Tag Archives: Best Cash Back Credit Card

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.

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

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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?

Continue reading

The Best Top 10 Credit Card in Malaysia 2017

Ladies and Gentlemen, firstly, I would like to thank you for your past support in reading my Top 10 Credit Cards in Malaysia articles for the past few years.

The Best Top 10 Credit Cards Malaysia 2016 Episode III

If you are new to this blog, click here to read my Top 10 Credit Cards in Malaysia 2016 – Episode III.

Malaysia Best Credit Card Award 2016 450x300

As most of you know, the Maybank 2 Cards Premier Visa Infinite and AMEX Reserve give you the best returns (up to 10% cash back or more) from your credit card usage. If you are not aware, please click here and read my article titled A Little Bit Of This And A Little Bit Of That – Volume II, Chapter 1 to learn more.

Goodbye

And if you are a Follower of mine, you’ll know that back in May 2016 I have announced that I’ll stop blogging, i.e. I will no longer produce new article. However, I may update existing PAGES and articles if I feel the need for it. Click here to read my announcement – My Credit Cards Have Come Full Circle – It’s Time To Move On.

UPDATE FOR 2017

February 2017

Standard Chartered Bank Strikes Back To Reclaim The Title of Ultimate Airport Lounge Credit Card that I Awarded To It Years Ago. Click here to my AIRPORT LOUNGE PAGE to read more.

I also have fantastic news for those who are holding the Maybank 2 Cards Premier. On 8th February 2017, my son was able to use his Supplementary Maybank 2 Cards Premier Visa Infinite to enter KLIA Plaza Premium Lounge for FREE!!!

standard-chartered-bank-visa-infinite-benefits-2017

March 2017

More good news, effective 15th March 2017, the once upon a time Best Credit Card in Malaysia, i.e. Maybank 2 Cards Platinum and Gold will once again reclaim its position as being the Top 3 Best Credit Card in Malaysia!!! This is because the Maybank 2 Cards Gold & Platinum will once again reward the cardholder 5% cashback FOR ALL TYPES OF TRANSACTIONS on weekend!!!

And on top of the 5% cash back for weekend, we also get 5X Treats Points for Petrol every single day for up to RM499 (Maybank revised it from RM300 to RM500 on 27 Feb 2017).

maybank-2-cards-gold-platinum-best-credit-card-2017

maybank-2-cards-gold-platinum-best-credit-card-2017-revised

And effective 15 March 2017, the Best Credit Card for Airmiles in Malaysia, i.e. Maybank 2 Cards Premier Visa Infinite and AMEX Reserve will offer a benefit that no other credit card in Malaysia will be able to beat.

If you did not know, most Visa and MasterCard credit card DO NOT reward you anything when you use it to pay for Petrol. Effective 15 March 2017, the Maybank 2 Cards Premier AMEX Reserve will reward you 5X Treats Points which means we will earn 1 Enrich Mile or KrisFlyer Mile for every Ringgit spent on Petrol!!! Even tho the 5X TP is for up to RM499 (once again, MBB revised it upwards to RM500 from initial announcement of RM300), it is one benefit no other card card match.

maybank-2-cards-premier-best-airmiles-credit-card-2017

maybank-2-cards-premier-best-airmiles-credit-card-2017-revised

So, come 15th March 2017, I guess most of you would agree with me that The Best Credit Card Issuer in Malaysia for 2017 Award should be granted to Maybank once again.It is the only bank that is generous enough to offer you 4 credit cards with minimum 5% cash back for Petrol and Grocery!!!

  1. FREE FOR LIFE Maybank 2 Cards Gold and Platinum – 5% cash back for Petrol and Grocery on Saturday and Sunday. Max cash back per year RM600. You are entitled to 5X Treats Points for Petrol too.
  2. FREE FOR LIFE Maybank Islamic Ikhwan MasterCard Gold and Plaitnum – 5% cash back for Petrol and Grocery on Friday and Saturday. Max cash back per year RM600.
  3. Maybank Visa Signature, annual fee waived with RM30K spending – 5% cash back for Petrol and Grocery EVERYDAY. Max cash back per year RM1,056.
  4. FREE FOR LIFE Maybank Islamic Petronas Ikhwan Visa Gold and Platinum credit card earns you 8% cash back on Saturday and Sunday (max annual cash back RM600).

