Never miss an amazing deal ever again. Receive our weekly newsletter with the latest offers and deals directly to your inbox – subscribe now.

HSBC Rewards is a flexible rewards program with good point values for the majority of its redemption options.

The most valuable way to redeem your HSBC Rewards is for experiences, with a range of 0.54 – 0.59 cents per point (CPP). But there are a host of other ways to use your points that are both useful and valuable, including travel, merchandise, gift cards, HSBC financial products, and charitable donations.

The only way to earn HSBC Rewards is by using HSBC Mastercards, which we talk about in detail below.

Please note: the HSBC Rewards point values we have in this article are based on values from the HSBC +Rewards Mastercard rewards program pages. We’ve noted a few HSBC Rewards program value differences, depending on which HSBC Mastercard you have. Different rewards programs may have different point values and costs than those we have in this article.

HSBC Rewards at a glance

Value of an HSBC Rewards Point: High: $0.0057 for Experiences
Low: $0.003 for Statement credits
Ways to redeem HSBC Rewards points: * Experiences – 0.57 cents per point (CPP)
* Travel – 0.5 CPP
* Gift cards – 0.47 CPP
* Charitable donations – 0.47 CPP
* Merchandise – 0.42 CPP
* Statement credits – 0.30 CPP
* Other HSBC financial products – 0.35 CPP
How to earn HSBC Reward points: * HSBC Mastercards that earn HSBC Rewards
Who these rewards are good for: * World Travellers
* Value Shoppers
Frequently Asked Questions: * Level of flexibility? High
* Do rewards expire? No
* Is there a way to earn rewards faster? No
* Can rewards be transferred to other programs? Yes

Are you getting the most value from your rewards? Download this printable table ‒ and compare the dollar value of Canada’s 20+ rewards programs for FREE.

How to redeem HSBC Rewards points

The HSBC Rewards program is very flexible, giving you a range of ways to redeem your points so you’re never stuck waiting for a chance to use them. Here’s a rundown of the main redemption options available.

Please note that approximate CPP values are an average based on prices we found while researching this article in July 2020, and are subject to change.

Using HSBC Rewards for experiences: 0.54 – 0.59 CPP

In this context, “experiences” are special almost once-in-a-lifetime events, including things like helicopter rides and foodie tours.

HSBC Rewards Experiences

Here are a few examples, including their current point costs and approximate CPP value based on our research.

Experience Point Cost Estimated Retail Value1 Approximate CPP Value
Savors Of The Strip – Las Vegas 51,300 $302.60 0.59
Breakaway Experiences Rocky Mountains Helicopter Tour for 2 88,200 $483.64 0.55
Vancouver Foodie Tours Granville Island Market Tour 14,500 $79.09 0.55
Niagara Air Tours for One 31,400 $168.37 0.54

1 As found through Google Shopping, with 13% sales tax and shipping costs included.

HSBC Rewards Rocky Mountains Helicopter Tour

HSBC Rewards Experiences Granville Island Foodie Tour

Redeem HSBC Rewards for travel: 0.5 CPP

Using your HSBC Rewards for travel is extremely easy. All you have to do is book your travel using your HSBC Mastercard, including:

  • flights,
  • vacation packages,
  • rental cars,
  • hotels,
  • cruises,
  • rail tickets, and
  • tours.

Then, within 60 days of booking your travel, use your HSBC Rewards to get a self-booked travel rebate for those transactions through your HSBC Mastercard online account or by calling HSBC Rewards Customer Care.

You’ll get 0.5 CPP for travel redemptions.

The best part? There are no blackout dates, and you can use any travel agent, airline, or website to book your travel, allowing you to take advantage of deals and special offers to maximize your savings.

Redeem HSBC Rewards for gift cards: 0.45 – 0.49 CPP

There are a huge number of gift cards you can purchase with your HSBC Rewards points, and this is a pretty good way to use your rewards, coming in close behind travel in value. And the higher value of the gift card you buy, the better value you get for your points.

Gift Card Value Point Cost CPP Value
$50 11,100 0.45
$100 21,100 0.47
$200 41,100 0.49
$500 101,100 0.49

HSBC Rewards gift card Sephora

HSBC Rewards gift card

HSBC Rewards gift card Costco

HSBC Rewards gift card Golf Town

Gift cards are available from a wide array of stores, including:

There’s almost guaranteed to be something useful in that list for everyone.

