HSBC’s September 2023 offers on its suite of credit cards that earn HSBC Rewards points, including the flagship HSBC World Elite® Mastercard®, the mid-tier HSBC +Rewards™ Mastercard®, and the entry-level HSBC Travel Rewards Mastercard®, are set to expire soon.
As per usual, the offers are divided into two separate offers: one for non-Quebec residents and one for Quebec residents.
If you haven’t yet, be sure to have a look at the below offers, and consider applying before September 29, 2023.
HSBC World Elite® Mastercard® Non-Quebec Offer: Up to 50,000 Points* + First Year Free*
The offer on the HSBC World Elite® Mastercard® for non-Quebec residents is as follows. The primary cardholder’s annual fee of $149 is rebated for the first year*, and you’ll earn the following as a welcome bonus:
- 20,000 HSBC Rewards points* upon completing your first purchase
- 30,000 HSBC Rewards points* upon spending $1,000 within 60 days of account opening
- Total of up to 50,000 HSBC Rewards points*
It’s worth noting that this is a drop from the welcome bonus of up to 80,000 HSBC Rewards points from Summer 2023. However, the minimum spending requirement is much lower this time around, since it requires only $1,000 total in the first two months*, versus $1,000 in each of the first six months as it was before.
At a minimum, HSBC Rewards points are worth 0.5 cents per point each when redeemed against eligible travel purchases made using your HSBC credit card, at a ratio of 200 HSBC Rewards points = $1. Eligible travel purchases include those made from merchants that are classified in the Mastercard network as airlines, car rental agencies, hotels, cruise lines, passenger railways, tour operators, timeshares, and travel agencies.
Therefore, the 50,000 HSBC Rewards points you’d earn in the first year would already be worth at least $250 when redeemed as a statement credit against an eligible travel purchase.
In terms of the returns on daily spending, the HSBC World Elite Mastercard has the following category bonuses:
- 6 HSBC Rewards points per dollar spent on eligible travel purchases*
- 4 HSBC Rewards points per dollar spent on eligible groceries, gas, and drugstores*
- 2 HSBC Rewards points per dollar spent on all other eligible purchases*
There’s also the $100 annual travel enhancement credit* that comes with this card, which is easy to redeem against incidental purchases along your travels (like baggage fees and seat selection fees). There are also many reports that the credit can be redeemed against other common travel expenses, such as Aeroplan award taxes and Expedia hotel bookings, too.
Combined with the $250 minimum valuation of the welcome offer, the total minimum value that can be derived from the HSBC World Elite® Mastercard® for non-Quebec residents rises to $350 in the first year.
However, keep in mind that HSBC Rewards points earned on the World Elite product are also transferable to British Airways Executive Club, Cathay Pacific Asia Miles, and Singapore Airlines KrisFlyer, which can be useful for booking business class and even First Class flights.
HSBC World Elite® Mastercard® Quebec Offer: Up to 80,000 Points*
Unlike the non-Quebec offer for the HSBC World Elite® Mastercard®, the primary cardholder’s first-year annual fee of $149 is not rebated, and you’ll have to pay the annual fee on the first statement. However, there’s a larger welcome bonus to make up for it, which is granted as follows:
- 20,000 HSBC Rewards points* upon completing your first purchase
- 60,000 HSBC Rewards points* upon keeping your account open and in good standing for 60 days
- Total of up to 80,000 HSBC Rewards points*
That’s right, Quebec residents can earn the full bonus without a minimum spending requirement of any kind.
By simply buying a pack of gum and keeping the card open and in good standing for 60 days*, you’ll receive a total of 80,000 HSBC Rewards points*.
80,000 HSBC Rewards points are worth $400 when redeemed directly against eligible travel purchases. However, when considering the value of the offer, we must then subtract the $149 annual fee (which is not rebated in Quebec) to arrive at a valuation of $251.
Then, adding the $100 annual travel enhancement credit* into the mix, Quebecers can expect to extract at least $351 in value from the HSBC World Elite® Mastercard® in the first year.
Comparing the two offers, we see that Quebecers have to pay the first-year annual fee in exchange for receiving a higher signup bonus without a $1,000 minimum spending requirement.
Conversely, non-Quebec residents must spend towards their welcome bonus, but they enjoy a first-year annual fee rebate in return.
HSBC +Rewards™ Mastercard® Non-Quebec Offer: 35,000 Points + First Year Free*
The HSBC +Rewards™ Mastercard® is a mid-tier card that comes with a lower annual fee compared to the HSBC World Elite® Mastercard®.
