percysmith

With respect, I think you're getting very confused:

1. The 3% is interchange? If yes, that's what they collect from merchants for accepting HSBC cards. HSBC does not collect the full 3% - some go to the card association (Visa) and the acquirer (merchant's bank) - Wikipedia suggests 0.18% and 0.07% http://en.wikipedia.org/wiki/Interchange_fee.

2. For our continued use of HSBC cards which allows HSBC to earn the 3% interchange, HSBC awards us 1 RewardCash per $250 spent. RewardCash are bonus points like DB$ or Citi Reward points or Amex MR points.

3. For the privilege of being able to convert our RewardCash into miles, HSBC charges us $300 per year. This entitles us to unlimited redemptions of miles at 1 RewardCash = 15 miles during the year, subject to minimum transfer in (4).

4. Each redemption must be made in a minimum 40 RewardCash or 600 miles. No incremental monetary fee charged for redemptions.


So my original suggestion - if they're not collecting the annual fee or RewardCash, then they're charging nothing at all - holds.

If they don't charge RewardCash, then you need not even spend on the card - it'll be like this bottomless pit of miles that you can redeem at no cost.

percysmith

That is correct.

But there are no per conversion monetary fees on top of the 40 RewardCash.

You pay an fee that covers all conversion for the year.

dietevil

Given the way it is printed, I think it is an individual target.

percysmith

kazakaza @hongkongcard.com also got similar offer to you http://www.hongkongcard.com/forum/fo...ow.php?id=5595

His target is $12,000, but he only gets the 2X miles on spending above his target.

Can you confirm your offer rewards spending within your $76,000 target?

Edit 11:42AM - I asked Citibank CS - they said they only count spending above your target. Can you confirm that is the case?

percysmith

http://ebm.email.americanexpress.com/c/tag/hBOKhG$AQB6DpB8cdUKDlsOS63o/doc.html
http://www.amexnetwork.com.hk/fastpay


DBS Black Card, SCB AE also eligible

But - "(6) Each Cardmember can only register one Card for this offer. Only transactions made on the Card registered for this offer are eligible. Transactions made on another Card or on a supplementary Card with different Card number are not eligible. "

Clarified with the CS at Plat Charge - one name, one registration regardless of # of cards held.

Marco Polo

No idea
I have no intention of going haywire just to please them
Is sent a copy of the offer to dietevil

the annoying fact is I just paid HK 82k to them 2 days before I got the damn offer since I am travelling today to Africa for 3 + weeks and wanted to ensure bills were paid

percysmith

It's ok parents got a similar letter.
Theirs is two period (20/7-19/8, 20/8-9/10), $20,000 target, 2X miles on *incremental* spending.

$20,000 corresponds to their average monthly spending for last two months.

I'm recommending they not divert spending from Amex either. I'm realising only $0.10 per Asia Mile, $0.176 per Virgin Mile so I want them to earn more of the latter http://www.flyertalk.com/forum/catha...ying-club.html. Only if they spend way above $20,000 on Visa spending would it be worth it.

Edit 23 Jul 3PM: Autopay transactions *do not* count. As far as my parents are concerned, fuggetaboutit then. Thousands of their spending comes from golf club billing via autopay.

kaka

i just remembered: 40X at Mannings and 20X at Caltax would bring this to insane level of earnings (Mannings cap at $3000/mth, I think same applies to Caltax. Caltax you're allowed all the HSBC discounts as well)

IncyWincy

Never really paid attention to this - how does one work out the value of the rebate. If it is 40x at mannings and let's say I spend HKD 3K, how much is the savings? Thanks and sorry for ignorance.

percysmith

$3,000 at a 40X merchant = 3,000 / 250 x 40 RewardCash$ = 480 RewardCash$ = 480 x 15 miles = 7,200 miles or $0.4167 spending per mile.

Note that $300 conversion fee applies (buys you conversion ability for a year, but you must pay at least once).

MilesBuzz

There's a promotion for DBS cards at Festival Walk whereby you are entitled to free lucky draw for every purchase of HK$1,000 in maximum 2 bills. Note that if you already have 1 bill with transaction amount of more than HK$1,000; you are still entitled to only 1 chance. In addition, the promotion is only valid for weekends (Friday-Sunday).

I was entitled to 2 chances:
1. Won 10,000 Asia Miles on two bills worth just slightly over HK$1k.
2. Won a 5% rebate on a bill that was close to HK$6k. Note that for the cash rebate, a cap of HK$3k applies to the transaction amount (correct me if I am wrong here). So, in my case, I am expecting close to HK$150 cash rebate.

There's also some other cash vouchers to be won and also the cash rebate can be as much as 100%.

I think I will still go to Festival Walk for shopping for the remaining of summer

percysmith

Congrats. 10K miles is the second prize. 5% cash back isn't bad either.

I was looking at this, wondering if I get 5% all the time from Festival Walk:

http://hk.dbs.com/zh/consumer/credit...monthlyPromo14

The bit I object to is "或保證至少5%現金回贈" - that is not the lowest prize. The stupid Shopping Baby is. If I win the Shopping Baby I won't even take it home cos it'll increase my building's waste levy.

Other gifts are of dubious value - I highly doubt the Lancome and Kiehl travel sets are worth what DBS say they're worth. Cle de Peau and Guerlain go straight to girlfriend. Rockport $100 will be very hard to use so I'll discount that too.

BryanL

Why doesn't DBS offer more information on their English website as oppose to just their Chinese website. Why would they exclude those who can only read English?

I can't find any info about the Festival Walk promotion on their English site

dietevil

I'm pretty sure an English version will come out in a few days, but this shouldn't surprise anyone who lives in a Chinese city where the majority of people are Chinese who can read and speak Chinese.

percysmith

It's the bank involved. DBS HK is increasingly English-challenged.

Click in "Compass Visa lucky draw" from here http://www.compassvisa.com.hk/Default.aspx?lang=en-US. Chinese again.

Even the PRC-owned and run Bankcomm HK branch is more English-literate than DBS
http://www.bankcomm.com.hk/mediafile...df_9868_tc.jpg
http://www.bankcomm.com.hk/mediafile...df_9832_en.pdf

It's quite surprising given it is a regional bank with a Singaporean parent. You'd think they'd use English as their working written language, not Chinese. But then again DBS HK is really the former Kwong On, Dao Heng and OTB local banks.