HSBC Visa Infinite Review (2023)

Here’s our review of the HSBC Visa Infinite card issued in Singapore. It forms part of our series of credit card reviews, which are all summarised on our dedicated Credit Cards page.

Dollar amounts refer to SGD, and ‘miles’ refer to KrisFlyer miles, except where stated. This review was updated on 20th February 2023.

Some nice benefits, including a 35,000 miles welcome bonus in year one, but without the same gift in subsequent years it’s hard to justify this card’s $660 annual price tag after that.

Lacklustre miles earning rates for at least the first year don’t help either.

Pros	Cons
35,000 miles sign-up bonus Up to five unlimited LoungeKey accounts Up to 24 airport limo rides per year Earn miles for transactions from $0.50 Up to 1% cashback for EGA account holders Golf, dining and spa privileges	High income requirement Poor miles earning rates for at least the first year Limited FFP transfer partners High miles transfer cost for those converting infrequently Points don’t pool with other HSBC cards No recurring annual miles bonus No miles with CardUp or ipaymy

• Minimum Age: 21
• Minimum Income: $120,000/yr

The HSBC Visa Infinite card has a $120,000 per year income requirement for all applicants.

If you do not meet the minimum annual income requirement of $120,000, you can still be considered for the HSBC Visa Infinite card with a minimum fixed deposit of $30,000, maintained with the bank until account closure.

• Annual Fee (principal): $656.08
• Annual Fee (HSBC Premier customers): $492.56
• Annual Fee (supplementary): Free

The annual fee for the HSBC Visa Infinite card is $656.08. HSBC Premier customers are entitled to a discounted annual fee of $492.56. The annual fee is not waivable.

Up to five supplementary cards can be added to your account for free. Supplementary cardholders must be at least 18 years old.

Other fees and interest rates for the HSBC Visa Infinite card include:

• EIR: 25.9%
• Interest-free period: 20 days
• Minimum payment: 3% (capped at $50)
• Late payment fee: $55
• Cash advance fee: 6% (capped at $15)
• Overlimit fee: $40

The HSBC Visa Infinite card currently has a sign-up bonus of 35,000 miles, which is almost consistently offered year round. In early 2019 a 40,000 miles offer was also available for a limited time.

If you have held the HSBC Visa Infinite card before and cancelled it within the last 12 months, you will not be entitled to the sign-up bonus.

The sign-up bonus is paid as HSBC Rewards points, which you can then transfer into frequent flyer miles.

Don’t get too excited by the “over 40 airlines” advertising tagline. In reality you can only convert your HSBC Rewards points into Singapore Airlines KrisFlyer miles or Asia Miles. The bank is then counting all Star Alliance and SIA Partner airlines, plus all oneworld carriers in the case of Asia Miles, in its sum of 40!

While it’s true that you can redeem HSBC Rewards points with all these airlines, you can only transfer into one of two FFPs in order to do so, and the redemption rates for partners then aren’t always attractive.

For example, BA Executive Club members (and now Qatar Privilege Club members too) can access much better value on intra-Asia short-haul awards using Avios, which would cost a lot more via the Asia Miles programme. Avios sadly isn’t an available transfer option for HSBC cardholders in Singapore.

Since we value KrisFlyer miles at 1.9 cents each, the 35,000 miles sign-up bonus is worth at least $665 against future Singapore Airlines flight redemptions, so the card effectively pays for itself, even if you won’t use the other perks in year one.

Looking at it another way, it’s an effective cost per mile of 1.86 cents for regular cardholders and 1.39 cents for HSBC Premier customers.

There is no minimum spend required to trigger the sign-up bonus, which is credited to your account within 30 days of approval. Full terms and conditions are available here.

HSBC previously used to offer miles to some customers when paying their annual fee on card renewal (e.g. at the end of the first year), however this was never consistently offered.

More recently we understand a miles renewal bonus is generally not awarded in subsequent years, so you’ll have to justify the full cost of this card ($656 or $493 depending on your banking relationship status with HSBC) for subsequent renewals.

