The HSBC Travel Rewards Mastercard is HSBC’s only rewards-earning credit card with no annual fee, making it an ideal option to both earn HSBC Rewards points at no cost as well as building a relationship with HSBC.
Bonuses & Fees
The HSBC Travel Rewards Mastercard’s current offer varies based on your province of residence.
If you’re based outside of Quebec, you’ll earn 25,000 HSBC Rewards points* upon spending $1,000 in the first six months (although you’ll still have to wait the full six months before receiving these points).
Meanwhile, Quebec residents can sign up for 25,000 HSBC Rewards points* upon keeping your account open and in good standing for six months.
Note that this card has no annual fee regardless of where you live, making it a great way to start building history with HSBC if you’re eyeing the HSBC World Elite Mastercard in the future.
* 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.
The HSBC Travel Rewards Mastercard offers 3 HSBC Rewards points per dollar spent on eligible travel including car rentals, flights, and even RV rentals and campground fees, up to a maximum of $6,000 spent equivalent to 18,000 HSBC Rewards points.
The card also offers 2 HSBC Rewards points per dollar spent on gas and transportation and 1 HSBC Rewards point per dollar spent on all other eligible purchases.
Given the fact that every 200 HSBC Rewards points can be redeemed towards $1 in travel purchases (more on that later), this means that you’re effectively getting a 1.5% return on travel purchases, a 1% return on gas and transportation, and 0.5% return on all other purchases.
HSBC Rewards points aren’t given much attention here in Canada, but they’re a very versatile points currency once you understand the rather convoluted way that everything’s set up.
There are no simple 1:1 ratios here. Instead, one of the best uses of HSBC Rewards points is cashing out for travel credits at a ratio of 200 HSBC Rewards points = $1.
You can also redeem HSBC Rewards points for statement credits at an inferior ratio, so I’d recommend avoiding this option and always redeeming against travel purchases instead.
The major strength of HSBC Rewards compared to the other Canadian banks’ in-house travel rewards program is that you don’t need to go via any sort of dedicated travel portal to redeem your points.
Indeed, you can book any travel with any provider – flights, trains, hotels, Airbnbs, car rentals, cruises, vacations, etc. – and offset it using HSBC Rewards points within 60 days of the purchase posting to your account.
Compared to many other banks, which force you to go through their own travel agency (sometimes while paying marked-up prices) in order to use your points, HSBC Rewards is therefore a much more flexible currency to use.
Perks & Benefits
The HSBC Travel Rewards Mastercard® has no meaningful perks or benefits to speak of.
The HSBC Travel 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
- Hotel burglary up to $1,000 per occurrence
- Baggage delay of $100 per day up to three days for delays 6 hours or more
- Trip interruption of $1,000 per insured up to $5,000 total per trip