As we step into 2024, the HSBC Revolution Card seems less like a financial champion and more like a contender struggling to stay afloat. The card has undergone significant changes that many users are unhappy with, making its future uncertain.

A List of Setbacks

The HSBC Revolution Card has received what many consider to be significant "nerfs" over the past year. The elimination of bonuses for various categories such as airlines, car rentals, hotels, travel agencies, and even supermarket purchases has severely limited its appeal. Just when cardholders thought things couldn’t get worse, the changes to KrisFlyer miles conversions and the upcoming removal of complimentary travel insurance in April 2025 certainly made many rethink their commitment to the card.

For those focused only on KrisFlyer miles and who don't exceed bonus caps on other cards, it may be time to move on. The sad reality is that the HSBC Revolution is now largely redundant for the average consumer.

Who Still Benefits?

Despite the setbacks, there remains a niche group of users who can still find value in the HSBC Revolution Card. If you are looking to collect miles from programs other than KrisFlyer, there are still ways to maximize the value despite its restrictive bonus policy.

MileLion Verdict: 💔 Leave It

While it’s possible to navigate around the card's limitations, the general consensus is that for the majority of users, the HSBC Revolution Card can be easily ignored. However, this doesn’t mean it has no redeeming qualities.

Pros and Cons

Pros:

- Earn 4 miles per dollar (mpd) on MCC 5311 transactions, which includes specific voucher purchases. - Lifetime waiver of the annual fee. - Instant points conversions without any fees. - Access to 20 airline and hotel transfer partners.

Cons:

- The bonus whitelist has been drastically reduced, limiting earnings to only a few spending categories. - All bonuses now apply only to online transactions. - Devaluation of KrisFlyer miles. - Discontinuation of complimentary travel insurance starting April 2025.

Card Overview

- Income Requirement: S$30,000 p.a. - Annual Fee: None (waived permanently). - Points Validity: 37 months. - Transfer Partners: 20. - Max Transfer: 25,000 HSBC points (10,000 miles).

In-Depth Breakdown

The HSBC Revolution Card targets individuals with an annual income of at least S$30,000. For those without that level of income, a secured card option is available for S$10,000.

Previously charged an annual fee of S$160.50, both principal and supplementary card options are now free, making the card less of a financial burden.

Current Promotions

New applicants can benefit from welcome gifts that include notable cashback rewards or premium items, provided they meet the monthly spending requirement after card approval.

Earnings Potential

Cardholders generally earn 1 HSBC point for each S$1 spent, translating to 0.4 airline miles for both local and foreign transactions. However, bonus categories such as online shopping can yield an impressive 4 mpd, but with a cap of S$1,000 a month. Spending above this limit earns only the base rate.

The Importance of Merchant Codes

With a whitelist policy in place, users must verify the merchant category codes (MCC) to maximize their earnings. Transactions must be aligned with a specific list of codes to qualify for bonus points.

For example, while you can still earn rewards through selected online retailers or via voucher services like Heymax, utility and travel functionalities have been greatly stripped down.

Alternative Strategies

Creative strategies can still yield benefits. For example: - Purchasing gift cards from designated platforms can generate bonus points. - Utilizing apps like Atome for transactions may also categorize them favorably within the whitelist.

Final Thoughts

If you primarily seek to earn KrisFlyer miles, you may want to consider other credit cards that offer higher points per dollar spent without the convoluted restrictions. However, if you are open to utilizing alternate programs and are willing to navigate around the numerous limitations, the HSBC Revolution Card still has some value.

In conclusion, while it may have once been a contender, the HSBC Revolution Card is now best labeled as a "leave it" option for most consumers. With so many other competitive options on the market today, don't hesitate to explore alternatives that may better serve your mileage needs!