INTRODUCTION
The Maybank Visa Infinite and subsequently the Maybank 2 Cards Premier where the best credit cards to accumulate air miles when it was first launched. But this is now history!
The Maybank 2 Cards Premier is at best mediocre today and it is all Maybank’s own doing where they had 3 strikes in a row.
Strike 1 – Effective 1st December 2023
Back in November 2023, I warned all that the AMEX Reserve will no longer be the Best Credit Card for Air Miles.
Strike 2 – Effective 12th April 2024
Then in March 2024, I warned all not to be greedy or be calculative (wanting to prolong the expiry of air miles by converting later) but to convert their Treats Points to Air Miles before 12th April 2024. Effective 12th April 2024, the total combined monthly 100,000,000 air miles quota set by Maybank is ridiculous and in Page 3 of the said article below, I showed calculations to prove to all of you just how absurd Maybank has become.
Strike 3 – May 2024 Air Miles Conversion Inflated
Then on 30th April 2024, Maybank announced at M2U changes to the conversion rates of Treats Points to Air Miles for most of their credit cards effective 22nd May 2024. Technically giving us more than 21 days notice but I warned in the article stated below that one is a fool if they think they have until 21st May 2024 to convert their Treats Points to Air Miles…… this is because in my article back in March 2024 I already showed all how ridiculous is the Maybank’s total combined 100,000,000 air miles for all card holders! And true enough, even before noon 1st May 2024, the 100,000,000 monthly air miles quota habis!
So with the above, Maybank has Strike Out their own Maybank 2 Cards Premier which is now just plain mediocre.
I have shown you previously with the conversion rates effective 22nd May 2024 (but since May quota habis, it is immediate), we will be earning 1 air mile for every RM5 and RM2 for Local (except for eWallets, Utilities, Insurance, Government and Jompay/FPX) and Overseas transactions respectively.
Therefore, you will need to get other cards and I bet the first card that comes into your mind is the Maybank AMEX KrisFlyer Platinum. Yes, the AMEX KF Platinum is good for now but I won’t be surprise if Maybank also revised the conversion rates soon.
In respect to the above, the Maybank Singapore Airlines KrisFlyer American Express® Platinum for now is definitely good for Local Spending compared to Maybank 2 Cards Premier but when it comes to Overseas transactions it is just as mediocre as the Maybank 2 Cards Premier where we also earn 1 air mile for every RM2 spent.
If I was the Head of Maybank Credit Card Department, I will allow everyone who has the Maybank 2 Cards Premier time to apply for the Maybank Singapore Airlines KrisFlyer American Express® Platinum and next year revised the the conversion rates, hahaha.
You think Maybank cares if the Maybank 2 Cards Premier is now just a mediocre card? Well, IMHO, they are not bothered because they would have more than enough Maybank 2 Cards Premier cardholders who are in debt and paying interest to Maybank – which is the main purpose why any card issuer launch a new credit card.
I have mentioned many times before, a card issuer will launch a new credit cards with relatively good benefits to entice people to sign up for the card(s). Once the card issuer have satisfied their goal of X numbers of cardholders not able to settle their credit card Outstanding Balance in full prior to the Due Date, and thus making the card issuer richer from the interest imposed, they will inflate/revise the card benefits. Another good example is the Alliance Bank VI and Platinum where it first offered 6K TBP = 1K Enrich Points when it was firs relaunched but today they have inflated the conversion rate to 15K TBP = 1K Enrich Points.
Another good example was CIMB Travel World Elite where they also enticed new sign ups by offering 10X Bonus Points for Local Transactions but midway before even the offer was to expire on 31st December 2023, CIMB revised the TnC and imposed all kinds of limits for different categories because they were losing money as many were able to earn 10X Bonus Points but at the same time paying their credit card Outstanding Balance in full and therefore CIMB not making money, hahaha.
And maybe, I don’t know but speculating, because of our weak Ringgit and/or inflation, the price Maybank and other banks need to purchase 1 air mile have also increased and therefore the banks have no choice but to pass the cost to their cardholders.
Well, nothing last forever and it is time to say Thank You to Maybank and Good Bye to their Maybank 2 Cards Premier and other credit cards that only earn us Treats Points.
Update – YouTube Video to show just how mediocre Maybank Premier Credit Cards are for Local Spending 🙂
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