A Credit Card offering 10% Cash Back Rebates? Welcome to the new Hong Leong Wise Credit Card!
ringgitplus
13th March 2013 - 2 min read
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. | Categories | Merchants / Merchant Category Code (MCC) |
|---|---|---|
| 1 | Mobile (Bonus) | Maxis, Celcom, DiGi, U Mobile and YES |
| 2 | Pharmacies | Watsons, Caring and Eu Yan Sang outlets |
| 3 | Groceries | All grocery stores (MCC 5411) |
| 4 | Petrol | All petrol stations (MCC 5542) |
| 5 | Dining | All dining outlets (MCC 5811, 5812, 5814) |
| 6 | Department Stores | Parkson, AEON, Isetan, Metrojaya, Robinsons, Tangs, GAMA and Sogo outlets |
| 7 | Book Stores | MPH, Popular, Borders, Kinokuniya, Times, Smart and BookXcess stores |
| 8 | Utilities | Electricity and Water (MCC 4900) |
| 9 | Entertainment | All cinemas (MCC 7832), Ticket Charge, Ticketpro, Red Box and Neway |
| 10 | Travel | All 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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