Best Way to Use HSBC Rewards Points in 2026
Clocked a bunch of HSBC Rewards Points with your HSBC Revolution and not sure how best to use them? Let’s look at the different options available and my take on the value you can get with each redemption.
Plant A Tree
HSBC ties up with One Tree Planted and you can redeem your HSBC Points to plant trees. It costs 600 HSBC Rewards Points to plant a single tree. The cost of doing the same is US$1 per tree on One Tree Planted’s website, so you are getting about 0.22¢ of value per point in SGD.
| HSBC Points : Tree | Value Per Point (SGD) |
|---|---|
| 600 : 1 | 0.22¢ (Priceless?) |
My take: Contributing to a good cause is great, but you can just use the points elsewhere, and donate to the cause (or any other charity you like) through other means.
Pay with Points
HSBC Rewards Points can also be exchanged for cash rebates at a ratio of 400 points for every S$1. There is a minimum of 4,000 points per transaction, and it works out to a value of 0.25¢ per point.
| HSBC Points : Cashback | Value Per Point (SGD) |
|---|---|
| 400 : S$1 (min. 4,000 points) | 0.25¢ |
My take: redeeming points for cash is really one of the last resorts one should do if they really cannot exchange it for things like miles to deal with expiring points.
Rewards Marketplace
The bank boasts a Rewards Marketplace of over 2,000 items, but it’s probably going to find a good redemption. I looked at several items and the value per point you can get would be roughly around what you would get from using your points for cash rebates.
| Item | Points Required | Retail Value | “Street” Value | Value Per Point (SGD) |
|---|---|---|---|---|
| MacBook Neo | 293,067 | S$849 | S$729 to S$799 | 0.29¢ (0.25¢ to 0.27¢) |
| S$10 eCapitaVoucher | 4,352 | S$10 | S$9.40* | 0.23¢ (0.22¢) |
It is made worse that the “street” value of items you can find there are usually less than the retail price of each item. For instance, at full retail price, a MacBook Neo goes for S$849. This makes the 293,067 points required worth 0.29¢ each. However, you can easily buy it at certain retailers now at just S$799, or use someone’s educational qualification to buy the laptop at just S$729. Each point now falls 0.25¢ to 0.27¢.
The store also has a few redemptions at puzzling prices. eCapitaVouchers, for instance, cost more than cash rebates. Why would anyone trade 4,352 points for S$10 eCapitaVouchers when they can redeem 4,000 points for S$10 rebate off their statement?
Don’t forget that redeeming for items also mean that you lose the ability to use your card to pay for them which can earn you miles or cashback which furthers decreases the value you can get from each point.
My take: unless you can find a redemption that makes sense (I couldn’t), this isn’t a good option. Let me know if you find anything worth redeeming.
Hotel Points
HSBC ties up with 4 hotel loyalty programmes that you can transfer your HSBC Rewards Points to:
| Hotel Chain | HSBC Points : Hotel Points | Value Per Hotel Point (SGD) | Value Per HSBC Point (SGD) |
|---|---|---|---|
| Accor Live Limitless | 5 : 1 (min. 25,000 points) | ~2.95¢ | ~0.59¢ |
| IHG One Rewards | 2.5 : 1 (min. 25,000 points) | ~0.80¢* | ~0.32¢ |
| Mariott Bonvoy | 2.5 : 1 (min. 25,000 points) | ~0.90¢* | ~0.36¢ |
| Wyndham Rewards | 3 : 1 (min. 30,000 points) | ~1.10¢* | ~0.37¢ |
Accor Live Limitless (ALL) probably gives the best value here, and it is the only hotel loyalty chain here to offer a fixed valuation for its points. Every 2,000 ALL points can be used to offset €40 when you book Accor hotels, and this leads to a 2.95¢ per ALL point valuation. Since you’ll need 5 HSBC Points for every ALL point, each of your HSBC Point will be worth 0.59¢ with such a conversion.
