twonga

thanks derek, but i am hoping to hold out for a 7500 link, or even a 5000 link (thats got quota)

percysmith

http://f.email.americanexpress.com/i...14_9392_01.pdf

New:
"An administration fee of HK$200 will apply to each air mile conversion (not
applicable to Centurion members)."

Old:
"9.4 An administration fee will apply to each air mile conversion (not applicable to Centurion members): HK$100 for 120,000 points or below; HK$150 for 120,001 points to 180,000 points; HK$200 for 180,001 points or above."

I think most of us were paying $200 anyway.
Wiki updated
None of these fees did or will be applicable to CX Elite or Green cards.

kmcflyer

Good point Twonga. I'm looking at the DBS Black Mastercard too and would similarly like to go for a 7500 or 5000 link.

I think based on what I read in this forum it has the features closest to my current main credit card which is the Citi Ultima card. That is $4 per mile (overseas and local) but I am thinking of cancelling it as I've had it for a year and don't think it really justifies the high cost of it. The renewal gift of mileage is ok (120k miles) but the cost is high (HK$23,800) and I've not found the service to be commensurate with the cost and how they are trying to brand it. I can afford it but the main point which bugs me and suggests I should drop it is the very average service and associated benefits.

I'll probably use instead my HSBC Premier card for local dining (since all my bonus is allocated to dining) and use the DBS card for all other purchases. If Percysmith or any other credit card gurus have any other advice (in particular whether keeping the Ultima card is a good idea), it would be gratefully received. I spend a fair bit on cards so no point letting the potential mileage accrual go to waste!

Thanks in advance and please PM or reply to Twonga and me if you have allocation and have a 7500 or 5000 link. Cheers.^

percysmith

$23,800 - no waiver?

Well, as you can see from Wiki list, no card does $4/mile across all categories on ongoing basis except Ultima.

Let's use the breakeven math on it - at what level of spend will Ultima justify itself?

23,800 annual fee
Lets assume miles = $0.1. So net of renewal gift, the fee for the $4/mile rate is $11,800

And assume you put you spending into DBS Black Mastercard or some other $6/mile card as substitute.

So solving for x breakeven spending where

11,800 = (x/4 - x/6) x 0.1
118,000 = x/4 - x/6
(multiply by 24) 2,832,000 = 6x - 4x
x = $1,416,000

Do you spend more than that every year? If yes Ultima, if no save your cash

kmcflyer

Percysmith, thanks for the reply. It is well thought out and the model assumptions are reasonable.

On my end, I would probably give just a little more value to a mile since on that basis, redemption J tickets are quite cheap. Alternatively, the other card benefits whilst not as good as the mileage also do bring some value. Hence the threshold from my perspective is probably less than the 1.4M you calculated but would still be north of 800k.

Nevertheless it is still a substantial sum of money so I'm somewhat inclined to go ahead with the cancellation. Furthermore, one also needs to factor the increasing difficulty in award redemption so that is also a support for not continuing with the Ultima card. It really is a pity though as I had high hopes for the card post rebranding.

Thanks for the advice; very much appreciated.^

LchChester

Mind sharing what other useful/valuable benefits are there for this card?

twonga

hi all, i was wondering if someone could help me with the "Speed Pass" promotion DBS are currently offering. Im trying to work out if this is actually a very good deal or if its just an average deal?

Basically i have got a purchase of $36,000HKD next week. This will get me 6000 Asia Miles (6$ per mile)

DBS are basically offering a "speed pass" which costs $120HKD per pass, and each one will give you an extra 1000 miles every $3000HKD you spend

So $36,000/$3000 = 12 speed passes = $1440HKD

In short, if i pay $1440HKD, i will get an extra 12,000 Asia Miles with my purchase. Is this classed as a very good deal?


Im not sure if i read the terms and conditions correct, but as far as i am aware there is no limit on how many speed passes you can use in one transaction?

