Just so y'all know, today I received a letter from HSBC saying that they closed my DirectRewards account due to inactivity. I opened it awhile back as a backup for my Chase Cash Plus Rewards card. I was just about to start using it since all the Chase cards were expiring, but now I can't. Those of you that don't use this card, you better start using it. I had no idea they might close it, but it can happen to you too.

I noticed on my statement today, that my Cash Back went to zero. Needless to say, I called them immediately... They explained that they are moving over to a new rewards program (still carries 5% for everyday purchases, but lets you get statement credit when your Cash Back hits $25) and said because of this it shows up as zero. And the CCR said that my actual Cash Back is intact and I can call them when I see the actual amount next statement to get credited to my statement. She was believable and sounded like she know what she was talking about...
Anyone else notice $0 Cash Back balance this statement??

lonestarguy said:I got a check on my last statement. I could have easily missed it as it was not obvious. Make sure you look thru your statements carefully.I did make a point to look for a check on my last statement ending 8/21 that came a few days ago (thinking maybe a check is included since the balance went to 0) but did not find any, so I called CSR and got the same answer as vkva. At least the CSRs are saying the same thing. She didn't have an answer at first and had to look it up piece meal so initially I was doubtful of her answer. But since there is corroboration, unless we had the same CSR, I'm less worried.

The letter they sent to inform us of the new rebate program didn't tell us what would happen to the old balance. Also, it looks like in the future we have to call up to redeem over $25 balances. I would have liked it better if the credit was applied automatically. I'm not complaining since usually program changes are to the worse, and this one seemed to have actually improved.

I called again, got the same CSR, again she had to look things up piecemeal (said another department handles the rewards)...she said the reason some may have gotten their rebate checks in the mail is because they probably reached their anniversary before the new program started. My anniversary is in October, so that is why the old balance will appear in next month's statement and I must call in to have it applied to statement balance. At least she could tell me my old rebate balance so I know it's not lost.

I got the "new" card today. It still looks ugly. They took out "Direct Rewards" on the card. It now simply says "Platinum Cash". Account management is still through www.accountcentralonline.com.

I got my new card and it has the same account number, but a different expire date.

Everybody here is correct. HSBC is impossible to deal with when trying to redeem the cash rebate. Been getting the runaround for 2 months. "45 days" is their magic number from the time you ask for the rebate 'till the time you should get it. The problem is, it doesn't happen. There always mentioning how their procedures are changing, and they've always changed since my previous call.

My points accumulated over a year disappeared from the statements starting in August (though they remain in their computers, they can't be redeemed). And Watchdog is right, no info on Rewards online. Gotta wait for the paper statement to discover they've screwed up.

I can't even get a consistent street address out of them to complain to the applicable state authorities. I'm variously gotten Oklahoma, Arizon a and Maryland. I'll b#tch to all 3 & see what happens. They are truly incorrigible.

I can confirm that, my Cash Back has been credited to my account today. It took a about two weeks for me to see the credit. The CSR said, it would take 4-5 business days. I exclusively use this card for groceries and gas.

Any updates on claiming Cash Back?

We hadn't used our Direct Rewards card since about June (before the changeover to the new name and also before our anniversary). I pulled it out and used it for a few purchases in December to see if a new statement would trigger the Cash Back. It didn't. The new statement still shows our accrued rewards from before and added the new rewards. But there's no indication of how to claim it and we've now had the card for well over a year.

Before I go to bat with the CSRs, I'm hoping somebody has some insight into what I should expect. Those of you who have managed to get your Cash Back:

1) Was it a check or a statement credit?
2) Were you able to get the full amount or only the rounded amount?

Separately, has anyone figured out yet how the rounding works on the "new" system?

a) If you earn $1.75 Cash Back in a given month, do they round to $1 or $2?
b) Do they remember the pennies but only display the rounded numbers? Or are they actually basing your Cash Back on the rounded numbers? For example, if you earn $1.25 Cash Back each month for four months, at the end of the fourth month have you earned $4 or $5 Cash Back?
c) Does anybody remember reading anything about rounding in the new terms they sent when they "changed" the card?

Thanks bejota3. I tried calling earlier but because mrsthemicah is the primary cardholder they wouldn't let me redeem the rewards. I'll have to call back later and pretend I'm her.

I'm particularly curious about the rounding system, because if they are always rounding down and not keeping track of the pennies from month to month, they're effectively reducing the Cash Back to less than they claim it is.