Thursday, July 16, 2015

Malaysia Best Credit Card Review 2015


After the change in Maybank Treat Points System, where previously it would cost you around 10,000 points to redeem RM50 worth of voucher escalated to ~23,000 points needed to redeem RM50 worth of vouchers, I started to have questions on what would be the best credit card combination and use strategy. I did search high and low, but couldn't find any good summary updated based on the changes by Maybank. (maybe no one has written or maybe my lack of googling abilities).

Previously I did do some research and summarized it at pairing-your-maybank-amex-with-ocbc but with the changes in Maybank Treat Points value and reduction of OCBC cash back, I have now changed my credit card combo to Maybank 2 Card (Amex + Visa) and CIMB Cash Back.  And so I decided to do some research (and maths) on my own and have come up with my summary. What next? Obviously I would like to share what I've calculated. Note this is based on my own understanding, if anything doesn't add up, do comment.

UPDATED: Come 1st Aug, Maybank 2 Cards AMEX will only give 5% cash back on weekend dining and not all weekend spend. What a shame.... Details below
5% Weekend cash back² when spend on Maybankard 2 American Express Card.
²A cap of RM50 per customer (Principal Cardmember) per month.
Click here for Weekend cashback Terms and Conditions.
Note: Starting from 1 August 2015, the 5% Weekend Cashback Card Benefit will no longer applicable for Maybank2 American Express. The 5% Weekend Cashback will be replace with 5% Weekend Dining Cashback. Click here for the 5% Weekend Dining Cashback Terms and Conditions.


Just did that above table, now need to update...Anyway for first line - ALL Weekend : Change to Weekend Dining ONLY.  Now the CIMB Cash back is getting sexier wouldn't you say...

I think overall, if you do decent amount of online shopping e.g. lazada, groupon etc it is really worth getting the CIMB Cash Back. As usual most of this cards have a cap / limit (RM50). I also think eventhough if you do autobilling or pay at counter for your phone bills, you do not get the 5% cash back, what I do is buy my prepaid re-load online using my CIMB Cash Back and I think with this I am eligible to get the 5% :)

I'm also tempted to consider the Maybank Visa Signature due to the 5% cash back (everyday) for Petrol and Groceries, but might make my CIMB Cash Back not that needed - but in that case, I can leave my CIMB cash back at home just for online transactions.

I just created a new entry on calculating exactly how much each Ringgit spent translate into your rebate / cash back - read it here Calculating Your Credit Card Points Value

Note: I did not compare in detail to other cards like WISE for couple of reasons, some of them have a minimum spend / transaction frequency to be eligible. Also cause when I applied WISE years ago they rejected me, so no card no comment.

All my value tips entries are captured at Value Tips.



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