Top of main content

Rewards vs cashback

Woman in her car, showing her credit card; Image for 'Cashback credit card' article

Are you looking for a credit card that suits your personality and  lifestyle? Do you know which one you would prefer more - rewards or cashback?

Many credit cards offer a bonus points system for every card purchase that you make, where you can convert them to special items or freebies. Other credit cards don’t have a rewards program but instead they return a certain percentage of the amount of what you bought with your credit card.

We’ve listed down the benefits of rewards credit card and cashback credit card. Go though each of them and pick the one that matches your lifestyle.  All you have to do next is to apply for one of them, or both if you want to.

HSBC Gold Visa Cashback Credit card

Don’t have a card yet?

Apply online today & earn cashback from your spend with a new HSBC Gold Visa Cash Back Credit Card.
Already an HSBC credit cardholder? Discover latest credit card articles here.

Benefits of rewards credit card vs cashback credit card

Rewards credit card 

 

HSBC Red Mastercard

Cashback/ rebate credit card

 

HSBC Gold Visa or HSBC Platinum Visa
  • Lets you earn bonus points for every 'x' amount of credit card transaction. For example, the HSBC Red Mastercard allows you to earn 1 bonus point for every PHP20 spent on your credit card.
  • Instantly gives you back a percentage of the amount you spent using your cashback/ rebate card.
  • Certain spend categories could double or triple your points. The HSBC Red Mastercard can accelerate your bonus points 3X or 4X faster at shopping and overseas spend. This means that with every PHP20 spend, you will earn 3 or 4 bonus points instead of just 1 bonus point.
  • Some cards give higher cashback on certain spend categories. For example, the HSBC Gold Visa gives you 5% cashback on dining/ restaurant spend, while the HSBC Platinum Visa gives you 5% rebate on shopping and travel spend. The rest of your qualified transactions will earn 0.05% or 1% cashback.
  • You can accumulate your points over months or even years. Once you’re ready to use your points, you can convert them to redeem gift certificates, e-wallets, gadgets, and even air miles.
  • Very straightforward and practical. There’s no extra step to redeem your earned cashback/ rebates.
  • Let’s you give back to the environment or to charity by allowing you to make a donation through your bonus points.
  • All earned cashback/ rebates automatically reduces your monthly due amount that you owe the bank. 

Benefits of rewards credit card vs cashback credit card

Rewards credit card 

 

HSBC Red Mastercard
  • Lets you earn bonus points for every 'x' amount of credit card transaction. For example, the HSBC Red Mastercard allows you to earn 1 bonus point for every PHP20 spent on your credit card.
  • Lets you earn bonus points for every 'x' amount of credit card transaction. For example, the HSBC Red Mastercard allows you to earn 1 bonus point for every PHP20 spent on your credit card.

Cashback/ rebate credit card

 

HSBC Gold Visa or HSBC Platinum Visa
  • Instantly gives you back a percentage of the amount you spent using your cashback/ rebate card.
  • Instantly gives you back a percentage of the amount you spent using your cashback/ rebate card.

Rewards credit card 

 

HSBC Red Mastercard
  • Certain spend categories could double or triple your points. The HSBC Red Mastercard can accelerate your bonus points 3X or 4X faster at shopping and overseas spend. This means that with every PHP20 spend, you will earn 3 or 4 bonus points instead of just 1 bonus point.
  • Certain spend categories could double or triple your points. The HSBC Red Mastercard can accelerate your bonus points 3X or 4X faster at shopping and overseas spend. This means that with every PHP20 spend, you will earn 3 or 4 bonus points instead of just 1 bonus point.

Cashback/ rebate credit card

 

HSBC Gold Visa or HSBC Platinum Visa
  • Some cards give higher cashback on certain spend categories. For example, the HSBC Gold Visa gives you 5% cashback on dining/ restaurant spend, while the HSBC Platinum Visa gives you 5% rebate on shopping and travel spend. The rest of your qualified transactions will earn 0.05% or 1% cashback.
  • Some cards give higher cashback on certain spend categories. For example, the HSBC Gold Visa gives you 5% cashback on dining/ restaurant spend, while the HSBC Platinum Visa gives you 5% rebate on shopping and travel spend. The rest of your qualified transactions will earn 0.05% or 1% cashback.

Rewards credit card 

 

HSBC Red Mastercard
  • You can accumulate your points over months or even years. Once you’re ready to use your points, you can convert them to redeem gift certificates, e-wallets, gadgets, and even air miles.
  • You can accumulate your points over months or even years. Once you’re ready to use your points, you can convert them to redeem gift certificates, e-wallets, gadgets, and even air miles.

Cashback/ rebate credit card

 

HSBC Gold Visa or HSBC Platinum Visa
  • Very straightforward and practical. There’s no extra step to redeem your earned cashback/ rebates.
  • Very straightforward and practical. There’s no extra step to redeem your earned cashback/ rebates.

Rewards credit card 

 

HSBC Red Mastercard
  • Let’s you give back to the environment or to charity by allowing you to make a donation through your bonus points.
  • Let’s you give back to the environment or to charity by allowing you to make a donation through your bonus points.

Cashback/ rebate credit card

 

HSBC Gold Visa or HSBC Platinum Visa
  • All earned cashback/ rebates automatically reduces your monthly due amount that you owe the bank. 
  • All earned cashback/ rebates automatically reduces your monthly due amount that you owe the bank. 

We hope this comparison between rewards and cashback will help you decide on which card is perfect for you. To kick start your decision-making journey, we have ongoing promos on credit cards when you apply for one today. Here's also a list of credit cards we have in store for you.

Apply now

Explore our range of HSBC Philippines credit cards and apply for a credit card online.

Eligibility for an HSBC Credit Card:

• An existing locally-issued primary credit card owned for at least 12 months

• A minimum annual income of PHP200,000 for HSBC Red Mastercard and Gold VISA cashback

• A minimum annual income of PHP500,000 for HSBC Platinum Visa

You can also drop by at any HSBC branch near you to apply.

Back to top 
What's next?

You might also be interested in