HSBC Cash Rewards Mastercard Credit Card Review

HSBC Cash Rewards Mastercard Credit Card is a cashback credit card issued by HSBC Bank USA. If you're wondering whether HSBC Cash Rewards Mastercard Credit Card is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

• Generous reward rate. You will get a a rewards rate of up to 3x.
• Earn a rewards rate of up to 3x. This is higher than the average reward rate
• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 12 months, which is the average period for 0% APR balance transfer cards.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 12 months.
• Competitive APRs. HSBC Cash Rewards Mastercard Credit Card has a variable purchase APR that ranges from 14.74% up to 24.74%.
• No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• 4% Balance transfer fee. HSBC Cash Rewards Mastercard Credit Card charges a fee of up to 4% on balance transfers. For example, a balance of $1,000 could cost up to $40 in transfer fees. The minimum fee is $10.
• $0 foreign transaction fee. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, access to a concierge, travel accident insurance, travel assistance, and fraud protection.
• Fair or better credit required. You stand a chance of qualifying if your credit score is not below 660.

HSBC Cash Rewards Mastercard Credit Card Pros and Cons:

The Good

The Bad

No foreign transaction fees. 3% introductory cash back on all purchases for the first 12 months (up to the first $10,000 in purchases) 1.5% unlimited cash back on every dollar thereafter. 0% introductory APR on purchases and balance transfers for the first 12 months. 10% Anniversary Bonus on all Cash rewards earned each year. Lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 12 months. 0% APR on new purchases during the first 12 months. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Access to a concierge. Free access to your credit score. Travel accident and travel assistance insurance. No foreign transaction fee. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. HSBC Cash Rewards Mastercard Credit Card reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.

This card only offers basic purchase and travel protection. Does not offer a signup bonus. Charges a 4% balance transfer fee.

Is there a HSBC Cash Rewards Mastercard Credit Card cash back or rewards program?

HSBC Cash Rewards Mastercard Credit Card is a cashback card. This means you earn a percentage of your purchase as a cash reward. With HSBC Cash Rewards Mastercard Credit Card you receive 1.5% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $15 back in cash. However, you can earn up to 3% for purchases in a bonus category.

HSBC Cash Rewards Mastercard Credit Card Rewards

Rewards rate (all purchases)	1.5%
Max rewards rate	3%
Annual rewards limit	N/A
Signup Bonus ($)	N/A
Signup Bonus Spend Requirement	$0

What are the HSBC Cash Rewards Mastercard Credit Card benefits?

HSBC Cash Rewards Mastercard Credit Card provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Zero fraud liability
• Travel Accident Insurance
• Cellular Telephone Protection
• Travel Assistance
• ID Theft Protection
• Reports to major credit bureaus

What are the relevant APRs for HSBC Cash Rewards Mastercard Credit Card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. HSBC Cash Rewards Mastercard Credit Card has lower than average purchase APRs.

HSBC Cash Rewards Mastercard Credit Card has a variable purchase APR that ranges from 14.74% up to 24.74%. The card has a variable balance transfer APR that ranges from 14.74% up to 24.74%. It also has a variable cash advance APR of 26.74% . Note that late payments are subject to an APR of 31.74% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the HSBC Cash Rewards Mastercard Credit Card fees?

The following fees apply to HSBC Cash Rewards Mastercard Credit Card:

HSBC Cash Rewards Mastercard Credit Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	up to $25
Late Payment Fee	up to $37

Does HSBC Cash Rewards Mastercard Credit Card report your account activity to credit bureaus?

HSBC Cash Rewards Mastercard Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for HSBC Cash Rewards Mastercard Credit Card

• Visit the HSBC Cash Rewards Mastercard Credit Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.