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 38 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 or cash in on a 0% introductory Annual Percentage Rate (APR) on purchases or balance transfers.

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 NameRewardsNew Account Introductory OfferAnnual FeeWho's Eligible?
HSBC Advance Mastercard® credit cardEarn 2X Rewards Program Points on dining and select entertainment purchases. Earn 1X Rewards Program Point on all other purchases.New credit card clients earn 25,000 Rewards Program Bonus Points worth $250 in gift cards after spending $1,500 in the first three months from credit card Account opening$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 cardEarn 1X Rewards Program Point for every dollar in new card purchases.New credit card clients earn 15,000 Rewards Program Bonus Points worth $150 cash back after spending $500 in new card purchases in the first three months from credit card Account opening$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. HSBC also offers cards for cash back lovers and cards for those who just want to get a great deal on the interest rate.

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:

  • Earn 2X Rewards Program Points per dollar spent on dining and select entertainment purchases
  • Earn 1X Rewards Program Point per dollar spent on all other purchases made with this Card
  • Introductory offer: new HSBC Advance Mastercard® credit card customers can earn 25,000 Rewards Program Bonus Points, worth $250 in gift cards, after spending $1,500 or more in new card purchases in the first 3 months from credit card Account opening
  • 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 who are looking to double their points-earning rate. With this card, earn 2X Rewards Program Points per dollar on net dining at restaurants and select entertainment purchases and 1X Rewards Program Points per dollar spent on all other purchases made with this Card. The 25,000 Rewards Program Bonus Points is worth $250 in gift cards to restaurants, movie theaters, and top retailers. Redemption levels, Points values, and availability are subject to change without prior notice.

To be eligible to apply, you’ll need to open or have an existing U.S. HSBC Advance checking account relationship and maintain a combined U.S. personal deposit and investment balance of $10,000 in your U.S. HSBC account. You can also be eligible to apply if you have a balance of at least $5,000 and a recurring third-party direct deposit into your Advance Checking account at least once per calendar month. Business owners may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal HSBC Advance relationship. There will be a monthly maintenance fee of $25 if the minimum balance or minimum balance with direct deposit requirement is not met.

And lastly you can be eligible to apply if you have a HSBC Premier relationship, which you need to open an HSBC Premier checking account and maintain balances of $100,000 in combined U.S. Dollar personal deposit accounts and HSBC investment balances. As for business owners, they may use their qualifying HSBC U.S. Dollar commercial balances to qualify for a personal HSBC Premier relationship. There will be a   monthly maintenance fee of $50 if the minimum balance requirements are not maintained.

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 15,000 Rewards Program Bonus Points, worth $150 cash back after spending $500 or more in new card purchases in the first 3 months from credit card Account opening
  • Earn 1X Rewards Program Point for every dollar in new card purchases.
  • Redeem points for cash back or choose from other redemption options including gift cards from popular retailers, merchandise and more
  • No annual fee

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. You have an opportunity to earn 15,000 Rewards Program Bonus Points, worth $150 cash back, after you spend $500 or more in new card purchases in your first 3 months from credit card Account opening.

Even though it’s not strictly a cash back card, 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. You can also redeem points for brand name merchandise, including electronics, luggage, kitchenware, sports gear and more or redeem points from a great selection of gift cards from popular retailers. Keep in mind that all rewards option items are subject to limited availability.

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
  • Earn 1 point per dollar spent on all other purchases
  • Eligible new Cardmembers earn 50,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening
  • $0 introductory annual fee for the first year; after that, the ongoing annual fee is $95
  • No foreign transaction fees

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 points are transferable on a 1:1 basis to select leading airline and hotel loyalty programs.

You also get 25% more value when you redeem for travel through Chase Ultimate Rewards®, for example, 50,000 points are worth $625 toward travel. There is a $0 introductory annual fee for the first year. The $95 ongoing 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.

Chase Freedom Unlimited®

Card features we want to highlight:

  • You earn unlimited 1.5% cash back on every purchase
  • Eligible new Cardmembers earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • There is no annual fee

The Chase Freedom Unlimited® Card makes earning cash back a breeze. Every dollar in net purchases earns you 1.5% cash back, with no cap on how much cash back you can earn. There’s no annual fee and if you qualify you earn $150 bonus cash back after you spend $500 on purchases in your first 3 months from account opening.

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 other purchases – automatically
  • 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 other purchases – automatically.

For icing on the cake, the Discover it® Cash Back card has an intro offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically, for new cardmembers only. This intro offer does not require any sign-ups 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.


Disclaimer: All the information about the Chase Sapphire Preferred® Card, 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 Chase Sapphire Preferred® Card, HSBC Advance Mastercard® credit card and HSBC Platinum Mastercard® with Rewards credit cards are not available through CreditSesame.com.

Disclosure: The credit card offers that appear on this site are from credit card companies from which this site may receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Credit Sesame is an independent comparison service provider. Reasonable efforts have been made to maintain accurate information throughout our website, mobile apps, and communication methods; however, all information is presented without warranty or guarantee. The editorial content on this page (including, but not limited to, Pros and Cons) is not provided by any credit card issuer. Any opinions, analysis, reviews, or recommendations expressed here are author’s alone, not those of any credit card issuer, and have not been reviewed, approved or otherwise endorsed by any credit card issuer. All images and trademarks are the property of their respective owners.

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.

See the online provider’s application for details about terms and conditions. Offers are subject to change and the terms displayed may not be available to all consumers. Please visit the provider’s site for current information and 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.

Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice.

You can trust that we maintain strict editorial integrity in our writing and assessments; however, we receive compensation when you click on links to products from our partners and get approved.
Published October 25, 2016
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