2nd March 2023 - 2 min read
HSBC Bank announced that it has enhanced the benefits of its HSBC Visa Signature credit card by expanding the 5x Rewards Points perk to include local in-store shopping transactions that are categorised under eligible merchant category codes (MCC). This revision is effective immediately.
In an email sent to cardholders, HSBC said that the benefit – which lets you earn 5x Rewards Points for local online spend and in-store shopping transactions – will no longer be linked to only selected malls. “Instead, it’s now applicable for your local shopping transactions so you can make the most of your in-store purchases anywhere,” the bank shared, clarifying that the benefit will be provided for transactions under the eligible MCC instead.
Prior to this, HSBC Visa Signature cardholders could only earn 5x Rewards Points for their in-store shopping expenses at participating malls, including Pavilion Kuala Lumpur, Suria KLCC, 1 Utama, Starhill Gallery, and IPC Shopping Centre. Retail transactions at other malls, meanwhile, are awarded only 1x Rewards Points.
As you can expect, this latest update will make the HSBC Visa Signature card much easier to use because you no longer need to limit your shopping to only selected malls just to earn 5x Rewards Points. Not only that, it is also more rewarding as you can earn points at a faster rate since you will now receive points for in-store purchases anywhere.
Aside from this revision, other perks of the HSBC Visa Signature card all remain unchanged. In addition to the 5x Rewards Points awarded for all local online spend and in-store shopping transactions made under the eligible MCC, you can also continue to earn 8x Rewards Points for foreign retail and online spend, and 1x Rewards Points for other eligible expenses.
The card also comes with a charity spend feature, where HSBC will contribute 1% equivalent of your donation amount to a selected charity organisation whenever you donate to any cause. Additionally, you are entitled to 6x complimentary access to selected Plaza Premium Lounges.
To apply for the HSBC Visa Signature card, interested applicants must have a minimum annual income of RM 72,000. Meanwhile, the annual fee stands at RM600 (waived if used once a month, for 12 consecutive months with minimum annual spend of RM2,000).
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