Visa Infinite vs HSBC Premier Credit Card

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  1. #1

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    Visa Infinite vs HSBC Premier Credit Card

    Im with Standard Chartered and I got a Visa Infinite Credit card from them last night. From my understanding, its their higher end offering that is comparable to the HSBC Premier Card.

    I notice it has some nice features and just wanted to do a quick comparison between the Visa Infinite and HSBC Premier. From what I can tell, the Visa Infinite is way way better. But perhaps someone with more knowledge of the HSBC premier can correct me and swing my bias towards the other side. I generally dont like HSBC and am biased against them, but Im not an SCB salesperson either. In fact, Visa Infinite is offered by many banks in HK and not only SCB, whereas HSBC seems to 'go it alone' with their offerings and they so often do (such as not being part of the JETCO network that every other bank in HK is part of).

    This is the main features of the Infinite that the Premier seems to not offer:
    - 2x points compared to the Platinum on ALL spending (local or overseas). Its hard to tell from HSBC site if they have this, I think not otherwise they would probably state it clearly.
    - You earn points not only on credit card purchases, but also money you have in savings, fixed deposits, insurance products etc. For example, for every $10k in your savings account, you will get 500 bonus points per month (max 10,000 points per month). For every HK$1m in outstanding mortgage balance, you will get 10,000 points per month. etc. Interesting. I never knew banks offered this type of thing.
    - Free airport lounge access (primary cardholder only) in 600 airports worldwide. Spouse is HK$200 extra per visit.
    - Free upgrade at Starbucks (tall to Grande, grande to venti, etc)
    - Private airport limo $250 per trip to Kowloon, $280 to HK (greet with messageboard at airport etc)
    - Free travel insurance for you and family members every time you travel overseas. (Up to US$1,000,000)
    - A bunch of other crap I am not interested in (waive golf green fees at 9 courses around the world, blah blah blah).

    On top of this, to qualify for Infinite, you dont need HK$1m in the bank (total relationship balance) like you do with HSBC. If you autopay your salary, its only $500k balance requirement and you get all the other "Priority Banking" crap that is basically the same as HSBC Premier crap.

    With this in mind, I can not for the life of me understand why someone would hold a HSBC Premier Credit Card over a Visa Infinite.


  2. #2

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    Ok but you're talking about the credit card. I've never really investigated it but surely you don't need any relationship balance to apply for a credit card, whether from HSBC or SC? Banks are normally more than happy for you to take out credit cards with them as they represent easy money for the bank in terms of the fees they charge retailers on your purchases.

    The reason for opening a Premier account (for me anyway) is so that you can transfer money easily between different currencies and accounts linked together in their international network. Certainly I agree that if you don't need that facility there's no particular benefit (as far as I can tell) to applying for a Premier account (or indeed any other kind of premium account), which is why we had a perfectly ordinary account until recently, which works perfectly fine for almost anything you might want to do. If the Standard Chartered Account offers international networking as well then I would consider switching.


  3. #3

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    The dining discounts with HSBC are much better than with the SCB Visa card.

    Further, are you sure its travel insurance, as opposed to travel accident assurance?


  4. #4

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    Quote Originally Posted by dipper:
    Ok but you're talking about the credit card
    Yes I am just comparing the best credit card at the bank most famous amongst expats (HSBC) vs the best card at one of the other banks (Stan Chart). The fact you need to join Premier or Priority to get the card was not really the focus.

    For me at least, I prefer to do all my business with one bank and I prefer to have only one credit card. I dont want a savings account with one, then a credit card with another, etc.

    On the dining issue, Pin is correct that it is quite good at HSBC. But Stan Chart isnt that bad either. They have thousands of places where you can get a discount too.

    On the travel insurance issue, it is called "travel accident insurance". But it covers luggage loss or delay, flight delay, air ambulance to HK if you get sick, coverage for spouse and dependents, etc. So I am not sure what more you could ask for.

    But in particular, the 2x points on ALL spending and getting points on how much balance you have in savings, fixed deposits, etc was what really surprised me. I have not heard of this before. On top of this, you can redeem 200 points to get $1 back, whereas HBSC is typically 250 points to get $1 back (12,500 points for $50 voucher).

    Unles HSBC have some hidden gems they dont reveal on their website, then I find their Premier credit card to be a pretty weak card overall.

  5. #5

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    I'm not knocking SCB Visa Infinite in any way (I have it for starters), but I don't think its the best card for all situations.

