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hclee01 12-10-2011 09:49 PM

HSBC Visa Infinite card
 
TODAY paper

SINGAPORE - HSBC is the latest bank here to jump on the bandwagon of courting high-end credit card holders with the launch of its HSBC Visa Infinite card yesterday.

The by-invitation-only credit card is targeted at the high net worth and mass affluent individuals who travel frequently and have a minimum annual income of S$250,000, said HSBC.

Noting a recent HSBC study which shows that 40 per cent of affluent Singapore consumers make at least 10 trips a year for business and leisure, HSBC head of Cards and Consumer assets, Mr Harmander Mahal, said there is a growing sophistication of well-heeled customers "who expect travel privileges that go beyond the ordinary".

Cardholders can enjoy privileges such as concierge services provided by a "Travel and Lifestyle Butler", which includes making travel bookings and reservations at Michelin-starred restaurants.

The HSBC Visa Infinite, which is making its global debut in Singapore, comes on the heels of other banks launching or revamping their premium credit card programmes in recent months.

DBS pushed out its Insignia Visa Infinite Card in March with a starting credit limit of S$1 million, while Citibank launched its revamped ULTIMA Card in October last year, boosting dedicated lifestyle managers for each cardholder.

hclee01 12-10-2011 09:52 PM

Business Times

HSBC is going all out to woo the rich who travel frequently, by offering perks from limousine rides to faster immigration clearance with its new HSBC Visa Infinite credit card.

The credit card debuted in Singapore yesterday, and only invited clients with an annual income of at least $250,000 qualify for it. There is a programme fee of $488 for the main card while the supplementary card is free.

A study which HSBC commissioned recently showed that 40 per cent of affluent consumers in Singapore make at least 10 trips a year for business and leisure.

And the pool of wealthy clients itself is growing. According to the latest World Wealth Report by Merrill Lynch Global Wealth Management and Capgemini, the number of people in Singapore with investible assets of at least US$1 million increased by 21.3 per cent last year.

There is growing sophistication among affluent customers and they expect travel privileges which are relevant and also 'go beyond the ordinary', said HSBC head of cards and consumer assets Harmander Mahal. 'There is currently a void in the market that does not fully address the needs of these customers.'

Benefits for cardholders include complimentary one-way limousine rides to airports and unlimited access to JetQuay, a luxury terminal at Changi Airport providing personalised services. Cardholders can also get expedited immigration clearance across 40 airports if they call HSBC's travel and lifestyle butler in advance.

In times of emergency, International SOS Singapore will help cardholders arrange services such as emergency medical evacuations. The credit card also provides worldwide travel accident insurance coverage of up to US$2 million.

limster 14-10-2011 08:39 AM

Quote:

Originally Posted by hclee01 (Post 60376310)
TODAY paper
.

The by-invitation-only credit card is targeted at the high net worth and mass affluent individuals who travel frequently and have a minimum annual income of S$250,000, said HSBC.

DBS pushed out its Insignia Visa Infinite Card in March with a starting credit limit of S$1 million, while Citibank launched its revamped ULTIMA Card in October last year, boosting dedicated lifestyle managers for each cardholder.

Last time Visa Platinum required $250k income. Now only require $30k.

In a few years time, Visa Infinite probably require only $30k like Visa Plat, haha.

Given Gold Prices, I think they will next relaunch Visa Gold as the most prestigious credit card.....

fuhyong 16-10-2011 03:04 PM

I wonder how to get "up to 2.5miles per SGD$1". That's better than the maybank horizon that I am using to chalk up miles.

Anyone knows any details on how the above works?

Maybe can give it a try. And fast immigration, lounge, limousine. quite good deal hor?

materick 16-10-2011 10:19 PM

let's hope they really keep it to "invite only".

otherwise too many visa infinite card holders out there...

cybercom8 17-10-2011 12:38 AM

some banks don't need minimum income for visa infinite :o

tycosiao 17-10-2011 03:07 AM

Well,

This could potentially by the best card for frequent travellers.

d5dude 17-10-2011 03:36 PM

Quote:

Originally Posted by cybercom8 (Post 60500536)
some banks don't need minimum income for visa infinite :o

Yea some banks will invite you if you have a certain amount of net worth with them. This doesn't change the fact that this card is still invite only though.

epigram 17-10-2011 10:14 PM

invite came in the post today.
an annual fee of $248 is payable. choose gift of 30,000 miles (in equivalent HSBC rewards points) or a sony tablet.
main feature is jetquay, priority pass, fasttrack immigration, limo transfer to airport and $1 - 2 miles (1st year); $1 - 2.5 miles (2nd year onwards)
doesn't seem very compelling

Awesom Andy 17-10-2011 10:25 PM

I don't understand why they give out privileges when the card users most likely won't need/use them. Most frequent travelers would have status with their airline program, usable across the airline alliance and partners, which already gives lounge access and fasttrack immigration at some airports (and something that's not needed at the highly efficient Changi Airport).

cybercom8 18-10-2011 01:21 AM

Quote:

Originally Posted by epigram (Post 60524838)
invite came in the post today.
an annual fee of $248 is payable. choose gift of 30,000 miles (in equivalent HSBC rewards points) or a sony tablet.
main feature is jetquay, priority pass, fasttrack immigration, limo transfer to airport and $1 - 2 miles (1st year); $1 - 2.5 miles (2nd year onwards)
doesn't seem very compelling

congrats...can share what is the discount like for salt and grill? :o

GenuineSeller 18-10-2011 02:49 PM

[QUOTE=fuhyong;60482792]I wonder how to get "up to 2.5miles per SGD$1". That's better than the maybank horizon that I am using to chalk up miles.
QUOTE]

side track a little.... Maybank Horizon...the charges must be in foreign currency. The bank is promoting "local" currency meaning outlets/hotels will try to charge to your card in S$. I knew it the hard way... spent >$6K overseas, I didnt get the 30Kpoints because without knowing that S$ has been charged automatically!!

Overall bad experience with Maybank. will stop using it...

GenuineSeller 18-10-2011 02:55 PM

Quote:

Originally Posted by Awesom Andy (Post 60525227)
I don't understand why they give out privileges when the card users most likely won't need/use them. Most frequent travelers would have status with their airline program, usable across the airline alliance and partners, which already gives lounge access and fasttrack immigration at some airports (and something that's not needed at the highly efficient Changi Airport).

Potential customers for them may not be those travelling for work, frequently. These high net worth people will travel for leisure... they may not have the necessary mileage clocked.

swatchie 19-10-2011 04:35 PM

Just got a call from HSBC. Annual fee payable is $488 but you get the tablet or 30k miles. Your supp card(s) gets a priority pass as well. Min income required is 120k.

limpoop 19-10-2011 05:14 PM

Quote:

Originally Posted by swatchie (Post 60573848)
Just got a call from HSBC. Annual fee payable is $488 but you get the tablet or 30k miles. Your supp card(s) gets a priority pass as well. Min income required is 120k.

Min income not $250k?


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