HSBC Visa Signature vs. HSBC Red: Which Card Earns You More in 2026?
Last updated: January 2026
Choosing between the HSBC Visa Signature and HSBC Red credit card? Both are heavyweights in the Hong Kong credit card market, offering solid cashback (HSBC RewardCash) or the option to convert to Asia Miles at a rate of $0.10 RewardCash per mile.
But which one actually puts more money back in your pocket? The answer isn’t always simple—it depends entirely on where you spend your money.
Quick Verdict
- Choose HSBC Red if you are a digital native. It offers an incredible 4% cashback on online purchases and up to 8% at specific merchants like Sushiro and GU. It’s the “set it and forget it” card for online shoppers.
- Choose HSBC Visa Signature if you spend heavily offline or overseas. It grants you 2.4% cashback on a single category of your choice (e.g., Dining or Overseas Spending) and 1.2% on four other categories. It is the superior “lifestyle” card for dining out and travel.
Still unsure? Don’t guess. Use our free Credit Card Calculator to input your exact monthly spending and see which card wins for your specific lifestyle.
Comparison Table
| Feature | HSBC Visa Signature | HSBC Red |
|---|---|---|
| Annual Fee | HKD 2,000 (waived first 2 years) | Free |
| Minimum Income | HKD 240,000/year | HKD 120,000/year |
| Best Cashback Rate | 2.4% (5X category) | 8% (special merchants) |
| Secondary Rate | 1.2% (other eligible categories) | 4% (online shopping) |
| Base Rate | 0.4% (non-category spending) | 0.4% |
| Cashback Cap | HKD 100,000 total category spending/year | HKD 100/month (8%), HKD 400/month (4%) |
| Category Selection | Choose 1 of 5 categories | Fixed categories |
| Miles Conversion | $0.10 RewardCash = 1 mile | $0.10 RewardCash = 1 mile |
| Card Network | Visa | Mastercard |
When to Choose HSBC Visa Signature
The Visa Signature is a powerhouse for everyday spending, both in Hong Kong and abroad. With a strong effective rate of 1.2% across five major categories, it covers most non-online spend.
However, keep an eye on the cap: if you are a heavy spender, you might burn through the HKD 100,000 annual cap on bonus rewards quickly, once this happens you are earning a rather poor 0.4%.
✅ You Spend Big in One Category
If you regularly spend HKD 8,000+ per month in Dining, Overseas Travel, Lifestyle, Home (supermarkets/electronics), or Shopping, the 2.4% rate compounds into serious rewards.
- Example: HKD 10,000/month on dining = HKD 240/month cashback.
- Bonus: Your spending in the other four eligible categories still earns 1.2%.
✅ You Value Flexibility
Unlike Red’s fixed merchant list, you can choose your 5X category during the registration period via the Red Hot Rewards of Your Choice program:
* Dining: Restaurants, cafes, food delivery
* Overseas & Mainland: All foreign currency transactions
* Lifestyle: Fitness, cinema, entertainment, travel
* Home: Supermarkets, furniture, electronics, telecom
* Shopping: Department stores, fashion, beauty
✅ You Want Premium Perks
The Visa Signature card comes with lifestyle benefits that the Red card lacks:
* Cinema: Buy 1 get 1 free movie tickets (Mon-Thu) at Emperor Cinemas.
* Dining: Up to 15% discounts at select hotel restaurants and the Lai Sun Dining group.
* Travel: Discounts on cross-border limousine services.
When to Choose HSBC Red
The Red card is the no-fee, no-fuss option. It is arguably the best entry-level card in Hong Kong for online transactions.
✅ You Shop Online Frequently
The 4% online cashback is straightforward. It applies to:
* E-commerce (HKTVmall, Amazon, Taobao)
* Food delivery apps (Deliveroo, Foodpanda)
* Streaming subscriptions (Netflix, Spotify)
* Online retail purchases
Note: The cap is HKD 400 cashback/month, which requires HKD 10,000 of online spending to max out.
✅ You Visit Partner Merchants
The 8% rate at specific merchants is unbeatable in the market:
* Dining: Sushiro, TamJai SamGor, TamJai Yunnan, The Coffee Academics
* Retail: GU, Decathlon, Lululemon
* Entertainment: NAMCO, Taito Station
Note: The cap is HKD 100 cashback/month, which requires HKD 1,250 spending to max out.
✅ You Don’t Want Annual Fee Hassles
The HSBC Red card has a perpetual annual fee waiver. No need to call customer service to waive fees or hit spending thresholds.
Real-World Scenarios with Numbers
The best way to find out which card earns best for you, is to visit our card calculator, and simply input your average monthly spend in different categories to get a personalized calculation.
But to give you an idea of how different people might get different results, let’s compare the cards across different spending profiles using our calculator logic.
