Mox Credit Card Introduces Best-in-town Offer - Instant Asia Miles Rewards with 0% FX Fees on All Spends
Mox Credit Card is the only card in Hong Kong to offer 1 Asia Mile for every HKD4 spent on any purchase, with no cap on rewards and 0% FX fees
Hong Kong, 4 November 2024 – Mox Bank Limited (“Mox”) announced a best-in-town¹ offer with mile-earning feature on its credit card. From today onwards, under the theme of “4100”, for every HKD4 spent with Mox Credit Card, customers can instantly² earn 1 Asia Mile, regardless of the spending category. In addition, Mox Credit Card customers will enjoy 0% FX fees³ on any spending transactions made overseas or online, with zero (“0”) cap on the Asia Miles rewards. Mox Credit Card is the only mile-earning credit card in town with 0% FX fees.
The latest enhancement allows customers to earn more miles directly and instantly when they spend, without going through any point conversion process. Customers can enjoy the HKD4 spending for 1 Asia Mile with their eligible balance⁴ maintained. With the latest reward scheme, customers can, for example, redeem a round-trip Economy class ticket to Japan worth 25,000 Asia Miles for every HKD100,000 spent with Mox Credit Card⁵.
This travel-centric reward is only made possible with the shared vision of Mox, Cathay and Mastercard, and to enhance customer experience by integrating everyday spending, rewards, and travel propositions. It follows the successful innovations Mox has made with Cathay and Mastercard, such as rewarding customers with upfront Asia Miles on time deposits and issuing Asia's first all-in-one numberless bank card.
Alongside the “4100” scheme, Mox Credit Card now also empowers customers to seamlessly switch⁶ between Asia Miles and CashBack rewards on every transaction in just a few taps. This makes Mox Credit Card the only credit card in Hong Kong that allows customers to enjoy multiple instant rewards on a single card.
Barbaros Uygun, CEO of Mox, said: "Mox aspires to elevate everyday banking experience for customers. With the addition of a best-in-town combination of unlimited Asia Miles as rewards and 0% FX fees on Mox Credit Card, customers can travel more and spend without worrying about FX fees. Our latest innovation allows customers to switch to their preferred rewards between Asia Miles and CashBack any time and enjoy the rewards instantly upon settled transaction. It also strengthens Mox’s growth momentum as the bank is more ready than ever to expand its collaboration ecosystem through more strategic partnerships across industries.”
Mox Credit Card Enables Travel Spending Boom
The addition of the Asia Miles as spending rewards aligns with Hong Kong’s travel boom, which saw 50 million departures in the first half of 2024 alone⁷. The soaring number in overseas travel triggered a surge in the usage of Mox Card to over 100 million transactions to date.
“Partnering with Mox empowers Cathay to connect with a new generation of digital-savvy travellers. By making Asia Miles available as rewards through Mox’s innovative banking experience, we're making travel experiences more attainable than ever,” remarked Flora Hui, Global Head of Banking and Payment Partnerships, Cathay.
“Mastercard's long-term partnership with Mox continues to uncover cardholders' needs and provide them with elevated offers and privileges. This collaboration underlines Mastercard's commitment to innovation and supporting digital banking with safe, fast and secure payment solutions. The new offering empowers customers to earn not only CashBack rewards but also miles with every purchase, transforming their everyday transactions into extraordinary journeys. Mastercard looks forward to underlining its value through strategic partnerships in the ecosystem, such as this collaboration with Mox and Cathay,” said Helena Chan, Managing Director, Hong Kong and Macau, Mastercard.
Exclusive Lucky Draw to Award Eight Million Asia Miles
To celebrate the launch of Asia Miles as rewards, Mox is launching the “Millionaire Asia Miles Lucky Draw Promotion” to give away one million Asia Miles to one winner every week from 4 November to 29 December 2024. Customers who spend HKD500 or more with Mox Credit Card during this period and choose Asia Miles as their rewards will be eligible for one draw. The more a customer spends, the more chances to win. A total of eight winners will each take home 1 million Asia Miles!
To borrow or not to borrow? Borrow only if you can repay!
Millionaire Asia Miles Lucky Draw Promotion Terms and Conditions apply. If the date of the notification and/or announcement falls on a Hong Kong public holiday, the notification and/or announcement will be sent on the next working day.
The Mox Credit Schedule, the Rewards for Cards Schedule and the Mox Credit Key Facts Statement apply (each of which can be found in the Mox app and/or on our website).
¹Mox Credit Card delivers best-in-town rewards offer of its kind as it is the only credit card in Hong Kong that provides the combination of HKD4 spending for 1 Asia Miles for all spending categories, 0% foreign exchange fee, and no cap for these offers. Compared against 5 mileage-focused credit cards in Hong Kong as published on official websites as of 18 October 2024. Promotional rates are not included in the comparison. Please refer to clause 2 of Rewards for Cards Schedule regarding Eligible Transactions for Mox Card Rewards.
²Asia Miles Limited will deliver the rewarded Asia Miles to customer’s Cathay Membership Account once the relevant eligible transaction is settled.
³FX Fees refer to the Foreign Exchange Handling Fee and the Cross-Border Access Fee. 0% Foreign Currencies and Overseas Merchant Spending Fees Promotion Terms and Conditions apply.
⁴“Eligible Balance” means the ‘available cash balance’, any ‘cash on hold’ and any ‘cash on hold for fund(s)’ in a customer’s savings accounts with Mox, not lesser than HKD250,000. For the avoidance of doubt, any ‘cash on hold from unsettled cash’ in your Mox Invest Account or balances in your Time Deposit Account(s) will not constitute ‘Eligible Balance’.
⁵Based on the Standard Flight Awards of Asia Miles as of 1 October 2023.
⁶Applicable to customers with a HKD250,000 eligible balance in their Mox account. A fee of HKD50 will be charged per switch if card holder does not meet the aforesaid balance. Please refer to here.
⁷According to ITE – 2024 Hong Kong Outbound Report prepared on 21 August 2024.