Credit Cards » Credit Card Reviews » HSBC Cash Rewards Mastercard Credit Card: 2023 Review
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HSBC Cash Rewards Mastercard Credit Card: 2023 Review

The HSBC Cash Rewards Mastercard is good for consumers want a straight forward cash back card that gives cash back on every purchase and does not have changing or specialized categories.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.

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Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.
Author: Andrew O'Malley
Andrew O'Malley

Writer, Contributor

Experience

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.

Review & Fact Check: Baruch Mann (Silvermann)

Baruch Mann (Silvermann)

Financial Expert, The Smart Investor CEO

Experience

Baruch Mann (Silvermann) is a financial expert and founder of The Smart Investor. Above all, he is passionate about teaching people how to manage their money and helping millions on their journey to a better financial future.

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HSBC Cash Rewards Mastercard®
HSBC Cash Rewards Mastercard_registered_ credit card review

Rewards Plan

Unliimited 1.5 cash rewards on every $1 you spend

Sign up Bonus

3% intro cash back on all purchases in the first 12 months

Credit Rating

Good – Excellent

0% Intro

12 months on purchases and balance transfers

Annual Fee

$0

APR

13.99% – 23.99% Variable
HSBC Cash Rewards Mastercard®
HSBC Cash Rewards Mastercard_registered_ credit card review

Rewards Plan

Unliimited 1.5 cash rewards on every $1 you spend

Sign up Bonus

3% intro cash back on all purchases in the first 12 months

0% Intro

12 months on purchases and balance transfers

PROS

CONS

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.

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 . 

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.

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.

HSBC Cash Rewards Mastercard Offers Unliimited 1.5 cash rewards on every $1 you spend. 

HSBC Cash Rewards Mastercard does not have an annual fee. You can start putting cash back in your pocket immediately.

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.

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:

There is a $10 or 4% balance transfer fee required if you want to take advantage of the introductory 0% APR rate.

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.

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?

Visit the HSBC Cash Rewards MasterCard homepage and then click “Apply now.” 

 

Next, fill in your first, middle, and last names, date of birth, email address, and social security number. 

Next click on the Electronic Communications Disclosure download link to read its details.

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 review 2021

Chase Freedom Flex

citi double cash

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
20.24%–28.99% variable
19.24% – 29.24% (Variable)

Review Cash Back Credit Cards

Andrew O'Malley

Andrew O'Malley

Andrew O’Malley has a BSc in Economics and Finance. He has worked in the finance industry as a risk analyst and is now pursuing a career in writing. In recent years, he has written for a number of leading publications. He studied Economics and Finance and has been fascinated with the financial markets since his teens.
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Rewards Plan:
1X – 4X 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus: 60,000 points 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership

citi_premier_card

Rewards Plan:
1X – 3X 3X points per dollar on restaurant, supermarket, gas station, hotel and air travel and other hotels purchases, and 1X points per dollar on all other purchases
Welcome Bonus: 60,000 points 60,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening. Plus, for a limited time, earn a total of 10 ThankYou® Points per $1 spent on hotel, car rentals, and attractions (excluding air travel) booked on the Citi Travel portal through June 30, 2024

Rewards Plan:
1% – 4% unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases.
Welcome Bonus: $300 $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening

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The product offers that appear on this site are from companies from which this website receives compensation. 

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Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.