News

American Express and CX launch co-branded corporate card

5 Nov 2010

American Express and Cathay Pacific (CX) have launched a co-branded corporate credit card in Hong Kong, which accumulates Asia Miles for the company as well as the carrier’s individual frequent flyers and centralises corporate expenditure.

The card – available in two tiers Classic and Elite – is available for mid- to large-sized companies, marked by an annual turnover of HK$10 million (US$1.3 million) and above. Both categories offer the company’s Asia Miles account 1 Asia Mile per HK$12 (US$1.54) spent on flight tickets with CX or Dragonair using the corporate card. This applies to bookings made via travel agents as well as those made on other travel websites.

The Classic card offers up to HK$1.5 million (US$190,000) in travel insurance. Employees of the corporation, who are individual cardmembers, also earn miles when using the corporate credit card on overseas business expenses using the same HK$12-to-1 mile conversion rate.

The Elite card is for senior executives and offers up to HK$2 million (US$258,000) in travel insurance and a more generous HK$10-to-1 mile conversion rate for other overseas business expenses charged to the card.

For both cards, miles earned on an individual level will go directly to the employee’s personal account while the miles earned when purchasing tickets for business travel goes to the company’s account therefore benefiting both the company and the individual. Individuals using several other airlines on one trip can charge those flight tickets onto their individual business expenses which provides them with extra miles.

Companies can redeem these miles either for flight tickets or for other lifestyle awards such as movie tickets or electronic gadgets. The scheme allows a maximum of five nominees for the redemption awards yet nominees can be changed without an added fee.

For the first year, there will be no annual fees and from the second year onwards, the Classic card will cost HK$440 (US$57) per year and the Elite card costs HK$590 (US$76) per year. These expenses however can be waived if users pass the minimum annual spending threshold which is HK$200,000 (US$25,000) for the Classic card and HK$400,000 (US$51,000) for the Elite card.

Furthermore, for every three cardmembers joining the scheme, the company will be awarded an extra 15,000 Asia Miles.

All expenses using the American Express Cathay Pacific Corporate card can be managed and administered online, and there is the option to enforce spending limits on an individual and company level thus enabling greater control.

This is the first co-branded corporate card in Hong Kong, following the popularity of the American Express Cathay Pacific credit card for individual consumers. In Asia-Pacific, American Express has also formed alliances with Kingfisher Airlines and Qantas Airlines, providing their frequent flyers with the same co-branded and centralised credit card.

For more information, visit www.goodforbusiness.com.hk

Alisha Haridasani

Loading comments...
Share with your friends










Submit
Be up-to-date
Magazine Subscription

To see our latest subscription offers for Business Traveller editions worldwide, click on the Subscribe & Save link below

Polls