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

SingSaver team

SingSaver team

Last updated 11 January, 2024

Earn up to 9,000 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.

For more HSBC credit card options, check out our blog listing the best HSBC credit cards today.

Table of contents

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SingSaver's Best Deal Guarantee: Our Best Deal Guarantee promises you the best deal only with SingSaver. If you find a better offer elsewhere, submit a claim, and we'll reward you with double the difference. Valid till 30 April 2024. T&Cs apply.


Looking for the best credit cards to complement your spending patterns and expenditure in 2024? 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 Revolution Credit Card Overview

HSBC-Revolution-New

HSBC Revolution Credit Card product summary:

  • 10X Rewards Points / 4 mpd for online purchases (including food deliveries, groceries, online shopping and travel)
  • 10X Rewards Points / 4 mpd for contactless spending, through Visa PayWave, Apple Pay, and Google Pay
  • 1X Rewards Point / 0.4 mpd for all other spending
  • Virtual card for payment using your mobile phone or compatible wearables
  • No credit card annual fee, ever
  • Minimum income requirement: S$30,000 per year for Singaporeans/PRs, S$40,000 for self-employed, PR or foreigners
Pros ✅ Cons ❌
10X Rewards Points for online and contactless spending, equivalent to 4 miles per dollar or 2.5% cashback 10X Rewards Points do not apply to certain merchant category codes (MCCs) like:

AXS and ATM transactions, top-ups to e-wallets and stored value cards, payments to insurance, educational institutions and payments, among others
No credit card annual 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 contactless 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) Costlier conversion fees (albeit unlimited conversions)
S$300,000 travel insurance cover for cardholder and family members  

SingSaver's Exclusive Offer: Enjoy the following rewards when you sign up for an HSBC Revolution Card:

Receive a Dyson AM07 (worth S$459) or Apple Airpods (3rd Gen) With Magsafe Charging Case (worth S$274) or S$250 eCapitaVoucher or 15K Heymax Miles (worth a free flight to Tokyo, Japan) upon activating and spending min. S$500 by the end of the following calendar month from the card account opening date. Valid till 14 May 2024. T&Cs apply.


HSBC Everyday+ Rewards

Screenshot 2023-05-01 at 1.39.33 PM

The HSBC Everyday Global Account is HSBC's multi-currency account that offers up to 11 different currencies to transact in. There are absolutely no fees imposed for shopping and withdrawing in 10 currencies and their HSBC Global Money Transfers service makes international transfers seamless. What's more, it matches real-time FX rates to give you the best foreign currency conversions for your overseas spending.

See also: Digital Multi-Currency Account Comparison

On top of a 1% cashback on qualifying credit card transactions, HSBC EGA holders will earn 1% bonus interest on incremental SGD balances.

 
Personal Banking
Premier Customers
Eligible Cards
Any HSBC credit card or EGA debit card
Any HSBC credit card or EGA debit card
Minimum EGA Deposit Per Month
S$2,000
S$5,000 (Premier & Jade)
Bonus Interest
1% on Incremental SGD Balances
1% on Incremental SGD Balances
Cashback
1% on 5 eligible transactions
1% on 5 eligible transactions
Minimum Transactions Per Month
5
5
Qualifying Transactions
Make 5 eligible transactions
(Can be a combination of the following)
• HSBC Credit Cards
• HSBC Everyday Global Debit Card
• GIRO Bill Payments including: Insurance premium payment, Repayment of Car Loan, Utilities & Telco bill payments, Non-HSBC CC bill payments, School fees, Income Tax
• Outward Funds transfers /Paynow /FX/TT
Make 5 eligible transactions
(Can be a combination of the following)
• HSBC Credit Cards
• HSBC Everyday Global Debit Card
• GIRO Bill Payments including: Insurance premium payment, Repayment of Car Loan, Utilities & Telco bill payments, Non-HSBC CC bill payments, School fees, Income Tax
• Outward Funds transfers /Paynow /FX/TT
Cap
S$300 Bonus Interest + S$300 Cashback = S$600
S$300 Bonus Interest + S$500 Cashback = S$800
Crediting Time
By end of following month
2-14 business days

4 benefits of 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 your next trip, the HSBC Revolution credit card is the better way to do it. 

💡 Pro-tip: Basically, if you find yourself struggling to meet the minimum spend requirement (in cashback cards), miles cards are the way to go. Instead of minimum spend, you'll only need to worry about the reverse — managing the spend cap.

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, online transactions and contactless spending under the relevant merchant category codes (MCCs) 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. 

In general, HSBC Revolution's eligible merchants include travel-related transactions department store and retail store spend, supermarkets, dining, food delivery, and other transportation and membership club payments. Below is a table to illustrate:


Source: HSBC

Since 1 January 2024, the HSBC Revolution Card no longer earns 10X Rewards on MCC 4722 (Travel Agencies & Tour Operators) and MCC 7011 (Lodging - Hotels, Motels, and Resorts).

