HSBC Advance Visa Platinum Credit Card to Become Cashback Card from July 2017

The HSBC Advance Visa Platinum Credit Card is dead (for mile-chasers anyway) and it will become a cashback card soon - the 4 miles per dollar promotion will end officially on 31 May 2017 and you will only earn 1X (0.4 miles per dollar) Rewards point with eligible dollar spent in the month of June 2017. You will have to redeem all your Reward points by 31 August 2017 or they will be converted into cashback on 01 September 2017 at a 100 Reward points to $0.25 rate. 

Photo Credit: HSBC

Photo Credit: HSBC

Obviously this is a terrible move (but I presume the bank has been losing a lot of money from this promotion) and I will definitely be moving money out of the HSBC Advance account but in the meantime, the OCBC VOYAGE Card offers 2.3 miles per dollar on food which is not a bad deal considering how the UOB PPA is no longer available for application. It's time to move back to DBS and UOB credit cards. Thanks HSBC, it has been a fun (albeit short) ride!