The HSBC Cash Rewards Mastercard® credit card is currently offering an introductory 3% cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases.
*Offer currently unavailable*
Additionally, this card offers an ongoing 1.5% unlimited cash back rate on all purchases and no annual fee. Furthermore, there are no foreign transaction fees. If you’re interested in a card with a cash back bonus, travel and shopping benefits, and more, check out the HSBC Cash Rewards Mastercard!
* The HSBC Cash Rewards Mastercard® credit card is issued by HSBC. They also offer great sign-up bonuses for their Checking/Savings accounts. You can also compare this card with other credit card bonuses!
Note: Check out the following cards to earn one of the best flat cash back opportunities across all purchases: Wells Fargo Cash Wise card, the Chase Freedom Unlimited card, or the American Express Cash Magnet card! For a wider variety, see more credit card bonus offers here.
Table of Contents
HSBC Cash Rewards Mastercard
| Bonus Available | Introductory 3% Cash Back in the first 12 months, up to $10,000 in purchases. |
| *Bonus Value | $150. Base ongoing rate is 1.5%. Introductory rate is an extra 1.5% during the first 12 months, up to $10k in purchases. |
| Anniversary Bonus | Get a 10% bonus on all Cash Rewards earned each year. |
| Ongoing Rewards | 1.5% unlimited cash back on all purchases. |
| Foreign Transaction Fees? | No |
| Annual Fee | None |
* Bonus value is an estimated value calculated by HustlerMoneyBlog and not the card issuer.
View the latest valuations here.
Recommended Free Credit Score (Get Free Score)
690 – 850 (Good – Excellent)
3% Introductory Cash Back Offer
- Earn unlimited 1.5% cash back on all purchases.
- 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
- 10% Anniversary Bonus on all Cash Rewards earned once a year.
- No Annual Fee.
- 0% Intro APR for 12 months on purchases and balance transfers, then a 14.99% – 24.99% variable APR.
- No Foreign Transaction Fees.
- $0 liability for unauthorized purchases.
- Terms Apply.
- See Rates & Fees
| Intro Purchase APR & Duration | 0% Introductory APR on credit card purchases for the first 12 months from account opening. |
| Online Purchase APR | Variable APR of 14.99% – 24.99% will apply after the Introductory Period |
| Penalty APR | 32.00% |
| Intro Balance Transfer APR & Duration | 0% Introductory APR on balance transfers for the first 12 months from account opening |
| Ongoing Balance Transfer APR | Variable APR of 14.99% – 24.99% will apply after the Introductory Period |
| Ongoing Balance Transfer Fee | Either $10 or 4%, whichever is greater, will apply on each balance transfer and credit card check. |
| Annual Fee | $0 |
| Foreign Transaction Fee | N/A |
| Cash Advance Fee | Either $10 or 4%, whichever is greater, will apply on each cash advance transaction. |
| Cash Advance APR | 27.00% |
You’ll be able to earn up to $300 cash back (up to $10,000 in purchases) with the HSBC Cash Rewards Mastercard credit card at the 3% introductory rate the first 12 months. The rate goes back to the ongoing 1.5% after the introductory period, or after you’ve earned $300 in cash back during that time.
Here are some ideas on meeting the spending requirements:
| • Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well. |
| • Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on the bank. |
| • Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't. |
| As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance. Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes. |
| |
Earn Cash Back & Redeem Rewards
Receive 1.5% cash back on every purchase, with no limit to the amount you can earn.
Enjoy a 10% Anniversary Bonus on all cash back rewards earned in the previous year. This will give you a small boost of 1.65% cash back to your rewards every year. Just keep your account active and in good standing.
Redeem your cash back through statement credit, gift cards, merchandise, charity, and travel rewards. You must redeem a minimum of $25 for statement credit. Though, this will give you the full value for your rewards. Other redemption options will cost less but also give you less value.
Travel & Shopping Benefits
Enjoy no foreign transaction fees (see Rates & Fees) and other travel benefits. Travel benefits include up to $1 million in coverage if an accident should occur on a commercial passenger vehicle, $50,000 in coverage in the event of collision, damage or theft of a rental vehicle, and more. No need to pay for additional auto insurance coverage when you use this card.
For purchases, Purchase Assurance covers most purchases up to $1,000 against accidental damage or theft for 90 days from the date of purchase. Additionally, Extended Warranty that doubles your original warranty for up to one additional year. Price Protection can refund the difference if you buy an item and then see it advertised for less within 60 days.
HSBC Promotions
 • Get a $450 Welcome Deposit for eligible new customers who open a new HSBC Premier checking account and complete the following qualifying activities. • Open your new HSBC Premier checking account online by January 5, 2022; and • Make recurring monthly Qualifying Direct Deposits totaling at least $5,000 from a third party to your HSBC Premier checking account(s) for 3 consecutive calendar months from the second full calendar month after account opening. • You will automatically receive the $450 Welcome Deposit in your new HSBC Premier checking account approximately eight weeks after completing all qualifying activities. It's that simple. Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC. |
Bottom Line
This card is a pretty straightforward card to have. Use the HSBC Cash Rewards Mastercard® credit card wherever you want because you’ll always get 1.5% cash back, no matter what you buy. Plus, the 10% Anniversary Bonus adds a nice touch.
Furthermore, pair it with a different reward card that has bonus reward categories at higher rates to earn more cash back. If you’re interested in banking with HSCBC, check out the latest HSBC bank promotions. Above all, find all the credit card bonuses on our exclusive list!
(Visit HSBC to learn more about this card and its features)
The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
The information about the HSBC Cash Rewards Mastercard® credit card has been collected independently by Hustlermoneyblog. The card details have not been reviewed or approved by the card issuer.
What’s the Competition?
Below are some of the top competitors for the HSBC Cash Rewards Mastercard:
 The Chase Freedom Unlimited Card offers a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases. In addition, you can earn: • Earn 5% cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year. • Earn unlimited 1.5% cash back on all other purchases. • Earn 5% on Chase travel purchased through Ultimate Rewards, 3% on dining and drugstores, and 1.5% on all other purchases. There is no minimum to redeem for cash back & your cash back rewards do not expire as long as your account is open. This card comes with no annual fee and you'll get a free credit score that is updated weekly with Credit JourneySM. |
 The Capital One Quicksilver Cash Rewards Card offers a one-time $200 cash bonus after spending $500 on purchases within 3 months from account opening. You'll be able to earn an unlimited 1.5% cash back on every purchase, every day with no rotating categories or sign-ups needed to earn cash rewards. This card comes with no annual fee and no foreign transaction fees which makes this card a viable option for your go-to everyday card. |
 The Capital One Venture Rewards Credit Card offers a one-time bonus of 60,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $600 in travel. You're able to earn 2X miles on every purchase, every day. This card does come with a $95 annual fee. Enjoy no foreign transaction fees and receive up to $100 application fee credit for Global Entry or TSA Pre?®. |
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Link not working.
Hey John,
Thanks for being a valued reader! The link should be working now. Thanks for bringing this to our attention!
On the rewards program, you have 4 options. They are (ranked from best to worst as I think)
1. Financial Rewards (Statement credit or direct deposit to HSBC only, no mailed checks): multiples of $25 (2500 points), or any amount above $50 (5000 points)
2. Gift cards: usually a $10 GC (the minimum value available) will cost you 1500 points. A $100 (Avis/National/Budget/Alamo/Uber) GC = 12500 points
3. Merchandise: e.g., Google Chromecast 2.0 = 5700 points, and Apple TV 4th gen = 21300 points
4. Travel