RBC's acquisition of HSBC was completed in early 2025, but many former HSBC credit card holders are still wondering what their best replacement options are.
You should consider the list of Canada's best Mastercards first, since all HSBC cards were Mastercards. But RBC offers both Mastercard and Visa options, with several high-quality options to choose from.
Here, we’ll dive into the details of which RBC card best matches the former HSBC cards and highlight some others for your consideration.
Key Takeaways
- HSBC Mastercards are no longer available.
- Existing cardholders may be transitioned to an RBC credit card, though nothing has been confirmed.
- Top alternatives to HSBC Mastercards include the Scotiabank Passport Visa Infinite Card, Scotiabank Gold American Express Card, MBNA Rewards Platinum Plus Mastercard, and BMO CashBack Mastercard.
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Summary of HSBC Mastercards and the best alternative
Here are the 4 main cards that were offered by HSBC, the most similar RBC card, and some other options to consider. Note that this is just for comparison purposes – it doesn't reflect what HSBC clients may receive as RBC has yet to make that announcement.
| HSBC Mastercard | Similar RBC card | Other top options |
|---|---|---|
| HSBC World Elite Mastercard | RBC Avion Visa Infinite | * Scotiabank Passport Visa Infinite Card * National Bank World Elite Mastercard * Scotiabank Gold American Express Card * TD First Class Travel Visa Infinite Card |
| HSBC +Rewards Mastercard | RBC ION Visa | * Scotiabank Gold American Express Card * MBNA True Line Gold Mastercard * MBNA True Line Mastercard |
| HSBC Travel Rewards Mastercard | RBC ION Visa | * MBNA Rewards Platinum Plus Mastercard * CIBC Aventura Visa Card * American Express Green Card |
| HSBC Cash Rewards Mastercard | RBC Cash Back Mastercard | * Tangerine Money-Back Credit Card * BMO CashBack Mastercard * SimplyCash Card from American Express |
A note about our alternatives: We'll stick to Visa and Mastercards that come close to what the HSBC card offers. We will suggest Amex cards as other top options though. When looking at rewards earnings, we'll use an average return expressed as a percentage based on $2,000 monthly spending.
HSBC World Elite Mastercard
We'll start with the most popular card from HSBC: the HSBC World Elite Mastercard.
A flexible rewards card earning HSBC Rewards, here's what you earned on purchases:
- 6 points per $1 spent on travel
- 4 points per $1 spent on gas, groceries, and drugstores
- 2 points per $1 spent on all other purchases
It seems like a lot, but each point is only worth 0.5 cents each, giving an average return of 1.42% on purchases.
The HSBC World Elite Mastercard had a few benefits:
- No foreign exchange fees. It saved the typical 2.5% fee most credit cards charge on purchases that are made in a foreign currency.
- Travel enhancement credit. You could save a combined $100 per year on checked baggage fees, airport lounge access, and airline seat upgrades.
- Excellent insurance. This card featured a stunning 15 types of insurance – all for a $149 annual fee.
So in our replacement, we need these 4 things:
- Decent but not overwhelming rewards
- No foreign exchange fees
- A special travel perk
- Terrific insurance
Similar RBC card: RBC Avion Visa Infinite
The most likely option from RBC could be the RBC Avion Visa Infinite – or a version of it. The major difference between this one and the normal card is it charges no foreign exchange fees.
As an Avion Rewards card, here's what it earns on purchases:
- 1.25 points per $1 spent on travel
- 1 point per $1 spent on all other purchases
If you can get the maximum value from the airline redemption chart, you can get a return of 2.36%. But that's not guaranteed. Use them towards any travel purchase through the Avion Rewards Program and it gets reduced to 1.01%.
You can also transfer your points to these airlines and their ratios:
- WestJet – 100:1
- British Airways – 1:1
- Cathay Pacific – 1:1
- American Airlines – 10:7
Lastly, it includes 12 types of insurance coverage.
×1 Award winner 
$100 GeniusCash + 55,000 points + Up to 2.33% return on purchases.*
GC: $100
1x Award winner An alternative to consider: Scotiabank Passport Visa Infinite Card
The Scotiabank Passport Visa Infinite Card checks all 4 things we need.
First, here are the rewards it offers:
- 3 Scene+ points per $1 spent at Sobeys, Safeway, FreshCo and more
- 2 Scene+ points per $1 spent on groceries, restaurants, entertainment, and daily transit
- 1 Scene+ point per $1 on all other purchases
That works out to an average return of 1.35% when you redeem your Scene+ points for travel or at Sobeys, Safeway, Home Hardware, and Cineplex.
You won’t get any foreign exchange fees with this card – and while it doesn't have a travel credit, it includes a Visa Airport Companion membership with 6 free passes.
