Up to 5% Cash Back with

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HSBC Direct 1.65% APY Online Savings Discuss (16)

HSBC Direct 1.65% APY Online Savings Discuss (20)

You have to spend over $6500 to qualify for the 5%. If not, then you get only 1% on the three categories and only 0.5% for everything else. Not a good deal unless you are a spender with big SUV and health problems

Or a traveling consultant. I spend over $50,000/year just doing that, and AmEx loves my butt. I have well into 6 figures of points.

Tried this for two years, not as good as chase freedom card.
Even the Citi Diamond rewards card is better.

The blue card looks cool but theres a lot of fineprint.

#2:

No truer words have been spoken: "The BS"

WB

FYI Do not apply for this card if you have ever filed for BK. THey will not accept your application even though you have a fico score of 700. I spoke the the customer service personel before applying and they informed me that it was decided on an individual basis, but once I submitted my application they denied my application for credit.

#5
past history is a good indication of future performance; that's why you were denied.

you will get continuous spam phone calls...that won't go away.

Only good thing is the 1 year extended warranty on products you buy.

I've had this card for over a year now and love it. Who honestly spends less than $6500 in a year? Cheap lifestyle I guess...

I love getting a check at the end of a year... cheers me up u know? U have to be an idiot not to want this card or a similar one from another company.

0.00% Introductory APR for 6 months on purchases. If it were 1yr then I might have considered

This card is awesome. The 1 year extended warranty is great. If an item breaks in the year after the warranty is up they just credit your account for what you paid for the item. Half of the time they do not even ask you to send it to them. Also great is the return protection. If you buy something and the merchant will not take it back, they will handle it for you. Also if it is broken or stolen in the first 90 you are covered. It is very little hassle to turn in these claims.

You can only get 5% back if you carry a balance, which I do not do. Still you can max out at 3%. Only the first $50,000 of spending counts for the reward, and I max it yearly. I get about $800 back a year.

They have been super generous with their credit limits for me. I have done 3 balance transfers at 5.99%, 3.99%, and 1.99% to finance rental houses. It has saved me thousands in closing costs vs getting mortgages and I have better rates than I could have ever gotten for little rental houses. Add to that the fact that the debt is unsecured. Now I own the houses unencumbered.

woodbutt wrote:

#2: No truer words have been spoken: "The BS" WB

I live in Orlando and work on Wall Street.

It's very easy to rack up over $50K/year in expenses flying out and out of Newark every week and living in a hotel during the week.

Search my e-mail on LinkedIn if you feel compelled.

"compelled": I'm not.

Sheesh. Why would anyone choose to live and work in two shit holes and then fly between them. I don't suppose they phones or internet in Orlando.

WB

woodbutt wrote:

"compelled": I'm not.

You were compelled enough to question.

woodbutt wrote:

Sheesh. Why would anyone choose to live and work in two shit holes and then fly between them.

And where would you live and work?

woodbutt wrote:

I don't suppose they phones or internet in Orlando.

Can't remember the magazine, but Orlando is considered the 2nd most connected city in the US (2nd to Atlanta), and New York was #3 or #4.

#10. I believe you are wrong about getting 5% only if you carry a balance. Here is the disclosures directly from the American Express site:

Your rebate is awarded annually for each Rebate Year (12 consecutive billing periods). Rebate percentages for each Rebate Year are as follows:

Year to Date Purchases: Cash Back on Everyday Purchases Cash Back on All other Purchases:
$0-6,500 1.0% 0.5%
$6,501- or more 5.0% 1.50%

*For the first $6,500 of annual purchases, the rebate is 1% for Everyday Purchases and 0.50% for all other Eligible purchases; for Eligible purchases of $6500.01 or more, the rebate is 5% for Everyday Purchases and 1.5% for all other eligible purchases. "Everyday Purchases" are Eligible Purchases made at S supermarkets, gas stations and drugstores, in each case that are not departments of superstores or warehouse clubs. "Eligible Purchases" are charges to your account for goods or services that have not been returned or otherwise credited to your account. Eligible Purchases do not include Finance Charges, fees, Cash Advances or other means of accessing your account, convenience checks, Balance Transfers, or the purchase of American Express® Travelers Cheques and American Express® Gift Cheques or other cash equivalents. Additional terms and conditions apply.

I also checked the American Express site and it says there is no limit to the amount you can earn. So the statement that only the first $50,000 in purchases count is incorrect. Even in their on-line calculator, they have purchases up to 72,000/year which is clearly over the 50,000 that #10 states.

yeah there is no limit, and you dont need to carry a balance. I have this card and use it most of all my cards. I do wonder if there is something with 'more incentives' what ben talks about in the description though. i dont know a card that gives more than 1.5%.

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