HSBC +Rewards™ Mastercard® Review

HSBC +Rewards™ Mastercard®

Rates and Fees Information Box

Annual Interest Rates	These interest rates are in effect on the day your HSBC Mastercard account (“Account”) is activated.     Purchases and fees: 11.9% Cash Advances including Quasi-cash transactions: 11.9% Balance Transfers: 11.9% Cheques: 11.9% If you do not pay the Minimum Payment in full by the due date on your Account statement two billing periods in a row (the “first” and “second” billing periods), your interest rates in effect at the end of the third billing period will increase by 5% per year. The increased rates will apply on the first day of the fourth billing period and will continue to apply until you qualify for a rate decrease. If you pay the Minimum Payment in full by the due date on your Account statement six billing periods in a row (the “first” through “sixth” billing periods), your previously increased rates in effect at the end of the seventh billing period will decrease by 5% per year. The decreased rates will apply on the first day of the eighth billing period. Example: Your billing periods end on the last calendar day of each month and your Minimum Payments become due on the 22nd calendar day of each month. If you miss or are late to make Minimum Payments that become due in December and January, your rates in effect on the last day of February will go up by 5% per year starting on the first day of March. An annual interest rate of 11.9% will increase to 16.9%. If you pay each Minimum Payment that becomes due in March through August in full and on time, your previously increased rates in effect on the last day of September will decrease by 5% per year starting on the first day of October. An annual interest rate of 16.9% will decrease to 11.9%.
Interest-free Grace Period	21 days You will benefit from an interest-free grace period on new Purchases and fees of at least 21 days if you pay off your balance in full by the due date. There is no interest-free period on Cash Advances including Quasi-cash transactions, Balance Transfers and Cheques. Interest begins to accrue on Purchases, Cash Advances including Quasi-cash transactions, and fees from the date of the transaction and on Balance Transfers and Cheques from the date posted.
Minimum Payment	Your minimum payment is the greater of $10 and 5% (if you reside in Quebec) or 3% (if you reside outside Quebec) of the total outstanding amount (rounded to the next dollar), plus all past due amounts and amounts over your credit limit. If the total outstanding amount is less than $10, then the Minimum Payment is equal to the total outstanding amount.
Foreign Currency Conversion	2.5% We will bill you in Canadian currency if you use your Account to make transactions in foreign currency. If you make (or return) transactions in a foreign currency, we convert the amount to Canadian dollars at the conversion rate that is 2.5% above a benchmark foreign currency exchange rate determined by Mastercard that is in effect and that we must pay on the date we post the transaction to the Account. This rate may be different from the rate in effect on the date you made the transaction.
Annual Fees	Primary card fee: $25 Supplementary card fee: $10 for each Authorized User on your Account. You may have up to four Authorized Users on your Account. The annual fees will be charged on the first statement date after the card is issued (regardless of activation) and annually on the anniversary of your account. If you add an Authorized User after your card is first issued, a pro-rated supplementary card fee will be charged on the first statement date after the supplementary card is issued (regardless of activation). The amount of the fee will be pro-rated for the number of months remaining between the day the fee is charged and the next anniversary of your account. After that, as long as the card remains issued, a $10 supplementary card fee will be charged for that card annually on the anniversary of your account.
Other Fees	To be charged on the date of the transaction: Cash Advance fees (does not apply in Quebec): Automated Teller Machine (ATM) displaying the Mastercard or Cirrus® symbol – ATM in Canada – $2; ATM outside Canada – $4 Over-the-Counter (in Branch) at a Mastercard Financial Institution – In Canada – $3; Outside Canada – $5 Wire transfers, travelers cheques, foreign currency, money orders, payment of an existing debt, bets, lottery tickets and casino gaming chips (referred to as “Quasi-cash transactions”; fee does not apply in Quebec): $4 To be charged on the date the transaction is posted: Charge for dishonoured payment or dishonoured Cheque (does not apply in Quebec): $25 Cheque fee – for Cheques written to a merchant outside Canada (does not apply in Quebec): $5 Extra copy of your monthly statement or sales slip: $0 Promotional Offer Balance Transfer fee (does not apply in Quebec): Up to 5% of the Balance Transfer amount. We charge this fee when we offer a promotional interest rate on Balance Transfers for a specified period which is lower than the annual interest rate that applies to Balance Transfers to your Account. We may waive or lower this 5% fee at the time the promotional interest rate offer is made to you. We do not charge Balance Transfer fees outside of promotional offers. Rush card or PIN replacement fee: for courier delivery within Canada: $25 To be charged on the statement date: Over the credit limit fee – if your balance exceeds your assigned credit limit during the statement period (the fee does not apply in Quebec): $29

We may change the interest rates and fees from time to time. Please read the Cardholder Agreement for more information.

Optional Insurance

Travel and Medical Insurance*	Fee
Please refer to the Travel & Medical Insurance Summary for additional information about this product.	The annual premium is $69, and includes applicable taxes. The premium will be billed to your Account when you enrol and annually at renewal.

INFORMATION ABOUT THE OPTIONAL INSURANCE: If you enrol in any optional products, you may cancel at any time and we will issue a pro rated refund of the unearned portion of any premium that you have paid (as a credit to your Account). To cancel, you may contact HSBC Mastercard Customer Care at the number on the back of your HSBC Mastercard.

