Originally Posted by
CanucksHKG
Thanks! Wouldn't want to pay the HK $1200 annual fee when the time comes around next year.
I wonder for those that have the Ultima Card...if they really have to pay HK $23,800 each year...or do those end up being waived too
I really don't think anyone actually pays it.
I am guessing you get a waiver if you are Citigold
http://www.hongkongcard.com/forum/fo...ow.php?id=2895
It's not an official privilege, but I'm guessing the waiver exists or else no-one will have that card. 23.8 is even more than Centurion (the annual fee only, not including the induction fee also due in 1st year).
But what are the benefits?
http://www.forbes.com/2007/07/03/ban..._slide_5.html#
Citibank Ultima
Citi has been issuing this card in the Middle East and emerging economies in Asia, including India. For about $1,200 (converted from the 50,000 Indian rupees annual fee) the card offers exclusive access to private islands and an array of elite concierge and travel assistance services.
http://www.forbes.com/2010/04/26/mos...eet-cards.html
Citigroup and Bank of America offer high-end cards through their private banking and private client businesses, offering perks for international travel, full-time concierge service, and rewards for purchases. Citi’s Ultima card, which is only offered in Asia, advertises perks like exclusive one-day use of a 80-foot luxury Ferretti yacht; 48-hour use of a Maserati 4200 Spyder; and access to a chauffer-driven Bentley limousine throughout the day. The Citibank Chairman’s Card currently offers reduced fees and flight time credits for Marquis Jet/Luxury Private Jet Services and complimentary breakfast for two and room upgrades at Ritz Carlton, Mandarin Oriental, Fairmont Hotels and others
Do I really need help booking all those yachts/Maseratis/limos? I reckon a bag of RMB "bricks" will be even more effective. Chairman appears to be more value for money, but I don't think it's available in HK.