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Credit Cards Maybankard 2 Gold & Platinum Cards V14, #PrayForM2Amex #ripM2Amex

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Ramjade
post Jun 27 2015, 09:50 AM

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QUOTE(Wongchoy @ Jun 27 2015, 09:44 AM)
They won't be able to "profit" those money though. All these while they charge AMEX merchant 3% of their transaction. And from July, this figure will drop to 1%.  That 2% lost is astronomical! Imagine the value of AMEX transactions per day in Malaysia. How much is it worth? I am sure it is millions .
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Giving back 5% and getting income from 3% .That is already a loss for them. (Only on weekends.)
However on normal days, they gain 3%. tongue.gif
Ramjade
post Jun 27 2015, 09:50 AM

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QUOTE(Wongchoy @ Jun 27 2015, 09:44 AM)
They won't be able to "profit" those money though. All these while they charge AMEX merchant 3% of their transaction. And from July, this figure will drop to 1%.  That 2% lost is astronomical! Imagine the value of AMEX transactions per day in Malaysia. How much is it worth? I am sure it is millions .
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Giving back 5% and getting income from 3% .That is already a loss for them. (Only on weekends.)
However on normal days, they gain 3%. tongue.gif
kennykong85
post Jun 27 2015, 09:59 AM

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grrrrr
i juz fxxxkin applied the platinium + amex card.
seems like once i received the card i will cancel it right away.
maskedchan
post Jun 27 2015, 10:11 AM

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QUOTE(kennykong85 @ Jun 27 2015, 09:59 AM)
grrrrr
i juz fxxxkin applied the platinium + amex card.
seems like once i received the card i will cancel it right away.
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Why would u do that?
Still got one month to get cash back.
Don't panic yet until official announcement come out.
Then we mass cancel at 1august. The impact will be there tongue.gif
Guenhwyvar
post Jun 27 2015, 10:16 AM

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QUOTE(Human Nature @ Jun 27 2015, 01:26 AM)
The answer is no.
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QUOTE(victorywp @ Jun 27 2015, 02:16 AM)
yes, should be, since it's based on 400tp = rm1. but haven't go to clarify.
you have every right to cancel the card. besides, you can always say that you applied for the card because of the weekends 5%. since it is revised, you don't see any reason to keep it.
i thought you woke up already? but actually you still dreaming? lol...
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Thanks to both of you. Will see if they are going to change in "officially". If they are, time to potong! whistling.gif
kennykong85
post Jun 27 2015, 10:19 AM

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they ll nvr change 1. damn piss now.
i reckon i will receive my card by 3-4 weeks. so after i receive my card, how many weeks left? no point la.
the mass effect of cancel card wouldnt harm them 1. cancel it, and then look for a better card again. betul betul wanna x 9 them.

kena con dy aihz.

icewater
post Jun 27 2015, 10:21 AM

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QUOTE(fruitie @ Jun 27 2015, 09:23 AM)
It's already removed but the pop up window still shows that 5% weekend cash rebate is only applicable to dining.
user posted image
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so only 5% rebate on weekend will change to dining only starting August? still safe to be amex for July right?
SUSDavid83
post Jun 27 2015, 10:23 AM

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QUOTE(icewater @ Jun 27 2015, 10:21 AM)
so only 5% rebate on weekend will change to dining only starting August? still safe to be amex for July right?
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YES for both.
Wongchoy
post Jun 27 2015, 10:41 AM

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Saw a response from Maybank FB admin. He/she admitted cash back is limited to dining trnx only from August.
BeastX
post Jun 27 2015, 10:50 AM

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In July there are 8 more days to spend up to RM1k to get RM50 back...

Today and tomorrow... for what's left of this month...
xbotzz
post Jun 27 2015, 10:52 AM

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Any idea how to move the rebates out and cancel the card ?.. Anyone tried calling CS and asking them if can move excess funds to savings acct...

So far some options for alternate cards;
- Watami
- Wise
- Uob 1
- CIMB CR

Any other suggestions, for petrol, bills, groceries etc ?
PrincZe
post Jun 27 2015, 11:35 AM

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if remove, what will happen to the TPs? sad.gif i got around 30k tp
SUSDavid83
post Jun 27 2015, 11:37 AM

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QUOTE(PrincZe @ Jun 27 2015, 11:35 AM)
if remove, what will happen to the TPs? sad.gif i got around 30k tp
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Nothing will happen to your TPs.

If you choose to stick with the cards, the TPs will still there. The 5x/2x* TP benefit remains unchanged.
midnight_plue
post Jun 27 2015, 11:39 AM

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walau!!! sien ady. maybe will consider cutting the card since the 5% no more. >.<
PrincZe
post Jun 27 2015, 11:40 AM

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QUOTE(David83 @ Jun 27 2015, 11:37 AM)
Nothing will happen to your TPs.

If you choose to stick with the cards, the TPs will still there. The 5x/2x* TP benefit remains unchanged.
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sigh, this is so hard. blush.gif
Ramjade
post Jun 27 2015, 11:41 AM

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QUOTE(PrincZe @ Jun 27 2015, 11:35 AM)
if remove, what will happen to the TPs? sad.gif i got around 30k tp
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Just go change for one rm50 voucher. The rest burn la. No choice.
hebe87
post Jun 27 2015, 11:46 AM

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to me it is good as back up card in view of no annual fee and 1.25% equilavent of cashback (TPs)

can use when other cards' cash back limit use up
xbotzz
post Jun 27 2015, 11:55 AM

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Check this out, a quick check on this issue, back in late Nov 2014;

An AMResearch article on Credit Card interchange fees. Expected loss in revenue.

http://cdn1.i3investor.com/my/files/dfgs88...-1648726733.pdf

Quoted;
"CIMB and Maybank have relatively larger market share of credit cards receivables. Of the local banks, we estimate that CIMB and Maybank have the largest market share currently in terms of credit card receivables, at 16% and 15% respectively.
Next on line is HLBB’s 12.2%, followed by RHB Cap at 5.8%, PBB at 4.6% and AFG at 1.7%. We think this will also closely reflect the market share of purchase transactions by credit card holders. The banks are likely to mitigate the impact of this
through, perhaps, lesser reward programmes to credit card holders."


MBB has a 7billion revenue on Credit Card Recievables;
http://cdn1.i3investor.com/my/files/dfgs88...4-449038011.pdf
Page 66

I have pasted this in
http://klse.i3investor.com/quoteservlet.jsp?sa=ss&q=MAYBANK

So share/stake holders can expect some losses in this sector coming next quarters. I believe this 2Card is one of their hot selling products. It is gonna give an impact if there is a mass termination within the next few months.
-Nos-
post Jun 27 2015, 12:04 PM

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maybank is getting crazy these days.

first the treat points inflation and now this.

by implementing the 5% cb for dining is pointless and stupid.
with the 10% service charge and 6% GST , what can the 5% do? tooooppppp kek.

very dissapointed with maybank. shakehead.gif
Axell
post Jun 27 2015, 12:05 PM

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QUOTE(Human Nature @ Jun 23 2015, 09:02 PM)
If it is free, why not?  tongue.gif  laugh.gif
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