HSBC is relaunching the HSBC Platinum Credit Card next month. Known by many as a go-to credit card for additional points on shopping mall spend, the revamp will see huge changes to the card’s rewards benefits from 15 July onwards. Instead of additional points on mall spend, the HSBC Platinum Credit Card will be awarding its 8x and 5x rewards points for contactless transactions and online, groceries, and overseas spend respectively.
The HSBC Platinum Credit Card offers 1x rewards points for all retail spend, but awards additional points for specific spending categories. Currently, cardholders receive a total of 8x rewards points for using it in The Gardens and Mid Valley Megamall, and 5x points at other participating malls. From 15 July, HSBC Platinum Credit Card members will instead receive additional points for contactless, online, groceries, and overseas spend. According to HSBC, contactless payments refer to usage of the card via Mastercard Tap & go, Visa payWave, and Samsung Pay.
Here’s what the HSBC Platinum Credit Card’s new benefits will look like.
|Expenditure||Rewards points||Monthly cap|
|Contactless purchases||8x||3,000 points|
|Online shopping||5x||3,000 points|
|Overseas spend||5x||6,000 points|
Under the new benefits, HSBC Platinum Credit Card members can earn up to 15,000 additional rewards points per month. Previously, the additional rewards points were capped at 10,000 points for spend in Mid Valley and The Gardens, and 10,000 points for spend at other malls. There are no changes announced to the ordinary 1x rewards points for all other spend using the HSBC Platinum Credit Card, which exclude some types of expenditure such as petrol and government transactions.
The revamped points-earning categories make the HSBC Platinum Credit Card a lot easier to accumulate rewards points, especially with the introduction of contactless payments as a specific category - the only caveat being that each transaction must be under RM250. The changes also benefit those who prefer to do their shopping online or outside of crowded shopping malls – and of course those who travel now have an incentive to use their HSBC Platinum Credit Card overseas too.
As mentioned above, the changes to the HSBC Platinum Credit Card will only take place from 15 July onwards for all new and existing cardholders.