Jan 22 2015, 03:15 PM
QUOTE(laymank @ Jan 22 2015, 02:40 PM)
OK, I just called to clarify. Gen X has provided the correct fact.
Cash rebates are calculated based on tiered spending. RM3,500 spending will return RM51.50 cashback
With the spending of RM3,500 and cashback of RM51.50, the effective cashback percentage is 1.4714%, consider not bad for Visa / Master.Cash rebates are calculated based on tiered spending. RM3,500 spending will return RM51.50 cashback
So there is no such thing as 3%, this is the kind of marketing gimmicks that most people falls into as nowadays people don't read the fine print of T&C.
Spend with the thought of getting 3% return and never bother to check the effective return help the bank raise quite a handsome amount of ROI.
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