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[REVIEW] HSBC +Rewards MasterCard

It has been a while since I last wrote about a new credit card being introduced to the Canadian market. It feels like the industry is due for a new card. Today, I will be looking at the HSBC +Rewards MasterCard. Right off the bat, I can tell you that it is a very minor addition to the industry, but it does help with the competition.

Below are the highlights of the card:

  • $25 annual fee
  • $10 annual fee for a supplementary cardholder
  • Earn 5,000 sign up bonus HSBC points (if you apply before December 16, 2019)
  • Earn 2 points for every $1 spent on dining and entertainment
  • Earn 1 point for every $1 spent on all other purchases

Note that this card is advertised as low cash advance (11.9%). But as you know, we at Pointshogger will always tell you to never get a credit card if you owe any sort of interest on the card. The reason is because any interest that you pay will nullify any rewards that you may earn. This credit card definitely does not offer more than 11.9% in rewards for every $1 spent.

That being said, let’s look at the positives of this card. What I do like about this card is that it add more options to their line of cards. I would say that this card is a good start, but if they are only offering such low multiplier bonuses on spending, I would have liked them to have zero annual fee. Until then, this card will not make it to my wallet.

Keep in mind that 1 HSBC point is worth less than 1 cent per point. One of the best value for their points is the ability to transfer to British Airways at a 25,000 HSBC points to 10,000 Executive Club Avios, which is actually a very low return.

So as mentioned earlier, this card is a good start, but a work in progress. I’m just glad that they introduced a new card to the industry!

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Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

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