Cc rewards devaluation not just restricted to India.,!

HSBC EGA ends 1% cashback for credit cards, adds GIRO restrictions

The HSBC Everyday Global Account (EGA) is one of the best-kept secrets out there, because it’s basically a free S$300 or S$500 each month for very little effort on your part. 

How it works is simple: make a minimum deposit to your EGA and five transactions on your HSBC cards, and enjoy an extra 1% cashback on your card spending and GIRO bill payments. Oh, and you can withdraw the deposited funds immediately and park them elsewhere if you wish.

This means that you could basically earn 4 mpd + 1% cashback with the HSBC Revolution, while enjoying a 1% rebate on your non-HSBC credit card bills. What’s not to love?

Unfortunately, there’s changes coming to the EGA from 2 May 2024, when only HSBC Everyday Global Debit Card spending will qualify for the extra 1% cashback. But it’s not nearly as bad as we first feared, because the exclusion of non-HSBC credit card bills for GIRO payments has not come to pass.

https://milelion.com/2024/04/03/hsbc-ega-ends-1...