ICBC Introduces New 1.5% Local/3.0% Overseas Rebate MasterCard

silverbomb

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That's because the ICBC Global Travel MasterCard actually works as a "Tap & Go" card for public cbus and train fares in Singapore. Per the terms and conditions, those transactions are coded beginning with "TL-ABT." Through August 31, 2017, those transactions qualify for a 10% rebate. Thereafter, since "TL-ABT *" is not on the rebate exclusion list, they'll qualify for a 1.5% rebate. All with no administrative fee.

This really is a very good card.

do note that the 10% ABT promo does not stack with the regular cashback (1.5%-3%) under the same card. taken from FAQ:

Will the “TL-ABT *” transactions enjoy cashback under the “Up to 3%
Unlimited Cashback” Promotion in addition to this 10% ABT TransitLink
Cashback?
No, this Cashback Promotion cannot be combined with other cashback promotions.
The Qualifying Transactions of this 10% ABT TransitLink Cashback Promotion will
be excluded from the calculation of cashback entitlement for the “Up to 3% Unlimited
Cashback” Promotion.
 

wealth_farmer

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Thanks for sharing this BBCW.

Barring them discontinuing the 1.5%/3% rate, or me failing to secure AF waiver after three years, and/or general dumbassery of ICBC (never dealt with them before), I can see this one card replacing SCB UL, AMEX TCB (for local use), and both CIMB World Plat MC and VISA Signature (for travelling).
 

Shinji Kagawa

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Applied thanks. :)

Application process wasnt the smoothest. Kept getting logged out. :s13:

and yes, think this will replace my AMEX TCB card.
 

BBCWatcher

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....I can see this one card replacing SCB UL, AMEX TCB (for local use), and both CIMB World Plat MC and VISA Signature (for travelling).
Yes, that's true, although you can keep the CIMB cards since they have no annual fee for life. If ICBC's card becomes less attractive in the future then you've still got those cards as backstops.
 

BBCWatcher

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I missed one of the perks this card provides. If you're approved for the standard Platinum variant of this card then it appears you're eligible to enter ICBC's airport lounges in mainland China but only when flying domestically (internal flights within China). That's not a huge benefit for most people, but it's something.

For those who qualify for the free one-time use Changi Airport lounge pass you can buy additional lounge entries for S$28 each if you want.
 
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259850

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Just settling in using the SCB Unlimited Cashback card for my general (i.e., miscellaneous) spend, and along comes this card. Dropped off the paper application form at their branch next to my office this morning. Let's see how long it takes them to send me my card.

ICBC remains the only card issuing bank in Singapore whose card I'm not holding (very few)/have held (many). Let's see what's the experience like.
 

a4973

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StanChart unlimited cashback still gives 1% rebate for EZ-Reload after deducting $0.25 admin fee and 1.5% rebate for all transactions at http://www.axs.com.sg/axsEstation.php.

This ICBC Card does not give rebates for these transactions:
http://v.icbc.com.cn/userfiles/Reso...7/GlobalTravelMasterCardCashbackPromotion.pdf

may i ask how did you get this info? StanChart unlimited cashback still gives 1% rebate for EZ-Reload after deducting $0.25 admin fee and 1.5% rebate for all transactions at http://www.axs.com.sg/axsEstation.php.

i have looked at the T & C : <https://www.sc.com/sg/terms-and-conditions/unlimited-cashback-credit-card-terms-and-conditions/>

