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 Credit Card Foreign Exchange Rate

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Tsting
post May 26 2017, 02:07 PM

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Dear MilesAndMore,

Your contribution to this forum has been invaluable.
Been reading up alot on your post in the various topics.

I am applying for a hsbc premier travel card (mastercard).
Overseas spending are at 1.1 mile per 1 RM.

I spend 1/2 my time in singapore.

1) Will you recommend using this card for all uses in Singapore, to get the miles?
Seems very attractive, despite the 2.25% (1% mastercard charge, 1.25% bank currency conversion charges).

another consideration is that I need to clock RM 45k a year to get waiver (else RM 625 per year), and I doubt I can spend that much locally in Malaysia in a year.

2) Buying MAS ticket from Singapore to Europe, in SGD.
I assume that this will be considered local (malaysia) charges? without the 1.1 miles per RM1?

Thank you in advance
Tsting
post May 27 2017, 01:14 PM

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QUOTE(ProxMatoR @ May 27 2017, 12:53 AM)
will you consider Ambank World Master?

reason being:
1.  free annual fee (wins)
2.  low forex charge (only 1% admin fee) (wins)
3.  5x points for all overseas expenses (not included for online)
4.  5,000points for 1,000 airmiles (cathay, mas, singaporeair). this converts to 1RM to 1airmiles (its just losing that 0.1mile per RM)
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HSBC
Another reason for the hsbc travel MC was the 12x loungekey per year.
already have existing relationship with bank, and thus will probably be getting this card.

Hence will like to seek feedback on using that overseas (Singapore), just to fulfill the RM 45k spending, along with points.
Is it necessary a bad/dumb thing?



Ambank:
Thanks Proxmator.

Very Interesting indeed.
I was just looking at the ambank visa signature.
Visa as to complement the hsbc travel MC.

I didn't realize that the ambank wm was 1% foreign surcharge. Visa infinite alot higher
very attractive indeed.
I will probably apply for this card as well, at the very least just for the limited lounge access, and attractive foreign exchange surcharge.
Maybe both? if they will let me.
Tsting
post May 28 2017, 09:10 PM

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QUOTE(ProxMatoR @ May 28 2017, 02:11 AM)
AFAIK, ambank WM and VI both has unlimited lounge access. that is a big win over HSBC if you consider that...
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Agree ambank very attractive.
No. of countries seems a little more restricted, but very good complement to HSBC.
Thanks ProxMatoR!
Tsting
post Jun 15 2017, 01:19 PM

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QUOTE(ProxMatoR @ May 25 2017, 04:31 PM)
China DO NOT accept any other card.... only UNIONPAY. So, either you go to BOC (bank of china), or MBB to apply. And, if not mistaken, there are different UNIONPAY card, there is specific initial 4 digit card to be accepted in China.
1% is the admin fee. they will have forex rate charge too. so, it will add to 2.2 - 2.25

hope this clarifies.

Local Banks
- Maybank2C VISA/MasterCard : 2.26% (~ 1% + 1.25%)
- Maybank2C AMEX : 2.5%
- Maybank American Express with Maybank logo on top : 2.8-3%
- American Express : 2.8 -3%
- CIMB Bank : (cashback plat) 2.53% (should be ~ 1% + 1.5%)
- CIMB BANK (MC) 2%
- Public Bank : 1.25%, (VS) 1.0125%
- RHB Bank : (master plat) 1.02%
- AmBank : (VISA) 2.0 to 2.2%        (WM) 1%
- HLB VISA/MasterCard:
- EON Bank :
- Affin Bank :
- Alliance : (VISA) 2.17%
- Aeon: (gold) 1.5% (watami) 0.8-1.2%

Foreign Banks
- HSBC : (visa plat) 2.27% (should be ~ 1% + 1.25%)
- OCBC bank :
- Standard Chartered :
- UOB Bank : (YOLO) 2.5%
- Citibank : 1% + 1.4% (= 2.414%)
(if SGD, it is just 0.5%. surprising)
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Sorry I have been trying to find info on the citibank Sgd 0.5% charges.
Can someone kindly point me in the right direction?

Ty
Tsting
post Jun 19 2017, 10:17 PM

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QUOTE(ProxMatoR @ Jun 19 2017, 02:19 PM)
That was based on my transaction record. It was online AA booking in SGD (flight from SIN).
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Ah ok.
Got it.
Thank you.
Tsting
post Jul 20 2017, 10:09 PM

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Noob Question.

Did a transaction last week, on a world master card.

Using https://www.mastercard.us/en-us/consumers/g...t-currency.html

IF I set the bank fees to 1.9%, it will match the cost of item and what is shown on my statement.

Does this already include the 1% foreign exchange charge by mastercard?
So it is 1% + 0.9% bank charge?

Seems decent enough? (Not as good as ambank WMC i know)
Tsting
post Jul 21 2017, 08:16 PM

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QUOTE(neobie @ Jul 21 2017, 06:03 PM)
What bank is this ?
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Hsbc
Tsting
post Jul 21 2017, 08:20 PM

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QUOTE(pisang @ Jul 21 2017, 05:47 PM)
i think we take the
online mastercard rate+ bank charges= amount shown in statement.
in your case, the bank charges is 1.9%.

Pls correct me if i'm wrong.
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So bank charge 1.9%
Mastercard 1% (already built into the exchange rate)?
Effective 2.9%?

Like that quite high....
I'm trying to convince myself to use this card overseas.. As compared to using local card.
Weighing the value of the points this card as it gives decent miles for overseas spending.

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