Welcome Guest ( Log In | Register )

317 Pages « < 311 312 313 314 315 > » Bottom

Outline · [ Standard ] · Linear+

Credit Cards Recommendation for Credit Cards V4, Please post according to Format stated

views
     
KinniHan
post Nov 3 2024, 11:38 PM

New Member
*
Newbie
9 posts

Joined: Jun 2013


QUOTE(coolguy99 @ Nov 3 2024, 08:38 PM)
You can check out Alliance Visa Infinite then which gives out 5x points for grocery spending. However, they are only affiliated with enrich miles. 15k TBP = 1k enrich miles.
*
Alright, I will check this out. Really appreciate your suggestion, since Gxbank cashback is ending soon in coming weeks and I need to get a new card for taking benefits from the transactions. Thanks a lot ya
adele123
post Nov 7 2024, 05:57 PM

Look at all my stars!!
*******
Senior Member
4,619 posts

Joined: Jul 2013


QUOTE(KinniHan @ Nov 2 2024, 08:56 PM)
1. Annual Income: RM120K

2. Free Lifetime Annual Fee: Preferable.

3. Card required for: mainly local spend for gorcery and utilities. Monthly spending 60-100K

4. Existing credit cards (if any): HSBC Visa, just for petrol, mostly GX bank 1% cashback to be used.

5. Interested in CC from: Any

6. Others: Prefer cash back with no cap or airmiles

Appreciate your recconmendation. Thanks a lot
*
Can consider maybank visa signature. 5% grocery and petrol. Got cap, but at rm88 per month, i think it's highest already.
Ramjade
post Nov 10 2024, 02:07 PM

20k VIP Club
*********
All Stars
23,349 posts

Joined: Feb 2011


QUOTE(Barret @ Oct 18 2024, 02:07 PM)
Hello Shifus, i need your help for credit card reccomendation

1. Annual Income: RM60K++

2. Free Lifetime Annual Fee: If possible Yes, but if not preferably under RM300 per annun

3. Card required for: daily spending (groceries, food, online shopping) and also overseas spending (plane ticket, retails, vendors)

4. Existing credit cards (if any): None T_T

5. Interested in CC from: UOB Prvi Miles or please give me better reccommendation

6. Others: I'm a foreigner, been working here for 5 years. The problem is, i've never had any credit card before. I plan to use my card to pay for my wedding expenses back in my country so i can collect points/miles for honeymoon.

Thank you for your help  thumbup.gif  notworthy.gif
*
Since no one replied you, I will reply you. These are basically cashback card. If miles, I don't know. Never bother with miles.
Groceries
Maybank ikhwan MasterCard
Can only spend on Friday and Saturday

Online shopping
Maybank ikhwan amex

Overseas spend
Standard charted jumpstart account
ericling
post Nov 12 2024, 02:14 PM

Casual
***
Junior Member
319 posts

Joined: Sep 2009
Hi sifus,

Planning for a travel trip, looking for a credit card which can get high cashback / points for online booking (AirAsia, Agoda, Booking.com, Klook, etc)

Already have MBB Ikhwan AMEX, Affin DUO, and RHB Shell, any other cards good for online purchases?

Considering PBB Visa Signature, but don't quite like PBB because they seem to keep changing their cashback policy..
cybpsych
post Nov 12 2024, 03:10 PM

---------------------
*********
All Stars
64,335 posts

Joined: Jan 2003
QUOTE(ericling @ Nov 12 2024, 02:14 PM)
Hi sifus,

Planning for a travel trip, looking for a credit card which can get high cashback / points for online booking (AirAsia, Agoda, Booking.com, Klook, etc)

Already have MBB Ikhwan AMEX, Affin DUO, and RHB Shell, any other cards good for online purchases?

