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 Recommendation for Credit Cards V1, TQ to contributors ! (From MOD)

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alvincks
post Feb 12 2012, 03:02 PM

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Hi All,

I would like to get one platinum card, the reason to have it is due to my work requirement need to travel oversea frequently and I need more credit.

May I know what is the recommendation for platinum card, currently I'm using HSBC gold since long time ago.

is there any bank 's Platinum card annual fees can be waived ?

Thanks in advance!


alvincks
post Feb 13 2012, 08:10 PM

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QUOTE(David83 @ Feb 12 2012, 03:13 PM)
General platinum CC requirement needs annual gross income of RM 60k.

Entry level of platinum CC requires annual gross income of RM 48k such UOB ONE Platinum and Citibank Cash Back Platinum.
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Thanks David, My annual salary more than 60k, my monthly spend on CC around 1-1.5k.

7-8 yrs back, when I was in BIZ trip in Vietnam and I hold the Maybank credit card, they do not recognised it when I wanna to pay my hotel rental, lucky I own HSBC CC.

I'm not sure if oversea still having such issue, but my thought is to have only one card with more credit to allow me handle bills.

Did you guys recommend HSBC card ? so which card suit me most ?

I'm okay with RM50 charge, but not the case for few hundred charge, of coz the best is free smile.gif

Please do not shoot me as I'm family man, i would rather spend few hundred for my saving smile.gif

Thanks in advance !

alvincks
post Jul 24 2012, 02:21 AM

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Hi Guru,
Thinking of getting a new card and plan to have sub card for my wife,so that she can cancel her card(HSBC)

1. Annual Income: 100k according income tax
2. Free Lifetime Annual Fee: prefer
3. Card required for: Groceries, Utilities, Petrol, shopping, dining, medical bills, car services
4. Existing credit cards if any: [/B]HSBC gold
5. Preferred Bank or Considering CC from banks: look for the best rebate and no manual fees
6. Estimated Spending per month with the card: around 2-3k
7. Others: 0% installment.

What card should I get instead?

Thanks in advance!

This post has been edited by alvincks: Jul 24 2012, 02:24 AM
alvincks
post Jul 24 2012, 09:09 PM

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QUOTE(Gen-X @ Jul 24 2012, 08:59 AM)
I agree with Human Nature on getting both the OCBC and MBB2 Cards for your case.

However I also noted you mentioned you spend up to RM3K and your wife has her own card. Now if your wife has income or pays income tax, then she should also consider getting her own Principal Maybankard 2 Cards or OCBC Titanium MasterCard. This is because with you having the OCBC TMC and MBB2 Card, with RM3K spending you only get back RM100 cash back; but add another principal card from your wife, you can get up to RM150/month cash back.

Say for example, you and your wife's total expenses for Petrol, Groceries, TNB, Telco, Astro, Syabas and eating out is more than RM1K. Then it would be beneficial for your wife to get her own Principal OCBC TMC card too because OCBC Cash Back is capped at RM50/month. You get nothing once you hit the monthly cap.

On the other hand, if your wife shops a lot at places that accept AMEX (like AEON, MJ, Parkson, Mid Valley or 1U), then the Maybankard 2 Cards may be more appropriate as she can earn approximately 2.5% which is better than OCBC TMC 1% cash back. Better still if she spends money on Saturday and Sunday where the MBB AMEX earns her extra 5% cash back.

Click here to read my Maybankard 2 Cards Review where I did a comparison versus OCBC Titanium MasterCard. Spend RM1K/month with the MBB 2 AMEX and in a year, in additional to earning up to RM600 cash back you will have 60,000 Treats Points to redeem RM300 Parkson cash vouchers.

And to show you how good the Maybankard 2 AMEX is with 5X TP, click here to read my article FREE Money from Maybankard and Bonus Link for my wife's SK-II

As for medical bills and car servicing, if they accept AMEX best. But if they don't and you hit the monthly cash back cap with OCBC TMC, then you can either use your HSBC credit card or the Maybankard 2 Cards Visa or MC.

