The conversion ratio between the HSBC World Elite^® Mastercard^® and the RBC Avion Visa Infinite Card is now known:

1 HSBC Rewards point = 0.36 RBC Avion Rewards point

As a reminder, 25,000 HSBC Rewards points had a value of $125 in the flexible travel redemption category, or 0.5 cents per HSBC Rewards point.

Those same 25,000 HSBC Rewards points are now converted into 9,000 RBC Avion Rewards points, which theoretically would have a value of $90 in the flexible travel redemption category, or 0.36 cents per HSBC Rewards point.

Theoretically! Because there’s a nuance when it comes to point redemption since the value will not be 1% (100 points = $1) but 1.5% (100 points = $1.5).

As a result, you’ll come out ahead thanks to this improved points exchange rate: 0.36 x 1.5% = 0.54 cents per HSBC point (compared with 0.5 cents in the past).

RBC sent a personalized email to each customer migrated from HSBC to RBC:

Your HSBC Points have been converted into RBC Avion Points. Your points balance may be different, but rest assured that your Avion points are of equal or greater value, as shown below.

Your card: RBC Avion Visa Infinite Card

Final HSBC Points balance: $227,839 | $1,139 travel value

Conversion rate used: 1 HSBC point = 0.36 Avion points

New Avion points balance: 82,023 | at least $1,230 in travel value

Later in the e-mail, RBC explains that the Avion Rewards redemption rate will be higher than usual: 1.5% (100 points = $1.50) instead of 1.0% (100 points = $1).

Indeed, in this case, the value obtained is slightly higher than via HSBC Rewards: 0.54 cents instead of 0.50 cents per HSBC point.

The difference is that you absolutely have to use the Avion Rewards Travel website to book your flight, hotel, or car rental. In contrast, with HSBC Rewards, it was possible to book wherever you like, including for other types of travel such as Airbnb.

This 1.50% redemption rate is confirmed when you go to Avion Rewards to book a trip, as in the example below:

Further on, RBC reminds us of the alternative method of using Avion Rewards points via the Avion Fixed Points Pricing schedule for flights. Here, too, you’ll find a higher-than-usual maximum exchange rate.

The conversion ratio between the HSBC +Rewards Mastercard and the RBC ION+ Visa Card, and of the HSBC Travel Rewards Mastercard^® and the RBC ION Visa Card is also known:

1 HSBC Rewards point = 0.88 RBC Avion Rewards point

So, before you say it’s a huge difference with the conversion seen above between the HSBC World Elite^® Mastercard^® and the RBC Avion Visa Infinite Card, we remind you that cardholders of the RBC ION+ Visa Card and the RBC ION Visa Card do not have access to the same points valuation at the exchange level!

Avion Select members can redeem their points for travel at a ratio of 172 points = $1.

Let’s take the example above with the conversion rate of 0.88 and the exchange rate of 0.58%:

As you can see, the final value is almost the same as for Avion Elite members.

But here’s a tip you should know! You can transfer your Avion Select points to your Avion Elite account if you also have an RBC Avion Visa Infinite Card! And then you can benefit from a better exchange rate.

Previously, transfers of HSBC Rewards points to airline partners were made at the following rates:

With the migration, HSBC Rewards points were converted into RBC Avion points at a rate of 0.36, which is an average of what you would have received by transferring to these three partners. As a result, the value attributed by RBC to this level is indeed “comparable”.

Obviously, we lose out if our objective was to accumulate points at Krisflyer since RBC is not their partner, but this information was well known before the migration.

Also, transferring to an airline partner with RBC Avion is less restrictive than HSBC Rewards with its minimum 25,000-point increments; Avions require a minimum of :

• 10,000 points/slice of 1 point to Asia Miles and Avios
• 5,000 points/10-point increments to AAdvantage
• 1 000 points/tranches de 100 points vers WestJet Dollars

If you collect Asia Miles, you come out ahead.

On the other hand, those seeking Avios are losing out slightly.

But don’t forget about transfer bonus promotions! Asia Miles usually offers a 10-15% bonus transfer, and Avios up to 35%. These promotions are recurrent, occurring once or twice a year.

As a result, you’re already a winner with Asia Miles, as well as having the opportunity to double up, and with Avios, you could get:

Finally, with the migration, we may have lost Krisflyer, but we’ve gained two other airline partners: AAdvantage from American Airlines and WestJet Dollars from WestJet.

RBC has indeed offered “comparable or better value” for those who collect Asia Miles and Avios, as well as opening the door to Aadvantage and WestJet Dollars for former HSBC Rewards users.

All HSBC Bank Canada clients were provided with information about their migrated credit cards at least 60 days before the migration date.

HSBC Bank Canada clients were informed about the terms and benefits of their migrated RBC credit card and that RBC will convert any HSBC Bank Canada clients’ unused points earned with their HSBC Bank Canada credit card into Avion points, maintaining comparative value..