Considering PBB Visa Signature, but don't quite like PBB because they seem to keep changing their cashback policy..
*
can try RHB WMC card, which has dedicated cb for Travel categories and Overseas spending
coolguy99
post Nov 13 2024, 09:03 AM

Look at all my stars!!
*******
Senior Member
7,155 posts

Joined: Aug 2015



QUOTE(ericling @ Nov 12 2024, 02:14 PM)
Hi sifus,

Planning for a travel trip, looking for a credit card which can get high cashback / points for online booking (AirAsia, Agoda, Booking.com, Klook, etc)

Already have MBB Ikhwan AMEX, Affin DUO, and RHB Shell, any other cards good for online purchases?

Considering PBB Visa Signature, but don't quite like PBB because they seem to keep changing their cashback policy..
*
What about MBB Amex 2 Card. Just plan your purchases on the weekends. Another card that you may take into consideration is Ambank Enrich Visa Infinite that gives 1 Enrich Point for every RM1 spent on airlines.

Another is Alliance Visa Infinite that gives 8x TBP for online purchases. 15k TBP = 1000 Enrich Points.
aurora97
post Nov 13 2024, 10:58 AM

I Didn't get the Memo
*******
Senior Member
3,668 posts

Joined: Aug 2007



QUOTE(ericling @ Nov 12 2024, 02:14 PM)
Hi sifus,

Planning for a travel trip, looking for a credit card which can get high cashback / points for online booking (AirAsia, Agoda, Booking.com, Klook, etc)

Already have MBB Ikhwan AMEX, Affin DUO, and RHB Shell, any other cards good for online purchases?

Considering PBB Visa Signature, but don't quite like PBB because they seem to keep changing their cashback policy..
*
For Agoda, Booking.com and Klook (online travel portals), i think most credit card have some form of promotions with them but you really need to look into the fine print. For instance, they may say 18% cash back but in reality the cash back is to booking.com's ewallet (which is annoying), 20% discount on published price but capped at RM 80 per booking or campaign is dedicated to either VISA or Mastercard only.

Couple of questions to consider:
1. do you want cashback or points?

2.
(i) if you want cashback, are you currently fully utilizing your cashback? Like you manage to meet the spend limit and hit the monthly cap of RM 15 or 30?
- AMBank CashRebate Platinum Visa
up o 8% cashback for online, groceries and pharmacy subject to monthly spend. Other spend, you earn 0.1% with no cap.

- RHB Visa Signature
up to 6% cashback for online, entertainment and shopping but each category capped at RM 30. Other category cashback is fixed at 0.20% with no cap. Cashback rate differ depending on monthly spend. x6 complimentary lounge access

- HL Wise Card
up to 8% cashback (weekends only) and 1% (weekday) for online, groceries, petrol and dinning subject to RM 15 per category and min monthly spend of RM 500. Otherwise, 0.25% for other spend or if you do not achieve RM 500 min spend.

- Public Bank Visa Signature (hybrid between CashBack and Reward)
3% grocery, dinning and online transaction min RM 100 per transaction and capped at RM 30.
10x green points for every RM 1 spend on green category stuff
3x VIP points for RM 1 spend other overseas retail transactions
1x VIP points for RM 1 spend local.
2x complimentary PPL in Malaysia.

-MBB 2 Platinum 2 Card
AMEX - 5% on all weekend retail spending capped at RM 50, 5x TP on for every RM 1 spend on weekdays.

- MBB Barcelona
1% cashback for all purchases capped at RM 50.

- Alliance Bank Visa Signature
5% cashback on online shopping, groceries, dinning, petrol, utilities and all other retail spend. The cashback is unlimited but the 5% only applies when your spending range is between 2,001 - 3,000 after that, if you spend more than RM 3,000 is 0.25%.

Conclusion:
I would probably go for MBB Barcelona and Alliance Bank Visa Signature.

Do note MBB Barcelona, you don't get cash back for for government bodies, utilities and e-wallet reloads). So get all your RM 50 monthly cap after that use Alliance Bank Visa Signature for everything else.

Whereas Alliance Bank Visa Signature, is less restrictive (Cashback not given for Instalment Payment Plan, Flexi Payment Plan, Cash Advance, Balance Transfer, Fast Cash, Fees and Charges such as Finance Charges, Late Charges, Annual Fees imposed by the Bank, Reversed, Disputed Split and/or Void Transactions).

