A Credit Card offering 10% Cash Back Rebates? Welcome to the new Hong Leong Wise Credit Card!

Everything you need to know about Hong Leong's new Wise credit card. Are the 10% cash back rebates for real? Is this marketing hype or can this really be the card that saves you a fortune on your shopping?

Hong Leong stormed the cash back rebate credit card segment today with their Wise Credit Card. This card is offering 10% cash back rebates on any two of the following categories. To sweeten the deal even more Hong Leong are throwing in the Mobile” category as a bonus.

No.CategoriesMerchants / Merchant Category Code (MCC)
1Mobile (Bonus)Maxis, Celcom, DiGi, U Mobile and YES
2PharmaciesWatsons, Caring and Eu Yan Sang outlets
3GroceriesAll grocery stores (MCC 5411)
4PetrolAll petrol stations (MCC 5542)
5DiningAll dining outlets (MCC 5811, 5812, 5814)
6Department StoresParkson, AEON, Isetan, Metrojaya, Robinsons, Tangs, GAMA and Sogo outlets
7Book StoresMPH, Popular, Borders, Kinokuniya, Times, Smart and BookXcess stores
8UtilitiesElectricity and Water (MCC 4900)
9EntertainmentAll cinemas (MCC 7832), Ticket Charge, Ticketpro, Red Box and Neway
10TravelAll airlines (MCC 3000-3299, 4511), hotels (MCC 3501-3999, 7011), tour packages (MCC 4722, 4723)

Hong Leong has even capped the cash back rebate at RM100, which is double the amount most cash back credit cards are currently offering.

As usual there are a few T&Cs which you need to be aware of:

  • Firstly, in order to qualify for the 10% rebate you need to make 10 retail transactions every month, each one with a minimum value of RM50.
  • Secondly, while you are allowed to switch your cash back rebate categories there is a RM10 charge for every switch you make.

If the whole thing still seems a bit confusing then check out this info-graphic from Hong Leong which shows how it works:

  Figure 1: RinggitPlus.com Hong Leong Wise Credit Card How It Works Info-graphic

The RinggitPlus team are really excited to see the banks giving more back to consumers so we owe Hong Leong a big thank you for this new credit card.

Following their great “Points for Cash promotion (which we recently reviewed), it is clear that Hong Leong is making a strong start to 2013. Check back later this week to see exactly how the Wise credit card compares to other cash back rebate credit cards.


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