The HSBC Visa Infinite card earns:

• 1 mile for every $1 spent locally (i.e. transacted in SGD), and
• 2 miles for every $1 spent overseas (i.e. transacted in foreign currency).

Those rates increase, but only from year two at the earliest, provided you spent at least $50,000 in the previous year, to:

• 1.25 miles for every $1 spent locally (i.e. transacted in SGD), and
• 2.25 miles for every $1 spent overseas (i.e. transacted in foreign currency).

To retain the higher rate, which HSBC calls the ‘step up earn rate’, you’ll still need to transact at least $50,000 in each card membership year, otherwise you’ll drop back to the regular rates for the following year.

For example if you spend $52,000 in Year 1, then you’ll be entitled to the ‘step up earn rate’ in Year 2, but then if your spend in Year 2 is only $48,000 you’ll be back to the regular earn rates for Year 3.

These earn rates (especially in Year 1) compare poorly with other credit cards on the market in Singapore, including the UOB PRVI Miles (1.4 mpd locally, 2.4 mpd overseas).

From 1st July 2020, HSBC’s expanded list of categories for points earning exclusions came into effect. The following categories won’t earn any miles with this card:

• Foreign exchange transactions (including but not limited to Forex.com);
• Donations and payments to charitable, social organisations and religious organisations;
• Quasi-cash transactions (including but not limited to transactions relating to money orders, traveler’s checks, gaming related transactions, lottery tickets and gambling);
• Payments made to financial institutions, securities brokerages or dealers (including but not limited to the trading of securities, investments or crypto-currencies of any kind);
• Payments on money payments/transfers (including but not limited to Paypal, SKR skrill.com, CardUp, SmoovPay, iPayMy);
• Payments to any professional services provider (including but not limited to GOOGLE Ads, Facebook Ads, Amazon Web Services, MEDIA TRAFFIC AGENCY INC);
• Top-ups, money transfers or purchase of credits of prepaid cards, stored-value cards or e-wallets (including but not limited to EZ-Link, Transitlink, NETS Flashpay and Youtrip);
• Payments in connection with any government institutions and/or services (including but not limited to court costs, fines, bail and bond payment);
• Any AXS and ATM transactions;
• Tax payments (except HSBC Tax Payment Facility);
• Payments for cleaning, maintenance and janitorial services (including property management fees);
• Payments to insurance companies (including but not limited to sales, underwriting, premiums and insurance services);
• Payments to educational institutions;
• Payments on utilities;
• The monthly instalment amounts under the HSBC Spend Instalment;
• Balance transfers, fund transfers, cash advances, finance charges, late charges, HSBC’s Cash Instalment Plan, any fees charged by HSBC;
• Any unposted, cancelled, disputed and refunded transactions.

Source: HSBC Rewards Programme T&C (Jul 20)

This list may be updated from time to time, so check the terms and conditions for the latest information.

Importantly, HSBC now excludes categories such as utilities, insurance premiums and education payments from miles earning.

GrabPay top-ups are also excluded, as are payments made through providers ipaymy or CardUp.

No, with this card you’ll actually accrue ‘HSBC Rewards points’, both for the sign-up bonus and for your spending. These transfer to KrisFlyer miles at a 2.5:1 ratio, so for $10,000 of local spending in the first year of card membership, you’ll net 25,000 HSBC Rewards points, which can be converted to 10,000 KrisFlyer miles.

With most credit cards in Singapore you’ll pay a transfer fee, typically $25, each time you convert your points into an airline frequent flyer programme.

With HSBC it’s slightly different. You’ll instead pay an annual fee of $40+GST (i.e. $43.20) to enrol in the HSBC Mileage Programme. You are then be free to make unlimited transfers to KrisFlyer throughout the year.

If you’re the kind of person who likes to top up several times a year, this is typically more cost effective than with other cards. If you typically allow your points to accumulate and make an annual transfer into miles, you’re paying over the odds with HSBC for that single transfer.

Alternatively, you can redeem 9,000 Rewards points for a waiver of the Mileage Programme fee. Since 9,000 points converts into 3,600 KrisFlyer miles, which we approximately value at $68, this makes little sense and you should instead be paying the $43.20 fee to enrol.

