The HSBC Revolution Card is a no-frills credit card that lets you earn HSBC rewards points for online and contactless transactions.
Unlike cashback cards that force you to work your brain and micromanage your expenses, this HSBC credit card has no minimum spending requirement.
Sound like the HSBC Revolution Card may make a worthy companion? Let’s take a closer look.
Contents
HSBC Revolution Card Review
HSBC Revolution Annual Fee, Minimum Income
HSBC Revolution Reward Points
HSBC Revolution Reward Points Redemption
HSBC Revolution vs DBS Altitude
How to maximise my HSBC Revolution Card?
HSBC Revolution Card Promotion
Should I get the HSBC Revolution Card?
1. HSBC Revolution Card Review
HSBC Revolution is a rewards card. For the uninitiated, that means you spend money on the card, earn rewards points in exchange, and then use them to redeem gifts.
The card offers 10X rewards (equivalent to 4 miles or 2.5% cashback) when you spend on online and contactless transactions.
In addition to the rewards points, you can also get 1% cashback on your spending if you deposit at least $2,000 ($5,000 if you are an HSBC Premier or Jade customer) into an HSBC Everyday Global Account every calendar month.
Another of the card’s biggest perks is that there’s no annual fee, so you don’t have to call the bank up every year to beg for a waiver.
2. HSBC Revolution Card Terms and Conditions
The HSBC Revolution Card is an entry-level credit card. In other words, as far as credit cards goes, it’s one of the most accessible—you need an income of at least $30,000 per annum to sign up for it, which is at low as it goes.
HSBC Revolution Card
Annual Fee
–
Annual Fee Waiver
–
Supplementary Card Annual Fee
–
Interest Free Period
20 days
Annual Interest Rate
25.9%
Late Payment Fee
$55
Minimum Monthly Payment
3% or $50, whichever is higher
Foreign Currency Transaction Fee
1.8%
Cash Advance Transaction Fee
6% or $15, whichever is greater
Overlimit Fee
$40
Minimum Income
$30,000 (Singaporean/PR) / $40,000 (Singaporean/PR self-employed/commission-based and foreigner)
Card Association
Visa
Contactless Payment
Visa Contactless, Apple Pay, Samsung Pay Google Pay
3. HSBC Revolution Card Rewards Points
You earn rewards points as you spend with the HSBC Revolution Card.
Here are the earn rates:
10X rewards points on online and contactless spending
1X rewards point on other spending
Pretty straightforward right? The online spending category is a huge draw, as everything can be purchased online these days, from plane tickets to groceries.
The catch is that there’s a cap. You can only earn 10X rewards points on up to $1,000 per month. Once you bust the cap, you will only earn 1X reward point.
HSBC rewards points expire in three years. So don’t forget to redeem them before it’s too late!
4. HSBC Revolution Card Points Redemption
You can exchange your rewards points for gifts in HSBC’s Rewards Catalogue. Gifts include KitchenAid stand mixers, Fitbits, dining vouchers and hotel stays. You can also exchange your rewards points for cashback or air miles to be credited to your KrisFlyer or Asia Miles account.
The easiest way to redeem a gift with your rewards points is via online banking. Browse the HSBC Rewards Catalogue until you find a gift you want, select “Redeem Now”, log in to HSBC online banking, and redeem the quantity desired.
If you redeemed a reward voucher, HSBC will send it to you by post within 7 working days.
If you want to redeem air miles instead of gifts, you’ll have to first register for HSBC’s Mileage Programme here.
5. HSBC Revolution Card vs DBS Altitude
The DBS Altitude Card is an entry-level air miles credit card that commonly gets compared to the HSBC Revolution. So, which is better? Here are the key differences.
HSBC Revolution
DBS Altitude
Base Earn Rate
1X rewards points (0.4 miles)
1.2 miles
Bonus Earn Rate
9X rewards points (3.6 miles)
0.8 miles /
1.8 miles /
5.8 miles /
8.8 mies
Bonus Categories
Online and contactless transactions
Overseas spend /
online flights and hotels /
flight and hotels at Expedia /
hotels at Kaligo
Annual Income
$30,000
$30,000
Annual fee
–
$194.40 (waived for first year)
DBS Altitude offers a better base earn rate and its air miles never expire. However, its bonus earn rates really aren’t that attractive unless you’re making bookings at Expedia or Kaligo.
HSBC Revolution, by contrast, lets you earn bonus points more easily—almost anything can be paid for online these days, and contactless payment is very widely accepted in Singapore and many other countries. In addition, the card is free. So, if you’re looking for a fuss-free, annual fee-free way to earn points, go with HSBC Revolution.
6. How to maximise my HSBC Revolution Card?
Since the HSBC Revolution Card gives you 10X points for online transactions, you should pick the online option wherever possible. For instance, do your groceries online or use online food delivery instead of showing up physically at the supermarket or restaurant.
You should also use contactless payments as much as possible. Many merchants accept Visa PayWave and will let you tap your card, but if you want to make contactless payments second nature, you can use mobile contactless apps like Apple Pay, Samsung Pay and Google Pay.
Just remember that you can only earn 10X rewards points on up to $1,000 worth of spending each month. So there is no point in using the card once you have hit the cap.
7. HSBC Revolution Card Promotion
From now until 11 Apr 2023, sign up for the HSBC Revolution Card and choose between a welcome gift of $200 cashback or a Samsonite Prestige 69cm Spinner Exp suitcase with built-in scale worth $670.
You’ll need to hit a minimum spend of $500 within a month to redeem these gifts.
8. Should I get the HSBC Revolution Card?
The HSBC Revolution Card is a fuss-free entry-level card that lets you earn points at a decent rate on your everyday spending. Shift as much of your spending as you can to online or contactless channels and you’ll really be able to rack up points.
The card charges no annual fee, which means it’s suitable for anyone regardless of how much or how little you spend.
Whether you’re using it as your main credit card or just keeping it on hand for spending you have no other card for, the HSBC Revolution is convenient to have in your wallet.
Alternatives to the HSBC Revolution Card
Here are some alternative rewards cards aimed at entry level earners.
Citi Rewards Card – You earn a very attractive 10X rewards (4 miles per dollar) when you shop for shoes, bags and clothes, both online and offline. Get 10X rewards too for practical reasons too, like buying groceries online and spending on rides with Grab and Gojek.
DBS Woman’s Card – This one offers 5X DBS points (10 miles per dollar) for every $5 spent online and overseas, but expenditure is capped at $1,000 a month, which is easily burst if, say, you use it for travel bookings.
UOB Preferred Platinum Card – Get up to 10 UNI$ for every $5 spent on online shopping and entertainment, and mobile contactless payment. Total UNI$ awarded is capped at $2,000 per month.
Remember, reward points are only as useful as the rewards you can redeem them for. So make sure you “shop” around each bank’s rewards catalogue before deciding on which credit card to get. It’s not as simple as just comparing the earn rates, since the banks’ points are different “currencies” when it comes to redeeming rewards.
The only thing that you can compare apple to apple is air miles. If you’re serious about chasing air miles, the 10X rewards cards will definitely get you there faster.
If you’re just starting to manage your finances, you don’t want to be overwhelmed with too many terms & conditions. The HSBC Revolution Card has a big win in this respect as one the most fuss-free cards out there, thanks to its huge range of bonus rewards categories and $0 monthly minimum spend.
Which is your go-to rewards credit card? Share your recommendations in the comments!
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