HSBC Advance Mastercard Review

Who is the HSBC Advance Mastercard for?

The HSBC Advance Mastercard benefits those looking for rewards at no cost (as long as you have an HSBC checking account). This card offers 3x points on entertainment and dining purchases and 2x points on all other purchases for the first 12 months. After this introductory time period, the rewards rate drops to 2x points per dollar spent on entertainment and dining and 1x point per dollar on all other purchases.

In addition to the rewards, this card offers a variety of other perks. You will receive 0% APR on all purchases and balance transfers for the first 12 months of ownership. Also, there is a multitude of other travel benefits. These include no foreign transaction fees and MasterRental coverage among others.

This card is suitable for people who want a rewards system with very low fees. As long as you maintain an HSBC checking account, you will be able to waive the annual fee and earn rewards and travel benefits, while taking no money out of your wallet. For those who spend a lot on dining and entertainment, this could be the card for you.

Bonus Rewards Period

For the first 12 months, you will receive 3x points on dining and entertainment and 2x points on all other purchases, for up to $25,000 of purchases. We recommend that you think of large dining or entertainment, such as tickets to the Super Bowl, and purchase those immediately in order to maximize your rewards. Be careful though; $25,000 is a lot of money but can be blown through easily, so do not get stuck making a large purchase, such as a new car, right away or else you will waste your $25,000 without receiving the 3x points bonus.

Rewards

After the 12 month period or $25,000 has been spent, you will receive 2x points for dining and entertainment purchases and 1x points on all other purchases. This rewards system is very structured and simple, preventing the owner from having to research the ideal categories to choose for their increased points.

However, this lack of flexibility can hurt those who do not spend ample amounts of money on dining and entertainment and would rather spend money on categories that they use more often, such as gas stations.

Redemption Possibilities

Points earned from this card can be redeemed in a variety of ways. First, there are a variety of different travel purchases that can be made using these points. Book hotels, flights, and car rentals directly with points. This redemption option will allow you to get access to tickets to over 120,000 local experiences at more than 1,300 locations around the world, giving you the travel experience that fulfills your needs.

You can also redeem points in the form of cash rewards. Using the cashback option, you will have the ability to directly deposit cash to your HSBC bank account, allowing you to pay off any balances you may have.

Third, you are able to use your points on a plethora of different gift cards. HSBC points will give you gift card access to more than 100 different brands, allowing you to find the perfect fit in a category of your choosing. Among the most popular are Starbucks, Macy’s, Home Depot, Amazon, and Best Buy.

Finally, you are able to redeem your points in the form of merchandise. You will have access to a constantly updated list of over 3,000 items to spend your points on. Categories range from luggage to electronics, to fashion, and everything in between. You can use your points to stay on top of the latest fashion trends for both your attire and your house and make yourself the trendiest points owner around.

Benefits

This point system is accompanied by many benefits, including 0% APR for 12 months on balance transfers and purchases made by this card. Thus, financing large entertainment and dining purchases within 12 months of the opening of this account will allow the owner to avoid paying any extra interest charges.

This card has a large number of travel benefits, allowing you to be comfortable no matter where in the world you may be. First, there is no foreign transaction fee, saving you from the usual 3% extra on foreign purchases. When traveling internationally, people tend to spend a lot of money, so you saved money from the removal of this fee will add up.

Another travel benefit is that if you use onefinestay, you will receive a 10% discount on more than 10,000 high-end rentals in cities such as Los Angeles, New York City, London, Paris, and more.

This card will also provide you with access to MasterRental Coverage. For all rental vehicles booked using this credit card, you will receive protection from any damages or theft to your vehicle.

Everyday Deals

If you sign up for the HSBC Advance Mastercard, you will receive complimentary ShopRunner membership. ShopRunner membership will give you free 2-day shipping and free return shipping on shopping at over 140 online stores.

Also, HSBC has partnered with Postmates to meet your food delivery needs. On any order of over $25, you will receive a $5 discount if you pay with this card. On lazy days in which you do not feel like leaving your bed, you can use Postmates to order food, groceries, or drinks from a variety of different neighboring restaurants.

Also, this card has added benefits for the everyday golfer. Owners of this card will have access to select golf courses, grounds passes for PGA Tournaments, and lessons with PGA Tour professionals. You will be able to improve your game or spend a quality afternoon on the course due to this added amenity.

Protection

This card will give you access to Mastercard ID Theft Protection. If you believe you are a victim of identity theft, Mastercard will provide you with a variety of protection services. Also, you will receive cell phone protection on lost and damaged phones. This will allow you to receive reimbursements of up to $600 for damaged or stolen cell phones. Also, you will be able to use contactless pay with this credit card. Simply place your card on the card reader and walk out with your easily paid items.

No annual fee

The key to successfully using this credit card is also having an HSBC advance or premier checking account. In order to receive no annual fee, you must have one of these checking accounts. Your first year will be free regardless, even if you do not have an HSBC checking account. However, after the first year, people who do not maintain their HSBC checking account will then be charged $45 annually for use of this credit card. Thus, make sure to utilize an HSBC checking account if you plan on using this credit card.

Conclusion

The HSBC Advance Mastercard is a rewards gift card with few fees, especially if you contain an HSBC checking account. You will receive additional points for your first year of credit card usage and extra points for dining and entertainment purchases, and these rewards are paired with a variety of travel benefits, everyday deals, and protection services. Redeem your points how you want to, and enjoy the perks of owning the HSBC Advance Mastercard.