You have to complete and send an enrolment form, which is a little archaic, to join the HSBC Mileage Programme. You can find a link to the form here.

Singapore Airlines KrisFlyer and Cathay Pacific Asia Miles. The same earning rate, transfer cost, and minimum transfer ‘blocks’ (see below) apply if you choose to credit to Asia Miles.

The minimum volume of miles you can transfer into KrisFlyer or Asia Miles is 10,000 (i.e. 25,000 HSBC Rewards points). Thereafter they must then be transferred in blocks of 10,000.

Previously, HSBC allowed smaller transfer blocks in 2,000-mile increments (i.e. 5,000 HSBC Rewards points), however this is no longer possible.

HSBC Rewards points should reflect in your account once the transaction posts, which takes anywhere between one and three days.

You won’t have to wait until your monthly statement for the points to be added, so if you’re making a purchase to achieve a short-term top-up they should be available to you within a few days.

Yes, points expire at the end of a 37-month period commencing from the month subsequent to the month in which such points were awarded.

That gives you three years and one month of validity. For example any points awarded in February 2020 will expire on 31st March 2023.

Once you transfer to KrisFlyer miles, your points will have a further three-year validity. If you transfer into Asia Miles they will never expire, under the scheme’s new policy since January 2020 that provided you earn or redeem at least 1 Asia mile every 18 months, all your miles will remain intact.

This can be achieved by a simple transfer of NTUC LinkPoints to Asia Miles, if necessary.

If you earn HSBC Rewards points through another of the bank’s credit cards, such as the HSBC Revolution, be aware that your points balance for each card is independent and will not be pooled together into a single balance for you to redeem from.

If you cancel your Visa Infinite card, any HSBC Rewards points accrued but not redeemed will be forfeited, they cannot be transferred to your Revolution card in this example.

HSBC states that “approximately three weeks is required to process the transfer of miles from a credit cardholder’s account to the credit cardholder’s personal frequent flyer account.”

In reality HSBC actually completes transfers to KrisFlyer miles in weekly batches, so the longest you should be waiting is one week.

That’s still quite a long time if you need the miles to lock in an available redemption, or for short-term travel, with some other banks transferring points in one or two days.

Every eligible transaction you make using the HSBC Visa Infinite card is rounded (up or down) to the nearest Singapore dollar (after conversion from foreign currency if applicable), before HSBC Rewards points are then assessed.

Example:

• $20.49 rounds down to $20
• $20.50 rounds up to $21

The appropriate multiplier of HSBC Rewards points is then applied to the transaction, depending on its nature, rounded down to the next whole point.

Example (regular earn rate):

• $20 x 2.5 (local) = 50 points
  = 20 miles (1 mpd)
• $20 x 5.0 (overseas) = 105 points
  = 42 miles (2.1 mpd)

Example (Step up earn rate)

• $20 x 3.125 (local) = 62.5 points (rounded down to 62 points)
  = 24.8 miles (1.24 mpd)
• $20 x 5.625 (overseas) = 112.5 points (rounded down to 112 points)
  = 44.8 miles (2.24 mpd)

Since every amount you spend is rounded to the nearest dollar before HSBC Rewards points are accounted for, $0.50 is the minimum transaction amount in order to earn points.

That’s quite competitive in the market, with an increasing number of cards now only offering points for transactions of at least $5, including OCBC, UOB and Maybank.

The HSBC Visa Infinite card has a 2.8% foreign currency transaction fee, which is among the lowest on the market in Singapore.

With a relatively mundane regular overseas earn rate of 2 miles per dollar however, it’s certainly not the best card to use as it means paying 1.50 cents per mile when spending in foreign currency.

There are better cards than that for overseas spend, and you should be looking at the Standard Chartered Visa Infinite or UOB PRVI Miles for better rates, not just in cost per mile terms but miles per dollar too.

