HSBC Cash Rewards Mastercard® Review
Review
Updated
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The HSBC Cash Rewards Mastercard® is a jack-of-all-trades card. It combines elements from a lot of different types of credit cards, including rewards cards and balance transfer cards, and offers an introductory interest-free period for purchases. Like a true jack-of-all-trades, it offers a wide range of options, but doesn't particularly stand out in any one category. Find out if this card is a fit for you with our detailed HSBC Cash Rewards Mastercard® review.
You'll get 1.5% cash back on purchases, which you can redeem for several options. This is about average for cash back rewards cards with no annual fee.
In lieu of a true sign-up bonus, you'll earn 3% cash back on your purchases in the first 12 months. This sounds like a good deal, but you'll only earn this higher rate on the first $10,000 of purchases you make (which is $833 per month). That's a maximum of $150 on top of the 1.5% you'd earn anyway. You might be able to earn a better sign-up bonus with another card. More on that below.
You'll get a full 12-month interest-free period to make any purchases and pay off any credit card debt you transfer. Heads up: In order to take advantage of the intro 0% APR balance transfer offer, you'll need to complete the balance transfer within the first 60 days.
In addition to simple cash-back redemptions, you can also redeem your rewards for travel, gift cards, charitable donations, or merchandise, although these rewards types may involve more steps and may be worth less.
If you break your cellphone or if someone steals it, you can qualify for reimbursement up to $600 through one of HSBC's partner policy providers. A few credit card companies offer this perk, and it's handy, given how expensive those tiny portable computers really are.
This card packs in a lot of value, but it won't cost you anything to keep it open -- assuming you don't have to pay any late fees, and you pay off your balance in full and on time, that is.
See more: Best No Annual Fee Credit Cards
Mastercard is widely accepted abroad, and if you take this card on your adventures, you won't have to worry about paying foreign transaction fees.
Read more: Best No Foreign Transaction Fee Credit Cards
You can kill two birds with one stone if you're looking to finance a large purchase, pay off existing credit card debt, and earn rewards while doing so (keep in mind you won't earn rewards on any balances you transfer). But if getting the longest 0% intro APR offer is your primary goal, there are better offers out there.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
You'll need a credit score of "good to excellent" in order to have the best odds of approval for this card. That translates into a score of 670 or better, according to FICO. Lenders like HSBC usually take more factors into account than just credit score, however, so a score in this range doesn't guarantee you'll be approved (or, conversely, that you're automatically disqualified if your score is under this threshold).
Learn more: Best Credit Cards for Good Credit
Read more: Best Rewards Credit Cards
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| Discover it® Cash Back | Citi Double Cash® Card |
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
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Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Good/Excellent (670-850) |
Credit Rating Requirement:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Fair to Excellent (580-850)
Fair to Excellent (580-850) |
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Welcome Offer: Discover will match all the cash back you’ve earned at the end of your first year. |
Welcome Offer: Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back. $200 |
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Rewards Program: Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. 1% - 5% Cashback |
Rewards Program: Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, a special travel offer, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. 2% cash back |
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Intro APR: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months |
Intro APR: Purchases: N/A Balance Transfers: 0%, 18 months on Balance Transfers |
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Regular APR: 18.24% - 27.24% Variable APR |
Regular APR: 18.24% - 28.24% (Variable) |
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Annual Fee: $0 |
Annual Fee: N/A $0 |
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There's no shortage of credit cards offering cash back rewards these days. That said, there are a few cases in which this card might be particularly useful for you:
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
The credit limit for the HSBC Cash Rewards Mastercard® typically ranges from $1,000 to $20,000 or more. Upon approval for the card, HSBC sets a credit limit for you based on your annual income, credit profile, and other financial information.
It can be hard to get the HSBC Cash Rewards Mastercard® because of the application requirements. You must have an HSBC bank account to be eligible to apply for this credit card. Some consumers have also reported that they needed to provide additional documentation during the application process.
No, you can't get pre-approved for the HSBC Cash Rewards Mastercard®.
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