HSBC Cash Rewards Mastercard Credit Card

HSBC Cash Rewards Mastercard Credit Card Review

This is a cashback 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.

Key Takeaways

• Generous reward rate. You can get a maximum cashback rewards rate of up to 3x.
• 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.
• 3% Introductory Cash Back Earn on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases.
• Competitive APRs. HSBC Cash Rewards Mastercard Credit Card has a variable purchase APR that ranges from 13.99% up to 23.99%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible 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 4% on balance transfers. For example, a balance of $1,000 could cost $40 in transfer fees. The minimum fee is $10.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, access to a concierge, emergency support, identity theft protection, travel accident insurance, travel assistance, and fraud protection.
• Fair or better credit required. You will have good approval odds if your credit score is above 660.

Pros & Cons of HSBC Cash Rewards Mastercard Credit Card

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. Potentially 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. There is then a variable purchase APR that ranges from 13.99% up to 23.99%. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Access to a concierge. Identity Theft Protection. Travel accident and travel assistance insurance. No foreign transaction fee. Cardholders can earn rewards on their purchases. HSBC Cash Rewards Mastercard Credit Card reports to multiple credit bureaus.

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

HSBC Cash Rewards Mastercard Credit Card FAQ

Does HSBC Cash Rewards Mastercard Credit Card have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1.5% cash back on travel, dining, groceries, drugstore purchases, or any other 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

Minimum rewards rate	1.5x
Max rewards rate	3x
Annual rewards limit	N/A
Signup Bonus ($)	N/A

What are the HSBC Cash Rewards Mastercard Credit Card benefits?

It provides the following benefits:

• Auto Rental Collision Damage Waiver
• Emergency Support
• Zero fraud liability
• Travel Accident Insurance
• Cell Phone Protection
• Travel Assistance
• 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 regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

HSBC Cash Rewards Mastercard Credit Card has a variable purchase APR that ranges from 13.99% up to 23.99%. The card has a variable balance transfer APR that ranges from 13.99% up to 23.99%. It also has a variable cash advance APR of 24.99% . Note that late payments are subject to an APR of 29.99% 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 fees for HSBC Cash Rewards Mastercard Credit Card?

The following fees apply:

HSBC Cash Rewards Mastercard Credit Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	up to $39
Late Payment Fee	up to $39

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

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

Yes, 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 may help improve your credit.

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