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Monday, May 16, 2011

Malaysia Top Ten Credit Cards - Ultimate Showdown 2011


Well, we have Top Ten for songs, cameras, notebooks and cars. So why not for credit cards? There are so many credit cards in the market, and many card holders are blur and not maximizing the returns they can get with the right card. 

Credit Cards with FREE Annual Fees was the main criteria I adopted when I wrote my article titled Malaysia Best Credit Card - Is There Really One? 

For this article, Top 10 best credit cards in Malaysia, the FREE For Life criteria is not the main consideration but more on the returns, benefits and prestige that comes with the card. In the evaluation of my Top Ten Best Credit Cards in Malaysia, a STAR is awarded to that particular criteria if the benefit is above average. And in some cases it can be more than a single STAR. The criteria use shall be as below: 

Reward Points and Cash Back (standard for the industry is return of equivalent to 0.5% cash back).
Reward Points or Cash Back For Petrol (most credit cards do not reward you for petrol).
Customer Service  (this is subjective and shall be based on my experience with the relevant bank).
Free Airport Lounge Access (this is a privilege and is not standard).
Automatic Free Annual Fee Waiver (this is a must nowadays).
Travel Insurance (some cards have terminated this benefit).
Others (exclusive privileges offered by the card).

So here are my choices and ranking for the Top 10 Best Credit Card in Malaysia 2011, and the cards are as follows:

No. 10 - CITIBANK PLATINUM VISA CASH BACK

Citibank Platinum Visa Cash Back is a pure cash back credit card. This card rewards you with 5% cash back for Petrol but capped at RM30/month. It offers 2% cash back for transactions at Guardian, Watson, Giant, TESCO, Carrefour and for phone bills. The con of this card is that it only earns you 0.3% cash back for general transactions.

Reward Points and Cash Back - 1 STAR.  
Reward Points or Cash Back For Petrol - 2 STARS (since it give 5% cash back for ALL petrol stations). 
Customer Service  - 1 STAR ( from my personal experience with Citibank). 
Free Airport Lounge Access - NONE 
Automatic Free Annual Fee Waiver - NONE (got to request).
Travel Insurance - NONE 
Others - 1 STAR (for retail purchases covered against theft and accidental damage up to 30 days).

TOTAL STARS = 5 STARS 



No.7 - MAYBANKARD 2 GOLD CARDS. American Express with Visa or MasterCard (Tie with Alliance Platinum and UOB Preferred Platinum) 

The Maybankard 2 Gold American Express card is one of the best entry level credit card in my honest opinion. It earns you 5% cash back on weekends for ALL types of transactions including petrol on top of unlimited 5X Treats Points every single day of the year anywhere on earth. The card is free for life without a single condition. 

Reward Points and Cash Back - 2 STARS (because it earns you unlimited 5X Treats Points anywhere on earth anytime and 5% Cash Back on weekends capped at RM50/month). 
Reward Points or Cash Back For Petrol - 1 STAR ( not ALL petrol stations accept AMEX).  
Customer Service  - 1 STAR (for AMEX Toll Free at 1800-88-9559, not Maybank Customer Service)    
Free Airport Lounge Access - NONE
Automatic Free Annual Fee Waiver - 2 STARS, FREE FOR LIFE without conditions.
Travel Insurance - NONE
Others - NONE

TOTAL STARS = 6 STARS 



No. 7 - ALLIANCE BANK PLATNIUM VISA and MASTERCARD. (Tie with UOB Preferred Platinum and Maybankard 2 Gold Cards)

The Alliance Platinum Credit Card is a pretty good card if you spend around RM4K to RM5K per month. Besides rewarding you with evergreen reward points for you transactions (except petrol), it does gives you cash back based on tiers and the cash back is applicable for pumping petrol. The maximum cash back is capped at about RM68 per month for spending up to RM5,000. After RM5,000, you will still earn points. This card also rewards you with 2X points for overseas transactions.

The only thing I dislike about Alliance Bank is their Customer Service. They never call me back on my queries and only do so after I make a complain via email. Furthermore, if you call them at 11pm at night, the representative know next to nuts. If Alliance Bank can provide true 24 hours customer service, I would have ranked it higher. 

