Hong Leong Wise Gold Credit Card oh Hong Leong Wise Gold Credit Card

After further review, I plan to substitute my OCBC titanium with HONG LEONG WISE Gold credit card.

I will choose 2 category, bonus is Mobile. Minimum 10 times and RM 50.

Petrol - RM 400 per month RM 50, 8 times

Groceries - AEON Supermarket and AEON BIG - I will choose this one

or

Departmental

Parkson, AEON, Isetan, Metrojaya, Robinsons, Tangs, GAMA and Sogo outlets

and

Mobile:

UMOBILE - RM 70++

MUST FIND OUT AEON MAHKOTA CHERAS fall as groceries or as departmental store.

17. Are the retail transactions in a calendar month are counted based on posting date or transaction date? 
Retail transactions in a calendar month are counted based on transaction posting date. Cash-Back is awarded based on the total posted Ringgit amount of eligible retail purchases charged to the Wise Card. 

18. Are both Aeon Big and Aeon's supermarket are classified as Groceries Category to enjoy 10% cash back? 
For Aeon, only Aeon Big is classified as Groceries Category to enjoy 10% cash back. All other supermarkets in Aeon's outlets are NOT classified as Groceries Category to eligible for cash back. The assignment of merchant category for each merchant is subject to classification by the respective acquiring banks. 

19. If I were enrolled for Petrol category, can I enjoy the petrol cash back at any petrol stations? And, are both card transaction at petrol pump/ automated fuel dispenser and cashier counter eligible for petrol cash back? 
Yes, you may enjoy petrol cash back for card transaction at automated fuel dispensers, applicable to any petrol stations. But, card transaction at petrol station's cashier counter will not be eligible for petrol cash back as the swipes at counter may include miscellaneous purchases, eg. food, drinks, etc. 

More on effective cash rebate:

Source: http://generationsxyz.blogspot.com/2013/10/effective-cash-back-rate-with-credit.html

 HLB Wise Classic credit card

Anyway, let us work out the Effective Cash Back for the HLB Wise Classic credit card, where the annual fee is RM160, with RM1K spending a month:

i) Cash Back Portion 

Spend RM1K with the HLB Wise credit card on any day for the 2 categories selected and you will earn yourself RM100/month which equates to RM1,200 a year in cash back with RM12K spending.

ii) Reward Points Portion Equivalent Cash Back

Not Applicable since this card is a pure cash back card unlike the hybrid Maybankard 2 Card AMEX.

iii) To deduct Annual Fee

This card does not come with any auto annual fee mechanism and therefore it shall be assumed you got to pay RM160 from the second year onwards.

iv) To deduct GST RM50

You will be charged RM50 GST yearly. 

Actual cash back earn a year = Cash Back Earn DEDUCT Annual Fee DEDUCT RM50GST = RM1200-RM160-RM50 = RM990

Therefore the MAX Effective Cash Back in percentage for the Hong Leong Bank Classic Visa Cash Back is 8.25% (RM990/RM12,000).

MAYBANK 2 CARD

So, together with the 5X Treats Points, the effective cash back rate you can earn is more than 5% if you spend exactly RM1K on Saturday and Sunday. Let us now calculate the effective cash back rate based on RM1K spending on weekends:

i) Cash Back Portion 

Spend RM1K with the MBB 2 AMEX on Sat and Sun every month and you will earn yourself RM50/month which equates to RM600 a year in cash back with RM12K spending.

ii) Treats Points Portion Equivalent Cash Back

Also with RM1K spending a month, you will earn yourself 60,000 Treats Points a year (5K TP/month). Effective August 2013, you will need 12,500 Treats Points to redeem RM50 cash voucher (previously it started from as low as 9700 TP). So with 60,000 TP earned with RM12K spending a year, that's like getting 4.8 pieces of RM50 cash voucher or RM240.

iii) To deduct Annual Fee

This card is FREE FOR LIFE without any conditions :)

iv) To deduct GST RM100 (Effective 9 July 2014)

You can also use 25,000 Treats Points to redeem for the RM100 GST which will be credited into your account. But for this calculation, since I have showed above that I have redeemed the full 60,000 TP for cash vouchers, we shall assume that we will pay this RM100 GST.

v) Maximum Effective Cash Back Rate for RM1K spending a month with MBB 2 AMEX 

Actual cash back earn a year = Cash Back Earn on weekends PLUS cash voucher redeemed using Treats Points DEDUCT RM50GST = RM600+RM240-RM100 = RM740

Therefore the MAX Effective Cash Back for the Maybankard 2 AMEX in percentage = 6.16% (RM740/RM12,000).

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