HSBC Cash Rewards Mastercard® Review

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Top perks

1.5% cash back: You’ll get 1.5% cash back on all purchases, which you can redeem for several options. This is about average for cash back rewards cards with no annual fee. 

3% total cash back for the first year: In lieu of a true sign-up bonus, you’ll earn 3% cash back on all your purchases in the first 12 months. This sounds like a good deal, but you’ll only earn this higher rate on the first $10,000 of purchases you make (which is $833 per month). That’s a maximum of $150 on top of the 1.5% you’d earn anyway. You might be able to earn a better sign-up bonus with another card. More on that below. 

0% APR intro offer on purchases and balance transfers: You’ll get a full 12-month interest-free period to make any purchases and pay off any credit card debt you transfer. Heads up: In order to take advantage of the intro 0% APR balance transfer offer, you’ll need to complete the balance transfer within the first 60 days. 

Wide array of redemption options: In addition to simple cash-back redemptions, you can also redeem your rewards for travel, gift cards, charitable donations, or merchandise, although these rewards types may involve more steps and may be worth less.

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Cell phone protection: If you break your cell phone or if someone steals it, you can qualify for reimbursement up to $600 through one of HSBC’s partner policy providers. A few credit card companies offer this perk, and it’s handy, given how expensive those tiny portable computers really are. 

No annual fee: This card packs in a lot of value, but it won’t cost you anything to keep it open — assuming you don’t have to pay any late fees, and you pay off your balance in full and on time, that is. 

No foreign transaction fees: Mastercard is widely accepted abroad, and if you take this card on your adventures, you won’t have to worry about paying foreign transaction fees.

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View more information: https://www.fool.com/the-ascent/credit-cards/hsbc-cash-rewards-mastercard-review/

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