Speaking of HSBC, here's their latest HK spending promo.
Spend at HSBC dining discount restaurants and get min 3X RewardCash
http://www.hongkongcard.com/forum/fo...ow.php?id=4936
http://www.hsbc.com.hk/1/2/special/cards/prom206
Normally HK$250 spending = 1 RC and 1 RC = 15 mile so in effect the earn rate is $16.67/mile. Hardly justifies the $300 annual fee you have to pay for the privilege of converting to miles.
This promo will take the rate down to $5.55 per mile. But it is restricted to restaurants offering HSBC discounts. I'll only go to those restaurants occassionally so it doesn't justify me signing on to convert RC to miles.