On my previous blog post, I posted on the comparison of some of the best cash rebate credit cards in Malaysia namely the Maybank 2 Card Platinum (Maybankard 2 Platinum), Citibank Cash Back Platinum, UOB One Platinum and the Hong Leong Wise Platinum card. Note that I'm using the "platinum" tag to compare although there is the gold card for Maybankard 2 Card, Hong Leong Wise and UOB One is because I cannot find something similar for Citibank Cash Back Platinum, so I think it will be fair to compare the four cards based on the same annual income requirement of RM 60, 000.
Today I'm blogging more on the details of the Maybankard 2 Platinum Card. Maybankard 2 Platinum Card comes with two cards, as the name has suggested. It comes with the bundle of one Maybankard 2 American Express card and the choice of either the Visa or Master Card. Having said so, the users prior to mid of 2014 only have to pay one GST or RM50 while the new applicants after that will be required to pay GST for both cards or RM100.
The following is the pros and cons of the Maybankard 2 Platinum Card.
- Lifetime annual fee waiver
- 5% cash back on everything during the weekends using the Maybankard 2 American Express card, capped at RM50 per month
- 5x TreatsPoints for all spend on your Maybankard 2 American Express Card in Malaysia or anywhere else in the world except Government Bodies, Education Institutions and Insurance Provider
- 2x TreatsPoints for every RM1 spend on your Maybankard 2 American Express Card at Government Bodies, Education Institutions and Insurance Providers.
- 1x TreatPoints for every RM1 spend on the Visa or Master Card
- Shared credit limit
- 2x RM50 GST per year (although the benefit only comes from the Maybank 2 American Express Card)
- Not all merchant accept American Express
- Cash back only effective on weekends
Basically, I don't find any cash back benefit or cap difference between the gold and the platinum card. The platinum basically requires higher annual income of RM 60, 000 compares to RM 30, 000 of the gold card which is why I think the gold card is exceptionally useful for fresh grad especially those with the pay between RM 2, 5000 and RM 3, 500 and fresh grads can make full use of the cash back during the spending over the weekends with almost no hidden terms and conditions even though they are applying for the gold card; as the cash back cap for the gold and platinum is the same.