The offer for non-Quebec residents is as follows. The primary cardholder’s $25 annual fee is rebated for the first year*, and you’ll earn the following as a welcome bonus:
- 35,000 HSBC Rewards points* upon spending $1,000 within 60 days of account opening
When redeemed against eligible travel expenses, this welcome bonus is worth at least $175, and the card also comes with an annual fee rebate for the first year.
In terms of the earning rates for daily spending, the HSBC +Rewards™ Mastercard® has the following category bonuses:
- 2 HSBC Rewards points per dollar spent on eligible dining and entertainment purchases*
- 1 HSBC Rewards point per dollar spent on all other eligible purchases*
While the welcome bonus and the earning rates aren’t quite as strong as what’s offered on the HSBC World Elite® Mastercard®, it’s certainly worth considering if you don’t meet the minimum income requirement for the flagship card.
HSBC +Rewards™ Mastercard® Quebec Offer: 40,000 Points*
The Quebec offer for the HSBC +Rewards™ Mastercard® doesn’t come with a first-year annual fee rebate; however, the welcome bonus is slightly higher to make up for it.
If you apply and are approved for the card before September 29, 2023, you’ll earn the following welcome bonus in Quebec*:
- 40,000 HSBC Rewards points* upon keeping your account open and in good standing for 60 days*
When redeemed against eligible travel expenses, this welcome bonus is worth at least $200.
As we see with the structure of the different offers available on the HSBC World Elite® Mastercard®, the Quebec offer for the HSBC +Rewards™ Mastercard® has a welcome bonus that’s worth the equivalent of the annual fee.
When redeemed against eligible travel expenses, the extra 5,000 HSBC Rewards points are worth a minimum of $25, which also happens to be the annual fee for the card.
HSBC Travel Rewards Mastercard® Non-Quebec Offer: 20,000 Points*
The HSBC Travel Rewards Mastercard® is an entry-level credit card in the HSBC Rewards ecosystem. With no annual fee, it’s a great option for anyone who’s looking to earn HSBC Rewards points without incurring any fees.
Currently, the welcome bonus on the HSBC Travel Rewards Mastercard® is as follows*:
- 20,000 HSBC Rewards points* upon spending $1,000 within 60 days of account opening*
When redeemed against eligible travel expenses, this welcome bonus is worth at least $100, and comes without any fees whatsoever.
In terms of the earning rates for daily spending, the HSBC Travel Rewards Mastercard® has the following category bonuses:
- 3 HSBC Rewards points per dollar spent on eligible travel purchases*
- 2 HSBC Rewards points per dollar spent on eligible gas and daily transportation services*
- 1 HSBC Rewards point per dollar spent on all other eligible purchases*
As a no-fee card, the HSBC Travel Rewards Mastercard offers relatively strong earning rates. In fact, the category bonus for eligible travel purchases is higher than that on the HSBC +Rewards™ Mastercard®.
HSBC Travel Rewards Mastercard® Quebec Offer: 20,000 Points*
The Quebec offer for the HSBC Travel Rewards Mastercard® is nearly identical to that of its non-Quebec counterpart.
Since the card has no annual fee to begin with, the welcome bonus is the same; however, it comes without a minimum spending requirement, as we see with the other Quebec offers listed above.
Currently, the Quebec offer on the HSBC Travel Rewards Mastercard® is as follows*:
- 20,000 HSBC Rewards points* upon keeping your account open and in good standing for 60 days*
By simply opening your account and keeping it in good standing for 60 days, Quebecers can enjoy at least $100 worth of value from the welcome bonus* this time around.
Conclusion
The September 2023 offers on HSBC’s suite of cards that earn HSBC Rewards are about to expire. This includes the offers on the flagship HSBC World Elite® Mastercard®, the mid-tier HSBC +Rewards™ Mastercard®, and the entry-level HSBC Travel Rewards Mastercard®.
The current round of offers are available until September 29, 2023, and it’s important to note that the offers differ for residents of Quebec and anyone who resides elsewhere in Canada.
Depending on your travel goals and income level, there should be an HSBC credit card to suit your needs. HSBC Rewards points are a valuable points currency to have, since you can redeem them for a statement credit, or for points earned on the HSBC World Elite® Mastercard®, you can transfer them to three airline partners.
If any of the above offers pique your interest, be sure to apply before September 29, 2023.
*Terms and Conditions apply
®/TM Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to licence.