I noticed that also, but have not received any notification.
I know I won't be keeping the card if there's a fee imposed, the benefits aren't worth $95 to me.

USA issued cards require a notice on the paper/PDF statement issued one cycle before the one on which the fee is billed. However, when changing the amount of the fee I would expect a separate notice even if not required by regulation.

Wasn't the old HSBC Premier Card advertised as $95 AF unless you had a Premier account then it was waived? Similar to HSBC World Elite was $395 and waived if you had Jade (RIP)? I was assuming the waiver would remain. I'd cancel as well if there is an AF.

The current terms specify a fee waiver only for Private Bank clients and HSBC employees, not for Premier clients.

In the USA, Jade has been replaced by Premier Elite, but again this does not seem to include a fee waiver.

Citi Custom Cash - 5x on top category per billing cycle, up to $500, which includes 2 travel categories:
Select Travel
Includes airline, hotel, cruise line and travel agency purchases. Excludes timeshares, boat leases and rentals, campgrounds and trailer parks, and real estate agencies.

Select Transit
Includes car rentals, ferries, commuter railways, subways, taxis/limousines/car services, passenger railways, bridge and road tolls, parking lots/garages, bus lines, and motor home and recreational vehicle rentals. Also includes merchants that sell electricity for charging an electric vehicle. Excludes bike/scooter rentals, auto clubs and insurance companies.

Citi Prestige - 5x on airlines and travel agencies.

Wells Fargo Autograph Journey - 5x on hotels, 4x on airlines.

Wells Fargo Attune - 4x on Bus Lines, Local and Suburban Commuter Passenger Transportation, including Ferries, Passenger Railways, Other Transportation Services.

Interesting. I'd have to think about whether to keep or not. I do save a bundle via the 10% off at Agoda with this card. Probably >$95 per year, although not every year. That would be the only reason to keep the card for me. I'd have to do an analysis if I get hit with an AF.

I had a meeting at HSBC today, and confirmed that the $95 fee is not waived for Premier (or Elite) clients. I explained that for the same $95 fee Citi Premier offered better rewards across a range of categories. He said that the product designers believed that the benefits, rather than the rewards, could justify the cost. He did not know when the fee would be billed.

Thanks. Could be the end of that card in my wallet (when the fee hits). The only benefit I use is the 10% off Agoda. It does save me a bundle so they may get my $95 for one more year. Although I will see where else I can save at Agoda, may be able to get ~7% and then cancel. HSBC has always been a pain so their banking side isn't what keeps me with them

Do you know why HSBC USA no longer has Premier Elite status?

As of now, HSBC USA has two tiers only, Private Banking and Premier, not sure if HSBC USA cut Premier and retain Private Banking and business banking?

Welcome to Flyertalk.

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?

Received email today

Fee is charged on anniversary and mine is in August so I may have escaped it

I’m getting $5 back on Netflix each month (MCC 4899), credit posted correctly, so that’s worth $60

GE Credit won’t even cover the whole thing after it went up

Gas I use Wyndham Business 8x and grocery I use Boundless 3x

Planning to downgrade before anniversary - which travel partner is best to transfer points to? I don’t have substantial balances in any of them

I do not see any downgrade options, there are only two cards listed: Elite and Premier.

They definitely had a few previously (archive.org is down from a DDOS attack, but circa 2021 they had HSBC Advance as well as HSBC Gold Mastercard etc). Looks like they were removed in 2022.

Maybe someone can ask if there are any unlisted downgrade options, otherwise I plan to cancel on anniversary

I received my email today re the "enhancements".

Whenever they say "enhancements" you know that its bad news.

I chatted with rep at the app. Asked for cancellation. Rep suggested I wait untill February to cancel (my card's anniversary). I will do this.

Not worth the annual fee for me.