One more thing, I thought HSBC upgrading their cardholders' gold card to platinum. Anyway, if you are happy with HSBC, do consider upgrading to their Visa Signature as you do qualify for it. Click here to read my article on HSBC Premier World MasterCard and Visa Signature Benefits.
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Thanks Human Nature and Gen-X, very good comment and reviews!
my intention is to keep one card for myself and another sub card for my wife as she going to stop work and be a house wife soon, we kind of thinking re-evaluate our budget to keep into minimal by avoid out of control on swapping card, annual fees waived sound more important to us, cash back and other benefits will be added value, if really go for a single card, which could it be?

I heard some concern about MBB card cancellation issue(one from my brother case as well), they like to drag the cancellation process until the annual fees get impose, and you have to settle it before really cancel sad.gif

alvincks
post Jul 24 2012, 10:10 PM

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QUOTE(Gen-X @ Jul 24 2012, 09:43 PM)
Bro. Maybankard 2 Cards are Free For Life and only a single GST of RM50 for two cards which can be easily offset when you spend RM2K per year with the MBB 2 AMEX as you will earn 10K Treats Points to offset the GST. You can consider this card to be FREE.

As for OCBC Titanium MasterCard annual fee is waived with 12 swipes per year and if you spend RM10K with it within a year, OCBC will credit into your account RM50 at the anniversary date, as such it is like there's no GST being charged. So this card is also FREE.

So, coming back to your question, if you really going for a single card, which card to get? Well, based on your requirements and spending amount,  I strongly recommend you get both MBB 2 Card and OCBC Titanium MasterCard as both cards can benefit you for your essential expenses because these cards combined can really earn (save) you money. Unless you mentioned earlier you do not want MBB card, if I were to recommend you only a single card, it is just not the "right thing" to do.

As for your comment to avoid out of control spending, even if you got 1 credit card, if you got no discipline, it makes no difference. But from the way you post above, it shows you have planning and have been controlling you expenditure, as such, you should be thinking like most of us here ( in this section) on how to maximize returns from our expenses. Well, some at the SCB thread go one step further and go apply credit cards to get FREE money!!!

I have cancel my MBB cards before and got no major issue, just have to terminate early before the anniversary date and follow up with CS to confirm the card is cancelled after 2 -4 weeks time (this applies to all cards). But I can assure you that the MBB 2 Cards is going to serve you very well for many years to come.

Click here to my Mach by HLB credit card review where I have a table showing the cash back earned from various cards.
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Thanks again Gen-X, just to confirm the annual fees that we mentioned is same as the government service tax for credit card?
alvincks
post Jul 24 2012, 10:27 PM

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I see, so the government service tax will not absorb by bank based on certain condition?


Added on July 24, 2012, 10:29 pmanother dumb question, if i apply supplementary card for my wife, it will be another government service tax impose ?

the service tax is based on number of card? if myself and wife both have a card, means will charge RM100 as total?

This post has been edited by alvincks: Jul 24 2012, 10:29 PM
alvincks
post Jul 24 2012, 11:24 PM

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Thanks a lot Gen-X and Human nature ...

I know about the charge of GST, just that i didn't see HSBC charge me on annual fees but GST, so Mix up on GST replaced annual fees, my bad smile.gif

Thanks again to both of you!
alvincks
post Oct 14 2012, 12:09 AM

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Guru,

Any comment on HSBC platinum card ? what is good and bad ?

Thanks in advance !
alvincks
post Oct 14 2012, 12:39 AM

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QUOTE(Human Nature @ Oct 14 2012, 12:13 AM)
can find more comments here: http://forum.lowyat.net/topic/1833032
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Thanks for pointing out smile.gif


Added on October 14, 2012, 12:43 am

Need advice from following, thanks a lot !!

