30% Avios Transfer Bonus from HSBC's Premier Rewards Program
Today through July 31, you can transfer your HSBC Premier Rewards Points to British Airway's Avios and get a 30% transfer bonus. In the good old days, we used to get big transfer bonuses from Amex up to 40-50%. The Amex/Avios transfer devaluation made us all miss these even more!
HSBC PREMIER REWARDS PROGRAM
The only reason I have the HSBC Premier card is because it was a package deal when opening my account and getting a mortgage. Even after you downgrade to the regular checking account, the credit card doesn't get downgraded. The points can be transferred to 3 airlines: Asia Miles, British Airways Avios, and Singapore Airlines KrisFlyer. Without the transfer bonus, there are better options (below).
HOW TO GET THE TRANSFER BONUS
- Go to HSBC's Rewards website and you should see the banner at the top.
- Click REDEEM NOW
- Enter your information. The confirmation will not show the 30% bonus but the fine print says the bonus will arrive in 15 working days: “Confirm your request, and your Rewards for Miles plus an additional 30% will be credited to your British Airways Executive Club account within 15 working days.”
Valid: July 1 – July 31, 2016
SHOULD YOU TRANSFER YOUR POINTS?
I think this is a good deal if you have a plan to use your Avios. I'm not going to do it because I like having the flexibility to pay for any flight without having to find availability and being restricted to certain airlines.
REDEEM POINTS FOR FLIGHTS
Points can be redeemed to pay for airfares for when you have to pay cash. This gets you $0.016 per point value and lots of flexibility. Perhaps there is no award availability or you don't have enough points, or maybe you just don't feel like searching.
There is also an option with the same values, to get $ off any airline ticket, however, you need to book through HSBC's rewards center. I rather avoid that and just book with my preferred airline or website.
Are you going to transfer your points?