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The HSBC +Rewards MasterCard is a great card for everyday use and entertainment.
If you apply, you can score 20,000 Points ($100 travel value) PLUS a full annual fee rebate for the Primary Cardholder for the first year ($25 value). Must apply by December 28, 2020. Conditions Apply.
This card allows you to earn 2 points per $1 spent on eligible dining and entertainment purchases as well as 1 point per $1 spent on everything else.
So if you’re the type that likes to spend on entertainment and trying out new restaurants, see how this card can be the one for you.
|HSBC Premier Checking Member FDIC||$450 Cash||Review|
Table of Contents
HSBC +Rewards MasterCard Summary
The HSBC +RewardsTM MasterCard® offers 20,000 Points ($100 travel value) PLUS a full annual fee rebate for the Primary Cardholder for the first year ($25 value). Must apply by December 28, 2020. Conditions Apply.
You'll earn 2X points for every $1 spent on eligible dining or entertainment purchases Earn 1X point for every $1 on all other everyday purchases
This card comes with an annual fee of $25.
This offer is only available to residents of Canada other than the province of Quebec. (Quebec residents eligible for separate offer).
|Bonus Available||20,000 Points ($100 travel value) PLUS a full annual fee rebate for the Primary Cardholder for the first year ($25 value). Must apply by December 28, 2020. Conditions Apply.|
|Ongoing Rewards/Benefits||2 points per $1 spent on eligible dining and entertainment
1 point per $1 spent on everything else
|Foreign Transaction Fees||2.5%|
|Airport Lounge Access||N/A|
|Annual Fee||$25; no annual fee first year with full annual fee rebate|
- Earn points on every purchase
- Low-interest rate of 11.9% on purchases, cash advances, and balance transfers
- Includes Purchase Assurance coverage
- Price Protection Service included
- Low points value
- Limited benefits
- Not available in Quebec
- Fee for additional cards
HSBC +Rewards MasterCard Offer
There are many ways to meet the spending requirements, but if you need help acquiring the points here are some ideas on meeting the spending requirements:
• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.
• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on what bank offers it.
• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.
As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
HSBC +Rewards MasterCard Benefits
- Optional travel insurance. Take advantage of travel insurance for an annual fee.
- Price protection. Save money with a price-match guarantee offered within two months of making a purchase.
- Zero liability protection. Avoid unauthorized or fraudulent purchases made with your card with zero liability insurance.
- Tap and pay. Pay instantly with Mastercard contactless payment and Apple Pay.
- Enhanced security. Use your Mastercard SecureCode to protect your information when shopping online.
- Worldwide acceptance. Shop with confidence when you travel overseas knowing that Mastercard is accepted worldwide.
HSBC Rewards MasterCard Top Features
The fact that this card has no income requirements whatsoever, combined with its low $25 annual fee that’s rebated for the first year, opens it up to more Canadians.
Although it is a low interest credit card, you are still able to earn some bonus points on your purchases. With this card, you can get 2 points for every $1 you spend on eligible dining and entertainment purchase, then 1 point for every $1 spent on everything else.
The HSBC +Rewards MasterCard offers a great 11.9% interest on purchases, balance transfers, and even cash advances. With this, you will be able to save a lot of money over time.
The HSBC +Rewards MasterCard is a great card if you’re looking for a low-interest credit card that allows you to earn points for every dollar that you spend. On top of that, it comes with various insurance coverage plans for the card as well as a low annual fee.
Earn rewards for each purchases made and earn up to 2 points per $1 spent on eligible purchases made with the card!
Alternative Credit Card Options
The Chase Freedom Unlimited Card offers a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases.
In addition, you can earn:
• Earn 5% cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year.
• Earn unlimited 1.5% cash back on all other purchases.
• Earn 5% on Chase travel purchased through Ultimate Rewards, 3% on dining and drugstores, and 1.5% on all other purchases.
There is no minimum to redeem for cash back & your cash back rewards do not expire as long as your account is open.
This card comes with no annual fee and you'll get a free credit score that is updated weekly with Credit JourneySM.
The Chase Sapphire Preferred Card offers 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards.
• 5X points on travel purchased through Chase Ultimate Rewards
• 3X points on dining
• 3X points on select streaming services and online grocery purchases
• 2X points on all other travel purchases
• 1X point per $1 spent on all other purchases
Enjoy new benefits such as a $50 annual Ultimate Rewards Hotel Credit and when you redeem your points for travel through Chase Ultimate Rewards, you'll get 25% more value!
You get unlimited deliveries with a $0 delivery fee & reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
This card carries a $95 annual fee.
The Chase Sapphire Reserve offers 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards.
Through December 31, 2021, gas station & grocery store purchases will also count towards earning your Travel Credit.
• 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually.
• 5X total points on air travel
• 3X points on other travel and dining
• 1 point per $1 spent on all other purchases
When redeeming your points for travel through Chase Ultimate Rewards, you'll get 50% more value.
This card does carry a $550 annual fee and there are no foreign transaction fees. However, you're able to earn a $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year & up to $100 application fee credit for Global Entry or TSA Pre✓®.
More on HSBC
• Chase Bank Bonuses. Chase usually offers the most sign-up bonuses out of all the big banks. Read up and enjoy several promotions for their Checking, Savings and Business accounts.
• HSBC Bank Bonuses. HSBC has some big value offers available for their Checking accounts. Some require hefty deposits to qualify. They also have an online Savings account offering a very competitive rate.
• Huntington Bank Bonuses. Huntington has Consumer Checking and Business Checking accounts available throughout the year.
• Discover Bank Bonuses. As an online bank, Discover offers high and competitive rates on their Savings, CD, and Money Market accounts. Enjoy excellent customer service nationwide.
• TD Bank Bonuses. TD Bank consistently offers great Checking account bonuses all year long. Savings account offers are less frequently available.