Best HSBC Credit Cards of 2019

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Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

HSBC Bank Snapshot

Headquartered in London, HSBC is one of the world’s largest financial institutions, serving more than 39 million customers around the globe. As part of the banking services they provide, HSBC issues a number of credit cards designed for people who want to earn rewards on their spending, we selected two of them to discuss here.

If you’re shopping around for a new credit card, you might be wondering why you should consider HSBC over another bank. Credit Sesame’s got some insight into which HSBC cards are among the best ones to have, in our opinion, so take a look to see if one might be a good fit for your wallet.

Editor’s note: We updated this article for 2019. The information, including card rates and fees, presented in this article is believed to be accurate as of the date of the article (original published date or it’s updated date, if applicable). Please refer to issuer website and application for the most current information.

Best HSBC Credit Cards at a Glance

Terms, conditions, limitations and restrictions apply to all offers. See HSBC website for rates, rewards, benefits and other information.

Card NameNew Account Introductory OfferRewardsAnnual FeeWho's Eligible?
HSBC Advance Mastercard® credit cardIntroductory offer: new HSBC Advance Mastercard® credit card customers earn an Introductory 3X Points on dining and select entertainment purchases plus 2X Points on all other purchases in the first 12 months from Account opening, up to the first $25,000 in purchases. After the Introductory points offer ends: Earn 2X Points on new net dining and select entertainment purchases, 1X Points on all other purchases.$0 annual fee during first year of Account opening; ongoing annual fee is $0 for qualifying U.S. HSBC Premier or Advance customers; otherwise, annual fee is $45Exclusive to U.S. HSBC Premier or Advance customers
HSBC Platinum Mastercard® with Rewards credit cardIntroductory offer: new HSBC Platinum Mastercard® with Rewards credit card customers earn an Introductory 3X Points on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases. After the Introductory points offer ends: Earn 1X Points for every dollar in new card purchases.$0 annual feeAll U.S. HSBC customers
Additional Notes:Terms applyTerms applyTerms applyTerms apply

HSBC Credit Card Basics

HSBC offers credit cards suited to just about every type of spender. Some are designed for people who spend primarily on dining and entertainment. Some have a straightforward cash back rewards program.

None of HSBC’s credit cards charges a foreign transaction fee, which is a huge plus if you need to use a credit card outside the U.S. Some cards have no annual fee, while others eliminate the annual fee requirement for HSBC customers who have a qualifying checking account with HSBC. To get a better grip on how each card stacks up, we’ve broken down all the details for you. Keep reading because we’ll also compare HSBC’s cards to some of the other top rewards cards on the market.

Card #1: HSBC Advance Mastercard® credit card

We think it’s best for: People who spend big on dining and entertainment

Card features we want to highlight:

  • Introductory offer: new HSBC Advance Mastercard® credit card customers earn an Introductory 3X Points on dining and select entertainment purchases plus 2X Points on all other purchases in the first 12 months from Account opening, up to the first $25,000 in purchases. After the introductory points period ends, you earn 2X Points on new net dining and select entertainment purchases, 1X Points on all other purchases.
  • No annual fee for customers who have a qualifying U.S. HSBC Advance or U.S. HSBC Premier checking account relationship

The HSBC Advance Mastercard® credit card offers rewards on dining and select entertainment purchases to U.S. HSBC Advance customers and Premier customers. With this card, there is an introductory offer: new HSBC Advance Mastercard® credit card customers earn an Introductory 3X Points on dining and select entertainment purchases plus 2X Points on all other purchases in the first 12 months from Account opening, up to the first $25,000 in purchases. After the introductory points period ends, you earn 2X Points on new net dining and select entertainment purchases, 1X Points on all other purchases.

Redeem your points for cash in the form of a statement credit on your HSBC Credit Card or as a direct deposit into your HSBC Bank USA, N.A. consumer Checking or Savings Account. For eligibility details, refer to the HSBC Advance Mastercard® credit card Rewards and Benefits brochure and Mastercard Guide to Benefits brochure, which will be supplied to all new customers following the receipt of their card. Keep in mind that all reward option items are subject to limited availability and subject to the terms, conditions and restrictions imposed by suppliers (if applicable). Redemption levels, Points values, and availability are subject to change without prior notice.

To apply, you need to have an existing U.S. HSBC Advance checking account relationship. To qualify for a U.S. HSBC Advance checking account relationship – maintain a combined U.S. personal deposit and investment balance of $10,000 in your U.S. HSBC account; or a balance of at least $5,000 with a recurring third-party direct deposit into your U.S. HSBC Advance Checking account at least once per calendar month; or if you have any HSBC U.S. residential mortgage loan. Business owners may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal HSBC Advance relationship. As for the checking account, there will be a monthly maintenance fee of $25 if one of the requirements are not maintained. For a list of HSBC Advance Relationship eligibility requirements please visit the HSBC website or contact an HSBC Branch Representative.

And lastly you can apply if you have an existing U.S. HSBC Premier relationship. To qualify for a U.S. HSBC Premier relationship – you need to open a U.S. HSBC Premier checking account and maintain balances of at least a total of $75,000 in U.S. Dollar personal deposit accounts and/or HSBC investment balances; or have recurring direct deposits totaling at least $5,000 from a third party to an HSBC Premier checking account(s) per calendar month; or any HSBC U.S. residential mortgage loan with an original loan amount of at least $500,000. As for business owners, they may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal U.S. HSBC Premier relationship. As for the checking account, there will be a monthly maintenance fee of $50 if one of the requirements are not maintained. For a list of HSBC Premier Relationship eligibility requirements please visit the HSBC website or contact your Relationship Manager.

