HSBC Capping Platinum Card, AMEX to follow suit and Citi not sure...

[get me outta here]

Don't you have a 'no junk mail' sticker?

Nope, just an un-addressed junkmail letter on behalf of the local postie.

Legal: Reason I know it's junk = I'm also a postie worker, one who actually sorts at a delivery centre.

 

[raa007]

Just got the official letter from HSBC confirming this.
1 Point per $1 spent to $2500 per month, 0.5 Points thereafter (local & int'l) Yearly cap of 300,000 points.
Also no more free lounge passes.

Bonus 1 point per dollar spent on Qantas transactions remains. (Unlimited)

But we gain Paywave on our cards and our "low" annual fee of $199 remains. Yay!


Time to look for alternatives...

 

[A330]

But we gain Paywave on our cards and our "low" annual fee of $199 remains.

Got my letter today too. I lol'd when I saw that they think $199 is competitive!

I will be ditching this card before renewal.

 

[unnamed]

bye bye HSBC... didn't even have your card for a year... I'ts churning season folks....

 

[Daver6]

Would seem like the J* Mastercard is the obvious replacement for this?

 

[david123]

bye bye HSBC... didn't even have your card for a year... I'ts churning season folks....

Doesn't make sense to me, this decision by hsbc.. Doesn't really provide any benefits over the macquaire Woolworths yet that one is cheaper.

 

[opusman]

Yearly cap of 300,000 points.

I like how they give you a big cap to make it seem like they're being generous.

What they don't tell you is you'd need to spend $570,000 a year to get 300,000 points.

 

[2tall4Y]

Bump.

My anniversary date is coming up next week, so I rang to cancel my HSBC Platinum Qantas Card today. The operator did ask me for a reason and I made it very clear that the changes to the points earning made the card not worth the $199 annual fee. I was more than a little surprised NOT to be offered an annual fee waiver.

Oh well, time to move on and get 40,000 points courtesy of Jetstar/Macquarie.