It’s important enough to mention a second time that having a CPP value for gift cards that’s close to the highest CPP value for the entire rewards program is exceedingly rare. Normally gift cards are valued minimum 30% less than other options.

Redeem for charitable donations: 0.46 – 0.48 CPP

HSBC Rewards can be redeemed for credits to a Charitable Impact account, which you can then use to donate to any of the over 86,000 Canadian charities registered with that service.

It’s a super simple way to get great value for your HSBC Rewards while doing some good. What’s not to love about that?

Donation Value Point Cost CPP Value
$50 10,800 0.46
$100 20,800 0.48

HSBC Rewards $50 donation

HSBC Rewards $100 donation

Redeeming HSBC Rewards for merchandise: 0.3 – 0.5 CPP

HSBC Rewards can be redeemed for a wide variety of brand name merchandise, including:

  • electronics and gadgets, including cell phones,
  • home and personal,
  • outdoor and garden, and
  • sports, among others.

HSBC Rewards merchandise

Here are some examples of the kinds of merchandise you can currently get with your HSBC Rewards.

Merchandise Point Cost Estimated Retail Value1 Approximate CPP Value
Denby Natural Canvas 16-piece Dinnerware Set 121,700 $678.00 0.56
Apple iPad Air 10.5″ 256GB with Wi-Fi 198,800 $989.13 0.50
Apple iPhone 11 128GB 242,600 $1185.37 0.49
Black & Decker Drill and Project Kit 46,200 $225.99 0.49
Amazon Echo Dot Smart Speaker 20,700 $79.09 0.38
Bowers & Wilkins PX Noise Cancelling Wireless Headphones in Soft Gold 112,700 $413.92 0.37
Bodum Chambord Coffee Press – 1L 20,400 $74.09 0.36
Fossil Fiona Large Crossbody Bag 34,200 $122.04 0.36

1 As found through Google Shopping, with 13% sales tax and shipping costs included.

HSBC Rewards merchandise Denby dinnerware

HSBC Rewards merchandise iPad

HSBC Rewards merchandise Bodum

Use your rewards for HSBC statement credits: 0.3 – 0.4 CPP

You can redeem your HSBC Rewards for HSBC financial products, including statement credits, which is a lot like redeeming them for cash. Here’s what you can get:

Financial Product Point Cost CPP Value
$15 HSBC Mastercard account credit 5,000 0.30
$20 HSBC Mortgage account credit 5,000 0.40
$15 HSBC Savings account credit 5,000 0.30

HSBC Rewards financial products

Obviously, straight up cash is useful for everyone, and it’s always nice to put a few extra bucks on your mortgage every now and again.

That said, there’s little reason to take a statement credit at a 0.30 CPP value when you can get a gift card to the grocery store or Amazon at close to a 0.50 CPP value.

Transferring HSBC Rewards internally

Each HSBC Mastercard has a different terms and conditions booklet for its associated rewards program, and each rewards program has a unique name. These include:

  • HSBC Jade World Elite Rewards Program,
  • HSBC Premier World Elite Rewards Program,
  • HSBC World Elite Rewards Program,
  • HSBC Premier Rewards Program,
  • HSBC Premier World Rewards Program,
  • HSBC BusinessVantage Rewards Program,
  • HSBC Advance Rewards Program,
  • HSBC +Rewards Rewards Program,
  • HSBC Personal Rewards Program, and
  • HSBC Advance Cash Back Rewards Program.

HSBC Rewards Programs

At some point you may decide that you’d like to transfer your HSBC Rewards points from one program to another, and this is allowed, given various restrictions. Of course, you can only do a transfer if your account is in good standing.

Read the terms and conditions for your credit card for more information.

Transferring HSBC Rewards to airline miles

If you have one of the HSBC World Elite Mastercards, you’re also able to use your HSBC Rewards by converting them into airline miles. There are 3 travel partners you can directly transfer them to, at the following rates:

Airline Miles Point Cost Approximate Return On Purchases
Asia Miles 8,000 Asia Miles 25,000 0.96 – 1.92 miles per $1 spent
KrisFlyer Miles 9,000 KrisFlyer Miles 25,000 1.08 – 2.16 miles per $1 spent
British Airways Executive Club 10,000 Avios 25,000 1.2 – 2.4 miles per $1 spent

Earn rewards with HSBC Mastercards

The only way to earn HSBC Rewards is by using an HSBC Mastercard, including the HSBC World Elite, HSBC +Rewards, HSBC Premier World Elite, HSBC Premier, and HSBC Advance Mastercards.

