Compare other cashback credit cards
The HSBC Cash Rewards Mastercard® credit card offers solid cash back: unlimited 1.5% cash rewards on all purchases. That’s less generous than, say, the Citi® Double Cash Card — but you won’t pay an annual fee for it. And if you like simple rewards, you might prefer the HSBC Cash Rewards Mastercard® credit card over a tiered cashback card like the Bank of America® Cash Rewards credit card.
You’ll wish the card offered an intro APR on purchases. Unfortunately, you get an intro APR only on balance transfers — albeit one that lasts a solid 15 months. And the card has a penalty APR when the HSBC Gold Mastercard® credit card (offer currently unavailable) doesn’t.
However, the HSBC Cash Rewards Mastercard® credit card redeems itself with a good signup bonus, no foreign transaction fees, solid travel and shopping benefits and a 10% anniversary bonus on all cash rewards earned once a year.
No annual fee or foreign transaction fees.
Use the card as much or as little as you want without worrying about an annual fee. Also, use the card internationally without incurring fees.
SIGNUP BONUS: $150 cash rewards.
Earn a $150 cash rewards intro bonus after spending $500 in the first 3 months.
INTRO APR: On balance transfers.
Enjoy 0% intro APR on balance transfers for the 15 months. After that, your APR reverts to 14.74%, 18.74% or 24.74% variable based on your creditworthiness.
CASH BACK: On all purchases.
Earn unlimited 1.5% cash rewards on all purchases.
Anniversary bonus on cash rewards.
Earn a 10% anniversary bonus on all cash rewards earned once a year.
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Get access to MasterAssist travel planning, roadside assistance, rental car insurance and travel accident insurance.
Enjoy extended warranties, purchase protection and price protection when shopping.
$0 liability for unauthorized purchases.
If your card is used fraudulently, you won’t be on the hook for payment.
What to watch out for
Potentially high APR.
Depending on your credit, you may see approval for a purchase and balance transfer APR as high as 14.74%, 18.74% or 24.74% variable .
If you pay late, you may be assessed a penalty APR of 31.74% variable. This APR applies for at least six months.
No grace period on balance transfers.
HSBC offers an interest grace period for purchases only.
Higher APR for cash advances.
Cash advances come with a 26.74% variable APR and no grace period on interest.
The card has no annual or foreign transaction fees, but you’ll pay fees for balance transfers and cash advances.
You’ll pay up to $37 for each late payment and up to $25 for each returned payment.
What should I know before I apply?
To apply for the HSBC Cash Rewards Mastercard® credit card, you must be at least 18 years old.
Information you’ll need
- Full name and contact information
- Residential status
- Annual income and employment information
- Social Security number, date of birth and mother’s maiden name
What credit score do I need?
You’ll have a better chance of approval for the HSBC Cash Rewards Mastercard® credit card if you apply with a good to excellent credit score of 680 or higher.
How long will it take to be approved?
You’ll typically hear back about your application within two weeks.
I got the card. Now what?
Make timely payments.
Pay your card bill online at the HSBC website, where you can also enroll in autopay.
After the close of each billing cycle, you have a grace period of 25 days to pay your purchase balance. If you do, you won’t pay interest.
Late and returned payments come with hefty fees of up to $37. Balance transfers and cash advances also come with fees.
If you have questions, contact HSBC customer service at 888-385-8916.
You may find better cash back with cards like the Citi® Double Cash Card or Bank of America® Cash Rewards credit card. But the HSBC Cash Rewards Mastercard® credit card is a formidable card in its own right, offering 1.5% cash rewards with no annual fee.