HSBC – Starbucks

So, what is the relationship between HSBC and Starbucks in my life? There’s only one connection, I always use my HSBC card to pay for my starbucks coffee. Why? Because I enjoy a 10% discount on the purchase.

Well, you can imagine how disappointed I am when I found out that HSBC has discontinued the privilege program with Starbucks coffee. Basically, there’s no more incentive for me to hold on to their credit card anymore.
Yes, after this I shall draft the cancellation letter and fax to them…

Unwarranted Efficiency

I’ve been using HSBC mastercard for more than 3 years now. I’ve been a good customer, with perfect payment history and I’ve never failed in remitting my payment before the cut-off date until this month.

I missed the payment, mainly due to the fact that I was out of town for the CNY holiday.

I’ve just received a call from HSBC staff :

HSBC : “Hello Mr.Bryan… Ini Mr.Bryan ke??”

Me : “Yes, speaking”

HSBC : “Oh Mr.Bryan, saya telefon dari HSBC credit dept.”

Me : “Yes, anything?”

HSBC : “Ya Mr.Bryan, you ada outstanding bill untuk mastercard anda”

*still talking in malay although I’ve been replying him in english, the World’s Local Bank! Localised indeed as far as the language goes*

Me : “Ya, saya tahu, saya outstation jadi belum ada masa lagi untuk pergi bank”
HSBC : “Oh ya ke, Mr.Bryan sudah tahu. Boleh Mr.Bryan jelaskan bill sebelum minggu ini?”
Me : “Yes, boleh boleh.”
HSBC : “Ok Mr.Bryan, saya akan tuliskan satu note dekat system, jadi you akan bayar sebelum akhir minggu ini… terima kasih.”

Wow, all the effort from the bank to remind me of the outstanding payment. I really admire their determination in doing this, but some how I felt a bit insulted in the process…

My outstanding bill – RM79.85

Credit cards - Quest for rewards!

Just received the new annual credit card rewards catalogue. Out of curiosity, I made a comparison between the points needed for me to exchange for one x RM100 Hush Puppies voucher between my old and new credit card reward programs.

Old Credit Card
Spending required : RM17,000.00
Points awarded : 17,000
What you can get : 1 x RM100 Hush Puppies Voucher

New Credit Card
Spending required : RM5,000.00
Points awarded : 50
What you can get : 1 x RM100 Hush Puppies Voucher

I need more than 3 times spending to get the similar reward. The numbers speak for themselves.

I can only say that I can’t wait to have more points to bid for better items with my new credit card! All expentidure will go through my new credit card now… at the end of the day, it doesn’t matter which bank I need to remit the cheque, as long as I am rewarded for using the card!

I found the perfect credit card!!

You know what is the most frustrating thing I find about credit cards? It’s their reward programs! I feel like I have been taken for a ride all this while and I have ended up with nothing.

I have just checked out the latest reward program sent by one of the bank, do you know that I need 19,000 points just to exchange for a RM100 voucher??

19,000 points = I need to swipe RM19,000 worth of purchases to get that.

I use my credit cards to pay for everything, bills and purchases… I do make a conscious effort of not overspending. People tend to do that when they have a FEW cards in hand. So I am proud to say that I have no credit card debt and lots of points… but points that are practically useless to me.

Recently I have been introduced to a co-brand card issued by one of our local bank. I can tell you, it offers the best reward program that I’ve known so far.

I compare both of my cards, with the new co-brand card, I could exchange for the same RM100 voucher with only 5 reward points. (This bank awards 1 point per RM100)

I need to only swipe RM500 worth of purchases to get that!

Par to par, if I make RM19,000 of purchases with the new co-brand card in a year, I could easily exchange it for electrical items that is worth hundreds of ringgit!

There’s no catch to this, it is an honest and simple truth…