Unlimited Cashback on Eligible Retail Transactions
Unlimited Cashback is awarded only on retail transactions which exclude those transactions listed in Clause 3 below (“Eligible Retail Transactions”) made on your Card based on the date such purchases are posted to your Card account. For the avoidance of doubt, the date the transaction is charged may not be the same as the date the transaction is posted due to factors including but not limited to processing time and differences in time zones (where applicable). For clarity, Eligible Retail Transactions charged to the Card in a month (as defined in Clause 6 below) but yet to be posted to the Card account by the Card statement date will not be taken into account in the computation of Unlimited Cashback earned for that month (as defined in Clause 6 below). Unlimited Cashback is computed on a monthly basis based on your statement date and will be calculated based on two decimal places for each individual Eligible Retail Transaction without any rounding off. Unlimited Cashback earned will be reflected in that month’s card statement but credited to your principal Card account only in the following statement cycle month. Such Unlimited Cashback amount will be automatically offset against the following statement cycle month’s billed amount. Unlimited Cashback earned by your supplementary cardholder(s) of the Card will be credited into your principal Card account.
The following transactions are not Eligible Retail Transactions and will not earn Unlimited Cashback:
any cash advance;
any fees and charges (including annual fees, late payment fees, interest charges, and or finance charges) charged to your Card;
any balance or fund transfer;
any monthly instalment of an EasyPay transaction;
any amount charged to your Card (and/or your supplementary credit card) that is subsequently cancelled, voided, refunded or reversed;
recurring payments or payments made to all billing organisations using Standard Chartered Online Banking;
AXS or ATM transactions made using the Card;
amounts which have been rolled over from the preceding months’ statements;
tax refunds credited into your Card account (and/or your supplementary credit card account);
any tax payments charged to your Card (and/or your supplementary credit card);
any insurance premiums charged to your Card (and/or your supplementary credit card); and
any top-ups or payment of funds to any prepaid cards (with the exception of EZ-Reload charged to your Card) and any prepaid accounts including without limitation to the following accounts or any other accounts as we may specify from time to time:
 
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259850

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1. I haven't found ICBC's form for automatic GIRO credit card payments, so that's a possible shortcoming if you prefer having automatic monthly credit card payments. (I do.) That said, my understanding is the banking regulations require credit card issuers to offer that service, so I doubt it's a genuine shortcoming. You'd just have to ask for the right form since it's not obviously available from their Web site.

I'm a little worried about this shortcoming as I completely rely on GIRO to settle all my credit card bills....not organized enough to keep track of due dates. I just got a call from ICBC a week after submitting the physical application at their main branch requesting for an additional document that I had inadvertently left out. The person on the line [admittedly someone from the processing department] didn't think they allowed GIRO payment.
 

silverbomb

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I'm a little worried about this shortcoming as I completely rely on GIRO to settle all my credit card bills....not organized enough to keep track of due dates. I just got a call from ICBC a week after submitting the physical application at their main branch requesting for an additional document that I had inadvertently left out. The person on the line [admittedly someone from the processing department] didn't think they allowed GIRO payment.

yes that is right. i called ICBC 2 weeks ago and confirmed, no GIRO from other banks. only GIRO from ICBC bank allowed.
 

BBCWatcher

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You might as well request the GIRO form and see what it says. Occasionally a random bank employee (or two) isn't entirely familiar with their own products.
 

259850

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Will cross the bridge when I get there. Still waiting for the card. Will probably use it only for overseas spend if bills can't be paid via GIRO.
 

259850

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So here's my experience: Dropped off the application form at the ICBC branch on 21/6 and yesterday, got a package in my mailbox. Not bad, I thought.

I excitedly opened the package and guess what? They sent me the wrong card. I got the Unionpay Koipy instead of the Mastercard. :s11::s11::s11::s11: I'm 100% sure I ticked the Mastercard in my application form.

Anyway, that's it. I'm going to call to cancel the card when I have the time. Not going to deal with ICBC again until their processes improve.
 

Shinji Kagawa

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Just got the card today. Found out they only take uob,hsbc and dbs for payment of bills through ibanking.
 

wealth_farmer

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Applied via mail on 19 June, got a call from them on 03 July to verify some details and boom, got my card today, so took about a month. Came with a "Rewards Lounge" access card (good for one visit to SATS, Ambassador or Plaza Premium lounges in Changi Airport, can top up credits for further visits if you want) so guess I was one of the first 1,000 to get this card.

Card itself looks rather tacky in real life. But this card is so new, it's using the new MasterCard logo that I'm not familiar with; just overlapping red and yellow circles and the word "mastercard" below this logo, unlike other Mastercards I have. It even made me think if this is a China chiong card for a minute :s13: until I went to google it to confirm. Time to retire my Stanchart Unlimited, CIMB VISA Signature and CIMB Platinum Mastercard.
 

Trazora

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I asked which bank I could pay their cc bill with and he told me those 3.

im quite new to Credit Card scene though, so i might have understood wrongly.

You can also use masters debit card from any bank to pay the CC bill on AXS app or online
 

babyrobo

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A side qns.. Visa debit card use to pay what to clock up min. spending?
 
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