Get flexible travel rewards and low interest rates with the HSBC +Rewards Mastercard. Earn rewards on everything you buy, plus bonus points on your nights out, all while saving on credit card interest rates.

Annual Fee
Extra Card Fee
Card Type
Cash Advance
Balance Transfer
Personal Income
Household Income
Canadian resident who has reached the provincial age of majority.
Extended Warranty 1 year
Purchase Protection 90 days
Price Protection Yes

Please review your insurance certificate for details, exclusions and limitations of your coverage.

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Our Review

Do you want a low interest credit card that can still earn you valuable rewards on every purchase? The HSBC +Rewards Mastercard can get you both – all while having a low $25 annual fee.

Of all cards we currently have in our database, only 4 of them offer rewards packaged with permanently low interest rates – making this a rare combination.

Here's everything this card has to offer.

Earning HSBC Rewards

On every purchase you make with this card, you'll be earning flexible HSBC Rewards, which are easy to use with multiple options for redemption.

What HSBC Rewards can be used for

The best way to use your points is with travel. Simply charge any travel purchase to the card, then use your points to pay for it. Each point is worth 0.5 cents when redeemed for travel.

There are of course other ways you can use your points as well:

  • merchandise,
  • gift cards,
  • experiences,
  • statement credits, and
  • deposits into HSBC bank accounts.

Earning HSBC Rewards

So now that you know what you can use HSBC Rewards for, how do you earn them on your purchases?

Here's what you'll earn:

  • 2 points per $1 spent on eligible dining and entertainment, and
  • 1 point per $1 spent on all other purchases.

You can also earn 20,000 bonus points after spending $2,000 in the first 6 months.

Low interest rates

One of the best features of this card are the low interest rates.

Instead of the typical 20%+ interest rates charged by other cards, you'll see a low interest rate of 11.9% on purchases, cash advances, and balance transfers.

If you tend to carry a balance on your credit card, you'll see some major savings in your interest payments.

Purchase insurance

When making purchases, you'll be covered with this card.

It offers the 3 major types of purchase protection:

  • extended warranty,
  • purchase protection, and
  • price protection.

The last one is a rare insurance coverage not offered by many credit cards. If an item you purchased goes on sale for a lower price within 60 days, you can be reimbursed the difference (up to $500). It's a great way to make sure you get the best price.

Annual fee

For a card that offers rewards coupled with low interest rates, it has a very reasonable annual fee of $25.

Some drawbacks

The card isn't without a couple of drawbacks. Even though it does offer low interest rates, other cards that skip on the rewards will provide even greater interest savings.

As for the rewards, there are plenty of other no fee cards that offer better rewards as well. If earning rewards is your main goal, there are better cards for you.

The bottom line

For a combination card that offers both rewards and low interest rates, the HSBC+ Rewards Mastercard has the complete package for a low annual fee of $25.

If you tend to carry a balance on your card, it might just be one of the best credit cards for you.

What are your thoughts?

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