Last year many cash back credit cards fans were devastated when Maybank revised the cash back for their FC Barcelona to 1%. Well, Stand Chart just announced that they will copy Maybank where effective 1st February, the Standard Chartered Bank Liverpool MasterCard will also only reward the card holder 1% cash back!!!
Below is the announcement by Standard Chartered Bank:
Revision to the Consolidated Credit Card Terms (“Terms”) effective 1 February 2021
For Liverpool FC Cashback credit card:
We give you 1% Cashback on your Cashback transactions per month in retail purchases (local and international) on your Liverpool FC Cashback credit card as shown in your credit card statement, subject to a cap of RM 50 per
For JustOne Platinum Mastercard credit card:
a) Autobill payments, online purchases and petrol cashback is capped at RM20 each, subject to the cashback cap in each spend tier.
b)Transactions for Government, Charity and Professional Services (including but not limited to JomPAY, FPX and PayPal) categories will be excluded from Retail Purchases and will not earn cashback.
Well the SCB Liverpool MasterCard will be similar to Maybank FC Barcelona Visa Signature where both will earn the cardholder 1% cash back. But unlike the MBB FCV VS which is FREE FOR LIFE, the SCB Liverpool has annual fees! So you can terminate your SCB Liverpool MasterCard once the January 2021 cash back is credited into you account!
As for the JustOne Platinum, if you read carefully, it is stated that Autobill payments, online purchases and petrol cashback is capped at RM20 each.
Let’s look at the highest tier TnC:
(c) Cashback of 15% on Petrol, Online & Auto Bill and 0.2% on all other retail purchases when you spend a minimum of RM2,500 or more per calendar month in retail purchases (local and international) on your JustOne Platinum credit card, subject to a cap of RM60 per calendar.
So assuming you do earn 15% each for Petrol, Online and AutoBill where each cash back is capped at RM20, it means by you spending RM133.33 on each item, you would have hit the max cash back for each category. But you need to spend RM2500 per month where the total cash back is capped at RM60, which means you get effective 2.4% cash back.
And if you are thinking of getting the SCB Smart Visa, click here to read my review.
So which credit card to get? Well, it depends on your spending pattern. Click here to my Best Credit Card Page to learn more 🙂