Really appreciate the confirmation. If this is the case, I might just keep the card next year since it’s only $49 after credit, lol
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Hot - HSBC WE MC - 100k plus FYF
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- LeiC71453
- Newbie
- Jun 4, 2020
- 6 posts
- 2 upvotes
- LeiC71453
- Newbie
- Jun 4, 2020
- 6 posts
- 2 upvotes
Thank you!TimTaylor wrote: ↑ I waited until after the bill printed, then cancelled. Got the full refund so far and no deductions for the travel credit. Wondering if this could also work for redeeming the 100k in travel points credit when they post it in 5 years. I also wouldn’t mess with air Canada or any airline. Just book an Expedia hotel fully refundable and prepay on checkout.
- b31770
- Deal Addict
- Nov 22, 2012
- 2008 posts
- 2044 upvotes
- VANCOUVER
So I give up.
Tried on my mobile and it wouldn't let me upload the video. Still answered everything correct and at the end, just said there was an error.
Second time same thing but included my SIN and was directed to a branch. Nope, not worth it.
Tried on my mobile and it wouldn't let me upload the video. Still answered everything correct and at the end, just said there was an error.
Second time same thing but included my SIN and was directed to a branch. Nope, not worth it.
- SaskCanesFan
- Member
- Nov 24, 2019
- 445 posts
- 526 upvotes
- Saskatoon
Ok yeah I see what you're saying now. For the last couple years pre COVID, we would usually book a December holiday last minute-ish, and its worked pretty well. So I figured get this card just before the Dec 28th deadline, spend the $5000 in 3 or 4 months, then you've got 115,000 points in your account for a $575 travel credit against a vacation next winter, assuming enough time for a vaccine that we are comfortable travelling by then. What I forgot to take into account is that the rewards points for the $ spent on the trip would be wasted in that scenario.Phonophoresis wrote: ↑ Unfortunately, it's not that simple - you're failing to account for the nitty-gritty details of the redemption scheme/terms.
The problem is that the bonus does not post once the MSR is met; rather, it reportedly posts 60-days AFTER the 6 month mark or meeting the MSR (or so posters have reportedly been told). I can attest that as a previous holder of the card (for last year's promo), HSBC credited the bonus automatically, but at the last possible second outlined in their offer's T&Cs, despite meeting the MSR very early.
When you combine this with the fact that travel redemptions are limited to 60 days prior, this makes it hard to extract maximum value from your points, especially if trying to exploit a certain refund loophole. Note: I do remember something vaguely about me being able to redeem for travel beyond 60 days regardless of those T&Cs... perhaps in the 75-90 day range, but I cannot remember for certain.
Thus, you either have to travel somewhere, or make a travel related purchase AFTER receiving your bonus points, which for obvious reasons, isn't super plausible for majority of us (+ then you are stuck in no man's land with the points gained from said travel purchase, which would be $575+ x 6 pts/$ = 3450+ pts = ~$18+); or sacrifice on redemption value with another redemption option. If you're comfortable with getting relatively poor valuations for your points like the @smackioio said (i.e. GCs), then ignore me.
Of course, this is all hypothetical based upon when the bonus points post. I haven't been following, but current DPs over the last few pages do seem to corroborate that they do not post instantly after passing the spend threshold. No one seems to have received them yet, despite some posters meeting the MSR. We'll find out in a few months, I guess.
What I'd probably do then is plan about $2500 for a trip booked next December, which gives 15,000 more points. At that point I could redeem 125,000 points for $625 worth of credit and lose out on the value of the remaining 5000 points, or else spend $1667 in the months before to end up at 135,000 points and a $675 travel credit. Neither is quite ideal and brings the % return down a bit, but considering the $100 TEC in addition, I still think its worth doing in my case.
As an aside, is the $100 TEC per calendar year, or year that you have the card?
- Phonophoresis
- Deal Addict
- Oct 3, 2013
- 2916 posts
- 4473 upvotes
- West
TEC is per account anniversary, not calendar year. Don't forget about the $149 AF that comes along with renewal, though. That may defeat the purpose of forcing yourself to redeem any residual points you may have leftover, which is likely to be worth approx. the same amount after the TEC, anyway.SaskCanesFan wrote: ↑ Ok yeah I see what you're saying now. For the last couple years pre COVID, we would usually book a December holiday last minute-ish, and its worked pretty well. So I figured get this card just before the Dec 28th deadline, spend the $5000 in 3 or 4 months, then you've got 115,000 points in your account for a $575 travel credit against a vacation next winter, assuming enough time for a vaccine that we are comfortable travelling by then. What I forgot to take into account is that the rewards points for the $ spent on the trip would be wasted in that scenario.
What I'd probably do then is plan about $2500 for a trip booked next December, which gives 15,000 more points. At that point I could redeem 125,000 points for $625 worth of credit and lose out on the value of the remaining 5000 points, or else spend $1667 in the months before to end up at 135,000 points and a $675 travel credit. Neither is quite ideal and brings the % return down a bit, but considering the $100 TEC in addition, I still think its worth doing in my case.
As an aside, is the $100 TEC per calendar year, or year that you have the card?
Regardless, it's not the worst thing in the world to lose out on a small amount of points/redemption... but I think my point was just that this is an inflexible redemption system that is poorly conceptualized. Unless, that was their intention, of course.
- DaveGoodmen
- Member
- Mar 6, 2002
- 461 posts
- 569 upvotes
- xxxronjames
- Sr. Member
- Apr 18, 2017
- 706 posts
- 350 upvotes
- Poland
Got asked to go to the Branch.
