Advertiser Disclosure
Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.
HSBC Credit Cards
8 min read
First established in Hong Kong, HSBC has grown into a renowned bank that provides personal and commercial financial services to a global crowd.
Its U.S. subsidiary, HSBC Bank USA, only began to assert its presence within the last few decades, but it’s since constructed branches across the nation.
It’s also become a relatively high-profile credit card issuer.
HSBC’s portfolio of credit cards is slim, but it offers some interesting options, so you might find something that suits your spending habits just right.
Insider tip
HSBC doesn’t offer any credit cards geared for those with no credit or bad credit, so you’ll have to search elsewhere if you’re building credit from scratch.
Low Interest Rate
HSBC Gold Mastercard® Credit Card
Details
securely on the issuer's website
- 0% Intro APR on purchases and balance transfers for the first 18 months from account opening. Then a variable APR of 12.99% – 20.99% will apply.
- No Penalty APR.
- Late Fee Waiver.
- No Foreign Transaction Fees.
- $0 Annual Fee.
- $0 liability for unauthorized purchases.
- Terms Apply.
- See Rates & Fees
The HSBC Gold Mastercard® Credit Card is easy to understand. There’s a 0% introductory APR offer on purchases and balance transfers, no rewards, and a few helpful benefits.
Key Features
- Intro Purchase and Balance Transfer APR: 0% for 18 months
- Regular Purchase and Balance Transfer APR: 12.99–20.99% Variable
- No Penalty APR
- No foreign transaction fees
- Annual fee: $0
Insider tip
Looking to pay off a balance transfer with a long 0% APR introductory period? You could do worse than the HSBC Gold Mastercard’s 18 months, but you’ll find even longer offers, as well as options with no balance transfer fees, among our picks for the best cards for balance transfers.Cash Back Rewards
HSBC Cash Rewards Mastercard® credit card
Details
securely on the issuer's website
- Earn unlimited 1.5% cash back on all purchases.
- Earn an Introductory 3% Cash Back on all purchases in the first 12 months from Account opening, up to the first $10,000 in purchases
- 10% Anniversary Bonus on all Cash Rewards earned once a year.
- No Annual Fee.
- 0% Intro APR for 12 months on purchases and balance transfers, then a 14.99% – 24.99% variable APR.
- No Foreign Transaction Fees.
- $0 liability for unauthorized purchases.
- Terms Apply.
- See Rates & Fees
The HSBC Cash Rewards Mastercard® credit card offers flat-rate cash back on every dollar spent. While the card’s usual reward rate is 1.5%, you’ll get 3% cash back on all purchases up to $10,000 for the first 12 months, plus an annual 10% anniversary bonus on all cash rewards. That’s a pretty strong offer for a card with no annual fee.
Rewards
| Spending Rewards |
|---|
|
|
Key Features
- Annual bonus: 10% anniversary bonus on all cash back earned
- Intro Purchase and Balance Transfer APR: 0% for 12 months
- Regular Purchase and Balance Transfer APR: 14.99–24.99% Variable
- No Penalty APR
- No foreign transaction fees
- Annual fee: $0
Reward Points
| Card | Annual Fee | Rewards |
|---|---|---|
| HSBC Platinum Mastercard® with Rewards Credit Card | $0 |
|
| HSBC Advance Mastercard® Credit Card | $45, $0 first year ($0 with qualifying HSBC Advance or Premier checking account) |
|
HSBC Platinum Mastercard® with Rewards Credit Card
Details
securely on the issuer's website
- 0% intro APR for purchases and balance transfers for 12 months, and then your rates will be 15.24%, 19.24%, or 25.24% Variable
- In the first year you’ll earn 3X points per dollar up to $10,000 spent on all purchases, and after the first year you’ll earn 1X point on all purchases
- Unlimited points that don’t expire
- No annual fee
- No foreign transaction fee
This card works a lot like the Cash Rewards card above, but you earn points instead of cash back. It offers a similar bonus, where you receive 3X points on all purchases up to $10,000 in the first 12 months after account opening. Then, after the first year or hitting the limit, you get 1X point for every dollar spent. You can exchange points for a variety of merchandise or gift cards, or you can simply redeem them as cash back.
