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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

cimbplatinum

As can be seen in the table above, the previous 3.8% rebate for insurance, home furnishing and appliances has been replaced by 2 new categories – travel and health, beauty & wellness.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.

Health, Beauty and Wellness category merchants would consist of Hospitals, Nursing and Personal Care Facilities, Doctors, Dentists, Optometrists, Opticians, Chiropractors, Pharmacies, Cosmetic Stores (excluding department stores), Hairdressers, Massage Parlours, Health and Beauty Spas only.

2. CIMB Visa Signature

cimbvisa

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.

As with most dining rebates, Wine and Dine category merchants would consist of Caterers, Bars, Lounges, Clubs, Fast Food Restaurants, Eating Places & Other Restaurants only and excludes wedding banquets, bars, lounges, clubs, restaurants, or other eating places within hotels.
Conclusion
The enhanced changes benefit those who utilise the cards regularly (at least 8 times a month in the respective categories). For those who dine out or shop online frequently, the new perks on the CIMB Visa Signature card would be a boon. Morever, the administrative fee of 1.4% for foreign currency transactions would be waived. As for those using the CIMB Platinum Card, the loss of insurance and home and furnishing is indeed a pity for those who pay their premiums regularly or are looking to furnish their homes. Under the health, beauty and wellness categories, there are a lot more options like hairdressers, doctors, dentists, pharmacies, hospitals , massage and spa which may benefit those who utilise these facilities or who like to pamper themselves.
Full T&C available here
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2 Responses to Changes to CIMB Platinum MasterCard & Visa Signature Cards Rebate structure from 17 Jan 2016

  1. oldbrother says:

    are you sure is 10%, i only get to see 3.8% on CIMB website

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