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Unlike the strategy of affiliated airlines credit cards that we introduced in Hong Leong Bank before, CIMB bank has its lineups focus much more on the Malaysia national carrier- Malaysia Airlines.
The question is, if co-branded credit cards really provide better redemption rates?
For miles earning, we could categorise CIMB credit cards into two category: Reward Points and Direct Miles.
Reward point (Bonus Point as they call for CIMB Reward program) credit cards have more liquidity, as the points earned could be redeem for different products and cash coupons. Suitable for users with typically lower expense or less travel.
Direct miles on the other hand, could only used for earning Malaysia Airlines' Enrich miles. However, the earning rate is much efficient.
Reward Points
Under this category, we could classify the cards into 3 different segments, according to minimum annual income.
A. Base (Minimum Annual Income: 24,000 MYR)- No Annual Fee
CIMB Platinum and CIMB Platinum-i
Common benefits:
- 1x per 1 MYR spend
- 10% off at the ZON Duty Free Outlets
A. Mid-Tier (Minimum Annual Income: 60,000 MYR for Visa and 90,000 MYR for Mastercard)- No Annual Fee
Common Benefits
- Up to 1M MYR travel insurance
- Discount on dining at selected Marriott properties in Malaysia
- Exclusive Price for premium rides to/from KLIA or KLIA2
Exclusively for CIMB Visa Signature
- 2x for overseas spending
- 1x for local spending
- 2x Plaza Premium Lounge Access in Malaysia and Singapore (Hitting minimum spend of 100,000 MYR)
- 10% off at the ZON Duty Free Outlets
- 50% discount for second economy class ticket from selected airlines at CIT Travel
Exclusively for CIMB World Mastercard
- 5x for flight ticket purchases
- 1x for local spending
- Unlimited 1.5% Cash Back on foreign currency expenses
- 15% off at the ZON Duty Free Outlets
- 50% off for Green Fees at selected golf clubs (9 countries)- World Mastercard Privilege
C. Top Tier (Minimum Annual Income: 120,000 MYR)- No Annual Fee
*Preferred is an invitation only card
Common Benefits
- 1x for local spending
- 8x Plaza Premium Lounge Access in Malaysia
*Visa Infinite requires hitting annum minimum spend of 100,000 MYR and applicable for lounges Singapore
**Preferred has unlimited access to selected lounges in South East Asia with no minimum spend
- Buy One Fly Two for Business class fares from selected airlines at CIT Travel
- Discount at ZON Duty Free Outlets (10% for Visa Infinite and 15% for Preferred)
- Up to 1m MYR travel insurance
- Dining Privileges (Marriott properties, selected restaurants in South East Asia, etc)
Exclusive for CIMB Visa Infinite
- 5x for dining and overseas spending
- Discounted Price for premium rides to/from KLIA or KLIA2
Exclusive for CIMB Preferred Visa Infinite
- 8x for dining and overseas spending*
*maintained a minimum aggregated total Deposit and/or Investment of RM250,000 in quarters basis. If not, will be just 2x
Miles Redemption rates for "Reward Points"
Airasia Big Points 8:1 (Min 8,000 : 1,000)
Malaysia Airlines Enrich Miles 10:1 (Min 10,000 : 1,000)
Direct Miles
CIMB offers 3 variations of Enrich Credit Card: Platinum, World and World Elite
Each cards will earn Bonus Miles (reward point) in different pace. However, each Bonus Mile equal ONE Enrich Mile (1:1 redemption rate). Bonus Mile is valid for 3 years.
A. Miles Earning:
Platinum: 1x for every 4 MYR spent locally and overseas
World: 1x for every 1.50 MYR spent overseas and every 3 MYR spent locally.
World Elite: 1x for every 1 MYR spent overseas every 2 MYR spent locally (up to 150,000 Bonus Miles*)
*After 150,000 Bonus Miles, 1 Bonus Mile for every 4 MYR spent locally and overseas
B. Benefits
Common Benefits:
- Discounts at ZON Duty Free Outlets (10% for Platinum,15% for World and World Elite)
- Worldwide Malaysia Airlines' Golden Lounge access (2x for Platinum, 8x for World and unlimited for World Elite)
- Up to 1m MYRTravel Insurance (for Platinum and World)
- 1 day prior access to promotions of Malaysian Airlines (World and World Elite)
- Discounted Price for premium rides to/from KLIA or KLIA2
- Discount on dining at selected Marriott Properties in Malaysia
Common benefits for World and World Elite
- Golf Club Privileges (differ by tiers)
Exclusive for World Elite
- No additional mark up on currency exchange for overseas spend
- Worldwide Wi-Fi access with Boingo Wi-Fi
- Travel accident and medical insurance
- Extended warranty, e-commerce and purchase protection
C. Eligibility
Platinum: Minimum Annual income 24,000 MYR
World: Minimum Annual income 100,000 MYR
World Elite: Minimum Annual income 250,000 MYR
D. Annual Fee
Platinum: No annual fee
World: 554.72 MYR (waived when spend 500,000 MYR per annum and 50% for 250,000 - 499,999 MYR)
World Elite: 1,215.09 MYR (waived when spend 1,000,000 MYR per annum and 50% for 500,000 - 999,999 MYR)
Final Thoughts
Back to the question in beginning "if co-branded credit cards really provide better redemption rates?"
According to reward system of CIMB bank, the answer is YES. The Enrich co-branded cards are highly recommended to high spenders loyal to Malaysia Airlines. (To waive the annual fee of course)
But is it the best cards for earning Enrich miles?
More likely not.
Take an example for someone with high income (150,000 MYR per annum) , but relatively less expense (500,000 MYR per annum). Qualified for both CIMB Enrich World and Hong Leong Bank Visa Infinite card.
Seriously, more than x3 of minimum annual income. If it is not business expenses, better don't do it.
The Hong Leong Bank clearly stands out. With 0 annual fee and better Enrich Miles earning rate (1 Mile per 2.8 MYR local spending and 1.8 MYR overseas spending)
However, the 4:1 ratio for CIMB Enrich platinum opens up more opportunity for users with lower income to redeem their dream flights. 4:1 is a very competitive redemption rate for entry level cards.
It is truly a joy for users to have CIMB entering the Malaysia Airlines co-branded credit cards. The partnership is built since year 2015. We hope more credit card issuers will keep up the culture of co-branding.
To create a higher value of points, higher volume of travel for airlines and better experience for customers in the future. After the pandemic is over.
It is indeed a great time now to put all the expense on cards. Collecting the points for relatively longer period and redeem the points with the best value. Check out another article related to applying travel credit cards during pandemic.
Have a glance of estimated earning miles by using the excel file below:
By inserting the amount of expense in Yellow Column
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