Wow: HSBC Revolution enhances earn rate to 8 mpd, permanently restores travel and contactless bonuses

In July 2025, the HSBC Revolution Card received a major boost through the Revo Up promotion, which temporarily reinstated bonuses for travel and contactless spending, and boosted the monthly bonus cap by 50% to S$1,500.

This promotion was originally set to run until 31 October 2025, but was subsequently extended twice: first to 28 February 2026, and then again to 31 March 2026. Now, it looks like the party will continue for the foreseeable future — and get even better for some cardholders.

From 1 April 2026, the HSBC Revolution will earn up to 8 mpd for cardholders who maintain a S$50,000 average daily balance (ADB) in a HSBC Everyday Global Account (EGA). And even if you aren’t inclined to do so, HSBC is permanently restoring bonuses for travel and contactless spending. 

In addition to this, complimentary travel insurance will be reinstated, and the card will be upgraded to a Visa Signature. 

HSBC Revolution enhancements from 1 April 2026

Details

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HSBC Revolution cardmembers will be divided into two groups, from 1 April 2026:

• Regular cardholders
• Cardholders who maintain a minimum ADB of S$50,000 in a HSBC EGA SGD account (which is quite a mouthful, so I’ll refer to these as “Enhanced cardholders”)

Regular cardholders

For regular cardholders, the HSBC Revolution will continue to earn 4 mpd on bonus categories. However, the bonus cap will revert to S$1,000 per calendar month, down from the current S$1,500.

While I imagine there will be some disappointment about the reduced bonus cap, the good news is that bonuses for travel and contactless payments aren’t going anywhere. These will be restored as permanent bonus categories, a marked improvement from the pre-July 2025 situation where travel was excluded, and only online transactions were eligible for bonuses. 

💳 HSBC Revolution (Regular Cardholders)
	Till 31 Mar 26	From 1 Apr 26
Dining	4 mpd Online Contactless	4 mpd Online Contactless
Shopping	4 mpd Online Contactless	4 mpd Online Contactless
Transport & Membership Clubs	4 mpd Online Contactless	4 mpd Online Contactless
Travel	4 mpd Online Contactless	4 mpd Online Contactless
Bonus Cap	S$1,500 per c. month	S$1,000 per c. month

Enhanced cardholders

Here’s where things get really interesting. 

For enhanced cardholders, the HSBC Revolution will earn 8 mpd on bonus categories, capped at S$1,200 per calendar month.

There is no difference in bonus categories between regular and enhanced cardholders; the only difference is the earn rate and bonus cap.

💳 HSBC Revolution (Enhanced Cardholders)
	Till 31 Mar 26	From 1 Apr 26
Dining	4 mpd Online Contactless	8 mpd Online Contactless
Shopping	4 mpd Online Contactless	8 mpd Online Contactless
Transport & Membership Clubs	4 mpd Online Contactless	8 mpd Online Contactless
Travel	4 mpd Online Contactless	8 mpd Online Contactless
Bonus Cap	S$1,500 per c. month	S$1,200 per c. month

Here’s the important thing to understand: your status depends on the ADB in your HSBC EGA SGD account for that particular calendar month. In months where it’s above S$50,000, you’re considered “enhanced”, and entitled to the boosted earn rate and cap. In months where it’s below S$50,000, you’re considered “regular”, and the normal rules apply.

Do note that deposits in joint accounts will not be taken into account for the purpose of computing the ADB. It must be a sole HSBC EGA account.

Also, the only thing that matters is ADB in a HSBC EGA SGD account. If you’re a HSBC Premier customer who has AUM in equities, funds, fixed deposits, insurance etc., that’s great. But, at the risk of repeating myself, the only AUM that will help you meet the requirement is ADB in a HSBC EGA SGD account.

Terms & Conditions

The revised T&Cs for the HSBC Revolution, which take effect from 1 April 2026, can be found here.

Is it worth keeping funds in the EGA?

It should be obvious that the HSBC Revolution’s revised reward structure is intended to nudge people towards the EGA.

The incremental reward for an enhanced cardholder is 13,800 HSBC points per month (22,800 – 9,000). But those extra points aren’t free, because of the requirement to deposit at least S$50,000 in an EGA.

Now, it’s tricky to make direct comparisons between the HSBC EGA and other high-yield savings accounts because the EGA rewards incremental balances, rather than total balances.

HSBC EGA promotions change every month, and the current promotion for March 2026 is structured like this:

EGA customers will earn the prevailing base interest of 0.05% p.a., plus bonus interest of 1.75% p.a. (with wealth holdings) or 1.60% p.a. (without wealth holdings) on incremental ADB for the months of March, April, May and June 2026.

HSBC will use February 2026 as the reference month to determine how much your ADB has grown, and bonus interest will be paid on incremental funds of up to S$5 million. For example, if your ADB grew from S$10,000 in February 2026 to S$200,000 in March 2026, then the ADB eligible for bonus interest would be S$190,000.

Bonus interest will be calculated monthly on a simple interest basis and paid out by 31 August 2026.

On top of this promotion, EGA customers can earn an extra 1% p.a. bonus interest on incremental ADB through the Everyday+ Rewards programme. To qualify, they must satisfy both conditions below.

• Deposit fresh funds via salary crediting or inward transfers from a non-HSBC account
  • Personal banking: S$2,000 minimum
  • HSBC Premier: S$5,000 minimum
• Make at least five eligible transactions with an Everyday Global Debit Card or any HSBC credit card

If your brain turned to mush reading all that, I don’t blame you. Mine did too, and I’ve not even gotten into the tricks that some customers use, like emptying their account on alternate months to maximise the returns.