Therefore, if you hold the above 4 mentioned credit cards, you are entitled to RM2,856 cash back per year from your Petrol and Grocery expenses!!! Please note, the Maybank 2 Cards Gold or Platinum 5% cash back is for ANY TYPE OF TRANSACTIONS. I tell you, Maybank is the only bank in Malaysia that is helping the Rakyat to cope with the ever increasing cost of living. And if you are married, to double the cash back, you apply for the Gold/Platinum (you’re Principal cardholder) and your spouse also at the same time apply for the Gold/Platinum (he/she the Principal cardholder). If both of you (married couple) spend more than RM80K per year, I would recommend that you go read my article on the Maybank 2 Cards Premier and earn yourself FREE Business Class tickets – click here and read my article titled A Little Bit Of This And A Little Bit Of That – Volume II, Chapter 1 to learn more.

Update 17 March 2017

It’s official, effective 15 March 2017, the Maybank 2 Cards Gold or Platinum American Express earn us 5% Cash Back for any type of transactions in Saturday and Sunday. And we are also entitled to 5X TreatsPoints for petrol with the Maybank 2 Cards Gold/Platinum AMEX and Maybank 2 Cards Premier AMEX Reserve.

Maybank SMS Good News 2017

THE BEST CASH BACK CREDIT CARD IN MALAYSIA 2017

With us now entitled to 5% cash back on Saturday and Sunday for any type of transaction with the Maybank 2 Cards Gold or Platinum American Express, it is only fitting that The Best Cash Back Credit Card Award be bestowed to the FREE FOR LIFE Maybank 2 Cards Gold or Platinum. And if you and your spouse both apply separate Principal card, you will then earn a combine up to RM100 cash back per month. That’s up to RM1200 FREE Money per year!!!

In addition to the above, the FREE FOR LIFE Maybank 2 Cards Gold and Platinum American Express earn you 5X Treats Points everyday of the week (excluding Education, Utilities, Insurance, EzyPay and Government Bodeis); therefore it is the No.2 Best Credit Card in Malaysia to accumulate Enrich Miles, Asia Miles, KrisFlyer Miles and AirAsia Big Points.

Maybank 2 Card Gold Platinum Credit Card Benefits 2017 GenX

FYI, the American Express card is welcome at all major Departmental Stores, TESCO, GIANT, Jaya Grocer, Cold Storage, AEON, AirAsia, Malaysia Airlines, Maxis, Telekom, Celcom, Unifi, Guardian, Watson, Poh Kong, Wah Chan, Tomei, Habib, Petron, Petronas, Shell, Alexis, Ippudo Ramen, Tai Thong Group of restaurants, TGIF, Starbucks, Baskin Robbins, Harvey Norman, Courts, Best Denki, 11 St (online shopping), Agoda Dotcom, Booking Dotcom, hotels, high end clubs, luxury brands, BMW, Mercedes Benz, Volvo and etc.

THE BEST CREDIT CARD IN MALAYSIA (and THE WORLD too) FOR ACCUMULATING AIR MILES

If you are able to use credit card for most of your expenses and overseas transactions, the best credit card for accumulating Malaysia Airlines Enrich Miles, Singapore Airlines KrisFlyer Mile and Cathay Pacific Asia Miles is with the Maybank 2 Cards Premier AMEX RESERVE and Visa Infinite.

Maybank 2 Cards Premier Best Credit Card for Air Miles GenX

Basically, you will earn:

5X TreatsPoints for Local and Overseas transactions with the AMEX Reserve.

5X TreatsPoints for Overseas Spending with the Visa Infinite.

2X TreatsPoints for Local Spending with the Visa Infinite.

However, you will only earn 1X TP for both the AMEX Reserve and Visa Infinite for transactions related to Education*, Insurance, Utilities and Maybank EzyPay. AND you will earn ZERO TreatsPoints for Government Bodies related transactions.

* NOTE – For OVERSEAS Tuition Fee, we still earn 5X TreatsPoints. I have been paying my children Australia Tuition Fees and earning 5X TreatsPoints with the Visa Infinite.

So Based on 5X and 2X TreatsPoints, below is what we can earn:

1 Enrich Mile or 1 Asia Mile or 1 Kris Flyer Mile with every RM0.954 spent LOCALLY or Overseas with the Maybank 2 Cards Premier AMEX Reserve. That’s less than RM1 folks.