Obviously not ideal, but got an appointment for the next day. Approved and in and out within 20 minutes. Was pretty painless. Will have the card in 10-15 business days
Obviously not ideal, but got an appointment for the next day. Approved and in and out within 20 minutes. Was pretty painless. Will have the card in 10-15 business days
- SaskCanesFan
- Member
- Nov 24, 2019
- 445 posts
- 526 upvotes
- Saskatoon
Yeah there's no doubt that their redemption system is very poor and inflexible. Like you say, that may have even been by design. But I think for me personally at least that I could still make pretty good use of it if things go to what my plan is, don't think I could really do better with any competing card offers right now even if I do lose some points value before cancelling. Should work out to roughly an 8.3% return on spend for me + the $100 credit. YMMV of course, and I wouldn't get this card with the usual bonus offers, but 100,000 points probably pushes it over the edge for me.Phonophoresis wrote: ↑ TEC is per account anniversary, not calendar year. Don't forget about the $149 AF that comes along with renewal, though. That may defeat the purpose of forcing yourself to redeem any residual points you may have leftover, which is likely to be worth approx. the same amount after the TEC, anyway.
Regardless, it's not the worst thing in the world to lose out on a small amount of points/redemption... but I think my point was just that this is an inflexible redemption system that is poorly conceptualized. Unless, that was their intention, of course.
- Kiraly
- Deal Expert
- Jan 9, 2011
- 19736 posts
- 28624 upvotes
- Vancouver
I called in and asked about upgrading my HSBC Advance MC to the WE version and if it was eligible for WB and FYF. She said yes, and to just visit a branch. So I did, and filled out product switch form. Card is apparently in the mail. After I receive the card and make the first purchase, I'll report if I receive WB or not.
- matalino
- Newbie
- Apr 19, 2016
- 41 posts
- 15 upvotes
Still waiting for my GCR rebate to post. When I followed it up last Nov 12 through email, I got a reply that HSBC was just processing the rebates for a small batch of the applications. She said that I will be getting it by the end of the month. However, I did get a prior email stating that my rebate will be credited in time for the November 28 pay out.
Has anyone who is been waiting for the rebate received theirs already?
Has anyone who is been waiting for the rebate received theirs already?
- sudk
- Jr. Member
- Aug 29, 2008
- 106 posts
- 27 upvotes
got both $100 plus $125. Thanks
- forgetpwd
- Deal Addict
- Apr 30, 2005
- 3663 posts
- 1174 upvotes
- Mars
- redboy69
- Deal Addict
- Sep 15, 2008
- 1767 posts
- 4502 upvotes
- Pawtucket
I'm still waiting for the cashback. I also received the email about November 28 but haven't heard anything yet.matalino wrote: ↑ Still waiting for my GCR rebate to post. When I followed it up last Nov 12 through email, I got a reply that HSBC was just processing the rebates for a small batch of the applications. She said that I will be getting it by the end of the month. However, I did get a prior email stating that my rebate will be credited in time for the November 28 pay out.
Has anyone who is been waiting for the rebate received theirs already?
- sudk
- Jr. Member
- Aug 29, 2008
- 106 posts
- 27 upvotes
- Eaglesfan99
- Sr. Member
- Jan 30, 2017
- 748 posts
- 121 upvotes
- forgetpwd
- Deal Addict
- Apr 30, 2005
- 3663 posts
- 1174 upvotes
- Mars
how did you get $100 travel bonus? I spent $10 when I got the card, believe had 25K points posted, but have not redeemed anything yet. u mean u actually redeemed and has that cash in your account or you mean your points worth that much now?
- Divincenzoo
- Newbie
- Oct 26, 2018
- 94 posts
- 384 upvotes
I’ve been following this thread for months! The GCR was easy, but the 25,000 for $125? I know nothing about that one. I was expecting to spend all my points on a $500 Costco card when the remaining 80,000 points arrive. Is the 25k for $125 worth looking into?
- amplified
- Deal Addict
- Oct 13, 2006
- 3024 posts
- 1538 upvotes
- Burnaby
25k points is the minimum redemption level for travel. Book a refundable hotel and you can claim your points. so 100K points would be worth $500.Divincenzoo wrote: ↑ I’ve been following this thread for months! The GCR was easy, but the 25,000 for $125? I know nothing about that one. I was expecting to spend all my points on a $500 Costco card when the remaining 80,000 points arrive. Is the 25k for $125 worth looking into?
$500 Costco card is 160,000 rewards points in comparison lol
Last edited by amplified on Nov 28th, 2020 11:00 pm, edited 1 time in total.
- theinfamous
- Deal Addict
- Oct 26, 2005
- 1388 posts
- 432 upvotes
- Toronto
When did you sign up and get approved for the card? I signed up on Sept 9/20 and got a confirmation from GCR that the $50 would be paid out via PayPal on Nov 28. Ended up getting the rebate on Nov. 27th.matalino wrote: ↑ Still waiting for my GCR rebate to post. When I followed it up last Nov 12 through email, I got a reply that HSBC was just processing the rebates for a small batch of the applications. She said that I will be getting it by the end of the month. However, I did get a prior email stating that my rebate will be credited in time for the November 28 pay out.
Has anyone who is been waiting for the rebate received theirs already?
R.I.P. Prodigy
- amplified
- Deal Addict
- Oct 13, 2006
- 3024 posts
- 1538 upvotes
- Burnaby
I applied on Sept 8 and i'm still waiting. No email from GCR other than the update back in Oct (?) that stated HSBC didnt have a tracking system but that they would work on one and payouts would still be on time for Nov. I emailed GCR on Nov 25th asking for an update and they sent me back an email stating that HSBC finally has a system to match applications but no update on rebate lol. No big surprise here, its HSBC.theinfamous wrote: ↑ When did you sign up and get approved for the card? I signed up on Sept 9/20 and got a confirmation from GCR that the $50 would be paid out via PayPal on Nov 28. Ended up getting the rebate on Nov. 27th.
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