Let’s look at what a couple of these cards have to offer.

Credit Card Welcome Bonus2 Earn Rates Annual Fee, Income Requirements Apply Now
HSBC World Elite Mastercard * 20,000 bonus points after you make your first purchase
* 40,000 bonus points when you spend $5,000 in your first 180 days (terms)
* 6 points for every $1 spent on travel
* 3 points for every $1 spent on all other eligible purchases
* Annual fee of $149, rebated for the first year
* $80K personal/ $150K household income requirement
Apply Now
HSBC +Rewards Mastercard * 10,000 bonus points after spending $2,000 in the first 180 days (terms) * 2 points per $1 spent on dining and entertainment
* 1 point per $1 spent on all other purchases
* Annual fee of $25, rebated for first year
* No income requirements
Apply Now

2 These offers are not available in Quebec. For Quebec residents, click on the terms link to see your offers.

A premium travel card with no foreign transaction fees

The is a clear choice if you’re a frequent traveller. Not only do you earn HSBC World Elite Rewards at 2x the normal rate when making travel purchases, you can redeem those points to pay for other travel purchases later. You’ll also get access to all those sweet World Elite benefits.

With this card you’ll earn:

  • 6 points for every $1 spent on eligible travel purchases, and
  • 3 points for every $1 spent on all other eligible purchases.

If you redeem for travel you’ll get 0.5 CPP, giving you a return of 3% on travel purchases, and 1.5% on (almost) everything else.

This card also comes with a generous welcome bonus of up to 60,000 bonus points:

  • 20,000 bonus points after you make your first purchase, and
  • 40,000 bonus points after you spend $5,000 in the first 180 days.

Additional bonuses for frequent travellers include:

  • 0% foreign transaction fees,
  • 11 types of included purchase protection and travel insurance,
  • $100 annual travel enhancement credit on your card anniversary,
  • complimentary LoungeKey membership, and
  • a 10% discount on hotel bookings made through HSBC Expedia.

And you get all of this for a $149 annual fee, which is currently rebated for the first year you have the card.

Flexible rewards and low interest rates

If you’re not a frequent traveller, the HSBC Plus Rewards program might be a better fit for you. Use the to earn these rewards, and get low permanent interest rates as an added bonus.

First off, the rewards earn rates:

  • 2 points for every $1 spent on eligible dining and entertainment, and
  • 1 point for every other eligible $1 spent.

This gives you a return of 0.5% on all purchases, which doubles to 1% for eligible dining and entertainment purchases.

You also get a welcome bonus of 10,000 points after spending $2,000 in the first 180 days you have the card.

In terms of special features, this card has:

  • a low annual fee of $25, currently rebated for the first year, and
  • a low permanent interest rate of 11.9% for all purchases, cash advances, and balance transfers.

If you’re looking to both save money on interest and fees while also earning rewards, the HSBC +Rewards Mastercard is one of the rare credit cards that offers that combo.

Your turn

One of the most difficult things about putting this article together is getting verifiable information about the point costs and retail values associated with various HSBC Rewards redemption options.

If we come across more up to date or accurate information, we will update this article as needed.

Do you collect HSBC Rewards?

If so, and if you’re seeing different information, point values, redemption options, or anything else that may be different than what we have here, please let us know which card you have and what differences you’re seeing, because we’d love to make this guide as reliable and accurate as possible.

Please leave us a note in the comments. Any help would be greatly appreciated!


Do HSBC Rewards expire?

HSBC Reward points do not expire as long as your account is in good standing. However HSBC, like most rewards programs, reserves the right to cancel your rewards at any time. Read the HSBC Rewards terms and conditions for your credit card to make sure you fully understand the rules for the program.

What’s the most valuable way to redeem HSBC Rewards?

According to our calculations, the most valuable way to use your HSBC Rewards is for experiences, which include helicopter rides and foodie tours, among other things. If you’re not into those sorts of things, the next best way to use your points is for travel, with gift cards coming in at an unusually close 3rd.

I don’t travel a lot, is the HSBC Rewards program useful for me?

The HSBC Rewards program is very flexible, offering a wide range of ways you can redeem your points. And these points hold their value well, regardless of what you’re redeeming them for. So, yes, the HSBC Rewards program is useful for pretty much everyone.