In my review of the CIMB e Card, I strongly recommended it to high-income earners for a singular, compelling reason.
The distinctive feature of this card in the Malaysian market was its ability to award Bonus Points for e-wallet top-ups. Given the widespread adoption of e-wallet transactions in Malaysia, especially among small businesses that accept e-wallets but not credit cards due to transaction fees, this feature was groundbreaking.
It offered a unique avenue for accumulating points, indirectly translating to air miles, which was otherwise unattainable. Particularly noteworthy was the 28th of each month, when CIMB awarded an exceptional 12X Bonus Points on every ringgit added to e-wallets, up to RM1,500.
This meant an opportunity to earn an impressive 18,000 Bonus Points monthly with a mere RM1,500 top-up in your Touch N' Go E-Wallet. To put this in perspective, even the CIMB Travel World Elite credit card, the premier card for air miles, provides only 10X Bonus Points per RM1 spent.
Hence, for a day each month, the CIMB e card's benefits surpassed even the best travel credit cards.
Regrettably, this advantage is now being withdrawn. CIMB has declared the discontinuation of Bonus Points for e-wallet reloads, severely diminishing the card's utility. Starting 1 January, e-wallet transactions will no longer accrue points, although other transaction categories will maintain their current earning rate.
Considering the card's RM100 annual fee, my advice is to redirect your spending to other basic credit cards, as the CIMB e card's unique selling point is no longer viable. My previous endorsement was based on leveraging the 12X bonus points available on the 28th of each month.
With this benefit ceasing from 1/1/2024, it's prudent to cancel the card and explore other options, given that its remaining features offer minimal value.
