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4 of the best HSBC credit cards
HSBC Cash Rewards Mastercard®

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Annual Fee$0
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Interest Rates20.99% / 22.99%20.99% for purchases, 22.99% for cash advances and balance transfers.1.99%).
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Rewards Rate0.5%-1.5%1.5% cash back on online purchases, 1% on gas, grocery and drugstores, 0.5% on everything else. Conditions apply.
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Intro OfferUp to $100Earn an additional 10% cash back* on all purchases for the first 60 days (up to $1,000 in total purchases). Must apply by September 29, 2023. Conditions apply.
An accelerated cash back rate on online purchases means those that prefer to shop online will get the most bang for their buck — up to an annual spend of $6,000. And the inclusion of mobile device insurance provides peace of mind should your phone be damaged, lost or stolen.
Pros
- Mobile device insurance.
- Earn cash back on all purchases.
Cons
- You can only earn accelerated cash back rewards for up to $6,000 in online purchases annually.
- Earn an additional 10% cashback* on up to $1,000 in purchases for the first 60 days! Must apply by September 29, 2023. Conditions apply.
- For the first 60 days, earn up to: 11.5% cash back on eligible online purchases, 11% cash back on eligible gas, grocery and drugstore, 10.5% cash back on all other everyday purchases.
- Ongoing cash back earnings as follows after the first 60 days:
- 1.5% cash back on up to $6,000 of your online purchases (including streaming services, online subscriptions and food delivery).
- 1% cash back on your gas, grocery and drugstore purchases.
- 0.5% cash back on (almost) everything else you buy with your card.
- Redeem sooner – You only need to reach $25 in cash back to redeem.
- Redeem when you want – Redeem for cash back as a statement credit online. See how easy it is at rewards.hsbc.ca.
- Redeem to pay down or save up – Use your cash back for a credit towards your residential mortgage account, or credit card, or to top up your savings account.
- Primary cardholder annual fee: $0
- Annual Interest on Purchases: 20.99%.
- Authorized User Annual Fee: $0 Per Card.
- *Terms and Conditions Apply.
- ®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
HSBC World Elite® Mastercard®

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Annual Fee$149Annual fee rebate for the first year*
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Interest Rates20.99% / 22.99%20.99% on purchases, 22.99% on cash advances.
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Rewards Rate2x-6x Points6 points per $1 on all eligible travel purchases, 4 points per $1 on all eligible gas, grocery, and drugstore purchases, 2 points per $1 on all other eligible purchases.
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Intro OfferUp to 50,000 PointsEarn up to 50,000 points* ($250 travel value): Welcome bonus of 20,000 points* ($100 travel value), Earn 30,000 points* when you spend $1,000 within 60 days of account opening ($150 travel value). Must apply by September 29, 2023. Conditions apply.
Not only does this World Elite card offer a high rewards rate on travel purchases, but it also comes with premium travel perks, like a $100 travel enhancement credit and 31-day worldwide emergency travel medical insurance.
Pros
- A $100 annual travel enhancement credit covers seat upgrades, baggage fees, lounge passes, and more.
- No foreign transaction fees.
Cons
- Select types of travel insurance won’t apply unless you charge 75% of your travel expenses to the card.
- No travel medical coverage for cardmembers over the age of 65.
- Get up to $499 in total value* for the first year! Must apply by September 29, 2023. Conditions apply.
- Primary Cardholder Annual Fee: $149.
- Annual Interest on Purchases: 20.99% (19.9% for Quebec residents).
- Annual Interest on Cash Advances and Balance Transfers: 22.99% (21.99% for Quebec residents).
- Authorized User Annual Fee: $0 Per Card.
- *Terms and Conditions apply.
- ®/TM Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to licence.
HSBC +Rewards™ Mastercard®

