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.

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)