1. Annual Income: RM100k

2. Free Lifetime Annual Fee: A Must

3. Card required for: F&B, Groceries, Petrol, Cash Back/Rebate Only, Overseas Transactions

4. Existing credit cards if any: HSBC classic card

5. Preferred Bank or Considering CC from banks: Nothing specific

6. Others: Cash back preferred. Will also be used for online shopping or paypal perhaps.

7. Fixed expenses per month with the card: RM300-RM400 Petrol, RM700 Insurance, RM500-RM1k Food & Beverages

8. Non-fixed expenses but recurring in RM: Online shopping (Local & Internationally)

9. Might need a supplement card for my wife as well, prefer to annual fees waived if possible

This post has been edited by alvincks: Oct 14 2012, 12:45 AM
alvincks
post Oct 14 2012, 11:43 PM

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QUOTE(Human Nature @ Oct 14 2012, 12:53 AM)
Get the following combo:
- Maybank 2 cards AMEX gives you 5% cashback for weekend (cap RM50 monthly) + 5x points everday. Annual fee waiver. The visa/mastercard gives one of the best foreign transaction rate. If your wife qualifies, get her to sign up as another principal instead.
- OCBC Ti mastercard gives 5% cashback everyday (cap RM50) for dining, groceries, utilities and petrols. 1% for others. Annual fee waiver with 12x swipe.

If you dont get specific benefit from the HSBC classic, can consider to terminate it already.
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Hi HumanNature,

what is "cap" means ?

Btw, I can request Maybank to provide me just a single card instead of 2 cards ? I do want hold so many card
alvincks
post Oct 15 2012, 12:17 AM

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QUOTE(Human Nature @ Oct 14 2012, 11:51 PM)
it means the ceiling, maximum amount of cashback.
you cant, it comes in a 2 cards package but you only need to pay GST once. most of us here usually just keep the visa or mastercard in the drawer biggrin.gif
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Thanks, but in case burglary happen, they will help to swap ....i got a friend who been swap it for more than 10k ...


Added on October 15, 2012, 12:20 am
QUOTE(alvincks @ Oct 14 2012, 11:43 PM)
Hi HumanNature,

what is "cap" means ?

Btw, I can request Maybank to provide me just a single card instead of 2 cards ? I do want hold so many card
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OCBC card for Master only ? Visa have better acceptance from most of the shop, correct me if i wrong ...

OCBC better or Maybank ?

This post has been edited by alvincks: Oct 15 2012, 12:20 AM
alvincks
post Oct 15 2012, 11:52 PM

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QUOTE(hye @ Oct 15 2012, 03:35 AM)
What are you trying to say with "who been swap it for more than 10k"?

I need to correct you - VISA and Mastercard acceptance is the same in Malaysia. All card terminals issued in Malaysia generally accept both Mastercard and VISA. Unless you are a jet setter who travels to exotic countries some where in the world where they do not accept Mastercard and/or VISA. And I'm not talking about China - I do know in China sometimes they don't want to accept Mastercard and VISA in favor of their own local card - UnionPay.
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Thanks for the reply Hye! Sorry, bad language ...it is swipe instead swap smile.gif


Added on October 15, 2012, 11:54 pmThe Agent now approach me on HSBC Visa signature and say the existing point from classic card can be carry over and each ringgit spend will get 5x points...now sure if that's true ...

This post has been edited by alvincks: Oct 16 2012, 12:04 AM
alvincks
post Dec 26 2012, 01:55 PM

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Hi Guru,

May i know which card is allow cach back rebate for insurance payment?

Insurance company : Great eastern
Monthly payment : RM700

Thanks in advance!

This post has been edited by alvincks: Dec 26 2012, 01:57 PM
alvincks
post Jul 7 2013, 12:50 AM

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Guru,

Thanks ahead for recommendation, I'm putting some detail on spending, appreciated if can you suggest the best card i should hold and which should remove?

1. Annual Income: RM100++

2. Free Lifetime Annual Fee: A Must

3. Card required for: petrol, Cash back, Discounts, Sub card for my wife

4. Existing credit cards if any: HSBC - going to cut, OCBC platinum & StandChart platinum - thinking of cancel, but got higher rebate on petrol, should I?

5. Looking at CC from: Maybank and HL.

6. Others : Petrol spend-RM400 per month, Grocery spend-RM1500, Insurance auto-debit - RM1500


This post has been edited by alvincks: Jul 7 2013, 01:04 AM

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