Best credit card coversion rate to Asiamiles in 2009? (For FTers based in HK)
Jan 17, 2009, 3:01 am
#16
Join Date: Jun 2006
Location: Hong Kong
Programs: No longer Diamond and missing the good old days of CX
Posts: 1,521
Has anyone been billed with a "Financial Charge" of HKD1900 from CX AMEX Elite out of nowhere? I've called up AMEX for the reason, but they couldn't seem to give me an answer and is reluctant to waive it. 
Guess I'll better stick with PremierMiles!!!!
Guess I'll better stick with PremierMiles!!!!
Jan 17, 2009, 5:11 am
#17
Join Date: Dec 2007
Location: HK
Programs: CX DM / Marriott LT Titanium
Posts: 289
were you late paying your last statement?
Jan 17, 2009, 5:25 am
#18
Join Date: Jun 2006
Location: Hong Kong
Programs: No longer Diamond and missing the good old days of CX
Posts: 1,521
I did pay late once, but that was clearly billed as "Late Payment Charge" on the statment and it was only HKD130. I've always avoided AMEX cards prior to the CX AMEX for a reason... 
Jan 17, 2009, 5:28 am
#19
Join Date: Dec 2007
Location: HK
Programs: CX DM / Marriott LT Titanium
Posts: 289
typically with late payments, there is a LATE FEE and a FINANCE CHARGE, maybe they separated the charges on two differenty statements.
Jan 17, 2009, 6:38 am
#20
Join Date: Dec 2002
Location: Hong Kong
Posts: 2,172
Doesn't Farrington Amex charge against the traditional Amex?
Jan 17, 2009, 7:53 am
#21
Original Member
Join Date: May 1998
Location: HKG
Programs: BA GGL/CCR, CX DM, QF GO, AA LT GO, UA SL, LH FT, Marr LT Titanium, Shang DM, Hyatt Glob, Hilton DM
Posts: 2,024
Citibank is also very very strict with late payment from my experience...
late charge is a fixed charge, usually HKD 100-150 or so, just a penalty, for paying nothing or below the minimum payment required , by the due date.
while finance charge is what the actual interest is, once your payment is late (or as long as you didn't settle the whole outstanding balance), all the charges outstanding will be charged interest rate starting from the day the charges were actually incurred (and not starting from the payment due date)...
so whenever there's a late charge, there must be a corresponding finance charge. while finance charge might occur on its own (i.e. you pay at least the minimum by the due date, but not the full balance).
(at least these are what my understanding has been)
late charge is a fixed charge, usually HKD 100-150 or so, just a penalty, for paying nothing or below the minimum payment required , by the due date.
while finance charge is what the actual interest is, once your payment is late (or as long as you didn't settle the whole outstanding balance), all the charges outstanding will be charged interest rate starting from the day the charges were actually incurred (and not starting from the payment due date)...
so whenever there's a late charge, there must be a corresponding finance charge. while finance charge might occur on its own (i.e. you pay at least the minimum by the due date, but not the full balance).
(at least these are what my understanding has been)
Jan 17, 2009, 11:57 pm
#22
Suspended
Join Date: Jun 2002
Location: Hong Kong
Programs: None any more
Posts: 11,017
Autopay is your friend!
Jan 18, 2009, 12:28 am
#23
Original Poster
Join Date: Apr 2008
Programs: CX GR, SPG/MR GE, Ritz Plat, Hilton S
Posts: 195
Jan 18, 2009, 1:27 am
#24
Suspended
Join Date: Jun 2002
Location: Hong Kong
Programs: None any more
Posts: 11,017
I have both my Citi Premier Miles and Amex on autopay direct from my HSBC account. The autopay forms come in the welcome pack for each I think. I only use PPS if I need to make an additional payment mid-month (which is very rare these days given the HK$500K credit limit that Amex gave me unprompted!)
Jan 19, 2009, 7:43 pm
#25
Join Date: Dec 2003
Location: Hong Kong
Programs: CX Diamond / SQ Gold / Bonvoy Platinum / Hyatt Globalist / Hilton Gold
Posts: 1,098
IS STANDARD CHARTERED AMEX THE BEST CARD?
From what I've gathered, it's 2X for local spending and 6X for overseas spending.
So that means HK$6 = 1 Asia Mile for local spending, and HK$2 = 1 Asia Mile.