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Annual Fee$25Annual fee rebate for the first year*
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Interest Rates11.90%11.90% on purchases and cash advances.
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Rewards Rate1x-2x Points2x on dining and entertainment, and 1x on everything else.
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Intro OfferUp to 35,000 PointsEarn 35,000 points* when you spend $1,000 within 60 days of account opening ($175 travel value). Must apply by September 29, 2023. Conditions apply.
This low-interest and low-annual fee rewards card offers bonus points on dining and entertainment purchases, as well as several types of insurance.
Pros
- At 11.9%, you’ll benefit from a lower interest rate on purchases and cash advances than many other rewards cards.
- Redeem points for travel, as gift cards or as financial rewards.
Cons
- Despite the low interest rate, there’s no balance transfer promotional period.
- Travel and medical insurance coverage costs an additional $69 per year.
- Get up to $200 in total value* for the first year! Must apply by September 29, 2023. Conditions apply.
- Earn 2 Points for every $1 spent on eligible dining or entertainment purchases.
- HSBC’s lowest interest rate for purchases, cash advances and balance transfers.
- Price Protection Service – find a lower price within 60 days of your purchase, the difference will be refunded, up to $500 per eligible item.
- Primary Cardholder Annual Fee: $25.
- Annual Interest on Purchases: 11.9%.
- Authorized User Annual Fee: $10 Per Card.
- *Terms and Conditions apply.
- ®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
HSBC Travel Rewards Mastercard®

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Annual Fee$0
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Interest Rates20.99% / 22.99%20.99% on purchases, 22.99% on cash advances.
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Rewards Rate1x-3x Points3 points for every $1 spent on eligible travel purchases* (car rentals, vacations, hotel flights, etc), 2 points for every $1 spent on eligible gas and daily transportation purchases* (subway, train, taxi, etc.), 1 point for every $1 on all other eligible everyday purchases.*
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Intro Offer20,000 PointsEarn 20,000 points* ($100 travel value) if you spend $1,000 in the first 60 days. Must apply by September 29, 2023. Conditions apply.
The no-fee HSBC Travel Rewards Mastercard earns travel rewards points on every eligible dollar spent, and offers flexible redemption options, including cash, gift cards and merchandise.
Pros
- No annual fee or specific income requirements.
- Equipped with trip interruption, baggage delay and hotel/motel burglary insurance.
Cons
- Accelerated earn rate for travel purchases is capped at $6,000 annually. After that, you earn just one point per travel dollar spent.
- Travel medical insurance doesn’t come standard — it’s available as an optional add-on for a fee.
- Special offer: Earn 20,000 points* ($100 travel value) if you spend $1,000 in the first 60 days. Must apply by September 29, 2023. Conditions apply.
- Collect points and reward yourself anytime:
- 3 points for every $1 spent on eligible travel purchases* (car rentals, vacations, hotel flights, etc).
- 2 points for every $1 spent on eligible gas and daily transportation purchases* (subway, train, taxi, etc).
- 1 point for every $1 on all other eligible everyday purchases.*
- Redeem your points your way – the choice is yours.
- Primary cardholder annual fee: $0.
- Annual Interest on Purchases: 20.99%.
- Authorized User Annual Fee: $0 Per Card.
- *Terms and Conditions apply.
- ®/TM Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Used pursuant to license.
Summary of the best HSBC credit cards
HSBC Credit Card | Interest Rate | Intro Offer |
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HSBC Cash Rewards Mastercard® | 20.99% | Up to $100 (terms and conditions apply) |
HSBC World Elite® Mastercard® | 20.99% | Up to 50,000 Points (terms and conditions apply) |
HSBC +Rewards™ Mastercard® | 11.90% | Up to 35,000 Points (terms and conditions apply) |
HSBC Travel Rewards Mastercard® | 20.99% | 20,000 Points (terms and conditions apply) |
How HSBC credit cards work
The Hongkong and Shanghai Banking Corporation Limited (more commonly called HSBC or HSBC Bank Canada) was founded in Hong Kong in 1865, and opened its first Canadian branch in 1981. It now represents the 7th largest bank in Canada.
Note: In November 2022, HSBC announced intentions to sell its Canadian holdings to the Royal Bank of Canada, or RBC. If the sale passes regulatory approval in 2023, it could mean HSBC credit card holders will be required to transition to RBC products. Currently, HSBC Bank Canada has told its customers that business will continue as usual.
Types of HSBC credit cards
Compared to the variety of Canada’s Big 6 banks, HSBC offers a relatively small collection of consumer and business credit cards. It also doesn’t have any co-branded cards.
Unlike the special bank accounts for international students and newcomers to Canada, there aren’t any credit cards that are overtly geared towards them.
HSBC offers the following types of cards:
- HSBC cash-back cards. Cash-back credit cards earn a set amount of money back for each eligible purchase.
- HSBC travel cards. Travel credit cards often (though not always) have accelerated earn rates for travel purchases and/or also let you earn points for a travel related loyalty program. They also often feature other travel-friendly perks like airport lounge access, priority boarding and travel insurance.
- HSBC general rewards cards. These cards earn HSBC Rewards, which can be redeemed for a variety of items like merchandise, gift cards and travel options
- HSBC low-interest cards. The bank’s low interest credit cards offer lower than normal interest rates for those who may often carry a balance.
- HSBC business credit cards. These cards can help business owners separate business from personal spending, and earn rewards.
Some common features of HSBC credit cards
Only available as Mastercards
One common feature among all HSBC cards is their affiliation with the Mastercard network. Unlike some other banks, HSBC does not offer any Visa or American Express cards.
Typical interest rates
HSCB credit cards have purchase interest rates ranging from 19.99% up to 20.99%, with cash advances available usually at a rate of 22.90%. The one exception is the HSBC +Rewards Mastercard, which has a low purchase and cash advance rate of 11.90%.
Reasonable annual fees

