HSBC Rewards Credit Card: Turn Every Purchase Into Points

The HSBC Rewards Credit Card is designed for everyday spenders who want to maximise the value of their purchases through a flexible rewards programme. As one of the UK's largest and most established banks, HSBC brings its trusted financial expertise to this rewards credit card, offering a straightforward way to earn points on everything you buy and redeem them directly against future purchases.

How the HSBC Rewards Programme Works

With the HSBC Rewards Credit Card, you earn reward points on every purchase you make, whether you're shopping at your local supermarket, booking travel, dining out, or making online purchases. The beauty of this rewards system lies in its flexibility and simplicity—your points accumulate automatically without the need to activate special categories or track bonus periods. Once you've accumulated points, you can redeem them instantly using the Mastercard Pay with Rewards app, which allows you to offset purchases wherever Mastercard is accepted. This innovative redemption method means you're not limited to specific retailers or gift cards; instead, you can use your points to reduce the cost of everyday essentials, special treats, or even recurring bills.

Introductory Offers and Interest-Free Periods

New cardholders benefit from a generous welcome bonus of 2,500 points (worth £25) when they make their first transaction with the card. These bonus points are awarded up to 60 days after your first spend, giving your rewards balance an immediate boost. Beyond the welcome offer, the card provides 0% interest on purchases for the first 6 months from account opening, making it an excellent option if you're planning a larger purchase and want to spread the cost without incurring interest charges. Additionally, you can take advantage of 0% interest on balance transfers for 6 months when you transfer existing credit card balances within the first 60 days of account opening. This feature can help you consolidate debt from higher-interest cards and save money whilst paying down your balance. Note that a balance transfer fee of 2.99% (minimum £5) applies to each transfer.

Worldwide Acceptance and Convenience

As a Mastercard, the HSBC Rewards Credit Card is accepted at millions of locations worldwide, giving you the flexibility to earn and use your card whether you're shopping in the UK or travelling abroad. You can use your card for purchases online, in physical stores, for contactless payments, and even for recurring payments like subscriptions or utility bills—all whilst earning rewards points. The card also offers the convenience of chip-and-PIN technology for secure transactions, as well as contactless payment options for quick and easy purchases under £100. Manage your account easily through HSBC's mobile banking app, where you can check your balance, view transactions in real-time, track your rewards points, make payments, and access account statements—all from your smartphone.

Additional Features and Benefits:

Understanding the Costs and Charges

It's important to understand the costs associated with the HSBC Rewards Credit Card. The card has a representative APR of 26.9% (variable), which applies to purchases once your introductory 0% interest period ends, as well as to cash advances and balance transfers after their promotional periods. If you pay off your balance in full each month, you won't pay any interest on purchases, maximising the value of your rewards. Cash withdrawals and balance transfers carry additional fees, and it's worth noting that using your credit card abroad may incur foreign transaction fees. Always check the current fee schedule before using your card for cash advances or international purchases to avoid unexpected charges.

Who Is This Card Best For?

The HSBC Rewards Credit Card is ideally suited for regular spenders who pay off their balance in full each month and want to earn something back on their everyday purchases. It's particularly appealing to existing HSBC customers who value having all their banking in one place, as well as to anyone who appreciates the flexibility of redeeming rewards against any purchase through the Mastercard Pay with Rewards app. The introductory 0% periods on purchases and balance transfers make it attractive for those planning larger purchases or looking to consolidate existing credit card debt. However, it's essential to use the card responsibly—the rewards value can quickly be eroded by interest charges if you carry a balance month to month. For those who can commit to paying in full and want a straightforward rewards programme backed by a major UK bank, the HSBC Rewards Credit Card offers excellent value.