(ii) If you want points, what will you use the points for? (airline, redeemp stuff, set-off SST/Annual fee?)

3. if you like airlines, what is your preference, AirAsia, MAS, SIA etc...? Not the one that you hope to fly but rather your go to carrier.


ClarenceT
post Nov 13 2024, 11:14 AM

10k Club
********
All Stars
14,295 posts

Joined: May 2015
QUOTE(aurora97 @ Nov 13 2024, 10:58 AM)
For Agoda, Booking.com and Klook (online travel portals), i think most credit card have some form of promotions with them but you really need to look into the fine print. For instance, they may say 18% cash back but in reality the cash back is to booking.com's ewallet (which is annoying), 20% discount on published price but capped at RM 80 per booking or campaign is dedicated to either VISA or Mastercard only.

Couple of questions to consider:
1. do you want cashback or points?

2.
(i) if you want cashback, are you currently fully utilizing your cashback? Like you manage to meet the spend limit and hit the monthly cap of RM 15 or 30?
- AMBank CashRebate Platinum Visa
up o 8% cashback for online, groceries and pharmacy subject to monthly spend. Other spend, you earn 0.1% with no cap.

- RHB Visa Signature
up to 6% cashback for online, entertainment and shopping but each category capped at RM 30. Other category cashback is fixed at 0.20% with no cap. Cashback rate differ depending on monthly spend. x6 complimentary lounge access

- HL Wise Card
up to 8% cashback (weekends only) and 1% (weekday) for online, groceries, petrol and dinning subject to RM 15 per category and min monthly spend of RM 500. Otherwise, 0.25% for other spend or if you do not achieve RM 500 min spend.

*
If AGODA ... SG

RHB VS:
You won't get up to 6% online CB capped at RM30. You will get up to 2% Overseas CB capped at RM100.
Recently I paid RM4000 (charged in RM) to Agoda, I earned RM80 Overseas CB (instead of RM30 Online CB which must be "MY").

HLB Wise.
1% Cross Border fee even though the transaction is in RM.
(CIMB and StanChart and Bigpay are charging Cross Border Fee as well.)

This post has been edited by ClarenceT: Nov 13 2024, 11:18 AM
ericling
post Nov 13 2024, 01:33 PM

Casual
***
Junior Member
319 posts

Joined: Sep 2009
QUOTE(aurora97 @ Nov 13 2024, 10:58 AM)
» Click to show Spoiler - click again to hide... «
Thanks for this! Super helpful! Will be considering MBB Barcelona for the 1% (especially now that GXBank has discontinued their 1% cashbback. Will also keep MBB Platinum 2 card in mind, will apply if there's more use case arises..

Thanks again all! notworthy.gif
aurora97
post Nov 15 2024, 03:35 PM

I Didn't get the Memo
*******
Senior Member
3,668 posts

Joined: Aug 2007



Based on the summary that I have prepared in Credit Card Cash Back Summary, the following are some of the Cash Back cards that can be considered. Please visit the link for more details, any feedback appreciated.

The categories that are considered as follows:
(a) annual income
(b) categories covered by cashback
© exclusions (activities excluded from cashback)
(d) Total maximum potential amount obtainable from the card, assuming all conditions are met but excluding "other category that normally has unlimited cashback".
(e) other perks

Below are some data but due to the fact each product is unique or the terms and conditions are no clear, there may be some factual inaccuracies. You may point it out by posting in this post and I will amend accordingly.