The Alliance Platinum credit card allows you free unlimited entry into KLIA Plaza Premium Lounge and the annual fee is waived if you spend RM5,000 with it annually or just swipe 12 times with it. Another benefit of this card is that it comes with free purchase protection plan against loss or damage. 

Reward Points and Cash Back - 1 STAR (cash back capped at RM68+/month in addition to evergreen reward point).  
Reward Points or Cash Back For Petrol - 1 STAR (since it give cash back but based on Tiers). 
Customer Service  - NONE ( below average, no 24 hours service as claim by Alliance Bank).  
Free Airport Lounge Access - 2 STARS (for UNLIMITED free entry to KLIA Plaza Premium Lounge).
Automatic Free Annual Fee Waiver - 1 STAR
Travel Insurance - NONE (not stated in their website) 
Others - 1 STAR (for purchase protection plan). 

TOTAL STARS = 6 STARS 


No.7 - UOB PREFERRED PLATINUM VISA and MASTERCARD. (Tie with Alliance Platinum amd Maybankard 2 Gold Cards)

Many are not aware that all UOB credit cards do enjoy some form of cash back at selected merchants with their SMART$ Cash program in additional to the standard points rewarded for each Ringgit spent with the card. Some of the places where UOB Preferred Platinum cards do earn SMART$ Cash are Coach, Sushi King, Harvey Norman, SenQ, BHP Petrol and many more.  This card also grants you free access to KLIA, LCCT and Senai Plaza Premium Lounges but it is subjected to monthly quota. 

Other benefits of this card is that it offers free complimentary 18 holes green fees at selected golf clubs and 5X UNIRinggit for transactions in Singapore and 2X UNIRinggit for other overseas transactions.  

Reward Points and Cash Back - 1 STAR (because of the SMART$ Cash and 2X and 5X UNIRinggit reward). 
Reward Points or Cash Back For Petrol - 1 STAR (since it gives 1% cash back at BHP). 
Customer Service  - 1 STAR ( from my personal experience). 
Free Airport Lounge Access - 1 STAR (subjected to quota unless you have the Privilege Banking status).
Automatic Free Annual Fee Waiver - 1 STAR (Spend RM3,000 and swipe 12 times).
Travel Insurance - NONE 
Others - 1 STAR (for complimentary golf green fee at Selected Golf Clubs). 

TOTAL STARS = 6 STARS 



No.6 - OCBC TITANIUM MASTERCARD 

This credit card annual fee is waived if you swipe 12 times and the RM50 GST absorbed by the bank if you spent RM10,000 with it per year. Main benefit of this card is the 5% pure cash back for Petrol, Groceries, Utility Bills and Dining. However, the one major disadvantage or con of this card is that the cash back is capped at RM50 per month. Once the RM50 cap is reached, the card holder do not earn any further cash back.  

Reward Points and Cash Back - 1 STAR (because of the RM50/month cap, the card is "useless"). 
Reward Points or Cash Back For Petrol - 2 STARS ( 5% cash back for ALL petrol stations). 
Customer Service  - 1 STAR ( from my personal experience). 
Free Airport Lounge Access - 1 STAR (you need to purchase ticket costing more than RM3K).
Automatic Free Annual Fee Waiver - 1 STAR
Travel Insurance - NONE (limited travel insurance is provided but it does not warrant a STAR)
Others - 1 STAR for GST waiver.

TOTAL STARS = 7 STARS 



No. 5 - CIMB BANK WORLD MASTERCARD with VISA INFINITE. 

You have to get these premium cards in a pair to benefit from the different promotions offered individually to their Visa and MasterCard. CIMB Promotions are very good in my opinion.

CIMB MasterCard members enjoy limited time Sundays cash back at selected merchants ( Guardian, Giant, TESCO, KFC) and complimentary Golf. And with the Visa Infinite, you enjoy 1 for 1 free movie ticket at Golden Screen Cinemas and for dining at selected hotels. The CIMB Visa Infinite now comes with 2 free annual passes to Plaza Premium Lounge BUT you got to spend RM100,000 with it annually to get these 2 free passes renewed. 

