In a surprising move, HSBC continues to diminish the benefits of its once-popular HSBC Revolution card. The most significant update is the removal of bonus points for contactless transactions starting July 15, 2024. Additionally, travel-related categories will lose their bonus earn rate from January 1, 2025, making the card less attractive for frequent travelers and users of contactless payments.
HSBC Revolution Card: No Longer Useful for Offline Transactions
Until the changes take effect, HSBC Revolution cardholders will continue to receive 10X Reward Points (equivalent to 4 miles per dollar or 2.5% cashback) on contactless transactions in eligible categories. However, starting from July 15, 2024, contactless transactions will only earn 1 reward point per dollar spent. This is equivalent to a mere 0.4 miles per dollar or 0.25% cashback, significantly reducing the card’s value for offline purchases.
This effectively makes the HSBC Revolution card primarily useful for online expenses. Even then, HSBC Revolution’s rewards mechanism limits the 10X points earn rate to selected categories on a whitelist basis. This means only specific categories earn the higher rate, unlike other cards like the DBS Woman’s World Mastercard or Citi Rewards, which use a blacklist basis, allowing most categories to earn bonus points except a few exclusions.
HSBC Revolution Card: Exclusion of Travel-Related Categories After 2024
The HSBC Revolution card has been favored by those who spend more on flight tickets and hotels due to its bonus points on travel-related expenses. However, this benefit is being eroded. Travel agencies and hotels were excluded from the bonus points about six months ago, and now HSBC is further removing all travel-related expenses from earning bonus points after the end of 2024. This change is significant as competitors like Citi Rewards and UOB Preferred Platinum Visa do not offer bonus points on travel-related expenses, making the HSBC Revolution card less competitive in this space.
No More Generous Sign-Up Gifts for HSBC Revolution Card
Another significant change that occurred recently is the exclusion of the HSBC Revolution card from the generous sign-up gifts offered with other HSBC cards. This indicates that HSBC is no longer interested in promoting this card actively. New HSBC cardholders can still benefit from attractive welcome offers with cards like HSBC Advance and HSBC TravelOne, but it’s advisable to take advantage of these offers sooner rather than later in case the bank decides to cut back on these benefits as well.
The updated terms and conditions for the HSBC Revolution card can be found here.
RIP HSBC Revolution Card: The End of an Era
With the numerous changes and reduced benefits, it is evident that HSBC has fallen out of love with the HSBC Revolution card. Once a flagship product, the card has been significantly downgraded and no longer offers the same value it once did. For those looking for alternatives, consider exploring a list of fantastic miles cards available. The HSBC Revolution card didn’t make the cut before these changes, and with the latest updates, even its most loyal users are likely to look elsewhere.
In conclusion, the HSBC Revolution card has seen significant reductions in its benefits, particularly affecting contactless payments and travel-related expenses. These changes, coupled with the removal of generous sign-up gifts, make it clear that HSBC is no longer prioritizing this card. Current and prospective cardholders may want to consider alternative options that offer better rewards and benefits.
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