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In this blog, there are few articles about credit card in Thailand. Being as Malaysian, I have an idea to categorise the points and miles game in Malaysia.
The full comparison between banks will be released in the near future after all the internal comparison is done. It is indeed easier to be said than done, as there are a lot more Banks to be compared in Malaysia.
To kick off this project, I will start with one of the major banks in Malaysia.
Maybank, also known as Malayan Banking Berhard ranked 83rd in the world as the most valuable bank brand in year 2018.
Being as one of the banking giants in Malaysia, we will have a deeper look on credit card products it offers towards Rewards. (Excluding American Express owns charge and credit card)
Article about Maybank and American Express [Read]
As in South East Asia, the applicants are classified according to our annual incomes.
We will start with the "high tier" cards.
Noted that TreatPoints are valid for 3 years. E-wallet reloads, Government Bodies / JomPAY / FPX do not earn TreatPoints.
1. Minimum Annual Income: 100,000 MYR (approx 740,000 THB)
All of the cards in this category has an annual fee of 800 MYR (approx 6,000 THB), waived for first year. Subsequent years' annual fee will be waived if hit minimum spend of 80,000 MYR (approx 592,000 THB)
As this is the highest tier of credit cards Maybank offer, it come with the package of Travel Insurance, Dining Privileges (Up to 50% off at Shangri-La Hotel, Kuala Lumpur and partnered Marriott properties across Malaysia) and Complimentary or discount on Green Fee as Golf privilege.
A. Maybank 2 Cards Premier Reserve American Express
This is a strategy from Maybank, for issuing two cards in one application. Both Visa and American Express for better points earning.
However, This card does not provide lounge access.
Multipliers:
- 5x for every 1 MYR spent locally and overseas
- 1x on all transactions for utilities, education, EzyPay and insurance
B. Visa Infinite
This card comes with 3 different variation: Manchester United Co-branded, ordinary and Islamic version. Both Ordinary and Islamic versions have exact same benefits.
Common benefits:
- 2x for every 1 MYR spent locally
- 5x for every 1 MYR spent overseas
- 1x on all transactions for utilities, petrol, education, EzyPay and insurance
- 10,000 TreatPoints upon card activation
- 5 Complimentary Access to Plaza Premium Lounge per annum (20% discount for each accompanying guest)
Exclusively for Manchester United co-branded:
- 5x when Manchester United wins a Premier League Match.
- 5x for every MYR spent on groceries.
- 10x and 10% discount on United Direct Online Megastore at www.manutd.com
* On website, there are some invitation only activities offered too. (Eg. VIP trip to Old Trafford)
C. World Mastercard
There are two variations of this card: ordinary and Islamic version.
Exclusively for World Mastercard:
- 5x TreatMiles for every 2 MYR spent locally
- 5x TreatMiles for every 1 MYR spent overseas
*TreatMiles never expired, but could redeem for Enrich Miles only
- 50,000 TreatMiles upon approval
- LoungeKey by Mastercard. 32 USD per person per visit to affiliated lounges.
- 5 Complimentary Access to Plaza Premium Lounge per annum (20% discount for each accompanying guest)
Exclusively for Islamic World Mastercard Ikhwan:
- 5x for every 2 MYR spent locally
- 5x for every 1 MYR spent overseas
- 1x on all transactions for utilities, petrol, education, EzyPay and insurance
- 10,000 TreatPoints upon first spend
- 0.2% from cross border spend will be donated to Waqaf & Zakat managed by Maybank Islamic to help those without the basic needs and necessities (fakir miskin). (Max 100 MYR)
- LoungeKey by Mastercard. 27 USD per person per visit to affiliated lounges.
