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How to use HSBC RewardCash?

The usage of RewardCash, Red Hot Rewards earning guide, and shops’ offers

Smart spenders might have already gotten on board with credit cards‘ air miles rewards. However, even at the same credit card company, different credit cards have different rewards and offers. Among them, the RewardCash system of HSBC credit cards is the most complicated. For example, basic RewardCash allows you to exchange HKD25 spending to 1 air mile. But if you have the right credit card and make good use of the Red Hot Rewards scheme, you can earn 1 air mile by spending just HKD1.79. The difference is almost 8 folds! With this article, GoBear is going to introduce the Red Hot Rewards scheme and give you all the tips and tricks to earn as much RewardCash as possible!


What is RewardCash?

RewardCash is the rebate of HSBC credit cards. To put it simply, for every HKD250 spending, you can earn HKD 1 RewardCash (equal to 1x or 0.4% rebate). RewardCash can be used in many ways:

“Red Hot Rewards” (Rewards of Your Choice) – earn extra RewardCash rebate

*You may register from 1 January 2022. Credit card holders must register before 31 December to participate in this scheme.*

Rewards of Your Choice scheme is a reward scheme for HSBC credit cards. You may freely allocate your RewardCash in five preferred spending categories and earn up to 2.4% RewardCash rebate.

How to register for Rewards of Your Choice scheme?

You may register for the next Rewards of Your Choice scheme from 1 January 2022 by signing in on the HSBC Red Hot Rewards website and fill in the registration form. You can choose the preferred spending categories and determine how much rebate you can enjoy in each category. You can start earning extra RewardCash three working days after registration.

HSBC Reward+ app to manage your RewardCash

The HSBC introduced Reward+ app for credit card holders to manage your credit cards with just one application. You can browse the latest offers and manage credit card transactions conveniently with the app.


Latest offers

You may register via the HSBC Reward+ App.


How to earn more RewardCash?

To earn as much RewardCash as possible, you must first register for Red Hot Rewards of Your Choice scheme to earn up to 2.4% RewardCash rebate (which equals to 5x RewardCash). Then according to your personal spending habits, you can allocate your RewardCash among your five preferred spending categories. For example, if you often go to a supermarket to shop, then you can allocate your Reward to the Home category to earn up to 2.4% rebate. Here’s a reminder, if the global pandemic has not subsided next year, you likely won’t have a chance to travel around the world, then you can consider allocating the RewardCash from Overseas category to other categories.

DiningYou can earn extra RewardCash at restaurants in Hong Kong. This is the most popular category. Many people choose this category, turning the credit card into a “dining card” and pay for meals with friends.

* Terms and conditions are applicable

Health and LeisureYou can earn extra RewardCash by going to the cinema and karaoke, or by spending at any entertainment hotspot. Young people who go out a lot with friends can choose this category.

List of merchants is as follows:

Cinemas: CGV Cinemas, Emperor Cinemas, Festival Grand Cinema, Golden Harvest, MCL Kornhill Cinema, Grand Windsor Cinema, MCL Cinemas, Movie Town, StagE, STAR Cinema, the sky

Beauty and health﹕BEAUTY AVENUE, @cosme STORE*, Fitness First*, HealthPlus, Nam Pei Hong, OSIM, OTO, PURE Fitness, PURE Yoga, Sasa, Watsons

Entertainment and leisure﹕ABC Cooking Studio, Bake For You*, CEO, Cityline, EF English Centers, Greenery Music, KK BOX, Moov, Neway, Tom Lee Music, Ocean Park Hong Kong

HomeYou can earn extra RewardCash in all major supermarkets, household store, and electronic appliances stores. This category is most suitable for housewives who are always looking for ways to save.

List of merchants is as follows:

Supermarkets﹕759 Store, ParknShop, FUSION, TASTE, INTERNATIONAL, food le parc, GOURMET, GREAT FOOD HALL, SU-PA-DE-PA, FRESH Concept store, Hong Kong Flavour, Ztore

Telecommunication companies﹕1O1O, 3HK, csl, SmarTone

Homeware stores: at.home*, DORMiRE *, Francfranc, KeyChain Pay, Life Kan*, Life@Home*, Pricerite, Ulfenbo *, Ulferts *

Electronic appliance stores:AV Life, Broadway, BRUNO, Chung Yuen, Dyson*, FORTRESS, Life Digital, Ninki Denki, Panasonic showroom, Suning, WaiMing Electrical, Wilson, YOHO

LifestyleSpending at department stores, travel agencies, or shops like UNIQLO and Marathon can earn you extra RewardCash. Most suitable category for shopaholics.

