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Research Outline
Prepared for Ankur | Delivered September 23, 2019
Banks - Consumer Rewards Credit Cards: United States
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Goals
To continue identifying rewards credit cards for the listed banks and entering details into the
attached spreadsheet
.
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Early Findings
The details for HSBC, Amalgamated Bank of Chicago, Royal Bank of Canada, and Bank of Montreal Harris rewards credit cards have been entered on the
attached spreadsheet
.
HSBC
HSBC has two rewards cards. The first one is the HSBC Cash Rewards Mastercard Credit Card, which offers
1.5%
unlimited cash back on all purchases after the introductory period. The cash back can be used to redeem other rewards as well.
Upon sign up, users can earn
3%
in cash back for the first 12 months on all purchases
up to $10,000
.
The second card is the HSBC Premier World Elite Mastercard Credit Card, which offers
3X points
on travel purchases,
2X points
on dining purchases, and 1X points on all other purchases.
Upon sign up, users will receive
50,000
bonus points after spending $4,000 in purchases. This is worth
$750
in airfare when booked through HSBC Rewards.
AMALGAMATED BANK OF CHICAGO
Amalgamated Bank of Chicago has just one rewards card, which is the
ABOC Platinum Rewards Mastercard
.
This card offers
1 point per $1.00
spent on all purchases.
Each quarter, users can earn
5X points
on specific categories of purchases.
January – March — 5X rewards on up to $1,500 of
dining and grocery purchases
April – June — 5X rewards on up to $1,500 of
home improvement purchases
July – September — 5X rewards on up to
$1,500 of travel purchases
October – December — 5X rewards on up to
$1,500 of automotive purchases
Upon sign up, users can receive a
$150.00 statement credit
after $1,200 in purchases during the first 90 days.
ROYAL BANK OF CANADA
The Royal Bank of Canada has one rewards card for Americans, which is the
Visa Signature Black U.S. Credit Card
.
It only offers 1 RBC Rewards point for
every $1.00 spent
.
Upon sign up, users can receive a
0% introductory APR
for the first six months.
BANK OF MONTREAL HARRIS
Bank of Montreal Harris offers the BMO Harris Bank
Platinum Rewards Mastercard
for Americans.
Users receive
2X points
on grocery and gas purchases and 1X points on all other purchases.
There is also a
10% anniversary bonus points
program that does not have a cap.
Upon sign up, users can receive
25,000 bonus points
if they spend $2,000 in the first three months.
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