Following CIMB's recent decision to increase the airline miles conversion threshold by 500% for its credit cards, the bank has now announced significant changes to its Visa Infinite and Visa Signature credit cards.
To recap, CIMB revamped these cards in May, halving the minimum income requirement for the CIMB Visa Infinite from RM120,000 to RM60,000 per annum.
This new RM60,000 income bracket is already competitive, especially when compared to other airline miles credit cards like the UOB World Card, UOB PRVI Miles Card, Alliance Bank Visa Infinite, and HSBC TravelOne Mastercard.
Note: At the time of writing, these updates do not affect the CIMB Preferred Visa Infinite, which maintains its capping on certain merchant categories.
CIMB's Tiered Bonus Structure
One of CIMB's main value propositions is its unique tiered bonus structure, which grants a lump sum of Bonus Points upon meeting a minimum spending threshold each month.
Recently, CIMB made adjustments to this feature, with both the CIMB Visa Infinite and Visa Signature now offering uncapped Bonus Points across all spending categories. Previously, certain merchant categories had caps, limiting the amount of spending that qualified for the tiered bonus structure.
For instance, the CIMB Visa Infinite would grant 7,500 Bonus Points when spending at least RM3,000 per month. However, if the entire RM3,000 was spent on groceries, only RM2,500 (the cap for grocery spending) would count towards the required threshold, while the remaining RM500 would not.
This could be somewhat confusing, but you get the idea. CIMB has now removed these caps entirely, so if you spend RM3,000 on groceries, the full amount will count towards your spending required for the lump sum of Bonus Points.
The minimum spending thresholds for the CIMB Visa Infinite remain unchanged. You'll still receive 7,500 Bonus Points for spending RM3,000 monthly, and 15,000 Bonus Points for spending RM5,000 monthly.
CIMB Updates Lounge Access for Visa Infinite & Visa Signature
In addition to these changes, CIMB has also announced a reduction in the number of lounge access passes granted per year.
CIMB Visa Infinite cardholders previously received 8x access to Plaza Premium's global network of lounges per year, but this has now been reduced to 5x per year. Lounge access passes are renewed upon reaching a minimum spend of RM60,000 per annum.
As for the CIMB Visa Signature, cardholders still receive 2x access to Plaza Premium Lounges per year, but the renewal requirement has been lowered from RM100,000 to RM36,000.
The previous spending requirement for the CIMB Visa Signature was clearly excessive, so these recent changes appear to be more of a final touch on the overall revamp of CIMB’s Visa credit cards.
My Thoughts on These Changes
To start, I believe it's a positive move that CIMB has removed the caps on certain merchant categories that count towards the tiered bonus. However, it's worth noting that these caps were reasonable in the first place.
A RM2,500 cap is sufficient to prevent the exploitation of the tiered bonus structure and is certainly more reasonable than the UOB World Card's RM300 cap on each E-Wallet transaction.
The biggest beneficiaries of this change will likely be those who spend a significant amount on insurance each month, as the previous RM2,500 cap on insurance spending was a considerable barrier for some.
Regarding the changes to lounge access, there's not much to add, given that 5x lounge access for the CIMB Visa Infinite aligns with several other credit cards in the RM60,000 annual income bracket.
It would have been nice to see something unique, like access to the Plaza Premium First lounge with a minimum monthly spend requirement of RM5,000. Currently, only the CIMB Preferred Visa Infinite and the CIMB Travel credit cards offer access to the Plaza Premium First at KLIA Terminal 1.
Final Thoughts
CIMB's recent changes to its Visa Infinite and Visa Signature credit cards represent a mixed bag of benefits and drawbacks.
While the removal of caps on spending categories is a clear win for those looking to maximize their Bonus Points, the reduction in lounge access passes may be seen as a setback for frequent travelers. That said, CIMB's adjustments bring these cards more in line with the broader market, particularly within the RM60,000 income bracket.
For potential cardholders, the decision to choose CIMB's Visa Infinite or Visa Signature should now hinge on how well the uncapped bonus structure aligns with your spending habits, and whether the reduced lounge access still meets your travel needs.
Overall, CIMB's tweaks reflect an ongoing effort to refine their offerings, making them more competitive and accessible while balancing the rewards with realistic spending patterns.
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