Addendum as published on July 6,2011:
Effective August 8, 2011, rules on redemption on HSBC Cathay Pacific Travel Gift Certificate changed.
- One must buy one ticket with Cathay Pacific
- On the same day, redeem with required slips (below) for the Take One.
- The credit card used to pay the "Buy One" must be the same cardholder's name of the slips redeemed on the "Take One"
Credit Card instant rewards in the Philippines has gone crazy. Now, it's not just free starbucks coffee, free movie tickets, points, brownies, shoes...
HSBC has launched it's new promo, with a tie up with Cathay Pacific Instant Rewards. I was toying about this idea when I was trying to conceptualize a marketing scheme with our credit card merchant and viola, a wanderlust like me, would bite this!
Here's the details of the promo of Cathay Pacific Instant Rewards, your ticket to the world by HSBC:
HSBC's Travel Gift Certificate with Every Swipe Feature
General Terms and Conditions:
- HSBC's Free Round Trip International Travel Ticket with Every Swipe Feature (the "Feature") is an instant rewards spending feature open to primary and supplementary cardholders of HSBC Core Visa credit cards and HSBC Premier MasterCard issued by HSBC Philippines (hereinafter referred to as "Cardholders").
- The Feature will start on February 14, 2011 ("Start of Feature"). Redemption of the instant reward begins February 14, 2011 ("Start of Redemption").
- Cardholders can qualify to get Free Round Trip Ticket ("Round Trip Travel Ticket") to various international destinations under the Feature. The redemption of the Travel Ticket is subject to seat availability and may be claimed at Cathay Pacific ticketing offices only.
- HSBC shall shoulder travel taxes and surcharges amounting up to $50 for Hong Kong and up to $100 for all other destinations. Any amount in excess shall be shouldered by the redeeming cardholder and must be charged to a valid HSBC credit card.
- All charge slips must be redeemed within ninety (90) calendar days from the date of purchase or transaction. • Purchases may be for straight retail transactions or installment transactions
• Foreign currency transactions and other transactions with no credit card charge slip such as, but not limited to, Auto Charge, Balance Transfer, Cash Advance, Internet and Mail Order/Telephone Order are excluded from this Feature
• Cathay Pacific will not honor redemptions using official receipts or the HSBC Statement of Account
- To redeem the Round Trip Travel Ticket under this Feature, the Cardholder must present his/her HSBC credit card and surrender the required number of valid and original credit card charge slips (Customer's copy) of qualifying transactions at Cathay Pacific ticketing offices.
- Upon redemption, the HSBC credit card will be validated against the credit card charge slips presented. The credit card details on the charge slip must match with the HSBC credit card presented. Redemptions will not be honored if the Cardholder is unable to present his/her HSBC credit card, or if credit card details on the charge slip do not match the details in the HSBC credit card presented.
- Splitting of a single transaction for the purpose of generating multiple charge slips is prohibited. Redemptions from such charge slips shall be deemed fraudulent.
- Faded charge slips will not be honored for redemption.
- The Cardholder will be charged the cost of the Travel Ticket redeemed based on current Cathay Pacific’s published rate should the Cardholder cancel any of the qualifying transactions at a later date. Similarly, if his/her redemption is found to be fraudulent, such as but not limited to: duplication of charge slips and/or splitting of one (1) transaction into several approvals/charge slips, HSBC reserves the right to charge the cost of the redeemed Round Trip Travel Ticket based on current Cathay Pacific’s published rate to his/her HSBC credit card.
- HSBC and/or Cathay Pacific shall not be obliged to recognize or replace any unissued, misplaced, lost, stolen, or faded charge slips.
- In case of dispute in respect of the Cardholder’s eligibility, coverage of dates, fulfillment, etc., HSBC's decision shall prevail. All questions or disputes regarding the Cardholder’s eligibility for the Offer or for any redemption shall be resolved by HSBC at its sole discretion. Any dispute concerning the products and services of Cathay Pacific shall be settled directly between the Cardholder and Cathay Pacific.
- Cathay Pacific’s ticket fare rules apply. Tickets redeemed are subject to Cathay Pacific terms and conditions.
- Iloilo: G/F Arthur's Suites, Gen Luna Street Iloilo City
^Call: 63(33) 335 1838
- Davao: 3F Metro Lifestyle Complex, corner F Torres and E Jacinto Extension Davao City
^Call: 63(82) 2228901
- Cebu: 12F Ayala Life FGU Centre Mindanao Avenue corner Biliran Road Cebu Business Park Cebu City ^Call: 63(32) 2313747
- Manila: 22F LKG Tower 6801 Ayala Avenue Makati City ^Call: 63(2) 757-0888
The fineprint isn't too bad. Now tell me, is it worth the switch?
P.S. does dragonair fly to the Philippines?
P.P.S.: from a business standpoint, this is such a bold and I say reckless move by HSBC, for P150,000, I can get a free trip to South Africa and they barely earn P7,500, how did they do the math?
| Charge Slips Requirement | HSBC Credit Card Type | Cathay Pacific Destinations |
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3 comments:
I just learned from Cathay Pacific Air that the last travel departure date (availed from this promo) shall be June 30, 2012.
the concept is the same as the piso fare. if they can earn.. then cathay and hsbc can definitely earn.
the concept is the same as piso fare, if they can earn then hsbc and cathay can definitely earn. they(cathay) allot 10% of the total seats to hsbc (at a very special rate, like the piso fare) thus guaranteed them a 10% occupancy every time. then hsbc earns the 3% but its too small right? but behold, the premier clients is where they really earn, a minimum deposit of 4M to get that status, then multiply that by lets say 100k premier clients, then do the math of earning 1% of that activity every month :) its a simple economic activity actually and everybody ends up a winner.
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