Rare deal: S$50 eCapitaVoucher & S$50 cashback/20,000 miles for existing HSBC cardholders

If there’s one immutable rule of the credit card world, it’s that banks don’t have a lot of love for existing cardholders.

Sure, they’ll roll out the red carpet and throw all sorts of gifts at new-to-bank customers, but existing? You’d be luck to get a cursory “as a token of appreciation for your loyalty, we are waiving your annual fee this year”.

But out of the blue comes an offer for existing HSBC cardholders, and it’s well worth taking note of.

From now till 8 November 2023, existing HSBC cardholders will get a S$50 eCapitaVoucher when approved for another HSBC credit card, with no minimum spend necessary! There’s also a further S$50 cashback or 20,000 miles with a minimum spend of S$1,000 in the first 1-2 months of approval.

SingSaver gift: S$50 eCapitaVoucher

From now till 8 November 2023, existing HSBC cardholders who apply for the following cards will receive a S$50 eCapitaVoucher from SingSaver upon approval, with no minimum spend required.

Card	Income Req.	Annual Fee
HSBC Revolution Apply	S$30K	N/A
HSBC TravelOne Card Apply	S$30K	S$194.40
HSBC Advance Apply	S$30K	S$194.40
HSBC Visa Platinum  Apply	S$30K	S$194.40

A maximum of one S$50 eCapitaVoucher can be received per existing cardholder, no matter how many cards they apply for. 

Approvals must be received within 14 days after 8 November 2023.

Application steps

1. Apply via the links in this article
2. Complete the SingSaver Rewards Redemption Form that is sent to your email, within the first 14 days of application. Ensure that the name, mobile number and email address submitted to SingSaver are the same as that used in the credit card application
3. Provide HSBC with your consent to receive marketing and promotional materials, and do not revoke it before the gift is fulfilled

HSBC gift

Since the HSBC Advance and HSBC Visa Platinum are cashback cards, I’m going to focus on the sign-up offers for the HSBC Revolution and HSBC TravelOne Card instead.

Once again, a reminder that you will only be eligible for the sign-up gifts if you consent to receive marketing or promotional materials from HSBC at the time of application, and have not revoked that consent at the time of gift crediting.

HSBC Revolution Card

For applications submitted by 31 December 2023, existing HSBC cardholders can earn S$50 cashback when they spend at least S$1,000 during the qualifying spend period, defined as the month of approval till the end of the following month.

In other words, you have 1-2 months to meet the minimum spend, depending on when you’re approved. 

HSBC TravelOne Card

For applications submitted by 31 December 2023, all customers, whether new-to-bank or existing, will receive 20,000 bonus miles (in the form of 50,000 HSBC points) when they:

• Pay the annual fee of S$194.40
• Spend at least S$1,000 during the qualifying spending period

The qualifying spend period is defined as the month of approval till the end of the following month. In other words, you have 1-2 months to meet the minimum spend, depending on when you’re approved. 

Who is an existing cardholder?

Here’s where you need to pay attention, because HSBC’s definition of “existing cardholder” is rather unique.

HSBC defines an existing customer as someone:

1. Whose last HSBC principal card approval was more than 12 months ago (except the HSBC Visa Infinite and TravelOne Card), and 
2. Who did not cancel any principal HSBC credit card in the past 12 months (except the HSBC Visa Infinite and TravelOne Card)

For you to count as an existing customer, all your HSBC principal credit cards (except the HSBC Visa Infinite and TravelOne Card) must have been issued more than 12 months ago. For example, if you were approved for a HSBC Advance/Premier/Revolution/Visa Platinum two months ago, you will not count as an existing customer for the purposes of this promotion.

Moreover, you cannot have cancelled any HSBC principal credit cards in the past 12 months (except the HSBC Visa Infinite or TravelOne Card). For example, if you cancelled a HSBC Advance/Premier/Revolution/Visa Platinum two months ago, you will not count as an existing customer for the purposes of this promotion.

Let me tl;dr this for you. If you’ve applied for a HSBC Advance/Premier/Revolution/Visa Platinum in the past 12 months, or cancelled a HSBC Advance/Premier/Revolution/Visa Platinum in the past 12 months, you are not eligible for this offer. 

In other words, it is possible to be neither a new nor existing HSBC cardholder!

If you really want to get into the nitty-gritty, refer to the post below.

PSA: HSBC’s unusual definition of new and existing customers

Spend exclusions

The minimum spend (for the HSBC gift; remember the SingSaver gift has no minimum spend) can be met by any retail transactions (including internet purchases) excluding the following: 

The key exclusions to note here are insurance, utilities, education, government transactions as well as CardUp/ipaymy. These were all excluded from 1 July 2020 onwards as part of HSBC’s revised rewards terms and conditions.

Gift Fulfilment

SingSaver gift

The S$50 eCapitaVoucher will be fulfilled within three calendar months after SingSaver receives the bank report confirming the completion of the promotion criteria. 

HSBC gift

HSBC Revolution: Collection notification will be sent by the last week of the month, two months after approval. For example, for approvals received in September 2023, collection notification will be sent by the last week of November 2023.

HSBC TravelOne: Bonus miles (in the form of HSBC points) will be credited within 90 days from the card opening date. 

Terms & Conditions

• Singsaver Rewards
• HSBC Revolution gift
• HSBC TravelOne 20,000 miles offer

Conclusion

If you already have a HSBC credit card but plan to get another, you can earn a S$50 eCapitaVoucher upon approval with no minimum spend necessary. You can also earn a further S$50 cashback or 20,000 miles with a minimum spend of S$1,000 in the first 1-2 months.

Remember to submit your applications by 8 November 2023 to be eligible.