HSBC MasterCard Canada

HSBC MasterCard Canada is issued by HSBC Canada, the Canadian subsidiary of HSBC Holdings plc. In Canada, it operates through a wide network of more than 180 branches. The name ‘HSBC’ is an acronym of The Hongkong and Shanghai Banking Corporation.

HSBC MasterCard Canada: Common Features

The features of HSBC MasterCard Canada include:

No annual fee

Cash advances and purchases are subject to an annual interest rate of 19.9%.

Grace period of 21 days.

Optional low interest rate of 12.9% for an annual fee of $25.

Grace period of 23 days is applicable to the low interest rate plan.

Over limit fee of $29.

A penalty of $25 is charged for checks and other payment items that are dishonored.

Cash advances via ABMs located in Canada entail a transaction fee of $2, while those located outside Canada charge $4 per transaction.

HSBC MasterCard Canada: Benefits

A holder of the HSBC MasterCard Canada is entitled to the following benefits:

• Global acceptance at over 23 million retail outlets.
• Worldwide instant cash access at over 900,000 ABMs.
• Instant card and cash replacement in emergencies.
• Extended warranty insurance.
• 24-hour roadside assistance.

HSBC MasterCard Canada: Reward Scheme

Cardholders can choose from two reward options:

• HSBC Cash Back Rewards: This reward program facilitates cash back rebates on card-based purchases. One can apply for the program for an additional annual fee of $35.
• HSBC Travel & Merchandise Reward Program: Under this reward scheme, cardholders can redeem their HSBC Rewards Points against an exclusive collection of premium merchandise, travel and lifestyle rewards. Cardholders get a bonus of 1,000 reward points at the onset of this program.

Interest rate restrictions of HSBC MasterCard Canada

The applicable interest rates can increase by 5% per year if the cardholder does not make two consecutive minimum payments or three minimum payments for a period of 12 months. Furthermore, Canadian residents residing in the province of Quebec cannot opt for the low interest rate option.

How to apply for HSBC MasterCard Canada

Canadian residents who have attained the age of majority can apply at the official site of HSBC Canada or apply in person at the nearest HSBC Canada branch.

‘HSBC MasterCard Canada” is the trademark of HSBC Holdings plc., who can be found at www.hsbc.ca.

‘MasterCard’ is the trademark of MasterCard Worldwide, who can be found at www.mastercard.com.

Find out more about HSBC Canada Mastercard.

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