MAS American Express Card

photo source: http://www.maybank2u.com.my/



AMEX has came out with their latest commercial card. This is targeted especially for small business owners, to enable them to have the perks and privileges that usually large companies enjoy. For a regular user like me, I tried to enquire on the eligibility for the card, but unfortunately I was turned down. This card comes in either platinum or gold. The platinum requires you to have a company turnover of RM 5M or higher, while the gold card will be the choice for anything less than that.

Both cards are offering an annual fee waiver of the first year, but subsequently they may not do so. There is a possibility to call up AMEX to request for a waiver, but usually it depends on your spending style.

The benefits covers whatever a business owner would need in terms of higher rewards points (in this case, it’s the Enrich Miles) and also additional privileges during travel, on MAS of course. There will be an annual spend bonus with RM10k spent; platinum gives a 100% bonus while gold gives 50% bonus of the Enrich Miles. Cardholders will also enjoy a free upgrade in the Enrich Miles program; platinum enjoys an automatic Gold Enrich membership, while gold enjoys an automatic Silver Enrich membership. Only downside is this is complimentary up till 20months only, beyond that, there will be some other requirements to fulfill to continue. Points collection however doesn’t look that attractive, with every RM5 only earning 1 Enrich Mile. Overseas spending earns double of this figure, but this is still measly compared to other credit cards that enable airline points collection.

Use of both card types for MAS purchase gives 5% on all international flights departing from Malaysia and also up to 20% off prices in the Business Savings program. For travel, the platinum gives a hugely better privilege than the gold card. Platinum cardholders receive complimentary Golden Lounge access, while gold cardholders are only able to purchase access through the Golden Lounge Privilege program. Platinum cardholders also get a 50% excess baggage allowance and priority baggage handling, while gold only get a 5kg excess baggage allowance. Both cards however get to enjoy the priority reservation list, check-in, standby and boarding from MAS.

For both cards, you will get a 2000 Enrich Miles bonus on your first transaction and also 8000 Enrich Miles on your first purchase of a MAS ticket. These are free points equal to RM50k spending, so a great deal indeed, even if they don’t offer automatic yearly annual fee waiver.

My verdict: for business owners that requires frequent travel and need a card that can help them stretch their money further, this looks to be a good card to have. The gold card doesn’t seem to help much, but it’s still worth getting if you don’t qualify for the platinum version.

Maybankard 2 Cards

photo source: http://www.maybank2u.com.my/

Maybankard 2 credit cards was launched some time ago, but it is still an interesting addition to your existing card collection. There are 2 levels to choose from; Gold or Platinum. For Gold, you need to earn RM30k per annum, while Platinum requires RM60k per annum. The good thing about the cards is the lifetime fee waiver for the annual fees. It also provides 2 cards (1 American Express and 1 MasterCard or Visa) for the single charge of Government Service Tax. Of course, even with 2cards, the same credit limit applies, but you can enjoy benefits from the 2 different credit providers.

Usage of the AMEX card gives 5x TreatsPoints for every RM spent. This translates to 2.5% cash back for redemption of the gifts provided by Maybank. The AMEX card also gives 5% cash back for weekend spending, but capped at RM50 per month. Seems like a very good deal indeed, with the only minus point being that the use of MasterCard or Visa only gives 1x for every RM spent and the 5% cash back on weekends doesn’t apply. Well, you can probably use only the AMEX and use the other card as a bookmark J

This card also charges the lowest interest rate I’ve ever seen for a credit card – only 8.88% per annum. I guess Maybank must really like the number 8. Oh, but the 8.88% applies only if you pay the minimum 5% monthly, with a minimum of RM25.

This is where the similarity for both cards end. For the platinum card, it gives some additional privileges like travel insurance coverage and retail protection. These are especially good to cover unwanted costs if any mishap happens during times of travel. Platinum card also provides complimentary golf at some of the courses within Malaysia.

To apply, you can just fill up your details for an officer to get in touch with you. Typically they will call within 2 days to follow up on the application. Only thing is unlike other banks, where they just need your IC and existing card, Maybank requires your 3months’ payslip and also active savings/current account. A little overboard, but they’re probably just being cautious, what with the many folks out there now not really knowing how to control their finances.

My verdict: having the AMEX of this Maybankard 2 card combo is a good deal, with emphasis on the 5x TreatsPoints and the 5% cashback. Only trade-off with a normal AMEX card is that this gives Maybank TreatsPoints instead of American Express’ Membership Rewards points (these are evergreen!!) The additional card doesn’t seem to have much use, but it does come in handy when there are promotions specifically for MasterCard or Visa. Oh, just a reminder, if you need both MasterCard and Visa on top of the AMEX, then an additional RM50 (GST) will be charged.