Better and Worse: New HSBC Everyday+ Cashback Replaces HSBC Advance Credit Card’s Bonus Cashback
HSBC Advance Credit Card has been giving bonus 1% cashback on its base cashback (1.5% for monthly spends $2,000 and below, and 2.5% for monthly spends of above $2,000). This will change after 31st July 2021, however, as HSBC replaces the bonus cashback with a programme called HSBC Everyday+ Cashback.
It’s a rather notable change, even if you don’t use a HSBC Advance Credit Card.
Changes
| HSBC Advance Credit Card 1% Bonus Cashback (old) | HSBC Everyday+ Cashback (new) | |
| Eligible cards | HSBC Advance Credit Card | All HSBC credit and Everyday Global Account (EGA) debit cards |
| Required number of purchases | 5 Eligible Purchases on Advance Credit Card within the same calendar month | 5 Eligible Purchases within the same calendar month |
| Required deposit amount | Deposit minimum SGD2,000 fresh funds into EGA | Deposit minimum SGD2,000 fresh funds (for Personal Banking customers) and minimum SGD5,000 fresh funds (for Premier and Jade customers) into EGA |
| Qualifying purchases | Receive 1% Bonus Cashback from the first Eligible Purchase (only Advance Credit Card transactions) made in the same calendar month. | Receive 1% Everyday+ Cashback from the 6th Eligible Purchase (either HSBC credit card or EGA debit card transactions) onwards in the qualifying spend period. Qualifying spend period will start on the day following the date when all the requirements for Everyday+ Cashback have been fulfilled till the end of the next calendar month (e.g. if the qualifying requirements are fulfilled on 10 August 2021, the qualifying spend period will be from 11 August 2021 to 30 September 2021) |
Previously, as long as you deposit $2,000 fresh funds into your EGA and make 5 transactions on your HSBC Advance Card, you get the extra 1% cashback on all qualifying transactions within the calendar month including those 5 transactions.
From 2nd August, you would have to first perform these requirements first before a “Qualifying spend period” starts where eligible transactions would then get the 1% bonus. This period starts from the month the requirements are met, and last until the end of the following month. For instance:
| Date where deposit and 5 transactions are done | Qualifying spend period |
| 3rd August 2021 | 4th August to 30th September 2021 |
The simplest way to qualify would probably be to deposit the sum, then make 5 token transactions, whether it’s 1-cent payments to your telco, or buying small items at the super market.
Every HSBC card now qualifies!
While this may seem a little more troublesome, it does offer some benefits. The biggest one would probably be that all HSBC cards now qualify, and this includes the popular HSBC Revolution card which offers 4 mpd on Paywave and online transactions. An added 1% cashback makes it a very compelling alternative to other 4 mpd cards.
Also, if you do it early in the month, you do get 2 months of qualifying spend period for the bonus 1% cashback. This means that you will need to meet the requirements every other month instead of monthly, lowering the amount of fresh funds you need to deposit, unless you are a Premier/Jade banking customer. The amount needed is now increased to $5,000, though the maximum monthly cashback you can get from the bonus 1% cashback is increased from $300 to $500.
HSBC TravelOne
Get 4 complimentary lounge visits via DragonPass. Earn 1.2 miles per dollar on SGD transactions and 2.4 miles per dollar for foreign currency transactions. Full review
✈️ New and Existing Cardholders
Apply by 30th September 2026, pay annual fee of S$196.20, and spend at least S$1,000:
| Reward | |
|---|---|
| New Cardholders | 20,000 miles + Samsonite suitcase |
| Existing Cardholders | 10,000 miles + Samsonite suitcase |
⚠️ Important
- Provide HSBC consent to receive marketing/promotional materials during application
- Make min. spend of S$1,000 by the end of the following month from card approval date to be eligible for rewards (i.e. cards approved in March will have until 30th April to complete spend requirement)
- Annual fee of S$196.20 must be paid
- Existing cardholders are those who have not cancelled any HSBC card in the past 12 months, and their existing HSBC cards were issued more than 12 months ago
For reference only; refer to exact details in terms and conditions
HSBC Live+
Cards approved between 1st April 2025 to 31st March 2026: get upsized 8% cashback on dining and shopping and 5% cashback on fuel. Read the review here.
🎁 New Cardholders
Apply by 2nd August 2026 and choose 1:
Don’t like the gifts? You can choose to top up. Tap on Apply and view options on landing page. Refer to Important Steps below
💳 Existing Cardholders
Apply and receive:
Existing cardholders are those who have not cancelled any HSBC card in the past 12 months, and their existing HSBC cards were issued more than 12 months ago
⚠️ Important Steps
- Provide HSBC consent to receive marketing/promotional materials during application
- Fill up SingSaver Rewards Redemption Form to select your gift
- If no application reference number is provided, use the last 4 digits of your mobile number
- Existing cardholders can fill up the form pick any gift; S$50 cashback will be given upon completion of requirements
- Make a min. spend of S$500 by the end of the following month from card approval date to be eligible for rewards (i.e. cards approved in August will have until 30th September to complete spend requirement)
For reference only; refer to exact details in terms and conditions
HSBC Premier
Get 10X points on eligible Paywave (until 28th February 2026) and online transactions. Annual fee waived for life.
✈️ New and existing cardholders
Get up to 72,000 miles¹ (180,000 Reward points) and no annual fee when you apply as a Premier qualified customer (≥S$200,000 Total Relationship Balance)
Not a Premier qualified customer? You can still get up to 48,000 miles¹ (120,000 Reward points) when you pay the annual fee of S$708.50 (inclusive of GST)
💰 New Premier Customers
Share half of the referral reward² if you use my link and fill up the Google Form
⚠️ Important Notes
For reference only; refer to exact details in terms and conditions
HSBC Advance
Get 10X points on eligible Paywave (until 28th February 2026) and online transactions. Annual fee waived for life.
🎁 New Cardholders
Apply by 2nd August 2026 and choose 1:
Don’t like the gifts? You can choose to top up. Tap on Apply and view options on landing page. Refer to Important Steps below
💳 Existing Cardholders
Apply and receive:
Existing cardholders are those who have not cancelled any HSBC card in the past 12 months, and their existing HSBC cards were issued more than 12 months ago
⚠️ Important Steps
- Provide HSBC consent to receive marketing/promotional materials during application
- Fill up SingSaver Rewards Redemption Form to select your gift
- If no application reference number is provided, use the last 4 digits of your mobile number
- Existing cardholders can fill up the form pick any gift; S$50 cashback will be given upon completion of requirements
- Make a min. spend of S$500 by the end of the following month from card approval date to be eligible for rewards (i.e. cards approved in August will have until 30th September to complete spend requirement)
For reference only; refer to exact details in terms and conditions
Conclusion
If you meet the requirements, the HSBC Advance Credit Card remains a pretty decent 3.5% cashback card on nearly everything. Not the best, but probably pretty fuss-free.
The HSBC Revolution, on the other hand, becomes a 4mpd + 1% card. In a world where 4 mpd cards are the best for gathering miles, this makes the HSBC Revolution very good indeed.
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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