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Credit Cards OCBC Titanium MasterCard Cash-Back v4, From 29-Nov, unlimited 1% cashback only

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MilesAndMore
post Oct 23 2013, 10:03 PM

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QUOTE(Gen-X @ Oct 23 2013, 08:24 PM)
It is not uncommon for card issues to revamp or remove their card(s) from the market. Foreign Banks like Citibank, HBBC and UOB revise their cards' benefits periodically and without notice. Even MBB revised the TP for government/education transactions to 2X.
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True! Have you guys forgotten about Standard Chartered Titanium MasterCard ? That was such a short-lived card! It was in the market for less than one year or so. It was the IT card back in 2009. Standard Chartered was generous enough not to alter the benefits of the Standard Chartered Titanium MasterCard until last year.


QUOTE(Gen-X @ Oct 23 2013, 08:24 PM)
The OCBC Titanium has been in existence for more than 5 years and was revamped about 3 years ago to make it a pure cash back card offering True 5% cash back. And if not mistaken, the first ever credit card to offer 5% cash back for petrol as a standard card feature.
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I think Citibank is the first to offer this 5% petrol cash back as a permanent feature of its credit card. But then i'm not very sure either as it's been a few years already sweat.gif


QUOTE(Gen-X @ Oct 23 2013, 08:24 PM)
Prior to OCBC Titanium, StanChart also had a Titanium credit card offering very good cash back on Fridays.
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Yeah! And i didn't even have the chance to apply for this card. Tidak cukup umur then i think... sweat.gif


QUOTE(Gen-X @ Oct 23 2013, 08:24 PM)
And now, we lucky OCBC cardholders can brag that we also have a super duper exclusive credit card where even the super rich can't have it  laugh.gif
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Agreed! biggrin.gif It's ok if they stop selling this credit card. I just hope they won't change the features and benefits of this card anytime soon.


QUOTE(Gen-X @ Oct 23 2013, 08:24 PM)
It is no surprise that OCBC may have decided to discontinue the OCBC TMC because I bet their card department did not expect us to stop using the card once we hit the RM50 cash back cap. And I bet we LYN credit card enthusiasts have benefited thousands of Malaysians by sharing and stressing how to maximize the returns we get from CC by having both OCBC TMC and MBB 2 AMEX. And with OCBC handing out FREE cash up to RM650 to each individual OCBC TMC cardholder, I bet they are losing millions yearly.
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Very true! OCBC simply is too generous with this credit card already. The 5% cash back feature is already very good and couple with this RM50 usage bonus for annual spending not less than RM10k, i'll be very very surprised if they are making lots of money with this card. OCBC should be very thankful already if the commission earned from its Titanium MasterCard cardholders is enough to breakeven!
MilesAndMore
post Oct 23 2013, 11:46 PM

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QUOTE(heliora10 @ Oct 23 2013, 11:40 PM)
the same for MBB2 Amex, 5% + 5× treatspoints doesn't make sense to me. not that i'd complain lol.
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Maybank should still be easily breakeven or even make a lot of money from the commission and AMEX charges higher commission compared to VISA/MasterCard.
MilesAndMore
post Oct 24 2013, 01:18 PM

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QUOTE(cfa28 @ Oct 24 2013, 09:27 AM)
Continue means all benefits / rebates as per normal (until further notice) but no new cards to be accepted.

Guys, please call the OCBC Call Centre and speak to the CS and threaten to cancel your CC if the current benefits are reduced.

Do it, send OCBC the message, all their calls are recorded and monitored and reports on types of calls have to be made.
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I just do not see a point in doing this. IF OCBC Bank is really losing money on this particular card product, they won't mind losing all existing Titanium MasterCard cardholders, frankly speaking.


QUOTE(edwardccg @ Oct 24 2013, 10:59 AM)
Based on above statement. Does it mean that from now until end of Nov 2013 our current titanium have no benefits/ rebate?

if that so means our current statement is not getting any rebate? bank would not inform us if they will temporary remove the benefits? i am confused  shakehead.gif
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All Titanium MasterCard benefit is intact until OCBC says otherwise.


MilesAndMore
post Oct 25 2013, 01:49 AM

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QUOTE(cfa28 @ Oct 24 2013, 06:02 PM)
But a Cash Rebate encourages ppl to spend more. But still the MDR to the CC Company vs Cash Rebate to card holder, I dare to say that >  70% of Card Members get more rebates that was OCBC earns in MDR.

