Summary - The HSBC Platinum MasterCard with Cash Back Rewards is a basic cash back credit card that allows you to earn a 1% cash rebate for every dollar you spend on the card. Unlike all other cash back credit cards, you can earn unlimited cash rebates. You also get a generous 0% apr on balance transfers for between 6 to 12 months. This card will appeal to those who spend a lot and want a basic cash back credit card.

Cash Back Formula - The HSBC Platinum MasterCard with Cash Back Rewards gives you a 1% rebate for every dollar you spend on the card. You can earn unlimited rebates.

Annual Fee - The HSBC Platinum MasterCard with Cash Back Rewards has no annual fee. The apr is as low as 8.99% depending on your credit worthiness. You also get a 0% introductory apr offer on your balance transfers for 12 months from the date of account opening. The introductory period will depend on your credit. You can transfer up to 3 balances. The average daily balance method (including new purchase) is used to calculate monthly balances.

Conclusion - The HSBC Platinum MasterCard with Cash Back Rewards will appeal to those looking for a basic no-frills cash rebate credit card. However, with other cards offering more than 1% rebates on certain items, this card falls short.

For example, the True Earnings® Business Card from Costco and American Express allows you to earn 5% rebates on gas at ANY regular station, 3% on restaurants and 2% on travel items. Another example would be the Capital One No Hassle Cash Rewards allows you to earn 2% rebates on gas stations and major grocery stores and 1% cash back on all other purchases. You should consider these cards instead.

Positives

• Earn unlimited rebates
• No annual fee
• 0% apr for 6 to 12 months on balance transfers
• Low apr if you qualify


Negatives

• Does not pay more than 1% on "everyday purchase" items