percysmith

I'll just briefly outline the procedure for cash advancing to manufacture spend whilst avoiding finance charge:

Best to do this:

- between Monday to Friday 00:00-14:00
(Bank can claim Finance Charge if there is a day difference between transaction and posting.
I don't know for sure what times banks cut off but 14:00 is definitely safe - even cheques haven't cut off then.
Lunch is a good time to do this.)

- at an ATM of the card issuer (i.e. CCB at CCB ATM - yes. CCB at Bankcomm ATM through JETCO - no)
(Some banks are good on Saturdays too e.g. Dah Sing but I won't bet on it. You risk next day posting if through JETCO or some other card association. I think there's a 10-day posting horror story on hongkongcard.com with CCB card (ATM operator unknown)(http://www.hongkongcard.com/forum/fo...ow.php?id=5430).

- pay your
1. entire outstanding balance;
2. the amount you intend to withdraw; plus
3. handing fee (e.g. Citi 4%)
(if the amount ever falls to debit during a cash advance the banks can be very vicious - they can claim finance charge on your statement balance from your last statement date. In fact if you plan to continue to use this card it may be worth putting in more than less)
on the day before your cash advance
(if PPS, make sure your amounts are paid in before 19:00)
(if HSBC Internet Banking, 16:30)


As analysed above this is not great for Citi, but it's actually worthwhile for CCB 939
CCB awards basic 1X points for cash advance, so cash advancing $12K yields 12K basic+75K extra points = 5,800 miles
Fee: 3.5% or $420. Cost per mile: $0.0724/mile
(if paying in the $12K by HSBC to CCB CUP, get an extra 720 miles. Cost per mile: $0.644/mile. Note CUP has $10,000 cash advance limit/day so best to withdraw $6,000/day for two days.)

Mafai

Hi PercySmith

Thanks for the citibank analysis and the step by step on the cash advance. Appreciate it.

I'll rethink the citibank offer and if i do go ahead with the cash advance, will post back. My gut feeling i may be screwed with Citi giving their practice of gouging fees all the time. BTW the target X offer amongst us are 1x,xxx, 3x,xxx and 5x,xxx! Seems the less use of the card, then the lower the target. So those planning future promos from Citi, don't use the card till you get a good offer!

One more thing, it seems obvious, but when cards say "retail transactions, 'online transactions' are 'Eligible Transactions' etc.. with original credit card sales slips and original merchant sales receipt".....

Pretty much ignore the fact that online transactions don't have receipts? Or do I need to goto Cathay's office to issue a ticket and request a receipt? I've had issues with HSBC before with online transactions as not eligible.

Thanks again

percysmith

The definition's stupid:

"All local and overseas retail transactions, mail/fax/phone order and monthly installments of newly billed interest free installment plan posted during the Promotion Period, with original credit card sales slips and original merchant sales receipts "

How am I meant to produce a original card slip for say AM redemption YQ redeemed over the phone?

To avoid doubt (and because Citibank's Shxtibank) I won't advise play this offer on mail/fax/phone order. I don't have a Shxti card anyway and this offer won't make me come back.

percysmith

https://www.redhotoffers.hsbc.com.hk...I_M_REDHOT_014
http://www.hongkongcard.com/forum/fo...w.php?id=11847

This operates as extra 5X on 6X = 11X

20 Feb-31 Mar: only $4,500 quota

MilesBuzz

Kinda difficult to decide to spend just on Friday. Anyway, the quota is kinda small.

marcuslai

For HSBC 11x RC on Fridays, does anyone know what is the definition of "Friday" ? It is not defined in the T&C. Overseas is my 5X category, and Friday in Hong Kong overlaps very little with Friday in Vancouver for example.

Never mind, I called the hotline 2748-8033, and the lady said it is the 24 hours for Friday in Hong Kong.

CanucksHKG

Thanks for calling in. Interesting...I would have assumed they would just go by the "transaction date" and give you the 11X if your transaction was made on a calender date that falls under a Friday...

percysmith

Marcuslai - I find that answer intriguing. When I paid for dinner with my BEA HK Visa in Restautant Botin Madrid sometime between 10pm and 12am 23/10/13 local time, the transaction date still appears as 23/10 HK time in my BEA HK statement - I just confirmed with BEA.

Local time prevails. I am very suspect of HSBC's answer.

Mafai

Yeah, agree stupid terms and Shxxty bank. Only keeping because points don't expire from prior spendings.
Thanks again

go_around

Can I just check something - on the "miles for tax payment" mechanism, is using HSBC Platinum to pay off CCB treated by HSBC as a cash advance?

Stnf

No it won't treat as cash advance.
I used the CCB dual currency card to paid tax and then HSBC P to settle the CCB statement. Earn RC on that.

Also strangely I receive 3 x $50 Manning coupon from CCB last week, said it was from using their card to pay tax

percysmith

Correct. Treated like any other bill payment - you get 28-56 interest-free credit days.

That was the 50 Mannings for $5K tax/100 Mannings for $15K/150 Mannings for $25K promo on the CCB cards themselves in December. Supposedly they gave out to "first 8,000 cardholders" only but I suspect they gave them to everyone. Icing on the cake really.

go_around

Great. I also received a Haagen-Dazs voucher when first applying for my CCB card (even before a decision was taken), and recently noticed I get 30% off all drinks orders at Pacific Coffee when paying with CCB Titanium Mastercard (but only sometimes with CCB UnionPay Dual Currency). Not sure why but happy to reduce my coffee bill by 30% a time...

percysmith

OT in the perspective of FT, but you're enjoying a published offer without being aware of it:

http://www.asia.ccb.com/hongkong/per...ic_coffee.html

go_around

Ah! I had done a bit of Google searching and nothing came up... possibly because their text is all in image format so wouldn't be indexed as text... thanks for pointing out!