So, what is OCBC earning,  Simple, they hope that you overspend and cannot pay in full so they can charge you 15% interest rate.  This 15% interest rate may be enough to enough to cover the 5% cash rebate if there are enough of what they called 'revolvers', people who only can pay minimum or slightly above minimum.
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Hence come to my earlier point that there is no point threatening them. If OCBC Bank fails balance things out and really is losing money on this card product, no amount of complain will change their decision to withdraw this card from the market (should they decide to) or to replace the Titanium MasterCard with yet another redesigned credit card with lower rewards return to the card holder.


QUOTE(cfa28 @ Oct 24 2013, 06:02 PM)
CC Company hate transactors, ppl who pay in full. 
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No. Not really. The reason is quite simple too. It is because people who settle their outstanding in full every month is < those who pay only minimum of a bit more than the minimum.


QUOTE(cfa28 @ Oct 24 2013, 06:02 PM)
So, what is OCBC earning,  Simple, they hope that you overspend and cannot pay in full so they can charge you 15% interest rate.  This 15% interest rate may be enough to enough to cover the 5% cash rebate if there are enough of what they called 'revolvers', people who only can pay minimum or slightly above minimum.

CC Company hate transactors, ppl who pay in full.  CC Company will lose money if they are more Transactors compared to Revolvers.  So, if you guys want OCBC to continue this great Card, don't pay in full. Just revolve your monthly account.

Has anyone done a Poll of Transactors vs Revolvers in LYN?
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I certainly would not encourage people to do that. While i do not know how many people here settle their credit card in full every month and those who don't, but one thing for sure is that majority of Malaysian credit card holders do not settle their credit card outstanding in full every month. That is according to BNM.
MilesAndMore
post Oct 25 2013, 12:41 PM

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QUOTE(deity01 @ Oct 25 2013, 12:23 PM)
if OCBC no more 5%...then will citibank cash back platinum be a good substitute for WEEKDAY petrol spending?
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Either this or the UOB One Card.


QUOTE(deity01 @ Oct 25 2013, 12:23 PM)
and which card will be better to substitute its utilities bills, like astro, streamyx, unifi and etc, 5% rebate benefits?
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Auto-debit with MBB2 AMEX. 2% cash back at least. For utilities bills, it depends. If you are sure the MCC code is 4900, then HLB Wise VISA is the way to go.
MilesAndMore
post Oct 26 2013, 12:00 AM

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QUOTE(red_scorpion @ Oct 25 2013, 11:48 PM)
really? no more 5%? haiz.....if 1% then we have to consider other cards
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It's not confirmed yet but yes, you should have your heart ready for the worst now sad.gif

MilesAndMore
post Nov 5 2013, 06:02 PM

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QUOTE(victorywp @ Nov 5 2013, 05:27 PM)
however, with the insider's information like this, means that ocbc chose to maintain the same benefits of 5% and max capped of rm50, but only with small changes to improve members cc usage equally in all categories... in which i think is a win-win situation for both parties. at least the users still get the 5% and not lower...  wink.gif
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Agreed. It's better than getting rid of the 5% feature altogether.
MilesAndMore
post Nov 28 2013, 11:19 AM

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I'm very disappointed that today is the last day for this 5% cash back. Then again, is it really necessary to cut this card ? Unlimited 1% cash back is still not too bad you know ? nod.gif I am keeping this card for insurance and many other transactions that cannot be paid with AMEX.
MilesAndMore
post Dec 10 2013, 12:07 PM

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QUOTE(herc @ Dec 9 2013, 01:41 PM)
erm, why nobody discuss Alliance bank before? never knew its existence until mentioned above haha
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We have. But it was a few years ago and back then there was no credit card dedicated sub-forum.
MilesAndMore
post Jan 5 2014, 05:44 PM

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QUOTE(Zer0 c00L @ Jan 3 2014, 10:55 AM)
they might tempt you for the first year but annual fee might be a problem down the road
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I received the same call on the second last day of year 2013 and I was told that at the moment they do not have any T&C on how to waive the annual fee for the newly launched OCBC World MasterCard. However, in the event that it is time to renew your OCBC World MasterCard and they still can't waive the annual fee for your card then, they will be more than happy to downgrade your card back to the absolutely annual fee-free OCBC Titanium MasterCard should you wish.
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