Best HSBC Credit Cards 2017

When looking for a credit card, you must first consider your financial situation and spending tendencies. Do you spend mostly on groceries and dining? Are you a frequent traveler? Because rewards and benefits don’t seem so comparable, the sheer number of options available in the market can be downright overwhelming. We believe that your credit card should match your unique needs because your circumstances are different from others. To help you navigate through this complex world, our team has reviewed over 100 credit cards in Singapore and handpicked a few that stand out. Here, we have pulled a few cards from HSBC that have excellent value propositions and explain why they might be some of the best cards in Singapore for certain people.

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Our Picks For the Best of HSBC Cards in 2017

Our team at ValuePenguin does our best to evaluate which cards bring the highest value to consumers in an objective fashion. Since each card has its own unique set of strengths and weaknesses, not every card will be perfect for everyone. We have reviewed each card from HSBC in detail below. Read to learn what makes them special and if they could be an ideal choice for what you need.

HSBC Revolution Card: Best No-Fee Air Miles Rewards Credit Card

HSBC Revolution Card is a superb air miles credit card that focuses on some of the highest expenditure areas of an average consumer: dining, entertainment and online shopping. Typically, an average consumer in Singpoare about a third of their monthly budget on dining, entertainment and shopping. While its flat rate award is relatively weak at 0.4 miles per S$1 spent, HSBC Advance card grants 2 miles for every dollar spent on these three categories. It also offers a 16% discount on petrol at Caltex and Shell stations.

HSBC Revolution is also a very cheap card to use: its annual fee of S$160.5 is waived for the first 2 years, and subsequently waived for those who maintain an annual expenditure of just S$12,500 on the card. Net of the cost, this card should generate about S$2,000 of savings over a 2-year period according to our calculation. We think HSBC Revolution could be an excellent choice for young people who might be more conscious about paying annual fees but have an active shopping habit or social life.

Pros of HSBC Revolution Card

  • Annual fee of S$160.5 is waived for 2 years, and then waived in subsequent years for those who spend S$12,500 per year (S$1,042 per month)
  • 2 miles on online spend (shopping and travel bookings), dining, and entertainment
  • 16% off on petrol at Caltex & Shell
  • Up to 10% off on travel bookings online
  • Promotion: Up to S$160 of cash back welcome bonus or American Tourister Caravan 70cm TSA luggage + up to S$40 of cash rebate for new customers (up to S$90 for existing customers)

Cons of HSBC Revolution Card

  • Very low flat award rate of 0.4 miles per S$1 spend on everything outside of online, dining and entertainment
  • Not many other perks to speak of (i.e. lounge access, airport limousine service, etc.)

HSBC Visa Platinum Credit Card: Best Cashback Card for Singapore Power and Utility Bills

HSBC Visa Platinum Credit Card is a well-rounded, every day credit card affordable for anyone with a moderate budget. Not only does it provide 5% cashback on groceries and utilities, it also can double up as a travel card because it offers an additional 0.4 miles for every S$1 you spend on the card. The cashback + mile offer is quite unique in Singapore, and sets this card apart from the crowd. Its annual fee also comes with an easy waiver as long as you spend S$12,500 annually (about S$1,000 a month) on the card.

Pros of HSBC Visa Platinum Credit Card

  • 5% cashback on grocery
  • 5% cashback on utilities like cable, internet and mobile bills
  • Up to 21% off on petrol at Shell and Caltex
  • 0.4 miles for every S$1 you spend
  • Promotion: Up to S$160 of cash back welcome bonus or American Tourister Caravan 70cm TSA luggage + up to S$40 of cash rebate for new customers (up to S$90 for existing customers)

Cons of HSBC Visa Platinum Credit Card

  • Only 2% cashback on dining
  • S$800 monthly spend requirement to enjoy full benefit
  • S$120 cap on quarterly cashback (S$40 a month)

HSBC Advance Credit Card: Best No Fee Cashback Card

HSBC Advance Visa credit Card is one of the best no-fee cashback credit cards, but only for HSBC Advance Banking customers. For HSBC Advance customers, it perpetually waives its S$192.6 of annual fee and provides cash rebate at a rate of 3.5%. Given the high cashback rate and has a very high cap on total rebate of S$125 per month, this card can earn the most amount of rebate for high spenders, at zero cost to the user. However, this card is not as effective for people who cannot qualify for the Advance status, as its cash rebate can drop to 1.5%.

Pros of HSBC Advance Visa Credit Card

  • No annual fee for Advance Customers
  • 3.5% of cash rebate (2.5% for monthly spendings over S$2,000 + Extra 1%) for HSBC Advance Customers
  • S$125 cap on monthly rebate for Advance customers
  • Up to 16% Discount on petrol at Shell and Caltex
  • 7% discount on travel bookings on Agoda
  • Promotion: Up to S$160 of cash back welcome bonus or American Tourister Caravan 70cm TSA luggage + up to S$40 of cash rebate for new customers (up to S$90 for existing customers)

Cons of HSBC Advance Visa Credit Card

  • S$192.6 of annual fee for non-Advance customers
  • 1.5% of flat rate cash rebate for monthly spendings under S$2,000 (non-Advance customers)
  • S$70 cap on monthly rebate for non-Advance customers

Summary of Best HSBC Credit Cards

In case you want a quick look at our picks, here are ValuePenguin's best HSBC credit cards.

