HSBC Advance Mastercard

Application Link

Key Features

  • Sign-up bonus: $250 (after spending $1,500 in the first 3 months)
  • Cash back earnings: 2% on dining and certain entertainment purchases, 1% on everything else
  • No foreign transaction fee
  • $45 annual fee / waived for eligible customers

Highlights

  • No annual fee for premium banking customers: If you are an HSBC Advance customer (Advanced checking + $10,000 in deposits + $5,000 in monthly DD) or an HSBC Premier customer (Premier Checking + $100,000 in deposits), this card has no annual fee.
  • 12 months of 0% APR: Purchases made after opening the card can enjoy a 12-month introductory APR period, and you only need to pay the minimum each month. Be careful to always pay at least the minimum due every month. See also: How to pay during a 0 APR period and Practical ways to use credit card 0 APR offers.
  • Travel insurance: You and your family members are covered for up to $1 million when traveling on a commercial passenger vehicle; rental cars are covered for up to $500,000.
  • Purchase protection: Includes extended warranty, Price Protection, and 90-day purchase protection.

Cons

  • Only those who have an Advance or Premier Checking account can apply

My Take

For an HSBC credit card with no annual fee for eligible premium banking customers, the $250 sign-up bonus is pretty decent. The travel and shopping protections are also solid, and having no foreign transaction fee is a big plus. That said, points are probably most useful when redeemed for cash at 1:1; redeeming for gift cards or using points to shop directly is likely a poor value. (I looked through HSBC’s terms and couldn’t find the exact redemption ratios. If you have this card and know more, feel free to leave a comment.)

Application

  • Application difficulty: Unknown
  • Things to note: You must have an Advance or Premier Checking account to apply

Application Link