CIMB do have pretty good promotions like 15% discount at ERAMAN Duty Free outlets, 0% Balance Transfer, Free  coffee at Dome, 15% discount at Tai Thong Group's outlets, 10% discount at Alexis and many other promotions for LIMITED TIME. 

The Visa Infinte card earns you cash back of 0.5% for local transactions and 1% for overseas. The World MasterCard on the other hand reward you with 2X points for overseas transactions. 

Reward Points and Cash Back - NONE (because it gives the standard with 0.5% equivalent returns). 
Reward Points or Cash Back For Petrol - NONE 
Customer Service  - 1 STAR ( from my personal experience). 
Free Airport Lounge Access - 1 STAR (with the Visa Infinite).
Automatic Free Annual Fee Waiver - 2 STARS (FREE FOR LIFE without conditions. Even if you don't do a single transaction for years, you won't be subjected to a single sen of annual fee).
Travel Insurance - 1 STAR 
Others - 3 STARS ( 1 STAR for complimentary green fees at selected golf club with the World MasterCard, 1 STAR for 1 for 1 free movie ticket and dining with the Visa Infinite, 1 Star for CIMB promotions). 

TOTAL STARS = 8 STARS 




No. 4 - EON BANK VISA SIGNATURE 

[Update August 2011 - please note that the EON Bank Visa Signature is now issued by Hong Leong Bank and is called HLB Visa Signature).

This card is EON Bank's flagship card and it is considered the top of the range amongst the Visa Signature issued by local banks. The annual income requirement to be eligible for this card is RM180,000 p.a. The annual fee of RM800 is waived subjected that you spent RM30,000 with it per year. 

The card earns you 1.5X reward points for local transactions and 2X for overseas. On top of points, this card also gives you cash back of 1% for overseas transactions subjected that you spent RM10K with it overseas and the cash back is capped at RM500. 

The EON Bank Visa Signature grants you 3 free access to worldwide airport lounges with Priority Pass membership. And for a limited time, from now until end of December 2011, EON Bank Visa Signature cardholders enjoy unlimited FREE access to KLIA, LCCT, Senai and Changi Plaza Premium Lounge.  

Reward Points and Cash Back - 1 STAR (because it gives higher than the standard 1X for every Ringgit spend locally and for overseas 1% cash back in addition to 2X points).
Reward Points or Cash Back For Petrol - NONE 
Customer Service  - 2 STARS (Toll Free Line CS. One particular EON Bank Visa Signature CS representative very helpful and would call me back on my queries and he even called me to wish me Happy Birthday! ). 
Free Airport Lounge Access - 2 STARS (worldwide airport lounges with Priority Pass and until 31 December 2011, unlimited free entry to Plaza Premium Lounges).
Automatic Free Annual Fee Waiver - 1 STAR
Travel Insurance - 2 STARS (because it offers Medical Insurance on top of Travel Insurance).  
Others - 1 STAR (for Free Purchase Protection Plan against theft and damage).

TOTAL STARS = 9 STARS 




No.3 - AMERICAN EXPRESS PLATINUM CREDIT CARD

The American Express Platinum credit card earns you minimum 2X Membership Reward points for any transaction which works out to be 1% cash back since you can redeem 200 Membership Reward points for RM1 cash back. And for your transactions related to groceries, petrol, GSC tickets, phone bills and books (at Borders, MPH, Kinokuniya and Times)  you will earn 5X Membership Reward points or 2.5% cash back. Also, you will earn 10X Membership Reward points (equivalent to 5% cash back) for your purchases at AMEX Platinum Partners. The best part about American Express Cash Back is that it is uncapped. So for big spenders, this card is excellent. 

The annual fee for the American Express Platinum credit card is RM800, and you got to request for yearly waiver. 

Other benefits of this card is that it offers complementary green fees at selected golf clubs, pruchase protection plan and unlimited access to KLIA and LCCT Plaza Premium Lounge. 

