Category Archives: Credit Cards

STANDARD CHARTERED JUST ONE PLATINUM & GOLD CASH BACK MASTERCARD REVIEW 2018

 Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lesson No.10 & No.11

Before you read the contents of this review, it is imperative you start from the very beginning, i.e. take My FREE Credit Card Tutorial 2018 followed by Lesson No.1 to No.9 listed in my CASH BACK Page.

If you fail/refuse to follow the above recommendation, you may be blur as to what I am about to present below.

Once again I will combine 2 cards into one post. The Standard Chartered Bank Cash Back credit cards below were highlighted to me by my Friends/Followers and they are actually pretty good depending on your needs.

Standard Chartered Bank Just One Platinum MasterCard Review – Lesson No.10

Standard Chartered Bank Jusr One Review 2018

The StanChart Just One Platinum is an entry level credit card where one only needs RM24K p.a. income, which is good. BUT the annual fee is RM265! Annual Fee of RM265 for an Entry Level credit  card?!! The good news is, effective 18 August 2018, the annual fee will be waived if you spend RM20K per year with it.

Wait! Read the above paragraph again…. minimum income requirement RM24K to be eligible for the SCB Just One MasterCard but in order to get the annual fee auto waived we need to spend RM20K!!! WTF. How does one earning RM24K p.a. able to spend RM20K per year with a credit card? If SCB really wants to be sincere, they should set the spending criteria for the annual fee to be waived at a more reasonable amount, for example RM5K or swipe 12X per year. So, this card is only for those who can spend RM20K, to be more exact RM30K per year and you will find out why very soon.

StanChart advertised that you will get up to 15% cash back with the Just One Platinum – this is pure bull shit. The maximum cash back you can earn from the Just One Platinum is 3.4%.

CASH BACK MECHANISM

The Cash Back you can earn from the Just One Plat is based on tiers. Below contents are copied (screenshot) from SCB website and my comments are in red:

Standard Chartered Bank Jusr One Cash Back Tiers

If you refer to the above, you can observe that the Just one Platinum is only good if you spend exactly RM2.5K and earn 3.4% in cash back. Any less and you would end up earning close to 1% cash back.

All you need to know is that you are entitled to the so called  “15%” cash back for Auto Bill Payments, Online and Petrol. Oh, I should also highlight a very important fact – Government and Charity related transactions are not counted towards the minimum spend of RM2,500 to be eligible for the max cash back of RM85.

So What is Auto Bill? The following clause was copied from SCB Just One Plat Terms and Conditions:

Auto bill spend

Your database which is kept by the bank and MasterCard would be use to defined auto bill spend**. Auto bill comprises of recurring bill payment from Insurance, Telco and Utilities as defined in Further Information section below.

From the above clause, your auto debit monthly insurance premiums should be eligible for the bull shit 15% cash back (max effective cash back you can earn is 3.4%). And best if you transact exactly RM2.5K per month, not a sen more or not a sen less to maximize your cash back % returns.

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Hong Leong Bank Wise Cash Back Visa Credit Card Review 2018

 Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lesson No.12

Before you read the contents of this review, it is imperative you start from the very beginning, i.e. take My FREE Credit Card Tutorial 2018 followed by Lesson No.1 to No.11 listed in my CASH BACK Page.

If you fail/refuse to follow the above recommendation, you may be blur as to what I am about to present below.

Hong Leong Bank WISE Cash Back Visa Review

Hon Leong Bank Wise Cash Back Credit Card

Hong Leong Bank advertised that this card earns you 10% cash back. Well, it was true years ago but it is no longer the case since 2016.

The Hong Leong Bank WISE Visa Cash Back Credit Card is not for everyone but for those who can meticulously keep track of every sen they spend with a credit card. The benefit of the HLB Wise is that the cash back is capped at RM100 per month versus most other credit cards where it is capped at RM5- per month.

You are only entitled to the 10% cash back from 2 categories plus your telco bills. If you have been maxing out the cash back cap of your other cash back credit cards (as mentioned in Lessons No.1 to No.10) and need another credit card for spending of minimum RM2K per month at the merchants listed below, then the HLB Wise may be a good option:

Hong Leong Bank Wise Visa Merchant List

If you refer to the above merchant list, it is interesting to note that most of them accept American Express, which means you can get guaranteed 5% cash back with any type of transactions including Government on weekends with the wonderful Maybank 2 Gold/Platinum Cards mentioned in My Credit Card Tutorial CC 101 PLUS another 1% cash back equivalent with  5X Treats Points when you redeem for cash vouchers.

