards Mastercard does not have an annual fee. You can start putting cash back in your pocket immediately.
- 0% APR Introductory Rate
If you are looking to save money on interest, the HSBC Cash Rewards Mastercard offers a 0% introductory rate for 12 months on purchases and balance transfers .
If you have a credit card that you are trying to pay down, it may be a good option.
- Purchasing Protection
HSBC Cash Rewards Mastercard offers extended warranties extended returns protection, identity theft protection and security chips to make sure cardholders are protected when using the card.
Drawbacks
Here are the most important cons you should consider before applying to the Bank of HSBC Cash Rewards card:
- Balance Transfer Fee
There is a $10 or 4% balance transfer fee required if you want to take advantage of the introductory 0% APR rate.
- Cap on Sign up Bonus
You'll get 3% intro cash back on all purchases in the first 12 months from account opening, up to the first $10,000 . If you were planning to run up the card for the intro cashback you may and to look at other cards once you hit the limit.
- Redemption Minimum
HSBC Cash Rewards Mastercard holders will need to hit a minimum of $25 of cash back in order to revive the funds.
How To Apply For HSBC Cash Rewards Mastercard Card?
- 1.
Visit the HSBC Cash Rewards MasterCard homepage and then click “Apply now.”
- 2.
Next, fill in your first, middle, and last names, date of birth, email address, and social security number.
- 3.
Next click on the Electronic Communications Disclosure download link to read its details.
- 4.
Next, tick the box to indicate that you have read through and then click “Continue.”
Is the HSBC Cash Rewards Card Right for You?
HSBC Cash Rewards Mastercard is good for consumers looking to spend a bunch in the first year of opening.
The HSBC Cash Rewards Mastercard is good for consumers want a straight forward cash back card that does not have changing or specialized categories. This card is for consumers who want to know they are getting cash back on every purchase.
This card is great for traveling in that it is does not have a foreign transaction fee and cardholders and earn cash back on their purchases during travel. Those looking to take advantage 0% intro rate should look other cards that do not have a as high transfer fee at a longer period of time.
Compare The Alternatives
There are more cash back cards – here are some good alternatives to the HSBC Cash Rewards card:
|
|
| |
|---|---|---|---|
American Express EveryDay® Card | Chase Freedom Flex℠ Card | Citi® Double Cash Card | |
Annual Fee | $0
. See Fees & Rates
| $0
| $0
|
Rewards |
1X – 2X
2X at U.S. supermarkets (up to $6,000 each year), then 1x on all purchases
|
1-5%
5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
|
2% (1% when purchase and another 1% upon payment)
2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.
|
Welcome bonus |
10,000 points
10,000 points after you spend $1,000 in purchases on your new card within the first 3 months
|
$200
$200 bonus after you spend $500 on purchases in the first 3 months from account opening
|
None
None
|
Foreign Transaction Fee | 2.7%
| 3%
| 3%
|
Purchase APR | 17.49% – 28.49% variable
| 19.49% – 28.24% variable
| 18.49% – 28.49% (Variable)
|
Review Cash Back Credit Cards
Wells Fargo Active Cash
American Express Blue Cash Preferred
American Express Everyday
Bank of America Cash Rewards
Capital One Quicksilver
Capital One QuicksilverOne Cash Rewards
Capital One Savor Rewards
Capital One SavorOne Rewards
Chase Freedom Flex
Chase Freedom Unlimited
Citi Double Cash
U.S. Bank Altitude Go
U.S. Bank Cash+ Visa Signature
SoFi Card
TD Cash Card
Alliant Cash Back Visa Signature
