HSBC Visa Signature Card: Top Customisable Rebates

HSBC Visa Signature Card: Top Customisable Rebates

Personalised Cashback Rates & Discounted Cross Border Limousine Service

Good for

  • Consumers seeking rewards tailored to their spending habits
  • Those with a great deal of overseas spend
  • Travellers who prioritise free lounge access

Bad for

  • People who want a no-fee or maintenance-free card
  • Those without a good understanding of their spending habits
  • People with lower incomes or asset holdings

Editor's Rating

4.5/5.0

HSBC Visa Signature is great for consumers who want customisable cashback, especially frequent travellers. Cardholders earn 0.4% cashback on general spend, boosted to 1.6% in any of the "Rewards of Your Choice" categories (dining, spend overseas, in mainland China and Macau, and with select entertainment, home & lifestyle merchants).

Consumers can also allocate a bonus +2% cashback across the above categories and earn an extra 2% "Red Hot Online and Overseas" cashback (with HK$3k minimum category spend/quarter). Not only can frequent travellers earn up to 5.6% cashback overseas, they can also enjoy 1 free lounge visit per month with a HK$1.5k purchase. Overall, HSBC Visa Signature offers competitive, tailored rebates and one of the most generous lounge perks amongst cashback cards.

ProsCons
  • Up to 5.6% cashback overseas
  • Up to 3.6% cashback in other select categories
  • High 1.6% base rate in every select category
  • 12 free lounge visits/yr
  • Designated boosted categories cannot be changed after registration
  • High HK$2k annual fee (2-yr waiver)
  • Boosted rates apply to first HK$100k spend
  • High HK$360k min. inc. (Alt: HK$400k assets)
Promotions:
  • Receive HK$700 cashback w/ HK$/RMB8k min. spend in 1st 2mo
Card Overview
Pros:
  • Up to 5.6% cashback overseas
  • Up to 3.6% cashback in other select categories
  • High 1.6% base rate in every select category
  • 12 free lounge visits/yr
  • Promotions: Receive HK$700 cashback w/ HK$/RMB8k min. spend in 1st 2mo
Cons:
  • Designated boosted categories cannot be changed after registration
  • High HK$2k annual fee (2-yr waiver)
  • Boosted rates apply to first HK$100k spend
  • High HK$360k min. inc. (Alt: HK$400k assets)

What Makes HSBC Visa Signature Card Stand Out

HSBC Visa Signature Card is ideal for consumers who want to earn cashback tailored to their spending habits, especially if they frequently travel overseas. Cardholders earn 0.4% cashback on general local spend, boosted to 1.6% in any of the "Red Hot Rewards of Your Choice" categories of dining, overseas, spend in mainland China & Macau and spend with select entertainment, home & lifestyle merchants. Consumers can also allocate a bonus +2% cashback in increments of 0.4% across the above categories, according to their preference. Cashback in these "Rewards of Your Choice" categories is capped after HK$100k annual spend.

In addition to the +2% bonus above, cardholders also receive an extra 2% "Red Hot Online and Overseas" cashback boost, with HK$3k minimum spend in these categories per quarter. Frequent travellers can optimise rewards for overseas spend by allocating all of their "Rewards of Your Choice" and "Online and Overseas" bonuses into this category, ultimately earning an incredible 5.6% cashback overseas–one of the highest rates on the market. Rewards earned from the "Red Hot Online and Overseas" boost are capped at HK$100/month. As mentioned, consumers can opt to distribute the bonus "Rewards of Your Choice" cashback however they deem fit, although total rewards may vary greatly by spend.

Comparing Cashback Rewards Based on Spend and Bonus Distribution

Rewards AllocationOptimised to OverseasOptimised to DiningEvenly Across 5 Categories
Annual SpendHK$100kHK$100kHK$100k
Cashback EarnedHK$4.8kHK$3.6kHK$2.3k
Effective Rewards %4.80%3.60%2.27%
Bonus +2% Rewards of Your Choice can only be allocated once. Cashback Earned and Effective Rewards Rate include 2% Red Hot Online and Overseas cashback boost (capped at HK$1.2k/year).

