What Is Prestige Card – Reasons & Benefits Explained

Prestige Card is one of the premium credit cards offered by Citibank, for their elite customers, who are above 18 years old with an annual income of HK $ 600,000+. With the recovery of the economy, financial institutions and travel providers have slowly been stepping into the game to encourage the high spenders. On the surface, the Prestige card annual fees of HK $2,500 may make the customers think that it is not their cup of tea, but the value and lifestyle obtained through this card are worth more than its annual fee.

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Reasons to buy Citi Prestige Card

Sign Up Bonus

Introductory offer of 15,000 Miles, which is worth 180,000 Citi points, is definitely a very generous bonus. These Miles can be redeemed to avail plenty of services.

Tax Refund

Unlike any other credit card in the market, Hong Kong Prestige Card holders get an additional 10% reduction in tax refund amount and one-year free courier service to deliver the tax refund documents from home/office. This offer is valid up to June 30, 2017.

HABITŪ

Prestige Card holders enjoy a buy one get one offer on the Handcrafted beverage at HABITŪ. This offer can be availed from HABITŪ caffè, HABITŪ all day or HABITŪ table until June 30, 2017.

MasterCard Wine Privilege

By spending at the Hong Kong restaurants like Wagyu, FINDS, MOOFISH, Sing Woo Rd Bar & Grill, High Street Grill and much more through MasterCard, a complementary bottle of top quality wine is offered.

Benefits of Prestige Card:

Unique Relationship Bonus – to appreciate the loyal customers and their transaction in Citibank Hong Kong, it offers relationship bonus. Prestige Card holders get an additional 30% points, and here, the 200 points earned can be redeemed for HK$1.

Fourth Night – For booking 4 consecutive nights with Citi Prestige Card, one more night is a complementary offer. This Concierge service can be used an unlimited number of times.

Earn Points – For every HK$1 spent within the country and overseas, get 2 points and 3 points, respectively. As these points never expire, redeem it when you really need.

Exclusive Mileage – For every HK$ 6 spent in the local and HK$ 4 spent overseas earn one Citi Mile. With the preferential mileage rate, every 12 points get one Citi Mile.

Concierge Services – Personalized Concierge services are available for 24/7 hours a day and access travel needs like ticket booking, dining reservations in the world’s opulent restaurants, car rental, travel protection, etc.; customized reminders; sourcing amazing gifts;  dry cleaning services; entertainment; spa treatments; and a lot more.

Global Events – Citi Prestige Card holders can access prestigious global events. Starting from sports tournaments to fashion shows to night shows to plenty of exclusive events around the world, the card holders can easily purchase tickets.

Golf Benefits – Complimentary green fees in the well-established golf clubs like Mission Hills, Dongguan Hillview, Sentosa, Raffles Country, Sambawang Country, Horizon Hills, Tropicana Golf and Country Resort, Ria Bintan, Klub Golf Sukajadi, etc, can be accessed with a Citi Prestige card.

Thank You Gift – Earn 240,000 Points as a gift from the second year and it is sufficient for a round-trip air ticket to Thailand.

Apart from the above said exclusive benefits, the card holders can also enjoy year-round offers.

Best Travel Insurance Policy from Hong Kong

Traveling is definitely exciting, vibrant and exhilarating to everyone in the world, while travel insurance seems to be an unnecessary expense. Very often it is not because of the risks involved in traveling, especially the overseas traveling. You need to be safe when you are away from the homeland. Unless you carry a travel insurance policy with you, getting help while traveling is not easy.  Best Travel In surance Policy Hong Kongtravel-insurance-policy-hongkong

Travel insurance policy helps to cover a range of helpless circumstances like:

  • Flight cancellation
  • Delayed flight
  • Lost luggage
  • Delayed luggage
  • Medical emergencies
  • Passport or wallet theft
  • Political unrest in the travel destination
  • Natural calamity at the destination
  • Acts of Terrorism causing unrest
  • And a lot more

With travel insurance on hand, you can easily manage the bitter experiences. The insurance company reimburses the amount that you lost during your travel. It rescues you from different unpleasant environments, which are not a just monetary loss, but even medical emergencies. Indeed, it can be a life-saving tool during your trip.

Compare Travel Insurance In Hong Kong

Apart from the legitimacy of the insurance companies, consider the following factors while comparing travel insurance in Hong Kong

Cheap

Many online websites help to compare the cost of individual insurance, family insurance and annual insurance package for frequent travelers. Citibank Hong Kong now offers 30% to 40% of discounts for their single, family and annual travel insurance products.

