The Best Cash Back Credit Card Combo in Malaysia – Part II

An article by Mr. Jerie Lim, Guest Columnist @ http://www.GenXGenYGenZ.com

Before you proceed reading this article/tutorial by my guest columnist, Mr. Jerie Lim, please click here to read my article titled The Best Cash Back Credit Card Combo – AEON Credit Card Plus Online Cash Back Cards.

After I posted the above mentioned article, Mr. Jerie Lim, Mr.Keat Wei, Mr. JS Tan and Mr. Teong Sin Sim took the trouble to comment on my Facebook post that on top of the 2% fee mentioned in my article, there are 6% GST and RM1.50 fee! Mr. Jerie Lim further informed me that we can earn more cash back with the CIMB Cash Rebate MasterCard and was kind enough to agree to my request to write an article for the benefit of all.

In this article, Mr. Jerie Lim will present to you a detailed and comprehensive tutorial on using another cash back credit card to pay your AEON credit card bill and what are the fees involved. And Mr. Jerie Lim will even teach you how to earn more in cash back with this method.

Without further ado, it is my utmost pleasure to present to you my latest guest columnist, Mr. Jerie Lim’s article:

The Best Cash Back Credit Card Combo by Jerie Lim 2

A WALKTHROUGH OF AEON CARD PLUS ONLINE CASHBACK CARD PAYMENT

 As most regular reader of this site knows, back in March some AEON card users begin experimenting on PosOnline a new payment channel for AEON credit cards. As always, good thing must share right. So, thanks to GenXGenYGenZ for sharing this info with his fellow loyal readers of this new payment method.

This month, as confirmation of cash back from various different online cash back cards starts trickling in; we will take a look more closely on various fees involved. So here is a short walkthrough of AEON card payment via PosOnline.

Firstly let us take a closer look at the fees involved.

2% Convenience Fee Charges for Credit Card transaction by PosOnline

 Stated in POSOnline website, there will be a 2% convenience fee charge to all credit card transaction including the one we will be doing for AEON card payment.

Are there any additional charges?

2% will be charged upon credit card usage.

https://www.posonline.com.my/ecommerce/New1/faq.htm

The fee is quite steep if looked on its own. Nobody in their right mind would actually be willing to pay an additional 2% fee to pay a credit card payment. On top of the 2% fee, we have got to pay 6% GST too! But lucky for us this is not the case now that you can offset it with another card’s cash back.

For example:

RM900 + (2% + 0.6% GST) = RM900 + RM19.08 = RM919.08

An example of a Final Invoice will look like this. The charge will be listed as “*Convenience Fee Charges – Credit Card

AEON Credit Card 1 by Jerie Lim


RM1.50 Fee Charges by AEON

If you’ve tried paying AEON card either via CimbClicks or M2U via Bill Payment method, you would notice that there is usually a fee charged. This is also the case here. There would be an additional RM1.50 fee for each transaction. This will further drag down the final effective rate of the final cash back.

Prior to April the RM1.50 are added onto the payment made before the 2% and GST calculation is added. Starting from April onwards this RM1.50 is deducted on AEON side instead. So if you intend to pay for example RM900, please remember to add on an additional RM1.50 into the amount to make it RM901.50. The final amount that will appear as paid to AEON on AEON website would revert back as RM900.

Below is an example prior to April for the payment where the RM1.50 is “Auto Added”

AEON Credit Card 2 by Jerie Lim

 

From April onwards you have to do this manually. Here is an example of a transaction made on April. As you can see, the posted amount is missing the RM1.50

 Payment made to AEON: AEON Credit Card 3 by Jerie Lim.jpg

Payment received by AEON:AEON Credit Card 4 by Jerie Lim

 

 

A Walkthrough of PayOnline for AEON credit cards

Firstly, you need to go under “Bill Registration” and add AEON credit card as one of the “Registered Payment”. Once that is done, you can begin the payment process.

