The Best Ways to Redeem 100,000+ HSBC Rewards Points

RBC is in the midst of finalizing its acquisition of HSBC Canada, and it’s expected that existing HSBC Canada cardholders will be fully transitioned into the RBC ecosystem by the end of March 2024.

As part of the acquisition, HSBC Rewards points will be converted to RBC Avion points, and it’s supposed to be for comparable value. However, RBC has been mum on the conversion rate thus far, and we don’t yet know if it’s better to wait for the conversion or to redeem your HSBC Rewards points before it happens.

If you have a stash of HSBC Rewards points in your account, it’s worth taking stock of all options at this point, in case the ratio doesn’t wind up being favourable, or if you want to redeem your points for a predictable value before the transition.

With the above in mind, here are some of the best ways to redeem 100,000+ HSBC Rewards points.

Key Things to Know About Redeeming HSBC Rewards Points

HSBC Rewards points are a flexible points currency, in that you can redeem them in a variety of ways.

Depending on how you travel, you can either redeem them at a fixed value as a statement credit against any travel expense, or you can choose to transfer them to three airline loyalty programs.

Redeeming HSBC Rewards points against eligible travel purchases at a ratio of 200 points = $1 is generally seen as the “baseline” redemption option, giving you a value of 0.5 cents per point (cpp). 

In addition, you can potentially unlock better value than 0.5cpp by transferring HSBC Rewards points to one of three frequent flyer partners – British Airways Executive Club, Singapore Airlines KrisFlyer, and Cathay Pacific Asia Miles – and using those points strategically for high-value flight redemptions.

It’s worth noting that you also have the option of redeeming HSBC Rewards points for gift cards, merchandise, or deposits into HSBC chequing or savings accounts, but the value in doing so is poor, and so this avenue is generally not recommended.

Now, both baseline travel redemptions and frequent flyer conversions are subject to the following rules:

• A minimum of 25,000 HSBC Rewards points must be redeemed at once
• On top of the minimum amount, HSBC Rewards points may be redeemed in increments of 10,000 points

When we combine that with the following transfer ratios to Avios, KrisFlyer miles, and Asia Miles…

• 25,000 HSBC Rewards points can be converted into 8,000 Cathay Pacific…