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HSBC Cash Rewards Mastercard®

Last updated: May 3, 2022
  • 12.5% Cash back (Non-QC)
  • $125 First-year value
Best offer is available publicly until October 31, 2022
Signup bonus:
Non-Quebec:
Earn an additional 12.5% cash back in the first six months, up to $1,000 in total purchases, for a total of $125 cash back

Quebec:
$125 cash back* upon keeping your account open and in good standing for the first six months
Annual fee:
$0
Earning rate:
1.5% cash back for online spending
1% cash back on gas, grocery, and drugstore purchases
0.5% cash back on all other eligible purchases
Insurance:
None

The main reason to get the HSBC Cash Rewards Mastercard is to build a relationship with HSBC and if you’re looking for a cash back card.

Bonuses & Fees

As a welcome bonus, the HSBC Cash Rewards Mastercard offers an additional 12.5% cash back in the first six months, up to $125 total cash back. This “additional” amount stacks on top of the regular cash back rate. Those in Quebec must keep their account open and in good standing for six months to earn $125 cash back*.

To earn the maximum possible welcome bonus, you’d have to spend 1,000; however, since it’s not an all-or-nothing threshold you’ll still earn some bonus rewards if you fall short.

This card has no annual fee, along with no fee for adding additional users. It’s an excellent option to keep around in the long run to support the longevity of your credit history and your relationship with HSBC.

* Terms and Conditions apply

®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.

Earning Rewards

The HSBC Cash Rewards Mastercard earns cash back at the following rates:

  • 1.5% cash back for all online purchases, up to $6,000 spent, equivalent to $90 cash back
  • 1% cash back on all gas, grocery, and drugstore purchases
  • 0.5% cash back on all other purchases.

Of note is the 1.5% cash back for online purchases, which would usually fall under “all other purchases” for other cards, so it would be worth optimizing that and earning your full $90 cash back.

Online purchases even includes things like streaming services, online subscriptions, and food delivery.

1% cash back on gas and grocery is fairly unremarkable, and you’re better served with a product like the BMO CashBack Mastercard, which offers 3% cash back on grocery.

Redeeming Rewards

Your cash back on the HSBC Cash Rewards Mastercard can be redeemed at any point, as long as there is a minimum of $25 in cash back on your account.

It can be redeemed online, and will be applied as a statement credit to your account.

Insurance Coverage

The HSBC Cash Rewards Mastercard is an introductory credit card, and comes with basic insurance benefits:

  • Mobile Device insurance (lost and damage) up to $1,000
  • Extended Warranty, doubles up to one year
  • Purchase Assurance with 90-day coverage in the event of loss, damage, or theft

Apply Now

As an introductory product, this credit card has no minimum income requirement.

Consider supporting Prince of Travel by applying for the card via our affiliate link below.

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