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HSBC Rewards Credit Card
The HSBC Rewards Credit Card offers a straightforward way to earn points on everyday spending, particularly appealing for existing HSBC account holders.
The HSBC Rewards Credit Card offers a straightforward way to earn points on everyday spending, particularly appealing for existing HSBC account holders.
Card details
Pros
- ✓ No annual fee for HSBC current account holders
- ✓ Earn 1 point for every £1 spent
- ✓ Flexible redemption options including travel and gift cards
- ✓ Widely accepted Mastercard network
Cons
- ✗ No sign-up bonus available
- ✗ Higher APR at 19.9% variable
- ✗ Requires a good credit score (700+)
- ✗ Limited to points earning on purchases only
🎯 Best For: This card is best for those who already bank with HSBC and want to earn rewards without an annual fee.
⚠️ Watch Out: Be cautious of the high APR if you carry a balance; it's advisable to pay off purchases in full each month.
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Expert Review
The HSBC Rewards Credit Card stands out due to its lack of an annual fee for current account holders, making it accessible for those who already bank with HSBC. The rewards structure is simple, allowing cardholders to earn 1 point for every £1 spent, which can be redeemed for various options like travel, gift cards, or statement credit. However, potential applicants should note the absence of a sign-up bonus, which is a common feature among many competing cards.
Additionally, the card comes with a relatively high APR of 19.9% variable, making it less favourable for those who may carry a balance. A good credit score of 700 or above is required, which may limit access for some consumers. Overall, while the HSBC Rewards Credit Card is a solid choice for existing HSBC customers looking to earn rewards on their spending, those who frequently carry a balance may want to consider alternatives with lower interest rates.
HSBC Rewards Credit Card: Great If You're Already In
No annual fee and flexible rewards make HSBC's card a solid pick for account holders. But with a hig…
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