A possible exception is the ‘step up rate’ on the HSBC Visa Infinite card, applicable from year two and requiring at least $50,000 of spend in the previous year. In this situation you are paying 1.33 cents per mile for foreign currency spend, a much more competitive rate.

Cost per mile on overseas transactions (general spend cards)
(Best to worst, January 2023)

Card	Fee	Miles per $	Cost per mile
SCVI	3.5%	3.0*	1.22¢*
HSBC VI (Step up rate)	2.8%	2.25**	1.33¢**
UOB PRVI Miles	3.25%	2.4	1.43¢
Maybank Horizon Visa	2.75%	2.0	1.48¢
HSBC VI (Regular rate)	2.8%	2.0	1.50¢
OCBC Voyage	3.25%	2.2	1.56¢
KF Ascend (Jun & Dec)	2.95%	2.0	1.57¢
DBS Altitude Amex	3.0%	2.0	1.60¢
OCBC 90oN MC	3.25%	2.1	1.63¢
DBS Altitude Visa	3.25%	2.0	1.71¢
OCBC 90oN Visa	3.25%	2.0	1.71¢
Citi PM	3.25%	2.0	1.71¢
X Card	3.5%	2.0	1.83¢
KrisFlyer UOB	3.25%	1.2	2.86¢

* 3 mpd earn rate for the SCVI card is subject to a minimum spend of $2,000 (any currency) in the same statement cycle.
** Step up earn rate for HSBC VI is only applicable from year 2 of card membership onwards, provided you spent at least $50,000 in the previous year.

Cost per mile also accounts for an additional 0.3% ‘spread’ over money changer currency rates, though this doesn’t apply to all banks and all foreign currencies, so is a worst-case scenario.

If you’re holding a specialised 4 mpd card, like the DBS WWMC, you will of course be able to achieve much better cost per mile for transactions in foreign currency, provided you are spending within the card’s eligible categories and monthly spend cap.

There are a variety of rewards other than airline miles you can use your HSBC Rewards points for, though as usual they all represent much poorer value.

We know that 2.5 HSBC Rewards points can be converted into 1 KrisFlyer mile, which we value at 1.9 cents each, so that’s approximately 0.76 cents value per HSBC Rewards point when used this way.

Other transfer options are largely for shopping and retail vouchers, for example a $20 Dairy Farm voucher (for use at Cold Storage, Giant, Guardian and others) will set you back 7,000 HSBC Rewards points.

The same number of points should be getting you 2,800 KrisFlyer miles (or Asia Miles), worth about $50. You should not be using your HSBC Rewards points for anything other than KrisFlyer miles or Asia Miles transfers.

However, some of these alternative redemption options can be useful ways to ‘cash out’ of the scheme, for example prior to cancelling the card, if you fall below one of the airline miles redemption thresholds.

The HSBC Visa Infinite card comes ready-linked to an unlimited LoungeKey account for worldwide airport lounge access. When you visit a participating lounge, simply show your credit card, a valid boarding pass and quote ‘LoungeKey’ to the reception staff for free access.

LoungeKey is effectively a subset of Priority Pass (both are owned by UK-based Collinson International), however you cannot buy LoungeKey access – it is always linked to your credit card. There is therefore no membership card required.

Both primary and supplementary cardholders are eligible for free access, whether travelling together or separately.

Pro Tip: Even if your supplementary cardholders aren’t going to do any spending on the card, you can get up to five supplementary cards for free and each comes with its own built-in unlimited LoungeKey allowance.

There is no guest allowance, so if you bring guests into the lounge with you an additional fee is charged to your card at a rate of US$32 per guest.

Over 1,100 lounges are included in the program, including all the usual third-party options at Singapore Changi Airport, and you can search the full lounge list here.

The closest comparison to this level of LoungeKey access is the Priority Pass Prestige membership level (unlimited free member visits, US$35 fee for guests). That membership is regularly priced at US$469 (around $620), however promotional offers are regularly available.

A nice benefit for HSBC VI cardholders is the ability to also earn 1% cashback on spend with the card, in addition to air miles, for those with an HSBC Everyday Global Account (EGA).