List of merchants is as follows:

Department stores: AEON, AEON STYLE, AEON SUPERMARKET, APITA, Bento Express by AEON, Chinese Arts & Crafts, Citistore, CitiLife*, city’super, city’super LOG-ON, LOG-ON, Guu San, HKTVmall, La Bohéme, Living PLAZA by AEON, Mono Mono*, Sincere, SOGO Hong Kong, UNY, Wing On, YATA department store, YATA supermarkets, YATA KONBINI*

Retail stores:

7 For All Mankind, agnès b., b. FLEURISTE, Catalog, Chung Hwa Books, D-mop, ECCO, Eslite, GigaSports, GU, Green Common*, innisfree, J-01, Joint Publishing, Marathon, MARKS & SPENCER, New Era, ROCKPORT, SKECHERS, SLOWOOD, SPORT B., Commercial Press, Theory, TWIST, UGG, UNIQLO, Watson’s Wine、Y-3, ZALORA, Zoff

Travel agencies﹕Hong Thai Travel, hutchgo.com, Klook, Miramar Travel1, Sunflower Travel, Wingon Travel, TMY Travel

Overseas and Mainland China Spending You can enjoy extra RewardCash with spending in overseas, mainland China, and Macau. Most suitable category for travel addicts.

*New participating merchants


The best credit cards for Red Hot Rewards of Your Choice scheme

HSBC credit cards provide several choices of rewards. Therefore, in order to earn as much RewardCash as possible, you can review your average spending pattern before you choose which card to apply. GoBear has several recommendations: (just a reminder: the newly released HSBC Red Card is not included in the Red Hot Rewards of Your Choice scheme)

GoBear’s recommendations

For tertiary studentsFor frequent travellers to the mainland For the ladies of the house
HSBC Visa Gold Card for StudentsHSBC Pulse UnionPay Dual Currency Diamond Credit CardHSBC Visa Platinum Card
Exclusive offer-Earn up to 4.4% RewardCash rebate through the Red Hot Rewards of Your Choice scheme and Red Hot Online and Overseas Spending Rewards

–Earn up to 6 times RewardCash, which equals to 2.4% rebate through Red Hot Rewards of Your Choice

–Regardless of dining, shopping, or leisure, UnionPay provides all-rounded offers

–Exemption from RMB or MOP transaction fee

–Earn up to 6 times RewardCash, which equals to 2.4% rebate through Red Hot Rewards of Your Choice’s spending categories

–Earn 1x RewardCash, which equals to 0.4% rebate through selected online bill payment

Welcome offersSpending reaching HKD2,000 will be awarded HKD300 Reward Cash rebate as a welcome giftWelcome gift amounts up to HKD800 RewardCashWelcome gift amounts up to HKD900 RewardCash
Top tips for earning points–Tuition payment can earn up to 2.4% rebate, earning as much as HKD400 RewardCash

–Through Red Hot Rewards of Your Choice spending category, online and overseas spending, you can enjoy up to 6x RewardCash or up to 2.4% rebate

-Through Red Hot Online and Overseas Spending Rewards, you can earn up to 5x rewards/2.0% rebate. There is no minimum spending requirement

-Spending in mainland China can earn 2.4% rebate by assigning your spending to “Overseas and Mainland China Spending” category of the Red Hot Rewards of Your Choice scheme

-Shop online for homeware can earn 2.0% rebate through Red Hot Online and Overseas Spending Rewards

–Spending in supermarket or pharmacy can earn 2.4% rebate by assigning your spending to “Home” category of the Red Hot Rewards of Your Choice scheme


How to earn up to 9x ultimate RewardCash?

he way to earn the most RewardCash is to apply for HSBC VISA Signature Card. Even though this card has a higher entry barrier, requiring a minimum annual income of HKD360,000 or asset of over HKD400,000, it is the most rewarding. If you assign your extra 2.4% RewardCash rebate (5x) to one spending category in the Red Hot Rewards of Your Choice scheme, all your subsequent spending within the scheme can earn extra 3x rewards, which equals to 9x rewards/3.6% rebate.

Online and overseas spending through this credit card can earn up to 5.6% RewardCash rebate, including an extra 2% rebate. This is a magical tool to earn air miles when travelling!

Exclusive offers

  • Earn up to 9x RewardCash through the Red Hot Rewards of Your Choice scheme, which equals to 3.6% rebate
  • RewardCash can be exchanged into mileage (as low as HKD1.79 = 1 mile), gifts or cash vouchers
  • 15% off dining in the café, Hugo’s, and the Chinese Restaurant of Hyatt Regency Hong Kong, Tsim Sha Tsui
  • 30% off limousine service between Hong Kong and Guangdong, China
  • Welcome gift can reach up to HKD800 RewardCash

**From now until 31 Aug 2022, successfully apply for an HSBC Visa Signature Card and cumulatively spend HKD10,000 in eligible transactions with the card to earn up to $1,960 RewardCash (equivalent to up to 19.6% rebate) together with our year-round ‘Red Hot Rewards of Your Choice’ programme and limited-time offers. **


RewardCash FAQ

Of course, apart from HSBC credit cards, other credit cards have many special offers. Use Finder Credit Cards to compare them!

