OCBC Titanium CC has been removed from OCBC Websire already.

Looks like its Good Bye to OCBC. It was a good CC, 5% rebate on Petrol, Restaurant, Telco.

http://ocbc.com.my/personal-banking/Cards/index.html


Perhaps someone can call OCBC and ask how much longer the Titanium Card features will be maintained

Updated - at 7.00 pm

Okay - I just called up OCBC to threaten to cancel my Titanium Card if the Card / Benefits are discontinued and I was told that OCBC is doing a special launch of theie Platinum Card which offers unlimited 0.50% rebate on all retail spending. Hence, for those who spend a lot, its better than the Titanium.

The Titanium Card will still continue as per normal and will be re-sold after the special promotion for the Platinum ends in end-Nov 2013

Have stressed to the CS to inform OCBC Management that there will be MANY cancellations if the Titanium Benefits are reduced.

Sekian Terima Kasih

This post has been edited by cfa28: Oct 23 2013, 07:06 PM

But citibank has 1-big T&C is that your rebates must accumulate until it reaches RM50 before it will be allowed to offset against your monthly bill payable.

Hence, I will not be using my Citibank Cashback Card as I want my rebates IMMEDIATELY.

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.

It means that all our current Titanium Benefits will continue as per normal. OCBC cannot terminate the Card Benefits without prior notice to Customers.

Howeverm the CS told me, all new applications has been suspended until end-Nov as OCBC wants to promote the Platinum Card

Hence, I say, please call OCBC and voice your objection to any potential cancellation of the OCBC Titanium Card

Same here Bro, its a hassle to change the auto debit for the Utility Bills, etc

-deleted as out of Topic-

This post has been edited by cfa28: Oct 24 2013, 03:41 PM

the first year I joined. OCBC send me an Annual Statement but in 2-nd year, no more Annual Statement Probably cost them more to send such statements.

From a CC Company perspective, a Points System vs Cash Rebate system, a Cash Rebate is more costly cos

1) Cash Rebate is immediate payment
2) Some card holders forget to redeem and some points expire
3) Many Points System - the actual value is low cos the CC company has special arrangements, etc

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.

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?



This post has been edited by cfa28: Oct 24 2013, 07:13 PM

You mean for Wise Card, there is no 'Free Annual Fee'. Almost all cards in Market is free Annual Fee right? Okay, I will discuss other Cards here but I will go to the Wise thread.

As for my previous post on Transactors vs Revolvers, guys, it was in sarcasm that I said that you guys should revolve. To digress for OCBC, even if the people Revolve, cos the Rebates are quite high, 5% and 1%, etc, unless the average Outstanding is more than RM4.0K for a monthly interest of 1.25% (Annual 15%), OCBC probably still lose $$$.

good news for all of us. Perhaps OCBC saw this tread and realized how many loyal; and passionate customers they had and knew that they could not afford to lose them.

Could be cos as mentioned no more new applications for Titanium until end Nov

For my streamyx yes, Unifi, as long as MCC Code is Utility company, should get it.

Refer http://www.ocbc.com.my/assets/pdf/Cards/Ti...%20FAQ%20TC.pdf

5% Cash rebate on Petrol, Groceries, Utility Bills and Dining

i. Petrol/Gas Stations (MCC codes 5541 and 5542)
ii. Grocery Stores (MCC codes 5411, 5422 and 5451)
iii. Utility Bills (MCC codes 4814, 4815, 4816, 4821, 4899 and 4900)
iv. Restaurant (MCC codes 5811, 5812, 5813 and 5814)

UOB is actually not complicated, just that they impose caps on each of the Rebate Categories. But I agree its hassle to remember the sub-limits.

Complicate is like RHB, Petrol Rebate is capped to 20% of Retail Spending.

Agree, the way it is explained in the PDF Doc is very confusing. When u say something is going to be discountinued and replaced with another feature, it should be clearely stated what is going to be discontinued and what are the new features.

http://www.ocbc.com.my/personal-banking/Ca...cards_more_info

Looking at this, does this mean that the "Annual Fee Free for Life" is going to be replaced or "the 1% Rebate on Retail Spending" or both. And replaced with what?

Anyone else have a different interpretation.

That's a good way of looking at it. the 5% was very good for me, paid all my utility bills and restaurant. With no capping, still makes sense to me. For Hypermarket, I can still use my UOB Card

I believe that the 1.80% is the net net after sharing with Acquiring Bank and Mastercard. The rate charged ranges around 2.50% gross. So, if its an OCBC Terminal that u swipe the Titanium, OCBC will get higher than 1.80%

Rules of Banking T&C, "If it ain't there, means its not going to be offered". But lets wait for final revised product sheet after 29 Nov. Its still subject to changes, depending on how the Card performs post 29 Nov.

For sure those with Auto Debit for Telco will change. Also for Hypermarkets, petrol, Restaurants, will see some attrition. But the 1% unlimited Retail Spending is good for high value items such as Insurance, Jewelery, etc

Retail is everything except for something which is specifically mentioned. In this case, as nothing is mentioned, its safe to assume that Retail means evrything except for

1) Fees, including Late Settlement Penalty Fees
2) Interest charged on accrued balances

Just a passing note, UOB may be better than Titanium as it offers >1% on certain segments such as Pharmacy, Hypermaket, Telco etc. However, one must compare total cost of ownership which includes things such as

1) Annual Fees
2) GST
3) Additional Fees when it comes to monthly payments

i think its temporarily frozen until 29 Nov as they are already changing the T&C.

Best only for application to commence with revised T&C, less disputes, etc.

Lets wait, 29 Nov is just 2-days away

Just checked. its not there, means no more GST Waiver.

Hmm, the World Master Card with 1.20% unlimited rebate seems more interesting. What say u guys, switch for the additional 0.2% rebate.

No need to call up. Under BNM Rules, all official T&C must be stated in the Product Disclosure Sheet to avoid any misunderstandings.

The Previous RM10K for RM50 Cash Bonus to offset was in the PDC.

Now no mention means there is no automatic GST Waiver. But this does not mean u canniot call up individually and try your luck.