Absolutely agree with you. I found this news "accidentally" and I am going to cancel this card.

Hi, since ocbc revamp titanium card benefit, is the benefit that 50 cashback for spending 10k in a year still remained?

Sure, will do so

I only have 1 credit card which is this OCBC Titanium as I think it is the best rebate card in the market.

Guess OCBC is making a loss in this card maybe too many wise and smart users

I'm going to apply for UOB One Card to replace this, at least 5% petrol and a bit of grocery and bill which is what I always use.

Thanks
Finally can enjoy more than RM50 from titanium

To think about it, 5% is rather unsustainable for them too. From what I know, the service charge for VISA/Mastercard to retailers are 1.75%. If they give out 5% constantly to most of their credit card users, that will surely mean that they will be making a loss. Rather, the attractive 5% rebate for certain categories is just a short acquisition strategy by the company. Then once they have the numbers, they stop their acquisition drive promotion and hope customers continue on with them.

AMEX is much higher at 3.75%, that's why most retailers are reluctant to accept AMEX especially those with very small profit margins.

For me, I'm currently using Stan Chart Biz Platinum which gives 15% rebate for petrol, no conditions such as minimum amount spent and so on. But campaign is up until end of the month only. Haiz.
For others, pushing to weekend for my Maybank 2 Card AMEX.

That's if you do some massive swap...
Etc:
Wedding dinner: RM30k
Downpayment for house when sign S&P: RM20k

That's a good way to go about it and that's what I'm going to do too. Just keep it, after all, there is no cost (until at least it's time to pay the govt tax of RM50). I will most probably cancel my card by then.

brilliant OCBC.
seems they are targeting for higher spending instead of kacang putih expenses.

i am sure OCBC knows many people will stop using or cancel their cards instead

It's a situation where they do massive acquisition drives which will initially result in losses to them. Then after they achieve their target numbers, they will have to stop the promotion in order to stop incurring losses. This is a normal strategy, not just for banks that are promoting credit cards, but also for memberships drives, subscription for telco services and so on.

Honestly, it's a pretty dumb cycle. They will start seeing their number of subscribers/customers drop and when it is too low, they will start a new acquisition drive with a new promotion.

But if those places accept Amex than Maybank2Kard still much better =)

I will keep this till cycle end as already gotten GST waiver for this last cycle. Backup card only. Time to apply something else.

yeah i think OCBC will start new cards when their customers drops too low instead of revamping this card

But usually new cycle always for the new card members. Should we cancel our card now, and become "new" card member when they start the new cycle?

yeah, let us all cancel now and become new members later.

the cs just offer to waive the GST without any swipe and offer me other cards such as Wise or Mach.....

you mean ocbc cs offer you wise/mach card?

Very good idea...hehehehe....
I think for most cards, usually the promo is for new card members only. Ok, will cancel this card soon then, although I just had it for a few months....

it's easier to cancel the card if you just have it for a few months. if you have it longer, sometimes you have a feeling with it already and not easily want to let it go (maybe hoping for miracles that ocbc will change back to the old system). LOL!

Dear All, if we pay bill via OCBC online do we still get the 1% ? or only retail ?