HSBC Cash Rewards Mastercard® Credit Card

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Last updated on June 1st, 2021

HSBC Cash Rewards Mastercard® Credit Card

Earn 3% Cash Back on All Purchases for First 12 Months

HSBC Cash Rewards Mastercard® Credit Card
  • Regular Purchase APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer APR 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Cash Advance APR 24.99% variable based on the Prime Rate
  • Annual Fee None
  • Credit Needed Excellent , Good
  • Intro Purchase APR 0% for 12 months from account opening date
  • Processing Network Mastercard
Best Benefits
  • Special introductory offer: Earn 3% cash back on all purchases made in the first 12 months from account opening, up to the first $10,000 in purchases
  • Unlimited 1.5% cash back earning on all purchases
  • 10% bonus on all cash rewards earned each account anniversary, 0% Intro APR on purchases and balance transfers for first 12 months account is open
  • No annual fee and no foreign transaction fees
Rates & Fees
  • Intro Purchase APR: 0% for 12 months from account opening date
  • Regular Purchase APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Intro Balance Transfer APR: 0% for 12 months on transfers made within the first 60 days from account opening date
  • Balance Transfer APR: 13.99% to 23.99% variable based on creditworthiness and the Prime Rate
  • Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 24.99% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Penalty APR: 29.99% variable based on the Prime Rate
  • Late Payment Penalty Fee: Up to $39
  • Return Payment Penalty Fee: Up to $39
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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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