Summary of all Cards observed:

AmBank CashBack Platinum
Annual income: 24K ------------ Categories covered: grocery/online/pharmacy ------ exclusion not sighted but bias Medium -----MAX CB RM 45 per mth or 540 per year

RHB Visa signature
Annual income: 80K------------ Categories covered: domestic (online/entertainment/shopping) & overseas ------ exclusion light -----MAX CB RM 190 per mth or 2280 per year ----other perks: PPL access

HL Wise
Annual income: 24K------------ Categories covered: online/grocery/petrol/dining ------ exclusion light -----MAX CB RM 60 per mth or 720 per year ----other perks: NIL

HL Essential
Annual income: 24K------------ Categories covered: all transaction/ insurance ------ exclusion light -----MAX CB RM 300 per mth or 3600 per year ----other perks: NIL

Public Bank Visa signature
Annual income: 80K------------ Categories covered: online/grocery/dining ------ exclusion heavy -----MAX CB RM 30 per mth or 360 per year ----other perks: PPL

MBB 2 Card Platinum
Annual income: 60K------------ Categories covered: weekend retail spend ------ exclusion medium -----MAX CB RM 50 per mth or 600 per year ----other perks: NIL


MBB Barcelona
Annual income: 60K------------ Categories covered: all transaction ------ exclusion medium -----MAX CB RM 50 per mth or 600 per year ----other perks: NIL

Alliance Bank Visa Signature
Annual income: 48K------------ Categories covered: all transaction ------ exclusion light ----- MAX CB - UNCAPPED ----other perks: NIL

Affin Duo
Annual income: 24K------------ Categories covered: all categories, CB subject to min spend ------ exclusion light -----MAX CB RM 50 per mth or 600 per year ----other perks: NIL

Affin Duo +
Annual income: 48K------------ Categories covered: all categories, CB subject to min spend ------ exclusion light -----MAX CB RM 100 per mth or 1200 per year ----other perks: NIL

AEON BIg Visa Gold
Annual income: 36K------------ Categories covered: Aeon Big (28th every month)/Petrol (Sunday only)/Online nd overseas spend ------ exclusion not sighted but bias Heavy -----MAX CB RM 130 per mth or 1560 per year ----other perks: PPL

RHB Shell Visa
Annual income: 24K------------ Categories covered: shell/grocery/online/top up/utilities ------ exclusion light -----MAX CB RM 100 per mth or 1200 per year ----other perks: NIL

UOB One -Classic
Annual income: 24K------------ Categories covered: Petrol/grocery/grab subject to min spend ------ exclusion heavy -----MAX CB RM 30 per mth or 360 per year ----other perks: NIL

UOB One -Platinum
Annual income: 60K------------ Categories covered: Petrol/grocery/grab subject to min spend ------ exclusion heavy -----MAX CB RM 45 per mth or 540 per year ----other perks: NIL

aurora97
post Nov 15 2024, 03:44 PM

I Didn't get the Memo
*******
Senior Member
3,668 posts

Joined: Aug 2007



QUOTE(ericling @ Nov 13 2024, 01:33 PM)
Thanks for this! Super helpful! Will be considering MBB Barcelona for the 1% (especially now that GXBank has discontinued their 1% cashbback. Will also keep MBB Platinum 2 card in mind, will apply if there's more use case arises..

Thanks again all! notworthy.gif
*
On second thoughts... I did a deep dive into Cashback cards. If I can only pick 2 cashback cards, I would pick:

(a)Alliance Bank Visa Signature (1st choice hands down); and
(b)HL Essential (I never thought I would say this or even think that HL cards are worth considering).

Other cards worth mentioning (the middle pack):
(a) RHB Visa signature (but annual income though)
(b) Affin Duo + (but i think there are some conditions that make this card less appetizing)

the Co-Branded followers:
(a) RHB Shell Visa (worth mentioning that this card beats out most other cards despite being co-branded card, if you pump shell and do other stuff, you can poentially get upto RM 1.2L in CB per annum.
(b)AEON BIg Visa Gold (this card is a mediocre at best but becomes a hero, especially when you buy most of your grocery from AEON or BIG, aside from that it commands a respectable coverage of PPL lounge in Malaysia.

Rest are just... for memes. puke.gif
ericling
post Nov 15 2024, 10:36 PM

Casual
***
Junior Member
319 posts

Joined: Sep 2009
QUOTE(aurora97 @ Nov 15 2024, 03:44 PM)
On second thoughts... I did a deep dive into Cashback cards. If I can only pick 2 cashback cards, I would pick:

(a)Alliance Bank Visa Signature (1st choice hands down); and
(b)HL Essential (I never thought I would say this or even think that HL cards are worth considering).