MCC 4722 (Travel Agencies & Tour Operators) ✈️🌍
MCC 7011 (Lodging - Hotels, Motels, and Resorts) 🏠
  • Agoda
  • Changi Recommends
  • Expedia
  • Hotels.com
  • Kayak
  • KKday
  • Klook
  • Pelago
  • Skyscanner
  • Traveloka
  • Trip.com
  • All brick-and-mortar travel agents (e.g. Chan Brothers)
  • Airbnb
  • Marina Bay Sands
  • Millennium Hotels & Resorts
  • M Social
  • Pan Pacific Hotels
  • Rakuten Travel
  • Resorts World Sentosa

Notably, not all hotels will be affected by these changes in exclusions. Major hotel chains such as the Hilton (MCC 3504) and Hyatt (MCC 3604) have their unique MCCs falling in the 3500-3999 range. Thus, you'll need to conduct your own checks to verify which MCC your transactions at these hotels fall under.

So if the HSBC Revolution Card has been your go-to miles credit card for all your travel bookings, it's time to re-consider other options like the UOB Lady's / Lady's Solitaire Card, KrisFlyer UOB Card (for Singapore Airlines and Scoot), or any other travel credit cards – all available here on SingSaver!

Read more:
Best Credit Cards For Booking Flights And Hotels
7 KrisFlyer Elite Gold Benefits And More

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.

Meanwhile, its list of unrecognised MCCs for bonus rewards points includes the usual excluded culprits like utilities, education fees, government institutions, tax payments, insurance premiums, store-reload top-ups, and more:

Source: HSBC

SingSaver's Exclusive Offer: Enjoy the following rewards when you sign up for an HSBC credit card.

Receive a Dyson AM07 (worth S$459) or Apple Airpods (3rd Gen) With Magsafe Charging Case (worth S$274) or S$250 eCapitaVoucher or 15K Heymax Miles (worth a free flight to Tokyo, Japan) upon activating and spending min. S$500 by the end of the following calendar month from the card account opening date. Valid till 14 May 2024. T&Cs apply.

For HSBC TravelOne Card: Receive the above rewards when you activate and spend a min. S$500 plus pay an annual fee of S$196.20 by the end of the following calendar month from the card account opening date. Valid till 14 May 2024. T&Cs apply.


#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.


SingSaver's Most Recommended Travel Insurance Products: Apply today to enjoy comprehensive coverages at affordable premiums, irresistible sign-up offers, and the ultimate peace of mind during your travels.

Product Best for Key coverages Promotion
Allianz Travel Hero
[Lowest price in Singapore guaranteed]
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High coverage per dollar - Up to S$500,000 for overseas medical expenses

- Up to S$150,000 accidental death and total and permanent disability

- Up to S$15,000 travel cancellation

- Up to S$3,000 flight delay (S$400 for daily receipts limit, min 6h)

- Up to S$3,000 loss of baggage
Buy now to receive:

4 miles per S$1 spend on your premium. Valid till 2 May 2024 8:59 am. and  T&Cs apply.

Complimentary lounge access during flight delays. Valid till 1 July 2024 8:59 am. 

Exclusive on SingSaver only.
FWD Travel Insurance
[Best deal guaranteed] 

fwdlogo

 

Affordability  - Up to S$1,000,000 for overseas medical expenses

- Up to S$400,000 accidental death and total and permanent disability

- Up to S$15,000 travel cancellation

- Up to S$1,000 flight delay (S$100/6h)

- Up to S$7,500 loss of baggage
Use the promo code TRAVEL25 to get a 25% discount on Single Trip and Annual Trip plans! Valid till 15 April 2024. T&Cs apply.

Buy now to receive:

4 miles per S$1 spend on your premium. Valid till 2 May 2024 8:59 am. and  T&Cs apply.

Complimentary lounge access during flight delays. Valid till 1 July 2024 8:59 am. 
MSIG TravelEasy
[Best deal guaranteed] 

msig-logo

 

Comprehensive medical coverage - Up to S$1,000,000 for overseas medical expenses

- Up to S$500,000 accidental death and total and permanent disability

- Up to S$15,000 travel cancellation

- Up to S$1,500 flight delay (S$100/6h)

- Up to S$7,500 loss of baggage
Get up to 40% off when you buy NOW! Valid till 30 April 2024.  Also receive:

4 miles per S$1 spend 
on your premium. Valid till 2 May 2024 8:59 am. and  T&Cs apply.

Complimentary lounge access during flight delays. Valid till 1 July 2024 8:59 am. 

