HSBC changes AM conversion rate again!
Mar 10, 2010 | 9:46 am
#1
Original Poster
Join Date: Dec 2003
Location: Hong Kong
Programs: CX Diamond / SQ Gold / Bonvoy Platinum / Hyatt Globalist / Hilton Gold
Posts: 1,100
HSBC changes AM conversion rate again!
(Disclaimer: Please correct me if I'm wrong ....)
From 24 April 2010,
It's also available here on HSBC's website: http://www.hsbc.com.hk/1/2/special/cards/prom169
What this means is HK$250 = $1 RewardCash = 15 Asia Miles.
The conversion rate is now 250/15 = HK$16.67 = 1 Asia Mile !!
HSBC has therefore gone from HK$12 to $15 to $16.67 per mile. Ridiculous!
From 24 April 2010,
- All the reward points outstanding in your credit card will be automatically converted into RewardCash at the rate of $1 RewardCash for every 250 Reward Points.
- For every HK$250 spending, you'll earn $1 Reward Cash
- For Asia Miles conversion, $1 RewardCash will be converted into 15 Asia Miles.
It's also available here on HSBC's website: http://www.hsbc.com.hk/1/2/special/cards/prom169
What this means is HK$250 = $1 RewardCash = 15 Asia Miles.
The conversion rate is now 250/15 = HK$16.67 = 1 Asia Mile !!
HSBC has therefore gone from HK$12 to $15 to $16.67 per mile. Ridiculous!
Mar 10, 2010 | 3:09 pm
#3
Suspended
Join Date: Jun 2002
Location: Hong Kong
Programs: None any more
Posts: 11,017
Thanks for the heads up. The only good thing about this is that I see no mention of the annual mileage programme fee (HK$300 is it?) which exists in the current scheme. Since I only have a small number of points sitting the the account (I only use my HSBC card when there is a discount associated with the card at the specific outlet) then overall this is actually an improvement for me.
Last edited by christep; Mar 10, 2010 at 11:27 pm Reason: typos
Mar 10, 2010 | 5:50 pm
#4
Join Date: Dec 2009
Programs: CX GO, Starwood
Posts: 36
This is why I have been using my AMEX card. I am going dig around the old threads and find the best card for this. Like another OP above, i only use HSBC now for associated discounts (and more recently when they had the overseas spending offer)
Mar 10, 2010 | 6:49 pm
#5
Join Date: Mar 2001
Location: Shanghai
Programs: CX Diamond, HH Diamond, A-Club Gold, Hyatt Platinum, Shangri-la Jade, Intercon Gold Ambassador
Posts: 1,370
HSBC Philippines has had the same ratio for at least five years.
On their HSBC Premier card you get one Asia Mile for every 35 Pesos spent. At today's exchange rate that is 1 AM = HK$ 5.93 spending. There is no fee if you have enough of a banking relationship with HSBC
Sounds like we get a good deal here
On their HSBC Premier card you get one Asia Mile for every 35 Pesos spent. At today's exchange rate that is 1 AM = HK$ 5.93 spending. There is no fee if you have enough of a banking relationship with HSBC
Sounds like we get a good deal here