HSBC BusinessVantage Mastercard Review
Get a low-fee business card with the chance to earn cashback or rewards when you spend money on your small business.
The HSBC BusinessVantage Mastercard is a low-fee credit card that lets you earn your choice of cashback or rewards on all of your business purchases. It comes with a minimum limit as high as $50,000. You’ll also get special discounts at select merchants and the option to add travel insurance to your card.
Purchase Interest Rate
- Think about this card if you want a basic business card with a low annual fee.
- Choose something else if you want free additional cards or you would prefer premium benefits.
- There are no eligibility requirements listed to qualify for this card.
If you’re looking for a low-fee credit card that offers merchant discounts and a host of budgeting tools, you might like to check out the HSBC BusinessVantage Mastercard.
- Low annual fee. This card comes with a $15 annual fee (per cardholder). If you want to use the optional Annual rewards program, you’ll face a $45 fee annually (per cardholder).
- Flexible rewards. You can choose to sign up to earn HSBC Rewards points or cashback, depending on your preferences.
- Discounts at participating merchants. You’ll get up to 25% off when you use your card to pay for fuel, car rentals, food and merchandise at select retailers.
- Business spending tools. You’ll be able to track spending using HSBC’s online software and you can set transaction limits for each card.
- High maximum limit. Get up to $50,000 in unsecured financing with this card (spread across all cardholders).
Which retailers offer discounts with this card?
There are a limited number of retailers that offer discounts when you shop with your HSBC BusinessVantage Mastercard. The current list of retailers includes the Dinova Restaurant Network, the Hotels Network, Avis Car Rentals, Firestone Tires, Monster, LawDepot and a handful of other suppliers.
- Extended warranty. Get double the protection with an added year of warranty coverage on eligible purchases made with your card.
- Zero-liability protection. Avoid losing money on unauthorized or fraudulent purchases with zero-liability protection.
- Instant pay. Save time when you tap to pay with Mastercard contactless payment and Apple Pay.
- Online protection. Use your Mastercard SecureCode to protect your information when you make purchases online.
- Worldwide acceptance. Shop with confidence when you travel overseas knowing that Mastercard is accepted worldwide.
What to watch out for
- Minimal rewards. You won’t earn a high rate of cash back or points with this card.
- Low points value. The value of your points will fluctuate based on what you’re redeeming them for, but you might only get $1 in rewards for every 200 points you earn.
- High interest. You’ll pay 19.9% interest on your outstanding balances and 19.9% interest on cash advances and balance transfers.
- Foreign transaction fees. You’ll have to pay 2.5% for currency conversion on every purchase you make abroad.
- Fees for additional cards. You’ll have to pay an annual fee of $15 for every additional card that you take out.
- Other fees. You’ll have to pay a number of other fees for taking advantage of certain services on your card.
- Travel insurance costs extra. You’ll have to pay an additional $109 to qualify for trip interruption and travel medical insurance.
What’s included in this card’s travel insurance add-on?
If you choose to pay an additional fee per cardholder, you can add travel insurance to your card. This includes the following:
- Emergency travel medical insurance. Get up to $1 million annually for unlimited trips of up to 17 days per trip.
- Trip cancellation. Cancel your trip prior to departure and get up to $2,000 to help cover your costs.
- Baggage delay or loss insurance. Get up to $750 to help pay for items that are lost, damaged or stolen in transit (and up to $200 for a baggage delay of 12 hours or more).
- Trip interruption/delay insurance. Get up to $2,000 to help cover unexpected expenses if your flight is delayed or cancelled by the airline.
What should I know before I apply?
To apply for an HSBC BusinessVantage Mastercard, you’ll need to meet the following criteria:
- Be a Canadian citizen or permanent resident
- Be at least 18 years old (and 19 in some provinces)
Required documents and information
- Your name, residential status and contact information
- Your social insurance number and date of birth
- Your email address and phone number
How to apply
- Head to the HSBC website.
- Fill out the HSBC BusinessVantage Mastercard application.
- Provide details such as your name, email address, social insurance number and birth date.
- Review and submit your application on the company website.
The HSBC BusinessVantage Mastercard is a low-cost credit card that you can use to track your business spending. It offers your choice of rewards or cashback, with the option to purchase additional travel insurance. That said, this card comes with relatively few benefits and you’ll have to pay extra for every card you take out.