Oct 23 2013, 11:40 PM
QUOTE(spikey2506 @ Oct 23 2013, 07:06 PM)
The CIMB Petronas Gold and Plat also gives 0.5% unlimited rebates on anything. With free annual fee without any restrictions.
IINM Hong Leong Essential credit card offers 1% unlimited cash back which i think is the best for big spenders who don't want any hassle and just a straightforward simple card.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.
QUOTE(MilesAndMore @ Oct 23 2013, 10:03 PM)
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!
actually i really wonder the economics of offering 5% cash back, i would imagine credit card issuers can earn at most maybe 1.5-2%, how are they supposed to make money from 5% cash back? even if you cap it at RM50, with any savvy consumer they'd just switch to the next credit card, so they'd never really earn anything. the same for MBB2 Amex, 5% + 5× treatspoints doesn't make sense to me. not that i'd complain lol.
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