Finally there’s a new credit card in town! This time, CIMB has finally released a credit card that is worth looking at. After OCBC has launched their rebates card successfully – OCBC 365 card, the banks in Singapore want a bite of the rebate fever since Singaporeans are keen to have rebates as compared to credit card points and frequent flier niles.
So what are some of the perks that this credit card has?
1. No annual fee
Nowadays, who pays for credit card annual fees? Only if you are interested in some of the free vouchers, miles or gifts that they are providing of course,
2. 3.8% rebate on dining, entertainment, Visa paywave and online shopping anytime (with T&C)
The dining rebate is definitely out to rival OCBC 365 card which provides 3% rebate on weekdays and 6% on weekends. Of course, there is a need for minimum 3 transactions and a minimum spend of $500 per month on the credit card in order to enjoy 3.8% rebate and also $50 per transaction for dining at restaurants and bars. Otherwise it is just 0.5% rebate which is paltry. Also do note that the cap for this additional 3.3% rebate is at $50
3. Free access to True Yoga & True Fitness (Till 24 Sep 15)
This is capped at 2 visits/card/mth and first 20 accesses per day (15 for True Fitness and 5 for True Yoga)
4. Free airport limousine transfer (Till 31 Jul 15)
Minimum charge of $500 up to 3 months before departure. This is good as the spending is not limited to travel expenses.
5. Free parking at Liang Court (Till 30 Jun 15)
Subject to first 20 redemptions/day at Liang Court. 1 charge slip must be present for carpark claim.
More T&C here
All in all, this is a decent credit card to hold since there is no need to call and ask for annual fee waiver annually. In addition, there are free perks such as free access to the gym and yoga club even if you do not make any spendings. The people who will find this useful will be those who spend on entertainment and meals regularly, so as long as you can fulfil the minimum spend of $500 per month with 3 transactions, make this a permanent fixture in your wallet.