Tuesday, January 8, 2013

Pairing Your Maybank Amex with OCBC Titanium

NOTE - OCBC Titanium has changed its policy and is now a 1% cash back for nearly everything, instead of 5% cash back for certain merchants. Some pros and cons, more cons for me for now. 

Maybank 2Card (Amex + Visa / MCard) still remains my first choice.

As I wrote in my previous entry about the best credit card option currently being Maybank, here is a usage strategy we're using to maximize our returns.

Firstly what you'd do is setup all your auto billing to OCBC Titanium. NOW if you are like me and your total autobill does NOT hit RM1,000 then the above table should be applied. If your autobilling hits RM1,000 with your OCBC card, my suggestion is to put your OCBC card aside (except for autobill payments) and use your AMEX all the way!. Autobilling includes Astro, TM, Unifi, TNB, Digi, - i.e utilities, which you'd expect 5% cash back. Both OCBC and AMEX cash back is capped at RM50, with AMEX still giving treat points with no cap.

Ok so now lets say your auto billing does not reach RM1,000, then lets get started on the below table.

*By preference, #1 being first preference.

Just a quick explanation on my reasoning.

Firstly for weekends, AMEX wins hands down, as you get 5% cash back on top of 5x treat points.

For electronic item purchases, read thru AMEX T&C, as it has got a good coverage for extended warranty. With this in mind, I'd suggest use your AMEX for anything that would come with a warranty that AMEX would provide an extended warranty on top of this (remember to keep your receipts, if in doubt call the customer service).

Obviously on weekday's for groceries, petrol and dining, use your OCBC to max out your 5% cash back. However for Jusco, just stick to AMEX as OCBC only gives 1% for Jusco Aeon (at least the one near me) instead of the 5%. I called to check and it seems this is due to Jusco AEON vendor code is deparmental store and not groceries.

For any other purchases on weekday, AMEX is better coz according to most reviews AMEX 5x treat points is close to 2.5% cash back, which is better then OCBC 1% for other items.

For online purchases, I am pretty reluctant to use my AMEX as, as last I checked, you DO NOT get a on-time-password sms'ed to you for verification like your Visa / Mastercard. So i fear more easily for fraudsters to target AMEX.

For overseas, as we know AMEX has a higher commission charged compared to Visa / Mastercard. So last choice. Here I'd be split between Maybank Visa / Mastercard against OCBC. You'd need to figure out which bank offers a better conversion rate ( just call and ask what's the current conversion rate). Also supposedly for OCBC Titanium you can still enjoy the cash back 5% for petrol, dining and groceries purchases overseas. 

Note I have tried to make the matrix as simple as possible. Do share any thoughts if there is a better strategy you can think of. 

This is an entry under Value Tips which has got quite a number of blog entries and sharings on how to make your money work best, and saving $$.  If you found this entry do like it / share in on FB or twitter and spread the word around.


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