HSBC Red Mastercard review, fees and requirements
Points on dining, shopping and online spend, first year free. From year two the annual fee applies unless you get a waiver.
Card image: HSBCBenefits of the Red Mastercard
From HSBC’s own card page.
- 4× bonus points on online, dining, shopping and overseas spend
- 1 bonus point for every ₱20
- No annual fee the first year
Points on dining, shopping and online spend, first year free.
From year two the annual fee applies unless you get a waiver.
What it costs
- Annual fee
- ₱2,500/yrFree the first year (HSBC)
- Supplementary card
- Ask the bank
- Interest
- Up to 3% a month (BSP cap)Only if you don’t pay the full balance by the due date
- Late payment
- Ask the bank
- Cash advance
- Ask the bankPlus interest from day one
- Foreign currency
- Ask the bank
What HSBC asks for
- Gross income of about ₱33,333 a month (₱400,000 a year)
- No existing credit card needed
- A valid government ID and proof of income (payslips, COE or BIR Form 2316; ITR if self-employed)
- Age 21 or older is the usual rule for principal cardholders; check the bank’s form
Approval is the bank’s call. Applying where your salary or savings already are helps.
Cards to compare with the Red Mastercard
Similar cards from other banks, and the next level up.
Points on online shopping and dining with a mid-level income rule.
- 1 point for every ₱20, points never expire
- 2× points on online, department store and dining spend
- Redeem for eGCs, miles or donations
- Annual fee
- Ask the bankWaived under a current Metrobank offer (listings); ask for the regular fee
- Income needed
- ~₱29,200/moMetrobank
The fee waiver is a promo. Ask whether it is for life or only the first year.
See it on Metrobank Partly from the bank · confirm the rest · November 2026A mid-tier card from Security Bank.
- Annual fee
- ₱2,500/yr
- Income needed
- ₱30,000/mo₱360,000 a year
Figures from a 2025 fee table; confirm with Security Bank.
See it on Security Bank From comparison listings · confirm with the bank · November 2026A step up from BPI Rewards with travel insurance and a higher limit.
- 1 BPI point for every ₱35, points never expire
- Up to ₱10 million travel insurance when you book with the card
- Annual fee
- ₱2,250/yr
- Income needed
- ₱40,000/mo₱40,000 a month
A higher limit is not more money. Keep spending to what you can pay in full.
See it on BPI From the bank’s own pages · November 2026
HSBC Red Mastercard: questions
₱2,500 a year for the principal card (Free the first year (HSBC)). Many banks waive it if you ask, use the card regularly or redeem points.
About ₱33,300 a month (₱400,000 a year), as published by HSBC. Banks also look at your credit record and existing cards.
It can be, if your income clears the rule, but most people start with a no-fee card and move up after 6 to 12 months of paying in full.
4× bonus points on online, dining, shopping and overseas spend, per HSBC’s own page. Rewards only pay off if you pay the full balance every month; card interest is up to 3% a month.
How this page works. Figures come from HSBC’s own pages and, where the bank doesn’t publish them, comparison listings, checked November 2026. Banks change fees and rules and decide approvals case by case, so confirm on HSBC’s page before you apply. If the button above is a partner link it says so; PesoPilot may earn a fee when an application is approved, at no cost to you, and it never changes what we say about a card. Educational, not financial advice.