Compare credit cards in Hong Kong

1 - 19 of 19
Name Product Annual Fee Fee Waiver Annual Interest Rate Minimum Annual Income
DBS Black World Mastercard
DBS Black World Mastercard
HK$2,800
Yes
36.33%
HK$240,000
Ends on 02 January 2023: Enjoy a first-year annual fee waiver and earn up to 80,000 miles. T&Cs apply.
American Express Explorer Credit Card
HK$1,800
Yes
37.67%
HK$300,000
DBS Live Fresh Credit Card
DBS Live Fresh Credit Card
HK$1,800
Yes
36.33%
HK$150,000
Ends on 02 January 2023: Enjoy $0 annual fee for the first year and rewards worth up to HK$600 from “InstaRedeem”, or HK$1,000 Klook Rewards for specific spending requirement. T&Cs apply.
DBS Compass Visa Credit Card
DBS Compass Visa Credit Card
HK$1,800
Yes
36.33%
HK$100,000
Ends on 02 January 2023: Save with $0 first-year annual fee and HK$400 Local Supermarket “InstaRedeem” amount. T&Cs apply.
Citi Rewards Card
HK$1,800
No
35.51%
HK$120,000
Ends 31 October 2022: Get HK$800 Wellcome Supermarket and Lifestyle Supermarkets Shopping Voucher when you spend at least HK$8,000 in the first 2 months and 75,000 Points when you meet the spend requirement.
Citi Rewards UnionPay Credit Card
Citi Rewards UnionPay Credit Card
HK$1,800
No
35.51%
HK$120,000
Ends 31 October 2022: Earn a HK$800 Wellcome Supermarket and Lifestyle Supermarkets Shopping Voucher when you spend at least HK$8,000 in the first 3 months plus an extra HK$200 cash rebate.
Citi Octopus Platinum Credit Card
HK$1,800
Yes
35.51%
HK$120,000
Ends 31 October 2022: HK$700 Cash Rebate when you spend HK$8,000 or more in the first 3 months or HK$300 cash rebate with a minimum spend of HK$1,000 in the first 3 months (must include at least 1 HK$500 auto-reload transaction).
Citi PremierMiles Card
HK$1,800
No
35.51%
HK$120,000
Ends 31 October 2022: Get 9,000 Miles (108,000 Points) when you spend HK$8,000 or more in the first 3 months.
Citi Prestige Card
HK$3,800
No
35.51%
HK$600,000
Ends 31 October 2022: Receive 240,000 Points (20,000 Miles), a complimentary hotel stay on the fourth night and Priority Pass airport lounge access.
Citi Cash Back
HK$1,800
No
35.51%
HK$120,000
Ends 31 October 2022: Offers $700 Cash Rebate when you spend at least $8,000 within the first 3 months from card approval.
Citi HKTVmall Credit card
Citi HKTVmall Credit card
HK$1,800
No
35.51%
HK$120,000
Ends 31 October 2022: Apply to get HK$1,200 HKTVmall Gift Voucher. Refer now to get HK$500 cash rebate for each referral. Transactions at HKTVmall on Thursday are given an instant 5% discount. For spending at other merchants, 5X points every Monday.
CNCBI GBA Dual Currency Credit Card
CNCBI GBA Dual Currency Credit Card
HK$1,800
Yes
34.49%
HK$150,000
Ends on 31 December 2022. Up to HK$1,000 or 15% cash rebate on Wechat Pay/ UnionPay QuickPass and RMB spending in the first 5 months.
CNCBI Motion Credit Card
CNCBI Motion Credit Card
HK$1,200
Yes
34.49%
HK$150,000
Ends on 31 December 2022. Up to HK$1,000 or 12% cash rebate on eligible dining and online spending in the first 5 months.
WeWa UnionPay Diamond Credit Card
WeWa UnionPay Diamond Credit Card
HK$800
Yes
31.97%
HK$150,000
From now until 28 Feb 2023: Enjoy the below welcome gift (choose 1): De’Longhi Pump-Driven Espresso Coffee Machine (RRP HK$2,048), LG monitor (RRP HK$1,450), HK$500 Cash Rebate or up to HK$90,000 Interest-Free and Handling Fee-Free Cash Instalment Plan Program. Extra offer: successful application online by 30 Sep 2022 gives you a HK$400 cash rebate. T&Cs apply.
BEA i-Titanium Card
BEA i-Titanium Card
HK$600
Yes
36.43%
HK$40,000
Save with $0 annual fee for the first year. Enjoy 12% rebate on designated mobile payment spending and 3.4% rebate on online purchase.
BEA World Mastercard
BEA World Mastercard
HK$1,800
Yes
36.43%
HK$120,000
Offers HK$500 cash rebate when you spend at least HK$5,000 on local/ overseas purchases, and/or on cash advances in the first 2 months. Plus, an extra 2% cash rebate (up to HK$1,500) on eligible retail spending.
Standard Chartered Simply Cash Visa Card
HK$2,000
No
35.7%
HK$96,000
Dah Sing British Airways Platinum Card
Dah Sing British Airways Platinum Card
HK$1,800
$0 annual fee for the first 2 years
35.7%
HK$150,000
HSBC Visa Signature Card
HSBC Visa Signature Card
HK$2,000
36.43%
HK$360,000
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