theclubsq

Standard Chartered Bank's AMEX card has revised to 2X bonus points/HKD for local spending and 6X bonus points/HKD for overseas spending starting from today (Jan 15, 2009).

Other FTers have reported HSBC's new rate as HK$15/miles.

CX/AMEX card is HK$8/miles for local spending; For overseas spending, HK$8 per 2 miles for Elite cards, or HK$8 per 1.5 miles for non-Elite cards.

Question: What do you think the best deal now (2009 on wards) for:

1. Asiamiles conversion rate (local and overseas spending)?
2. Cash rebate/dollars?
3. Your favorite card for local spending (2009 features aftermath)?
4. Your favorite card for overseas spending (2009 features aftermath)?

Gambler

Does anyone know if this change to the StanChart Amex comes into immediate effect for all cardholders as I've not received any notification of such change. In fact, the application form currently on the website is not yet updated and still shows 4X bonus points despite the new ads.

theclubsq

AFAIK, it is in effect starting Jan 15, so unfortunately you will have to bide with the new features too. I was not aware of such change as well until the CSR told me that when I was inquiring about my executive plat MC. The application website does not matter as much as the it's main card features/benefits site has already updated the new changes.

MKE-MR

I can confirm HSBC's new conversion rate. Given this change, and my general laziness (and inability to qualify for a Centurion ) I'll probably stick with the Amex CX card. I really like the free Priority Pass since I'm unlikely to get lounge access through MPC this year!

Sohoboy

Anyone using Diners? The conversion rate is HKD6=1 AM and there is free access to Plaza Lounge as well. The conversion rate is better than AMEX CX and Citi PremerMiles in HK. But Diners is not as popular as AMEX and VS/MSTR..
Personally I don't like Citi PremierMiles as they only convert the points to AM in every 500 units, i.e. HKD4000, unlike AMEX CX that convert every single mile on monthly basis. If one day I want to quit from the Citi PremierMiles, I probably need to spend a few thousand dollars more to top up the points for rounding up this 500 miles.

christep

The CX Amex and Citibank Premier Miles cards have each have their own advantage.

The Citi only gets access to the HKIA Premium Lounge near gate 40; it doesn't get access to the one near gate 15. However, supplementary cardholders do get access at the gate 40 lounge.

The Amex card comes with access to both the Plaza Premium lounges at HKIA and a free Priority Pass membership. But it doesn't come with access for the supplementary card holder.

And on the subject of overseas earning, I've just received an update from Amex that from 1 March 2009 overseas earning (double miles on the CX Amex Elite) means simply at merchants outside Hong Kong. This is better than Citi in two ways:
- Citi's "overseas" excludes the Mainland and Macau also
- and Citi specifies non-HKD transactions for overseas.

This reopens a nice opportunity for earning if you have transactions which can be done in HKD as native currency but outside Hong Kong. I benefited substantially from this in previous years when the old Citi CX card didn't have the non-HKD restriction.

theclubsq

I am not sure if you're holding the non-Elite card, my parents (dad being a Elite basic card holder, mom being an Elite supplementary card from mine) were successful getting in Plaza Premium. But let me clarify, quote the card benefits page:

Airport Lounge Privileges

American Express Cathay Pacific Elite Credit Card

* Complimentary Priority Pass with unlimited access to over 500 VIP airport lounges worldwide
* Unlimited access to the Plaza Premium Lounge for both Basic and Supplementary Cardmembers

American Express Cathay Pacific Credit Card

* Plaza Premium Lounge access twice a year


Please enlighten me with how does choosing HKD as transaction currency helped you for overseas spending? You don't have to pay FX rate nor credit card company won't charge you anything on top?

theclubsq

Anybody knows if there's any new changes to DBS Black card (AMEX)? I recall they also have HK$6/mile rate...

