HSBC Bank facilitates credit cards for all public in the Philippines.
HSBC Bank in the Philippines has been one of the pioneers in credit card liberation. Outperforming its competitors such as Citi and AUB credit cards. With that, we will give you all the guidelines about this credit card and how to get yours in the fastest way.
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The HSBC Red Mastercard lets you earn 1 bonus point for every ₱20 you spend. With HSBC Accelerated Rewards, it offers up to 4x bonus points on your local and overseas shopping, dining, and online transactions at participating merchants and establishments. In short, domestic and foreign currency transactions can earn you more points.
So what do you get for a seemingly affordable credit card? Two words: accelerated rewards. For every PHP 20 spend on qualified spend categories, you earn 4 bonus points.
What are these qualified spend categories, you ask? They just happen to be the four that matter: dining, shopping, overseas, and online purchases. That’s quadruple the points compared to other credit cards.
HSBC Red Mastercard
Get 4x bonus points on local shopping, dining, and overseas transactions.
With HSBC Accelerated Rewards, it offers up to 4x bonus points on your local and overseas shopping, dining, and online transactions at participating merchants and establishments. In short, domestic and foreign currency transactions can earn you more points.
According to the terms and conditions, with your monthly accumulated purchases of ₱40,000 across pre-defined merchant categories, you earn the accelerated 4x bonus points. If you exceed the maximum accumulated spend, you still earn a regular 1 bonus point.
Aside from earning points, you also enjoy a 6% Caltex fuel rebate on your first purchase. There’s also a 3% rebate all year round at participating Caltex stations nationwide. This is one of the few credit cards in the Philippines that offers rewards and rebates. You have a rebate cap of ₱20,000 per calendar month.
Earn enough points and convert them to special items, gift certificates, vouchers, and even air miles. The HSBC Red Mastercard has an exclusive rewards catalog[1] where you can browse the exact reward you want to redeem.
You can even use your points to donate to charities like the World Wide Fund and Childhope Asia Philippines. Give it a peek to see what your future rewards will be.
HSBC also offers welcome gift promos for new credit cardholders. If you apply from now until December 31, 2022, you will receive a waived annual fee for life upon meeting the required annual accumulated spend of ₱100,000.
Requirements to have an HSBC card
To be a principal cardholder, you have to be 21 years of age and above with a minimum monthly income of ₱16,667 and be a principal cardholder for another local bank for at least 12 months with minimum credit limit of ₱20,000.
Applicant should not have an existing HSBC credit card nor have a pending or existing application with HSBC for the past 6 months. To apply for a supplementary card, he/she should be at least 15 years of age.
HSBC Red Mastercard is ideal for spenders who love to earn rewards points and at the same time want to take advantage of the fuel rebates. Rarely you find a credit card that offers both worlds, and if you regularly shop online locally and overseas, this card is worth it.
What’s more, with your accumulated points, you can convert them to airmiles.
Some things will help you get approval faster. With that in mind, we have put together a short step-by-step guide with important information about the review process for clearing your credit card. Let’s take a look?
First, you should pay attention when filling out the form and entering your personal data. Thus, it is very important that you correctly enter your first and last name without abbreviations.
Another important piece of information is your documents. So check all the data so that you do not enter any incorrect information.
Finally, do not lie about any of your personal information, the bank knows all the information and entering incorrect data will hurt you in the process of releasing your credit card.
