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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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   posted: Aug. 31, 2006 @ 12:51p
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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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   posted: Aug. 31, 2006 @ 12:56p
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What is the name of this card ?
This is the best reward card I know so far exclude specific gas, supermarekt...etc.

   posted: Aug. 31, 2006 @ 12:58p
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Wow, who would have thought a month ago....5% HSBC card +2.3% HSBC for all your spending needs! Forget Chase, Citi, BoA!

   posted: Aug. 31, 2006 @ 1:16p
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This looks pretty sweet.

   posted: Aug. 31, 2006 @ 1:17p
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unfortunately , like all the best cards, its INVITE ONLY

   posted: Aug. 31, 2006 @ 2:13p
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does your wife have savings with them for a large amount of money that they offer you this?

   posted: Aug. 31, 2006 @ 2:22p
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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.

   posted: Aug. 31, 2006 @ 2:24p
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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?

   posted: Aug. 31, 2006 @ 2:32p
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hot card!

   posted: Aug. 31, 2006 @ 2:33p
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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.

   posted: Aug. 31, 2006 @ 4:25p
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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.

   posted: Aug. 31, 2006 @ 4:49p
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I'm pretty sure this is the same card that is talked about here.

   posted: Aug. 31, 2006 @ 4:53p
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The 2% card is called the "True 2% Cash Back" card. The number on the back is 1-800-477-6000.

   posted: Aug. 31, 2006 @ 5:51p
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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.

   posted: Aug. 31, 2006 @ 6:12p
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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...

   posted: Aug. 31, 2006 @ 6:43p
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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.

   posted: Aug. 31, 2006 @ 8:23p
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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 )

   posted: Aug. 31, 2006 @ 9:01p
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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)

   posted: Aug. 31, 2006 @ 9:19p
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I got invited 2 months ago. This will replace my citicard. $13000 is not too hard to hit though.

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