Other cards worth mentioning (the middle pack):
(a) RHB Visa signature (but annual income though)
(b) Affin Duo + (but i think there are some conditions that make this card less appetizing)

the Co-Branded followers:
(a) RHB Shell Visa (worth mentioning that this card beats out most other cards despite being co-branded card, if you pump shell and do other stuff, you can poentially get upto RM 1.2L in CB per annum.
(b)AEON BIg Visa Gold (this card is a mediocre at best but becomes a hero, especially when you buy most of your grocery from AEON or BIG, aside from that it commands a respectable coverage of PPL lounge in Malaysia.

Rest are just... for memes.  puke.gif
*
RHB Shell Visa is actually unlimited with "Other retail spend" at 0.2% cashback, hence making it my go-to card. RM50 guaranteed every month and if you spend ~RM415 on petrol, it will be a RM100 cashback every month.

Alliance Visa Signature is not bad, but I hate the complicated tiered structure.

And big kudos to you on the extensive write-up!

This post has been edited by ericling: Nov 15 2024, 10:41 PM
LostAndFound
post Nov 15 2024, 10:49 PM

Look at all my stars!!
*******
Senior Member
5,908 posts

Joined: Jul 2005
From: UEP Subang Jaya



QUOTE(aurora97 @ Nov 15 2024, 03:44 PM)
On second thoughts... I did a deep dive into Cashback cards. If I can only pick 2 cashback cards, I would pick:

(a)Alliance Bank Visa Signature (1st choice hands down); and
(b)HL Essential (I never thought I would say this or even think that HL cards are worth considering).

Other cards worth mentioning (the middle pack):
(a) RHB Visa signature (but annual income though)
(b) Affin Duo + (but i think there are some conditions that make this card less appetizing)

the Co-Branded followers:
(a) RHB Shell Visa (worth mentioning that this card beats out most other cards despite being co-branded card, if you pump shell and do other stuff, you can poentially get upto RM 1.2L in CB per annum.
(b)AEON BIg Visa Gold (this card is a mediocre at best but becomes a hero, especially when you buy most of your grocery from AEON or BIG, aside from that it commands a respectable coverage of PPL lounge in Malaysia.

Rest are just... for memes.  puke.gif
*
Your conclusion is very specific to your spending patterns, income, and lifestyle. And I disagree with it for those who have different spending patterns and income/lifestyle. You focus too much on absolute max amount of cashback you can earn, which makes sense only if your spending is essentially infinite.

UOB One (esp classic) is a champion card for those who have a tight lid on monthly expenses (i.e. find it hard to meet 3k min monthly spend for Alliance Bank Visa Sig to hit optimal cashback). Or those who can hit that amount but prefer to have multiple cards and because of that have trouble hitting certain targeted monthly spend. I generally recommend this for first timer. Because most wage earner even just starting out will easily hit at least 2 category (petrol/dining) RM100 monthly. So just need to pump RM100 to grab (pay RM1 for that RM10 cashback currently), and get familiar with trying to hit the grocery (those with children won't have a problem with this, but singles who don't prep their own food maybe will struggle). Minimum spend only RM500 so much less daunting than the cards you mentioned. If can hit RM100 per category that's a nice 8% or so cashback on the RM500 spend.

UOB Yolo is also quite a champion card if you spend at least RM300 online (and can plan this ahead) monthly. Then top up RM700 to an ewallet (shopeepay is the easy to use one which doesn't have fee currently) and that's 3% cashback monthly on the RM1000 spend.

Combining both of those cards you spend RM1500 a month and get RM70 a month. Your top pick is most efficient at RM3k spend a month for a total cashback of RM55.45 (or something like that, I don't have this card yet but planning to apply it soon to replace stupid SCB cards). Of course if you spend more you get more but... the marginal gains are really low.

In fact Affin Duo+ cashback visa (RM30 cashback for RM1k spend if you want optimal rate or RM50 cashback for RM1666.66 spend plus 0% balance transfer to ensure monthly balance >3k) is another good card for this sort of 'maximize my cashback given limited spend' user.

