| Last updated on October 27th, 2023
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At a Glance
Earn 1.5% on every purchase, get a bonus each time you hit your cardholder anniversary, and pay no interest on balance transfers for 15 months. The HSBC Cash Rewards Mastercard® makes the effort to go beyond the typical cash back rewards credit card.
Ideal for Those Who:
- Prefer to earn the same flat cash back rewards rate on all purchases rather than a tiered structure for select categories
- Are looking for a credit card to transfer an existing balance to
- Want a versatile card that you can use for everyday purchases
HSBC Cash Rewards Mastercard® Credit Card Review
The HSBC Cash Rewards Mastercard® is a versatile cash back rewards card that provides exceptional value for no annual fee.
Comparable to the Chase Freedom Unlimited® and the Capital One Quicksilver® cards, the HSBC Cash Rewards Mastercard® offers an unlimited 1.5% cash back earning rate on all purchases. Where it differs from the competition, though, is in its special introductory cash back bonus.
New accounts enjoy 3% cash back on the first $10,000 in purchases in the first 12 months from Account opening. And, just the like the flat 1.5% cash back after that period, earning 3% back for the first 12 months means no bonus categories to worry about.
0% Intro APR
The HSBC Cash Rewards Mastercard® credit card is also an attractive option if you’re looking for a card to transfer an existing balance to. You can take advantage of 15 months with 0% introductory APR on both purchases and balance transfers when you open an account.
Just keep in mind that the transfer must post within 60 days of becoming a cardholder. Considering the average interest rate among most credit cards, the HSBC Cash Rewards Mastercard® can offer you a pretty low variable APR if your credit score is high enough, so you potentially won’t feel a huge burden after the promotional 0% introductory period passes.
Other Card Features
As with other HSBC credit cards, the Cash Rewards Mastercard® does not charge foreign transaction fees nor an annual fee, which gives it a great deal of versatility when traveling and widens your cash back earning potential. The card also includes a suite of customer protection measures, such as extended warranty, cell phone protection, roadside assistance, and Mastercard travel accident insurance coverage, and identity theft resolution services. Plus, you can pay without having to show your plastic when you link your card to a digital wallet such as Apple Pay® or Google Pay™.
Should You Apply for the HSBC Cash Rewards Mastercard®?
HSBC Cash Rewards Mastercard® is a good option for those who want to earn flat-rate cash back with every purchase – for no annual fee. Unlimited 3% for the first 12 months is an exceptional introductory bonus, even if it is capped at the first $10,000.Once that period concludes, the typical 1.5% back isn’t industry-leading, but it’s more than enough to give this card a big thumbs up.
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