For users of the above 2 cards, do take note that there is a major change in terms of the rebate structure for these 2 cards come 17 Jan 2016.
1. CIMB Platinum MasterCard
As can be seen in the table above, the previous 3.8% rebate for insurance, home furnishing and appliances has been replaced by 2 new categories – travel and health, beauty & wellness. Although the cash rebate has been increased to 10%, do take note of the cap of $60 per statement cycle (meaning a maximum spending of $600 ideally) and the fact that the baseline cash rebate has been reduced to 0.2% for all local and overseas spend. In addition, you need to make 8 separate transactions with a minimum of $30 each during that statement cycle and a minimum spend of $500 per month in order to qualify.
Travel category merchants would consist of Airlines, Hotels, Travel Agencies, Cruise Lines, Railways and Ferries only.
2. CIMB Visa Signature
For this card, the categories have remained roughly the same – dining & entertainment replaced by “Wine & Dine”, online transactions in foreign currencies as status quo but Visa paywave transactions have been removed. Similarly, the cash rebate has dropped from 0.5% to 0.2%. As with the CIMB Platinum card, you need to make 8 separate transactions with a minimum of $30 each during that statement cycle and a minimum spend of $500 per month in order to qualify.