In its latest announcement, HSBC has updated the terms and conditions covering their rewards programme to exclude many of the spend categories that makes the HSBC Revolution one of the best credit cards in Singapore.
In the latest terms and conditions that will come into effect from 1 July 2020, you will no longer earn 2 MPD on the following categories:
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Insurance
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Education
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Utilities
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PayPal, iPayMy, CardUp
Should you cancel the card?
It still has a place in one category in our list of the best credit cards. That is, Dining when mobile contactless is not available. This category will still give you 2 MPD without any cap.
There are not many restaurants without contactless payment terminals. Considering HSBC’s consistently generous sign-up bonuses in the past few years, you may also consider cancelling your HSBC Revolution card and re-applying for it 12 months later (to be considered as a new customer) to receive $150 cash or a Samsonite Luggage after spending $800 within one month. That’s at least a 19% cash back!
HSBC Revolution
New customer: (Samsonite Prestige 69cm OR $150 cash) + $20 Grab voucher*
Existing customer: $30 cash
Spending requirement: $800 in 1 month
Annual fee: $192.60 (First two years waived)
Minimum annual income: $30,000
* Complete the application with MyInfo.
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