Monday, March 30, 2020

New HSBC +Rewards Mastercard offer - Up to 10,000 bonus points + first year annual fee waived with an 11.9% interest rate


Now that we are covering low interest cards more due to demand we wanted to let you know about another new offer from HSBC that launched today. Earlier we brought you details of the new offer on the HSBC World Elite Mastercard and now they have this limited time offer for their HSBC +Rewards Mastercard.

Related: Low Interest Credit Card Offers

This card is interesting in the fact that not only is it a low interest card with a standard low interest rate (not limited time)) but it also provides rewards. It's not the first card to do so but there sure aren't many that combine the two.

This card is still a relative newcomer to our market (here's our post about when it launched in August 2019) so it is still a relatively unknown card option for Canadians. You may be asking how are they able to offer low interest rates and rewards on the card? Well there is a trade off (isn't there always?). You see the rewards earning on the card is on the lower end of the spectrum which is the trade off for the low interest rate.

The card earns 1 HSBC Rewards point for every $1 spent on the card except for dining and entertainment where it earns 2 points per $1 spent. HSBC Rewards points are worth 0.5 cents each when redeeming towards travel which means this card gives a 0.5% return on all spending outside of the 1% for dining and entertainment. The return goes a bit lower when redeeming for statement credits or other reward options.

The interest rates on the card are 11.9% for both purchases and fund advances.

The good news is that as of today the new offer on the card sees its $25 annual fee waived in the first year and sees it's welcome bonus boosted from 5,000 points to 10,000 points. To earn the full bonus you have to spend $2,000 on the card in the first 180 days of having it. This offer runs until June 29, 2020 and conditions do apply.

Here are the most current details for this card:  

The offer is not available to residents of Quebec. If you reside in Quebec you can get 15,000 points with the card as long as you have the card 180 days and pay the $25 annual fee.

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