1 Enrich Mile or 1 Asia Mile or 1 Kris Flyer Mile with every RM0.954 spent Overseas with the Maybank Visa Infinite.

1 Enrich Mile or 1 Asia Mile or 1 Kris Flyer Mile with every RM2.385 spent Locally with the Maybank Visa Infinite.

1 AirAsia BigPoint with every RM1.484 spent with the Maybank AMEX Reserve for both LOCAL and Overseas transactions.

1 AirAsia BigPoint with every RM1.484 spent Overseas with the Maybank Visa Infinite.

1 AirAsia Big Point with every RM3.71 spent Locally with the Maybank Visa Infinite.

*

Update 23 March 2017

ULTRA SHORT REVIEW OF THE PUBLIC BANK QUANTUM VISA & MASTERCARD CASH BACK CREDIT CARD

Public Bank Quantum Visa MasterCard Cash Back Credit Card

Public Bank launched two new credit cards in March called Quantum Visa and MasterCard. According to reports in the media, these new cards are targeted at young people.

Well, the marketing slogan/tag line adopted by Public Bank for these cards is “Live The Moment”. What rubbish, all of you who are reading this are living the moment right now. If one is not living the moment, it means the person is death!!!

The sole objective of Public Bank Quantum Credit Card slogan “Live The Moment” is to subtly imprint into your subconscious mind that if you got no money for some “shiok sendiri” sensation, no worries, swipe the card at that moment and bask in your own temporary happiness moment…… and be abruptly brought back to reality once you get the bill, hahaha.

If you ask me, this Public Bank Quantum Visa & MasterCard is really good for all ages including long time credit card users and not limited to young graduates. Reasons being:

  • Both the Quantum Visa and MasterCard are FREE FOR LIFE without any condition.
  • You get 5% cash back for Entertainment and Departmental Stores with the Quantum Visa capped at RM30 per month.
  • You get 5% cash back for Online and Dining transactions with the Quantum MasterCard capped at RM30 per month.

With the above 3 mentioned items, everyone should go apply for BOTH the Public Bank Quantum Visa and MasterCard. And combining the two cards, we can earn up to RM60 cash back per month.

If you had read the Terms and Conditions, you will know that for any other local transactions, you will only earn 1 VIP Point and ZERO Points for government related and Public Bank portals transactions.

As for the 0% 12 installment plan with minimum purchase of RM1200, well once again I would like to highlight that 0% installment plans are traps to entice you to spend beyond your means (if you do not have cash in hand to pay for it). So for minimum purchase of RM1200 to be eligible for the 0% installment plan, IF you DO NOT have RM1200 (or amount equivalent to the purchase) in your savings account (or can’t even save RM200 per month every month) and you convert your purchase to this plan, all I can say is that credit card is not for you because you are guaranteed to spend more with credit cards and will eventually drown in the shit hole of debt.

Installment Plan Is A TrapIf you are currently finding it hard to survive or cannot even save 10% of your monthly pay, I strongly recommend that you click here and read my article titled 0% Installment Plan IS A TRAP before you go sign up for 0% Installment Plan.

Now, it must be said that unlike Maybank cash back credit cards that earn us cash back from essential expenses (groceries and petrol), the Public Bank Quantum credit cards are more for non-essential expenses except maybe for the 5% Dining portion which can be very good if we are entitled to 5% cash back at McD, haha. Well, I guess the Quantum Visa where we can earn 5% cash back at Departmental Stores is also good when we buy underwear, hahaha.

With the above, I tell you the FREE FOR LIFE Public Bank Quantum Cash Back Credit Cards are really good in complimenting the FREE FOR LIFE Maybank 2 Cards Gold/Platinum where you can earn 5% Cash Back PLUS 5X TreatsPoints for ANY TYPE OF TRANSACTIONS on Saturday and Sunday with the AMEX, cash back capped at RM50 per month. Therefore, with you having these mentioned cards, you can earn up to RM110 in cash back per month. And if your spouse was to apply for his/her own Principal cards, that’s up to RM220 per month in cash back!!!

However, if you are currently holding a Maybank credit card, where our Toll Free telephone calls (including Maybank 2 Cards Gold, annual income requirement RM30K) are answered almost immediately, you may be pissed off with Public Bank Customer Service for their non premier cards. If you don’t believe me, try calling up Public Bank Quantum Credit Card Customer Service number and experience it for yourself.

Introduction to Credit Cards Tutorial CC101 Feature

If you are new to credit cards, I strongly recommend that you take my FREE CREDIT CARD TUTORIALS by clicking here. Make sure you read the PRELUDE where I will show you (fresh graduates) that you can either choose to spend now and pay later with the Public Bank Quantum credit cards to live the moment with shiok sendiri sensations OR you can save now and have a much better quality of life in your retirement with your whole family.

For more recommendation on credit cards, please click here to my BEST CREDIT CARD PAGE (updated February 2017)