You’ll also get a valuable insurance package, featuring 11 types. The annual fee is $150.
GC: $30
Other alternatives
Here are 3 other alternatives that check at least 3 of the 4 features that the HSBC World Elite Mastercard included.
×1 Award winner GC: $60
1x Award winner 
GC: $25
HSBC +Rewards Mastercard
The HSBC +Rewards Mastercard was a rare credit card that offered both low interest rates and rewards on purchases.
- 2 points per $1 spent on dining and entertainment
- 1 point per $1 spent on all other purchases
The rewards netted you just 0.53% back on average on your purchases. But it was also coupled with a low interest rate of 11.9% on purchases, cash advances, and balance transfers.
This was offered for an annual fee of $25.
Similar RBC card: RBC ION Visa
The most similar card from RBC is the RBC ION Visa. It’s a no fee Avion rewards card that earns the following on purchases:
- 1.5 points per $1 spent on groceries, daily transit, rideshares, EV charging, streaming, digital gaming, and subscriptions1
- 1 point per $1 spent on all other purchases
Avion Rewards aren’t the same as Avion cards since you don't get access to the value-boosted flight chart or fancier airline transfer options. Your best travel option is a transfer to WestJet, where each point is worth 1 cent, or redeem for any travel where your points are worth 0.58 cents. Assuming a transfer to WestJet, the average return is 1.09%.
One thing this card doesn't do is offer a break on credit card interest, charging a standard 20.99% on new purchases.
Alternative credit cards to consider
The list of credit cards that offer both rewards and low interest rates is short. Here are the 2 options available to most Canadians:
×1 Award winner GC: $60 1x Award winner 
If you’re just looking for a card with low interest rates, here are a couple more to look at:
×2 Award winner GC: $135
2x Award winner And if you want a no fee card to earn travel rewards, the Ion card that RBC provides is a good option. Here are a few others to think about:
HSBC Travel Rewards Mastercard
HSBC offered a pair of basic no fee cards, and we'll start with the HSBC Travel Rewards Mastercard.
- 3 points per $1 spent on travel
- 2 points per $1 spent on gas and transit
- 1 point per $1 spent on everything else
Since HSBC Rewards points are only worth 0.5 cents each, it had an average return of 0.59% on purchases.
Similar RBC card: RBC ION Visa
The RBC ION Visa is the most similar RBC card to the HSBC Travel Rewards Mastercard – and in this case, it’s a solid option.
Other good no fee travel cards include the ones mentioned for the HSBC+ Rewards Mastercard:
- MBNA Rewards Platinum Plus Mastercard
- BMO eclipse rise Visa Card
- CIBC Aventura Visa Card
- American Express Green Card
HSBC Cash Rewards Mastercard
The HSBC Cash Rewards Mastercard was a no fee cash back card offering the following:
- 1.5% cash back on the first $6,000 in online purchases
- 1% cash back on gas, groceries, and drugstores
- 0.5% cash back on everything else
It was a unique card that had a special rate for online shopping and an overall return of 0.71% on purchases.
Similar RBC card: RBC Cash Back Mastercard
The most similar RBC card is the RBC Cash Back Mastercard. Here's what it earns on purchases:
- 2% cash back on groceries on the first $6,000 spent annually
- 1% cash back on groceries on $6,000+ spent annually
- 0.5% cash back on the first $6,000 spent annually
- 1% cash back on $6,000+ spent annually
It works out to an average return of 1.05%
Alternative cash back cards to consider
If you're looking for a credit card with a special online earn rate, your only real option is the National Bank ECHO Cashback Mastercard. It earns:
- 1.5% cash back on online purchases, gas, and groceries
- 1% cash back on all other purchases
This card has an annual fee of $30.
Other no fee cash back cards
Here are some other top no fee cash back cards you can look at:
×1 Award winner GC: $125
1x Award winner 
What will you do with your HSBC Mastercard?
You're losing your HSBC card and RBC might have a replacement lined up for you.
Have you already thought about what you might get? Will you stick with RBC or look for something else?
Let us know in the comments below.
FAQ
Are HSBC Mastercards being replaced with RBC credit cards?
HSBC banking has been acquired by RBC but so far, there are only rumours about what will happen with existing HSBC cards. Some reddit users say they’re getting a replacement RBC card but nothing has been confirmed.
Do I have to accept RBC's new credit card?
If RBC offers you a replacement card, you’re not obligated to keep it. Like any credit card, you are free to cancel it at any time.
What credit card is RBC offering as a replacement for the HSBC World Elite Mastercard?
The RBC Avion Visa Infinite is a similar RBC option to replace the HSBC World Elite Mastercard. RBC may offer this to existing cardholders but hasn’t released anything for certain yet.
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GC: 
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