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HSBC Revolution Credit Card Review: For Low Spenders Who Want Flexible Rewards

Alevin Chan

Alevin Chan

Last updated 16 March, 2023

Earn up to 10,000 bonus points (or 4,000 miles) every month and redeem, air miles, cashback, vouchers and products.

Love earning bonus rewards points but can’t seem to find anything worth redeeming your points for? Well, with the HSBC Revolution Credit Card, this won’t likely be a problem.

That’s because you’ll have plenty of choice in where to put your points. Choose from everyday treats like Starbucks vouchers or popular lifestyle products from Dyson and other leading brands. Redeem air miles at the dizzying rate of up to 4 miles per S$1 spend (4 mpd), or simply use them to offset your bills with 2.5% cashback

Intrigued? Here’s a closer look at the HSBC Revolution credit card.


Looking for the best credit cards to complement your spending patterns and expenditure in 2023? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.


HSBC Credit Card Welcome Gift: Receive a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670) or S$200 cash back when you make a min. spend of S$500 by the end of the following calendar month from the card account opening date. Valid till 30 April 2023. T&Cs apply.

 


What the HSBC Revolution Credit Card can do for you

HSBC_sRevolutionCreditCard-1024x647

HSBC Revolution Credit Card product summary:

  • 10X Rewards Points / 4 mpd for online payments (including food deliveries, groceries, online shopping and travel)
  • 10X Rewards Points / 4 mpd for mobile contactless payments through Visa PayWave, Apple Pay and Google Pay
  • 1X Rewards Points / 0.4 mpd for all other spending
  • Virtual card for payment using your mobile phone or compatible wearables
  • No annual credit card fee ever
  • Effective Interest Rate: 26.9% per annum
  • Minimum income requirement: S$30,000 per year for Singaporeans/PRs, S$40,000 for self-employed, PR or foreigners
  • Minimum age: 21
  • Late payment fee: S$55 
  • Overlimit fee: S$40
  • Foreign currency fee: 2.25%
  • Dynamic currency conversion (DCC) fee: 1%
Pros Cons
10X Rewards Points for online and mobile contactless payments, equivalent to 4 miles per dollar or 2.5% cashback 10X Rewards Points do not apply to AXS and ATM transactions, top-ups to e-wallets and stored value cards, payments to insurance, educational institutions and payments, among others 
No annual credit card fee Bonus rate of 10X Rewards Points awarded on first S$1,000 spend per month only (1X Rewards Points rate awarded thereafter)
Virtual card available for mobile payments Rewards Points expire after 36 months 
Up to S$200 cashback in sign-up rewards or Samsonite Prestige 69cm Spinner Exp luggage (worth S$670)  
S$300,000 travel insurance cover for cardholder and family members  

Why should you choose the HSBC Revolution credit card?

HSBC Revolution

#1: Great way for low spenders to generate air miles

The HSBC Revolution credit card gives you 10x points per dollar spent, which is equivalent to 4 air miles per dollar. However, you can only earn 10x points on the first S$1,000 you spend each month (anything after only awards 1x point per dollar).

In other words, if you spend S$1,000 per month, you can earn 4,000 air miles each time. In contrast, with an air miles card that awards, say, 1.2 miles per dollar, you’ll need to spend over S$3,300 to earn 4,000 air miles. 

Hence, if your monthly credit card spend doesn’t usually exceed S$1,000, yet you’re looking to collect air miles for the glorious day when we can travel again, the HBC Revolution credit card is the better way to do it. 

Just remember to redeem your points for air miles before they expire in 36 months, and you’re golden.


#2: Easy and convenient way to earn reward points

The HSBC Revolution credit card has a generous selection of qualifying transactions, making it easy and convenient to earn reward points.

Basically, transactions that are conducted over the Internet or via contactless payments are eligible for 10x points per dollar spent. If you think about it, this practically covers most, if not all, financial transactions in our daily lives. 