This requires you to fund your EGA account with the following minimum monthly deposits:

• For HSBC Personal Banking members: $2,000/mth
• For HSBC Premier and Jade members: $5,000/mth

Provided at least five transactions are made on the card each month, 1% cashback is then awarded on all eligible spend with the HSBC VI card (i.e. all transactions that also earn miles, but not excluded transactions outlined earlier), capped at the following monthly levels:

• For HSBC Personal Banking members: $300/mth
• For HSBC Premier and Jade members: $500/mth

In other words these EGA account holders will earn both miles and cashback for the first $30,000 of eligible spend (HSBC Personal) or the first $50,000 of eligible spend (HSBC Premier / Jade) each month.

For those who can utilise this benefit, it actually goes some way to offsetting the card’s relatively lacklustre miles earning rates.

For example, if you spend $5,000 per month in eligible transactions, and you value a mile at 1.5 cents each, $50 cashback per month is effectively “worth” an extra 3,333 miles a month (you would also get at least 5,000 miles for the $5,000 spend itself in this case).

For regular travellers one of the most valuable perks of the HSBC Visa Infinite card in Singapore is an allocation of complimentary one-way limo rides to Changi Airport. We have a full rundown of which credit cards provide this service, but it’s safe to say the HSBC offer is the most generous.

Believe it or not, HSBC used to offer completely unlimited airport transfers for holders of its Visa Infinite card, with a spend of at least $5,000 per quarter.

That benefit was replaced with the current deal in late 2016, however this still arguably provides the best offer on the market – an airport limo transfer for every $2,000 spent on the card.

HSBC provide you with 2 complimentary airport rides at the start of each calendar year, with 4 such rides for HSBC Premier customers, or when you first sign up for the card, with no minimum spend requirements.

After that you’ll earn a complimentary transfer to Changi airport for every $2,000 spent on your card in a single calendar month. You are able to utilise these transfer(s) from the start of the following month through to the end of the calendar year.

Eligible transactions for this spend are the same as for miles earning, as described earlier in the review.

You can earn up to 24 complimentary transfers per year, inclusive of those provided at the start of the year (with no minimum spend requirements).

Complimentary rides cannot be carried into the following calendar year, with the exception of those earned in December, which can then be used in the subsequent calendar year.

You must book at least 24 hours prior to the pickup time with a valid flight departing from Singapore Changi Airport. Wolero, the provider of this service, has an online booking system.

2 guests of the primary cardholder can accompany you, provided that they are travelling on the same flight. Each primary cardholder can only have one outstanding booking for this service at any time.

Vehicle type is a Mercedes-Benz E-Class or Audi A6. There is an additional $12 midnight surcharge for rides between 12am and 6am, and a $10 surcharge for pickups from Sentosa Island, Jurong Island and Tuas South. These surcharges are payable in cash to the driver.

Last minute cancellation fees also apply. Full terms and conditions are available here (see section 17), with frequently asked questions also available here.

In a similar fashion to the complimentary one-way limo ride, HSBC provide you with 2 expedited immigration clearances at the start of each calendar year, with 4 such benefits for HSBC Premier customers, or when you first sign up for the card.

After that, you’ll also earn a complimentary expedited immigration clearance at one of a range of participating airports for every $2,000 spent on your card in a single calendar month.

Eligible transactions for this spend are the same as for miles earning, as described earlier in the review.

You are able to utilise these transfer(s) from the start of the following month through to the end of the calendar year and again you can earn up to 24 expedited immigration clearances per year, inclusive of those provided at the start of the year (with no minimum spend requirements).

A full list of participating airports is available here. It includes popular local destinations like Bali, Bangkok and Phuket – so this can be quite a useful perk.