The annual fee will not be assessed to your credit card Account within the first year of Account opening. On an ongoing basis you’ll pay nothing for the annual fee as long as you have a qualifying U.S. HSBC Advance or U.S. HSBC Premier checking account relationship. A $45 annual fee will apply for HSBC Advance Mastercard® credit card Account customers who no longer have a qualifying U.S. HSBC Advance or U.S. HSBC Premier checking account relationship.

Terms apply.

Card #2: HSBC Platinum Mastercard® with Rewards credit card

We think it’s best for: People who don’t spend as often but still want rewards

Card features we want to highlight:

  • Introductory offer: new HSBC Platinum Mastercard® with Rewards credit card customers earn an Introductory 3X Points on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases. After the introductory points period ends, earn 1X Points for every dollar in new card purchases.
  • No annual fee

We think the HSBC Platinum Mastercard® with Rewards credit card is good for anyone who likes to keep things simple. This card has no annual fee and you don’t need an Advance or Premier Checking account to be eligible to apply. Qualifying new Cardmembers have an opportunity to earn an Introductory 3X Points on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases. After the introductory points period ends, earn 1X Points for every dollar in new card purchases.

You can redeem your points for cash in the form of a statement credit on your HSBC Credit Card or as a direct deposit into your HSBC Bank USA, N.A. consumer Checking or Savings Accounts in your name alone or as a joint accountholder. Other forms of  redemption can be reviewed when you receive your HSBC Platinum Mastercard® with Rewards credit card Guide to Benefits and Terms & Conditions brochure. Keep in mind that all reward option items are subject to limited availability and subject to the terms, conditions and restrictions imposed by suppliers (if applicable).

When you’re considering redemption options, read through the terms and limitations carefully so you understand what the rules are and how much value your points have. The good news is your points have no expiration so you can let them pile up until you’re ready to use them.

Terms apply.

HSBC Credit Cards vs. the Competition

While HSBC gives you a range of cards to choose from, it’s a good idea to look at cards from other banks as well. Before you make your final choice, check out a couple of alternatives we thought may interest you.

Chase Sapphire Preferred® Card

Card features we want to highlight:

  • Earn 2X points on travel and dining at restaurants and 1 point per dollar spent on all other purchases worldwide
  • Eligible new Cardmembers – earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
  • The annual fee is $95
  • No foreign transaction fee

The Chase Sapphire Preferred® Card has a lot to like if you’re a frequent traveler. This card offers 2X points on travel and dining at restaurants and 1 point per dollar spent on all other purchases worldwide. Points are transferable on a 1:1 basis to select leading airline and hotel loyalty programs.

You also get 25% more in travel redemption value when you redeem your points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For instance, 60,000 points are worth $750 toward travel when you redeem those points through Chase Ultimate Rewards®. The $95 annual fee is a bit pricey but you can earn that back, based on your spending habits, if you’re using the card to purchase airline tickets, book hotel stays or dining at restaurants regularly.

Terms apply.

Discover it® Cash Back

Card features we want to highlight:

  • Cash back rewards program – earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, and more up to the quarterly maximum, each time you activate
  • Plus, earn unlimited 1% cash back on all your other purchases using your Discover it® Cash Back card
  • There is an introductory offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically, for new cardmembers only. There’s no signing up and no limit to how much is matched.
  • There is no annual fee

The Discover it® Cash Back card offers 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, and more up to the quarterly maximum, each time you activate. Plus, earn unlimited 1% cash back on all your other purchases using your Discover it® Cash Back card.

For icing on the cake, the Discover it® Cash Back card has an introductory offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically, for new cardmembers only. This introductory offer does not require signing up and there’s no limit to how much cash back Discover will match.

Terms apply.

Should You Get an HSBC Credit Card?

If you’re an HSBC customer already, choosing an HSBC credit card may seem like a no-brainer. It’s still a good idea, however, to look at a variety of cards before you settle on one to make sure your choice complements your spending style. If you need a little more information Credit Sesame’s credit card marketplace is a resource you can use to compare different card options from our credit card partners.


Independent Review Disclosure: All the information about the HSBC Advance Mastercard® credit card and HSBC Platinum Mastercard® with Rewards credit card has been collected independently by CreditSesame.com and has not been reviewed or provided by the issuer of these cards. The HSBC Advance Mastercard® credit card and HSBC Platinum Mastercard® with Rewards credit cards are not available through CreditSesame.com.

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Provider’s Terms: *See the online provider’s application for details about terms and conditions. Reasonable efforts have been made to maintain accurate information, however, all information is presented without warranty or guarantee. When you click on the “Apply Now” button, you can review the terms and conditions on the provider’s website. Offers are subject to change and the terms displayed may not be available to all consumers.

The information, including card rates and fees, presented in this article is believed to be accurate as of the date of the article. Please refer to issuer website and application for the most current information. Verify all terms and conditions of any offer prior to applying.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Reviews: User reviews and responses are not provided, reviewed, approved or otherwise endorsed by the banks, issuers and credit card advertisers. It is not the banks, issuers, and credit card advertiser’s responsibility to ensure all posts are answered. The Credit Sesame website star ratings are an average based on contributions from independent users not affiliated with Credit Sesame. Banks, issuers and credit card advertisers are not responsible for star ratings, nor do they endorse or guarantee any posted comments or reviews.

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Published October 25, 2016
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