HSBC is revising the redemption rates for some of its rewards points credit cards. The revision will affect redemptions for vouchers under the HSBC Rewards and HSBC Premier World Rewards programmes, as well as Enrich Miles using Premier World Rewards points.
|Programme||Redemption||Current Points Required||New Points Required|
|HSBC Rewards||RM100 vouchers||45,000||50,000|
|Online vouchers for Visa Signature||30,000||35,000|
|HSBC Premier World Rewards||RM100 vouchers||39,000||42,000|
|1,000 Enrich Miles||10,500||13,000|
The changes will kick in on 1 February 2020. For voucher redemptions from the HSBC Rewards programme, the redemption rate will increase by 11% whereas the preferred redemption for online vouchers exclusively for the HSBC Visa Signature will increase by 16.7% – but this figure is still 30% less than standard HSBC Rewards redemption rates.
Meanwhile, for HSBC Premier World Rewards voucher redemptions, the rate has increased by 7.7% and the redemption for Enrich Miles has gone up 23.08%. Based on the new Enrich Mile redemption rates, HSBC Premier World Mastercard cardholders will now have to spend RM1.30 on overseas hotel and dining expenses (its highest points multiplier) to get 1 Enrich Mile instead of the previous RM1.05.
Earlier in August 2019, HSBC also revised the air miles redemption rates for its Platinum and Signature credit cards. The revision increased these cards’ redemption rates for Enrich, KrisFlyer, and Asia Miles between 66%-71%.