In addition to top overseas rates, cardholders can also enjoy generous travel perks. Cardholders receive 1 free HKIA Plaza Premium lounge visit per month with a single purchase of HK$1.5k or more. This adds up to a potential 12 free lounge visits per year–far more than the 3 visit maximum offered by competitor cards. Consumers can also take advantage of discounts of up to 30% off Parklane cross-border limousine services and 10% off Hertz self-drive car rentals, making overseas transport especially affordable. Consumers ultimately enjoy more travel privileges with HSBC Visa Signature than with most other cashback cards on the market, which pairs perfectly with its outstanding overseas rates.

HSBC Visa Signature isn't ideal for every consumer, however. Since its "Rewards of Your Choice" bonus +2% can only be allocated across categories once, HSBC Visa Signature Card may not be the best fit for consumers with highly variable spending habits. HSBC Visa Signature Card is also not particularly easy to obtain and maintain. Consumers are only eligible if they meet either a HK$360k annual income requirement or hold at least HK$400k in assets. Additionally, cardholders pay a high HK$2k annual fee after an initial 2-year waiver. Competitor cards typically have a HK$150k minimum annual salary requirement and have lower annual fees or account-based waivers.

Comparing Overseas Rates, Income Requirements and Annual fees

Credit CardMax. OverseasMin. IncomeFeeWaiver
HSBC Visa Signature5.6%HK$360kHK$2,0002 Years
Hang Seng MPOWER5.0%HK$150kNoneN/A
HSBC Pulse UP DC Diamond4.4%HK$150kHK$1,8002 Years
EarnMORE UP Diamond2.0%HK$150kHK$8002 Years
SC Simply Cash2.0%HK$150kHK$2,0001 Year (waiver option)
Hang Seng MPOWER technically earns in Cash Dollars. Assumes that HSBC Visa Signature and Pulse have their overseas category maxed out. Consumers can also qualify for HSBC Visa Signature with HK$400k+ in assets. SC Siimply Cash provides a fee waiver for consumers with select SC banking accounts.

Nonetheless, HSBC Visa Signature Card makes up for these high fees by offering market-leading overseas cashback plus one of the most generous lounge perks amongst cashback cards. Even consumers who travel infrequently can still enjoy tailored boosts in select spend categories to match their spending habits. Altogether, HSBC Visa Signature Card is great for consumers seeking customisable cashback rewards, especially if they spend a great deal of time overseas.

How Does HSBC Visa Signature Card's Rewards Program Work?

Use our quick guide below to learn how you can redeem your credit card rewards.

  • Cashback is technically earned in RewardCash
  • RewardCash expiry varies (valid up to 2 years)
  • RewardCash is redeemed at the rate of RC$1 = HK$1
  • RewardCash can be pooled & transferred across different cards and cardholders in the Reward+ App
  • RewardCash can be redeemed to offset your monthly statement, or for goods, coupons or vouchers
  • Alternatively, you can redeem RewardCash through the HSBC Mileage Programme
  • Miles conversion rates vary by participating airline (min. redemption of RC$40 at a time)

HSBC Visa Signature Card's Features and Benefits:

Card Overview
  • Annual Fee: HKD 2,000, 2-Year Waiver
  • Income Requirement: HKD 360,000
Rewards Rate Details
  • 0.4% cashback on general local spend
  • 1.6% cashback on "Rewards of Your Choice" categories (dining, overseas, mainland China & Macau and with select entertainment, home & lifestyle merchants), up to 1st HK$100k spend
  • Bonus +2% cashback that can be allocated across "Rewards of Your Choice" categories above (0.4% units, can be stacked or distributed evenly)
  • Add'l bonus +2% "Red Hot" online & overseas rebate w/ HK$3k category spend/qtr (up to HK$300/qtr)
  • Potential to earn up to 5.6% overseas, 2.4% online w/ bonus stacking
Benefits & Perks
  • 1 free lounge visit per month w/ single HK$1.5k transaction (up to 12 visits/yr)
  • 30% off Parklane cross-border limousine transfer services
  • 10% off Hertz self-drive car rentals
  • Visa Signature & HSBC Year-round Offers
Promotions:
  • Receive HK$700 cashback w/ HK$/RMB8k min. spend in 1st 2mo

HSBC Visa Signature Card's Rewards Exclusions

The following credit card expenditures are ineligible for rewards.

Cash advance; fees and charges; withdrawals unders a cash or spending instalment plan; bill payments via HSBC mobile banking and/or internet banking; purchase and/or reload of stored value cards or e-Wallets (except for reload via Octopus Automatic Added Value Service); wire transfers
Betting and gambling transactions; transactions at non-financial institutions (including purchase of foreign currency, money orders and travellers cheques); transactions at financial institutions (including purchase of merchandise and services from banks); tax payments
Quasi cash transactions; unposted or posted but subsequently cancelled, reversed or refunded transactions

How does HSBC Visa Signature Compare Against Other Cards?

