percysmith

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5.2% = $0.156/3 (fubon $3/mile).
- 1.57% credit card exchange rate premium over cash = 3.63% (sorry not 3.5% as stated above).

sp23

Cheers! I think I get it now. In my instance it would be a rebate of 0.156/4 (Shacomm) = 3.9% - 1.57% exchange rate premium is 2.33% earnings. So basically, if I spend $100 overseas, it will cost me $101.57 but I'm actually getting $103.90 value. So I "make" $2.33 so it's actually only costing me $99.24 for $100 value. (hmm..Something seems wrong with this logic, but I just can't put my finger on it...)

kaka

from what i can see, you're right. the $0.76/0.76% is what the card issuer rebate you for using their card at the cost of the shop, which the shop should have priced it in the pricetag of their goods.

sp23

Cool, so I'm actually earning 76 cents in this transaction. As opposed to earning nothing when paying by cash (unless I get a discount for a cash purchase). It's looking good! =D

Thanks for everyone's help and the little maths/economics tutorial!!

percysmith

You have a higher valuation for miles than banks are probably paying for them. You value miles at $0.156, it costs banks $0.08-0.096 to buy them http://www.hongkongcard.com/forum/fo...hp?id=5307&p=8

Paying you $3/mile @ $0.096 costs Fubon 3.2% of transaction amount. For that, Fubon earns 1.85% foreign currency transaction fee from you and about 2% from the overseas merchant - it still makes 0.65% profit.

Of course the merchant will have to bear additional costs if you card. It either increases prices by 2-3% or charge it as a surcharge whether legally (Australia) or illegally (most other jurisdictions).

sp23

I know why I'm confused. It's the fact that I'm paying $101.57 for a $100 dollar item, to get $103.90 value which supposedly only costs me $99.24. But I couldn't work out how come it ends up costing less when in reality I've paid $101.57. The answer is that I'm getting the value back in AM ie I'm actually swapping (buying?) AM. Yes I know, I know, it's not such a big revelation but it's seriously been bugging me ALL DAY.

Anyways, thanks guys for bearing with me, I'm pretty sure I can sleep well tonight knowing I've finally understood this conundrum!

fakecd

HSBC (HK) offering "$200 reward cash" (3000 Asiamiles) for those who never placed a "Deposit Plus" or "structured investmentment" in last 6mth. It appears to be selected so log-in your internet banking to see if you qualify. Minimum investment required 50,000 HKD.

It may sound dodgy but here's what you can do. There's no restriction on the type of "deposit plus" you need to place. If you choose a short-duration, low voaltillity FX pairs to play/invest your risk is limited and earns free 3000 asiamiles. I've placed 50k HKD for 8day time deposit linked with JPY, with forced conversion to JPY if yen weakens. if JPY strengthen, I get principal back in HKD. eitherway I earn i% is 2.7%/annum. I need JPY for personal use anyways (so forced conversion not an issue), or JPY is such a low-vol currency pair unlike AUD or EUR.

** disclaimer ** this is not your investment advice .. bla bla bla....

fakecd

HSBC launched their dual currency RMB-HKD credit card.

Welcome bonus is 500 reward cash (7500 Asiamiles) for new customer to HSBC or 300 reward cash (4500 asiamiles) for existing customer.

burning rates is nothing to write home about, but welcome bonus is free gift provided u meet the spending criteria (8000 hkd in first 60 days or something)

kaka

8000hkd for 4500AM on a unionpay?....
I might just give it a pass unless you know you'll get the 8000hkd on a unionpay... Sogo? is Times square and harbour city a 100% CUP mall?

percysmith

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$5,500 and $3,500 respectively
https://www.hsbc.com.hk/1/2/special/cards/prom227
https://www.hsbc.com.hk/1/PA_1_3_S5/...m227_tnc_e.pdf

Bill payments on these cards count for the welcome offer, but not tax payments.

kaka

oh, so $5500 for 7500 miles or $3500 for 4500 miles? sounds like a better deal now...

compared to 2800HKD for 5000 miles..... still not the best (Wing Lung CUP).

percysmith

Yeah but Wing Lung Bank hates me...

http://www.hongkongcard.com/forum/fo...hp?id=5933&p=2

percysmith

Sorry the following discussion on iPhone4S scalping will be mostly be linking to Chinese materials:

http://hk.news.yahoo.com/%E5%AE%98%E...224520361.html

1. Some scalpers have managed to set up scripts to secure IFC Apple Shop bookings. Apple's trying to stop them, but the scalpers just update their scripts.

2. Yesterday, Apple Store app suddenly made 16G iPhone4S available for sale between 10:18 and 11am. I managed to put in two orders under two different Apple IDs for four 16G iPhone4Ss.

I was alerted by this iphone4hongkong.com service (free) http://www.iphone4hongkong.com/2011/06/sms.html, which updates Google Calendar which in turn sent an SMS to me. I was logging into the store by 10:22am.

Current Sin Dat sale prices here: http://www.iphone4hongkong.com/ . I observed posted prices of $6,750 for Black 32G last night.



Relevance to Asia Miles - I made 4,166 miles from two morning pre-work detours to Apple Shop plus 3,925 miles for the four online orders. Not to mention I knocked out my churned Premiermiles 10,000 mile welcome offer spending requirement with it.

kaka

grrr the app currently does not let me in the ifc store all together....
why cant they do the text recognition so to filter out script-filled orders?


btw, can someone here sum up HKG-based CUP usage in HK?
for that i know: the big 2 supermarkets, SHKP and HK Wharf shopping malls, Regal hotels, and...?

percysmith

http://www.hongkongcard.com/forum/fo...hp?id=5907&p=2
http://www.hongkongcard.com/forum/fo...ow.php?id=5820

(I'm only discussing acceptance of *HK-issued* Unionpay among merchants who claim to take Unionpay in HK. This does not cover merchants who won't take Unionpay - e.g. medical clinics, smaller sports retailers, computer centre shops. Those in the "No" column take PRC-issued Unionpay only)

Yes:
Wellcome, Park'N'Shop chains
Mannings, Watsons, GNC
Apple Store IFC
Most shops within one block of Canton Road
Jewellery shops, watch shops
Sa Sa
Retail chains e.g. Broadway
Department stores e.g. LCX
Hospitals

No:
Online and phone order merchants e.g. AEG ticketing
Urbtix
2/3s of dining outlets and bars, even in hotels
Some telecommunications providers e.g. Smartone