And most importantly... if you're in that HNWI bracket who have very high spending (real or business related) then points-collecting cards (esp for airmiles) are much more worth it for you. Leave the cashback cards for the real targets, those of us wage earners who are counting ringgit and sen.
ericling
post Nov 18 2024, 09:26 AM

Casual
***
Junior Member
319 posts

Joined: Sep 2009
QUOTE(LostAndFound @ Nov 15 2024, 10:49 PM)
Your conclusion is very specific to your spending patterns, income, and lifestyle. And I disagree with it for those who have different spending patterns and income/lifestyle. You focus too much on absolute max amount of cashback you can earn, which makes sense only if your spending is essentially infinite.

UOB One (esp classic) is a champion card for those who have a tight lid on monthly expenses (i.e. find it hard to meet 3k min monthly spend for Alliance Bank Visa Sig to hit optimal cashback). Or those who can hit that amount but prefer to have multiple cards and because of that have trouble hitting certain targeted monthly spend. I generally recommend this for first timer. Because most wage earner even just starting out will easily hit at least 2 category (petrol/dining) RM100 monthly. So just need to pump RM100 to grab (pay RM1 for that RM10 cashback currently), and get familiar with trying to hit the grocery (those with children won't have a problem with this, but singles who don't prep their own food maybe will struggle). Minimum spend only RM500 so much less daunting than the cards you mentioned. If can hit RM100 per category that's a nice 8% or so cashback on the RM500 spend.

UOB Yolo is also quite a champion card if you spend at least RM300 online (and can plan this ahead) monthly. Then top up RM700 to an ewallet (shopeepay is the easy to use one which doesn't have fee currently) and that's 3% cashback monthly on the RM1000 spend.

Combining both of those cards you spend RM1500 a month and get RM70 a month. Your top pick is most efficient at RM3k spend a month for a total cashback of RM55.45 (or something like that, I don't have this card yet but planning to apply it soon to replace stupid SCB cards). Of course if you spend more you get more but... the marginal gains are really low.

In fact Affin Duo+ cashback visa (RM30 cashback for RM1k spend if you want optimal rate or RM50 cashback for RM1666.66 spend plus 0% balance transfer to ensure monthly balance >3k) is another good card for this sort of 'maximize my cashback given limited spend' user.

And most importantly... if you're in that HNWI bracket who have very high spending (real or business related) then points-collecting cards (esp for airmiles) are much more worth it for you. Leave the cashback cards for the real targets, those of us wage earners who are counting ringgit and sen.
*
UOB YOLO (rebranded to EVOL) cashback is only applicable for spending starting from RM1000 right?

aurora97
post Nov 18 2024, 09:40 AM

I Didn't get the Memo
*******
Senior Member
3,668 posts

Joined: Aug 2007



QUOTE(ericling @ Nov 18 2024, 09:26 AM)
UOB YOLO (rebranded to EVOL) cashback is only applicable for spending starting from RM1000 right?
*
I updated the write-up to include UOB EVOL.

1K below - no cashback
1K to 1,999.99 - 5% across the board with sustainable partners at 8% - CB capped at RM 30 for all categories except for ewallet capped at RM 15
2K above - 5% across the board with sustainable partners at 8% - CB capped at RM 50 for all categories except for ewallet capped at RM 15



UOB EVOL (formerly known as UOB YOLO)

Min annual income: RM 36K p.a.

