As previously shared in my subscriber newsletters and my article on the teaser here, the AmBank Enrich Visa credit cards are now officially listed on AmBank's website.
Travel enthusiasts and frequent flyers with a penchant for maximizing their credit card benefits have reasons to cheer with the introduction of the AmBank Enrich Visa Platinum and Visa Infinite credit cards.
These cards are designed to cater to those who not only wish to earn generous reward points but also enjoy a plethora of travel benefits seamlessly integrated with Malaysia Airlines' frequent flyer program, Enrich.
Airline Miles Accumulation
Visa Platinum: For every RM4 spent locally, cardholders earn 1 Enrich Mile. Overseas expenditures are even more rewarding with a conversion rate of RM2 for 1 Enrich Mile.
Visa Infinite: The earning rate is elevated, with RM3 spent locally translating to 1 Enrich Mile, and a superior RM1 spent overseas earning the same.
On a sidenote, can you believe how delayed the launch of these cards were? I was still using my old Refined Points logo at that time!
Features and Benefits Overview
Annual Fee:
Visa Platinum: Waived for life.
Visa Infinite: Waived for first year. Subsequent years waived with minimum RM100,000 spend or half waived if RM50,000 spent.
Annual Income Requirement:
Visa Platinum: Ideal for the entry-level premium cardholder, this card requires an annual income of at least RM24,000.
Visa Infinite: Targeted towards more affluent consumers, this card demands an annual income of at least RM120,000.
Spend Illustration and Potential Mile Earnings
To provide a clearer picture of how beneficial these cards can be, let's delve into a simple spend illustration:
Visa Platinum: Suppose an annual spend of RM51,000, divided between local (RM36,000) and overseas (RM15,000) expenses, results in earning up to 16,500 Enrich Miles.
Visa Infinite: For the high spender, an annual expense of RM85,000, with RM30,000 locally and RM55,000 overseas, could accumulate an impressive 64,900 Enrich Miles.
The Huge Devaluation of Enrich Frequent Flyer Program
As I've mentioned in my article last week, the latest features of the AmBank Enrich Visa Platinum and Visa Infinite cards also highlight a significant issue: the devaluation of the Enrich Frequent Flyer Program.
Particularly concerning is the access to Malaysia Airlines' Golden Lounges—4X annually for Visa Platinum and unlimited access for Visa Infinite cardholders, including one guest.
This represents a substantial downgrade for Enrich Gold members. Worst of all, this is the second downgrade to Enrich frequent flyers in less than two months!
Traditionally, lounge access has been a highly valued perk reserved for frequent flyers; however, this new accessibility dilutes its exclusivity. Given that the lounges, especially the Golden Lounge Regional, are already notoriously crowded, this change is a disheartening development for loyal Enrich frequent flyers.
Perhaps the worst nightmare for Enrich Gold and Platinum members is that AmBank's new credit cards grants you 30% off the Elite Points required for reaching a certain Elite Status.
Now, previous holders of the CIMB Enrich World and CIMB Enrich World Elite credit cards might be wondering why I am disappointed with this despite CIMB's previous Enrich co-branded credit cards also offering these perks.
The reason is simple. The number of Enrich elites have risen exponentially since the Covid-19 pandemic. In fact, Malaysia Airlines granted higher Enrich elite status to those who haven't even met the requirements! This has been confirmed by numerous social media posts.
Hence, the situation is not as simple as it seems. Despite Ambank's newly launched credit cards simply following in the footsteps of CIMB, the overall situation with Enrich itself is a downgrade for the most frequent flyers.
How Does the New Credit Cards Fare Against the Competition?
The Ambank Enrich Visa Infinite has skyrocketed to the top of my Enrich Ultimate Guide table, beating the likes of the UOB PRVI Miles Elite.
Meanwhile, the Ambank Enrich Visa Platinum also fares decently well with the competition in its annual income range.
As this is meant to be a first look article, I won't dive into detail regarding combinations of credit cards for accumulating airline miles, as I'll leave that for my full review coming out soon.
Meanwhile, feel free to check out my Enrich Ultimate Guide page to compare the best credit cards for accumulating Enrich miles in Malaysia.
Final Thoughts
While the launch of AmBank's Enrich Visa Platinum and Visa Infinite credit cards is set to be popular, offering tempting benefits aligned with Malaysia Airlines, I hold a healthy dose of skepticism regarding their enduring value.
However, make no mistake that these credit cards are spectacular if you are a big fan of Enrich Miles. Let me make that clear before Enrich fanboys come bashing at me.
Given the recent devaluation of Maybank credit cards, it's clear the trend in the airline miles industry leans towards more cutbacks. With AmBank's current offering looking like such a good deal, I've been around long enough to suspect that there's no such thing as a free lunch.
Constant devaluations to Enrich Miles are not the only issue plaguing Malaysia Airlines. As they run a very tight fleet, especially on long-haul sectors, any issues with their A350s will likely result in aircraft swaps. While this is not uncommon in the aviation world, in the case of Malaysia Airlines, be prepared for the possibility of being downgraded to economy if you've redeemed business class.
Frankly, I do hope this card becomes popular, as it allows for more diverse competition across the airline miles space, but even more importantly, the success of this card will divert attention from more stable and rewarding frequent flyer programs like KrisFlyer and Asia Miles.
Let the masses flock to these new offerings, thinning the crowd and keeping the truly valuable programs like KrisFlyer or Asia Miles less congested.