Read our comparisons of HSBC Visa Signature Card with other cards and learn what makes each card stand out. We compare and contrast each card to highlight its uniqueness to help find the best card for you.

Graph showing some of Hong Kong's best credit cards in terms of value-to-consumer after two years, based on an average monthly spend of HK$12,000
HSBC Visa Signature Card v. HSBC Pulse UnionPay Dual Currency Diamond Card
HSBC Pulse UnionPay Dual Currency Diamond Card offers frequent regional travellers a more accessible way to earn tailored cashback. Cardholders earn 0.4% cashback on general spend plus an extra +2% cashback which can be split across "Rewards of Your Choice" categories (local dining, overseas, spend in mainland China & Macau and with select entertainment, home and lifestyle merchants). With the additional 2% "Red Hot Online and Overseas" bonus, cardholders can potentially earn a very competitive overseas rebate of up to 4.4%.


HSBC Pulse also stands apart from other cashback cards by offering convenient UnionPay perks like separate billing for HKD & RMB spend, waived RMB & MOP foreign transaction fees (low 1% fee for other currencies) & more. Although HSBC Pulse only offers up to 3 lounge visits per year, it also has a much lower HK$150k minimum income requirement. Ultimately, HSBC Pulse UnionPay Dual Currency Diamond Card is a more accessible option that allows consumers to customise their rewards and enjoy convenient travel perks.

HSBC Visa Signature Card v. Hang Seng MPOWER Card
  • Annual Fee: Free
  • Stand-Out: Up to 5% rebate on mobile, online & overseas spend
  • Read Our Full Review
Modern consumers looking for competitive, no-fee cashback should definitely consider Hang Seng MPOWER Card. Cardholders earn a 5% Cash Dollars rebate on local dining, fashion and entertainment mobile payments (jointly capped at $100/month) and online and overseas transactions of HK$300+ (each capped at $100/month). When these boosted rewards are maxed out, consumers can earn up to an additional $6k Cash Dollars (equal to HK$6k) per year–higher than HSBC Visa Signature's maximum rebate. Although these boosted rates have a HK$3k monthly minimum spend requirement (0.4% Cash Dollars if below), this amount is quite manageable for most consumers.


Hang Seng MPOWER also has no annual fee, making it far more affordable than HSBC Visa Signature Card. While it may not offer any travel perks, Hang Seng MPOWER does allow social spenders who prioritse entertainment to enjoy priority booking for select events, waived online ticket handling fees & more. Ultimately, Hang Seng MPOWER is great for modern consumers who want to earn top, no-fee rebates on their overseas, online and social mobile spend.

HSBC Visa Signature Card v. EarnMORE UnionPay Diamond Card
  • Annual Fee: HKD 800
  • Stand-Out: 2% cashback on all spend + 3 free lounge visits
  • Read Our Full Review
EarnMORE UnionPay Diamond Card offers consumers 2% cashback on nearly every purchase–the highest flat cashback rate on the market. This is ideal for consumers who don't want to worry about tracking spend categories. Cardholders can also enjoy convenient travel perks like up to 3 free lounge visits per year, waived foreign exchange fees, discounted flat rate limousine transfers and more. With an annual fee of only HK$800, EarnMORE UnionPay Diamond Card is ultimately a more straightforward and affordable option for consumers who want high rebates on their everyday spend
HSBC Visa Signature Card v. Standard Chartered Simply Cash Visa Card
  • Annual Fee: HKD 2,000 (waiver available)
  • Stand-Out: Unltd. 1.5% rebate w/ boost for overseas
  • Read Our Full Review
Standard Chartered Simply Cash Visa Card is great for high spenders who want to earn straightforward cashback and avoid rebate caps. Cardholders earn an unlimited 1.5% cashback on all local spend, boosted to 2% overseas. Even though HSBC Visa Signature earns higher rates on spend in "Rewards of Your Choice" categories, SC Simply Cash offers uncapped cashback which is ideal for high spenders.


In terms of accessibility, SC Simply Cash has a much more reasonable HK$96k minimum income requirement and its HK$2k annual fee is waived for SC Bonus Payroll, Priority or Premium Banking customers. Altogether, while SC Simply Cash offers an accessible way to earn unlimited cashback, HSBC Visa Signature is ideal for consumers that want rewards tailored to their spending habits.

