The Hong Leong Bank Sutera Visa Platinum offers a solid option for entry-level credit card users.

 

Although it lacks the prominence of its counterpart, the Alliance Bank Visa Platinum, primarily due to a less competitive points earning rate, the Sutera Visa Platinum still presents certain advantages.

 

This review will delve into the specific benefits that make this card worthwhile, particularly for those not in the lower income brackets.

Before delving into the specifics of the Hong Leong Bank Sutera Visa Platinum, it’s important to underscore the inherent challenges of accruing significant airline miles, particularly for cardholders in lower income brackets.

 

Credit cards designed for those with an annual income below RM60,000 typically offer less advantageous miles earning rates. While there are exceptions, such as the Alliance Bank Visa Platinum, realistic expectations for reward redemptions are crucial. For instance, aspiring for a business class ticket to London may be impractical with cards aimed at this income level due to their lower miles accrual rates.

 

Instead, setting sights on regional rewards might prove more fruitful. The Sutera Visa Platinum categorizes its points accrual into three segments: Online Spend/E-Wallets, Groceries, and Dining.

 

Considering that points earned from E-wallet reloads are equivalent to local spend—since E-wallets can be used almost anywhere in Malaysia—this card does offer some strategic value.

 

However, a significant limitation is its high threshold for airline miles conversion. Hong Leong Bank allows conversions only to Enrich Miles, requiring a steep 24,000 points for just 1,000 Enrich Miles. This equates to a necessary expenditure of RM3,000 to gain 1,000 Enrich miles. For someone with an annual income of RM36,000, or approximately RM3,000 per month, this means potentially dedicating the entirety of one’s monthly income to achieve a meaningful reward accumulation by year’s end—an admittedly daunting prospect.

Regarding overseas spending, the Hong Leong Bank Sutera Visa Platinum offers the same 8X points as it does for most local expenditures.

 

However, this rate is comparatively low when matched against other cards in the same income category that are designed for international use, making it less appealing for such transactions. It’s important to consider the likelihood of a typical cardholder of this product traveling abroad frequently.

 

Presumably, the average user may only travel internationally once or twice annually, suggesting that the overseas accrual rate should not be a primary concern when evaluating this card.

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For expatriates working in the ASEAN region who travel often, this card may not meet their needs due to its lower benefits for international spend. In such cases, alternatives like the CIMB Travel Platinum Mastercard, which offers superior overseas mile-per-ringgit (MPR) rates and more favorable conversion thresholds, would be a more suitable choice.

Annual fees are a significant factor for consideration within this income bracket. For clarity, I've included a comparison table below. Notably, I have excluded Maybank credit cards from this comparison due to their recent devaluation, which significantly impacts their viability for accruing airline miles.

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Despite its moderate mile-per-ringgit (MPR) rates for its income category, the Hong Leong Bank Sutera Visa Platinum is not the top choice for accumulating airline miles. A more effective strategy would be to utilize a combination of the Alliance Bank Visa Platinum and the CIMB Travel Platinum Mastercard. If international travel is rare for you, consider opting solely for the Alliance Bank Visa Platinum.

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Does this render the Hong Leong Bank Sutera Visa Platinum entirely obsolete? Not necessarily. It could serve as a decent option for those who spend over RM6,000 monthly on E-Wallet reloads, especially if they have already maxed out the rewards on other cards like the Alliance Bank Visa Platinum and Visa Infinite.

 

Surprisingly, substantial rewards can accumulate through regular E-Wallet reloads, whether for toll payments or investments in schemes like Touch N Go E-Wallet's GoInvest. In such cases, the Sutera Visa Platinum can offer modest benefits. However, any airline miles accrued with this card will likely have a minimal impact overall—perhaps just an additional 1,000 to 3,000 Enrich miles annually. Yet, this is still preferable to earning nothing.

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Another critical point is the overall performance of Hong Leong Bank's credit cards in the context of airline miles accrual. Generally, they do not stand out, particularly at higher tiers such as the Hong Leong Bank Visa Infinite, which offers subpar mileage accrual rates relative to its income requirement.

 

This raises an important question about the long-term viability of starting your airline miles journey with Hong Leong Bank, especially considering the possibility of accumulating miles that could eventually become stranded as other competitors introduce more attractive options.