OCBC launches Voyager

[CarbonMan]

Anyone with any additional insight on this.

http://www.businesstimes.com.sg/bank...%5D&xts=538380

OCBC has turned one-stop tour agency with its latest credit card offering, as it aims for 30 per cent growth in card spending this year. To hit this, it will break down an age-old system of air miles redemption for consumers who have an insatiable need to get out of the country.

The move comes amid slowing growth momentum for credit card spending in Singapore, and as banks must now be wary of non-lenders that are inching into the banking space.

OCBC on Monday launched Singapore's first air miles card for its high net worth and affluent customers, which lets card-holders redeem flights on all airlines, and at any time.

[scooby5]

Interesting......

http://www.ocbc.com/personal-banking...nite-card.html

Free limo to the airport of you spend $5000/month.
2 Visits per year to Plaza Premium Lounge
25% Discount on Meet-n-Greet Services
Annual Fee S$488 (Main Card), S$188 for Supplementary Card
1-Mile/S$1 on local spend and 2.3-Miles/S$1 overseas.

Personally, in Singapore, if a card can convert to both AsiaMiles and KF it basically covers a very high percentage of flights our of here.

Let's see if this ups competition from other cards but looking at the bullet points, the HSBC Infinite Card is still better. The ONLY thing I can see is that you earn miles even on a "redemption" ticket because OCBC are effectively buying the ticket.

[Durian]

Hi, on the mileage accrual, which is the most important for me, the UOB Amex PRVI accrue 1.6 and 2.5 miles per $ here and abroad respectively.
It's been the best card around for a couple of years, and still the case. There is no minimum spend to reach those level, unlike the HSBC Infinite for example (with a split of accrual year1 year and a minimum spend).
Only down with the PRVI is they removed quietly 2-3 months ago I think the unlimited free limo ride to the airport, now replaced by a $45 rebate on some private limo service, ... the only one to suffer will be my employer, now I will claim for taxi receipts

[sabian]

The OCBC website provided a vague illustration on how 75480 Voyage Miles can be used to redeem 2 x full service Y tickets to HKG (doesn't say SQ).

https://www.ocbc.com/personal-bankin...nite-card.html

The maximum earn rate is 2.3VM per dollar spent. Assuming all 74580VM are earned at this rate, the actual $ swiped on the card would come up to $32,426.

A pair of KF Y redemption at saver rates: 51000

If you can somehow spend $32426 on other cards and:

earn 4 miles/ $, you'd have accumulated 129704 miles.
earn 3 miles/ $, you'd have accumulated 97278 miles.
earn 2 miles/ $, you'd have accumulated 64852 miles.
earn 1.6 miles/ $ you'd have accumulated 51881.6 miles

Assuming
30% of the spend is earned at 1.6 miles (UOB Priv MasterCard)
25% at 2 miles (Overseas spend DBS Altitude VISA )
30% at 3 miles (Online air ticket/ Online hotel on DBS Altitude VISA)
15% at 4 miles (Citi Rewards/ UOB Pref VISA/ DBS Women)

The total KF miles earned would be about 80416 miles. That's 3 SIN-HKG Y with a 3916 KF miles left.

Not very compelling earn rates for the new OCBC card.

But if OCBC can guarantee you a seat of your choice on very short notice since it seems their tickets are revenue tickets rather than redemption, then that is a very compelling feature.

[Kyo]

I have no idea how much effort you spent calculating that, but good job!

[KC*]

The advert claims that you can still earn your airmiles from the ticket issued - hence, I'd guessing that the air-miles works like a "currency" for purchase of air-tickets. Hence if you choose a more expensive ticket, it'll mean more miles used. I'm guessing.

What it does not say is what is the "value" of this Voyage Mile? If 75,480 is equivalent to two return Y tickets to HK, it is not bad. But if it is 2 x 1 way, then it may not be that good.

Also, it did not say if you are still liable for additional fees - eg taxes and fuel surcharges.

Very vague.

[JWNY]

Card is made of metal. Not sure if will corrode!

The Voyage Miles work best on overseas and dining spending. Upon sign-up you receive 15,000 VM and the annual fee is SGD488

[CarbonMan]

... and the annual fee is SGD488

That alone could get you a SIN-HKG rtn tix.

[JWNY]

That alone could get you a SIN-HKG rtn tix.

*attempts to cut his card*

Scissors don't work!

[lcpteck]

That alone could get you a SIN-HKG rtn tix.

SIN-NRT/KIX for me.