    Just remember, the only way to get it free though is to be an SCB priority banking customer, which not everyone can be (you can get the card otherwise, but you have to pay for it).

    One HUGE benefit over SCB priority v. HSBC premier is the ability to do worldwide transfers to other HSBC accounts for free.

    As a result a lot of people may prefer banking with HSBC for that reason. Also you should note that other banks (such as Hang Seng) offer Visa infinite products very similar to SCB.


  6. #6

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    Quote Originally Posted by bdw:


    - You earn points not only on credit card purchases, but also money you have in savings, fixed deposits, insurance products etc. For example, for every $10k in your savings account, you will get 500 bonus points per month (max 10,000 points per month). For every HK$1m in outstanding mortgage balance, you will get 10,000 points per month. etc. Interesting. I never knew banks offered this type of thing.
    hi dbw,

    I did not find the same rates quoted on the standard chartered website.

    according to this link Standard Chartered Bank - Priority Banking - Priority Benefits

    for investment, every 100k will net 500 points (not 10k)

    for oustanding mortgage balance, it says every 100k oustanding will net 100 points, or 1000 points per million (not 10,000).

    perhaps i am not understanding the rates?

  7. #7

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    Hi Liebling,

    Sorry, you are right. I made it sound better than it really is. When I wrote the message I did not have the brochures in front of me (or that web site) and I was going from memory of what I read the night before.

    In any case, the main point being that you earn credit card points each month based on the amount you have in your savings, fixed deposit, outstanding mortgage, or other investment accounts. Its quite a new concept to me. I only ever thought there was one way to get points: by spending money.


  8. #8

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    I don't think those two cards a comparable at all. The Visa Infinite is placed above the Visa Platinum, whereas the HSBC Premier is a step below the Platinum in my opinion.
    Nothing special about the Premier card, it doesn't even come with airport lounge access. It's just the card they give you when you open a Premier account, the only advantage over a normal MasterCard might be the pre-approved Premier Card for your family members.
    The dining offers are mediocre at best as well, no "Premier" type restaurants which offer privileges. I already have all my accounts, insurance etc with HSBC otherwise I would consider switching to SCB, the Infinite card surely sounds nice. And it probably gets you some more "face" than that ugly blue MasterCard


  9. #9

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    Free airport lounge access (primary cardholder only) in 600 airports worldwide. Spouse is HK$200 extra per visit.
    You need to call the hotline and order the Priority Pass membership card. As far as I know you won't be allowed into the lounge just with your credit card.

    Private airport limo $250 per trip to Kowloon, $280 to HK (greet with messageboard at airport etc)
    Do you have any info on this? Where to book it? I may be in need for this sooner or later (additional family member plus baby stroller etc).

    Free travel insurance for you and family members every time you travel overseas. (Up to US$1,000,000)
    Please note that you need to purchase your ticket with the credit card for the insurance to be valid.

    This is not the same for all Visa cards world wide. For instance on my European Visa I don't have to pay the ticket with the card, but I need to have used it within 2 months prior to the trip. And the insurance won't cover trips to what could be considered your "second residence". Not sure if the latter part is true for the Visa Infinete too.
    Last edited by 100LL; 29-03-2011 at 06:27 PM.

  10. #10

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    Quote Originally Posted by 100LL:
    You need to call the hotline and order the Priority Pass membership card. As far as I know you won't be allowed into the lounge just with your credit card.
    Yes I called the hotline and it was an automated system where I entered my card number and they will mail out the Priority Pass within a week.


    Quote Originally Posted by 100LL:
    Do you have any info on this? Where to book it? I may be in need for this sooner or later (additional family member plus baby stroller etc).
    Im reading it in the glossy brochure they sent out. I cant seem to find it online easily. But its a airport limousine service. Cost is $250 to Kowloon and NT, $280 to HK. Choice of limousine models available. Book by calling 27682880.

    Quote Originally Posted by 100LL:
    Please note that you need to purchase your ticket with the credit card for the insurance to be valid.
    This is not the same for all Visa cards world wide. For instance on my European Visa I don't have to pay the ticket with the card, but I need to have used it within 2 months prior to the trip. And the insurance won't cover trips to what could be considered your "second residence". Not sure if the latter part is true for the Visa Infinete too.
    This is not clear from the documentation I have. I guess I will call them to confirm before my next trip. Thanks!