I am going to apply for the Petronas Maybankard Visa tomorrow!!! Woohoo

After the promotion period ending 31st July 2008, you will still earn 1 Treats Points for every 1 ringgit you spend at Petronas stations provided you pay with your Maybank Petronas Visa Card lah.

It is not stated on the website. I obtained the info from a Maybanker.

Maybanker = Maybank staff.

I submitted my application for the Maybank Petronas Visa card yesterday. Hopefully I will receive good news in 2 weeks time I have been a Maybank Visa Classic cardholder for the past 13 years and so far I am very satisfied with their service. The reason why I use Maybank credit card is because of ease of payment. I can pay thru ATM, CDM, CQM, Counter, M2U & M2U Mobile. Furthermore they have the largest base of merchants offering EzyPay which I really find useful. I have bought a camera, refrigerator and PC using this scheme.

I also like their Hotspots concept where you can visit any of their Hotspots merchants and redeem your TreatsPoints against any product carried by that particular merchant and everything is done ON THE SPOT. Beats having to fill the redemption form and waiting 4-6 weeks for the product to arrive and even then still keeping your fingers crossed that the product is not damaged!!

On a final note..it is not everyday that Maybank offers you a product for free . So grab it while it is still available.

Due to intense competition among banks merchant fees are on the downtrend. On average banks are charging between 1.6% - 1.8% for big merchants. Big merchants are those which can generate RM100,000-00 or more of credit card sales per month.

Bear in mind that the acquiring bank (bank providing the credit card terminal) does not pocket 100% of the merchant fee. For every transaction the acquiring bank needs to pay Visa/Mastercard 0.2% for using their infrastructure. And if the credit card being used for the transaction belongs to a different bank (not credit card issued by the acquiring bank) the acquiring bank has to pay 1.2% to the bank that issued that credit card. So in this scenario the acquiring bank's revenue is only 0.2% if the merchant fee charged is 1.6%.

So merchant acquiring business is basically a volume game. In Malaysia the major players in merchant acquiring business are Maybank and MBF.

The Maybank Petronas Visa card has no hidden fee and no conditon whatsoever. It is FREE FOR LIFE. PERIOD.

I just called the Maybank Card Centre today and was told that my application is being processed. Keeping my fingers crossed.

I called the Maybank Card Centre today and was informed that Maybank Petronas Visa card has been approved ) Woohoo Looking forward to 5X treats points when I pump and pay at Petronas.

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Added on February 18, 2008, 7:49 pmI was talking to a credit card processing officer today (was checking on the status of my Maybank Petronas Visa card application) and she told me they have received so many applications that processing time will stretch to 3 weeks from the normal 2 weeks. So if you have applied for one..please be patient

This post has been edited by tiger63: Feb 18 2008, 07:49 PM

Same here. I also applied 2 weeks ago and the card is already linked to my M2U even though I havent received the card. That's what I call efficiency Bravo Maybank

I was told by a Maybank staff that the response to the Maybank Petronas Visa is indeed overwhelming. He said that Maybank had set a target of 250,000 NEW card members for the first 12 months and as of today a total of 150,000 applications had been received!!! I dont know whether he was pulling my leg.

I received my Maybank Petronas Visa card today and they increased my limit to RM10K. Prior to this I was holding a Maybank Visa Classic card with credit limit of RM8K. So I m happy they increased my limit without me even asking for it. Tats what I call customer centric.

My MBB Petronas Visa card has the same statement date n payment due date as my existing MBB cards.

Its true that the processing time for Maybank Petronas Visa takes about 1 month. This is because of the overwhelming response to this card. My insider source told me that till today more than 200,000 applications have been received.

I have never had any problem using my Maybank CC in Australia and Europe. However it is advisable to inform your bank prior to your overseas trip so that you dont encounter any embarrassing situation when trying to use your CC overseas. Your transaction may not go through if you fail to inform your bank.