Review of HSBC Mastercard with Cash Back Rewards



The HSBC Mastercard with Cash Back Rewards was last reviewed on 22nd October 2005

Summary - The HSBC Mastercard with Cash Back Rewards is a basic cash back credit card that allows you to earn a 1% cash rebate for every dollar you spend on the card. Unlike all other cash back credit cards, you can earn unlimited cash rebates. You also get a generous 0% apr on balance transfers for 12 months. This card will apeal to those who spend a lot and want a basic cash back credit card.

Cash Back Formula - The HSBC Mastercard with Cash Back Rewards gives you a 1% rebate for every dollar you spend on the card. You can earn unlimited rebates.

Annual Fee - The HSBC Mastercard with Cash Back Rewards has no annual fee. The apr is either prime rate plus 3.74%, 7.74% or 10.74% depending on their accessment of your credit. You also get a 0% introductory apr offer on your balance transfers for 12 months from the date of account opening. You can transfer up to 3 balances. The average daily balance method (including new purchase) is used to calculate montly balances.

Conclusion - The HSBC MasterCard® with Cash Back Rewards will appeal to those looking for a basic no-frills cash rebate credit card. Though there may be other cash back credit cards that pay a slightly higher payout for items like gasoline purchases, supermarket market purchases, they all limit you on the amount of cash rebates you can earn in one calender year. This is not the case with this HSBC Mastercard. In fact, this is perhaps the only cash back credit card which lets you earn unlimited rebates. In addition, you get a very generous 0% introductory apr on balance transfers for the first 12 months.

Positives
  • Earn unlimited rebates
  • No annual fee
  • 0% apr for 12 months on balance transfers
  • Low apr if you qualify


Negatives
  • Does not pay more than 1% on "everyday purchase" items



HSBC Mastercard with Cash Back Rewards
Rebate Formula
Reward Points Earn 1% rebate for every dollar you spend
Caps on Rebates Earn unlimited points or cash rebates
Benefits
24 hour support, toll-free customer service and online account access
Free online bill pay
Zero liability on any unauthorized purchases
MasterCard card global service provides worldwide, 24-hour assistance with lost and stolen cards, emergency card replacement and emergency cash advances
Cost/Fees/Interest rates
Introductory rate 0% apr for 12 months
Annual Fees No annual fee
Purchase APR Prime Rate plus 3.74%, 6.74% or 9.74%
Balance Transfer APR Prime Rate plus 3.74%, 6.74% or 9.74%
Cash Advance APR Prime Rate plus 15.99%
Min Finance Charge $0.50
Grace Period 20 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance Fee 3% min $5.00, max $50.00
Balance Transfer Fee 3% min $5.00, max $75.00
Over-the-credit-limit fee $35.00
Late Payment fee $15.00 - up to $100
$25.00 - $100.01-$1000
$39.00 - greater than $1000



Apply for the HSBC MasterCard with Cash Back Rewards

If you already have this credit card, we appreciate if you can post your review of this card. This will help our readers very much. You can post your review here.




 RSS
RSS Feed For This News



 

Credit Card Reviews and Tips News Home | Archives | Articles | Links | About