Scenario 1: The Online Shopping Enthusiast
Monthly spending:
- Online shopping: HKD 8,000
- Special merchants (Sushiro, GU): HKD 1,000
- Other spending: HKD 5,000
HSBC Red Calculation:
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Special Merchants | HKD 1,000 | 8% | HKD 80 |
| Online Shopping | HKD 8,000 | 4% | HKD 320 |
| Other | HKD 5,000 | 0.4% | HKD 20 |
| Monthly Total | HKD 14,000 | HKD 420 | |
| Annual Total | HKD 168,000 | HKD 5,040 |
Effective rate: 3.0%
HSBC Visa Signature Calculation (Shopping as 5X category):
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Shopping (5X) | HKD 8,000* | 2.4% | HKD 192 |
| Other (non-category) | HKD 6,000 | 0.4% | HKD 24 |
| Monthly Total | HKD 14,000 | HKD 216 | |
| Annual Total | HKD 168,000 | HKD 2,592 |
Note: Online shopping MCC may not always qualify for Shopping category. If some spending falls into other eligible categories, it would earn 1.2% instead of 0.4%.
Effective rate: 1.54%
🏆 Winner: HSBC Red by HKD 2,448/year
Scenario 2: The Foodie Who Dines Out
Monthly spending:
- Dining: HKD 12,000
- Other spending: HKD 8,000
HSBC Red Calculation:
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Special Merchants* | HKD 2,000 | 8% → capped | HKD 100 (capped) |
| Spillover | HKD 750 | 0.4% | HKD 3 |
| Other | HKD 18,000 | 0.4% | HKD 72 |
| Monthly Total | HKD 20,000 | HKD 175 |
Only if dining at partner merchants like Sushiro/TamJai
Effective rate: 0.88%
HSBC Visa Signature Calculation (Dining as 5X category):
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Dining (5X) | HKD 12,000 | 2.4% | HKD 288 |
| Other (non-category) | HKD 8,000 | 0.4% | HKD 32 |
| Monthly Total | HKD 20,000 | HKD 320 | |
| Annual Total | HKD 240,000 | HKD 3,840 |
Effective rate: 1.6%
🏆 Winner: HSBC Visa Signature by HKD 1,740/year
Scenario 3: The Frequent Traveler
Monthly spending:
- Overseas/foreign currency: HKD 15,000
- Local dining: HKD 3,000
- Other: HKD 5,000
HSBC Red Calculation:
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| All spending | HKD 23,000 | 0.4% | HKD 92 |
| Monthly Total | HKD 23,000 | HKD 92 | |
| Annual Total | HKD 276,000 | HKD 1,104 |
No overseas bonus on Red
Effective rate: 0.4%
HSBC Visa Signature Calculation (Overseas as 5X category):
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Overseas (5X) | HKD 15,000 | 2.4% | HKD 360 |
| Dining (eligible) | HKD 3,000 | 1.2% | HKD 36 |
| Other (non-category) | HKD 5,000 | 0.4% | HKD 20 |
| Monthly Total | HKD 23,000 | HKD 416 | |
| Annual Total | HKD 276,000 | HKD 4,992 |
Effective rate: 1.8%
🏆 Winner: HSBC Visa Signature by HKD 3,888/year
Scenario 4: The Balanced Spender
Monthly spending:
- Online shopping: HKD 3,000
- Dining: HKD 2,000
- Groceries/home: HKD 3,000
- Other: HKD 4,000
HSBC Red Calculation:
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Online Shopping | HKD 3,000 | 4% | HKD 120 |
| Other | HKD 9,000 | 0.4% | HKD 36 |
| Monthly Total | HKD 12,000 | HKD 156 | |
| Annual Total | HKD 144,000 | HKD 1,872 |
Effective rate: 1.3%
HSBC Visa Signature Calculation (Home as 5X category):
| Category | Spending | Rate | Cashback |
|---|---|---|---|
| Home (5X) | HKD 3,000 | 2.4% | HKD 72 |
| Dining (eligible) | HKD 2,000 | 1.2% | HKD 24 |
| Shopping (eligible) | HKD 3,000 | 1.2% | HKD 36 |
| Other (non-category) | HKD 4,000 | 0.4% | HKD 16 |
| Monthly Total | HKD 12,000 | HKD 148 | |
| Annual Total | HKD 144,000 | HKD 1,776 |
Effective rate: 1.23%
🏆 Winner: HSBC Red by HKD 96/year
Final Recommendation
The Power Move: Why Not Both?
Many savvy cardholders in Hong Kong carry both cards to maximize their returns:
1. Use HSBC Red for all online shopping (4%) and partner merchant visits (8%).
2. Use HSBC Visa Signature for your highest offline spending category (2.4%) and other retail/dining (1.2%).
This combo ensures you rarely settle for the base 0.4% rate.
Want to see exactly how much you could earn?
Stop guessing. Enter your monthly spending into our Hong Kong Credit Card Calculator now to see your personalized ranking.
Disclaimer: Cashback rates, caps, and terms are subject to change. Always verify current offers on the HSBC website. This comparison is for informational purposes only and does not constitute financial advice.