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CX to Cut AMEX [confirmed], SCB Cards; New Replacement Bank TBD

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CX to Cut AMEX [confirmed], SCB Cards; New Replacement Bank TBD

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Old Apr 28, 2020, 2:00 pm
  #76  
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Originally Posted by percysmith
Varies by institution. BOA HK (now CCB Asia) called their current accounts checking accounts and mm/dd/yyyy their checks until ~2014.
CCB (Asia) still uses "checking" account.
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Old Apr 29, 2020, 4:19 am
  #77  
 
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Originally Posted by garykung
CCB (Asia) still uses "checking" account.
Thats because they still use exactly the same IT systems as BoA did in 2014.

If you go the HK regulators website they use 'Cheque' and 'Chequing', so I will go for that as the correct official spelling.
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Old Apr 29, 2020, 6:12 pm
  #78  
 
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Is this rumor only for HK issued credit cards?
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Old Apr 29, 2020, 6:22 pm
  #79  
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Originally Posted by boybi
Is this rumor only for HK issued credit cards?
Yes, given co-brand cards are issued by different issuers in other parts of the world.
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Old Apr 29, 2020, 9:54 pm
  #80  
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CX’s issuer in the US is Synchrony. They’re big in store cards and subprime credit cards. This is not a great time to be in those markets.

https://www.businessinsider.com/pand...-volume-2020-4

Could be interesting times on that angle too.
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Old Apr 30, 2020, 1:25 am
  #81  
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Originally Posted by eponymous_coward
CX’s issuer in the US is Synchrony.
And RBC in Canada.
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Old Apr 30, 2020, 1:58 am
  #82  
 
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Considering UK has 7 daily flights to HK. Do they deserve a co-brand AM card as well?
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Old Apr 30, 2020, 2:15 am
  #83  
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Originally Posted by sin3386
Considering UK has 7 daily flights to HK. Do they deserve a co-brand AM card as well?
The same thing can say to Avio.
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Old Apr 30, 2020, 3:20 am
  #84  
 
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Originally Posted by boybi
Is this rumor only for HK issued credit cards?
Originally Posted by garykung
Yes, given co-brand cards are issued by different issuers in other parts of the world.
Umm, the old Citi card was issued in HK, Taiwan, and I think Singapore, too(?). The current AMEX card is issued in HK, Taiwan, and the Philippines. If the AMEX card will be replaced by this new card, it is possible the new card will be rolled out in a couple other markers, too.
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Old Dec 10, 2020, 9:37 am
  #85  
 
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Can confirm: Amex discontinuing CX cobrand in the coming weeks, will retain existing portfolio and transition to MR
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Old Dec 10, 2020, 11:28 am
  #86  
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Place your bet - who will be the unlucky winner?
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Old Dec 12, 2020, 4:54 pm
  #87  
 
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Originally Posted by garykung
Place your bet - who will be the unlucky winner?
with recent public money used to bail out recapitalize CX, i would say any bank with china influence, BoC, CCB, ICBC. dont think DBS - rivary of hk/singapore goes a long way.

i wonder who backs these money being given loaned to CX? a big-data and behaviral science analysis of CX card holder spending pattern is probably worth a lot, so that may have been one of condition for the person who backed this money (someone who empowers hk govt)
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Old Dec 12, 2020, 5:11 pm
  #88  
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Originally Posted by fakecd
with recent public money used to bail out recapitalize CX, i would say any bank with china influence, BoC, CCB, ICBC. dont think DBS - rivary of hk/singapore goes a long way.
I would say unlikely any Chinese banks. Based on the time when this rumor started, apparently the plan has been in place before CX got the money. So no.

Originally Posted by fakecd
i wonder who backs these money being given loaned to CX? a big-data and behaviral science analysis of CX card holder spending pattern is probably worth a lot, so that may have been one of condition for the person who backed this money (someone who empowers hk govt)
HKSAR Goverment. How the Government get the money is entirely different matter.
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Old Jan 3, 2021, 9:02 pm
  #89  
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Originally Posted by jona970318
Can confirm: Amex discontinuing CX cobrand in the coming weeks, will retain existing portfolio and transition to MR
Any news?
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Old Jan 4, 2021, 2:46 pm
  #90  
 
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Originally Posted by sxc
Any news?
Nothing public yet, but the impending discontinuation of the CX cobrand portfolio has already been booked in internal financials
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