Rewards of Your Choice 6X yes
Today's overseas promo no "5."Eligible Overseas Transaction" is a transaction with original sales slip or official payment record conducted with an Eligible Credit Card during the Promotional Period outside Hong Kong and in any currency except (i) Hong Kong Dollars, and (ii) Renminbi ("RMB") paid with UnionPay Dual Currency credit cards"

too bad online doesn't count. Transactions including online transactions, mail, fax and telephone orders, instalment plans, casino transactions and unposted/cancelled/refunded transactions will not be eligible for this promotion.

Has any USA-based HSBC USA Premier customer tried to open the HSBC World Premier (HK) card? Those red hot offers look pretty good!

Thanks, perfect timing for my two week trip to New Zealand. With Visa Signature (which I have set to dining), this is still better than Citi Prestige and CCB Eye (paywave only) for in person foreign spending.

I have a mate who did but he moved here.

Are you trying to open one without being resident? Sure...I think that is possible but you may have to visit...

The latter. I do visit HK for family reasons, but it would delay the process. I'll have to inquire with a Premier USA banker here; just looking for a data point.

You might want to look at this post from amd950 http://www.hongkongcard.com/index.ph...w/10983?page=1 , but you're going the other way round.

Where will the HKD spend be coming from anyway?

Perhaps I'm confused. Is HKD spend required? I see offers for "Overseas Spending". I assumed rewards would be calculated using the HKD equivalent of overseas spending in e.g. USD

It is. Because HSBC HK Premier MC has 1.95% FTF (HSBC US Premier MC has 0% FTF, my mate brags about it, but here he is subject to 1.95% FTF on the HSBC HK Premier MC). If you're not spending in HKD, it gets a bit costly:

You can earn HK$100,000 under 6X i.e. spend US$12,642.23 for at least 36,000 Avios. I am only trying to come up with a cpm, so let's assume you max the HK$100K.

You are subject to 1.95% FTF and HK$300 mileage programme fee. On US$12,642.23 this is US$241.81 and US$37.93.

I also understand you earn roughly 12,642 Avios for US$12,642.23 spend. So for using HSBC HK Premier MC instead of HSBC US Premier MC you are earning 23,358 more Avios.

Is 23,358 Avios worth US$279.74 (241.81+37.93) cost (1.20 US cpm)?

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This is not the first time I've been asked about double conversion mileage earn. Once I point out we *do* have FTF here, the arbitrage you are hoping for disappears.

If you have HK$100,000 HKD spend, you avoid the fee, but you don't earn the 6X overseas spending earn.

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There are other complications besides applying for HSBC HK Premier banking account and credit card after that:

1. You need to settle the HSBC HK Premier MC in HSBC HK with HKD. You will have to arrange for T/T (even if it's free)

2. Redemption isn't easy. Are you a Cantonese speaker? Avios redemptions cannot be done online, HSBC HK's English line has no idea what Avios is (anecdotal evidence from two FTers) and HSBC HK no longer accepts forms by fax so you're going to have to mail an original-signed forms from US to HK.

Does this include the original cap of HK$100,000 for 2017?

The Visa Signature 3X and the Rewards of Your Choice 6X will eat into their respective $100,000 2017 quotas.

Percy, thanks for your detailed analysis of the logistics involved. I assumed that there wouldn't be an FTF, since the HSBC USA Premier MC doesn't have one--oops! My wife speaks Canto fluently, so that's not a problem.

On this latest HSBC promo for overseas spend, it's definitely worth doing for those who registered for overseas or China spend. For the others, not that much better than Citi premier miles - $2.77/AM vs 3. Am I right?

Not that much better yes
But with Citi Premieremiles you need to spend $20,000 to get that rate.

Got a text last night:
"Citibank: Travel abroad or shop online using foreign currency to earn HK$3 = 1 mile with your Citi PremierMiles Card on reaching local or overseas transactions of HK$20,000 within one statement cycle. Visit: citibank.hk/pm . T&Cs apply. EN/UN +85228600399"

Local OR overseas. Was there a change? I also thought it's only after 20k foreign transactions in a cycle.