We are aware that HSBC Bank Canada has communicated certain changes to redemption prior to the migration. This communication is separate from the 60 day communication provided to HSBC Canada clients back in January.

Within one week of migration, HSBC Bank Canada points-based cardholders will have access to their individual Avion points balance and can start redemptions across all categories after migration via avionrewards.com or the Avion Rewards app.

We can share that all HSBC Bank Canada clients migrated to RBC will receive an Avion points balance that will have equal or higher value in the flexible travel redemption category in the same way they book their travel today.

In addition, they will have access to the Avion Air Travel Redemption Schedule, which provides access to higher travel value with Avion points than the HSBC travel redemption rate when booking flights.

Clients will receive a communication with more information about the conversion of their points within one week of migration.

• February 29, 2024: To airline partners (WestJet, AmericanAirlines, British Airways, Cathay Pacific);
• March 14, 2024: Mortgage payment, savings account deposit, products, physical gift cards, travel reservation or donation;
• March 25, 2024: Travel rewards credit, digital gift card, statement credit or $100 travel enhancement credit.

And this ratio will vary according to each customer. Indeed, HSBC World Elite^® Mastercard^® customers will be transferred to an RBC Avion Visa Infinite Card and will, therefore, have access to more rewards with RBC Avion Rewards (RBC Avion Rewards Elite Level).

While HSBC Travel Rewards Mastercard^® customers will be transferred to an RBC ION Visa Card (RBC Avion Rewards Premium Level).

Here are some quotes to remember:

Once HSBC clients are officially RBC clients and members of Avion Rewards, they will receive detailed information on the conversion value and unique redemption options.

…we can share that all HSBC clients migrated to RBC will have equal or better value for their converted points in the flexible travel redemption category in the same way they book their travel today. In addition, clients who hold Avion credit cards will benefit from even greater value with access to the Avion Air Redemption Schedule, which can provide up to 50% more value.

We have come to the same conclusion as Rewards Canada (and it is the same as the prediction we made following the announcement of the acquisition of HSBC Canada by RBC): the conversion ratio of HSBC Rewards points to Avion Rewards points will be a minimum of 2 HSBC Rewards points to 1 Avion Rewards point..

Thus, 20,000 HSBC Rewards points should be converted into 10,000 RBC Avion Rewards points.

What’s more, when you let convert your HSBC Rewards points into RBC Avion Rewards points, you’ll gain access to the Avion Rewards Air Redemption Schedule.

Depending on the destination, 15,000 to 100,000 Avion points are required per ticket.

RBC Avion Rewards points can be used to travel anywhere in the world with a round-trip ticket. A one-way trip requires half as many Avion points. Here is the airfare table for a round-trip flight:

On average this equals about 2 cents per Avion point .

We recommend that you wait to see what RBC has to offer as a new card, before making the decision to cancel your HSBC card. See alternative credit cards.

By December 2023, the purchase of HSBC Canada by Royal Bank of Canada (RBC) had been confirmed by financial and government authorities. All HSBC Canada customers will see their cards and services gradually shift to RBC over the coming weeks.

To ensure a smooth transition, we recommend you do the following right away:

• Update your information (e-mail, postal address, telephone number, etc.) in HSBC Online Banking
• Read emails or letters from HSBC Canada and RBC
• In February 2024, sign up for RBC Online Banking when you receive your access or a new RBC client card, sent around February 8, 2024.

The first new RBC cards to replace HSBC credit cards have been in circulation since the end of February.

Here’s some new information about the HSBC World Elite Mastercard and its switch to an RBC credit card. At least wait until you receive your new RBC card and the benefits customized to your situation, before cancelling your HSBC credit card. :

These RBC credit card benefits are not available to the general public. Only HSBC World Elite Mastercard holders will have these options.

If the new RBC credit card does not meet your needs, you may close the new RBC credit card without charge or penalty, no later than 3 months after the migration date. After 3 months, this means you have accepted the changes.

What’s more, if the HSBC credit card is not in good standing (non-payment, minimum payment not made, etc.), you will not receive a new RBC credit card! However, the unpaid balance will still be transferred and the cardholder will have to pay this balance. Be careful not to leave your account in arrears and damage your credit score.

Also, this means that if you have an HSBC Mastercard and you usually go to Costco stores in Canada (which only accept Mastercards), you will no longer be able to use it with your new RBC Visa card. However, there is a way around this problem.

The good news is that you can now use this new RBC Visa card without any conversion fees at Costco warehouses in the U.S., which only accept Visa! And also, it’ll be perfect to use if you’re going to the Paris Olympics in the summer of 2024, which only accepts Visa cards at its venues. Just like the Scotiabank Passport™ Visa Infinite* Card, which is the only Visa credit card available to everyone with no foreign currency conversion fees.