Cathay Pacific Asia Miles - UOB Closing HK operations!

Seems that UOB is closing HK operations. They have sent letters to say that their cards will cease to operate after August 2008.

It is funny - there was an envelope saying that what was contained was INFINITE. However, the letter inside said that the Infinite card would not work by 1 September. How INFINITE is that?

Mmmm interesting....welll I didn't really like their card in the end anyway. So good thing I won't have to meet their minimum annual spend this year! Does it say when the points need to be transferred by?

Mmmm interesting....welll I didn't really like their card in the end anyway. So good thing I won't have to meet their minimum annual spend this year! Does it say when the points need to be transferred by?

ah yes, what about points on the card.

strange, just got my bill yesterday, but no info about card closing.

also what about priority pass membership? my membership card says expires in 2009, does that mean keep priority pass membership until 2009?

anyone know about an annual fee refund?
better transfer all those points soon.

My letter says that Priority Pass membership will be terminated from 1 September, and points must be redeemed by 31 October 2008.

No refund of annual fee either, not even pro rata. I wonder if there was a clause providng that when a customer opted gets asia miles in return for paying $ 6,000 + for annual fee or something similar, there can be no pro rating return of annual fee even if the card were to be discontinued before end of year.

I doubt very much if there was such a clause.

In any case, what if someone were to complain, eg to Consumer Council that the bank cuts the card before end of year without returning part of annual fee?

This may well be worth a shot as the annual fee of $6000 plus is very high.

i agree - but i a sure there must be some clause to protect them. even though they call it an annual fee, they have sold us miles 60,000 for HK$6380

There ought to be a difference:

1. If the $6000+ was a fee for purchasing the miles, then there can be no refund.

2. If the amount included the annual fee, a very respectable and convincing argument exists for a refund. It may not be based on the entire sum as asiamiles have been awarded, but to refuse a refund would be unreasonable, not to mention bad PR.

Even if there were a clause protecting them, it may not avail.

I doubt they're just going to cancel everyone's card and say bye. Usually in cases like this, the card portfolio gets sold off and transferred to another bank.

If they dont mention about annual fee refund, it looks like you'll be converted to another top tier Visa Infinite/MC World/AMEX Plat equivalent product from another bank.

Strange though that they have just said in the letter that your card won't be accepted anywhere from 1 September.

I doubt they're just going to cancel everyone's card and say bye. Usually in cases like this, the card portfolio gets sold off and transferred to another bank.

Agree that it would generally be true - except that in this case they have NOT announced a transfer to new bank/card but have simply said the card will be terminated. So it seems it is just goodbye. /