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Hong Leong Bank Essential Visa and Fortune Visa Cash Back Credit Card Review 2018

Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lessons No.8 & No.9

In this post I will review both the Hong Leong Bank Essential Cash Back Visa and Hong Leong Bank Fortune Cash Back Visa for your easy comparison.

Hong Leong Bank Essential Cash Back Visa Credit Card – Lesson No.8

 

Hong Leong Bank Essential Visa Review 2018

Hong Leong Bank Essential Visa (minimum annual income requirement RM24K/year) FREE FOR LIFE with minimum 12 swipes per year. Revised Cash Back Mechanism effective 2016 – UNLIMITED 0.6% Cash Back for Insurance. Other transactions except petrol  – 0.6% cash back for first RM5K and UNLIMITED 1% cash back for spending above RM5,000.

And please note, the Hong Leong Bank Essential Visa does not earn you cash back from Government, JomPay and Petrol transactions. And petrol is an essential expenses!!!

From the above, one only earns 0.6% cash back for spending up to RM5K with the HLB Essential. If you do spend RM1K to RM3K per month, the Alliance Bank You:nique Cash Rebate MasterCard (minimum income RM24K p.a.) may be a better option.

The Alliance You:nique Cash Rebate MasterCard earns you up to 1.6% cash back for spending up to RM3K (including petrol and insurance).

Alliance Younique

But there is even a better option if you need a card for spending up to RM1.5K where you will earn higher % in cash back and I will present to you soon in Lessons No.10 & No.11.

Hong Leong Bank Fortune Cash Back Visa Credit Card – Lesson No.9

Now, here is the joke, Hong Leong Bank does offer a credit card called Fortune Cash Back Visa that earns you 1% cash back including transactions related to Petrol and Insurance!!! And the minimum income to qualify this card also starts at RM24K. So why the heck is anyone still holding the HLB Essential Visa?

Hong Leong Bank Fortune Visa Review 2018

However, the 1% cash back is capped at RM50 or good for up to RM5K spending per month. Once again Government and JomPay transactions are not entitled to the cash back with the Fortune Visa.

If you do really spend more than RM5K per month, you should be collecting Airmiles (Lessons to be presented in February & March 2018) and fly Business Class for FREE instead of earning miserable 1% or even 2% in cash back!!! But for whatever reasons you prefer not to fly Business Class for FREE and still prefer cold hard cash, the Hong Leong Bank Fortune Cash Back Visa does reward you with Bonus Cash (in addition to the 1% cash back) if you spend RM38K with it:

HLB Fortune Visa Bonus Cash

From the above, iIf one spends exactly RM68K (i.e. exactly RM5K for 11 months to earn max monthly cash back of RM50 and on one particular month spent RM13K but only earning RM50 in cash back) with the HLB Fortune, he/she will then earn bonus cash of RM880. Therefore the effective cash back works out to 2.17% [(RM600+RM880)/RM68,000].

HLB Fortune example

The Hong Leong Bank Fortune Cash Back Visa is good for those who know exactly how much they will be spending with their credit cards. But in order to to maximize the effective % cash back, they must burn up some brain cells like i did for the above paragraph calculations, hahaha.

One thing for sure is, the HLB Fortune Visa may be good for those with high insurance premiums or even Insurance Agents who loves CASH instead of flying Business Class for FREE, hahaha.

Click here for more lessons on Malaysia Best Cash Back Credit Cards 2018

GenX 25 Another Personal Financial Tutorial by GenX

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CIMB Cash Rebate Platinum MasterCard Review 2018

 Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lesson No.5

Before you read the contents of this review, it is imperative you start from the very beginning, i.e. take My FREE Credit Card Tutorial 2018 followed by Lesson No.1 to No.4 listed in my CASH BACK Page.

If you fail/refuse to follow the above recommendation, you may be blur as to what I am about to present below.

CIMB Cash Rebate Platinum MasterCard Review

To qualify for this card, all you need is an income of minimum RM24K p.a. WOW! One can get a Platinum credit card from CIMB with income less than RM30K p.a. but that’s not the case with Maybank where one can’t even qualify for an Entry Level Gold Card.

