2023 - Credit Cards / Deals / Discounts / Cashbacks

pin · 07-02-2023, 02:40 PM

I guess time to start a 2023 thread following on from the 2022 thread: https://geoexpat.com/forum/135/thread362327.html

My strategy this year, at present is the same as last year, however I've gotten rid of my Citi Prestige card, which I never really used.

In HK / HKD
1. Online and Google Pay - BOC Chill up to HKD3261 a month [5%] (all categories)
2. Alipay and online - CCB JD [4%] (up to HKD142,857 a year in total)
3. Online - HSBC Red [4%] (up to HKD12.5k a month in total)
4. Google Pay up to HKD2000 a month - BOC Sogo [5%]
5. Google Pay next HKD1111 a month - BOC I [4%]
6. Google Pay after BOC - Citi Rewards [2%] up to HKD12.5k a month
7. Supermarket (ParkNShop / Watsons, Sasa, Circle K, Foodpanda) - SCB Smart Card [5%]
8. Supermarket - HSBC Red [2%]
9. Restaurant - HSBC Signature (up to 100k a year) [3.6%]
10. Everything else - SCB Simply Cash [1.5%]

Abroad / foreign currency
Apart from SCB Smart Card all other cards have a currency spread of about 2-3%.
1. BOC Chill - up to HKD3261 a month [5%] (all categories)
2. Online - HSBC Red [4%] (up to HKD12.5k a month in total)
3. Online - CCB JD [4%](up to HKD142,857 a year in total)
4. SCB Smart Card (no foreign fees) [0.56%]

er2 · 07-02-2023, 02:57 PM

That is some serious optimisation. Feels like you need to solve the knapsack problem every time before you decide what to buy online

muzzdang · 07-02-2023, 04:19 PM

My strategy

In HK / HKD
1. Online - HSBC Red [4%]
2. Alipay and online - CCB JD [4%]
3. Supermarket - Alipay linked to CCB JD [4%] / Visa Signature [3.6%]
4. Restaurant - DBS Eminent Signature Visa (up to HKD8k per month) [5%]
5. Utilities - Alipay linked to CCB JD [4%] - some bills carry a transaction cost of 2.5% but we will come out ahead as there are generally no rebates for utilities
5. Everything else - SCB Simply Cash [1.5%]
6. Tax payment - Citibank cash back - often has rebates and option to convert to instalments

Abroad / foreign currency

1. Citibank Cash back 2% (offset against the currency spread)

PKS_2000 · 07-02-2023, 06:35 PM

I am little slow to understand this, if you don't mind check my understanding and let me know if it is correct.

1. Online - HSBC Red [4%]
3. Supermarket - Alipay linked to CCB JD [4%] / Visa Signature [3.6%]
5. Utilities - Alipay linked to CCB JD [4%] - some bills carry a transaction cost of 2.5% but we will come out ahead as there are generally no rebates for utilities

does it mean if I use HSBC red for online transactions, it gives me 4% discount / rebate?
similarly, if I pay by Alipay using Visa signature in supermarket, I get 3.6% discount or rebate?

aw451 · 07-02-2023, 07:36 PM

@pin, how are you managing all of these credit cards? Presumably you have autopay enabled but do you have to log on regularly to apply these cashback offers?

pin · 07-02-2023, 09:40 PM

Originally Posted by aw451:

@pin, how are you managing all of these credit cards? Presumably you have autopay enabled but do you have to log on regularly to apply these cashback offers?

Yep autopay apart from BOC which I can't set up auto-pay.

Some cards do auto cashback. Others I set a reminder once a year to sweep up the cashbacks.

bdw · 07-02-2023, 09:52 PM

@pin I know you have a Samsung phone, and Samsung pay has a max limit of 10 debit/credit cards that can be added to the wallet. Is this the reason you have exactly 10 cards in your portfolio above and you have now maxed out your phone? . fyi Google pay has an unlimited number of cards if you want to go further might need to switch to google pay, but then you know the Octopus card only works with Samsung and not google

Grinnie Jax · 08-02-2023, 09:09 AM

What do you think of Hang Seng Enjoy card? Would it be better for grocery shops compared to HSBC Red / CCB JD linked to Alipay? I never really got the idea how to use those Yuu points.