Strategy to obtain US Amex

[levelnine]

Thanks. Takes a good chunk out of any earn with visa/mc usually <0.5%, plus fees to pay the statement in USD.

All US cards appear to charge a hidden spread of about 1% on top of any published foreign transaction fees.

When combined with the spread/fees you lose on transferring money from AUD to USD, you need to be getting considerable benefits out of the card to warrant putting spend on a US card.

For me, it is worth it because I get, on average, about a 15% return on spend (after all these foreign exchange losses), but I only churn. I would never put non-churn spend on a US card. And that 15% figure is calculated conservatively using the cash out rate of US points. If I assign their true redemption value, the figure is closer to 25-40% return on spend.

And of course, there are some cards that can be worth having even if you don't put spend on them (eg Aspire).

 

[cathalm8]

No, I haven't lived there since I was an infant.

Was mainly wondering if I needed to do GT or if I could use this:

Was wondering did you try this way with your SSN and how did it go? I am in a similar situation as have a SSN, no credit history and no Aus Amex for now.

 

[nightelves]

Has anyone applied for the HSBC US credit card? It seems to offer 50k sign on bonus and no annual fee if you're a Premier customer. Normally annual fee is $450 from memory.

 

[dein_gesicht]

Has anyone applied for the HSBC US credit card? It seems to offer 50k sign on bonus and no annual fee if you're a Premier customer. Normally annual fee is $450 from memory.

I saw this, but I am actually worried that they will that it will all unravel if I applied through them

 

[nightelves]

I saw this, but I am actually worried that they will that it will all unravel if I applied through them

Sorry unravel what?

 

[levelnine]

Has anyone applied for the HSBC US credit card? It seems to offer 50k sign on bonus and no annual fee if you're a Premier customer. Normally annual fee is $450 from memory.

Any reason you'd bother? Its points don't transfer to anyone. There's a bit of value in the card as a cashback option, but not a huge amount.

 

[nightelves]

Any reason you'd bother? Its points don't transfer to anyone. There's a bit of value in the card as a cashback option, but not a huge amount.

Are we talking about the right card here? It's this card I am referring to: HSBC Elite Credit Card - HSBC Bank USA

As a Premier customer the annual fee of $395 is waived, you get two unlimited LoungeKey and it has good earn rate and transferrable to 11 Airline Partners.

 

[levelnine]

Are we talking about the right card here?

Apologies. I must have looked at a different product.

What are the 11 airline partners? There seems to be almost no information about this card online. Edit: Ahh, I see them now on one of the info panels.

It looks fine. 50K is a fairly poor sign up bonus for a US card and I personally wouldn't waste a 5/24 slot on a such a low amount, but if you want a one-and-done card it looks okay.

Having EVA & Turkish as transfer partners opens up some interesting possibilities. The other transfer partners are stock standard.

 

[nightelves]

Apologies. I must have looked at a different product.

What are the 11 airline partners? There seems to be almost no information about this card online.

Airlines

• Aer Lingus Aer Club
• Avianca LifeMiles
• British Airways
• Emirates Skywards
• EVA Air Infinity MileageLands
• Flying Blue
• Iberia Plus
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• TAP Miles&Go
• Turkish Airlines Miles&Smiles

Hotels

• ALL - Accor Live Limitless
• Wyndham Rewards

 

[levelnine]

Airlines

• Aer Lingus Aer Club
• Avianca LifeMiles
• British Airways
• Emirates Skywards
• EVA Air Infinity MileageLands
• Flying Blue
• Iberia Plus
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• TAP Miles&Go
• Turkish Airlines Miles&Smiles

Hotels

• ALL - Accor Live Limitless
• Wyndham Rewards

Thanks, yeah I subsequently found them. I put my quick thoughts in the edit.

 

[nightelves]

For $0 annual fee (with Premier status), 2 unlimited LoungeKey , $400 travel credit and 50k bonus points. I think it's a bargain. If you can point me to one that offers something similar then I would like to know.

 

[_TheTraveller_]

For $0 annual fee (with Premier status), 2 unlimited LoungeKey , $400 travel credit and 50k bonus points. I think it's a bargain. If you can point me to one that offers something similar then I would like to know.

Your deal is also contingent on having HSBC premier which a few steps to get your bargain.

But the point here was that it's not worth it if you're gonna waste a 5/24 slot.

 

[nightelves]

Your deal is also contingent on having HSBC premier which a few steps to get your bargain.

But the point here was that it's not worth it if you're gonna waste a 5/24 slot.

Fair points. Happy to waste a slot as I deemed the card is worth it now that I have Premier status.

 

[blacksultan]

Airlines

• Aer Lingus Aer Club
• Avianca LifeMiles
• British Airways
• Emirates Skywards
• EVA Air Infinity MileageLands
• Flying Blue
• Iberia Plus
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• TAP Miles&Go
• Turkish Airlines Miles&Smiles

Hotels

• ALL - Accor Live Limitless
• Wyndham RewardsI hace h

• Fair points. Happy to waste a slot as I deemed the card is worth it now that I have Premier status.

  have had the card 3 years now . 2 of them as one other discontinued card type was converted to this one . Recently have a spend $250 get $50 type offer .

 

[nightelves]

Can you tell me the process how you got this card? Also what's the transfer rate for each airline partner?

 

[cathalm8]

Fair points. Happy to waste a slot as I deemed the card is worth it now that I have Premier status.

I assume for this HSBC card, you require a credit history I.e. it's not similar to a Amex GT application?

 

[blacksultan]

Can you tell me the process how you got this card? Also what's the transfer rate for each airline partner?

I applied for this and the other to through my RM when I had my checking account opened .
Transfer rate is 1:1 I believe . Article online on same .

Post automatically merged: Jul 24, 2023

I assume for this HSBC card, you require a credit history I.e. it's not similar to a Amex GT application?

If you are a US hsbc premiere client your RM can open same .

 

[blacksultan]

Actually I have the premiere ( no annual fee ) card and not the premiere elite .

 

[blacksultan]

Also I think I was told I could have a max of 2 hsbc cards .

 

[cathalm8]

Are we talking about the right card here? It's this card I am referring to: HSBC Elite Credit Card - HSBC Bank USA

As a Premier customer the annual fee of $395 is waived, you get two unlimited LoungeKey and it has good earn rate and transferrable to 11 Airline Partners.

Would this card be a good card for my initial US credit card, considering the following:

1. I am already a HSBC US premier customer.
2. I don't currently have an Amex Aus to do a GT.
3. I have no US credit history.
4. I do have a SSN.
5. This will start building my credit profile in usa?