Doesn't that beat all the other cards, that only offer HK$8 = 1 AM for local spending and HK$4 = 1 AM for overseas spending?
From what I've gathered, it's 2X for local spending and 6X for overseas spending.
So that means HK$6 = 1 Asia Mile for local spending, and HK$2 = 1 Asia Mile.
Doesn't that beat all the other cards, that only offer HK$8 = 1 AM for local spending and HK$4 = 1 AM for overseas spending?
Jan 19, 2009, 8:36 pm
#26
Original Poster
Join Date: Apr 2008
Programs: CX GR, SPG/MR GE, Ritz Plat, Hilton S
Posts: 195
The best card for conversion rate? probably, with a price and restriction. As other FTers mentioned, the best conversion rate happens when you convert at least 10,001 miles (with a fee $100 per 10,000 miles, so to max out the deal, convert 20,000 miles): 12 pts = 1 mile, otherwise 15 pts = 1 mile.
The DBS Black gives HK$6/mile with no conversion fee (and no caps I assume).
The DBS Black gives HK$6/mile with no conversion fee (and no caps I assume).
Jan 20, 2009, 2:35 am
#27
Join Date: Feb 2005
Location: Hong Kong
Posts: 2,068
Wasn't aware of this SCB change, its a bit of a pain really.
Looks as though I may go back to my DBS Black Amex and ditch the SCB all together (less cards to have).
For foreign charges, what is the present wisdom?
I know that my citibank premier, the charges were around 1.95 - 2% off interbank.
I had used my Amex (SCB) once previously and the charges worked out at around 3.25% off interbank.
Looks as though I may go back to my DBS Black Amex and ditch the SCB all together (less cards to have).
For foreign charges, what is the present wisdom?
I know that my citibank premier, the charges were around 1.95 - 2% off interbank.
I had used my Amex (SCB) once previously and the charges worked out at around 3.25% off interbank.
Jan 20, 2009, 2:52 am
#28
Join Date: Dec 2007
Location: HK
Programs: CX DM / Marriott LT Titanium
Posts: 289
As far as I understand....
Mileage conversion
DBS Amex
L: $1 = 2pt / $6:1m
O: $1 = 3pt / $4:1m
*12pts = 1m
NO CHARGE
SCB AMEX
L: $1 = 2pt / $6:1m
O: $1 = 6pt / $2:1m
*12pts = 1m if >10,001m
otherwise 15pts = 1m
CHARGE - $100/10,000m
CX Amex
L: $8:1m
O: $4:1m
NO CHARGE - Auto T/F
Citi PremierMiles Visa
L: $1 = 1.5pt / $8:1m
O: $1 = 4pt / $3:1m
NO CHARGE - Auto T/F
HSBC (as of Jan31, 2009)
L: $1 = 1pt
O: --
*15pts = 1m
CHARGE - $300/yr
Looks like DBS for local and SCB for overseas.
Mileage conversion
DBS Amex
L: $1 = 2pt / $6:1m
O: $1 = 3pt / $4:1m
*12pts = 1m
NO CHARGE
SCB AMEX
L: $1 = 2pt / $6:1m
O: $1 = 6pt / $2:1m
*12pts = 1m if >10,001m
otherwise 15pts = 1m
CHARGE - $100/10,000m
CX Amex
L: $8:1m
O: $4:1m
NO CHARGE - Auto T/F
Citi PremierMiles Visa
L: $1 = 1.5pt / $8:1m
O: $1 = 4pt / $3:1m
NO CHARGE - Auto T/F
HSBC (as of Jan31, 2009)
L: $1 = 1pt
O: --
*15pts = 1m
CHARGE - $300/yr
Looks like DBS for local and SCB for overseas.
Jan 20, 2009, 3:22 am
#29
Suspended
Join Date: Jun 2002
Location: Hong Kong
Programs: None any more
Posts: 11,017
O: $1 = 3pt / $4:1m
No Charge. Auto or non-auto as you wish.
(I prefer non-auto since that maximises the life of the miles)
The other variation - important for those who spend in China or Macau - is whether they are regarded as Overseas or Local. CX Amex regards them as Overseas, Citi PremierMiles as Local.
Jan 20, 2009, 5:14 am
#30
Original Poster
Join Date: Apr 2008
Programs: CX GR, SPG/MR GE, Ritz Plat, Hilton S
Posts: 195
I think I'll stick with SCB's AMEX card for a while.