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2020 Credit Card

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  1. #1

    Join Date
    Nov 2008
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    4,298

    2020 Credit Card

    Welcome to the Twenty Twenty Credit Card Thread (take that Google!)

    What am I doing?
    - about to cancel my Citi Prestige (I've got a positive balance which they won't refund, so I need to spend it first) - benefits are rubbish now
    - probably going to open a HSBC Red *
    - On the hunt for the next best card

    What are you doing?

    * just did it, took 2 minutes literally - unbelievably the online process is PERFECT, even allows you to set up the automatic direct debit to pay the monthly bill... incredible!

    Last edited by robertlempriere; 09-01-2020 at 03:55 PM. Reason: cats
    AsianXpat0 likes this.

  2. #2

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    13,687

    What are you after? Miles? Points? cashback?

    For reference my strategy this year is as follows:

    - HSBC Red (online mainly)
    - SCB Cashback
    - HSBC Signature (for dining)
    - Citi Rewards (for phone and internet bills as well as supermarket, etc shopping)
    - Citi Prestige (still get benefit for the get one night free at a hotel and also for the extra 1 year warranty on certain goods)

    Will only really carry two cards in my wallet though (SCB cashback and HSBC Signature).

    The card I intend to ditch is CCB Eye.

    Last edited by pin; 09-01-2020 at 05:02 PM.
    AsianXpat0 likes this.

  3. #3

    Join Date
    Nov 2008
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    Good question, not interested in miles, prefer points/cashback..

    I'm going to start simple with
    * HSBC Red as default card
    * Citibank platinum debit with global wallet for overseas transactions (online and offline)
    * Keeping the HSBC Signature as the promotions are sometimes attractive


  4. #4

    Join Date
    Oct 2006
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    Hong Kong
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    Quote Originally Posted by robertlempriere
    Good question, not interested in miles, prefer points/cashback..

    I'm going to start simple with
    * HSBC Red as default card
    * Citibank platinum debit with global wallet for overseas transactions (online and offline)
    * Keeping the HSBC Signature as the promotions are sometimes attractive
    You may want to consider SCB cashback for 1.5% cashback local / 2% cashback abroad.

    What's the deal with the global wallet? How does it work? I have it, never used it. I also have a citi debit card, again never used it.

  5. #5

    Join Date
    Nov 2008
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    Quote Originally Posted by pin
    You may want to consider SCB cashback for 1.5% cashback local / 2% cashback abroad.

    What's the deal with the global wallet? How does it work? I have it, never used it. I also have a citi debit card, again never used it.
    Cheers, I was avoiding signing up to another bank, but SCB seems to be a recurring theme... will need to look into it properly.

    Global Wallet is excellent - essentially you have multiple currency accounts, which you can use just like any other account.
    E.g. you can buy AUD when the time is right (let's not discuss rates, they are reasonable but I'm sure you can get better outside of the big banks)
    Then, you transact using the Debit card - which functions exactly like a regular mastercard - and the funds are automatically debited from the appropriate account. No fees, no transaction/switching cost, nothing.

    You can have 10 or 12 currencies in the account, I've only used two (JPY and AUD) - but I've used them both successfully overseas, both using the physical card as well as the card embedded in Samsung Pay.
    pin likes this.

  6. #6

    Join Date
    Jan 2017
    Posts
    256

    I got SCB Cashback CC 2 weeks back for 1.5% cashback.

    Currently have Citibank Cashback card with 2% on dining and 1% on other spends - might as well close this one. This one requires accumulation of $200 before cashback can be credited in statement where as SCB needs accumulation of $50 only.

    robertlempriere likes this.

  7. #7

    Join Date
    Mar 2007
    Posts
    248

    Optimal allocation of cashback points

    This is my proposed allocation of spending. I seldom travel but do eat out during weekends


    Online purchases - HSBC Red - 4% cash back
    Restaurants and hotels - Citibank Cash Back - 2% cash back
    Telecommunications - Citibank Rewards - 5x Rewards which translates to 2% cash back
    Supermarket - HSBC Red / Citibank Cash Back - 2% cash back, or Citibank Rewards - 5x Rewards which translates to 2% cash back
    Overseas spending - HSBC Visa Signature 6x Rewards which translates to 2.4% cash back (could be higher depending on offers). Need to allocate reward points in this category.
    Octopus AAVS - Standard Chartered Simply Cash - 1.5% cash back
    Payme / Alipay / Wechat pay - Standard Chartered Simply Cash - 1.5% cash back
    Utilities - use Alipay to settle utility bills and earn 1.5% cash back
    Everything else - Standard Chartered Simply Cash - 1.5% cash back

    How to redeem cash back

    HSBC - Rewards+ app to allocate RC to settle bills
    Citibank - Offset bills once cash back reaches $200 (bummer)
    SC - Offset bills once cash back reaches $50


    Appreciate your thoughts and ideas, thanks.


  8. #8
    bdw
    bdw is offline

    Join Date
    Feb 2009
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    5,659
    Quote Originally Posted by robertlempriere
    Good question, not interested in miles, prefer points/cashback..

    I'm going to start simple with
    * HSBC Red as default card
    * Citibank platinum debit with global wallet for overseas transactions (online and offline)
    * Keeping the HSBC Signature as the promotions are sometimes attractive
    I don't think the red is good as a default card. It's good for online and supermarkets only. Look at SCB as a default card

  9. #9
    bdw
    bdw is offline

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    Feb 2009
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    5,659
    Quote Originally Posted by muzzdang
    Overseas spending - HSBC Visa Signature 6x Rewards which translates to 2.4% cash back (could be higher depending on offers). Need to allocate reward points in this category.
    Actually it's 3.6% cashback minimum (up to$100k per year of spending) which can go up to 5.6% when combined with other offers and meeting certain criteria. The extra 1.2% is the signature benefit which is added on top.

  10. #10

    Join Date
    Jan 2010
    Posts
    3,261
    Quote Originally Posted by muzzdang
    This is my proposed allocation of spending. I seldom travel but do eat out during weekends


    Online purchases - HSBC Red - 4% cash back
    Restaurants and hotels - Citibank Cash Back - 2% cash back
    Telecommunications - Citibank Rewards - 5x Rewards which translates to 2% cash back
    Supermarket - HSBC Red / Citibank Cash Back - 2% cash back, or Citibank Rewards - 5x Rewards which translates to 2% cash back
    Overseas spending - HSBC Visa Signature 6x Rewards which translates to 2.4% cash back (could be higher depending on offers). Need to allocate reward points in this category.
    Octopus AAVS - Standard Chartered Simply Cash - 1.5% cash back
    Payme / Alipay / Wechat pay - Standard Chartered Simply Cash - 1.5% cash back
    Utilities - use Alipay to settle utility bills and earn 1.5% cash back
    Everything else - Standard Chartered Simply Cash - 1.5% cash back

    How to redeem cash back

    HSBC - Rewards+ app to allocate RC to settle bills
    Citibank - Offset bills once cash back reaches $200 (bummer)
    SC - Offset bills once cash back reaches $50


    Appreciate your thoughts and ideas, thanks.
    How are you planning on earning any meaningful miles or cashback if you split all your purchases over a hundred credit cards?
    Paxbritannia likes this.

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