Another Credit Card Review by GenX @ http://www.GenXGenYGenZ.com

 

UPDATE 2018 – Please click here to my FREE Credit Card Tutorial 2018 for Review of the wonderful Maybank 2 Gold or Platinum Credit Cards.

And then click here to My Cash Back Credit Card Page for more Reviews On Malaysia’s Best Cash Back Credit Cards 2018.

 

Below contents were last updated in 2017

IMPORTANT ANNOUCEMENT – click here to learn the revision to Treats Points effective 15 April 2016 and what credit cards you should use for transactions relating to Government, Education, Insurance and Utilities.

UPDATE February 2017 – Effective 15 March 2017, the Maybank 2 Cards Gold and Platinum American Express once again offer 5% cash back for any type of transactions including Petrol on Saturday and Sunday!!! The once upon a time Best Credit Card in Malaysia is back to regain its position as among the Top 3 Best Credit Card in Malaysia 2017.

INTRODUCTION

When the Maybank 2 Cards were first launched back in 2011, it was called Maybankard 2 Cards. It become an overnight success where the Maybankard 2 Cards American Express offered 5% cash back for any type of transaction (including petrol) every Saturday and Sunday in addition to 5X Treats Points for every Ringgit spent locally or overseas.

And for many years I recommended the Maybankard 2 Cards to my readers and many were able to earn RM600 pure cash back a year in addition to 5X Treats Points which was equivalent to 2.5% cash back when redeeming for cash vouchers. Many people thanked me for recommending the the once upon a time fabulous Maybankard 2 Cards as they get to earn 5% cash back for their essential expenses (e.g. Petrol, Groceries, TNB, Telekom, Mobile and etc) and in a small way assisted them to cope with the high cost of living.

Over the years, Maybank inflated their Treats Points redemption program. Back in 2011, we could redeem a RM50 voucher with just 10,000 Treats Points. As of 1st January 2015, we need 20,000 Treats Points to redeem for a RM50 cash voucher (400TP = RM1).

In April 2014, the government of Malaysia started to impose 6% GST and the cost of living increased overnight. And to make matters worse for my readers, Maybank did the unthinkable in August 2015. Maybank terminated the 5% cash back for all types of transactions with the Maybank 2 Cards American Express and limited it to just for Dining! Many people were pissed off big time as they will no longer earn 5% cash back for Petrol, TNB bills and Groceries.

But, all was not lost; because, my readers still have me to teach them how to continue earning 5% cash back for petrol and groceries with credit cards. And I will touch on this in the Conclusion where I will introduce to you my creation – the must have FREE FOR LIFE Maybank 3 Cards GTR.

I shall now give you a brief description of the pros of the Maybank 2 Platinum Cards and Maybank 2 Gold Cards.

BENEFITS OF MAYBANK 2 CARDS – AMEX PLUS VISA OR MASTERCARD

The Maybank 2 Platinum Cards and the Maybank 2 Gold Cards are still pretty good today and in this review I will show you why.

1. FREE FOR LIFE

The Maybank 2 Platinum/Gold Cards are truly FREE FOR LIFE without any conditions whatsoever. You will never need to pay a single sen in annual fees. And best of all, you will never need to call Customer Service and beg for the annual fee waiver – which means you will never feel like a dumb-ass as you will never be rejected, hahaha.

And since the Maybank 2 Platinum/Gold Cards are FREE FOR LIFE where you won’t be imposed a single sen even if you don’t use them, there are no cons associated with the Maybank 2 Cards!!!

2. 5% CASH BACK FOR DINING ON WEEKENDS WITH THE AMEX CARD

We get 5% cash back for dining on weekends (Saturday and Sunday) with the Maybank 2 Cards AMEX Gold/Platinum, which is still pretty good especially if you are living in the Klang Valley. AMEX is accepted at TGIF, Tai Thong Group of Restaurants, Pizza Hut, most 4 and 5 star hotels F&B outlets, Ippudo, Canton-i, Pasta Zanmai, Alexis, Chinos, Dome and many other restaurants.

The cash back is capped at RM50 per month which means it is good for up to RM1K spending on dining every month. Now, the 5% cash back for Dining is on top of the 5X Treats Points (mentioned below) you will earn whenever you use the Maybank 2 Platinum/Gold Cards.

If you consistently spend RM1K on dining with the Maybank 2 Cards AMEX on weekends every month, you are guaranteed cash back amounting to RM600 per year. Considering the fact that the Maybank 2 Cards are truly FREE FOR LIFE, the cash back that you earn from using the Maybank 2 Cards AMEX is like FREE money for nothing.

3. UNLIMITED EVERYDAY 5X TREATS POINTS FOR EVERY RINGGIT SPENT ANYWHERE ON PLANET EARTH WITH THE AMEX CARD

Many credit cards claim that they offer 5X reward points BUT most of them are limited time promos or comes with terms and conditions. Before you sign up for any credit card, you should read the terms and conditions on the 5X reward points. Some cards only reward 5X points for overseas spending but excluding online transactions, some have monthly quota and the worse case is where they allocate a monthly quota to be shared by all their card users based on first come first serve basis.

The Maybank 2 Platinum/Gold Cards American Express 5X Treats Points IS A STANDARD CARD FEATURE and there is monthly cap whatsoever. The only exception is that you will only earn 2X Treats Points for  transactions relating to Insurance, Government and Education.

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