Best HSBC CardsSummaryAnnual Fee
HSBC Revolution CardBest No Annual Fee Miles CardS$160.5
HSBC Visa Platinum Credit CardMiles + CashbackS$180.0
HSBC Advance Visa Platnium CardUnlimited 3.5% Cash RebateS$0.0

Similar cards from other banks to consider

To aid your card selection process, we have compiled and compare & contrast analysis of each card from HSBC against its peers. Below, we demonstrate how much money one can earn or save by using a certain card over a 2-year period. By adding up the cashback, mile awards and promotions that you can earn with each card, we can give you an idea of which HSBC credit card is the best for your circumstances. Do note, however, that your choice depends heavily on your individual spending habits and reward preferences, so you should make sure to read our credit card reviews that we've prepared.

A graph displaying how best HSBC credit cards compare to other cards in Singapore in terms of their rewards
Comparing Dollar Value of Best HSBC Cards with Similar Cards from Other Banks

HSBC Advance vs Citi PremierMiles Card

Compared to HSBC Advance card, Citi PremierMiles Card caters to people with more well-rounded budgets. Its annual fee of S$192.6 well justified: it offers 1.2 miles for S$1 spent locally, 2 miles for S$1 spent overseas and 14% off on petrol at Shell & Esso stations. Not only that, Citi PremierMiles gives you a bonus mile of up to 30,000 miles when you apply and spend S$10,000 within the first 3 months. Therefore, we highly recommend getting a Citi PremierMiles Card to those who can afford the annual fee and whose budget includes more categories like groceries, petrol, dining and shopping, just to name a few.

HSBC Advance vs Amex KrisFlyer

American Express Singapore Airlines KrisFlyer Card is a great option for people who are unfamiliar with how miles cards work. Amex KrisFlyer card is very easy and convenient to use because it deposits KrisFlyer miles directly into your KrisFlyer account. Hence, it reduces the complexity of converting your miles and paying additional fees. Its award program is decent, with 1.1 mile for S$1 of local spend and 2 miles for spend your online travel bookings on Singapore Airlines and Silk Air.

HSBC Advance vs Maybank Horizon Visa Signature Card

Maybank Horizon Visa Signature Card is another great travel card for people who want to avoid paying high annual fees: Its annual fee of S$180 is waived for anyone who spends S$18,000 on the card per year (S$1,500 per month). Not only that, Maybank Horizon card offers 3.2 miles on your travel, petrol and dining expenses. While HSBC Advance is superior in its dining & entertainment rewards, Maybank Horizon is still superior in terms overseas spend award (2 miles vs 0.4 miles from HSBC Advance) and foreign transaction fee (1% vs 2.5% from HSBC Advance). Compared to HSBC Advance card, Maybank Horizon may make more sense for people who spend a considerable amount of time and money outside overseas.

HSBC Visa Platinum vs OCBC 365 Card

OCBC 365 is one of top cashback cards in Singapore that is perfect for daily use. While HSBC Visa Platinum offers better rates on recurring monthly bills, OCBC 365 offers better rates on dining (6%) and online shopping (3%). While it doesn't award miles like HSBC Visa Platinum, OCBC 365 is more comprehensive in benefits and is even "cheaper" than HSBC Visa Platinum because it waivers the annual fee for only S$10,000 of annual spend.

HSBC Visa Platinum vs POSB Everyday Card

In our opinion, POSB Everyday card is one of the best cashback cards in Singapore. While its grocery cashback of 5% lags behind its peers like Citi Cashback, POSB Everyday compensates with its wide scope of rebate categories covering petrol (20.1%), groceries (5%), EZ-Link (2%), cosmetics & pharmacy at Watson's (3%), utility bills (1%) and overseas expenditure (5%). Best of all, POSB Everyday does not limit the amount of dollars you can save in a given period, so you can earn hundreds if not thousands of dollars in cashback every year. Practically, HSBC Visa Platinum wins against POSB Everyday only in the utility bill category. The downside, so to speak, is that POSB Everyday does not waive its S$128.4 of annual fee. If you can comfortably stomach such fee, we think POSB Everyday Card could be a great choice.

HSBC Visa Platinum vs UOB Delight

UOB Delight is our best grocery rewards card. As long as you don’t mind purchasing house brands at Cold Storage, Giant and Guardian, UOB Delight can help you save up to 18% on your grocery expenditure. Even without purchasing house brands, UOB Delight will save you 8% on groceries. Other features aren't as great as other cards, but it's still decent. For instance, its annual fee is extremely low at S$85.6, and it offers a 2% rebate on monthly utility bills. Therefore, if you cook a lot at home and don't have many phone bills to take care of, UOB Delight could be a better choice for you.

*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

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