christep

Ah. I'm sure I checked that when we got our cards a few months ago and that wasn't the case. But I see that it is now. So either I was mistaken somehow previously or it's a change. Anyway, that's good to know. In that case the Amex wins over the Citi bank in lounge access.
If, but only if, you have transactions which are denominated in HKD. In my case I have a regular investment scheme with a company in the Isle of Man which is denominated in HKD. Yes there's a 1% credit card fee, but that still means effectively US$0.005/AsiaMile with double miles.

tedhl

Even Centurion's "Infinite Rewards" is only HKD 8 = 1 mile for local spending and HKD 4 = 1 mile for overseas spending. what I'm using now the most is:

• Standard Chartered Visa Infinite: HKD 6 = 1 mile, no cap (and Visa more often accepted than DBS Black Amex which is also HKD 6 = 1 mile) - also no annual fee as long as spend HKD 200k a year I think
• DBS Visa Plat for local dining: HKD 4 = 1 mile
• overseas: quite a few options giving HKD 4 = 1 mile
• a recent AmEx Plat credit card targeted promotion giving me HKD 3 = 1 mile effectively (no cap but only ~3 months), and DBS Black promo giving HKD 2-3 = 1 mile (but quite a low cap, just like 1-2 HKG-PVG plane tickets)

theclubsq

• SCB Executive Platinum is what I use the most from now on: 1% cash rebate with no caps, or DBS AMEX if I care for asiamiles: HK$6/mile
• Guess I will switch my local dining to DBS Visa Platinum, except maybe for every 8th day of the month, SCB Platinum gives $1.5/mile on dinning and other occasions where they give 10% off on dining.
• Overseas spending: I would pick SCB's AMEX card as they give HK$2/mile now for their 6X bonus points.
• I also took advantage of HSBC Premier's promotion at Elements mall. These deals come on occasion and the only way to get those is you have a Plat cc at every bank? :S

IncyWincy

I have been told that for Standard Chartered the rate is 15 pts=1 mile if the conversion is below 11K miles and 12 pts=1 mile if over 11k miles.

Also, there is a charge of HKD 100 per 10K mile.

tedhl

just talked to SCB. they admitted that they changed the rule some time in 2008 (both about HKD 15 = 1 mile for <=10k miles, and about fee having no cap, used to be HKD 300 cap).

they said they have sent out notice on this but frankly I'm someone who read every fine prints of everything sent to me by banks / credit cards / airlines / hotels / etc and I never read anything - so I suspected they probably just changed the rules by themselves secretly without sending anything (like what Asia Miles did lately), or that I didn't have any transactions that month and so didn't get the statement and hence the notice that came with it.

and the funny thing is that the rep just now on the phone asked me to go on to the web and said I should be able to find it there as I can do the redemption online - finally what he succeeded in showing me was that the item was listed as 1000 Asia Miles, with bonus points required = 12000 and redemption price = HKD 0.0 - failed to tell and convince me where I was supposed to see the fee at all except this HKD 0.0. these fees were just buried somewhere that even the rep couldn't find.

anyway...I need to re-evaluate a bit then given this 10k miles = HKD 100 fee, whether this SCB Visa Infinite is still the best deal for me (probably should use DBS Amex a bit more then whenever Amex accepted). need to do a bit more math.

BTW SCB Amex seems to give 6x for spendings at a lot of travel agents too, including the two who's our corporate travel agents. will see if I can start getting 6x for all my plane tickets - if so, a really excellent deal...

Gambler

Probably ok for corporate accounts but on a personal basis, most of them won't accept Amex without a surcharge (I've managed to get Swire to accept Visa without a fee but they insist on one if its Amex) or unless you're buying the full fare tickets (i.e. Westminster travel will only accept the Stanchart Amex for F, J and Y Class tickets) which I would never buy personally!

chinatown

I'm quite sure that Farrington Amex will be willing to accept Amex with no surcharge. It says so on their website, and they are operated by Amex! 6X available too.. Looks like they will be getting my business