HSBC Bank has announced that it will be revamping the benefits of its HSBC Visa Platinum credit card, effectively changing it from a rewards points card into a cashback card. Set to take effect from 25 June 2024, cardholders will be able to earn up to 8% cashback for selected spend categories.

The HSBC Visa Platinum credit card currently lets you earn 3x Rewards Points for every RM1 spent on local online purchases and auto-billing transactions, as well as 1x Rewards Point for every RM1 spent on all other purchases (both domestic and overseas spend). Come 25 June, however, HSBC said that the card will let you earn 0.2% cashback for domestic spend and 0.5% cashback for overseas spend instead. Additionally, you’ll enjoy up to 8% cashback on dining, entertainment, and shopping expenses.  

Here’s the table that was shared by HSBC in its notice:

That said, we’re still missing some key details with regard to the update, such as the exact cashback rates offered for dining, entertainment, and retail spend – since it says up to 8%. Aside from that, will there be individual limits within the total RM90 monthly cashback cap, set for specific spend categories?

HSBC said that affected cardmembers will receive a notification letter containing more information about this revision, so be sure to keep an eye out for it! It will be sent to the mailing address that you have registered with the bank.

In the meantime, we will continue to look out for additional details, and will report back again if we find out more.

(Source: HSBC)

• TAGS:
• Credit Card Revisions
• HSBC Advance
• HSBC Advance Visa Platinum
• HSBC Bank