All this to say: for this to make sense, the value of the incremental points + return on the EGA needs to be more than what you could have earned on the S$50,000 elsewhere. 

If we take Accor points as our frame of reference (5 HSBC points : 1 Accor point), then 13,800 points are worth roughly S$80 — though I could certainly see an argument being made for a higher valuation, depending on which programme you cash out to. As for the actual EGA return, and what you could have earned elsewhere, I’ll let you calculate that yourself!

The HSBC Revolution + EGA pairing has obvious parallels to the UOB Lady’s Card and Lady’s Savings Account (LSA) combination, which offers an extra 2 mpd for maintaining a monthly average balance of S$10,000.

I don’t think there’s a clear winner here — it really boils down to how you value the trade-off between miles and interest. 

Complimentary travel insurance restored

The HSBC Revolution removed its complimentary travel insurance policy in April 2025, but is reinstating it again, one year later. 

From 1 April 2026, HSBC Revolution will offer complimentary travel insurance coverage to cardmembers who:

• Purchase air tickets with their credit card, or
• Redeem air tickets with their miles, and use their credit card to cover the taxes and surcharges

The actual policy has not been uploaded yet, but HSBC has told me that the coverage will be similar to that provided for the HSBC Advance, which means:

• Emergency medical evacuation and repatriation: S$1M
• Accidental death or total and permanent disablement: S$500,000
• Trip cancellation: S$2,000
• Travel delay: S$500
• Luggage loss: S$500
• Luggage delay: S$200

It’s decent basic coverage, though you’ll definitely want to supplement it with something else to cover overseas medical expenses and personal liability.

Upgrade from Visa Platinum to Visa Signature

The sharp-eyed amongst you might have spotted another change from the card art: from 1 April 2026, the HSBC Revolution will be upgraded from a Visa Platinum to a Visa Signature.

You may remember that the UOB Preferred Visa received a similar upgrade recently, but as I said at the time, there isn’t much to get excited about here. The main incremental benefits of Visa Signature over Visa Platinum are:

• A fast-track to Avis President’s Circle status
• Access to the Visa Signature Luxury Hotel Collection, which includes additional benefits like complimentary breakfast and room upgrades

What’s more, you probably have a Visa Signature already, such as the DBS Altitude Visa, Maybank Horizon Visa Signature or UOB Visa Signature.

For the avoidance of doubt, the tier upgrade will also apply to existing HSBC Revolution cards. There is no need to wait for your card to be replaced; the BIN (card number) will automatically be recognised as part of the Visa Signature range from April onwards.

How are bonus categories defined?

Here’s a reminder of how the HSBC Revolution defines each bonus category.

Dining

Do note that MCC 5814 (Fast Food) is not included. Even if you’re no fan of junk food, this MCC can pop up in unexpected places like Shin Katsu, PS Cafe and Marche. Furthermore, food delivery platforms like GrabFood and Food Panda can switch between MCC 5812 and MCC 5814, so using the Revolution for these is risky.

Shopping

Transport & Membership Clubs

Travel

Do note that MCC 4722 (Travel Agencies) is not included, so online travel agencies like Airbnb, Expedia, Hotels.com, Pelago, Klook, KKday and Trip.com will not be eligible for the bonus.

What can you do with HSBC points?

HSBC points can be transferred to 20 airline and hotel partners, at the ratios shown in the table below.

✈️ HSBC Airline Partners
Frequent Flyer Programme	Conversion Ratio (HSBC Points : Partner)
	50,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	35,000 : 10,000
	30,000 : 10,000
	30,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000
	25,000 : 10,000

🏨 HSBC Hotel Partners
Hotel Programme	Conversion Ratio (HSBC Points : Partner)
	30,000 : 10,000
	25,000 : 5,000
	25,000 : 10,000
	25,000 : 10,000

The crucial thing to understand is that not all partners share the same transfer ratio. Therefore, the effective earn rate depends on the partner you choose.

For example, the earn rates of 8 mpd I’ve mentioned only apply if you choose a partner with a 25,000 points = 10,000 miles transfer ratio, like British Airways Executive Club or EVA Air Infinity MileageLands. If you choose KrisFlyer, where the ratio is 30,000 points = 10,000 miles, then the earn rate is 6.66 mpd. That’s still not bad, mind you!

All conversions must be done via the HSBC Singapore app (Android | iOS) and are processed instantly, with the exception of the following:

• Hainan Fortune Wings Club: Within 5 business days
• Japan Airlines Mileage Bank: Within 10 business days

Conversions are free of charge until further notice, and HSBC points are pooled across cards. 

While the minimum transfer block is 10,000 miles/points (Accor: 5,000 points), the subsequent block is just 2 miles (Accor: 1 point). In other words, you could choose to transfer 10,002 miles or 20,958 miles, which helps you avoid orphan points. 

Conclusion

Apply

HSBC Revolution cardmembers can look forward to some significant enhancements from 1 April 2026, with bonuses for travel and contactless spending permanently restored. While the monthly bonus cap will revert to S$1,000 for regular cardholders, those who maintain S$50,000 in a HSBC Everyday Global Account will enjoy 8 mpd on up to S$1,200 per month.

This is a fantastic return by any means, even with the cap. Over the course of a year, that’s 115,200 miles with EVA Air Infinity MileageLands, or 82,286 miles with Aeroplan. I can think of a lot of exciting uses for those miles.

With its instant, fee-free conversions, 20 transfer partners and no annual fee, there’s plenty to like about the new-and-improved HSBC Revolution.