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What benefits does Elite status offer that you will miss?
The higher status level was previously called Jade. HSBC sent an announcement when they ended Jade, but I do not recall any announcement when they introduced the Elite level. I think Elite was a confusing choice, because they also introduced the credit card with the word Elite in the name, but there was no connection between the Elite card and the Elite status. I think they will introduce a new name.
My current credit card is Premier so I'm not sure Elite status offer.
I really don't know HSBC's strategy, why cut Jade but retain Premier? Or Premier will cut finally?