Originally Posted by nycwaybe87 (Post 24690932)

wish someone could post a new thread about credit card because many of the info here needs to be updated

Originally Posted by fern76 (Post 24697545)

I'm missing a few hundred miles this month again but it's like taking a few years of my life just talking to them.

Originally Posted by carrotjuice (Post 24702330)

I wonder if many of us in this forum who suffer the same "several hundred miles missing every month" issue can come together, collate as proof, and send in a complaint to UOB. And if we don't hear from them satisfactorily, this will be a strong class action case to notify MAS.

Originally Posted by fern76 (Post 24702393)

I totally think it should be done and I am with you on this BUT

1. This is Singapore so the David vs Goliath class action thing doesn't really work out

2. Think it should be the hapless CASE which we have to notify and not MAS?

Originally Posted by carrotjuice (Post 24702594)

On the contrary. Banks in Singapore are terrified of MAS their regulator.

Originally Posted by chongsss (Post 24678155)

A return saver J redemption from SIN to LHR requires 136,000 KF miles and 866.90 SGD.

The same itinerary bought with cash would cost 7,416.90 SGD (for travel in Aug 2015).

In this case, 136,000 KF miles offset 6,550 SGD of airfare or one mile offsets 4.8 SGD cents of airfare.

Let's assume that I earn all my miles through UOB Preferred Platinum Visa on transactions which earn 10X UNI$ per dollar spent (= 4 KF miles per dollar).

If I value the flights at its actual cost, I am getting back at least 19.2% return per dollar spent (4*4.8), almost 4 times the 5% cash back offered by ANZ Optimum.

However, I am not willing to pay 7.4k SGD for a return business class flight to LHR. I am only willing to pay for the cheapest business class ticket available.

MH charges 3,765 SGD for a return J trip between SIN and LHR (via KUL) and I am willing to pay that amount. Using the same method of calculation, 136,000 KF miles offset 2,898 SGD of airfare or 1 KF mile offsets 2.1 SGD cents of airfare.

Using UOB Preferred Platinum Visa as the example again, my return would be 8.4% (2.1*4), still better than the 5% cash back offered by ANZ Optimum.

Ultimately, as shuigao pointed out, if one's valuation for J redemption is only 1,000 SGD, 5% cash back is a much better deal.

My valuation of the miles is similar to AddictedTraveller; I will probably look into rebates cards if they are offering >10% cash back (unlikely to happen).

Originally Posted by jagmeets (Post 24712577)

@percysmith
We do.
https://secure.mas.gov.sg/consumerfeedback/

Don't even need a written initial complaint. Have used it twice after being given the run-around over email/phone. The MAS forwards it to a liaison and the bank is bound to reply in writing within 14 working days. Much better escalation than a sole consumer would usually get.

UOB resolved an issue for me within a week, and Citi ended up eating a small overseas charge that had been wrongly DCC'd. (They, perhaps correctly, blamed the overseas merchant bank processing the charge, but their follow-up was so shoddy that a terse email highlighting the man-hours, print & courier costs that they'd already incurred, and telling them it was my final communication and the next one would come with an invoice for the cost & $ value of my total time wasted (annual income over 230 8-hr days being the formula) - right from the start(much like card charges incur interest post the pay-by date), cc'd to a few (named) Citi executives had them just cancel the charge out of goodwill).

Perhaps, time to start asking UOB / others for a charge by calculation of points. And escalating early to annoy them enough to start giving the details in each statement?

Originally Posted by jagmeets (Post 24712842)

Keep us posted. I think I'll perhaps re-audit my UOB earning once I'm back in a couple of weeks as well.

Originally Posted by AddictedTraveller (Post 24712637)

The response from UOB today after I chased them (following a lack of response for 3 days):

Please accept our sincere apology for the service experience with us. The inconvenience caused to you is deeply regretted.
We wish to inform that we are currently investigating on this matter.
Meanwhile, your kind patience and understanding is highly appreciated for us to provide you the outcome and investigation findings as soon as our findings are conclusive.

Originally Posted by fern76 (Post 24712809)

UOB doesn't even want to give the MCC for the txns and asking them for formal calculations is like squeezing blood from a stone. I think a 6 month run around for me is more than enough.

Originally Posted by fern76 (Post 24712809)

Thanks. I am going to go and do this. UOB doesn't even want to give the MCC for the txns and asking them for formal calculations is like squeezing blood from a stone. I think a 6 month run around for me is more than enough.

Originally Posted by carrotjuice (Post 24713321)

This is something that cheeses me off as well. Why can't MCC be disclosed readily? Why must MCC be so "secretive" when customers should rightly know whether a particular MCC is awarded bonus points or not... Especially when their cards are specifically designed to benefit spends on certain MCCs more than others?

Originally Posted by carrotjuice (Post 24713270)

Gosh... If even UOB themselves "need time to figure out" something which is supposed to be simple and transparent like reconciling points awarded by simple totalling up, how on earth do they expect customers to figure out on their own? Or do they expect customers to be oblivious / sweep under the carpet?

Originally Posted by percysmith (Post 24714568)

LchChester and I are working out how two card issuers, using the same card network (Unionpay), managed to classify the same terminal differently - one classified the merchant as dining, the other is hotel. Both cards were swiped within a minute of each other on same terminal.

Originally Posted by Archieflyer (Post 24725389)

In summary, there are some things that MAS will get involved in (mainly when a bank breaks MAS's rules & regulations) and a whole list of things that MAS will NOT get involved in (such as addressing service standards, contractual arrangements and civil disputes).

