I've had this card since last year (in the U.S.).
I don't think I've ever received two points for $1 of spend.
Is this a new promotion?

As of now I only use this card as a back up when traveling because it incurs no foreign transaction fee. Otherwise the rewards/transfer rates are rather mediocre.
Maintaining a $100k balance with HSBC for a premier account isn't ideal either, but I like the holiday promotions for free American Airlines 5 Star Service as well as the free Tablet Plus membership that comes with the card.
I feel that the benefits aren't well published...perhaps there are others I don't know about??