[Expired] HSBC Cards: Earn 3x At Grocery Stores; Use Uber Credit For UberEATS (thru 7/31)

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Update 6/11/20: This has been extended until July 31st, 2020 according to flyiingpenguiin

Original post May 6th: HSBC sent out emails today with two benefit enhancements on the Premier Elite card through June 30:

  • Use Uber credit for UberEATS. Max $20 per usage (you can use it 5 x $20 and get all $100 back).
  • Get 3x points at grocery stores, convenience stores, and wholesale clubs.

The HSBC Premier Elite card offers $100 Uber credit. This did not work previously when people tried to use it on UberEATS, but now they are allowing it to work, in increments of $20 each charge.

The HSBC Premier offers $50 Uber credit; I assume this UberEATS offer was sent to this card as well, but not sure.

From May 1, 2020 through June 30, 2020, you will earn three (3) Rewards Program Points on purchases made at stores or retailers classified under the following merchant category codes (MCC): 5300 Wholesale Clubs, 5411 Grocery Stores / Supermarkets, 5422 Freezer and Locker Meat Provisioners, 5441 Candy Stores / Confectionery Stores / Nut Stores, 5451 Dairy Products Stores, 5462 Bakeries and 5499 Misc. Food Stores – Convenience Stores and Specialty Markets

Hat tip to reader SA

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Kent
Kent

A point worth adding: the HSBC World (non-Elite) earns 2x points on the same categories until July 31st, according to this: https://www.us.hsbc.com/credit-card-resource-center/premier/

Celia
Celia

Hoping Chase gets the same idea for an extension. 🙂

Marc
Marc

Oh, nice. I’m sure the two people dumb enough to have this card with the worst-run bank in the US will appreciate the extra points to transfer among 2 or 3 airlines transfer partners. /s

Tom
Tom

Yeah, you’re right, unlimited 3.75% cold hard cash back on grocery spend is pretty freaking awful.

VML
VML

Having experienced HSBC’s ‘customer service’ firsthand (see mult prior posts on this site), I get where you’re coming from. However, their direct savings account has a still decent interest rate that outperforms many other places without any requirements and their brokerage is shockingly decent. Balances held in both qualify you for their Premier service, which includes the card with no AF. Shockingly, once you get above a certain balance threshold with them, the customer service goes from incompetent to down-right excellent. YMMV.

Marcus95@aol.com
Marcus95@aol.com

Two problems with that:

1. Are you really giving them credit for at most a 0.05% or 0.10% difference of competitors in their online savings account? No one is going to get rich off of that difference. And anyone with enough dollars for whom those small basis points would make a material difference has sophisticated wealth managers; they’re not going to bother with some cheapo online savings account.

2. The Premier service itself is a downer. Nothing really stands out for anyone other than a Hong Kongese businessman who likes the service in two countries. For the typical wealthy American, there’s absolutely zero reason to choose HSBC Premier over Chase Private Client whatever the equivalents are at BofA, Citi, and Wells.

VML
VML

To each his own – I’m not touting HSBC as the be all, end all option. However, most of the competitors you mention generally have higher balance reqs and the majority of them do not come close to HSBC’s online savings rate. Citigold, for instance, is now 250k. Same with CPC. I still have no idea what WF even offers in terms of benefits. I have not been able to find another one-stop institution that does everything – HSBC is ok in this regard. That being said, you can certainly find better standalone options in each category.

captainsave
captainsave

So is it 20% of $20?

Alex
Alex

There’s two different cards. The elite card credits 100% of charges up to $20. The non-elite card credits 20% of charges (not to exceed a $20 rebate, if I’m not mistaken.. Never made a $100 uber charge)

Lia
Lia

I don’t need travel credits. I wonder if I get the premier card (which has 35000 points bonus), can the rewards points be redeemed as a cash back? What are the ways available to redeem the rewards points?

VML
VML

Here are all the options and rates for the Premier card:

Travel statement credit – refunds $200/400/600 for travel purchase posted to card for 16k/32k/48k points [1.25 cpp].
Airfare ticket purchase – purchase ticket with $100/200/400/500/600/800/1200 refund for 10k/20k/32k/40k/48k/64k/96k points [1-1.25 cpp]. This is done by calling and having an agent book this, immediately redeeming points for one of the amounts. Need to spend $400+ to get higher rate.
Travel site purchase – purchase airfare, hotel, car rental from their portal. Redemption varies but I think airfare is generally 1.25 cpp and other options 1 cpp.
Global entry credit – 10k pts to refund purchase fee on card [1 cpp].
TSA Precheck credit – 8500 pts to refund purchase fee on card [1 cpp].
Miles transfer – convert points to airline miles with Singapore, Emirates, Avios, and AeroMexico (all 1:1).
3rd party gift cards – unless they have a sale, max value is 1 cpp but some options are worse.
Donate to charity – donate to Red Cross/Charity Choice. 1 cpp but they are offering an extra 10% currently.
Shopping mall or Travel experiences (cruises, tours, travel package etc) – generally terrible value.
Statement credit or Deposit to account – 1 cpp.

TL/DR: Travel redemptions give you best rate of 1.25 cpp. Benefit of program is can do partial redemptions/cost offsets if do not have enough points to fully cover purchase. Can transfer miles to select partners but rate is not great. Option for a statement credit/cash deposit.

Hope this helps!

Lia
Lia

Thanks. Good to know the rewards points can be redeemed as statement credit or can be deposited to bank account 1cpp.

Alex
Alex

The non-elite Premier is only getting 2x at grocery stores. Uber eats can be used now for the $50 credit, but remember it’s only a 20% rebate. Not dollar for dollar like the elite card.

jc
jc

Alex trying to find where the 20% part is mentioned on https://www.us.hsbc.com/credit-cards/products/premier but I couldn’t. Could you share where it’s mentioned? Thanks.

jc
jc
Joe
Joe

Got an email from Chase that the Sapphire Reserve card will be earning 5x points at grocery stores, up to $1500 a month, through June 30.
Will def be using that!

Megan
Megan

Plus the Pay Yourself Back program for the extra points redemption for grocery and restaurants. Really nice.

TomT
TomT

I have both flavors of the HSBC Premier card, and only received an email for the Elite version.

Alex
Alex

I have both also, but only got an email for the non-elite version, haha.

Youngestofallthebuck
Youngestofallthebuck

Likewise, but only got an email about the PWE