HSBC Revolution Changes May 2024 | Still Worth it?

HSBC Revolution Changes May 2024 | Still Worth it?

Written by
Demi Zhuang
Date published
April 2, 2024

Removed from 01 May 2024

5814 (Fast Food) 5411 (Grocery Stores/Supermarkets) 5499 (Misc Food Stores – Default)


Still Worth it? 🤔

It used to be easy using this card for our everyday spending without having to think too much into it. Not so much any more… It’s annoying but generally, ✅ Dining at Restaurants, ✅ Bakeries (5462) will count for 4mpd / 2.5% Cashback.


Qualified Categories for 10X Reward Points

from 01 May 2024

💄 travel e.g. airlines, some hotels

👗 department & retails stores

🛒 supermarkets

🍽️ dining

🛵 food delivery

🏋🏻 membership clubs

🚌 transport - taxi

What Benefits are there Left?

✅ Versatile — Cashback or Miles, Choice is Yours

Accumulate in points first, if you’ve later, decided you don’t want cashback or miles you can switch around between the 2.

✅ No minimum Monthly Spending

No more going close to month end and you’re like ‘OMG, I’ve another $100 to spend in order to get 8% Cashback’ (😏 can you guess which card is this? haha)

✅ Additional 1% Cashback with the HSBC Everyday Global Savings Account

This is the 💎 of HSBC…

this also goes away from 02 May 2024…

HSBC Revolution Credit Card
10X Reward Points
4mpd or 2.5% Cashback
Monthly Cap
Annual Income Requirement
Annual Fee
The usual Credit Card exclusions do apply. Refer to full T&C’s point 4.

Will I Still Use the HSBC Revolution?

Yes but as a backup card, for Dining out at restaurants, bakery purchases, travel ticket bookings, if I ever take a cab.

No more - Supermarkets (5411), Misc Food Stores (5499) and Fast Food (5814)

Miles perspective

I’m choosing

  • Citi Rewards + Instarem Amaze to be my default card for 4mpd, cap at $1,000
  • UOB Preferred Platinum Visa is another alternative you can look at too


I’m sorry ‘no minimum spending’ individuals… The next best I think would be

Given the current prices of everything to be honest, I’d spend $600 or $500 a month with UOB EVOL or UOB One respectively giving 6.67% Cashback or 3.33%?

How does HSBC Revo’s Reward Points work?

Credit Period
When transaction gets posted
9,000 points
By last day of the following calendar month
Points Expiry
37 Months
Pools with other HSBC Cards
Transfer Fee
S$43.60 / year
Min. Transfer
25,000 Points = 10,000 Miles
Available Partners
KrisFlyer Asia Miles

What can you Redeem the Points for?

Full List here, I picked out a few main ones —

  1. Offset your Credit Card Bill
    • 4,000 Reward Points for SGD10 (🚨 Promotion rate 280 points = S$1, not sure till when but this brings the cashback rate to 3.57%!)
    • every incremental SGD1 at 400 rewards points thereafter
  2. Redeem Miles & Hotel Stays
    • 10,000 KrisFlyer Miles for 25,000 Reward Points
    • Raffles Hotel, W Singapore, The Capitol, St Regis
  3. Vouchers
    • Grab food and ride
    • Lazada, Amazon, Sephora
    • Starbucks
    • and more…

this is gone from 02 May 2024, no more 1% Cashback for HSBC Credit Card spend

HSBC Everyday Global Savings Account

😇 For an additional 1% Cashback. There’s so many use cases for this and if you’re not already on it, you’re really missing out…

The Everyday Rewards Programme provides additional 1% Cashback on

  • Transactions in SGD on HSBC Credit Card
Cashback on GIRO Bill Payments (🤫 Open Me!)
  • You can arrange eGIRO to pay off your Credit Card Bills and earn 1% Cashback
  • I arranged mine to pay off my DBS Credit Card Bill. The DBS Credit Card pays off all my other Credit Card Bills

    🎥 Video Guide on this here

  • Visa Transaction on the HSBC Everyday Global Debit Card
  • (with exclusions)
  • Bonus Interest (Full terms in page 3 here)
🚨 Cashback is capped at S$300 / S$500 per calendar month for Personal Banking / Premier Customers. 🤫 i max this out every month

How to enrol into the programme?

Deposit S$2,000 into the Savings Account via salary crediting and/or inward transfer from non HSBC bank account + 5 Eligible Transaction in the same calendar month:

  • Posted Transaction in SGD on a HSBC Credit Card
  • Posted Transaction with HSBC Everyday Global Debit Card
  • GIRO bill payments (eGIRO)
  • Fund Transfer from HSBC Account to non-HSBC Account

How I do it?

Transfer in $2,000 then transfer out in $400 for 5 times. You’ll receive a message from HSBC 1-2 days after to mention you’re enrolled until X date.

How Much Miles I’ve Earned using the HSBC Revolution in 2023

42,255 points
Spent $4,225.50
16,902 miles

💡 SQ Biz Class from SG - Korea cost 52,000 miles

if this helps to put it into perspective 😅

🎥 Videos I’ve Done

Recent update removing some qualifying Travel MCCs , is the HSBC Revolution still a keeper in 2024?

New to Miles? You MUST have a Plan on How you’re going to accumulate. Watch how I did this for myself.

How Much Miles I Accumulated on the HSBC Revolution Credit Card in 2023