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HSBC credit card with about 2.3% rebate on everything (limit $300 a year) Archived From: Finance

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alert mods    
   posted: Aug. 31, 2006 @ 12:51p


My wife got an invitation for such card, it's a tiered reward card with yearly maximum of $300. First $5000 is rewarded at 1%, next $5000 at 2% and rest at 5% but capped at $300 reward.

Math:

$5000*1% + $5000*2% + $3000 * 5% = $50 + $100 + $150 = $300

That's $13000 spending with $300 reward or about 2.3% on everything.

Best card around? Hope I could get the invitation too :S.


   posted: Aug. 31, 2006 @ 12:52p

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alert mods    
   posted: Aug. 31, 2006 @ 12:56p

What is the name of this card ?
This is the best reward card I know so far exclude specific gas, supermarekt...etc.


alert mods    
   posted: Aug. 31, 2006 @ 12:58p

Wow, who would have thought a month ago....5% HSBC card +2.3% HSBC for all your spending needs! Forget Chase, Citi, BoA!


alert mods    
   posted: Aug. 31, 2006 @ 1:16p

This looks pretty sweet.


alert mods    
   posted: Aug. 31, 2006 @ 1:17p

unfortunately , like all the best cards, its INVITE ONLY


alert mods    
   posted: Aug. 31, 2006 @ 2:13p

does your wife have savings with them for a large amount of money that they offer you this?


alert mods    
   posted: Aug. 31, 2006 @ 2:22p

Me and my bro both have the HSBC Online Saving account. My bro got the invitation but not me

P.S. my bro has about 10x less money in the account than I do.


alert mods    
   posted: Aug. 31, 2006 @ 2:24p

SUCKISSTAPLES said:unfortunately , like all the best cards, its INVITE ONLY

That is why I like to know the name of the card and see if we can call and convert from other HSBC card.

BTW, what is the name of invite only HSBC 2% card?


alert mods    
   posted: Aug. 31, 2006 @ 2:32p

hot card!


alert mods    
   posted: Aug. 31, 2006 @ 2:33p

I got this invitation, but I passed since my citi rewards was still giving 5% back on groceries and gas. But now it seems a little better. Also HSBC probably is counting that people will not spend $13000 to maximize the $300 cash reward. If you spend $10,000 annually, the return is only 1.5% ($150). The additional $150 is for $3000 on top of the $10,000. Depending on your spending habits, the other big name cash rewards cards are comparable for annual expenditures at $10,000 or less.


alert mods    
   posted: Aug. 31, 2006 @ 4:25p

UnixLab said:SUCKISSTAPLES said:unfortunately , like all the best cards, its INVITE ONLY

That is why I like to know the name of the card and see if we can call and convert from other HSBC card.

BTW, what is the name of invite only HSBC 2% card?

I received one a while ago - it just says "CashBack" on it. There is no information on their webpage about it, but CS seems to know about it when I have called in.

As others have mentioned, it becomes good when you will have "other spending" (ie: not Gas/Food/etc) at $13,000/yr so you get the full 2.3%. As the other gas cards change, it may become more beneficial.

I also don't think they plan on people spending the $13,000 to get the full amount.

Not sure if it matters about the invite, but I had a online savings account with them - it was down to about $200 when they sent the invite, but had been more.


alert mods    
   posted: Aug. 31, 2006 @ 4:49p

I'm pretty sure this is the same card that is talked about here.


alert mods    
   posted: Aug. 31, 2006 @ 4:53p

The 2% card is called the "True 2% Cash Back" card. The number on the back is 1-800-477-6000.


alert mods    
   posted: Aug. 31, 2006 @ 5:51p

Not that hot. 2.3% tiered with a cap of $300 for this card, vs 2% flat with a cap of $500 on the True 2% card.


alert mods    
   posted: Aug. 31, 2006 @ 6:12p

djspray said:I'm pretty sure this is the same card that is talked about here.
That card has $2,500/2,500 tiers. OP's card has $5,000/5,000. So, HSBC issues various offers. Now if we knew basis...


alert mods    
   posted: Aug. 31, 2006 @ 6:43p

Too bad it's so tricky to get invited to those awesome HSBC cards. We really need an HSBC employee on FWF to help us all out.


alert mods    
   posted: Aug. 31, 2006 @ 8:23p

this is a fantastic card, only thing I don't like is the $300 limit
I still have a Chase Rewards card that doesn't cap my limit, but it's now 1%, although my yearly charges are over $35k (thanks in part to HOT DEALS and consulting) and I purchase almost everything with my credit card. Now if my expenditure reduces, I'd welcome this card. But I want something special to push me over from Chase (more like 2.5% with no limits )


alert mods    
   posted: Aug. 31, 2006 @ 9:01p

the 300 limit kills it. i have the AMEX cash and although its up to 5%, i was able to cash up $350 last year. thus, this card is good if you dont use your card on retail stores but use your cc for misc stuff (i.e. phone bills)


alert mods    
   posted: Aug. 31, 2006 @ 9:19p

I got invited 2 months ago. This will replace my citicard. $13000 is not too hard to hit though.


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