keeping more than one cashback credit card is still good. after all most bank cash rebate is capped at rm50. when you happened to have sudden huge purchase, it helped.
i swiped a total of rm22450 recently. amount was split among different cards.
1) rm1500 on my Standard Chartered Cashback Gold MasterCard for rm50.
2) rm2500 on my Maybank FCB Visa Signature card for rm50.
3) the rest of amount (RM18450) on my OCBC 365 MasterCard
1.0% rebate on first monthly spend of RM1,000 - RM10
0.5% rebate on subsequent spend above RM1,000 - RM87.25
total rebate:
rm197.25so no harm to keep more than one card as long as annual fee can be waived.
i have no problem in waiving my annual fee for my SCB cashback platinum mastercard ever since i got it.
the only banks i have issues getting waiver are:
1) OCBC - 365 mastercard initially cannot waive the annual fee (i guess it is due to my spending did not meet the min requirement as ever since maybank resume the 5% weekend on their amex 2 card, i have hardly use this card), then end up the CSO allowed me to swipe rm50 x 3 transactions within two months time to get it waived.
to prevent for similar situation, i applied one more titanium mastercard (no annual fee) as a backup, in case my 365 mastercard annual fee cannot get waived. I want to keep the credit limit given by OCBC as it is quite high as compared to any other bank cards i hold.
2) UOB - used to own the ONE card previously many years back. but kena charged annual fee and cannot be waived, they said there were new transactions after the annual fee transactions so even cancel cannot waive. end up i need to pay for the annual fee and i used it for a year before the new annual fee charged.
the most fxxsy bank when it comes to annual fee waiver.
For the RM18,450 that you swiped on OCBC 365, it would be better off if u use Amex instead (if Amex can be used) as Amex gives u 1.25% in terms of tp, which is RM230.63 equivalent. If cant use Amex, Hong Leong Essential is better off with 0.6% for first RM5k and 1% for the remaining, which mean you would have gotten RM164.50 instead.
I keep the HLE and just wipe 8x to get the AF waived for big purchase. Amex would be better off in terms of big purchase (but in the form of tp, not cash).