Note that ALL points cannot be used to book Red Hot Rooms (promotional rates for discounted rooms) and as such, should not be seen to be as good as cash. For instance, a room may cost S$400 when you use points, but the hotel might be offering the same room at 20% off at $320. Your points are hence 20% less valuable since you are essentially offsetting S$320 of costs instead of S$400 in this scenario.
IHG One Rewards, Marriot Bonvoy, and Wyndham Rewards use dynamic pricing so it is harder to put a dollar amount on the value of their points. I’ve used a rough average of their worth based on multiple sources online to derive the value per point.
My take: using your HSBC Points for hotels is likely better than using them for cash rebates, but not better than for miles.
Airline Miles
Airline miles are actually one of the trickiest things to put a value to because the value of a mile can be highly subjective (and even contentious). This is because even though a business class ticket may be sold for S$4,000 or cost 100,000 miles to redeem, you cannot simply say that each mile is worth 4¢.
You can watch this short-form video I made on the topic (TikTok / Instagram) or stay subscribed (Telegram / WhatsApp) for more content on valuing miles, but here are my own valuation of each mile one can roughly get:
| Airline | Transfer Ratio | Value Per Mile (SGD) | Value Per HSBC Point (SGD) |
|---|---|---|---|
 Singapore Airlines Krisflyer | 30,000 points : 10,000 miles | ~1.5¢ | 0.50¢ |
 British Airways Club | 25,000 points : 10,000 miles | ~1.75¢ | 0.70¢ |
 Cathay Pacific Asia Miles | 25,000 points : 10,000 miles | ~1.25¢ | 0.50¢ |
 EVA Air Infinity MileageLand | 25,000 points : 10,000 miles | ~1.75¢ | 0.70¢ |
I value KrisFlyer miles at roughly 1.5 cents each, and often use my KrisFlyer miles during monthly Spontaneous Escapes promos. At 30% discount, it’s a great use of KrisFlyer miles although they tend to be for regional destinations. However, HSBC has a poor conversion ratio for KrisFlyer miles, which is why I would likely never use my HSBC points for this. It’s a little like eating white rice at a seafood buffet, especially because HSBC points can go to other airlines for better value.
One example is EVA Air because of the ability to book Singapore Airlines flights for significantly fewer miles. EVA Air itself also flies to places like Taipei or Japan (with a layover in Taipei) for just 25,000 miles in business class. This is why I value EVA Air Infinity MileageLand (IML) miles at least 15% higher than KrisFlyer miles.
Another example is the use of Avios for some good redemptions. I currently have a guide on how to use Avios for Cathay Pacific flights, but stay tuned for more Avios-related content. While you can transfer HSBC points to either Qatar Airways Privilege Club or British Airways Club, it makes more sense to do it through British Airways Club at a 25,000 : 10,000 conversion ratio than to take a worse ratio of 30,000 : 10,000 for Privilege Club.
I have more reservations about Cathay Pacific Asia Miles. While I enjoy Cathay Pacific flights, it’s possible to use Avios to book them for cheaper, so I prefer going that route. Availability is better when you use Asia Miles, but so far I’m valuing them lower than other miles because
My take: the best use of HSBC Rewards Points is to use them for miles, specifically EVA Air or Avios (via British Airways). While KrisFlyer is an option, the poorer conversion ratio just makes it unpalatable. I would rather use my DBS and UOB points for KrisFlyer miles.
HSBC miles cards
Earn HSBC points with these cards:
Verdict
You might already know this, but the best use for HSBC Rewards points is to convert them into miles with airline frequent flyer programme. Even then, not all airlines are the same, and I would highly recommend the use of programmes like Avios through British Airways Club or Eva Air Infinity MileageLand.
ALL actually performs pretty decently here, giving a pretty good value per point such that it overtakes KrisFlyer or Cathay Pacific miles in my books.
| Item | Rank |
|---|---|
| EVA Air IML or Avios (through British Airways Club) | 🏆 |
| Accor Live Limitless | 🥈 |
| KrisFlyer or Asia Miles | 🥉 |
| Everything else | 🙂↔️ |
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Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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