topic Re: Rumored HSBC Card Changes in Credit Cards

Rumored HSBC Card Changes

Kylo — Tue, 05 May 2020 01:00:36 GMT

Hey all, this is mostly conjecture but I wanted to share what I've learned and see if we can spark any more conversation.

I saw a post here a week or so ago from someone claiming that an HSBC rep alluded to upcoming card changes. I'm exploring a relationship with HSBC for an unrelated reason, but while I was on the phone with a rep I figured I would ask.

For starters, he said he has "no concrete information to share" with me. With that being said, he seemed like he was talking around something the whole call. He mentioned the $395 fee for the WEM as it related to someone's status with HSBC, and saying "it would be nice to see some improvement there." He also suggested that I wait until the start of q3 before applying for any cards.

Has anyone else heard something along these lines?

Re: Rumored HSBC Card Changes

Anonymous — Tue, 05 May 2020 01:12:35 GMT

I have not heard anything.

Re: Rumored HSBC Card Changes

Anonymous — Tue, 05 May 2020 01:36:00 GMT

I read something about Amex, but not HSBC.

Re: Rumored HSBC Card Changes

Anonymous — Wed, 06 May 2020 02:11:58 GMT

I watched Sebby on YouTube mention the AmEx potential changes/additions.

Re: Rumored HSBC Card Changes

cardme — Wed, 06 May 2020 07:36:42 GMT

That is interesting. HSBC in recent years newly established the "Jade" tier. From what I've read, some people currently mention the AF being waived for people with a relationship within that tier (I guess similar to how the WM has its AF waived for Premier clients).

While I'd agree that their overall offerings are pretty competitive, their credit cards left a fair amount to be desired (at least prior to the recent overhaul which basically gave some pretty nice niche benefits for free, if you have a qualifying relationship).

Needless to say, even with that overhaul however, I have never had the desire to make the cards my primary driver (mostly because they've stayed around a ~1-1.5% cash back rate in a lot of situations). I'd love a second look though and definitely welcome the news especially considering a lot of cards are rethinking how to handle travel benefits for the time-being.

Re: Rumored HSBC Card Changes

MrCreditInternational — Wed, 06 May 2020 16:30:41 GMT

My premier wemc will hit me with the AF in July, so I'll probably cancel it before then. The SUB is really nice but otherwise the card is meh. I hope they do something like reduced AF for premier clients and add more benefits.

Also I don't like that points are separate for each card. I hope they'd put all points together like other banks.

Re: Rumored HSBC Card Changes

FieryDance — Wed, 06 May 2020 18:46:10 GMT

@MrCreditInternational wrote:
My premier wemc will hit me with the AF in July, so I'll probably cancel it before then. The SUB is really nice but otherwise the card is meh. I hope they do something like reduced AF for premier clients and add more benefits.

Also I don't like that points are separate for each card. I hope they'd put all points together like other banks.

I am also debating about that card and the free one. I am now also a "Premier client" but both cards are kind of meh.

Re: Rumored HSBC Card Changes

MrCreditInternational — Wed, 06 May 2020 18:49:44 GMT

At least the free one is free and gives you $50 for Uber/Lyft

Re: Rumored HSBC Card Changes

cardme — Wed, 06 May 2020 20:46:57 GMT

@MrCreditInternational wrote:
At least the free one is free and gives you $50 for Uber/Lyft

Just got notification they are letting people use it for Uber Eats as well now (2x points on grocery, convenience, and wholesale clubs also).