- 5 Complimentary Access to Plaza Premium Lounge per annum (20% discount for each accompanying guest)
Miles redemption rates:
Malaysia Airlines' Enrich Miles:
- Maybank 2 Cards Reserve American Express, All Visa Infinite 5:1 (Min 5,000:1,000)
- World Mastercard Ikhwan, World Mastercard 6:1 (Min 6,000:1,000)
Singapore Airlines' KrisFlyer
- Maybank 2 Cards Reserve American Express, All Visa Infinite 5:1 (Min 5,000:1,000)
- World Mastercard Ikhwan 6:1 (Min 6,000:1,000)
Asia Miles
- Maybank 2 Cards Reserve American Express, All Visa Infinite 5:1 (Min 5,000:1,000)
- World Mastercard Ikhwan 6:1 (Min 6,000:1,000)
Conclusion:
For points and miles, The Visa infinite, Manchester United co-branded card stands out the most. with additional x5 on grocery shopping.
For users focusing on miles and overall benefits, World Mastercard stands out from the competition, with better earning rate for local spend, higher welcome bonus and receiving LoungeKey.
Islamic World Mastercard Ikhwan is indeed a surprising product, with charity donation added.
Following miles redemption rates are applied to all cards below Category 1:
1. Malaysia Airlines' Enrich Miles 10:1 (Min 10,000:1,000)
2. Singapore Airlines' KrisFlyer 8:1 (Min 4,000:500)
3. Asia Miles 7:1 (Min 7,000:1,000)
4. AirAsia's BigPoint, Malindo Miles 7:1 (Min 7,000:1,000)
2. Minimum Annual Income: 70,000 MYR (approx 520,000 THB)
There is only one card, awkwardly inserted in this category.
The range of applicable income is between 70,000 MYR to 100,000 MYR.
It has an annual fee of 550 MYR, waivable by minimum spend of 30,000 MYR (approx 222,000 THB) per annum.
Benefits:
- 1x for every 1 MYR spent locally
- 5x for every 1 MYR spent overseas
- 5% Cashback for all petrol & groceries (domestic only) everyday, capped at 88 MYR per month* *Only Cash Rebates amounting above 1 MYR will be awarded.
- No TreatsPoints for petrol & groceries.
Conclusion:
Since redemption rates are not ideal compared to the cards a tier higher, the points could hardly be optimised. But the 5% cash back is a catch.
3. Minimum Annual Income: 60,000 MYR (approx 446,000 THB)
This is the tier with Petronas (gas station) co-branded cards. Typically has no annual fee.
A. Maybank 2 Platinum Card
This is the set up of lower tier's "Premier Reserve". However, this pair provides a more dynamic benefits.
Benefits:
- 5x for spending on weekdays with Maybank 2 American Express Card
- 1x for spend on Maybank 2 Mastercard / Visa Card
- 5% Cashback on weekends with Maybank 2 American Express Card. (Max. 50 MYR per month)
- Travel insurance coverage up to 700,000 MYR
- 1x on Education Institutions, Insurance Providers, Utilities and 0% EzyPay
B. Petronas co-branded Visa Platinum
It offers 2 variations: The ordinary and Islamic versions.
Common Benefits:
- 1x on Education Institutions, Insurance Providers, Utilities and 0% EzyPay
Exclusively for non Islamic version:
- 5x on weekdays and 8x on weekends for spending at PETRONAS Service Stations
- 8x for groceries spend on every weekend
Exclusively for Islamic version:
- 8% Cash Back for spending at PETRONAS stations on Saturday & Sunday
- 1% Cash Back for spending at PETRONAS stations from Monday till Friday
*capped at 50 MYR per month
C. Platinum Credit Card
This category offers 4 variations: Mastercard, Visa, American Express And Mastercard in Islamic version
Common benefits:
- 1x on Education Institutions, Insurance Providers, Utilities and 0% EzyPay and Petrol (for Islamic American Express Platinum And Islamic Mastercard only)
Exclusively for Islamic Mastercard:
- Weekly Umrah Trip winner (package for 2 pax). Umrah trip for Muslims and holiday package for non muslims.
- 5% rebate on petrol and groceries on Friday and Saturday. (Max 50 MYR)
- 0.1% of spending will be contributed by bank as charity fund.