Reward Points and Cash Back - 1 STAR (because it earns you minimum 2X Membership Reward points and unlimited 5X Membership Reward points for groceries, GSC, book stores and phone bills). 
Reward Points or Cash Back For Petrol - 1 STAR (you earn 5X MR points or 2.5% cash back). 
Customer Service  - 2 STAR ( Toll Free and CS representatives always courteous - i.e. AMEX 1800-88-9559). 
Free Airport Lounge Access - 2 STARS (unlimited access to local Plaza Premium Lounge).
Automatic Free Annual Fee Waiver - NONE
Travel Insurance - 1 STAR 
Others - 3 STARS ( 1 STAR for dining offers and other promotion, 1 STAR for complimentary green fees at selected golf clubs and 1 STAR for Purchase Protection Plan).  

TOTAL STARS = 10 STARS 

To read more about American Express Platinum Credit Card click here to AMEX website.


No.2 - MAYBANKARD 2 PLATINUM CARDS - AMERICAN EXPRESS with Visa or MasterCard.

Well, I have mentioned the benefits of Maybankard 2 Gold Cards above in general. The Maybankard 2 Platinum cards have more benefits compared to the Maybankard 2 Gold cards where you will enjoy Toll Free line to Maybank Customer Service, complimentary green fees at selected golf clubs, purchase protection plan and travel insurance.

Reward Points and Cash Back - 2 STARS (because it earns you unlimited 5X Treats Points anywhere on earth anytime and 5% Cash Back on weekends capped at RM50/month). 
Reward Points or Cash Back For Petrol - 1 STAR 
Customer Service  - 2 STARS ( since it gives Toll Free for Platinum cards, gave it 2 STARS here as bonus because Maybank CS did improve this year from previous years. You may want to call AMEX at 1800-88-9559 where the staff are better trained and more courteous). 
Free Airport Lounge Access - NONE 
Automatic Free Annual Fee Waiver - 2 STARS, FREE FOR LIFE without conditions. 
Travel Insurance - 1 STAR 
Others - 3 STARS (1 STAR for dining offers, 1 STAR for complimentary green fees at selected golf clubs and 1 STAR for Purchase Protection Plan).

TOTAL STARS = 11 STARS 



And the Top Spot for the Top Ten credit card in Malaysia goes to.............. drum roll...........

........................

 .......................

........................

The No.1 Best Credit Card in Malaysia - All My Credit Cards and Debit Cards combined, hahaha.




If the Maybankard 2 Platinum American Express card had provided free access to KLIA Plaza Premium Lounge and the American Express card is accepted by most insurance companies, then I would say that the Maybankard 2 Platinum Card is truly the best credit card in Malaysia but that is not the case. Also it lacks overseas Medical Benefits like the one provided by EON Bank Visa Signature, Citibank Platinum and Citibank PremierMile Visa Signature. One major disadvantage of the Maybankard 2 Card is that the American Express card is not accepted at ALL petrol stations :( The Maybankard 2 Visa or MasterCard is accepted by ALL petrol stations but you will only earn 1X Treats Points. So for now, I would say Maybankard 2 Platinum Card is second to none and the 5X Treats Points you earn with every Ringgit spent for any type of transactions is really good. 

However, once again, I would like to reiterate that there is no best credit card in Malaysia. To benefit most from a credit card, the consumer must be smart enough to choose the right card to use (not own) based on his or her spending pattern, promotions offered by the credit card and also dependent if we get discount from a particular merchant.  

To summarize once again, The Top Ten Credit Cards in Malaysia (based on my personal review on the credit cards) are:


No.1 - Combinations of all My Credit and Debit Cards.


No.2 - Maybankard 2 Platinum Cards.


No.3 - American Express Platinum Credit Card. 


No.4 - EON Bank Visa Signature.


No.5 - CIMB World MasterCard with Visa Infinite


No.6 - OCBC Titanium MasterCard.


No.7 - Alliance Bank Platinum Visa/MasterCard.
No.7 - Maybankard 2 Gold Cards.
No.7 - UOB Preferred Platinum Visa/MasterCard.


No.10 - Citibank Platinum Visa Cash Back.


