SCB Cathay MasterCard discussion
Jul 11, 2021, 7:52 pm
#76
Join Date: Jun 2020
Posts: 19
As far as I am concerned it is yet another Cathay Pacific enhancement. I used to have a free Cathay Pacific credit card provided through AMEX. That has been cancelled. If I wish I can apply for a Standard Chartered credit card that is called Cathay. I would have to go through the hassle of opening a new banking relation and reduce my financial flexibility to gain some marginal reward benefit. I can only imagine that Cathay will save some subsidy it used to pass to AMEX and/or will received a kickback from SCB. Thank you for nothing Cathay. Another reason to reduce the weighting I give to buying tickets to fly with you.
and, since the HK1 million banking relationship can include a number of things (e.g. MPF, mortgage, stock, bond), "free cash" is not a must. for example, one just need to choose it for mortgage. most banks offer very similar interest rates and cash rebate, and the 4 annual lounge acceses could be a deal breaker
Jul 12, 2021, 8:50 am
#77
FlyerTalk Evangelist
Join Date: Dec 2004
Programs: CX Green, QF Platinum, BAEC Silver, Hyatt Glob
Posts: 10,780
Jul 12, 2021, 9:30 pm
#79
FlyerTalk Evangelist
Join Date: Dec 2004
Programs: CX Green, QF Platinum, BAEC Silver, Hyatt Glob
Posts: 10,780
Jul 12, 2021, 10:45 pm
#80
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,807
Honestly I still think waivers will be given for the asking. Otherwise we’d churn these cards silly like the CX Amex before it.
No Priority Pass attaches to the Explorer. The only benefit of value - besides allowing me to do occasional $50 for $20 promos - is the ten Plaza Premium visits per year for supp cardholders (I have enough Dragonpass to get into Plaza Premium myself).
Jul 13, 2021, 11:19 pm
#81
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,807
Jul 16, 2021, 11:36 pm
#83
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,807
so if I am willing to maintain a HKD 1 million account (including MPF or mortgage) with SCB, I can get the CX card (priority banking version) with no annual fee, which comes with 4 lounge access per year and priority check-in and boarding with no spending requirement? I think it is quite attrative as compared to other local HKD 1 million account (e.g. HSBC, Hang Seng, Citibank)?
Missus and I decided pretty early on we weren't going to move money to SCB for mere SL alone - not going to use it. We were working on a working assumption that SL is worth a just-for-kicks value of $300
We are interested in playing simultaneous offers though.
A friend did see a Priority Banking welcome offer is approx a 1.4% p.a. fixed deposit for three months https://www.sc.com/hk/promotions/pri...new-customers/ . We had a fixed deposit maturing last Friday, the welcome offer as a deposit rate was pretty decent, and SL would be icing on the cake. So this morning I drafted a $1.01M cheque, payslip, address proof and set out to take the tram to the nearest branch.
Just when the tram was approaching, I suddenly realised I might not be a new customer. I trudged back to the flat, tried calling my Easy Banking hotline (they didn't bother picking up, so I got the Missus to call her Priority Banking hotline and check my records), found I am not a Priority Banking new customer until 25 Sep 2021.
I voided the cheque and shredded my payslip. Check again to see whether SL offer extend beyond 31 August 2021.
I know a couple of friends who are existing Priority Banking customers and saw more value than the Missus and I with SL. They have a lower bar to meet, they will deposit $500,000 each by the end of the month (and play the non-welcome version of Marathon savings probably https://www.sc.com/hk/promotions/pixar/ )
Jul 19, 2021, 4:43 am
#88
Join Date: Jan 2011
Posts: 2,346
- HKD3 = 1 Asia Mile for eligible spending on Cathay Pacific Airways and Hong Kong Express
- HKD4 = 1 Asia Mile for eligible spending on dining, online and overseas spending categories
- HKD6 = 1 Asia Mile for eligible spending in other categories which are posted in Hong Kong dollars
Jul 19, 2021, 9:45 am
#89
FlyerTalk Evangelist
Join Date: Aug 2009
Location: ZOA, SFO, HKG
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Jul 19, 2021, 8:03 pm
#90
Ambassador, Hong Kong and Macau
Join Date: May 2009
Location: HKG
Programs: Non-top tier Asia Miles member
Posts: 19,807
Explorer earns better but it's an Amex. However so does Flyer World and that is not also a World Mastercard like SCB Cathay.