HSBC has just introduced a new card called the HSBC Weekend Card. It is a cash back credit card but with a new twist :

This is how it works. If you use the card on weekends (ie Saturdays and Sundays), then you will earn 2% rebates on your weekend purchases. When you use your card on regular weekdays (ie Monday through Friday), you will earn 1% rebates. Furthermore, you can earn unlimited rebates with this card and the rebate points do not expire.

This is the first cash rebate card of this sort and I think the idea is pretty novel. It gives those who tend to do their grocery shopping or any other type of shopping over the weekend a great way to earn higher cash rebates than a regular credit card.

However, I think it is best to use this card in combination with another card that pays a higher rebate on certain types of expenses. For example, the Chase Freedom Card pays 3% rebates on gasoline and supermarket purchases. Hence, it would be a great idea to combine these two cards.

Some of you (especially stay at home moms) will tend to do your groceries and other shopping during the weekday. So this card will probably not suit you if you are not a weekend shopper.

Kudos to HSBC for coming up with such a novel idea. It gives a new twist and meaning to “Frugal Weekend Shopping”!

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