New HSBC welcome offer: S$250 cash or choice of gadgets

SingSaver has launched a new promotion for HSBC credit cards, which runs from now till 31 January 2024.

New HSBC credit cardholders who apply during this period can choose from one of the following gifts:

• JBL Xtreme 3 Portable Bluetooth Speaker
• Xiaomi Robot Vacuum S10
• Apple AirPods Gen 3 + MagSafe Charger Bundle
• S$250 cash

Do note that this offer replaces HSBC’s regular sign-up gifts, i.e. S$150 cashback (Advance, Revolution, Visa Platinum) or 20,000 bonus miles (TravelOne), so you won’t be able to stack the two.

On the plus side, the minimum spend for SingSaver gifts is just S$500, half the S$1,000 required for HSBC’s regular sign-up gifts.

Eligible Cards

From 12-31 January 2024, new HSBC credit cardholders who apply for any of the following products will be eligible for this offer:

Card	Income Req.	Annual Fee
HSBC Revolution Apply	S$30K	N/A
HSBC TravelOne Card Apply	S$30K	S$196.20 (must be paid)
HSBC Advance Apply	S$30K	S$196.20 (first year free)
HSBC Visa Platinum  Apply	S$30K	S$196.20 (first 2 years free)
❓ New HSBC credit cardholders
New HSBC credit cardholders are defined as those who: Do not hold any principal HSBC credit card (except the HSBC TravelOne Card or HSBC Visa Infinite) Have not cancelled a principal HSBC credit card in the past 12 months prior to application (except the HSBC TravelOne Card or HSBC Visa Infinite) In other words, someone who only holds a HSBC TravelOne Card and/or HSBC Visa Infinite will count as a new HSBC credit cardholder.

The S$196.20 annual fee must be paid if you choose the HSBC TravelOne Card. Do note that paying the annual fee does not entitle you to any bonus miles, so for this campaign I’d recommend applying for an Advance, Revolution or Visa Platinum instead where the annual fee need not be paid (or where there’s no annual fee, in the case of the Revolution).

Do also note that holding a HSBC Visa Infinite or HSBC TravelOne Card does not, in and of itself, disqualify you from counting as a new-to-bank customer. HSBC puts these two cards in a separate category when determining new-to-bank status, which I’ve explained in this post.

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

Qualifying Spend

A minimum qualifying spend of S$500 must be made by the end of the calendar month after card approval. For example, cards opened on 15 January 2024 will have until 29 February 2024 to meet the qualifying spend.

This includes any retail transactions (whether online or offline), 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

All gifts will be fulfilled within three months after the bank report is received confirming the completion of all promotional criteria.

Terms & Conditions

• Singsaver Rewards

Conclusion

From now till 31 January 2024, SingSaver is offering a choice of S$250 or three gadgets for new HSBC credit cardholders who apply for a card and meet a minimum spend of S$500.

If you don’t have a HSBC Revolution Card yet (see my review here), then this is a great opportunity to pick up some additional gifts in the process. Be sure to submit your applications before the deadline, and fill in the SingSaver redemption form.