Travel and Medical Insurance Summary

Information before you apply

Travel and medical insurance can provide you with coverage in the following situations:

• a medical emergency happens during the first 17 days of your trip
• your trip is cancelled (before you depart)
• your trip is delayed (after you depart)
• your baggage is lost or delayed

This insurance is available to the Primary Cardholder with an HSBC Mastercard, as an option (for a fee), as long as you are under age 65. This insurance does not cover any person 65 years of age or older. This insurance covers the Primary Cardholder and where applicable his/her Spouse and Dependent Children.

Emergency travel medical insurance does not apply to travel in Cuba.

Emergency travel medical, trip cancellation, trip interruption, and baggage delay or loss insurance are subject to limitations and exclusions as stated in the Certificate of Insurance. The Certificate of Insurance is sent to the Primary Cardholder at the time of enrolment (and is available at www.hsbc.ca). Please read the Certificate of Insurance for full details, including the complete list of limitations and exclusions.

Emergency travel medical insurance

This insurance covers eligible medical expenses which arise due to a medical emergency. For example, eligible medical expenses may include: emergency hospital, ambulance and medical expenses; private duty nursing expenses; emergency air transportation or evacuation; professional services; emergency dental expenses; transportation to the bedside; return of deceased; additional hotel and meal expenses; and return of vehicle.

Emergency travel medical insurance automatically applies to the first 17 days of a trip. You and your spouse (under age 65 at the time of departure) are insured, as well as your dependent children while traveling with you or your spouse, to a maximum of $1,000,000 per person. It does not cover expenses arising from:

• a medical emergency while travelling in Cuba
• pre-existing conditions or ignoring the recommendation of a doctor
• any other limitations and exclusions stated in the Certificate of Insurance.

Each insured person must be a permanent resident of Canada and covered by a provincial or territorial Government Health Insurance Plan. This insurance only covers amounts greater than the expenses covered by your Government Health Insurance Plan or any other insurance or reimbursement program. Coverage stops once your condition is stable or you can return to Canada for treatment.

Trip cancellation insurance

If you or your spouse (under age 65) is required to cancel a trip due to a covered cause, you will be reimbursed eligible expenses to a maximum of $2,000 per Account. For example, a covered cause occurs if:

• you, your spouse, an immediate relative, or your travel companion become sick, injured, or dies
• involuntary job loss
• default of your travel provider
• extreme weather delay

Coverage starts from the time you purchase a trip and ends at the trip’s scheduled departure time.

Trip interruption insurance

While on a trip, if you or your spouse (under age 65) is required to change your scheduled return date to a later date due to a covered cause, you will be reimbursed the extra cost of one-way economy airfare to a maximum of $2,000 per Account. For example, a covered cause occurs if you, your spouse, an immediate relative or travel companion accidentally die, or become sick or injured, and the attending physician recommends a travel delay.

Coverage starts after the scheduled departure date and lasts until the scheduled return date.

Baggage delay or loss insurance

If baggage, including personal contents, is lost or damaged during a trip, you will be reimbursed to a maximum of $750 per insured person (and maximum of $500 per item). This coverage also includes up to $200 for the purchase of necessities required by a delay of your checked-in baggage of 12 hours or more. This insurance does not cover certain types of loss or damage. For example, it does not cover:

• loss or damage due to normal wear and tear
• confiscation of your luggage by authorities
• loss or damage to certain items (such as contact lenses, cell phones, computers, jewellery or camera equipment contained in your checked-in baggage, and business equipment or materials).

Paying for your trip with your HSBC Mastercard. To receive coverage for trip cancellation, trip interruption, and baggage delay or loss insurance, you must charge at least 75% of the eligible expenses for your trip (such as transportation, hotel or package tour costs) with your HSBC Mastercard Account.

Term of insurance. The effective date of insurance coverage is the date of enrolment set out in the Letter of Confirmation we send at the time of enrolment. Coverage ends at the earliest of the following:

• the date the Insured Person ceases to be eligible for coverage;
• the date the Primary Cardholder reaches age 65;
• the date the Policy terminates;
• the date your notice of cancellation is received by the Insurer or HSBC; and
• the date the HSBC Mastercard account is cancelled, closed, or not in good standing.

How much insurance costs. The annual premium is $69, including applicable taxes. We may change the premium and we will tell you at least 30 days in advance. The premium is charged to your Account when you enrol and at each annual renewal.

Misrepresentation. The certificate will be void if at any time you conceal or misrepresent any material fact or circumstance concerning this coverage, your interest in this coverage, or any fraud or attempted fraud.

If you wish to cancel. You may cancel coverage at any time and receive a prorata refund of the unused premium (as a credit to your Account). If you cancel within the first 30 days, any premium paid will be credited to your Account and coverage will be void. Cancellation is effective on the date your notice of cancellation is received by the insurer or HSBC.

To make a claim (if you enrol). Call 1-800-668-8680 from Canada or the US, or 416-977-6066 collect from anywhere else in the world and you will be sent a claim form.

Privacy. The insurer may collect, use, and share personal information provided by you to the insurer, and obtained from others with your consent, or as required or permitted by law. The insurer may use the information to: serve you as a customer and communicate with you. The insurer may process and store your information in another country, which may be subject to access by government authorities under applicable laws of that country. You may obtain a copy of the insurer’s privacy policy by calling 1-888-778-8023 or from their website: www.assurantsolutions.ca/privacy. If you have any questions or concerns regarding the privacy policy or your options for refusing or withdrawing this consent, you may call the Insurer at the number listed above.