American Express Cobalt vs HSBC + Rewards Mastercard

By   |   Verified by David Boyd   |   Updated 17 Aug 2023

The main difference between the American Express Cobalt and the HSBC Plus Rewards Mastercard lies in their interest rates, rewards structure, fees, and standout features. While both offer attractive rewards programs, they have some striking differences that cater to different spending habits and lifestyles.

The American Express Cobalt card is a front-runner in the rewards game, with a strong focus on foodies and travel enthusiasts. It dishes out substantial points on dining and travel expenses, making it an ideal choice for those who frequently indulge in culinary delights or embark on globetrotting adventures. The card also comes with a variety of travel perks, such as travel insurance and airport lounge access, which can sweeten the deal for avid explorers.

On the other hand, the HSBC Plus Rewards Mastercard offers a more well-rounded approach to rewards. While it also provides points on dining and travel, its rewards program extends to other everyday expenses, making it suitable for a wider range of spenders. Moreover, the card boasts a solid introductory offer, often with a juicy bonus points boost. This can be an appealing option for those looking to make a splash with their initial purchases.

When it comes to fees, the American Express Cobalt card may have a higher annual fee, but its rich rewards potential and unique perks can offset this cost for those who align with its target audience. Meanwhile, the HSBC Plus Rewards Mastercard may present a more budget-friendly option for those who want a balance between rewards and fees.

In the end, your choice between these two credit card contenders boils down to your lifestyle, spending habits, and reward preferences. Whether you're a food aficionado dreaming of culinary escapades or a pragmatic spender seeking versatile rewards, each card has its own distinct flavor to cater to your financial cravings.

American Express Cobalt Card
 

On website

HSBC + Rewards Mastercard
 
Description
Offers an attractive rewards program with a focus on earning points quickly on everyday spending categories like dining, streaming subscriptions, and transportation.With its 11.9% p.a. interest rate on purchases, cash advances, and balance transfers, HSBC + Rewards Mastercard makes your everyday spending convenient and more rewarding.
Basics
Additional Cardholders
94
Card Type
American ExpressMastercard
Minimum Credit Limit
N/A$500.00
Maximum Credit Limit
N/AN/A
Sign up bonus
Signup Bonus Points
15000 pointsN/A
Signup Bonus Points Required Spend
$750.00N/A
Signup Bonus Points Required Spend Terms
eligible purchases every month for 12 months, that's 1,250 Membership Rewards points for each monthly billing period.N/A
Rewards
Rewards Program
American Express RewardsHSBC Plus Rewards
Domestic Rewards Points Earn Rate
11
Benefits
Airport Lounge Access Included
YesNo
Concierge Service Included
YesNo
Cardholder's International Travel Insurance
YesNo
Complimentary Flight Voucher Included
NoNo
Introductory balance transfer
Balance Transfer Rate
N/A11.9%
Balance Transfer Period
N/AN/A
Balance Transfer Fee
N/AN/A
Balance Transfer Limit
N/AN/A
Balance Transfer Revert Rate
N/AN/A
Ongoing rates
Cash Advance Rate
21.99% p.a.11.9% p.a.
Purchase Rate Ongoing
21.99% p.a.11.9% p.a.
Ongoing fees
Annual Fee Ongoing
$155.88$25.00
Foreign Exchange Fee Percentage
N/A2.5%
Late Payment Fee
$38.00N/A
Overseas ATM Withdrawal Fee
$5.00$5.00
Digital wallets
Apple Pay Enabled
YesYes
Google Pay Enabled
YesYes
Samsung Pay Enabled
YesYes
Eligibility
Available To Existing Customers
NoNo
Minimum Age
18 years18 years
Minimum Credit Rating
GoodGood
Minimum Income
N/AN/A
Temporary Residents Accepted
NoYes