Consumer complaint received 2016-11-27
Product: Credit card — 
Issue: Rewards — 
Company: HSBC NORTH AMERICA HOLDINGS INC. (NY)

This is a small matter, and it happened last year, but I have found it to be greatly aggravating. Related thereto : How would you like to delve into the world of credit card " bonus points '' and related cash-back offers? 

The situation is as follows : In XXXX of 2015 I opened a new account at an HSBC bank branch on XXXX XXXX XXXX in XXXX. Because my initial deposit was rather large, I became a new " premier '' customer. As such, HSBC gave me a new credit card and said that I 'd get " XXXX points '' that I could turn into a {$250.00} cash-back ( or {$400.00} in airline tickets ) if I spent more than {$2500.00} in the first three months. I spent the required amount, but HSBC refused to give me the bonus points ( and therefore I did n't get the cash or airline tickets ). I spent my {$2500.00} during the three months after I had received the card in the mail, but HSBC said that I needed to have spent the {$2500.00} during the three months that began immediately upon the day I had signed up for the card at the HSBC branch. [ It took more than ten days for the card to arrive to me in the mail. * How did HSBC expect me to start spending when I had n't received the card yet? ] In order to understand this, I initially called the phone number on the back of the credit card. After some discussion, I was told that they would not award me those bonus points. I then went into the bank branch in order to question this decision. The branch manager was sympathetic, but after he spoke to HSBC 's credit card back office he told me that they refused to budge on this matter. 

As a result of this -- which I consider to be a betrayal by HSBC -- I took all of my money out of my HSBC bank accounts and I cancelled the credit card. And I 've promised myself to never have another banking relationship with HSBC again. But those things are immaterial to the fact that I still think that I was entitled to the {$250.00} cash-back. 

HSBC had made a big deal when I started that I had a " premier relationship '' and a dedicated Premier Relationship Manager at the branch. That person has changed since I opened my accounts there, and the new Relationship Manager kicked the ball to the branch manager who -- as I said -- was unable to intervene in this simple dispute and get it resolved in my favor. [ Parenthetically, it has become clear to me that the " premier relationship '' at HSBC is worthless. ] And even without a premier relationship, I would have expected that " reason '' would apply to this situation. You ca n't spend money with the card if you have n't received it yet. Three months should begin when you receive the card ( I 'm pretty sure that such deals, when offered by other credit card companies, work that way ). 

People at the CFPB, if you wish to follow up with me on this, my contact information is shown elsewhere in this complaint. And thank you for your time in reading this note. 

Sincerely, XXXX ( " XXXX '' ) XXXX Phone : XXXX ____________ * I have handwritten notes in my files that indicate that I " initialized '' the card on XXXX/XXXX/15. That 's the date I called HSBC to indicate that I had successfully received the card ; and ( to my way of thinking ) that should have been the date upon which the three months began. My notes also indicate that I changed the PIN on the card on XXXX/XXXX/15. [ I can only imagine that HSBC has electronic records of both of these events, and the dates they occurred. ] I subsequently spent {$2500.00} ( with the last bit of spending -- that put me over the {$2500.00} line -- having been done on XXXX/XXXX/15 ). Again I say that conventional wisdom would dictate that such a " bonus points '' deal applies to the first three months that you have the card ( but it seems that conventional wisdom does n't exist at HSBC ).