Rewards
| Spending Rewards |
|---|
|
|
Key Features
- Intro Purchase and Balance Transfer APR: 0% for 12 months
- Regular Purchase and Balance Transfer APR: 15.24%, 19.24%, or 25.24% Variable
- No foreign transaction fees
- Annual fee: $0
HSBC Advance Mastercard® Credit Card
Details
securely on the issuer's website
- 3X points per dollar on dining and select entertainment purchases, and 2X points per dollar on all other purchases in the first year, up to $25,000 in total purchases.
- After the first year, you’ll earn 2X points per dollar on dining and select entertainment purchases, and 1X point per dollar on all other purchases.
- 0% intro APR for purchases and balance transfers for 12 months, and then your rates will be 17.24% or 21.24% Variable
- No annual fee if you have a HSBC Advance or Premier checking account, $45 if you no longer have one
- No foreign transaction fee
- Must have an HSBC Advance or Premier checking account in order to apply
The HSBC Advance Mastercard® Credit Card boasts yet another introductory bonus that doubles your rewards, albeit with a higher spending limit and different spending categories. Other than that, there’s not much to it, aside from a 0% intro APR offer for purchases and balance transfers and a handful of basic benefits. To apply for this card, you’ll need an HSBC Advance or Premier checking account.
Rewards
| Spending Rewards |
|---|
|
|
Key Features
- Intro Purchase and Balance Transfer APR: 0% for 12 months
- Regular Purchase and Balance Transfer APR: 17.24% or 21.24% Variable
- No foreign transaction fees
- Annual fee: $45, $0 first year ($0 with qualifying HSBC Advance or Premier checking account)
Travel Rewards
| Card | Annual Fee | Rewards |
|---|---|---|
| HSBC Premier World Mastercard® Credit Card | $95, $0 first year ($0 with qualifying HSBC Premier checking account) |
|
| HSBC Premier World Elite Mastercard® Credit Card | $395 |
|
HSBC Premier World Mastercard® Credit Card
Details
securely on the issuer's website
- 2X Rewards Program points per dollar on travel
- 1X point per dollar on all other net purchases
- 35,000 Rewards Program bonus points worth $400 in airfare when booked online through HSBC Rewards, after spending $3,000 in the first three months of opening your account
- Earn unlimited points that don’t expire
- No blackout dates or restrictions on most major airlines
HSBC’s low-tier travel rewards card has a straightforward rewards program and a few useful benefits on top of the basic perks you’ve likely come to expect from any travel card. Cardholders can transfer points to participating airline loyalty programs, which adds a bit of flexibility. You must have an HSBC Premier checking account to apply for this card, and as long as you have the account, there’s no annual fee. But the card costs $95 annually after the first year if you don’t.
Rewards
| Spending Rewards |
|---|
|
|
| Introductory Bonus Offer |
|---|
|
Key Features
- Point transfer: Transfer your points to participating frequent traveler programs
- TSA PreCheck credit: Get a statement credit that covers the application price for TSA PreCheck ($85) once every five years
- $50 Uber and Lyft credit: Earn up to $50 in statement credits annually for qualifying Uber and Lyft rides
- Unlimited Boingo WiFi access: Enjoy free WiFi at Boingo hotspots around the world
- 10% discount when you book a hotel or vacation home through Expedia, Agoda, or onefinestay
- No foreign transaction fees
- Annual fee: $95, $0 first year ($0 with qualifying HSBC Premier checking account)
HSBC Premier World Elite Mastercard® Credit Card
Details
securely on the issuer's website
- 3X Rewards Program points per dollar on travel
- 2X points per dollar on dining
- 1X point per dollar on all other net purchases
- 50,000 Rewards Program bonus points worth $750 in airfare when booked online through HSBC Rewards, after spending $4,000 in the first three months of opening your account
- Earn unlimited points that don’t expire
- No blackout dates or restrictions on most major airlines
- Made of metal
As its name suggests, the HSBC Premier World Elite Mastercard® Credit Card is HSBC’s premium credit card, and its $395 annual fee and upscale benefits reflect this. The card provides complimentary membership to the LoungeKey network of lounges, although you only get two free visits per year. Cardholders also get statement credits for air travel, TSA PreCheck, and select rideshare purchases. You’ll need an HSBC Premier checking account to apply for this card, too.