Anyway, the labels Gold, Platinum, Visa Signature, Visa Infinite or World MasterCard Elite are for those who shiok sendiri, to the extend some are willing to pay the annual fees. The smart ones, like you and I, don’t give a damn if a credit card is labeled as Gold or Platinum or whatever, more importantly is that the card must be FREE FOR LIFE and earn us maximum FREE Pocket Money or fastest way to accumulate Airmiles.

Of course, it is better still if our FREE FOR LIFE credit cards offer FREE entries to airport lounges without us spending a sen with the card (this will be covered in your next coming Lesson No.6 & 7).

But, before we jump the gun, today I will present to you another FREE FOR LIFE without any conditions credit card that may be an excellent Standby Credit Card – CIMB Cash Rebate Platinum MasterCard.

Below contents were copied from CIMB website:

CIMB Cash REbate Benefits

  1. 5% Cash Rebate for statement balance RM3,000 and above. 2% Cash Rebate for statement balance below RM3,000. Cash rebate is capped at RM30 per month per card.
  2. 2% Cash rebate is capped at RM30 per month per card.
  3. Unlimited cash rebate on other retail and online spend.
  4. Mobile and Utility Bill Payment via Standing Instruction only.

CIMB Cash REbate Benefits 2

My comments:

This card is basically useless as it earns us a miserable 0.2% cash back except for transactions related to Cinema, Petrol, Groceries, Mobile, Utilities and Overseas.

5% cash back is capped at RM30. But, we need to spend RM3K to qualify for the 5% cash back. Let’s see, if I spend RM3K and I get back RM30, isn’t that equivalent to 1%??? What bull shit is this? We shall forget about this 5% cash back thingy.

2% cash back for Cinema, Petrol, Groceries, Utilities, Mobile and Foreign Currency is also capped at RM30. Or in other words, good for up to RM1,500 spending in these said categories.

So from the above, basically the CIMB Cash Rebate is a pretty good card for overseas face to face and online transactions, i.e. non Ringgit Malaysia transactions; BUT good for up to RM1,500 after conversion.

Talking about MYR, sometimes when we are overseas, we are able to convert the payment to Ringgit Malaysia, I would suggest you choose the currency of the country you are in instead of MYR.

So, is the CIMB Cash Rebate any good? Well, i did start my comment off by saying this card is useless BUT then again it is FREE FOR LIFE without any conditions. And if you have been a Follower of mine for years, you know lah my motto – FREE IS THE BEST!

In the previous Lessons No. 3 & 4, I have mentioned that you should hold ALL the Entry Level cards reviewed prior to now, i.e. Maybank 2 Gold/Platinum Cards, Maybank Ikhwan Petronas Gold/Platinum, Maybank Ikhwan MasterCard Gold/Platinum and Public Bank Quantum Visa and MasterCard; because based on these said cards, you should be able to earn 5% cash back from your related essential expenses required for survival. And you can’t go wrong with any of them as they are FREE FOR LIFE without any conditions.

So if you want a standby FREE FOR LIFE Credit Card with perpetual annual fee waiver where you do not need to spend a sen with it, then the CIMB Cash Rebate Credit Card is very good, especially the 2% cash back for foreign currency transactions. OR if you want to shiok sendiri by holding a Platinum credit card, the CIMB Cash Rebate is a fantastic opportunity to brag to your friends, hahaha.

Now, for those of you earning less than RM30K p.a. or even RM36K p.a., it means you can’t qualify for any Maybank credit card and the Public Bank Quantum Card respectively. This CIMB Cash Rebate may or may not be the best credit card for you. You can consider the CIMB Petronas credit card which offers 3% cash back for petrol. Check out my next Lesson No.6 on AEON Big Gold Visa credit card where I will also touch on the AEON Big Classic credit card which may be a better alternative to the CIMB Cash Rebate MasterCard.

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GenX 25 Another Personal Financial Tutorial by GenX

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Maybank Islamic Ikhwan Petronas Visa and MasterCard Gold & Platinum Review 2018

 Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lesson No.3 & No.4

I will combine the Maybank Islamic MasterCard Ikhwan Gold/Platinum and Maybank Islamic Petronas Ikhwan Visa Gold/Platinum Credit Cards into a single review as both these cards’ benefits are pretty straight forward.

Maybank Islamic PETRONAS Ikhwan Visa Gold Card-i – Lesson No.3

This card is FREE FOR LIFE too without any conditions. Once again this is the most important criteria.

And like all Maybank Entry Level credit cards, the minimum income to be eligible for the Maybank Petronas Gold Visa is RM30K p.a.

