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HSBC Red Credit Card: the HSBC card you can actually understand

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  1. #1

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    HSBC Red Credit Card: the HSBC card you can actually understand

    Ok so my RM called me a few days ago, suggesting to switch me out of my existing Advance and VisaSignature cards for this new HSBC Red Credit Card. I looked at the details, and it seems quite simple, no more "triple-quadruple-RewardCash bullshit" impossible to figure out: the 4% rebate on online and 2% rebate on supermarkets transactions look cool, the 1% for the rest a little less so.

    I feel it won't work for people who optimise the hell out of their credit cards and don't mind one for each type of expense. May work better for people who like me can tolerate to have one credit card only in their wallet.

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    https://www.hsbc.com.hk/credit-cards/products/red/

    shri, traineeinvestor, emx and 6 others like this.

  2. #2

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    Great choice for online spend.


  3. #3

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    I have this card too.

    I'm thinking there are ways to game the system to convert something that would be retail (1%) to online (4%). Say you order online and pickup in store?


  4. #4

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    Yes I agree, I'm also wondering if ordering online from PnS gives 4% in RewardCash. I will try.


  5. #5
    bdw
    bdw is offline

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    It looks great for online purchases (4% back). Also supermarket purchases 2% back is quite good, although Citibank Reward card has offered this already for quite some time and not only supermarkets but Telecom bills as well. The 1% back on everything else is not so good and you would be better off using something like the Standard Chartered Simply Cash and get 1.5% back on everything.

    This red card is probably good if you are going to have 3 or 4 cards in your wallet to use for different purposes. Use this one for online spending (4% cash back), use the HSBC Visa signature for overseas spending (3.6%-5.6% cash back on overseas spending with all the rewards put in this basket), use the Citibank Cash Back card for all restaurant and hotels (2% cash back), use the Standard Chartered Simply Cash for everything else (1.5% cash back).

    Sorry there is not one magical "best" credit card in Hong Kong. You need to have 3 or 4 in order to optimise your rewards.


  6. #6

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    @bdw thanks for your response, I was looking forward to it.
    Yes, I agree with all you're saying especially the "optimisation" bit.


  7. #7

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    What is considered the best credit card for overseas spending?


  8. #8

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    Quote Originally Posted by bdw
    This red card is probably good if you are going to have 3 or 4 cards in your wallet to use for different purposes.
    If it's for online use only no need to carry the card in your wallet, just remember the number.

    I'm going to get one. Thanks @jrkob!

  9. #9

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    If you're going to use an HSBC card then might as well download their rewards app. You can register your card for an extra 5% rewards during the winter.


  10. #10

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    Quote Originally Posted by greenmark
    If you're going to use an HSBC card then might as well download their rewards app. You can register your card for an extra 5% rewards during the winter.
    I have this app (to double confirm full name is Reward+ ?) but I can't see any reference to this extra 5%. You got a link for this ?

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