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Rewards vs cashback

Are you looking for a credit card that suits your personality and lifestyle? Do you know what you'd prefer – rewards, cashback, or a credit card rebate?

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 programme but instead they will return a certain percentage of the amount of what you've bought with your credit card. This is called cashback or a credit card rebate.

We’ve listed down the benefits of rewards credit card and cashback credit card. You can go through each of the cards and pick the one that matches your lifestyle and needs. All you need to do next is apply for one, or both, if you want to.

HSBC Live+ Credit Card

Don’t have a card yet?

Get up to 8% cashback on dining, and 5% cashback on shopping and entertainment with an HSBC Live+ 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 Live+ 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.
  • Get a credit card rebate, which is a percentage of the amount you spent using your cashback or 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 credit card rebates for certain spending categories. For example, the HSBC Live+ Credit Card gives you up to 8% on dining transactions. You'll also get 5% on shopping and entertainment spend and 0.20% on all other transactions.
  • 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.
  • Straightforward and practical as there's no extra steps to redeem your earned cashback or credit card rebates.
  • Lets you give back to the environment or to charity by donating with your bonus points.
  • All your earned cashback or credit card rebates automatically reduce the monthly 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 Live+ Credit Card
  • Get a credit card rebate, which is a percentage of the amount you spent using your cashback or rebate card.
  • Get a credit card rebate, which is a percentage of the amount you spent using your cashback or 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 Live+ Credit Card
  • Some cards give higher credit card rebates for certain spending categories. For example, the HSBC Live+ Credit Card gives you up to 8% on dining transactions. You'll also get 5% on shopping and entertainment spend and 0.20% on all other transactions.
  • Some cards give higher credit card rebates for certain spending categories. For example, the HSBC Live+ Credit Card gives you up to 8% on dining transactions. You'll also get 5% on shopping and entertainment spend and 0.20% on all other transactions.

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 Live+ Credit Card
  • Straightforward and practical as there's no extra steps to redeem your earned cashback or credit card rebates.
  • Straightforward and practical as there's no extra steps to redeem your earned cashback or credit card rebates.

Rewards credit card 

 

HSBC Red Mastercard
  • Lets you give back to the environment or to charity by donating with your bonus points.
  • Lets you give back to the environment or to charity by donating with your bonus points.

Cashback/ rebate credit card

 

HSBC Live+ Credit Card
  • All your earned cashback or credit card rebates automatically reduce the monthly amount that you owe the bank.
  • All your earned cashback or credit card rebates automatically reduce the monthly amount that you owe the bank.

We hope this comparison between rewards, cashback, and credit card rebates will help you find the perfect card. To kickstart your decision-making journey, we have ongoing promotions when you apply for our credit cards.

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
  • A minimum annual income of PHP200,000 for HSBC Live+ Credit Card

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

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