The main benefit of the Maybank Petronas Gold/Platinum is that the card earns you guaranteed 8% Cash Back at Petronas Stations every Saturday and Sunday. But the monthly cash back cap is also RM50, or in other words, good for up to RM625 at Petronas on weekends which should be more than adequate for most people.

You do earn 1% cash back at Petronas on weekdays and 1X Treats Points for transactions not related to Petronas except for Government Transactios where you earn nothing.

Above is all you basically need to know about the Maybank Petronas Credit Card, hahaha.

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SMS ALERT UPDATES 2018

In My Credit Card Tutorial 2018, published on 29 December 2017, I have recommended that you guys reset the SMS Alert Default value to RM1.

I remind you, it is imperative that you follow my advise above because my Maybank 2 Platinum Cards AMEX and Maybank 2 Cards AMEX Reserve were used for authorized online transactions. The amount for each transaction was not huge, less than USD50. Actually for my AMEX Reserve, the amount was USD1!!!

But because I had reset all my Maybank Credit Cards’ SMS Default Value to RM1, I receive SMS notifications for most of my transactions and by fraudsters too.

After I posted my Credit Card Tutorial 2018, two persons commented at my Facebook which I thought I should share with you guys.

SMS ALERT FOR MAYBANK CREDIT CARDS WHERE PAYMENT WERE MADE VIA PAYWAVE

Below is what Mr. Lee Derk Huan commented at my FB post on 29 December 2017:

Lee Derk Huan FB Comment

Well, i did use my Maybank Visa Infinite to pay for lunch via Paywave on 31st December 2017 at The Gardens Mall. After a couple of days I remembered what Mr. Lee mentioned about SMS Alert relating to Maybank’s credit cards. So, I checked my phone and true enough there was no SMS from Maybank for the Paywave Transaction. However, I did received an SMS Alert from Maybank for a transaction (non-PayWave) made at Jaya Grocer (in The Gardens Mall too, right after lunch about 10 minutes after the PayWave transaction) to purchase the Limited Edition Hennessy XO and VSOP 2018.

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Maybank Visa Signature Barcelona Review 2018 – Malaysia Undisputed Best Cash Back Credit Card for Months of May and August 2018

Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lesson No.2

First and foremost – this card is FREE FOR LIFE without any conditions. This is the most important criteria.

The minimum income to be eligible for this card is RM48K.

This card is a pure cash back credit card that has no other benefits (i.e. no Free Airport Lounge entry). Below contents in point form were copied from Maybank website:

  • 2% Cash back for all purchases all year long (except May and August) and capped at maximum of RM 50 per month.
  • 10% Cash back for all purchases made in the month of May (football season ends) and August (football season begins) and capped at maximum of RM 100 during the specified month.
  • Only transaction amounting RM 1 and above will be awarded cash rebate to customer
  • E- statement – Auto enrolment
  • TreatsPoints is not eligible for this card
    Note: No cash back earned for EzyPay transactions.

My comments:

1. The 2% cash back is pretty good. If you refer to the above, it is stated for ALL PURCHASE. So I read the Terms & Conditions and no where could I find any clause that stipulated that Insurance and Government related transactions are excluded – which is fantastic.

However, the cash back is capped at RM50 per month, which means this card is good for up to RM2500 spending only.

I tell you, the Entry Level Maybank 2 Gold Cards is way better than this card. By spending RM1K with it on Saturdays and Sundays, we can earn RM50 cash back PLUS close to another 1% equivalent cash back based on 5X Treats Points.  Thus, you can earn close to 6% cash back – that is if you can wait until the weekend to swipe your card, hahaha. So for weekdays, the Maybank Barcelona VS is better.

If you have yet to read my latest comments for the Maybank 2 Cards Gold/Platinum for 2018, please click here to read my first credit card review for 2018 – AMEX Gold Cash Back Credit Card versus Maybank 2 Gold Cards AMEX.

However, you may argue, what if the merchant does not accept AMEX, then you are right, the Maybank FC Barcelona is a zillion times better than the Maybank 2 Gold Cards on weekends, hahaha. What I will say is that the Maybank FC Barcelona is a great combination to have with the Maybank 2 Gold/Platinum Cards 🙂

Then again, there are other cash back Visa & MasterCard credit cards where you can earn more than 2% cash back for selected categories, i.e. the FREE FOR LIFE Public Bank Quantum Cards (mentioned in my Credit Card Tutorial), Public Bank Visa Signature,  Maybank Ikhwan MasterCard and even Standard Chartered Bank Just One Platinum.