HSBC Rewards Points credited time

10X Reward Points earned from eligible transactions consist of two parts:

  • Base 1X Points
  • Bonus 9X Points

The base 1X points will be credited into your account based on your statement cycle. Meanwhile, the bonus 9X points will be credited into your account on the last day of the following calendar month from the posted transaction date. This will therefore be reflected in your statement by the last day of the second calendar month.

This is to say, suppose you:

Spent S$100 on dinner at Hai Di Lao on 5 November, you'll earn and be credited the base 1X points (100 Reward Points) in your next statement cycle whereas the bonus 10X points (1,000 Reward Points) will be credited and reflected by 31 December, latest.

💡Pro-tip: HSBC Rewards Points transfers are batched and processed on a weekly basis, translating to a waiting time of anywhere between 1 to 7 days.


How to calculate HSBC Rewards Points?

The best way to maximise your HSBC Revolution Credit Card is to reach the spend cap of S$1,000 each calendar month. By spending S$1,000, this is the point breakdown you stand to earn:

  • 1X base points * S$1,000 = 1,000 Rewards Points
  • 9X bonus points * S$1,000 = 9,000 Rewards Points
  • Total points earned = 10,000 Rewards Points

When converted to miles, these 10,000 Rewards Points will equate to 4,000 miles in total.

Also do note that HSBC Rewards Points do not pool. Thus, you cannot combine points from other HSBC cards to convert them into miles.

But on the bright side, its miles conversion fee operates on a mileage programme membership basis. So as long as you pay the annual S$43.20 membership fee per year, you'll gain access to an unlimited number of point-to-miles conversion.

💡Pro-tip: For perspective, a one-way economy class ticket from Singapore to Kuala Lumpur costs 8,500 KrisFlyer miles to redeem. Therefore, the 4,000 miles earned through a month's spending already cover half the miles redemption needed for that ticket!


Read more: 

Kris+ Guide: How to Maximise KrisFlyer Miles With Credit Cards
The Kris+ App is My Secret Travel Hack to Scoring Miles
7 Common Mistakes People Make When Redeeming Miles


Promotions for the HSBC Revolution Credit Card

SingSaver's Exclusive Offer: Enjoy the following rewards when you sign up for an HSBC Revolution Card:

Receive a Dyson AM07 (worth S$459) or Apple Airpods (3rd Gen) With Magsafe Charging Case (worth S$274) or S$250 eCapitaVoucher or 15K Heymax Miles (worth a free flight to Tokyo, Japan) upon activating and spending min. S$500 by the end of the following calendar month from the card account opening date. Valid till 14 May 2024. T&Cs apply.


What charges or fees should you look out for?

  • No annual fee
  • Effective Interest Rate: 26.9% 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% p.a.
  • Foreign currency transaction fee: 2.25%
  • Annual mileage programme fee: S$43.20

Eligibility criteria

  • At least 21 years old
  • Annual income requirement for Singaporeans/PRs: S$30,000
  • Annual income requirement for Foreigners/Self-Employed: S$40,000

How to apply?

HSBC Revolution

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/Proof of billing address
  • Salaried employees: Past 12 months' CPF statement (Singaporean/PR), latest Income Tax Notice of Assessment via Myinfo, and latest 3 months' original computerised payslip
  • Self-employed: Past 12 months' CPF statement and latest Income Tax Notice of Assessment
    • Latest 1 year's Notice of Assessment only required if the above is not available

Is the HSBC Revolution Credit Card for you?

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

HSBC TravelOne

HSBC TravelOne Card product summary

Local spend 1.2 miles per S$1 spend
Foreign spend 2.4 miles per S$1 spend
Airport lounge access 4 visits per year
Travel insurance Up to US$100,000 coverage
Perks ⭐ 5 free supplementary cards

No conversion fee for miles or hotels points (until 31 Dec 2023)

CitiRewardsMC

Citi Rewards Card product summary

Miles earn rate ✈️
10X Rewards Points / 4 mpd on:
  • Online spend and shopping purchases

  • Ride-hailing apps (e.g. Gojek, Grab)

  • Online food delivery

  • Online groceries

0.4 mpd on all other spend
Bonus points cap
9,000 bonus points per month / S$1,000 spend per month
Base points cap
None
Travel insurance
Up to S$1 million coverage
⭐ 10X Rewards Points are rounded down to the nearest value
DBS_WOMANS

DBS Woman's Card

DBS_woman-world-ELISA-Choy-2018

DBS Woman's World Card

DBS Woman's/Woman's World Card product summary

 
DBS Woman's Card
DBS Woman's Wold Card
Miles earn rate ✈️
4 mpd on online spend
0.4 mpd on all other spend
4 mpd on online spend
1.2 mpd on foreign spend
0.4 mpd on all other spend
e-Commerce protection
Yes
Yes
Spend cap
S$1,000 online spend per month
S$2,000 online spend per month
Other perks ⭐️
Extra 5% cashback on overseas shopping and dining

 

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