HSBC Cash Rewards Mastercard® credit card Review

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Our Detailed Review of This Card

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The HSBC Cash Rewards Mastercard® credit card provides the sweet-spot combination of a high introductory cash back rate, ongoing cash back rewards and a 0% intro APR on purchases and balance transfers. Even better, the card is available to those with good to excellent credit, which is typically thought to be a credit score above 700, and has no annual fee.

To start, HSBC Cash Rewards Mastercard® credit card holders will earn an intro 3% cash back on all purchases for the first 12 months from account opening, up to $10,000 — that means you can earn up to $300 with the introductory cash back rate in your first year. After the 3% intro rewards, all purchases earn an unlimited 1.5% cash back on every $1 you spend, which means you don’t have to worry about spending caps or rotating categories. On top on that, every year on your anniversary, you’ll receive an extra 10% anniversary bonus on all the cash back you earned that year. So if you earned $500 cash back, you’ll get $50 automatically added to your rewards account! That’s a pretty big deal and can add up to some significant cash back each year.

In addition to rewards, users will enjoy a 12-month 0% intro APR on balance transfers and purchases. That means you can transfer your balances from other high-interest cards over to the HSBC Cash Rewards Mastercard® credit card and save some money by paying no interest for a whole year. There is a balance transfer fee of 4% ($10 minimum), which is slightly higher than average, but depending upon how much you’re transferring and your current interest rate, it could be worthwhile. To see for sure, take a look at our free and easy-to-use Balance Transfer Calculator. Plus, with the 0% intro APR on purchases, you’ll have a year without interest on any new purchases.

Other card benefits include purchase protection, which protects most card purchases of up to $1,000 against theft or accidental damage for 90 days; extended warranty, which doubles your original warranty for up to one year; and price protection, which can refund the difference if you buy something and then see it advertised for less within 60 days. In addition, travelers will appreciate that the HSBC Cash Rewards Mastercard® credit card has no foreign transaction fees, roadside assistance (U.S. only) and travel accident insurance.

The HSBC Cash Rewards Mastercard® credit card is a solid fit for anyone looking for a cash back card with no annual fee and a 0% intro APR balance transfers. If you like these features, but you want a longer intro APR period or higher cap for your intro cash back rate, you may prefer Chase Freedom Unlimited.

Rewards

  • 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.
  • Earn 1.5 Cash Rewards program points for every dollar in new, net card purchases.
  • Plus, earn a 10% anniversary bonus on all cash rewards earned.

Redeem Rewards

  • Redeem rewards for cash back, statement credit, travel and more.

Fees and APR

  • Annual Fee: $0.
  • Purchase APR: 0% Introductory APR on credit card purchases for the first 12 months from account opening, then Variable APR of 15.24%, 19.24% or 25.24% will apply after the Introductory Period.
  • Balance Transfer APR: 0% Introductory APR on balance transfers for the first 12 months from account opening, then Variable APR of 15.24%, 19.24% or 25.24% will apply after the Introductory Period.
  • Balance Transfer Fee: Either $10 or 4%, whichever is greater.
  • Foreign Transaction Fee: None.
  • Terms and Conditions
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Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.