HSBC Travel Rewards Mastercard® Review 2023
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HSBC Travel Rewards Mastercard®
Rewards
- 3pts Earn 3 points per $1 spent on eligible travel-related purchases.
- 2pts Earn 2 points per $1 spent on gas and transportation.
- 1pt Earn 1 point per $1 spent on all other eligible everyday purchases.
- Welcome Bonus None
- Annual Rewards $142 Learn how we calculate this.
- Annual Fee $0
- Minimum Income Required None
Pros
- No annual fee
- $0 supplementary card fee
- Travel insurance
- Extensive list of partners for rewards
Cons
- 2.5% foreign transaction fee
- Capped travel rewards amount of $6,000
- Low rewards for non-travel-related purchases
The HSBC Travel Rewards Mastercard is designed for the frequent traveller. This travel rewards credit card allows you to earn points on every purchase. You can use your points in one of three ways: for travel, for a statement or loan credit, convert into cash and save, or redeem for gift cards and merchandise at select partners.
The Royal Bank of Canada (RBC) will be purchasing HSBC Canada. As a result, HSBC products will be discontinued shortly. Please refer to the best credit cards in Canada for alternatives.
Are you looking for a credit card that rewards you for travelling? With generous discounts on travel bookings, valuable travel insurance, and a variety of rewards points, the HSBC Travel Rewards Mastercard® is an all-in-one travel card that can help you save on your next trip.
This HSBC Travel Rewards Mastercard review discusses the features and benefits of this card. It outlines the rewards you can earn, explains how to redeem your points, and provides an overview of any additional perks or discounts associated with the card. Read on to learn more about this travel rewards credit card and if it’s right for you.
HSBC Travel Rewards Mastercard: an overview
The HSBC Travel Rewards Mastercard is an excellent choice for travel junkies who want to maximize travel rewards. This card offers points on every purchase, additional points for travel-related purchases, and no annual fee. To redeem points for the best value, cardholders can apply their points to travel related purchases. This includes purchases made from airlines, hotels, campgrounds cottages, cruise lines, and more.
HSBC Travel Rewards Mastercard rewards
The HSBC Travel Rewards Mastercard offers points on almost all purchases made.
Eligible travel: 3 points per dollar spent with a cap amount of $6,000 per calendar year (after you reach the cap amount, you’ll earn 1 point per dollar)
Eligible gasoline and daily transit: 2 points per dollar spent
All other eligible purchases: 1 point per dollar spent
Redeeming rewards with the HSBC Travel Rewards Mastercard is simple. Your earned points will appear on your account, and you can redeem them either online or over the phone.
For travel-related purchases, your online account will have a tab titled “Redeem Now.” From there you can select “Travel” to find travel purchases or to book directly using your HSBC credit card. For a statement credit, cardholders can find all travel-related transactions made in the last 60 days to apply points directly to their purchase. This is useful because cardholders are not restricted to specific companies for travel expenses. All purchases of goods and services from airlines, car rental agencies, hotels, cottages, campgrounds, and more will show up as a travel-related purchase that users can apply points to.
Cardholders can use their points in three different ways:
- Travel: HSBC points can be used for all things travel related. Book transportation, hotels, cruises, rail tickets, and more directly on the rewards site. You can also redeem points for a statement credit toward travel purchases made online or through travel agents and charged to the card.
- Financial: Use your points to achieve your financial goals. Convert your points for a credit toward your HSBC Bank Canada residential mortgage, credit card balance, or add the points to your HSBC personal savings account in the form of cash.
- Gift cards and merchandise: With an extensive list of exclusive partners, HSBC points can be used for Apple products, other electronics, accessories, home and beauty essentials, and hundreds of other items. Don’t see an item you like? HSBC has more than 50 gift card options and 3 charities to put points toward.
HSBC Travel Rewards eligibility
To apply for the HSBC Travel Rewards Mastercard, you must be of legal age and have a good credit score of around 670 to 739. There is no minimum income requirement to qualify for the card or annual fee.
HSBC Travel Rewards interest rates and fees
Fees
- Annual fee: $0
- Foreign transaction fee: 2.5%
- Extra card fee: $0
- Cash advance fee: $5 (doesn’t apply to Quebec)
Interest rates
- Purchases: 20.99%
- Cash advances: 22.99%
- Cash advances (Quebec): 21.99%
- Balance transfers: 22.99%
- Balance transfers (Quebec): 21.99%
- Penalty APR: 25.99%
HSBC Travel Rewards Mastercard perks
In addition to its rewards, this card offers a few extra benefits for travellers.
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Travel insurance
The HSBC Travel Rewards Mastercard comes with baggage delay, trip interruption, and hotel/motel burglary travel insurance. For a low annual premium of $69, you can tack on emergency medical coverage, too.
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Extended warranty coverage
Extended warranty coverage, and purchase assurance offers extra security when making purchases with your card.
Compare HSBC Travel Rewards Mastercard alternatives
Our final thoughts
The HSBC Travel Rewards Mastercard is a good choice for those looking for an easy way to earn rewards points on travel-related purchases. The capped rewards amount may be an issue for some. However, the card provides a lot of value that can outweigh this factor. All in all, it’s a great option if you’re looking for an easy way to maximize your rewards while travelling.