HSBC Visa Signature Card v. HSBC Pulse UP DC Diamond Card
  • Annual Fee: HKD 1,800
  • Stand-Out: Self-allocated rebates + free lounge access
HSBC Pulse UnionPay Dual Currency Diamond Card offers frequent regional travellers a more accessible way to earn tailored cashback. Cardholders earn 0.4% cashback on general spend plus an extra +2% cashback which can be split across "Rewards of Your Choice" categories (local dining, overseas, spend in mainland China & Macau and with select entertainment, home and lifestyle merchants). With the additional 2% "Red Hot Online and Overseas" bonus, cardholders can potentially earn a very competitive overseas rebate of up to 4.4%.


HSBC Pulse also stands apart from other cashback cards by offering convenient UnionPay perks like separate billing for HKD & RMB spend, waived RMB & MOP foreign transaction fees (low 1% fee for other currencies) & more. Although HSBC Pulse only offers up to 3 lounge visits per year, it also has a much lower HK$150k minimum income requirement. Ultimately, HSBC Pulse UnionPay Dual Currency Diamond Card is a more accessible option that allows consumers to customise their rewards and enjoy convenient travel perks.

HSBC Visa Signature v. Hang Seng MPOWER
  • Annual Fee: Free
  • Stand-Out: Up to 5% rebate on mobile, online & overseas spend
Modern consumers looking for competitive, no-fee cashback should definitely consider Hang Seng MPOWER Card. Cardholders earn a 5% Cash Dollars rebate on local dining, fashion and entertainment mobile payments (jointly capped at $100/month) and online and overseas transactions of HK$300+ (each capped at $100/month). When these boosted rewards are maxed out, consumers can earn up to an additional $6k Cash Dollars (equal to HK$6k) per year–higher than HSBC Visa Signature's maximum rebate. Although these boosted rates have a HK$3k monthly minimum spend requirement (0.4% Cash Dollars if below), this amount is quite manageable for most consumers.


Hang Seng MPOWER also has no annual fee, making it far more affordable than HSBC Visa Signature Card. While it may not offer any travel perks, Hang Seng MPOWER does allow social spenders who prioritse entertainment to enjoy priority booking for select events, waived online ticket handling fees & more. Ultimately, Hang Seng MPOWER is great for modern consumers who want to earn top, no-fee rebates on their overseas, online and social mobile spend.

HSBC Visa Signature Card v. EarnMORE UP Diamond Card
  • Annual Fee: HKD 800
  • Stand-Out: 2% cashback on all spend + 3 free lounge visits
EarnMORE UnionPay Diamond Card offers consumers 2% cashback on nearly every purchase–the highest flat cashback rate on the market. This is ideal for consumers who don't want to worry about tracking spend categories. Cardholders can also enjoy convenient travel perks like up to 3 free lounge visits per year, waived foreign exchange fees, discounted flat rate limousine transfers and more. With an annual fee of only HK$800, EarnMORE UnionPay Diamond Card is ultimately a more straightforward and affordable option for consumers who want high rebates on their everyday spend.
HSBC Visa Signature v. SC Simply Cash
  • Annual Fee: HKD 2,000 (waiver available
  • Stand-Out: Unltd. 1.5% rebate w/ boost for overseas
Standard Chartered Simply Cash Visa Card is great for high spenders who want to earn straightforward cashback and avoid rebate caps. Cardholders earn an unlimited 1.5% cashback on all local spend, boosted to 2% overseas. Even though HSBC Visa Signature earns higher rates on spend in "Rewards of Your Choice" categories, SC Simply Cash offers uncapped cashback which is ideal for high spenders.


In terms of accessibility, SC Simply Cash has a much more reasonable HK$96k minimum income requirement and its HK$2k annual fee is waived for SC Bonus Payroll, Priority or Premium Banking customers. Altogether, while SC Simply Cash offers an accessible way to earn unlimited cashback, HSBC Visa Signature is ideal for consumers that want rewards tailored to their spending habits.

Jacob Weiss

Jacob is a Junior Research Analyst at ValueChampion, focusing on credit cards and other consumer financial products. Previously, he covered hedge funds and long only products for Cambridge Associates. He holds a B.S. in Finance from the University of Maryland and has passed Level 1 of the CFA exam.