What is the Best HSBC Credit Card for You? Here's How to Choose

One of the best things about owning a credit card is that you can easily expand your collection. If your current card can’t keep up with your lifestyle, you’re free to get another one as long as you’re financially responsible enough.

Wondering which new card to go for? Check out the best HSBC credit cards in the Philippines.

While HSBC’s card lineup is leaner than that of other providers, each option packs many perks for every type of cardholder. From accelerated rewards to generous rebates, these cards carry all the makings of your next shopping must-have.

Not sure what HSBC credit card to get? Read this guide to make an informed decision.

Types of HSBC Credit Cards in the Philippines

In the Philippines, HSBC offers three types of credit cards, making it easier for you to decide on one. Here's a quick glance at HSBC's lineup:

Credit Card	Annual Fee	Minimum Annual Income Requirement	Key Features
HSBC Red Mastercard	₱2,500	₱200,000	4x bonus points on online, shopping, dining, and overseas transactions 1 bonus point for every ₱20 spend 6% rebate on your first Caltex fuel purchase and 3% fuel rebates year-round
HSBC Live+ Credit Card	₱5,000	₱200,000	Cashback on various categories: Dining - Up to 8% Online and offline shopping - 5%  Entertainment (such as movies) - 5%  Fast food and applicable merchants - 2%  Caltex transactions - 6% on your first transaction; 3% all year round
HSBC Gold Visa Cash Back	₱2,500	₱200,000	5% rebate on dining transactions 0.20% rebate on all other transactions 3% rebate on Caltex fuel purchases
HSBC Premier Mastercard	Waived for life	At least ₱3.6 million (applicants are also eligible when they meet the required Total Relationship Balance of ₱3 million or they have an existing home loan with the bank worth at least ₱6 million)	3x bonus points on local shopping or dining transactions 4 bonus points for every ₱20 spend on overseas purchases 1 air mile for as low as ₱25 spend Membership to over 1,300 airport lounges worldwide Free travel insurance  6% rebate on your first Caltex fuel purchase and 3% fuel rebates year-round

Here’s a more in-depth look at how the three HSBC credit cards differ from each other.

💳 HSBC Red Mastercard

The HSBC Red Mastercard is the perfect choice for cardholders looking to earn more rewards with every transaction. 

Every dining, shopping, online, and overseas transaction earns you 4x rewards points. Use these points to redeem exciting rewards from over 27,000 establishments in 160 countries and territories worldwide.

HSBC Red Mastercard Features

• 4x rewards points on dining, shopping, online, and overseas transactions
• 1 rewards point for every ₱20 spend
• 6% rebate on your first Caltex fuel spend; 3% year-round

HSBC Red Mastercard Fees and Charges

• Annual fee: ₱2,500 (free in the first year)^[1]
• Interest rate: 3%
• Cash advance fee: ₱200
• Foreign currency transaction fee: 2.5%

Want to explore other options with similar features to the Red Mastercard? One of these two RCBC credit cards for shopping might suit you better. 

Consider the RCBC ZALORA Credit Card if you shop there often—you'll get shopping credits, cashback, rewards points, and more. If you're a loyal Landmark or Anson's customer, take a look at RCBC Landmark Anson's Mastercard instead. This co-branded credit card is packed with perks like rewards, rebates, and more for your grocery and appliance needs.

💳 HSBC Gold Visa Cash Back Credit Card

For rebate hunters and money-savvy cardholders, the HSBC Gold credit card is a solid option. True to its name, the HSBC Gold Visa Cash Back offers generous rebates on dining transactions. 

This credit card will also help save you money on gas at Caltex stations nationwide with rebates of up to 6%. 

HSBC Gold Visa Cash Back Features

• 5% cashback on dining transactions
• 0.5% cashback on every other spend
• 6% cashback on your first Caltex fuel spend; 3% year-round

HSBC Gold Visa Cash Back Fees and Charges

• Annual fee: ₱2,500 (free in the first year)^[1]
• Interest rate: 3%
• Cash advance fee: ₱200
• Foreign currency transaction fee: 2.5%

Looking for other cashback credit cards? The BPI Amore Cashback Card is a good option for consumers who prefer rebates over rewards. This credit card lets you save up to 4% cashback on essential spend at supermarkets and department stores.

💳 HSBC Platinum Visa Rebate

The HSBC Platinum Visa Rebate offers upgraded perks. It's one of the best HSBC credit cards because it earns 5% cashback on every shopping and travel transaction. You also get free travel insurance coverage of up to ₱10 million and free purchase protection insurance of up to ₱15,000 to insure damaged or lost goods. 

HSBC Platinum Visa Rebate Features

• 5% rebate on shopping and travel transactions
• 1% rebate on insurance payments
• 0.50% rebate on every other spend
• 6% rebate on your first Caltex fuel spend; 3% year-round

HSBC Platinum Visa Rebate Fees and Charges

• Annual fee: ₱5,000 (free in the first year)^[3]
• Interest rate: 3%
• Cash advance fee: ₱200
• Foreign currency transaction fee: 2.5%

If you're after points instead of rebates, the Metrobank Platinum Mastercard® makes for a good alternative. Like the HSBC Platinum Visa Rebate card, this card offers a lot of premium features—a generous rewards program, exclusive dining offers, and more.

