A Personal Finance Blog for Malaysian: Maybankard 2 Card - Don't apply supp. card unless....

Friday, November 18, 2011

Maybankard 2 Card - Don't apply supp. card unless....

I borrow the following from http://creditcardsmalaysia.blogspot.com
This year in January 2011, the second wave of the battle of cash back credit cards has begun with  Maybank launching their newest credit card called Maybankard 2 Card. I must say MBB did their homework and has come out with a product (actually 2 in 1) that has a combination of benefits that its competitors offer. The Maybankard 2 (called Maybankard Dua) American Express Card gives you 5X Treats Points for every Ringgit spent for ANYTHING, ANYTIME and ANYWHERE in the world. 
As advertised in Maybank's Website:
 Here are the benefits 
  • The benefits of two cards, Maybankard 2 American Express® Card and Maybankard 2 MasterCard or Visa Card, in one sign up, one service tax, and one statement.
  • Enjoy a low Finance Charge of 8.88% p.a.
  •  on your outstanding retail balance, and save up to RM2300 a year¹. All you have to do is promptly settle your minimum payment of 5% or a minimum of RM25. 
  • ¹Based on RM3,000 monthly spend with minimum repayment of 12 months.
  • 5x TreatsPoints
  •  for every Ringgit spent on Maybankard 2 American Express Card and 1x TreatsPoint on Maybankard 2  Mastercard/Visa Card in Malaysia or anywhere else in the world.
  • 5% Weekend cash back²
  •  when spend on Maybankard 2 American Express Card.
  • ²A cap of RM50 per customer (Principal Cardmember) per month
  • Enjoy lowest finance charge of 8.88%³ per annum on your outstanding retail balance. All you need to do is promptly settle minimum payment, 5% of the outstanding balance or a minimum of RM25. 
  • ³Maybank reserves the right to revise the Finance Charge as and when it deems necessary, with 21 days prior notice.
  • Lifetime Fee Waiver
  •  with complimentary supplementary cards.

However, if you apply for supplementary card, the service tax is RM25 x 2 card (Amex and Master or Visa) because the "One Service Tax" is only applicable for Principal Card Holder (Confirmed by Maybank customer service department as well as charges incurred by me)

The benefits are good but no point to have supplementary card (which end up paying as much as Principal card holder) unless you have no other choice.

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