Yesterday I got a replacement card via mail from HSBC. I was surprised when I took out the card from the envelope. It was a Classic Visa – Not the Mabuhay Miles like I used to have.
Included in the envelope was a letter saying that HSBC and Mabuhay Miles will be Parting Ways Effective 15 July 2011. I know that this is bound to happen eventually since Mabuhay Miles belongs to the Lucio Tan group of companies - Philippine Airlines, PNB, Allied Bank, ETON, etc. It was just a matter of time. And it does make sense that they keep everything inside their fence.
Below is the Mail from HSBC.
- Your Mabuhay Miles Visa Card will only be valid until 15 July 2011 (HSBC will probably replace your card prior to that date)
- Your Existing Mabuhay Miles Points can still be redeemed for your Mabuhay Miles account once you receive your new card
- You can still earn Mabuhay Miles by Converting your HSBC Classic Cards Points to Miles. Originally P45 is equivalent to 1 Mile. Now, P10 is equivalent to 1 Point. You need 4 Points to get 1 Mabuhay Mile. Simply, P40 Pesos for a Mile. Lower than before but still higher compared to the new Mabuhay Miles Card Offered By Allied Bank (P33 per Mile).
This is bad for HSBC especially for those who hang on to their cards mainly because of the Mileage Program. Also, the removal of the Mabuhay Miles card will cut their already limited credit card line-up. Now, HSBC customers can only choose between HSBC VISA/MASTERCARD Classic/Gold Cards and Their HSBC RED MasterCard. Compare that to the long line-up of co-branded cards of Citibank, BPI, and BDO!
BUT, to mitigate the exodus of their cardholders to other card companies, HSBC offers 2 very enticing features/promos on their cards.
First is their STARBUCKS PROMO:
For every 2K Charge Slip Dated 01 February 2011 Onwards Surrendered to any Starbucks Branch, you’ll Get a Tall SB Beverage of your Choice. This promo will be ongoing until further notice. (Similar to the Citibank Movie Passes Promo). See image below for the details.
Second is their CALTEX REBATE PROMO:
This works in two ways. First, For every 2K Charge Slip Dated 01 February 2011 Onwards Surrendered to any Participating Caltex Stations, you’ll get instant P100 rebate on your purchase. Second, Whenever you use any of your HSBC cards in any Participating Caltex Stations, You get 3% rebates on gas purchased which will be reflected on your next billing statement. This will also be an ongoing promo. See image below for the details.
For those Mabuhay Miles Die-Hard Fans, or those who don’t want the complex points to miles conversion, you can still get a dedicated Mabuhay Miles Card Via Allied Bank. They offer the same service but the Peso to Miles conversion is lower. Instead of P45, you only need P33 for every mile.
How about you are you going to miss your Mabuhay Miles Card? “Ikaw din, Sayang ang Miles!”
Originally Posted On: www.DENCIO.com