Rewards
| Spending Rewards |
|---|
|
|
|
| Introductory Bonus Offer |
|---|
|
Key Features
- Point transfer: Transfer your points to participating frequent traveler programs
- LoungeKey airport lounge membership: Two free visits to LoungeKey lounges per year (additional visits are $25 per person); save 15% at participating airport retailers
- TSA PreCheck credit: Get a statement credit that covers the application price for TSA PreCheck ($85) once every five years
- $100 air travel credit: Earn up to $100 in statements credits annually on air travel, including ticket purchases, seat upgrades, baggage fees, and in-flight purchases
- $100 Uber and Lyft credit: Get up to $100 in statement credits annually for qualifying Uber and Lyft rides
- Unlimited Boingo WiFi access: Enjoy free WiFi at Boingo hotspots around the world
- World Elite Concierge: For exclusive, round-the-clock help with travel and shopping
- 10% discount when you book a hotel or vacation home through Expedia, Agoda, or onefinestay
- No foreign transaction fees
- Annual fee: $395
Insider tip
If free airport lounge access is high on your list of priorities, the Premier World Elite might not make the cut. Consider other premium credit cards, like The Platinum Card® from American Express (Review), the Chase Sapphire Reserve® (Review), or the Citi Prestige® Card (Review).HSBC Credit Card Features
All credit cards HSBC currently issues in the U.S. use the Mastercard network. That means you’ll seldom have to worry about whether or not a merchant will accept your HSBC credit card.
But it also means that HSBC cards generally include a host of network-provided features that you might find useful. Mastercard benefits you’re afforded as an HSBC cardholder may include:
- Various types of insurance: Protections vary by card, but often include cell phone protection, car rental insurance, purchase assurance, and extended warranty protection.
- Travel benefits: Include several types of insurance, from baggage delay coverage to travel accident insurance, plus perks like travel assistance and 24-hour concierge services.
- Price protection: If you find something you just bought being advertised at a lower price within 120 days of your initial purchase, you may be reimbursed for the difference.
- Identity theft resolution services: Provides a valuable helping hand if you think you’ve fallen victim to identity theft.
- Lost/stolen card reporting: If you report your credit card lost or stolen, you’ll get a temporary card the next day in the U.S.
- ShopRunner: Complimentary ShopRunner membership offers unlimited, free, two-day shipping, plus free return shipping, with more than 140 online stores.
- PostMates: Enjoy a $5 discount on orders of $25 or more for food, drink, and grocery deliveries.
You’ll also usually enjoy a few benefits provided through HSBC itself, including free access to FICO credit scores, mobile banking tools, and fraud alerts.
HSBC credit cards include chip-and-PIN capability, which may increase their appeal for frequent international travelers.
Insider tip
HSBC’s fraud alerts should come in handy for catching unauthorized purchases and other illicit activity on your credit card account. However, if you prefer to go the extra mile to protect your personal information, consider setting fraud alerts on your credit reports or simply freezing them.
A Brief Summary of HSBC Services and Subsidiaries
As one of the largest banks in the world and the largest in Europe, it’s little surprise that HSBC’s success stems from a plethora of services and subsidiaries catering to a variety of financial needs. All told, HSBC serves more than 39 million customers, and its network spans 66 countries and territories.
The bank’s four main global businesses include:
- Commercial Banking: HSBC works with businesses of all shapes, sizes, and persuasions throughout 53 countries and territories. Its commercial banking branch specializes in global trade and receivables finance, global liquidity and cash management, global banking, and insurance and investments, and it facilitates more than $740 billion in trade each year.
- Retail Banking and Wealth Management: From personal banking to financial planning, HSBC’s retail banking arm currently supplies a wide variety of financial services to nearly 40 million customers around the world.
- Global Private Banking: HSBC Global Private Banking lends expert assistance to high-net-worth individuals, including business owners, executives, and entrepreneurs, as well as their families.
- Global Banking and Markets: Serving thousands of clients in more than 50 countries and territories, HSBC Global Banking and Markets works with corporations, governments, and institutions.
A Brief History of HSBC
Though the bank’s roots are firmly planted thousands of miles away, HSBC’s story isn’t much different from that of the other massive banks involved with the U.S. financial scene.
Fulfilling a Need
The beginning of HSBC can be traced directly to one man: Thomas Sutherland.