How to Choose the Best HSBC Credit Card in the Philippines

Of the three HSBC credit card options above, which is the right one for you? Here are some tips to help you make the right choice:

👍 Get a Card That Fits Your Lifestyle

Before you start comparing credit cards, it’s best to ask yourself, “What do I need this credit card for?” If you already have a credit card, you have to justify why you need a second one.

A good way to start is to assess your lifestyle. Track your spending habits by listing down your monthly expenses. 

What do you usually spend on? If you use your credit card for shopping, then get an HSBC card that gives you benefits with every swipe.

Go with the Red Mastercard if you want to earn more rewards points. On the other hand, the Gold Visa Cash Back or the Platinum Visa Rebate are both great options if you’re more interested in rebates. 

Do you use your credit card mostly for booking flights or shopping overseas? Get either the Red Mastercard or the Platinum Visa Rebate, which both yield competitive rewards for overseas transactions. 

Once you know what you want to use your credit card for, you're one step closer to choosing the right HSBC credit card. 

Still can't decide on the best HSBC credit card for you? Here's an easy comparison guide you can refer to. Pick the card that ticks the most boxes on your must-have features list.

👍 Work Within Your Budget

Now that you know the purpose of your next credit card, it’s time to examine your financial capability. After all, income is one of HSBC's eligibility criteria. 

If you’re earning at least ₱500,000 annually, then you’re free to choose any of the best HSBC credit cards available. For those earning at least ₱200,000 annually, your choices boil down to the Red Mastercard and the Gold Visa Cash Back—both of which are solid options nonetheless. 

There are also fees and charges to consider.^[4] You can enjoy no annual fees in the first year, but after that, you need to pay ₱2,500 for the Red Mastercard and Gold Cash Back; and ₱5,000 for the Platinum Visa Rebate. 

Note that the interest charge is currently at 3%, so use your credit card wisely to avoid penalty fees that stack up over time.

👍 Choose Perks That Bring the Most Value

Once you’ve nailed down the basics, it’s time to choose the perks that matter to you. With HSBC credit cards, the choice is simple: Do you want rewards or rebates? 

If you want to earn accelerated rewards, go with the HSBC Red Mastercard. After all, earning 4x rewards points is nothing to scoff at.

But if a 5% rebate sounds better to you, go with either the HSBC Gold Visa Cash Back or the HSBC Platinum Visa Rebate.

HSBC Credit Cards FAQs

Photo: HSBC (www.hsbc.com.ph)

1. Are HSBC credit cards good?

Yes, HSBC provides some of the best options for your next credit card. As illustrated above, the benefits of an HSBC credit card are hard to ignore.

2. What is the best HSBC credit card?

The answer depends on what you value as a credit cardholder. If you want to redeem exciting rewards the fastest way possible, go with the HSBC Red Mastercard. 

If you’re looking to save with every swipe, apply for an HSBC credit card that can give you the most rebates: HSBC Gold Visa Cash Back or HSBC Platinum Visa Rebate.

3. Which is better: HSBC Red or Gold?

If you prefer earning more rewards points with every transaction, the HSBC Red Mastercard is the clear winner. But if you like saving a percentage of your spending, go for the HSBC Gold Visa Cash Back. 

Don’t forget to compare different HSBC credit card rates, fees, and other important features before making a final choice. 

4. Which HSBC credit card is best for online shopping?

If you love shopping online, get the HSBC Red Mastercard. Enjoy 4x rewards points on shopping and online transactions! 

5. How do I check my HSBC credit card application status?

To check your HSBC credit card application status, contact HSBC's Customer Service at (02) 8858-0000 or (02) 7976-8000. Note that it takes around five to 10 business days upon submission of completed documents to process your application.

6. How do I activate my HSBC credit card?

To activate your HSBC credit card, call HSBC at (02) 8858-0000 or (02) 7976-8000 and follow the instructions from the voice recording. HSBC will send a one-time password (OTP) to your registered mobile number to complete the process.

You can also activate your card by texting this to 09221001010:

HSBC<space>Last four digits of your card<space>Last Name<space>Birth Month and Year in MMMYYYY format (e.g., JUN1985) 

7. How do I redeem my HSBC credit card points?

To redeem your HSBC credit card rewards points, choose from HSBC’s rewards catalog^[5] and redeem the item you want by logging on to the HSBC website and submitting a filled-out online redemption form.^[6]  

8. How to pay my HSBC credit card bills?

Pay through these HSBC credit card payment options:

• Payment through HSBC 
  • EasyPay machines
  • For depositors: ATMs, online banking, mobile banking, phone banking, and Automatic Debit Arrangement (ADA)
• Payment through automated channels
  
  • UnionBank - ATMs, online banking
  • Security Bank - ATMs, online and mobile banking
  • BPI - ATMs, online and mobile banking
• Over-the-counter payments
  • SM Department Store, SM Hypermarket, Savemore Market, and selected SM Supermarket branches
  • Security Bank branches

Final Thoughts

Since you have only a few choices, it’s easy to decide on the best HSBC credit card for you. Still, that’s not an excuse to forgo weighing each option's pros and cons.

Always take the time to assess your own needs and budget. Once you have an HSBC credit card, don’t forget to use it responsibly while enjoying the amazing perks.

Sources:

• ^[1] HSBC Red Mastercard
• ^[2] HSBC Gold Visa Cash Back
• ^[3] HSBC Platinum Visa Rebate
• ^[4] HSBC Credit Card Fees and Charges
• ^[5] HSBC Offers and Rewards
• ^[6] HSBC Rewards Redemption