HSBC Visa Infinite cardholders are entitled to up to 50% off dining at selected hotel restaurants in Singapore:

• Marriott Tang Plaza
  including Wan Hao Chinese restaurant and Crossroads Cafe
• Fairmont Singapore / Swissotel The Stamford
  including Mikuni, Prego, CLOVE, Kopi Tiam, Asian Market Café and The Eight
• Goodwood Park Hotel
  including Gordon Grill, Min Jiang, Min Jiang at Dempsey and Coffee Lounge

The discount is structured as follows:

• 25% off total food bill when dining alone
• 50% off total food bill when dining with 1 guest
• 33% off total food bill when dining with 2 guests
• 25% off total food bill when dining with 3 guests
• 20% off total food bill when dining with 4-10 guests

You must charge your bill to your HSBC Visa Infinite credit card, and in some cases advance reservation is required.

The Marriott offer runs until 31st December 2023, while for the other hotels the deal ends one day earlier, on 30th December 2023.

See the full terms and conditions for details:

 HSBC VI Marriott Dining
 HSBC VI Goodwood Park Dining
 HSBC VI Fairmont / Swissotel Dining

The HSBC Visa Infinite gets you access to Standard and Premier ENTERTAINER privileges via a smartphone app, with a range of 1-for-1 offers on dining, lifestyle and hotels across Singapore and many other popular destinations like London and Bali.

Some of the key additional benefits with the HSBC Visa Infinite card which will be of most interest to our readers are:

• Comprehensive HSBC Life travel insurance when your trip is paid using your HSBC Visa Infinite card, including trips that you’ve paid jointly with your HSBC Visa Infinite card and any air miles redemption. COVID-19 coverage is included. Full policy wording is here.
• 24/7 dedicated concierge service for hotel bookings, spa or dining appointments, etc.
• 35% off all spa treatments at Willow Stream Spa at Fairmont Singapore, with complimentary day pass, which includes use of the swimming pool, spa facilities and gym, and 2 hours complimentary parking.
• Golfing privileges including 50% off green fees at 50 South East Asian golf clubs and complimentary weekday green fees at Sentosa Golf Club.
• Visa’s Luxury Hotel Collection, as a Visa Infinite cardholder. This includes automatic room upgrade where available, complimentary breakfast and a US$25 food and beverage credit.

The HSBC Visa Infinite card can be used for contactless transactions, and can be added to Apple Pay or to Google Pay.

You can also download the HSBC Singapore app and use it as a virtual card on your mobile phone.

Here are links to the full terms and conditions applicable to the HSBC Visa Infinite card and the HSBC Rewards programme.

 HSBC Visa Infinite T&C
 HSBC Rewards Programme T&C

The HSBC Visa Infinite card comes with a hefty price tag at $660 per year, but has some nice benefits for the money.

First up is the 35,000 miles welcome bonus, worth close to the annual fee itself if used wisely. After that regular travellers will be able to take advantage of a generous allocation of complimentary one-way airport limo rides, expedited immigration clearance at selected airports, and unlimited lounge access.

The downside is the poor miles earning rate, both locally and overseas. If you spend $75,000 on this card in the first year of membership, you’ve already lost out on 30,000 additional miles you could have earned with the UOB PRVI Miles card replicating the same spending pattern.

The next issue is keeping this card into year two. Assuming you pay $660 in year 1 primarily for the sign-up bonus, that is now gone in the second year with no regular recurring miles bonus offered.

That means even if you spent more than $50,000 on this card in the first year, in order to generate the ‘step up miles’ rate in year 2, those rates are still nothing to write home about. You’ll be earning an inferior rate to several more accessible credit cards, and having to justify $660 a year for unlimited lounge access, plus some limo rides, dining discounts and expedited immigration clearances.

We can’t see that being a good proposition for most of our readers, so for us this is a card to get for its first year benefits, then ditch before the second year annual fee is payable.

Our Rating

3 / 5 among high income general spend cards

HSBC Visa Infinite APPLY HERE

How we rate credit cards Best in class: A must-have for the miles earner in Singapore Excellent: A leader in its category with few if any downsides Very good: Drawbacks largely outweighed by the positive aspects Good: Useful benefits despite some poor features vs. other cards Average: Worth considering but not an essential addition to your wallet Conflicted: Some benefits but much better cards exist in the same category Poor: Few benefits worth having Very poor: Almost no benefits, not recommended Awful: Not worth considering

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(Cover Photo: Shutterstock)