- x1 for local and overseas spending (except for Petrol & Groceries on Friday & Saturday and government bodies)
Exclusively for Islamic American Express:
- 1x for spending at government
- 2x on all other spend
Exclusively for Visa and Mastercard:
- 1x for every 1 MYR local spending
- 2x for every 1 MYR overseas spending
- 2x for all expenditures during birthday month
- Travel insurance coverage of up to 700,000 MYR
- Surprisingly, this variation of cards comes with annual fee of 550 MYR
Conclusion:
The non islamic version Petronas co-branded card is a perfect petrol card for users with cards from tier 1, to maximise the points from gas. Despite the low redemption rate. Islamic version is perfect for only petrol card for cash back. The others are not highly effective in points earning.
4. Minimum Annual Income: 30,000 MYR (approx 223,000 THB)
This is the lowest category of credit cards offer by Maybank.
A. Classic
This is the most basic card type offered. However, The classic Visa and Mastercard come with annual fee of 60 MYR.
Common Benefits:
- 1x on Education Institutions, Insurance Providers, Utilities and 0% EzyPay
Exclusively for classic Visa and Mastercard:
- 1x for every 1 MYR local and overseas spending
- Travel insurance coverage of up to RM300,000
Exclusively for co-branded Manchester United Visa:
- 1x on Petrol
- 5x on groceries.
- 5x when Manchester United wins a Premier League Match.
Applicable to all purchases on the match day. No additional bonus for petrol and groceries purchases. Winning results are based on UK Match day (date and time).
- 10x and 10% discount on United Direct Online Megastore at www.manutd.com
- Additional discount for Red Café and tours at Old Trafford.
B. Gold
This is the section with the most cards. 2 variations of Petronas co-branded cards, Gold version of Visa, Mastercard and Islamic Mastercard. Ending with the 2 cards.
The classic Gold Visa and Mastercard come with annual fee of 130 MYR.
Common Benefits:
- 1x on Education Institutions, Insurance Providers, Utilities and 0% EzyPay
Exclusively for classic Gold Visa and Mastercard:
- 1x for every 1 MYR local and overseas spending
- Travel insurance coverage of up to RM300,000
Exclusively for Islamic Gold Mastercard:
- Weekly Umrah Trip winner (package for 2 pax). Umrah trip for Muslims and holiday package for non muslims.
- 5% rebate on petrol and groceries on Friday and Saturday. (Max 50 MYR)
- 0.1% of spending will be contributed by bank as charity fund.
- x1 for local and overseas spending (except for Petrol & Groceries on Friday & Saturday and government bodies)
Exclusively for Petronas Visa Gold card:
- 5x on weekdays and 8x on weekends for spending at PETRONAS Service Stations
- 8x for groceries spend on every weekend
Exclusively for Islamic Petronas Visa Gold card:
- 8% Cash Back for spending at PETRONAS stations on Saturday & Sunday
- 1% Cash Back for spending at PETRONAS stations from Monday till Friday
*capped at 50 MYR per month
Exclusively for Maybank 2 Gold Cards:
- 5x for spending on weekdays with Maybank 2 American Express Card
- 1x for spend on Maybank 2 Mastercard / Visa Card
- 5% Cashback on weekends with Maybank 2 American Express Card. (Max. 50 MYR per month)
Conclusion:
The cards in this section are not competitive in the lineup. Especially, the ones with annual fee. It is surprise that most cards benefits are duplicated with the ones on category two, especially the Petronas co-branded cards.
Final Thoughts
This is indeed a long comparison article. Analysing almost all the cards (23 products) shown on Maybank official website.
In my opinion, only the cards in category one could be categorised as travel cards. Visa Infinite cards as example, it takes approximately 2.5 MYR (approx 190 THB) to earn 1 Enrich miles, which is quite competitive to the market. All thanks to the multipliers and better conversion rate.
Ordinary cards on the other hand, with the regular 1x spending, it takes 10 MYR to redeem 1 Enrich miles, which is very inefficient. However, if we get the right card, Petronas Co-branded card for example, with the spending of 8x on grocery shopping in weekends, it requires just 1.8 MYR for 1 Enrich Miles, even if it is not the top tier cards.
As a popular Chinese saying "To win a card game, the cards on hand does not really matter. What's matter is how you are going to play it."
Overall, Manchester United co-branded Visa infinite card will be my personal top pick travel card for Maybank.
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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