How about HSBC Visa Signature you may ask, well, this card don't give any reward points for petrol and the 5X reward points at selected malls and outlets is so damn insincere where it is capped at RM1,000 for local spending which comes out to be approximately equivalent to RM25 cash back per month which is far worst that OCBC RM50 cap. But anyway, let's take a look at the STARS for HSBC Visa Signature.

Reward Points and Cash Back - NONE (because the 5X reward points is capped for spending up to RM1K at very few places).
Reward Points or Cash Back For Petrol - NONE. 
Customer Service  - 2 STARS ( since it gives Toll Free for their Visa Signature card holders to call in). 
Free Airport Lounge Access - NONE. 
Automatic Free Annual Fee Waiver - 1 STAR. 
Travel Insurance - 1 STAR 
Others - 1 STAR (for complimentary green fees at selected golf clubs)
AND  minus 2 STARS for making me register for their stupid contests via sms and making me spend money more than RM5K in a month with their card but yet they failed to reward me with the Samsonite bag last time. Yah, I am still angry with HSBC for "cheating" me with their insincere contests and promotions.  

TOTAL STARS = 5 STARS but minus 2 STARS (for making me pissed off with them) = 3 STARS, hahaha. So for those who have won contest with HSBC credit cards, then you can say that the HSBC Visa Signature with 5 STARS awarded is ranked at No.10 too, tie with Citibank Platinum Visa Cash Back credit card :)  

Click here to read more about HSBC Visa Signature.


[Update October 2011 - Maybank launched their Visa Infinite credit card this month. For you guys who travel overseas frequently, do check it out as it earns you 5X Treats Points for every RM1 spent. On top of that, it gives you 5 complimentary entries to airport lounges worldwide.  Click here to read my article titled Maybank Visa Infinite - The Best Credit Card for Overseas? Got to wait till next year when I do my annual Top Ten Credit Card 2012 review to see if the Maybank Visa Infinite can be better compared to Maybankard 2 Cards or CIMB Visa Infinite and WorldMasterCard.  ]

OTHER RELATED POST

If you are new to credit cards, please my my article titled Introduction to Credit Cards -CC101 by clicking here. The article was written in 2009 and was the very first post in this blog. The general information is still relevant as of date and I believe it will be useful to you.


Click here to read about UOB Lady's credit card.

Click here to read my post titled Credit Card Fraudulent Charges - SMS Notification From 1st January 2011. In this article I gave several links about consumers liability in regards to fraudulent charges.  


Click here to read my article titled Malaysia Credit Card Annual Income Requirement and Credit Limit. 

Click here to read my article titled Credit Cards are Cash Cow For Banks. Are You Working For The Banks? If you are new to credit cards, do read this post where I gave an example on interest charges imposed on outstanding balance and touched on way that you can become poorer with credit cards.

UPDATE August 2012

Click here to read my article Malaysia Platinum Credit Cards - Which Is The Best For You?

Click here to read my article on Premier Credit Cards and see comparison between Maybank Visa Infinite versus other Premier Credit Cards like Visa Infinite by Standard Chartered, RHB and CIMB and also World MasterCard issued by CIMB and HSBC



UPDATE March 2012 - Click here for The Best Top Ten Credit Card in Malaysia - Ultimate Showdown 2012


29 comments:

  1. I prefer alliance and Eon bank. They have very good b.trf offer

    ReplyDelete
  2. Excellent update for credit cards in Malaysia. I don't see any Public Bank's card here... I guess they are really not good enough yet.

    ReplyDelete
  3. Can you do review for entry credit card for those just fresh graduate and work in society? :)

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  4. Eve, you may refer to my article Malaysia Best Credit Card - Is There Really One? where I have mentioned which banks issue cards with with free annual fees. Anyway, nowadays Fresh Grads earns at least RM2500 a month or RM30K/year, so go for Maybankard 2 Cards. Or look UOB OneCard, Citibank Clear Card, or whatever card easy for you to make payment. After a year, you would have build up your credit history and it will be easier to apply for other cards.

