The CIMB Platinum Mastercard and Visa Signature bank cards triggered fairly a little bit of buzz final year-end (Nov 2018), after they supplied a whopping 10% cashback for five bonus spending classes every.
Their glory days, nevertheless, have been short-lived. Simply half a 12 months later (Jun 2019), CIMB revised the phrases and situations as soon as extra: though they saved the highest-in-market 10% cashback charges, they shuffled the spending classes between the two playing cards, splitting up the extra in style classes and thus, making it a lot tougher to maximise financial savings.
Of the favored spending classes, the CIMB Platinum Mastercard obtained eating, transport and petrol, whereas the CIMB Visa Signature obtained groceries and on-line procuring.
Because it’s simpler to hit the $800 minimal spend with bills like eating and petrol, it might seem to be the Platinum Mastercard obtained the longer finish of the stick. Nevertheless, as a result of the cashback is capped at $20 per class (that makes an expenditure cap of $200 every)… Personally, I’d say the two playing cards are in the identical (not-very-good) tier.
Right here’s a abstract of the CIMB Platinum Mastercard bank card.
CIMB Platinum Mastercard bank card phrases & situations
| CIMB Platinum Mastercard bank card | |
| Annual payment & waiver | $0 |
| Supplementary annual payment | Free |
| Curiosity free interval | 23 days |
| Annual rate of interest | 25.90% |
| Late cost payment | $100 |
| Minimal month-to-month reimbursement | 3% or $50, whichever is greater |
| Overseas foreign money transaction payment | 2% |
| Money advance transaction payment | 6% (minimal cost of $15) |
| Overlimit payment | – |
| Minimal revenue | $30,000 (Singaporean) / $60,000 (Non-Singaporeans) |
| Card affiliation | Mastercard |
| Wi-fi cost | Mastercard Paypass |
Citi Money Again Card — This card covers eating and petrol too, however with a further groceries class, which is best than the CIMB Platinum Mastercard’s private care shops class. The minimal spend is extra ($888) and the cashback is much less (8%), however the rebate cap can be greater ($25/class).
UOB One — In the event you spend on random stuff that don’t match into any of the above bins, contemplate the UOB One card. Not like the CIMB Platinum Mastercard and above-mentioned rivals, this card doesn’t award cashback primarily based on spending classes. In the event you can spend a minimum of $2,000 per 30 days for 3 months, you’ll get $100 again that quarter (as much as 5%).
Suppose the CIMB Platinum Mastercard is the one for you? Apply by means of MoneySmart for one of the best sign-up promotions.
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