2. 10% Cash Back for May and August capped at RM100 is fantastic. No other cash back credit card can beat this said real 10% guaranteed cash back. There is nothing in the T&C that states Government related transactions are excluded from the cash back, you should be entitled to the 10% cash back.

Let me elaborate what the above means. Most credit cards nowadays do not reward us for any transactions related to Government. With the FC Barcelona Visa Signature, we can earn 10% Cash Back from the following transactions:

In the month of MAY, we can earn 10% cash back from:

  • Police and Local Council Traffic Summons. If you can wait and not be brought to court, hahaha.
  • JPJ – Road Tax
  • Quit Rent (Cukai Tanah at Pejabat Tanah Dearah). This is really fantastic as AMEX is not welcome here.
  • IWK – you better call their Customer Service if you have not been paying any IWK bills for years and be shocked with how much you owe them, hahaha.

In the month of AUGUST, we can earn 10% cash back from:

  • Police and Local Council Traffic Summons. Once again, if you can wait and not be brought to court, hahaha.
  • JPJ – Road Tax
  • Assessments (Cukai Pintu at Local Councils).
  • IWK.

For other months, Traffic Police Stations, JPJ Main Offices and Local Councils accept AMEX. So, if you transact at these said places on Saturdays with the wonderful Maybank 2 Gold/Platinum Cards AMEX, you can earn yourself 5% cash back which is better than the Maybank FC Barcelona’s 2% Cash Back.

But you know lah, I’m kiasu. So, I called Maybank Customer Service to ask if government transactions are entitled to the 10% Cash Back in May and August and the girl told me to wait while she checked. After a few minutes, the CS representative told me YES – for any PURCHASE! Please note she said PURCHASE. Is paying tax (e.g. Quit Rent) a purchase? Anyway, I think we should be entitled to the 10% cash back for Government related transactions as I could not find any exclusion clause in the T&C for the Maybank FCB Visa Signature.

Update – below comment by Nelson Lai at my Facebook Post minutes after I posted this review.

FB Comment Nelson Lai

CONCLUSION

Basically the Maybank FC Barcelona Visa Signature is fantastic for the months of May and August as you are guaranteed to earn 10% in cash back from ALL your transactions up to RM1K spending only. So, you still need to plan and keep track of your spending in both these months because once you spent RM1K, anything more you earn nothing!

For other months, you could probably earn more in cash back from your essential expenses using other credit cards based on many different categories. So if you are one of those who are not bothered to use your brain or find it a hassle to have many credit cards in your wallet to earn more in cash back from different categories (i.e. Dining, Petrol, Online, Groceries, Telcos, etc), then the Maybank FC Barcelona may be good, hahaha. Having said this, the Maybank FC Barcelona is great for Government (e.g. Road Tax, Police Traffic Summons, Local Councils, IWK, etc) and Insurance related transactions as many credit cards nowadays earn you nothing from them.

In Conclusion the FREE FOR LIFE Maybank FC Barcelona is a great combination to have with the FREE FOR LIFE Maybank 2 Gold/Platinum Cards and FREE FOR LIFE Public Bank Quantum Cards.

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American Express Cash Back Gold Credit Card Review 2018

 Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

Malaysia Best Cash Back Credit Cards 2018 – Lesson No.1

Hi guys, this is my first credit card review for 2018. Many people messaged me about this card when it was launched a few months back. And my wife, who holds a Principal Maybank 2 Platinum Cards, received a call from Maybank offering her this card too.

Basically, this is another entry level credit card by Maybank where the annual income requirement is RM30K p.a.

The first year annual fee of RM70 will be waived. For subsequent years, my wife was told that the annual fee will be waived if she spends RM10K per year with it; but it is not automatic, she still needs to call AMEX Customer Service and beg for it. However, the good thing is,  you can contact AMEX Customer Service at their Toll Free Line – AMEX is the only card issuer in Malaysia that offers Toll Free calls for an entry level credit card.

So what’s good about the AMEX Gold Cash Back Credit Card?

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My Credit Cards 2018 – Malaysia Best FREE FOR LIFE Cards

Another Personal Finance tutorial by GenX @ http://www.GenXGenYGenZ.com

My Best Credit Cards 2018 600

In my FREE Credit Card Tutorial 2018 – CC101 (click here to read it if you have not), the first lesson I taught you was – Get FREE FOR LIFE CREDIT CARDS.

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