The CIMB Cash Rebate Platinum Credit Card is an excellent choice for individuals seeking to maximize their savings on daily expenses while enjoying a stress-free banking experience. With straightforward benefits and a low annual income requirement of RM24,000, this card is accessible to a broad audience, including young professionals, families, and budget-conscious individuals.
Its cashback feature rewards you for spending on essential categories, making it an ideal choice for those who want their everyday purchases to work harder for them. Additionally, the lifetime waiver of annual fees adds significant long-term value, eliminating hidden costs and making this card a cost-effective option.
Advantages
- Automatic Rebates: Your cashback is automatically credited to your monthly statement, simplifying the process of enjoying your savings.
- Global Acceptance: Use your card anywhere in the world where Visa is accepted, making it a reliable choice for both local and international transactions.
- Exclusive Merchant Deals: Take advantage of special promotions and discounts at CIMB’s partner merchants to enhance your overall savings.
- Easy Utility Bill Payments: Pay your utility bills directly with the card and earn cashback on every transaction, streamlining your monthly finances.
- Online Convenience: Apply online quickly and efficiently through CIMB’s website, ensuring a seamless onboarding process.
Potential Disadvantages
- Capped Cashback: The maximum cashback you can earn is RM30 per month, which might be limiting for high spenders.
- High Spend Requirement for Maximum Rebate: To earn the full 5% cashback, you need to spend at least RM3,000 per month.
- Limited Cashback Categories: Cashback is restricted to specific categories like groceries, petrol, and utilities, with other spending earning only 0.2%.
- Foreign Transaction Fees: International transactions are subject to additional fees, reducing the overall savings for frequent travelers.
- No Travel Benefits: The card does not offer travel insurance, airport lounge access, or other perks commonly found in premium credit cards.
How to Apply for the CIMB Cash Rebate Platinum Credit Card
- Check Eligibility: Ensure you are at least 21 years old and have a minimum annual income of RM24,000.
- Prepare Documents:
- For salaried employees:
- A copy of your MyKad (front and back).
- Your latest EPF statement or three months’ salary slips.
- For self-employed individuals:
- A copy of your MyKad (front and back).
- Your Business Registration Certificate.
- Your latest Income Tax Return with a tax receipt.
- For salaried employees:
- Apply Online: Visit the CIMB website, fill out the application form with accurate details, and upload the required documents.
- Submit Your Application: Once your application is complete, submit it for review. CIMB will process your application and notify you of the results within a few working days.
The CIMB Cash Rebate Platinum Credit Card is a practical and cost-effective option for Malaysians looking to save on daily expenses. Its high cashback rates, lifetime fee waiver, and low income requirement make it an excellent fit for budget-conscious individuals. However, understanding its cashback caps and spending requirements is key to maximizing its benefits.
If you’re ready to enjoy the savings this card offers, click the button below to apply now and start making the most of every transaction.