Any comments would be appreciated! also do let me know if i completely misunderstood the promotion!^

ChrisLi

Wirelessly posted (Xperia Z: Mozilla/5.0 (Linux; Android 4.4.2; SGP521 Build/17.1.1.A.0.402) AppleWebKit/537.36 (KHTML, like Gecko) Chrome/36.0.1985.128 Safari/537.36)

It depends where you use the miles, but I will say the general understanding is 0.12 hkd per miles, if you aim to redeem j / f is quiet a steal.

percysmith

Chrisli and twonga: speed pass is simply the option to buy 1,000 am for $120 payment and $3,000 accumulated spending. The accumulated spending earns normal miles (ie $6/mile on local spending). Can buy multiple passes

If I use my $0.1 valuation for miles speed pass is a stinker. Not to mention DBS has the cheek to advertise it as "$2/mile" (ignoring the payment requirement in that claim)

Reactions by cardholders have be scathing https://www.facebook.com/TheDBSBlack...435888/?type=1

If your valuation of miles is $0.12 or more, ymmv but you might as well approach hongkongcard.com 交易專區 traders hawking whole tickets for $0.095-$0.1/mile (I has a public discussion with a trader wringing how hard it is to flog 5 million AM at $.105 http://www.hongkongcard.com/forum/fo...?id=9750&p=183 #1821)

Anyway, if buying redemption tickets from traders does not appeal to you, your 36k spend can be better spent with citi premier/prestige for 6950 miles (if you've already registered for this http://www.citibank.com.hk/english/c...p=HKENCCPWAGD2 ) vs DBS 6000 am plus the option to buy miles which is of dubious value.

twonga

Thanks both for the reply,

@percysmith, don't think I want to go down the redemption tickets route for now.

I also have a Citibank premier miles but I worked out 36,000 @ 8$ per mile = 4500?

So in conclusion, you do not think me paying the extra $1440 for the 12,000 miles is a good deal? (I need to spend the $36k whatever happens, just trying to decide whether to also purchase the speed passes)

I also forgot to mention that I am currently short 10,000 miles for my next trip so will need to take this into consideration?

Thanks!

percysmith

If you're signed up for the ""up to" $2/mile" promo, the first $5,000 spending of your spending from now to 31 Aug will earn $8/mile for first $5,000 local spending in period and $5/mile thereafter. Sorry you earn 6,825 mile for $36K spending not $6,950.

When do you need to redeem?

Citi extra miles (the difference between $8/mile and $5/mile) won't credit til 15 Nov
DBS will credit DBS$ within 4-6 weeks after end of purchase month (and then another week needed to turn them into miles).

twonga

Hi percysmith, basically i need to redeem "hopefully" before october.

so based on this, would you say the extra $1440 is worth paying for the extra 12,000 miles? Or would you still say its such a poor deal then to not bother? ( i know its essentially up to me in the end but your advice would very much be considered since you are the forum expert

percysmith

I reading somewhere that last few miles are arguably more valuable, so if you want to stay on the right side of AM rules then go for it.

http://viewfromthewing.boardingarea....g-credit-card/

percysmith

http://www.hongkongcard.com/forum/fo...w.php?id=12558

939 promo 1/8-30/9, two phases
Visa/MC cards only, no unionpay
*Each card plays separately*
Some people have invite letter, but *not necessary to have letter to play*
Can phone CS 317 95588 for target now
To target: 3x (extra 2x)
Above target: 939 points per $100 spent (extra 839 points/$100)
Max: 75,000 pts/phase
Exclude: non-hkd transactions
Register: www.asia.ccb.com/939rewards (from 4 aug 10:00am) or by phone 3724 7939

My target: $4,500
So my magic number $12,400/month
Get: 12,400 + 75,000 = 87,400 = $2.13/mile

nsolitude

Hi everyone,

After a terrible blunder concerning SCB's Amex (I'm at risk of losing half a million AM points; yes, I'm that stupid and absent-minded), I think I need to regroup and reconsider my spending habits etc.

We now have a 4000USD rental bill every month, and I wonder if it is sane to use a credit card to pay for it, in vain hopes of earning some miles out of it. The landlord does not accept credit card payment, and one of the options might be using WilliamPaid (with 2.9% fee). We are thinking of using either Amex SPG or Chase Sapphire (but it doesn't transfer to AM).

I have been spending quite a bit of time on the MS forums, but there is no way that I can keep up with the intensity and steps demanded, considering that I have failed to redeem credit card points for last few years.

Any advice will be deeply appreciated!