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Individuals who wish to soak in the rewards under this program should satisfy the following basic criteria.
- Primary cardholder – Only primary cardholders are entitled to redeem rewards points under this scheme.
- Applicable Cards – The following cards are eligible to earn reward points every time they are used – HSBC Visa Signature Card, Platinum Card, Reward Credit Card, Advance Visa Platinum Credit Card, Gold MasterCard and Premier World MasterCard.
Exceptions – There following are not eligible to earn reward points when they use their HSBC credit cards.
- Cardholders owning cards issued in another country
- Cardholders whose accounts are delinquent, i.e. they have outstanding dues to be paid
- Cardholders who have a HSBC Corporate Credit Card
Duration of participation
Unlike other time bound reward programmes, all eligible cardholders are entitled to earn reward points till their credit card is valid. In the event of a card being cancelled or terminated on account of delayed payments or any other reason, all accumulated points in that card are forfeited. HSBC can also choose to disqualify an individual from participating in its reward scheme at its discretion.
How do you earn reward points?
An eligible cardholder is entitled to earn a reward point every time he/she uses his/her HSBC credit card for a payment of RM 1.00/-. This includes transactions made abroad as well. Secondary cardholders also earn reward points when they use their cards, with 1 point for every 1 RM spent, though in this case the reward points will be credited under the account of the primary cardholder.
An individual does not earn reward points if the card is used to make annual fee payments, late payment fines, balance transfer, GST, etc. All eligible purchases will automatically reflect in the monthly account statement of a cardholder.
Reward points validity
HSBC Reward points are valid for a 3 year term, starting from the date on which the points were earned. These points will expire when the card expires, and in the case of points not being redeemed during this phase, these points will be deducted from the balance reward points of a cardholder.
Example – Miss Tina has a HSBC Visa Signature Credit Card which she used to purchase a new TV, earning RM 1,000 on the card. This purchase was made in January 2015 and the reward points will be valid till January 2018, provided that the card is valid till then. In her case, her card is valid till October 2017, which means that she will have to redeem these points by this date.
Note – HSBC can change the validity of reward points at its discretion by providing an intimation to cardholders.
How do you redeem your reward points?
Reward points earned through your HSBC HSBC credit card have no monetary value and cannot be transferred to another cardholder. These reward points can be redeemed against a “Rewards Catalogue” which contains a number of reward items. Cardholders who wish to redeem their points can log onto the official website of HSBC and go to the rewards section or could approach any HSBC bank. The item redeemed under this scheme will be delivered to a cardholder within 3 weeks.