Breaking news – a new UK Mastercard offering 1 Avios per £1 spent

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• James Smith says:

  30 Sep30 September 08:22

  It’s actually
  1 Point = 5 Avios

  • JK says:

    30 Sep30 September 08:28

    It’s weird… On the one hand, the text says “Every £1 spend on your HSBC Premier Credit Card is worth 1 airline Frequent Flyer mile”.

    Yet, when you click on the link “how to convert your points” link – you’re right, it does show the 1 point = 5 Avios…

    I’m not sure which to believe? At 1:1, I probably won’t bother! And 1:5, I’ll definitely bother and move some of my banking/investments!

    • JK says:

      30 Sep30 September 08:33

      Actually, even the T&C’s say 1:5…

      “7. HSBC Premier Credit Card Reward Points redeemed as part
      of the Miles Programme will be redeemed at a rate of 1 Reward
      Point for 5 miles. HSBC Bank plc may, at our discretion, change
      the redemption rate by giving you at least 30 days written notice,
      which includes statement messages.”

      If this is the case, HSBC are screwing up massively by not making this clearer. I almost entirely discounted this after seeing their requirements and thinking I wouldn’t bother. At 1:5, I’d probably consider moving some of my banking activity to them, and sayōnara AmEx!

    • Rob says:

      30 Sep30 September 09:46

      The old scheme was 1 point per £5. It is now 1 per £1. Hence the odd text – the ‘old’ points convert at 1 to 5.

• Scott says:

  30 Sep30 September 08:23

  Wow, VERY steep criteria. Perhaps the steepest in the industry?

  The easiest of which being:
  “- an investment, life insurance or protection product”

  It might be worth taking life insurance out with them just so you can get the card.

• Paul says:

  30 Sep30 September 08:24

  Wonder if it will be offered to existing Premier customers?

  • James Smith says:

    30 Sep30 September 08:25

    Yes it is – I just transferred 65 points to 325 avios

  • Rob says:

    30 Sep30 September 09:45

    Yes, full roll out starting today

• Waldek says:

  30 Sep30 September 08:34

  100k annual income, sorry i got only 96k.

  • John says:

    30 Sep30 September 21:02

    Or 60k savings…

• Brian says:

  30 Sep30 September 08:47

  Presumably, you get 1 point for 5 pounds of spend, making it 1 Avios per pound…

• What's the Point says:

  30 Sep30 September 08:50

  Reading a little closer, its seems its an Either/Or on the £100k income vs £50k savings

  HSBC Premier (which is I believe how you get this card) is available to you, as long as you pay your annual income into your HSBC Premier Bank Account and either:

  -have savings or investments of at least £50,000 with HSBC in the UK;
  or
  -have an individual annual income of at least £100,000

  and one of the following products with HSBC in the UK:
  – a mortgage;
  – an investment, life insurance or protection product;

  Massive hurdles to get this card, but well worth if its a 5:1 conversion!

  • Brian says:

    30 Sep30 September 08:54

    The page Raffles provides the link to clearly states that you get 2 points for every 10 pounds you spend. Therefore, if you get 5 Avios per POINT (not per pound), it’s 1:1. So nothing to get too excited about, I’m afraid, since it’s no better than the AMEX deals. Yes, it’s a Mastercard, so you can use it in places which don’t accept AMEX, but whether it’s worth all the hassle is something I doubt. Certainly not worth taking out life insurance or other products just to get the 1:1 rate on spend at places which don’t take AMEX.

  • Jimmy says:

    30 Sep30 September 08:55

    Its1:1 see

    Earn two points for every £10 spent on the card and save up to treat yourself or someone you love. Go on a spree with shopping vouchers for stores like M&S, Amazon and Boots. Sample a special selection of wines and champagnes from Laithwaites. Jet off with Reward for Miles or take that feel good factor even further and donate your points to charity.
    View our Premier Credit Card Rewards and Benefits for full details.

    Or

    Reward for Miles
    You can earn one airline frequent flyer point for every £1 spend on your HSBC Premier Credit Card when you use your reward points towards Reward for Miles. Simply redeem with our selected partner airlines and you could be jetting off to your favourite destination.
    View our Premier Credit Card Rewards and Benefits for full details.

    So £10= 2points = 10avios or £1 = 1 avois

    • Frenske says:

      30 Sep30 September 09:49

      Actually it is probably worst. When you buy something for £9.99 you get zero comma zero points. So it possibly to spend £1000 and earn 0 Avios.

• hegardav says:

  30 Sep30 September 08:52

  Think people might be misreading here on the £1 spend = 5 Avios. What it apears to say is “earn two points for every £10 of eligible spend” and each point gives 5 Avios, which is exactly £1 earning 1 Avios (it does also make clear that “Every £1 spend on your HSBC Premier Credit Card is worth 1 airline Frequent Flyer mile”).

• avidsaver says:

  30 Sep30 September 08:52

  Yep! From what I can see it is 2 points for every £10 spent which does indeed equal 1 avios per £1. Not much to write home about!

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