Alliance Bank Significantly Devalues Visa Infinite and Visa Platinum

It’s barely mid-July and we’re already deep into devaluation season.

If you've been following Refined Points or subscribed to my newsletter, you’d know I’ve been sounding the alarm for months: Alliance Bank’s Timeless Bonus Points (TBP) were sitting on borrowed time.

I initially expected the axe to fall in Q1 2025—but it seems the inevitable got delayed to July. That said, it’s finally here, and it’s a bloodbath.

Note: There are no changes to the Alliance Bank Virtual Visa Platinum. This credit card still earns you 0.53 MPR on E-Wallet reloads, capped at RM3,000 monthly.

Let’s break it down.

Alliance Bank Slashes E-Wallet and E-Commerce TBP to Zero

Effective 1 August 2025, Alliance Bank will completely remove 8X TBP for E-Wallet reloads and e-commerce transactions across its Visa Infinite and Visa Platinum cards. This isn’t just a minor nerf—it’s a total wipeout of the one feature that made these cards even remotely relevant in the miles game.

Source: Alliance Bank

Previously, with a cap of RM3,000 monthly and 8X TBP on reloads, you could comfortably earn ~1,570 Enrich Miles per month after accounting for TNG E-Wallet’s 1% top-up fee. It was a reliable, rinse-and-repeat method to rack up Enrich Miles without contorting your spending habits.

But now? That hack is officially gone. And while 10X TBP (0.66 MPR) on overseas spend is worth mentioning, it's worthwhile considering how often you'll be travelling overseas, especially given the RM60,000 annual income segment.

Obtaining the AmBank Enrich Visa Platinum is probably a better fit, despite its lower overseas MPR rates, given that complimentary access to the Golden Lounges are on the horizon.

A Toothless Revamp for Visa Platinum

The Alliance Bank Visa Platinum—essentially the lower-income sibling of the Visa Infinite—isn’t spared either. While Alliance is trying to salvage its value by repositioning the card around daily spending, the outcome is lackluster at best.

The revamped Visa Platinum will now earn 5X TBP on MCC-locked categories such as dining, groceries, petrol, and essentials. But here’s the kicker: critical MCCs like 5811 (Caterers) and 5813 (Drinking Places) are excluded.

Why does that matter? MCC 5811 covers a wide range of mobile food ordering systems used in QR-code based restaurant ordering—something increasingly common in Malaysia. So even if you’re eating out, you may not earn the 5X TBP you were promised.

Translation: Don’t be surprised when your weekly café splurges or kopitiam QR-code meals don’t earn you anything extra.

My Take on the Devaluation

Let’s call a spade a spade: the Alliance Bank Visa Infinite is now utterly obsolete. No unique benefits, no competitive earn rates, and certainly no reason to keep it in your wallet.

As for the Visa Platinum, while it offers some niche earn potential on capped MCCs, the exclusions and ambiguity around category mapping make it a minefield. You shouldn’t need to guess whether a restaurant transaction earns points—it defeats the whole purpose of having a rewards card in the first place.

If you’re looking for a replacement, the Hong Leong Bank Sutera Visa Platinum is still alive and kicking with 8X points on nearly every essential category Alliance Bank once covered, including e-wallets. It’s a much better pick in the current landscape.

Final Thoughts

To all Refined Points readers—this is your sign.

Cancel your Alliance Bank Visa Infinite and Visa Platinum cards. Not tomorrow. Not next week. Today.

These cards have lost all meaningful value in the miles ecosystem, and keeping them now does more harm than good. They’ve gone from being flexible, high-utility tools to forgotten relics overnight.

The game has changed, and it’s time we adapt. There are better, smarter, and more rewarding options out there. Alliance Bank had a good run, but with this latest move, it’s time to walk away.