A seasoned Scottish businessman, Sutherland was working for the Peninsular and Oriental Steam Navigation Company in the 1860s when he noticed there was often something missing in communities throughout Hong Kong and the China coast: strong local banking facilities.
The man, the myth, the legend: Thomas Sutherland. Image credit: HSBC
Opportunist that he was, Sutherland saw no reason why he couldn’t fill that need himself, and so he initiated the establishment of The Hongkong and Shanghai Banking Corporation Limited.
The bank’s first location, in Hong Kong, opened in March 1865. Its second location opened the next month in Shanghai. The bank was officially incorporated in 1866.
International Growth
HSBC began opening branches soon after its establishment, stimulating rapid success. The bank’s network spread outward, quickly reaching Europe and North America. But despite flourishing far and wide, HSBC’s focus remained on its home territory of China and the Asia-Pacific region in general.
In 1874, HSBC broke further ground, handling China’s first public loan. This set a precedent, and HSBC issued most of the nation’s public loans in the years that followed.
The bank continued to thrive under the fruitful leadership of Thomas Jackson, whose tenure ran from 1876 to 1902, and HSBC soon became Asia’s most prominent financial institution.
Wars and Recovery
The arrival of the 20th century brought about a host of serious changes for HSBC. The bank began diversifying the services it provided in its home region, servicing numerous loans for national governments (China in particular) that often helped spur the development of modern infrastructural projects, such as railways.
The First World War shook things up for a time, but in the wake of the action, a massive increase in the trade of rubber and tin helped the bank continue along its path to the top. In fact, this boom soon led to the construction of new branches in Bangkok, Manila, and Shanghai throughout the early 1920s, a streak which culminated in the 1935 construction of a brand-new HSBC headquarters in Hong Kong.
HSBC’s third office, constructed in Shanghai in 1923, is now home to the Shanghai Pudong Development Bank. Image credit: HSBC
That’s when things took a turn.
A recession hit the area in the 1930s, and with it came political turmoil. Then came World War II, which saw much of the bank’s staff tragically taken prisoner.
HSBC weathered the storm, despite the war’s toll, and played an integral role in Hong Kong’s post-conflict reconstruction. Things were less than stellar outside of Hong Kong, however, and it soon became clear that serious change was required to ensure the bank’s long-term international success.
Adaptation and Expansion
When it became clear that things had to change, HSBC took quick action through a number of acquisitions. It purchased both Mercantile Bank (formerly Mercantile Bank of India, London, and China) and the British Bank of the Middle East in 1959.
HSBC then further diversified its services by adding a merchant banking arm in 1972.
Throughout this period, HSBC experienced consistent growth by acquiring other banks or forming strong business subsidiaries.
A Modernized Approach
By the end of the 1970s, HSBC had solidified its plan to reinforce its name around the world.
The bank established a “three-legged stool” approach, where it would be supported by three key markets: Asia-Pacific, the U.S., and the U.K. The key to success? More acquisitions.
HSBC added its U.S.A. leg in the 1980s by purchasing the Marine Midland Bank, a Buffalo-based institution that continued operating under the same name until HSBC’s global rebranding. HSBC then tried to make its mark in the U.K. by acquiring the Royal Bank of Scotland, but this acquisition fell through, so the bank instead opted for a 14.9% stake in Scotland’s Midland Bank (similar name, different bank!).
HSBC Holdings plc was established in 1991, and the bank thereafter achieved full ownership of Midland Bank in July 1992 to fulfill its “three-legged stool” philosophy. Once this acquisition was complete, the HSBC HQ was relocated to London, where it remains today.
The HSBC logo displayed in London. Image credit: HSBC
The Bank You Know Today
HSBC rode out the 20th century on a high note, acquiring other banks (and lots of customers) around the world.
To better position itself as an identifiable international name, the bank unified its brand in 1998, adopting the hexagon logo with which you’re now likely familiar in hopes of developing an instantly recognizable brand.
Since then, the bank has grown consistently. And while it now proudly flaunts its prowess as a global power, HSBC maintains a strong focus on growth opportunities in its home territory of Asia-Pacific.
Can’t find the right card in HSBC’s collection? Check out all of Credit Card Insider’s choices for the best credit cards, where you’ll find options from other major issuers, like American Express, Bank of America, Capital One, Chase, Discover, and more.
Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.
Do you have a correction, tip, or suggestion for a new post? Contact us here.
The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.
