Anyone noticed the 1% unlimited cashback card that is coming soon? Hehe

you have to pay out of pocket first, and only they will reimburse you month by month.

if u read the fineprint, the cashback for 4.90 will take a while to reflect.

do you have to permanently link your grab to gx bank though?

Which means that you have to use your gx bank balance to pay for grab spending

https://www.lowyat.net/2023/311969/gxbank-l...rd-partnership/

The latter I guess

It's 3% per annum.

Means interest given daily la.

It's already stated p.a= per annum

Just like FC Barcelona Maybank card

common sense bro

mentally unsound is a general exclusion in most of the contract in Malaysia.

I think it's good if you are lazy to think about which card to use.

Else, there are better card out there that offers cashback for grocery, petrol etc.

Gx bank no rebate for grab unlimited this month?

I mean the rm4.90 rebate.

Did not receive anything this month

max spend is 10k per day? Was thinking to swipe the card for downpayment for a house

is education fees an exclusion?

No need to overdo the math, the 3% p.a interest is negligible for the 30 days.

Just use whatever credit card (or debit card) that gives the highest cashback.

My QRA purchase did not get any cashback even though its posted hmm

gx bank got 10k limit per day

Its the pay limit, transfer how to get cashback

Close to 0% MDR for debit card, they are bleeding badly

The shop will have to pay MDR to the merchant acquirer (the bank that provides the terminal) in return for having the option to receive card payments.
Few of the payment options available:

Cash- no fees, duh
Debit card- very low MDR, <1%
Credit card- higher MDR, >1%

As the MDR is what funds the card reward, similar pattern can be seen in the benefits for each segment

Using cash- no benefit
Using debit card- very little, close to 0 benefit
Using credit card- getting nerfed badly this few years as BNM has reduced the MDR for credit card

Of course, the merchant is not going to pay for the MDR, so they will raise the price of their product.

So if you are paying by cash, you are the biggest loser as you are indirectly subsidizing for the credit card user.

Back to GX card, they are definitely not earning enough MDR to cover their 1% cashback, hence this is not sustainable and is only a temporary measure to increase their user base.