In fast-moving credit markets, the HSBC Rewards Card offers simple earning, flexible redemptions, and short introductory 0% periods that suit everyday spending.
Under current UK terms, the card carries a representative APR of 26.9% (variable) with a typical assumed limit of £1,200, plus a limited-time 0% purchase offer for the first six months after account opening.
Points can be used like cash through Mastercard Pay with Rewards, keeping redemption friction low at checkout.
What the HSBC Rewards Card Is
Across online and in-store purchases, the card earns reward points on eligible spending, then lets those points offset future transactions via Pay with Rewards.
Because acceptance rides on the global Mastercard network, the card works in most places where major cards are accepted.
For applicants prioritizing clarity, HSBC publishes a representative APR, purchase rate, and assumed example limit, so pricing stays easy to compare against peers.
Key Benefits and Sign-Up Bonus
A short overview helps lock in value right away, especially when chasing introductory rewards. Focus on meeting the first-transaction requirement, timing high-value purchases inside promotional windows, and redeeming points efficiently.
Consistent card activity, paid on time, helps maintain access to future anniversary points and keeps borrowing costs down once promotions end.
Core Earning and Redemption
Earning runs on two tracks: a base earn on everyday spend and occasional enhanced earn at selected partners.
Current UK guidance lists 1 reward point for every £5 spent and up to 10 points per £1 at named stores, while redemption flows through Mastercard Pay with Rewards in-app or online.
That setup allows points to reduce the next purchase directly, rather than waiting for statement credits or gift cards.
Introductory Offers
New cardholders can receive 2,500 welcome points worth £25 after making the first transaction, an easy early boost when aiming for the HSBC Rewards Card sign-up bonus.
In addition, the product currently advertises 0% on purchases for 6 months and 0% on balance transfers for 6 months when transfers are made within 60 days; a balance transfer fee 2.99% (minimum £5) applies.
Promotional rates revert to the standard variable rate when the intro period ends.
Longer-Term Bonuses
After the first year’s spend crosses £10,000, another 2,500 bonus points can be awarded, and HSBC indicates anniversary eligibility can continue in each of the first five years, with points credited up to 60 days after each anniversary.
Keeping spending “eligible” matters because cash-like transactions and fees do not count toward bonuses.
Interest Rates and Representative Example
Representative pricing helps set expectations before applying. The representative APR 26.9% (variable) aligns with a purchase rate of 26.9% p.a. and an assumed limit of £1,200, with no annual fee listed on the current comparison page.
Interest rates remain variable and can change; at the end of any promotional period, both purchases and balance transfers revert to the card’s standard variable rate.
Eligibility and Basic Requirements
UK applications follow familiar criteria: over 18, UK resident, and annual UK taxable income or pension of at least £6,800 before tax. Applicants must not hold an HSBC Basic Bank Account at the time of application.
Affordability and credit checks will determine approval and final credit limits; balances generally cannot be transferred from other cards within HSBC Group (e.g., first direct or M&S Bank).
For newcomers, HSBC may consider international credit history in selected cases.
How to Get the Best Sign-Up Bonus
Clear planning captures value without paying unnecessary interest. Time the first purchase immediately after approval to trigger welcome points, then cluster larger planned expenses within the 0% purchase offer window to avoid finance charges.
Balance transfers, if needed, should be initiated within 60 days to qualify for 0% treatment, while remembering the one-off fee.
Maintaining on-time payments protects eligibility for anniversary points and keeps future promotional offers within reach.
How to Apply
A quick pre-check reduces declines and protects credit files when eligibility looks borderline. Existing HSBC customers generally complete everything in-app; new customers apply online.
Keep identity and income documents ready so underwriting can move without back-and-forth.
- Visit the official Rewards Credit Card page and review the important documents and eligibility checklist.
- Run the quick eligibility check if prompted, then start a full application in app or browser.
- Enter personal details, address history, employment, income, and regular outgoings accurately.
- Upload or present identity and income proofs when requested to avoid avoidable delays.
- Activate the card in the app once approved, then add to a mobile wallet for immediate use.
Managing the Card and Rewards
Digital banking keeps daily control tight. The HSBC Mobile Banking app and online banking show balances, recent transactions, statements, and payment options; card freeze and unfreeze tools mitigate risk if the card is misplaced.
For redemptions, enable Mastercard Pay with Rewards and toggle “Next purchase” when planning to offset an upcoming charge at participating merchants.
Regular statements will also reflect points activity for easy reconciliation during tax or budgeting reviews.
Using the Card Abroad
Travel usage behaves like domestic transactions, subject to any foreign-currency or cash-machine fees disclosed in the product materials.
Because the card runs on Visa and Mastercard networks, acceptance spans most countries and regions globally.
Customer support remains available 24/7 worldwide for card loss, theft, or emergency cash assistance, and Mastercard Priceless experiences add location-specific dining, culture, and event access in many cities.
Responsible Use and Security Tips
Healthy habits preserve your gains from sign-up and anniversary bonuses while limiting interest costs after promotions expire. Keep settings for payment reminders active and audit statements monthly.
- Pay at least the full statement balance during promotional periods to avoid trailing interest later.
- Set a fixed payment date and enable autopay for the minimum plus an extra buffer amount.
- Avoid cash advances and cash-like transactions that typically don’t earn points and attract fees.
- Monitor transactions in-app and freeze the card immediately if anything looks off.
- Reassess spending before promotions end so large balances don’t roll to standard rates.
Frequently Checked Facts
Short confirmations below reflect the UK product on November 1, 2025; regional versions can differ in rates, eligibility, and redemption catalogs.
- Welcome points: 2,500 points worth £25 after first transaction.
- Anniversary points: 2,500 points when spending £10,000+ in each of the first five years.
- Intro rates: 0% on purchases for 6 months; 0% on balance transfers for 6 months within 60 days, fee applies.
- Pricing example: representative APR 26.9%, purchase rate 26.9% p.a., assumed limit £1,200.
- Redemption: spend points directly at participating merchants through Mastercard Pay with Rewards.
- Eligibility snapshot: over 18, UK resident, £6,800+ annual taxable income or pension, and no HSBC Basic Bank Account.
Conclusion
Across everyday spending, the HSBC Rewards Credit Card delivers straightforward earning, easy checkout redemption, and helpful introductory pricing when managed predictably.
Strong applications align to UK credit card eligibility guidelines, while smart usage targets early purchases, on-time payments, and planned redemptions through HSBC points redemption tools.
For travelers, global acceptance and support combine neatly with Mastercard Priceless experiences, making the product practical for domestic routines and international trips alike.
