HSBC enhances credit card rebate programme in Taiwan

It will allow cardholders to exchange every NTD from cash rebate for two airline miles.

HSBC Taiwan revealed that it will pump up its cash rebate programme geared towards credit card holders to seal their competitiveness in a saturated market, reported Taipei Times.

The new programme will allow holders of the HSBC Cashback Signature Card to exchange every NTD they earn from the bank’s cash rebate for two airline miles or to prefer to offset their next credit card bill, HSBC Taiwan retail banking and wealth management head Linda Yip explained.

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“We want to give consumers more freedom and choice,” Yip said, noting that only a few banks in Taiwan allow customers to exchange cash rebates for air miles.

Meanwhile, HSBC senior vice president Mike Huang noted that fewer than a million Taiwanese have applied for credit cards with airline miles incentives as customers cited hindrances such as requiring cardholders to redeem miles within a certain time frame.

“Taiwanese like money and traveling, so we combined the rewards,” Huang said. The bank also explained that it has not set a time limit for air miles redemptions and would allow cardholders to redeem even a single mile.