Status symbol, or real value?

Forged in the fires of Nidavellir, the same fires that forged Thor’s StormBreaker that killed Thanos, comes the HLB Opus: a card that’s stronger, smoother, and smooth to touch, taking the card to the nth degree.

Made not from metal but from ceramic, the card makes a unique sound when placed on a surface, which is sure to draw attention and admiration from anyone who hears it.

We made up the Thor reference, but believe it or not, the rest of that marketing blurb came straight from HLB and Convego, the card’s manufacturer.

While the marketing is focused on prestige and the card’s ceramic construction, targeting high-AUM clients, in this review, we’ll take a look at whether the card’s benefits are actually useful.

Who is this card for?

The HLB Opus sits in the Visa Infinite Privilege tier, one tier above the existing Visa Infinite tier and one tier before Visa Infinite Private. Milelion did a good overview of the new Visa Infinite tiers, which you can check out here.

HLB does not publish the requirements for this card, but if it is positioned in the same segment as HSBC Premier Elite and SCB Priority Private, the AUM requirement is probably in the RM3 million range or more.

If you are rich but still care about the practicality of earning miles and elite status, the Opus is indeed a useful card. We think it is the better choice over HSBC Premier Elite and SCB Beyond Priority Private, although it still falls short of the UOB VI Metal.

Its only real shortcoming is that Enrich is the sole FFP partner.

How Does This Card Stack Up with its Peers?

Overseas Spend

With 2.5MPR for Overseas spend in selected countries, the Opus is now the highest MPR in the market.

*Selected countries only: Singapore, UK, Japan, Thailand, South Korea.

The Opus’ upsized MPR is limited to 5 selected countries: Singapore, the UK, Thailand, Japan and South Korea. If you are getting a Birkin in Paris, the rate drops to 0.33MPR since Paris is not in the 5 selected countries.

When it comes to practicality, the UOB Visa Infinite Metal is probably the better balanced pick. It does not have any country restrictions and earns 2 MPR on all overseas spend, while also offering KrisFlyer as a transfer partner.

You can also time your transfers to get Enrich’s 20% transfer bonuses. This effectively boosts the earn rate of UOB VI Metal to 2.4 MPR, bringing it very close to the HLB Opus’ 2.5 MPR.

The SCB Beyond is somewhat restricted to overseas dining and shopping. While it earns 1.42 MPR on all overseas spend, it still falls short of HLB and UOB in this category.

As for the HSBC Premier Travel card in the RM3 million AUM segment is the weakest here, earning just 1.1 MPR.

Local Spend

The HLB Opus earns 1 MPR on local dining just like the HLB VI, which is currently the best rate in the market. This is useful as it can double up as both a local dining and overseas spend card.

It still falls short of the UOB VI Metal though, which earns 1 MPR with both Enrich and KrisFlyer, while the SCB and HSBC cards are best kept for overseas spend only.

Enrich Elite Points?

Perhaps the best feature of this card: you earn 1 Enrich Elite Point for every RM10,000 spent overseas.

Although the T&Cs have yet to be published, HLB did share this in the media release, so we’ll have to see if any limits or restrictions apply.

RM10,000 per Elite Point may sound expensive, but for someone who is rich but no time, earning elite status purely through spending is very, very appealing.

It will be interesting to see if this can be combined with the Ambank Enrich Visa, since in theory, you can attain Enrich Platinum with RM980k overseas spend without flying.

The Welcome Bonus

You get 60,000 Enrich Points within 60 days of paying the RM3,000 annual fee. At our valuation of 4 CPM, those points are worth RM2,400, effectively bringing the annual fee down to around RM600.

There’s no explicit mention of whether the 60,000 Enrich Points also apply upon renewal or only in the first year, so we’ll have to wait and see.

Frequent Flyer Program Options

Perhaps the weakest part of the Opus, like the HLB VI, is having Enrich as its only FFP partner.

Affluent travellers tend to prefer SQ and other premium airlines such as CX, EK and QR, choosing MH mainly when it is practical to fly direct.

This could be a weak point in attracting high-AUM clients, so hopefully HLB will look into expanding its FFP options.

Lounge Access

Opus cardholders get unlimited access to over 600 Plaza Premium First (except Cambodia), Plaza Premium Lounge, and affiliated dining outlets worldwide. Not only that, the T&Cs do not restrict the number of accompanying guests, so in theory, you could bring your entire family into the lounge, no matter how big the party is.

Access to Plaza Premium First is always welcome, given the generally smaller crowds and more premium experience. You can read our complete guide to KLIA Terminal 1 lounges here.

The lounge selection, however, is probably better with the UOB VI Metal, which offers access to over 2,300 lounges via DragonPass.

Visa Infinite Privilege Perks

Visa Infinite Privilege comes with a standard set of perks, most notably a 12-month complimentary ALL Accor+ Explorer subscription without Stay Plus. You also get Accor Gold status, useful mainly for room upgrades, although perhaps not quite matching the status of the card’s target clientele.

Cardholders also get a complimentary one-night stay at Banyan properties and Banyan Voyager status, subject to a shared cap of 500 redemptions across Asia Pacific.

You can find the other Visa Infinite Privilege benefits here: https://my.visa.com/my_en/category/travel

Is the Annual Fee Worth It?

For truly high-AUM clients, RM3,000 is probably spare change, and whether they can fully recoup the annual fee may not really matter.

But for completeness, here’s how the annual fee stacks up, which easily justifies its price tag.

Perk	Valuation	Value
Welcome Bonus	60,000 Enrich Points. Assuming redemption value of RM0.04, value is RM2,400	RM2,400
Lounge Visit	Assuming 12 visits per year and assigning RM50 per visit. Hence RM50 x 12 = RM600	RM600
All Accor+ Explorer	Assume valuation of RM100 since there is no StayPlus voucher	RM100
Banyan	We value Banyan Voyager status and 1x night stay at RM500	RM500
Total 💼		RM3,600

Conclusion

✅ Pros	❌ Cons
High 2.5 MPR earn rate on spend in Singapore, UK, Japan, Thailand and South Korea High welcome bonus of 60,000 Enrich Points Unlimited lounge access, including for guests Ability to earn 1x Elite Qualifying Points towards elite status Access to Visa Infinite Privilege perks	Frequent flyer earning limited to Enrich only No airport limo service

The HLB Opus is probably one of the most interesting cards we have seen in the Malaysian market in a long time. We are somewhat conflicted on how to rate it, given the ceramic card marketing gimmicks, country restrictions on its higher earn rates, and Enrich being the only FFP.

That said, assuming you know how to manage the AUM requirement without compromising your investment returns, the RM3,000 annual fee is easily justifiable based on the perks you get.

Add in the high MPR and the ability to earn Elite Points through spending, there is plenty to like about this card.

For high-AUM clients, the HLB Opus is rated Boleh, provided you can get an invite.