Whether you’re ordering dinner on your favourite food delivery app, shopping online, or having a post-lunch bubble tea, just pay online or contactlessly – with Visa PayWave, Apple Pay or Google Pay – and watch those points roll in. 

You can even opt to use the virtual card to pay through your mobile phone or Apple Watch (and compatible wearables), so you don’t even need to have your card with you to earn your rewards.


#3: Multiple ways to use rewards points

There are three ways you can put your rewards points to work for you.

The first is to convert them into air miles, which you can redeem for free flights, upgrades and such. You can do so at a rate as high as 4 miles per dollar (see #1.)

Another way to derive value from your credit card spends is via HSBC’s Pay With Points programme. This allows you to use your rewards points to offset your bill, starting with 4,000 points for S$10, and 400 points for S$1 thereafter. This is equivalent to a cashback rate of 2.5%.

And the third option to use your rewards points is simply to redeem them for lifestyle rewards, including products, gadgets and vouchers - available on the HSBC Rewards Redemption page


#4: Complimentary travel insurance for cardmembers and family members

If you’re booking a trip with the HSBC Revolution credit card, you and your immediate family members will be entitled to complimentary travel insurance worth S$300,000. 

This cover is automatically extended as long as you charge the full cost of the travel tickets for all eligible parties to your credit card. 

The plan offers benefits for both personal accidents as well as flight inconvenience.


For whom is the HSBC Revolution Credit Card best suited?

In a nutshell, the HSBC Revolution credit card is best suited to low, consistent spenders who want flexibility in their credit card rewards or earn up to 4 miles per dollar spend – generally one of the highest miles earn rates on the market.

💡 For comparison, the DBS Altitude Visa Card and Citi PremiereMiles Card only earns 1.2 mpd on local spend and 2 mpd on foreign spend. Other credit cards yielding 4 mpd include DBS Woman's World Card and Citi Rewards Card. 

If you’re regularly spending around S$1,000 per month in online and contactless transactions, you’ll be well placed to gain optimal rewards with this card in your collection.


What promotions are there for the HSBC Revolution Credit Card?

HSBC Credit Card Welcome Gift: Receive a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth S$670) or S$200 cash back when you make a min. spend of S$500 by the end of the following calendar month from the card account opening date. Valid till 30 April 2023. T&Cs apply.

 



What charges or fees should you look out for?

  • Effective Interest Rate: 25.9% per annum
  • Late payment fee: S$55 per statement 
  • Minimum monthly payment: 3% of outstanding balance, or S$50, whichever is greater
  • Overlimit fee: S$40
  • Cash advance fee: 6% of amount withdrawn, or S$15, whichever is greater
  • Cash advance interest rate: 28% per annum

Eligibility criteria

  • Minimum income requirement: S$30,000 per year for Singaporeans/PRs, S$40,000 for self-employed, PR or foreigners
  • Minimum age: 21

How to apply?

Click on the ‘Apply Now’ button on this page and complete the application form on the SingSaver site. You will need to prepare the following documents for the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • Salaried employees: Past 12 months CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment and latest original computerised payslip
  • Self-employed: Latest Income Tax Notice of Assessment and latest original computerised payslip

Best Miles Credit Cards

Credit Card Best for/Benefits Details Min. Annual Income Promotion/Sign-up Bonus
Citi PremierMiles Card
CITI-PremierMiles-Visa_2019

 

- S$1 = 10 miles on Bookings at Kaligo

- S$1 = 7 miles on Hotel Books at Agoda

- S$1 = 2 miles on Overseas Spend
 
- S$1 = 1.2 miles on Local Spend
 
- 2 free airport lounge visits per year with Priority Pass

- Complimentary Travel Insurance
- Miles awarded as Citi Miles, which never expire

- S$27 per redemption

- Annual fee: S$194.40 (First year free)
 - Local/PR: S$30,000

- Foreigner: S$42,000
Apply and spend S$500 within 30 days to get a Dyson V8 Absolute™ (worth S$609) OR a Sony WH-1000XM5 (worth S$575) OR a Flujo Ayla Ergonomic Office Chair (worth S$1,139) S$300 cash.