Insurance options for all
For its no-fee and low-fee cards, HSBC offers clients the opportunity to pay $69 a year to get optional medical insurance, including emergency medical, trip cancellation and baggage delay. All HSBC credit cards come with purchase assurance and extended warranty insurance.
How to find the best HSBC credit card for you
There are several things to look for when choosing any credit card:
Your eligibility. It doesn’t make sense to apply for a card that you have no chance of getting and a hard pull could hurt your score so check to see if you meet the card’s income requirements. Though they may not advertise it, some credit cards are also more likely geared towards those with a solid credit score, meaning you should also know your score before applying.
Fees. Are you willing to pay an annual fee? Keep in mind that no-fee cards tend to have fewer perks than premium cards that come with an annual fee.
Interest rate. If you tend to keep a balance on your card, it’s wise to look for a card with a lower interest rate.
Rewards or cash back: Rewards can be more lucrative than cash back but can be complicated to redeem.
Who should consider an HSBC credit card?
HSBC’s potential sale to RBC makes it an odd time to apply for one of its credit cards — some of the products might change or be discontinued if the bank is acquired. That said, credit card applications are still open on the bank’s website.
The HSBC World Elite Mastercard may be of interest to consummate travellers as it offers an impressive 31-days of consecutive travel medical insurance for those under 65, as well as a $100 travel credit and no foreign transaction fees.
The HSBC +Rewards Mastercard is a good choice for those who may typically carry a balance month to month, and may be looking for a low-fee card that comes with a standard low interest rate.
How to open a HSBC credit card
- The easiest way to apply for an HSBC credit card is via the bank’s website. From HSBC’s main credit card page, click the “How to Apply” button next to the credit card you’re interested in.
- For all of its credit cards, HSBC notes that applicants must be the age of majority in their respective province or territory and be a Canadian resident. Depending on the card you apply for, HSBC may also specify a required minimum individual or household income or amount of investments.
- HSBC also suggests applicants have a passport, driver’s license or other form of government-issued ID at the ready to make your identity easier to verify and thus make the application process faster.
- The bank also notes that people can phone or book an appointment to apply for a card if they would rather not apply online.
- When you begin your application by clicking “Apply online” you’ll be asked if you’re an existing HSBC customer. If you’re already a client you would then log into your account and go through the application process more quickly because the bank would already have a lot of your info on file. If you’re not a client, you’ll first be asked to go over the card’s rates and fees.
- Next, you’ll be required to provide personal information like your name and address. You’ll also need to provide information about how long you’ve lived at your current address and how much your monthly rent or mortgage payments cost.
- FInally, you’ll be asked to prove your ID by taking a photo of an acceptable form of ID and uploading it.
Once your application is submitted, you may be approved for a credit card instantly. Otherwise it can take several weeks for the bank to process your application.
Frequently asked questions about HSBC credit cards
The easiest way to apply for an HSBC credit card is online via the bank’s website. You’ll be asked to provide personal details, and also be asked to photograph and upload an acceptable form of ID to speed up the application process. If you do so, you could be approved instantly; if not, it could take weeks to process your application.
The best HSBC credit card depends on your spending habits and goals, but the HSBC World Elite Mastercard offers lots of value to travellers and has no foreign exchange fee (a relatively rare benefit among Canadian credit cards). The HSBC Cash Rewards Mastercard is a no-fee card with solid accelerated earn rates for everyday purchases.

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