Hong Leong Bank Wise Visa Cash Back Credit Card Review 2016

Another Credit Card Review by GenX @ http://www.GenXGenYGenZ.com


Effective 1st October 2016, you need to spend minimum RM2K with the Hong Leong Bank WISE Platinum and Gold Visa credit card to earn Cash Back. That’s not the only bad news, with the Cash Back capped at RM100 per month and taking into consideration of the annual fee of RM169.60, the effective cash back you can earn with the HLB Wise is only 4.29%


Assuming you spend RM2K per month and earn the max cash back of RM100.

Annual spending = RM24,000

Annual Cash Back = RM1,200

Effective Annual Cash Back = Annual Cash Back  – Annual Fee = RM1,030.40

Therefore, Effective Cash Back = RM1,030.40/RM24,000 x 100% = 4.29%

So, if you need a credit card for petrol, my advise is that you go sigh up for the FREE FOR LIFE Maybank Islamic MasterCard and earn yourself effective cash back of 5% with NO MINIMUM spending.

Click here to read my review of the FREE FOR LIFE Maybank Islamic Ikhwan MasterCard Platinum and Gold Review.

As for the contents below, come 1st October 2016, they will be automatically classified as obsolete information, hahaha.


Hon Leong Bank Wise Cash Back Credit Card

The Hong Leong Bank WISE Visa Cash Back Credit Card is fantastic if you can satisfy the requirement of 10X minimum RM50 swipes as you will then be entitled to 10% Cash Back. The annual fee for this card cannot be waived even if you beg like hell. However, you are only entitled for the 10% cash back from 2 categories plus your telco bills. And I bet the wiser people (plus those who have read my previous articles on the HLB WISE) will go for the Gold instead of the Platinum; because the Platinum annual fee is higher and you don’t get any better cash back compared to the Gold! I guess HLB knows that many people “shiok sendiri” when they get to brag that they are holding a Platinum Card; therefore, they will stupidly and willingly pay the higher annual fee, hahaha.

Hong Leong Bank Wise Visa Credit Card Review


And now, I am going to show you how good the HLB WISE credit card is even if you only spend RM660 to RM800 per month with it. The following contents (adjusted for 6% GST) were previously published in another article of mine titled The Best Cash Back Credit Cards Combination 2014:

You can earn about RM50/month with just about RM660/month spending.  Zoom up the image below if you can’t read it:

Hong Leong Bank Wise Cash Back Tutorial

In Example No.1 – all you have to do is split your current transactions to just above RM50, so that you get minimum 10 x RM50 transactions with the HLB WISE in order for you to be eligible for the 10% cash back for the 2 categories selected. Say if you have been pumping RM80 petrol a week (4 times a month), you have to change the way you pump where you need to stop the pump once you hit above RM50. And if you were doing your groceries every fortnight, you have to go more often too, i.e. 5 times a month instead of twice.

So with just RM660 spent on your petrol and groceries with a mobile phone bill, you will earn RM66 a month in cash back with the HLB WISE. Now, I have pointed out many times to you that the HLB WISE has an annual fee. Therefore, the effective cash back for this example works out to be RM792 (RM66 x 12) less RM169.60 (WISE Gold Card Annual Fee including 6% GST)) = RM622.40/year or RM51.86/month which is way better than the previous once upon a time must have credit cards – Maybank 2 Cards AMEX or OCBC Titanium MasterCard where the monthly cash back cap is RM50 (and that’s with RM1K spending).

Example No.2 – now, some of you may say, too freaking troublesome to go split the transactions. Well, you still can earn RM50 cash back but you will need to sacrifice earning nothing from a few transactions. Call them sacrificial lambs.

So in Example 2 – the total number of transactions from your petrol, groceries and mobile phone bill adds up to 8, which means you need 2 more transactions (minimum RM50) so that you can enjoy the 10% cash rebate for your major expenses. These 2 transactions can be for anything. And here is an example, say you are a smoker like me, instead of you buying a pack a day, go buy 5 packs or even 10 packs one go at TESCO. See, no need to spend any extra from what you are spending now to enjoy 10% cash rebate from your major expenses. And guess what, since you’re getting the fags at TESCO, you might even earn 10% cash back!

Back to Example No.2, let’s say the two extra transactions earn you 0% cash back and now the total amount charged to the HLB WISE is RM800. The effective cash back you earn is still the same as in Example No.1, i.e. RM622.40/year, since the 10% cash back is limited to the 2 selected category plus mobile. And guess what, you are still earning more compared to the previous Maybank 2 Cards AMEX and OCBC TMC 🙂


Below contents is a reply to a LYN member question – posted by a “Staff” of LYN by the nickname of fruitie which will teach you how to earn 10% cash back with the HLB WISE for your Astro, Unifi and Touch n Go top up:

For Wise and I noticed you are working in KL Sentral, great, because I work here too and you can always drop by Sam’s Groceria to reload TnG and pay your bills. Remember to choose Groceries category.

For my Wise, I only choose utilities and groceries.

Utilities category is only TNB and Syabas. UniFi is not but you can pay in Sam’s which I’m doing as well.

In short: UniFi, Telekom, Astro can be paid via ePay and TnG can be reloaded in Sam’s. Split the payment to RM 50 per transaction and TnG not worth to split because each transaction incurs RM 0.53 of service charge. So, I always reload RM 100 or RM 200 one shot.

For Maxis, just use Maxis Pay and it will be under Mobile category and split into three payments.

So from what fruitie posted above, you may (I am not sure, you got to go try it yourself) get 10% cash back with the HLB WISE credit card under the Groceries category for your Unifi, Astro and Touch n Go at Sam’s Groceria.

And like I mentioned above in Example No.2, you may also get 10% cash back for cigarettes when you are doing your groceries 🙂


This review is freaking short, hahaha.

Once again, you need to swipe minimum 10 x RM50 in order to be eligible for 10% cash back on the 2 categories selected. Mobile phone bill is automatically  entitled to 10% cash back.

Hong Leong Bank will not waive the annual fee. But with monthly cash back cap of RM100 (good for up to RM1K spending a month on the 2 selected categories plus telco bill), even after deducting the annual fee for the WISE Gold credit card, you will still get more than 5% cash back with minimum spending of RM500/month (10 x RM50).

And assuming you do spend exactly RM1K every month and earn the RM10/month cash back, after deducting the annual fee od RM169.60, you can earn RM1030.40 per year in cash back which works out to Effective Cash Back of  8.58%

And you do not need a high credit limit for the HLB Wise since you won’t earn a sen more in cash back once you hit the cap of RM100. Therefore, there is really no point in getting the Platinum and pay more in annual fee which will reduce the Effective Cash Back you can earn.

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