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2021 Credit Cards

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  1. #121

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    Anyone looked into CNCBI Motion Card? Seems to be 5% cashback for online spending. Haven't done full DD on this but it seems there is a monthly limit of HKD100k a month to get the 5% cashback.

    https://www.cncbinternational.com/pe...d/en/index.jsp

    https://www.cncbinternational.com/pe...ard/en/tc.html


  2. #122

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    I think they cap the rebate at $100 a month. So, any online spend above 2K will not yield the rebate.

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  3. #123

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    Update on HSBC Red:

    Important notice: The new HSBC Red Credit Card Reward Scheme will be effective from 1 June 2021 until 30 June 2022. Under this new reward scheme, the first HKD25,000 of eligible online spending per calendar month for each credit card will earn 4% RewardCash. Any additional online spending that month will earn 1% unlimited RewardCash.

    https://www.hsbc.com.hk/credit-cards/products/red/

    https://cdn.hsbc.com.hk/content/dam/...conditions.pdf

    Need to figure out how to play my KeyChainPay Rent now as its over the HKD25k a month rate.

    Last edited by pin; 17-05-2021 at 11:52 AM.
    Cash Trader likes this.

  4. #124

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    A friend let me in on a credit card trick recently (disclaimer: have not tried this personally yet).

    If you get the octopus app, you can top up 500HKD from your credit card every day, and several cards give special bonuses for octopus top-up. (This might need to be auto-top-up, not completely sure)

    Then you can transfer it in the app to an octopus e-wallet and use it to pay your tax bill! Basically you pay your tax by credit card but super-juice the points.

    Is this a known trick? Any gotchas to watch out for?


  5. #125

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    think was it hogan or someone else mentioned that a year or so ago..... that 500/day charging thingy...

    and you can even over pay the government and then government will refund the overpayment...

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  6. #126

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    Quote Originally Posted by freeier:
    think was it hogan or someone else mentioned that a year or so ago..... that 500/day charging thingy...

    and you can even over pay the government and then government will refund the overpayment...
    I think it was @LoganH and there may be a thread about it.

  7. #127

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    Quote Originally Posted by GentleGeorge:
    A friend let me in on a credit card trick recently (disclaimer: have not tried this personally yet).

    If you get the octopus app, you can top up 500HKD from your credit card every day, and several cards give special bonuses for octopus top-up. (This might need to be auto-top-up, not completely sure)

    Then you can transfer it in the app to an octopus e-wallet and use it to pay your tax bill! Basically you pay your tax by credit card but super-juice the points.

    Is this a known trick? Any gotchas to watch out for?
    if i am not wrong Octopus can accept a maximum of 3000 in the card. so if you are paying 300k income tax, you need to top up your octopus 500 per day, every 6 days you have to send money to IRAS as income tax payment... not sure if they will refund you immediately if you overpay.. but essentially you have no way of actually paying off your tax this way as deadlines will come and go before your payment can be completed...

  8. #128

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    Quote Originally Posted by freeier:
    if i am not wrong Octopus can accept a maximum of 3000 in the card. so if you are paying 300k income tax, you need to top up your octopus 500 per day, every 6 days you have to send money to IRAS as income tax payment... not sure if they will refund you immediately if you overpay.. but essentially you have no way of actually paying off your tax this way as deadlines will come and go before your payment can be completed...
    I was told ther is some kind of e-wallet in the octopus app that you can accumulate the cash in. You do need to move over 500 HKD a day though, so not hassle-free. But you can fire that accumulated amount over to its in one pop.

  9. #129

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    Quote Originally Posted by freeier:
    if i am not wrong Octopus can accept a maximum of 3000 in the card. so if you are paying 300k income tax, you need to top up your octopus 500 per day, every 6 days you have to send money to IRAS as income tax payment... not sure if they will refund you immediately if you overpay.. but essentially you have no way of actually paying off your tax this way as deadlines will come and go before your payment can be completed...
    Could you not just pay it into your etax certificte account?

  10. #130

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    Quote Originally Posted by HK_Katherine:
    Could you not just pay it into your etax certificte account?
    i remember that was touched on and mentioned in the logan thread.. they probably blocked the Tax cert account numbers from the offer or something..

    but again technically the cost of this is likely foot by the credit card companies.. and the final payer before tax is octopus.. so they probably indifferent whether paid to real shroff account or the tax cert account. hmm...

    anyway these days most cc issuers are segregating the e-wallet payment from the rest.. so i guess once everyone picks up that trick they will block it anyway...

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