Annual Fee: RM 90 (P) / RM 30 (s)

» Click to show Spoiler - click again to hide... «
LostAndFound
post Nov 18 2024, 10:52 AM

Look at all my stars!!
*******
Senior Member
5,908 posts

Joined: Jul 2005
From: UEP Subang Jaya



QUOTE(ericling @ Nov 18 2024, 09:26 AM)
UOB YOLO (rebranded to EVOL) cashback is only applicable for spending starting from RM1000 right?
*
Yes. Nothing for RM999.99 spend. Which is why I said if you can spend RM300 online somewhere, 3 days before your statement date you calculate how much remaining to hit ngam-ngam RM1k and throw that amount into ShopeePay wallet or something similar. Effectively 3% cashback.
aurora97
post Nov 18 2024, 11:19 AM

I Didn't get the Memo
*******
Senior Member
3,668 posts

Joined: Aug 2007



QUOTE(LostAndFound @ Nov 15 2024, 10:49 PM)
Your conclusion is very specific to your spending patterns, income, and lifestyle. And I disagree with it for those who have different spending patterns and income/lifestyle. You focus too much on absolute max amount of cashback you can earn, which makes sense only if your spending is essentially infinite.

UOB One (esp classic) is a champion card for those who have a tight lid on monthly expenses (i.e. find it hard to meet 3k min monthly spend for Alliance Bank Visa Sig to hit optimal cashback). Or those who can hit that amount but prefer to have multiple cards and because of that have trouble hitting certain targeted monthly spend. I generally recommend this for first timer. Because most wage earner even just starting out will easily hit at least 2 category (petrol/dining) RM100 monthly. So just need to pump RM100 to grab (pay RM1 for that RM10 cashback currently), and get familiar with trying to hit the grocery (those with children won't have a problem with this, but singles who don't prep their own food maybe will struggle). Minimum spend only RM500 so much less daunting than the cards you mentioned. If can hit RM100 per category that's a nice 8% or so cashback on the RM500 spend.

UOB Yolo is also quite a champion card if you spend at least RM300 online (and can plan this ahead) monthly. Then top up RM700 to an ewallet (shopeepay is the easy to use one which doesn't have fee currently) and that's 3% cashback monthly on the RM1000 spend.

Combining both of those cards you spend RM1500 a month and get RM70 a month. Your top pick is most efficient at RM3k spend a month for a total cashback of RM55.45 (or something like that, I don't have this card yet but planning to apply it soon to replace stupid SCB cards). Of course if you spend more you get more but... the marginal gains are really low.

In fact Affin Duo+ cashback visa (RM30 cashback for RM1k spend if you want optimal rate or RM50 cashback for RM1666.66 spend plus 0% balance transfer to ensure monthly balance >3k) is another good card for this sort of 'maximize my cashback given limited spend' user.

And most importantly... if you're in that HNWI bracket who have very high spending (real or business related) then points-collecting cards (esp for airmiles) are much more worth it for you. Leave the cashback cards for the real targets, those of us wage earners who are counting ringgit and sen.
*
Thank you for your feedback.

Yes, the write-up is assuming that the person max up the spend requirement and fulfills all the conditions to achieve the maximum potential cashback capability. No one is HNWI here, it is just the assumption drawn from what is provided by the Bank and based on the terms and conditions and other metrics, the assumption is generated. Besides, each card isn't an apple to apple comparison because there are so many variables and products out there and it would be good to constantly received feedback to improve on my write-up, in which it covers 15 types of Cashback cards Summary of Cashback Cards.

In any case, I will respond to your feedback and benchmark with the following parameters:
(a) UOB One Classic

UOB One Card

Min annual income: RM 24K p.a. (One Classic Card) / RM 60K p.a. (One Platinum Card)

Annual Fee: RM 120 (P) & RM 60 (One Classic Card) / RM 195 (P) & RM 100 (S) (One Platinum Card)
» Click to show Spoiler - click again to hide... «


(b) Min spend RM 500 and RM 1K
© key categories Petrol, dinning [additional grocery]
(d) cashback at least RM 70 p.m or 840 p.yr

My suggestion as follows:

(a) HL Wise card
Min spend requirement of RM 500. Much less exclusions compared to UOB One -Classic but downside is that annual fee (RM 98) and SST (RM 25) cannot be waived. Also, if you are carrying out overseas transaction, you get slapped with 1% fee. Forgot to mention, if transactions during weekday, the cashback is 1%, if done over a weekend, the cashback is 8%. However, the total cashback (assuming all transactions done on a weekend 8%) achievable is RM 60p.m and RM 720 p.yr (RM 597 nett after annual fee and SST). Technically the cashback is still higher than UOB One Card. However, if your min spend is below RM 500, you get penalized hard by HL Wise.

