HSBC Weekend Card - Frugal Weekend Savings?
by Mr Credit CardHSBC has just introduced a new card called the HSBC Weekend Card. It is a cash back credit card but with a new twist :
This is how it works. If you use the card on weekends (ie Saturdays and Sundays), then you will earn 2% rebates on your weekend purchases. When you use your card on regular weekdays (ie Monday through Friday), you will earn 1% rebates. Furthermore, you can earn unlimited rebates with this card and the rebate points do not expire.
This is the first cash rebate card of this sort and I think the idea is pretty novel. It gives those who tend to do their grocery shopping or any other type of shopping over the weekend a great way to earn higher cash rebates than a regular credit card.
However, I think it is best to use this card in combination with another card that pays a higher rebate on certain types of expenses. For example, the Chase Freedom Card pays 3% rebates on gasoline and supermarket purchases. Hence, it would be a great idea to combine these two cards.
Some of you (especially stay at home moms) will tend to do your groceries and other shopping during the weekday. So this card will probably not suit you if you are not a weekend shopper.
Kudos to HSBC for coming up with such a novel idea. It gives a new twist and meaning to “Frugal Weekend Shopping”!
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June 7th, 2008 at 10:05 pm
The HSBC weekend card is a rip off. If you use your weekend card on Saturday and Sunday, you will probably earn $0 as a bonus. They advertise if you charge items Saturday and Sunday, you will earn 2% cash back. Here’s how HSBC rips you off: those charges almost always “hit” your card on Monday and you get no bonus. HSBC holds on to the charges and doesn’t apply them to your card until Monday after the discount bonus window is closed. This company is a rip off. Don’t waste your time with this card.
September 18th, 2008 at 1:45 am
Yeah, I hear ya. HSBC is a huge rip-off! They “lost” one of my payments, then jacked my APR sky high. Even after I faxed them proof of payment they refused to lower the APR. Their “managers” need some serious help in the “customer relations” department! Do yourself a favor, get a different card. There’s plenty of other (much better) cards to choose from.
November 19th, 2008 at 4:17 am
I’m a grad-student and I have been paying for my school out of pocket, until I decided to get this card. I thought, hey I can pay my $2500 tuition with this card and then pay it right off from my bank account, AND get a check in the mail for $50 (becasue on a weekend it’s as if I spent $5000)! I seriously thought it was too good to be true, so I got the card and I pay my tuition each semester with my card online over a weekend, and I get the check each time! I also use it for everyday spendings and got my monthly gym & cell bills automatically deducted from the card (since I was paying for all this stuff directly from my bank acct), and it really all adds up. I also make it a point to make most of my purchases on weekends. I have had the card since July 2008 and I have gotten a check from HSBC every single month so far. I did my research on other cards and the points system sucks because you don’t get cash - you have to pick out junk from a catalogue, like a blender or cheap camara. I also wasn’t impressed with the travel rewards (flights, etc.) because, as a student, I could really use cash instead. Honestly, I think this is the best card offer out there. And the review where they said the weekend purchases don’t post until Monday is a load of crap. I mean, yes, they may still be pending for a few days before they are final approved; but the rewards count for the day of the purchase. (I actually read that review before I got the card, and that’s one reason why I was skeptical about it.)
November 19th, 2008 at 4:23 am
Oh - but I must agree that their customer service REALLY SUCKS. When I got the card I called with some questions and litterally couldn’t understand the guy, and he was rude. Obviously English was not his first language, but I haven’t had to call them about anything since. I can definitely see how that would be a problem if I ever did have to call
But seriously it’s not a rip off and I actually think it’s brilliant!!!!!