    ReplyDelete
  5. Just wanted to clarify on the Maybankard 2 Cards. It is advertised that all spending on weekends gets you 5% cash back but that is not entirely true. The reason is you get the 5% cash back when transaction date is on weekends for local transactions but for overseas transactions (including online transactions), the posting date is used to determine the transaction's eligibility for cash back. I've happily used my AMEX card on weekends for online purchases during the weekends thinking that I'll get the cash back but got a rude awakening when the statement was ready for viewing. I've called up the customer service centre and was told that overseas transaction will only get cash back if the posting date falls on a weekend. Not like we as card holders have a control over when merchants decides to settle credit card transactions with the banks!

    ReplyDelete
  6. Stephanie, thanks for sharing. Yah, MBB should give us the 5% cash back based on Transaction Date and not Posting Date.

    ReplyDelete
  7. Hi GX, thanks for writing this excellent post as I was just wondering if MBB 2 Cards were any good. Now I know.

    ReplyDelete
  8. Hi Gx,I didn't see any Standard Charted card, however I being offered Standard Charted Platinum Master card, any thing you can share from your point of view?

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  9. Michael, the only card that interest me from SCB is their VISA Infinite but I need to deposit RM250K with them just to get the card :(

    I used to have a SCB plat MC from SCB years ago but they refused to waive my annual fee in full so terminated the account and I don't think I lost anything from not having the card. You get nothing when you pump petrol and overseas conversion rate is not competitive compared to MBB.

    Having said the above, if they are offering you like cash back and free annual fees for 2 or more years and GST waiver, well you can get the card and get free access to KLIA Plaza Premium Lounge :) That is if you don't have a current card that give you free access to KLIA PPL.

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  10. many thanks GX. Example, let say I use the card frequently, do they consider give me full waiver? I got to think twice, as they pre-approve the card for me.

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  11. The partial waiver SCB offered me was like more than 8 years ago where at that time banks were not so generous. Nowadays with GST, competition is stiff and I would say that is it quite common for banks to waive annual fees in full.

    No harm getting the card since I am sure the annual fee will be waived for the next 2 years and after that you can decide if you want to keep it or not.

    ReplyDelete
  12. Hi, GX. What do you think about CIMB Petronas Mastercard and Jusco Visa?

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  13. Unknown, CIMB Petronas is okay since you do get some cash back at Petronas and you get to enjoy some of CIMB promotions. But if you want purely for petrol, there are cards like UOB One Card, OCBC TMC and Citi Plat CB that gives 5% cash back every day.

    As for JUSCO card, I assume you meant AEON card, well, from what I see, this card do have installment plans BUT it is not interest free. Furthermore installment plans are debts. So this card is not attractive to me. Maybe you should google it to get more info.

    ReplyDelete
  14. Alright. Thanks a lot, GX.

    My name is San. Nice to meet ya.

    ReplyDelete
  15. excuse me, GX. i have some more questions.

    i'm looking for a cash back credit card and my monthly income is about 2.5k, which should i go for?

    is the convenience of making payment also an important consideration for credit card application?

    ReplyDelete
  16. San, you can go for either UOB One Card or Maybankard 2 Cards AMEX. Please read me recent article Revamp UOB One Card where I have prepared an example. If purely for Petrol, UOB One Card better s it gives you 5% cash back everyday at ALL Petrol stations.

    Convenience to make CC payment - yes, to ensure that you make payment before the Due Date. If you are into online banking I guess this is not an issue. But if you like me, not into online banking, then it is best there is a bank branch nearby you to make payment by cash or cheque.

    ReplyDelete
  17. thanks for your reply, GX.

    erm. UOB is not easy to reach for me even with online banking and AMEX is not available everywhere right?

    any other options?

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  18. San, just go apply Maybankard 2 Card, if merchant do not accept AMEX still got Visa or MAsterCard.

    ReplyDelete
  19. i see i see. thanks a lot, GX.

    ReplyDelete
  20. I agree HSBC Visa Signature is dem insincere. July 21st 2011, they kind of have those '50% on top of any offer' at mid valley megamall. First you got to register. It turns out you better be the first few who swipe on Monday every week to win the meagre weekly quota out of this offer. But the advertisement very big ya '50% on top of any offer'. After that if you read the fine print some time in newspaper, you will become confused with their complicated terms whether you are eligible or not. RM 1000 from eligible merchants la. Newly registered card terms la. Promotion period la. I swipe RM 300 that day at Gardens Mall and my credit for that months was more than RM 1000. I oso dun want to bother to find out eligible at all or when they will pay.