(b) MBB Barcelona
No min spend requirement. All purchases 1% cashback except for Gov bodies, utilities and e-wallet. Total cashback achievable is RM 50 p.m or RM 600 p.yr

© RHB Shell Visa (worthy mention)

Unless you pump at shell and spend at least or more than 1.5K (best is more than rm 2.5k), this card can be considered. As its category is quie wide to include grocery/online spend/ top-up using ewallet and utilities. The exclusions are also not too bad. Potential Cashback achievable is RM 100 p.m or RM 1.2K p.yr

This post has been edited by aurora97: Nov 18 2024, 11:23 AM
LostAndFound
post Nov 18 2024, 11:26 AM

Look at all my stars!!
*******
Senior Member
5,908 posts

Joined: Jul 2005
From: UEP Subang Jaya



QUOTE(aurora97 @ Nov 18 2024, 11:19 AM)
Thank you for your feedback.

Yes, the write-up is assuming that the person max up the spend requirement and fulfills all the conditions to achieve the maximum potential cashback capability. No one is HNWI here, it is just the assumption drawn from what is provided by the Bank and based on the terms and conditions and other metrics, the assumption is generated. Besides, each card isn't an apple to apple comparison because there are so many variables and products out there and it would be good to constantly received feedback to improve on my write-up, in which it covers 15 types of Cashback cards Summary of Cashback Cards.
'Maximum potential cashback' is a useless metric. There's a reason why you should always use return-on-investment rather than just absolute returns. So my feedback is that a much more useful comparison is effective cashback rate rather than maximum potential cashback.

Because if you're going to use maximum potential cashback.... you're missing any card with infinite point earning potential which can convert points into vouchers/cash. As well as a lot of "0.2% unlimited cashback" cards (which is effectively the same thing).
aurora97
post Nov 18 2024, 11:36 AM

I Didn't get the Memo
*******
Senior Member
3,668 posts

Joined: Aug 2007



QUOTE(LostAndFound @ Nov 18 2024, 11:26 AM)
'Maximum potential cashback' is a useless metric. There's a reason why you should always use return-on-investment rather than just absolute returns. So my feedback is that a much more useful comparison is effective cashback rate rather than maximum potential cashback.

Because if you're going to use maximum potential cashback.... you're missing any card with infinite point earning potential which can convert points into vouchers/cash. As well as a lot of "0.2% unlimited cashback" cards (which is effectively the same thing).
*
Be that as it may, even if you consider the return-on-investment, it doesn't consider the exclusions or the spending pattern of the user. A cashback card may give you a high ROI but the fact is you must spend 2K and only pump shell petrol. These variables will skewer any attempt to factor in ROI.

The intent of max potential cashback is that you consider the baseline first, at least get all your cashback from all the relevant categories than only you consider the unlimited cashback, if even the baseline you cannot satisfy, it defeats the purpose as the categories of spend gives the most cashback. If however too much of your spending falls under the unlimited cashback category than your cashback card becomes ineffective. As you are merely getting 0.2%. That also assuming there is no Annual Fee and SST, which will degrade your ROI further.
1mr3tard3d
post Nov 18 2024, 02:51 PM

Regular
******
Senior Member
1,006 posts

Joined: Oct 2018


QUOTE(aurora97 @ Nov 18 2024, 11:36 AM)
Be that as it may, even if you consider the return-on-investment, it doesn't consider the exclusions or the spending pattern of the user. A cashback card may give you a high ROI but the fact is you must spend 2K and only pump shell petrol. These variables will skewer any attempt to factor in ROI.
*
that is why some threads got replied, while some didn't
» Click to show Spoiler - click again to hide... «

don't throw everything on the web/in the T&C

317 Pages « < 311 312 313 314 315 > » Top
 

Change to:
| Lo-Fi Version
0.0209sec    0.57    6 queries    GZIP Disabled
Time is now: 23rd January 2025 - 09:01 PM