Coverage

Every travel insurance package includes different coverage like medical expenses, travel delay, personal accident cover, lost documents, personal liability, emergency medical evacuation, cancellation of the trip, etc.,. Citibank has incorporated additional protection for mobile, driving, sports activities and cruise holidays.

Where and How to Buy Travel Insurance In Hong Kong?

Insurance companies – You can directly buy the travel insurance policies offered directly by the insurance companies. These policies include better risk coverage. Read out the ratings and reviews of the companies, along with the travel insurance details to compare and decide. The approval process is long and takes more time.

Banks – Another option to buy travel insurance is through the banks. The versatile banks like Citibank Hong Kong include travel insurance in their product list. Policies introduced by the banks come out with plenty of discounts, rewards, and deals. Banks also partner with large insurance firms like AXA and Zurich to ensure valid service. Further, these banks are industrious that they often issue their travel insurance products through their official websites and avoid brokerage paid to the insurance brokers. Within a few seconds, you can get quotes from the bank and instantly get approved. Even if your travel has been scheduled this week, it is easier to get online travel insurance immediately through the online services.

Insurance Brokers – Insurance broker community is pretty big in Hong Kong, yet most of them do not focus on travel insurance. Therefore, it is ideal to skip an agent’s service, regarding travel insurance. Further, the brokerage may eat up the policy cost.

How To Save Money On Credit Cards?

The savvy credit card users know the nitty-gritty things regarding how to save money on credit cards. Wise and optimal usage of credit cards is an art. Inserting 10 types of credit cards in the wallet goes in vain if you are not aware of the nuts and bolts of smartly using it. With financial inclusion being the talk all around the world, it is ideal to hinge on the plastic cards than to stick with the hot cash.

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8 Smart Ways To Use Your Credit Card

  1. Credit card debts

Very often, people buy new credit cards to consolidate the old credit card debts. This strategy works like magic if the transfer of credit takes place at 0% fee, but many banks charge around 3% for consolidating credit card debts. Further, the new credit card should offer lower APR than the older cards for better savings.

  1. Reward cards

Reward cards are magnetizing, and they allure a greater number of people. The rewards are quite inspiring, but the fact is you have to clear the credit card balance on time to eligible for the rewards. If you cannot commit to this criterion, go for cards with lower interest than the high-interest reward cards.

  1. Punctuality

Punctual payment habits will help you stay away from exorbitant penalty fees and charges. To save money on credit cards, it is ideal to pay a little more than the exact credit amount. The additional money can earn you a small interest over a period, and some credit card companies reward their customers for such practices.

  1. Right choice of card

Do not turn on all the cards rather pick the one that blends with your shopping habits. For example, Citibank Hong Kong offers Prestige Card, Premiermiles Card, Cash Back American Express Card, Rewards Card, Clear Card, Octopus Credit Card and Diners Club Card. Veteran credit card users wisely choose their cards. If you do not use public transport in Hong Kong, do not apply for Octopus Credit card. Frequently dining customers can benefit from Diners Club Card and not the others. The online shoppers can hold Clear Card; while the regular overseas travelers can fix with PremierMiles Card.

  1. Avoid Emergency usage

Improvident people, who are without emergency funds, may rely on their credit cards to manage such scenarios. Although it may seem smart to handle the financial crisis, in the long run, it can turn you to be reckless in savings. Therefore, do not respond to such temptations.

  1. Hold a spare card

With a reward card in your pocket, you may be compelled to overspend. To avoid emotional shopping and spending, carry another credit card with the cheapest interest rate. This will save a lot of money on your credit card.

  1. Ask for leverage

For maintaining your stance as a good cardholder, you deserve some leverage. With your good will, request for a lower rate of interest or extended credit limit. The credit card companies listen and work for their genuine customers.

Smart Ways To Use your Credit Card

Credit cards have brought a wave of technological amelioration in the financial sector. Especially in Hong Kong, consumers prefer master cards for more than just convenience. Credit card offers like Merchant promos and Mileage points offer immense benefits to them.

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How To Get The Most Out Of Your Credit Cards?

Here are a few tips and tricks to help you get the most out of your credit cards.

  • Select an appropriate card

Choose the Visa card that earns you maximum mileage points and other benefits in the category of your preference. For instance, if you are a traveler, buy the one that fetches you maximum points on airfare and hotels.

  • Avoid Piling up of Credit Card Balances

The interest rates hurt if you let your credit card balances slide up month after month. Hence, it is always wise to use the scales as to and when necessary.

