The HSBC Rewards Credit Card is issued on the Mastercard network so it's accepted at more than 50 million merchant locations across more than 210 countries and territories.
Approval for any credit card depends on your status. The representative APRs shown represent the interest rate offered to most successful applicants. Depending on your personal circumstances, the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
You can make manual repayments through HSBC's app by logging in to your online banking or over the phone (0345 7404 404). Alternatively, you may wish to set up a direct debit.
A direct debit protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee (£12) or losing any promotional rates as a result.
You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
How to apply
First, you can use Finder's eligibility checker to find out if you'd be likely to get approved for the HSBC Rewards Credit Card. This won't impact your credit score. If it's good news, you can then proceed to HSBC's online application, which takes 10–15 minutes to complete.
Frequently asked questions
What credit limit will I get with the HSBC Rewards Credit Card?
If HSBC is able to offer you this deal, the offer will specify a personalised credit limit based on HSBC's assessment of your situation. The minimum limit offered on this card is £500 and HSBC does not specify a maximum. Once you've had the card for a while and shown HSBC that you're reliable, you may wish to apply for a credit limit increase.
Can I withdraw cash using the HSBC Rewards Credit Card?
Although it's possible, withdrawing cash from a credit card account is generally not a good idea, as "cash-like transactions" (such as withdrawing cash at an ATM, getting cashback at the till, spending at a casino or buying currency) often incur steep fees and/or higher rates of interest.
The cash advance fee on the HSBC Rewards Credit Card is 2.99% (min. £3). For example, if you withdraw £50, you'll incur a fee of £3.00. Withdraw £250 and you'll incur a fee of £7.48.
The interest rate on this part of your balance will be 29.9%, which is 25% more than the standard purchase rate (chargeable from the day of the transaction – the card's usual "up to 56 days interest-free" grace period won't apply).
Can I transfer a balance from another HSBC-branded card to the HSBC Rewards Credit Card?
Can I manage the HSBC Rewards Credit Card from an app?
How much does it cost to use the HSBC Rewards Credit Card abroad?
Non-sterling transactions are subject to a 2.99% charge (which is very standard). For example, if you spend 200 euros (£171.22), it'll cost you around £5.12 in fees.
What is the minimum payment on the HSBC Rewards Credit Card?
Each month you must pay at least 2.5% of your balance at that point or £5.00 – whichever of the 2 figures is greater. So if you had, say, £180.00 outstanding, you'd pay £5.00, and if you had £800.00 outstanding, you'd pay £20.00.
Paying only the minimum required amount each month is generally not advisable as it tends to be a very expensive way to borrow money which can lead to persistent debt.
Can I request an additional HSBC Rewards Credit Card?
Yes, you can request one more. There's no fee for additional cards. Plus, with additional cards, you could earn points at a faster rate. Bear in mind that card debt accrued by additional cardholders is the sole responsibility of the account holder – not the additional cardholder.
Finder credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts score rewards credit cards to determine their value against similar products on the market. We look at a number of important factors, like welcome bonuses, introductory and ongoing earn-rates, any caps or restrictions on the points you can earn, plus the potential costs involved with running the card both in the short and longer term.
You can read more about our scoring criteria on our credit card methodology page.
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. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.