Unfortunately, issuance of rewards points for credit card usage is not something that is regulated by MAS. .

Originally Posted by Archieflyer (Post 24725389)

Before you all get your hopes up, please read this : http://www.moneysense.gov.sg/~/media...3FEB85154.ashx.

In summary, there are some things that MAS will get involved in (mainly when a bank breaks MAS's rules & regulations) and a whole list of things that MAS will NOT get involved in (such as addressing service standards, contractual arrangements and civil disputes).

Unfortunately, issuance of rewards points for credit card usage is not something that is regulated by MAS. Maybe, if you are kind, the MAS officer manning the helpline will just forward the mail to the bank, but they will not follow up, because it is NOT their business. The bank, in all likelihood, will acknowledge the mail, send you something that says we are looking into it, and you are back to square one.

To be honest, I read about folks here going back and forth with the bank over a few hundred points or miles over months and you have to ask yourself if this is worth the time...

Originally Posted by percysmith (Post 24725484)

This parallels HKMA's policies regarding the banks it regulates:

http://www.hkma.gov.hk/eng/key-funct...eaflet_b.shtml



Let's just say my personal experiences are HKMA *does* intervene in credit card promotion disputes, and in a big way. Of course, not sure if MAS is so cardholder-friendly, but you shouldn't simply throw up your hands simply because of what it stated as policy (it should be read as - it can choose to not help you. Or help you).

Originally Posted by AddictedTraveller (Post 24725671)

Had a look through the Jan and Feb bills and they are actually correct in terms of awarding 10X UOB$.

In terms of complaining the above statements are right, I doubt anything would be done by MAS to investigate. However there are other avenues.

Pesonally I'll just follow-up the complaint, at the end of the day if I don't think that UOB are living up to their T's & C's I can always take my business elsewhere.

(still waiting on the reply to my query lol).

Originally Posted by jagmeets (Post 24726127)

Archieflyer, while I agree that the MAS won't 'intervene', and I haven't read that whole link yet, my and a few friends' experience shows that they will forward your message to their liaison/designated officer with a bank.
That person usually wants to keep face with the MAS, has no clue about the issue and typically will rile a few people internally, in order to get a 'proper' response within the mandated time period. That in itself helps.

Eg: Yes, a 0.8% FX charge on top of a bad exchange rate in a DCC transaction is a 'commercial decision', but atleast the bank can't give you a run around on the wrongly processed DCC transaction.

And bank's take these things seriously (v true in Singapore & in general these days..rule#1 'Don't mess with the regulator'..and Compliance has, perhaps, been the only 'growth' area in many banks the past few years..).

If an issue isn't too frivolous, and one is in a head vs wall situation, I would use this as an effective escalation tool.

Originally Posted by rakso79 (Post 24731790)

What is the review of the American Express Krisflyer gold card? It gives 5,000 bonus miles on the first transaction, +50% miles with S$5,000 annual spend and another +50% miles with S$12,000 annual spend.

Do people just take the welcome gift 5,000 miles and stop using the card because even with +100% miles, the UOB PRVI and ANZ Travel still give more miles per S$?

Originally Posted by rakso79 (Post 24734137)

How much do you pay to redeem those miles? I assume the 5,000 miles is still well worth it after the redemption payment?

Originally Posted by fern76 (Post 24726342)

I wasn't bothered about it initially and let it go on under my nose for quite some time but it got to the point where it was not funny anymore and I had enough of their BS. I check my bills and UNI$ religiously every month after I realised that they were not tallying correctly during a random 'audit' I performed on my UOB statement. In fact, it was a post here that made me do the audit.

As a customer, I feel that I have the right to know why there is a discrepancy and if their answer is fair, it is fine. But do not give me the run around without proper answers. I do not appreciate that.

I did not think that the MAS would be bothered but I did get a response from them and UOB today. UOB is supposed to respond to both MAS and myself with regards to the issue. I am surprised and still not holding my breath so let's see where this goes.



I concur. We are paying customers and we do not deserve this poor treatment for sure. UOB just needs to take a few random miles off their thousands of unknowing customers to improve their margin. That is not right.



I can take my business elsewhere and I was going to but their CSO randomly called me up again to 'follow up' on the case. Since it seemed like they were going to do the right thing, I just pursued it. But the CSO then decides to disappear without calling me back again. Seriously, how much time do they think I have to play hide and seek with them.



Thanks for the heads up and yes, as I mentioned, I did get a reply from MAS and UOB. Very swift once u complain to the big boy.

I didn't think so much of my issues but over time, they have built up simply because they were unable to provide straight answers to my earlier ones. And because I knew I could not trust this bank anymore, I have records of all the CSOs I spoke with since last August and their responses so UOB can't blindside me about the issues.

Well, let's just see where this goes.

As I told the CSO who called me earlier and informed me that the call was being recorded for monitoring and service quality purposes, it would be a fine thing if they had any quality at all. ;)

Originally Posted by fern76 (Post 24737019)

For all interested, UOB has gotten back to me good and proper this morning.

One working day was all that was needed when MAS forwarded them my complaint.

I am satisfied with their investigations and am making sure they are writing me the explanation in black and white.

So yes, they are afraid of the big boy. MAS is your way to go if like an earlier post said, the complaints are valid.

Originally Posted by Awesom Andy (Post 24737249)

The UOB PRIV Amex/MC cards will have their earnings reduced to 1.4 miles per local dollar, and 2.4 miles per foreign dollar from 15 May. Wiki has been updated.

Originally Posted by jagmeets (Post 24738034)

@percysmith - hasn't HKG always been more Laissez Faire?