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

furryballs

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I got this card recently. Now in perth using it song song gao freementle with 3% rebate. 1 week holiday i only bring A$200 cash.

Next month going london will use this card also. Not much conditions to fulfill damn songs...
 

sgdividends

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I got this card recently. Now in perth using it song song gao freementle with 3% rebate. 1 week holiday i only bring A$200 cash.

Next month going london will use this card also. Not much conditions to fulfill damn songs...
BBC calculated it's 0.5% net cash back..still best in the market
 

cynic_

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Applied for this card last month, just got it this week. Still managed to get the lounge access, guess the awareness for this card really is quite low. Promotion so long and still haven't hit 1,000 applications?
 

Sausage

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so for this card you don't need a savings account? But must you have a current account with them?
 

Sausage

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i thought that was strange because i thought for cards you'll need a bank account to pay off the credit card bill. So i guess you will pay through an ATM?
 

Trazora

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i thought that was strange because i thought for cards you'll need a bank account to pay off the credit card bill. So i guess you will pay through an ATM?

Can pay via AXS online/app/machine or pay via other bank's internet banking or pay via GIRO from other bank.
 
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BBCWatcher

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Or you can pay your credit card bill via automatic monthly GIRO, or via old fashioned paper check sent via postal mail or dropped off (together with your payment stub) at an ICBC Singapore branch.

I'm a little surprised you think a credit card bill is any different in this respect than, say, your electric bill. It's just another bill, and you can pay it, assuming you have the funds.
 

BlackCube

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I applied couple of days ago. Today got people call me to verify some info. Will I still need to wait for one month for the card to come?
 

Jupiter2017

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I applied couple of days ago. Today got people call me to verify some info. Will I still need to wait for one month for the card to come?
Previously I applied on-line, bank called me after a few days to verify some info, and I received card in the 3rd week from the date applied. Went down to a bank branch and apply internet banking over the counter and got pin/token on the spot.
 

BlackCube

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Previously I applied on-line, bank called me after a few days to verify some info, and I received card in the 3rd week from the date applied. Went down to a bank branch and apply internet banking over the counter and got pin/token on the spot.

Thanks for the info. Like that still need couple of weeks then.
 

sgdividends

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Hi BBCwatcher or others who can help,

On mastercard page
https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

It states that " Your bank may or may not use Mastercard foreign exchange rates to bill you"....

For ICBC, how to know if they are using mastercard rates or banks rate?

based on 24 Oct 11.40am, the net cash back is 0.361% based on mastercard rates when transacting in USD
 
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Trazora

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Hi BBCwatcher or others who can help,

On mastercard page
https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

It states that " Your bank may or may not use Mastercard foreign exchange rates to bill you"....

For ICBC, how to know if they are using mastercard rates or banks rate?

based on 24 Oct 11.40am, the net cash back is 0.361% based on mastercard rates when transacting in USD

Should be mastercard rate, and in addition incur forex fees eg 2.5% for ICBC. How you derive the 0.361%?
 

sgdividends

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Should be mastercard rate, and in addition incur forex fees eg 2.5% for ICBC. How you derive the 0.361%?

Assumed I purchased 1000 USD goods and bank charges 2.5% by ICBC. Key into the MasterCard link I wrote.

sgd will be generated by the MasterCard calculator . I discount by 3% since it's the cashback rate

Compare with money changer conversion.

Net 0.361%.
 

sgdividends

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Assumed I purchased 1000 USD goods and bank charges 2.5% by ICBC. Key into the MasterCard link I wrote.

sgd will be generated by the MasterCard calculator . I discount by 3% since it's the cashback rate

Compare with money changer conversion.

Net 0.361%.

For YEN purchases , by doing same way, seems like net cashback is about 0.7%.
 

sgdividends

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Should be mastercard rate, and in addition incur forex fees eg 2.5% for ICBC. How you derive the 0.361%?

Trazora, just wondering .

Why des MasterCard say it depends on whether the bank use their rate or banks rate then under the disclaimer under the page of the link ?

Like how to be sure?
 
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