STEP 1 – Select the registered AEON payment, click Next

AEON Credit Card 5 by Jerie Lim

Step 2 – Enter your AEON credit card number in “Account No”. Fill you IC number and Amount appropriately. Click “Add to bill folder”

Note the RM1.50 warning given below. There is also a total limit of RM2,000 cap per day from PosOnline side

AEON Credit Card 6 by Jerie Lim

 

STEP 3 – You will land to the Summary page. Click “Proceed to Checkout” if you are done, or you may continue adding other transactions.

AEON Credit Card 7 by Jerie Lim

 

STEP 4 – Here you can see another warning that all credit card payment will be charged a 2% convenience fee.

Select “Credit Card” as Payment channels and Submit

AEON Credit Card 8 by Jerie Lim

 

STEP 5 – Enter your Online Cash Back Credit Card information. Click Pay Now once done.

AEON Credit Card 9 by Jerie Lim

STEP 6 – After you have entered your TAC info, you will probably get a message like below: AEON Credit Card 10 by Jerie Lim

Now, go to side menu “View Transaction History” and find the latest transaction you’ve just made. The status will show as “Pending transaction”. Click the Transaction ID to see more detail.

AEON Credit Card 11 by Jerie Lim

STEP 7 –  Click “Get Status” and you should see if the transaction fail or succeed.

Congratulation…

AEON Credit Card 12 by Jerie Lim


MAXIMIZE CASH BACK FROM CIMB CASH REBATE MASTERCARD

 Thanks to chiahau from LYN.net for confirming this info.

 If you are still reading, here is a bonus tip. CIMB cash back card allocates different cash rebate pool for each principal and two supplementary cards (max). So that would be a maximum of RM30 from online transaction for each card for a total of RM90 a month. That would be RM1080 a year! Other cards such as UOB VOX only gives a max of RM600

Here is a table shared from the dedicated credit card enthusiast at lowyat.net CIMB credit card thread. It clearly illustrates the cash back breakdown.

AEON Credit Card 13 by Jerie Lim

 

CONCLUSION

 With the lack of a dependable card for general uses, many users have to resort to such creative way as describe here to earn a meaningful amount of cash back. We long for the good old days of OCBC Titanium, and the soon to be discontinued AEON Watami. But with the ongoing changes in banking structures related to credit card, this is a dream that might not happen anytime soon.

So, I hope you enjoy this guide (*while it last). Thank you.

An article/tutorial by Jerie Lim

Below are comments by GenX:

WOW! We can get RM1800 per year in cash back with the CIMB Cash Rebate MasterCard. Add this RM1800 cash back per year to UOB VOX RM50 cash back per month plus Public Bank Visa Signature RM50 cash Back per month, we can get a total of RM3000 cash back per year. For the  AEON + UOB VOX/PBB VS/CIMB CR MC Combo with PosOnline, you can earn up to RM2280 per year for any type of transactions including Insurance, Education, Utilities, Government, PTPTN loan and even your child’s SSPN Education Investment scheme too!

THANK YOU Mr. Jerie Lim for taking the time to write your fabulous article and selflessly sharing it with everyone.

Once again, I would like to thank Ms. Sherine Lee, Mr. Jerie Lim, Mr. Lou Jyh Haur. kelvinlzy of LYNMr.Keat Wei, Mr. JS Tan and Mr. Teong Sin Sim for their contribution in assisting all Malaysians to earn more cash back from their Essential Expenses to cope with the high cost of living.

I tell you, my many iFriends/readers selflessly share good stuff that benefit everyone. Not only that, when I posted about me being shiok sendiri at my Facebook Page because Mr. K C Lau Like GenX GenY GenZ, I was extremely thrilled that more than 60 of you, my iFriends Like the post even though it did not contain any info that benefit you. This shows me that you guys are happy for me and support me. And this just proves that I was right when I said that you guys, my iFriends are great people 🙂

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