22nd September 2021 - 2 min read
HSBC Bank has announced that it is extending the charity proposition feature – which is currently exclusive only to HSBC Amanah credit cards – to all its credit cards.
“We are pleased to announce that we will be adding a new charity proposition feature for HSBC Bank credit cards effective 1 October 2021. Previously, the charity proposition was launched on 14 December 2020 for HSBC Amanah credit cards. Now, this proposition will be extended to all HSBC credit cards on the effective date,” the bank shared in its announcement.
This latest update will affect four conventional credit cards in particular, namely:
The introduction of this feature will see HSBC contributing a 1% equivalent of your donation amount to a selected charity organisation whenever you carry out any eligible charity spend on these four cards. The bank’s contribution is limited to a maximum of RM500,000 per year, with the capping to be shared among HSBC and HSBC Amanah’s participating credit card/-i programmes.
HSBC’s donations will be performed on a quarterly basis to the selected charity organisations, and the amount of the donations will be equally divided between them. At present, the bank has identified four charity organisations as the recipients of this feature – although the list may be updated in the future:
HSBC also clarified that each charity organisation is only allowed to receive charity donations of up to a maximum annual limit of 15% of its gross annual income. The bank further stated that it will provide an annual update on its website to indicate the total amount that has been donated.
As for the existing benefits of each individual HSBC credit card, all of them will remain unchanged; cardholders will be able to tap into the usual perks like normal. Here’s a summary of the benefits of each card, provided by HSBC:
To clarify, the three HSBC Amanah credit cards that currently possess this charity proposition feature are the HSBC Amanah Premier World Mastercard credit card-i, HSBC Amanah MPower Platinum credit card-i, and HSBC Amanah MPower credit card-i.
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