CIMB Visa Signature Card and Platinum MasterCard - Changing their Rebate Programme

Hi everyone,

CIMB Visa Signature and Platinum MasterCard are changing the way they give rebates to encourage more usage of their cards. Here are the changes.

CIMB Platinum MasterCard
- No more rebates for Home Furnishing and Insurance
- 10% Cash rebate for Travel and Health & Wellness provided...
--> $60 rebate cap
--> Swipe at least 8 transactions of $30 minimum each
--> Overall $500 minimum spend.

CIMB Visa Signature Card
- No more rebates for Visa PayWave in foreign currencies
- 10% Cash rebate for Wine & Dine and Online Transaction in Foreign Currencies provided...
--> $60 rebate cap
--> Swipe at least 8 transactions of $30 minimum each
--> Overall $500 minimum spend.

To me, there is no more usage on CIMB Platinum MasterCard. For Visa Signature Card, the restriction of swiping at least 8 transactions of $30 minimum each is too much for me.

Thus, I won't be using CIMB Cards anymore.

Card for HDB Carpark Purchase & Car Insurance - SCB Singpost Credit Card

After their revision of their terms and conditions, I found that SCB Singpost Credit Card still offers 7% rebate on online purchases. Thus, I use it to purchase my HDB carpark (annual) and got my 7% cash rebate. Here is the details at a glance. (Minimum $600 purchase)

HDB Carpark - $1,140 per year => $79.80 cash rebate (Pay 7 months everytime to hit minimum $600)

Car Insurance (purchased online) - $1,000 per year => $60 cash rebate (Maximum per month)

SCB Singpost Credit card will continue to be my online purchase card but HDB and Car Insurance purchase are the main reasons why I use it. With that, I drop OCBC Frank, and CIMB Platinum card

CIMB Platinum Card for Education - STOPPED

Hi everyone,

From 1st June onwards, CIMB is going to stop paying an additional 3.3% for Education while Insurance, Home and furnishing and appliance will continue for their CIMB Platinum Mastercard

It is quite a big hit for me as I do pay quite an amount per year for my child's education. Will need to look for another card now.

Total Amount of money saved - A family of Four

Hi everyone,

Looks like I need to summarise all these cards which I am actively using and how it helps me to save money. However, I realize that I need to give you a glimpse of my profile so that you know whether it matches yours.

I am a working adult with a normal job, married with two kids, age 3 and 1 with help from my parents-in-law to take care of my kids. Thus, my groceries budget is catered to six people (sometimes eight). Because of this, dining during weekdays are rare as my mother-in-law cooks for us.

I live in a 4-room HDB flat. Thus, I have Singapore Power bills and S&CC charges.

I bought a car two years ago because of my second kid so I have car related budget.

I send one of my kids for Shichida course in Toa Payoh which explains why I needed education budget.

I subscribe to Mio Home plan with 3 handphone lines linked to it. Thus, I have a Singtel budget.

With this profile, here are the savings I have from most of the expenses I incur. I will update it as time goes by.

From Maybank Family and Friends Card (Groceries) = $480

From NTUC U Member (Groceries) = $240 - 117 = $132

From OCBC 365 Credit Card (Petrol) = $60 (Counting on Cash Rebate only - Changed from Citibank Dividend Card)

From OCBC 365 Credit Card (Singtel) = $54

From OCBC 365 Credit Card (Dining) = $162

From Citibank Rewards Card (Departmental Store) = $40

From CIMB Platinum Card (Education, Insurance & Home Furnishing) = $200

From OCBC Frank Card (HDB Carpark) = $65

From POSB Everyday Card = $18

From NTUC Plus! Visa = $8

Total = $1219 (About $100 per month)

CIMB Platinum Card - My Insurance and Education Card

http://www.cimbbank.com.sg/index.php?ch=sg_per_ca&pg=sg_per_ca_prod&ac=13&tpt=cimb_sg#

CIMB Platinum Card gives 3.8% cash rebate on insurance, education and home furnishing. It is very useful if you have big tickets to purchase especially when other banks are shunning insurance payments. Here are some of my data for your analysis.

Some drawbacks include
1) Minimum $500 for the month
2) Maximum of $600 Cashback

In 2014 up to today, I have spent about $1600 on home furnishing, $200 on my family's personal accident insurance and I am currently paying $830 per quarter for my children's education. The data is as follows on an annual basis (Do note that all bills are at least $500 just to make sure that I don't have to spend extra just to earn the rebates.)

Education - $830 x 4 = $3320
Home Furnishing - $1600
Insurance - $200
Total = $5120

3.8% rebate = $194.56 saved. (About $16 per month)