HSBC Enters the Game – Accelerated Rewards Travel Portal Now Live!

[sanarora]

cant we transfer direct mutual funds to the hsbc brokerage..? wont that count..?

 

[sanarora]

I have a doubt, so 1 yr ago my account came with a HSBC Premier VISA platinum debit card, the current offering is a black VISA Signature Debit card, can someone throw some light on what is the difference between the two..? Shld i request for the New one..??

 

[ash_m]

So I meant the mutual funds which is run under them, I don't mean direct mutual funds with the hsbc name on them. I read that it would work hopefully I'm not wrong. I have the times black so would love to reduce to 12k from 20k lol

TimesBlack is still better for day to day usage, IMO. With HSBC Premier, you'd get 3% points for shopping - no extra points on shopping vouchers. With TB, you can buy vouchers and use them to shop - earning as high as 12% back in points.

HSBC Premier is only better if you're going to travel a lot, and wherever you travel you get Accor properties to stay. Otherwise, I don't see how it is better than TB.

Personally, I'd take TravelOne if I am not getting Premier & it is only travel redemptions that I need this for. Half the fees, almost similar return rate, and guess what - you get 4% points (8% return for Accor) back even when you choose to book via OTAs like Yatra.

 

[abhiaj_geek]

Correct, to avail the HSBC Premier card you need their premier account status.

Good thing is they're very transparent with this, you can find the details on their page itself: https://www.hsbc.co.in/premier/.
It doesn't explicitly say about investments but highly unlikely that you can just show your HSBC MF investments and get this status. Maybe through FD of 40L or something it might work.

Just FYI - this card not free. You pay 12K + GST as joining fee and in return, you don't get any points. But you get 12K Taj gift card & their epicure membership (this is not with 1 free night stay). The value on joining fee is not that great, I think. But yes if you're planning to stay at Taj in an year or so then this is pretty good. Other benefits I guess you already know.

Are you sure the one night free stay is not included with joining benefit of hsbc premier?

 

[abhiaj_geek]

cant we transfer direct mutual funds to the hsbc brokerage..? wont that count..?

My rm said no

 

[shashank08]

Are you sure the one night free stay is not included with joining benefit of hsbc premier?

Yes it is not.. you get 12K Taj voucher but no free night..

 

[abhiaj_geek]

I am seeing limited use of premier cc even now, especially as I have epm.
Then there is the hassle of maintaining premier account.m, and switching salary accounts.

 

[shashank08]

I am seeing limited use of premier cc even now, especially as I have epm.
Then there is the hassle of maintaining premier account.m, and switching salary accounts.

Salary account services of HSBC are good.
At least I am not seeing myself moving away from HSBC premier in near future.

I also have the same scenario of having EPM so HSBC premier CC is of limited use for me so I also didn't go for HSBC premier.

But someone who has lots of travelling and reaching the accelerated reward points limit for EPM or Infinia and already have a HSBC premier status then it can be a good option to keep considering it requires only joining fee to be paid and no annual fee.

 

[abhiaj_geek]

Salary account services of HSBC are good.
At least I am not seeing myself moving away from HSBC premier in near future.

I also have the same scenario of having EPM so HSBC premier CC is of limited use for me so I also didn't go for HSBC premier.

But someone who has lots of travelling and reaching the accelerated reward points limit for EPM or Infinia and already have a HSBC premier status then it can be a good option to keep considering it requires only joining fee to be paid and no annual fee.

I am not able to get that particular salary account benefit as my company doesn’t have a tie up, sadly. But yeah that’s a very rare and good benefit.

 

[ash_m]

I am seeing limited use of premier cc even now, especially as I have epm.
Then there is the hassle of maintaining premier account.m, and switching salary accounts.

I think diversification always helps. But if you've EPM or Infinia, then this has got limited use. Premier CC has got 2 pro's as of today:
- You've got transfers to Accor at 1:1, effectively doubling your return rate from 3% to ~6%. But then, this is only applicable if you specifically use points to stay at Accor.
- You get rewards (upto 1L spend) on excluded categories too - rent, govt payments like tax etc.

I've also got a similar case. I already have EPM, had DCBM as well earlier (closed due to poor acceptance, HDFC didn't upgrade to Infinia and in the meantime I got an invite to get EPM soon after I opened my sal account with them). HSBC was offering me premier status last year (end) when I was exploring salary accounts that offer good forex rates, even though slightly lower than 3L hits my account. Now they're not, like the corporate RM who visits my office said that due to some recent portal launch, even 2.99 may not work but they're trying for exception as my employer has some tie-up with them. On a side note, I can easily meet that 3L criteria if I let go of some deductions I have taken to reduce tax burden, but I don't really want to do that (I lose 35% of that as taxes). So I'm myself wondering if it is really of help to me. For (2), I use Amex Plat Travel so that covers me there (though I feel Accor is a lot more value for money when compared to Marriott).

Personally, I feel that TravelOne makes more sense if it is just travel (flights + hotels) I need a separate card for unless Premier comes without a fuss. There is very little difference between these two in terms of accelerated rewards. I don't hold Atlas, and I don't trust Axis ecosystem at all after the Magnus shit they've managed to pull off. It seems that's their business model, launch cards, intentionally keep loopholes and sell it to meet targets and show good sales numbers, and then either devalue or close the card.