    By comparison Maybank Amex November - February period their 15% cashback on top of any offer is clear cut - just swipe as early as possible during the month before their quota runs out.

    Last year 2010 HSBC credit cards have similar cashback promotion. But have to send SMS with approval code to get some XX% of cashback. Guess what? The sms message will tell you the limit has been reach for the day. You know what I did? As soon as the credit card sms machine open at 10am, I sms at 9:59:45 seconds. If cannot, try try try spam spam spam until 10:15am. Apparently sms machine open until 11pm wo...Dun bother after 10:15am. That tactic earned me the only once and total enjoyment of their RM 170-180 cashback ever.

    check out the sincerity ya

    ReplyDelete
  21. Ming, well at least you did "win" RM170-180 last year from HSBC. I gave up on their contests long ago. But I did swipe RM1K last week at Mid Valley for a watch and the balance with Maybankard 2 Cards that earned me guaranteed ash back of RM50 on top of 5X TP :)

    ReplyDelete
  22. Ya now that you mention, I realized it is a contest so I shouldn't complain. 21st July 2011, I signed up for Maybankard 2 Cards.

    GenX your credit credit cards like Magic The Gathering playing card deck, no need to pay RM 50 for each card ka?

    ReplyDelete
  23. Ming, Of course I need to pay the RM50 GST and I do cancel cards that do not earn me more than RM50 in terms discounts, cash back, voucher redemption, etc. Having said that, so far this year EON Bank VS and RHB Plat credited RM50 into my account :)I have posted pictures of my cards since 2009 and you can see that I have cancelled many and at the same time apply for cards that have will benefit me based on my spending pattern.

    Ming, your comments are most welcome and appreciated, however can you repost the other comment without the link (I won't post comments with 3rd party links that I am not familiar with, sorry).

    ReplyDelete
  24. Ming said....

    Oh I know what you mean liao. I was just saying MO Outlet (off season luxury brands) always tie in with CIMB for extra 10% discount on goods like Zegna, Aigner, Farah Khan, Hugo Boss, Dolce and Gabbana, Cole Haan etc. So a CIMB credit card is worth to keep for this occasion since luxury goods can easily reach above RM 1K even after the offseason outlet dicount. An extra 10% discount on 1K means RM 100 lor. I mean can save more than RM50 if you like your wardrobe with those brands. The other one is Maybank American Express - for past 2 years during period of November till February they give %15 cashback on top of any retail transaction.

    ReplyDelete
  25. 2nd August 2011 I self collected my Maybank 2 Credit Card from bank. Applied on 21st July 2011. On retrospect, this card does have a weakness: The VISA half does not offer 5% weekend cashback and no 5X points. In case your merchant accepts only VISA, maybe better use one of GenX's top 10 cards above.

    ReplyDelete
  26. Hi, I am Malaysian but i am working in Singapore, how likely i will successfully apply for the Maybankard 2 cards? Because i used to do a lot shopping at Penang.

    Thanks

    ReplyDelete
  27. A Lai, next time you're back, drop by Maybank branch with your documents proofing your income and apply for the card and you'll find out. By the way, does many places in Penang where you shop accept AMEX?

    ReplyDelete
  28. Hi GenX, i do not have any AMEX yet. In fact i am planning how to settle my wedding banquet bill which will be due on Jan2012, so that i can enjoy the most "rebate" from all kind of credit cards. I have read thru all your post, and i already worked out that i will get maybank2kard and alliance bank card for myself and my wife. And both of us will swipe for Rm5k each card/month from Oct to Jan2012. That worked out to be saving of RM400 for each of us, total saving is RM800. It that right?

    ReplyDelete
  29. A Lai, aiyoh to answer your question need to clarify certain things. So I decided to start a QUESTIONS page where anyone can ask me question, of course if I find the question irrelevant to CC or I just don't feel like answering or I don't know how to answer, I won't post the question, haha. Go click QUESTIONS page (near the top of this page) to read my reply.

    ReplyDelete

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