Came to this thread to confirm which retailers are part of the 5% rebate group. Turns out that there is no more 5% rebate and yesterday was the last day. Wow!

What a waste then. Only got my card a few months back, I think my total rebate is only around RM100 or so. Haiz.

Will indeed be a quiet thread.......

I think a lot people aren't aware that the benefits have changes and the cash back is only at 1% now.

As a matter of fact, I myself am pissed on the whole thing as OCBC should send me a notification on this, either through SMS or e-mail. Not everyone goes online and hunt for updates. So happens I needed to check some info online regarding the card, thus, found out about this.

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.

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.

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....