Valid till 2 April 2023. T&Cs apply
DBS Altitude Card
DBSAltitudeVisaSignatureCard-e1568109609752


 

- S$1 = 10 miles on Hotel Transactions at Kaligo

- S$1 = 6 miles on Flight & Hotel Transactions at Expedia

- S$1 = 3 miles on Online Flight & Hotel Transactions (capped at S$5,000 per month)

- S$1 = 2 miles on Overseas Spend
 
- S$1 = 1.2 miles on Local Spend
 
- 2 free airport lounge visits per year with Priority Pass
- Miles awarded as DBS Points, which never expire

- S$27 per redemption

- Annual fee: S$194.40 (First year free)



- Local/PR: S$30,000

- Foreigner: S$45,000
Apply with promo code 150CASH and spend S$800 within 60 days to get S$150 cashback.

Valid till 30 June 2023. T&Cs apply.
American Express Singapore Airlines KrisFlyer Credit Card
Amex_KrisFlyer Credit Card

 

- S$1 = 3.1 miles on Grab Transactions (capped at S$200 per month)

- S$1 = 2 miles on Singapore Airlines and KrisShop transactions (no cap)

- S$1 = 2 miles on Overseas Spend in June and December (no cap)

- S$1 = 1.1 miles on Local Spend (no cap)
- Receive 5,000 KrisFlyer miles on your first spend

- Annual fee: S$178.20 (First year free)
- Local/PR: S$30,000

- Foreigner: S$60,000
N.A.
Maybank Horizon Visa Signature Card
Maybank-Horizon-Visa-Signature-Card-1

- S$1 = 3.2 miles on Dining, Petrol, Taxi Fares and Agoda Hotel Bookings

- S$1 = 2 miles on Air Tickets, Travel Packages and Overseas Spend

- S$1 = 0.4 miles on General Spending

- Complimentary Travel Insurance
- Miles awarded as TREAT Points ,which is capped at 30,000 per month
 
- Min. S$300 monthly spend

- Annual fee: S$180 (First 3 years free)
- Local/PR: S$30,000

- Malaysian Citizen: S$45,000

- Foreigner: S$60,000
Apply for a credit card and CreditAble account, and spend and/or withdraw S$300 from your CreditAble account for 2 consecutive months to get a Samsonite Harts 68/25 Spinner (worth S$500). 

Valid for the first 4,500 applicants. Remaining applicants will get S$100 cashback. T&Cs apply.
UOB PRVI Miles Card
UOB_PRIVIMILES_MASTER

 

- S$1 = 6 miles on Selected Online and Flight Bookings at Agoda, Expedia, and UOB Travel

- S$1 = 3.2 miles on Overseas Spend

- S$1 = 1.4 miles on Local Spend

- Complimentary Travel Insurance 
- Miles awarded as UNI$
 
- S$25 per redemption

- Annual fee: S$259.20 (First year free)
- Local/PR: S$30,000

- Foreigner: S$40,000
Apply and spend S1,000 for 2 consecutive months to get 50,000 miles.

Valid till 31 March 2023. T&Cs apply.

Plus, score a BRONZE ticket (1x chance) in our March Madness Grand Lucky Draw when you apply, for a chance to win your share of over S$20,000 worth of prizes! Valid till 2 April 2023. T&Cs apply.

 


Read these next: 
Premium Credit Cards: Which Gives High Income Earners The Best Value?
Best Grocery Credit Cards in Singapore
Best Credit Cards Hacks To Go With Your Choice Of Buy Now, Pay Later (BNPL)
Earn Elite Status Credits With KrisFlyer By Converting Credit Card Points (And More)
Credit Cards That Supercharge Your Savings On Open Electricity Market

An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.