CIMB launches Cash Rebate Platinum MasterCard

Stocks and Financial Services Press Releases Friday July 26, 2013 10:06
Kuala Lumpur--26 Jul--Asian Banker

Kuala Lumpur, July 17th 2013 - CIMB Bank has recently launched the CIMB Cash Rebate Platinum MasterCard, a credit card that rewards cardmembers for shopping online while offering a competitive cash rebate programme for other retail purchases. In addition to a 2% cash rebate on groceries, petrol, mobile and utility bills, cardmembers can earn 5% cash back on all online spend and enjoy discounts of up to 25% with leading online malls and retailers. As an introductory offer, from now until December 2013, cardmembers will also enjoy rebates of 20% for airline tickets, iTunes and Google Play music, movies and applications, as well as GSC cinema movie tickets purchased online.

"With more people going online to shop because of the convenience and range of choices, CIMB Bank wants to give our cardmembers an easy payment solution that would also reap plenty of savings and rewards for online purchases as well as daily spending," said Renzo Viegas, Group Deputy Chief Executive Officer and Head of Consumer Banking, CIMB Bank.

"Research has shown that a substantial proportion of credit cardholders prefer cash rebates and merchant discounts - the CIMB Cash Rebate Platinum MasterCard was designed with this in mind. Not only do we offer our cardmembers one of the best cash rebate programmes in the market, but we worked with our online merchant partners, key departmental stores and restaurants to secure discounts that are only available with the CIMB Cash Rebate Platinum MasterCard," added Viegas.

Viegas also commented that when it comes to online shopping, Malaysia is well on its way - ranking seventh in Asia on the AT Kearney 2012 e-Commerce Index. The outlook for the online market is looking bright with total online transactions in Malaysia expected to surge past RM1.9 billion by 2016, more than double the RM842 million recorded in 2011 according to Euromonitor International. Travel, in particular, is a fast-growing segment and the CIMB Cash Rebate Platinum MasterCard makes it more rewarding with an additional 20% cash rebate for airfare booked online.

In addition to the rewards and discounts, the CIMB Cash Rebate Platinum MasterCard offers 10% cash back on monthly interest paid on the outstanding balance, provided that payments are received on time, which is among the highest in the market. (July 26 2013)--

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