  • Always spend within your limit

The size of your credit card limit affects your other expenses on cards and loans. Too little an amount will create trouble in case of big spending like International flights, while an ever-expansive credit limit will lead you to useless expenditures.

  • Optimize your Reward Points spending

Don’t squander your reward points on low-value stuff. Make the most of your additional benefits like concierge, travel insurance, etc.

Are you now ready to spend flexibly using your credit card without having to worry about cash?

Why Travel Insurance Is Necessary

Why Travel Insurance Is Necessary – Predicting everything during a journey is quite impossible these days, due to a range of risks, starting from health issues to unexpected weather condition to terrorism. Despite the mounting risks, the exploring spirit of the travelers has not dropped rather they are all set to take the travel insurance as a necessary item than as a rare add-on, to safeguard themselves from various risks.

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Why Travel Insurance Is Necessary?

Travel insurance benefits are listed below:

  • Landing and exploring an unknown location is exciting, especially because it is absolutely new to us. Such trip may turn scary if you are injured or diseased. With travel insurance, you can avail 24 hours assistance for medical requirements.
  • Apart from the medical issues, a travel insurance reimburses for the lost luggage, flight delay, loss of a wallet or the identity cards like Passport and Visa.
  • Travel insurance reimburses even the non-refundable expenses like trip cancellation due to illness, natural disaster, military orders, labor strikes, if your travel agent goes bankrupt, etc.,.
  • Death or impairments in the parts of the body due to an accident are reimbursed through travel insurance policies.
  • Beyond the tangible benefits, the insurers get confidence and complete peace of mind while exploring the world.

Similar to the regular life insurance, house insurance, health insurance and car insurance, a travel insurance policy has to be acquired before starting the trip. The internet facilities have allowed people to take up instant travel insurance online. The Citibank Hong Kong offers a range of the journey insurance types, through online.

Which Banks Issue Octopus Cards In Hong Kong?

Today, more than twenty-three million Octopus cards have been issued, crossing twelve million transactions worth HK$ 130 million per day.

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Benefits of Octopus Cards:

  • Alike the New York’s MetroCard and London’s Oyster card, Octopus serves as a smart card to travel via the Hong Kong public transportation. It is much cheaper than the single tickets issued by the public transport department.
  • Apart from journey fares, it can be sued to pay in retail stores, fast food outlets, leisure facilities and car parking areas.
  • Passengers moving to and fro the airport enjoy an exciting 50% rebate on their same day return journey
  • Airport Express passengers get a complimentary return trip, on the same day
  • AE passengers further enjoy complimentary MTR connections to and fro the AE stations.
  • Some car rentals also accept the Octopus cards in Hong Kong.

Which Banks Issue Octopus Cards In Hong Kong?

To enjoy a cheap and easy local travel, the Octopus cards are issued through the reliable banks like Citibank for auto recharge. Citibank Octopus automatic add value service includes the benefits of a Citi credit card as well as an Octopus card. Further, the customers can choose from Citi Octopus Currency Platinum credit card and Citi Octopus Gold card. Citibank offers 3 different options as a Welcome offer, including Dyson V6 Baby + Child Handheld Vacuum Cleaner or cash coupon or tickets for BFB Champions, for the eligible candidates. Every HK$200 spent through Citi Octopus card earns you HK$1 Octopus cash.

What Credit Card Provides The Best Rewards For Businesses?

We know that many small business credit cards provide us with rewards and benefits for our business. But, which one is the proper fit for your business? Here’s a list to answer your question:

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Top 5 Best Business Credit Cards

Citi Prestige Card – With a huge number of benefits like complimentary nights at hotels, airport lounge access, unlimited points that do not expire, preferential mileage earnings, cash rebates, and extra annual relationship points etc., this card is one of the best options for benefits in Hong Kong.

Citi Rewards Card – This credit card also makes it to the list of most beneficial cards for businesses in Hong Kong with its rewards such as first-year annual fee waiver, airport lounge access, and special offers for birthday months, points that never expire and redemption of cash coupons in, the form of movie tickets etc.

Ink Business Cash Credit Card – With an annual fee of 0$, this credit card is the best one if you are viewing for cash back rewards.

The Enhanced Business Platinum Card from American Express OPEN – With an annual fee of 450$, this credit card is the best for rewards like airport lounge access.

Capital One Spark Miles for Business – With an annual fee of $0 for the first year and $59 for the rest, this credit card beats all the others when it comes to gaining travel credit. It’s time to choose the one that suits your unique business needs.