Bank Simpanan Nasional (BSN) has launched a new credit card called the BSN Visa Cash Back credit card, which provides cardholders with up to 5% cashback when they spend on groceries, dining, and petrol. The card is a tiered cashback card, allowing you to reap more than RM45 cashback each month if you do maximise its benefits.
To qualify for the 5% cashback rate for the three categories, you will need to hit a minimum retail spend of RM3,000 each month. Otherwise, you will only earn a cashback rate of 0.2% (monthly spend of up to RM999.99) or 1% (monthly spend of between RM1,000 to RM2,999). Note as well that the cashback is capped at RM15 for each category per month.
Aside from that, BSN’s new cashback card also offers unlimited 1% cashback for overseas spend and 0.2% cashback for other local retail purchases. Unlike the cashback rate for groceries, dining, and petrol, these rates do not need to be unlocked via a minimum monthly spend and have no monthly cap. However, cashback will not be granted for selected transactions, including donations, charities, and government-related payments.
|Total monthly retail spend||Groceries, dining, and petrol||Other retail expenses||Overseas spend|
|RM1 – RM999.99||0.2%||0.2%||1%|
|RM1,000 – RM2,999||1%|
|RM3,000 and above||5%|
|Monthly cap||RM15/category each month||Unlimited|
At the BSN Visa Cash Back credit card’s highest tier for groceries, dining, and petrol, the effective cashback rate of the card stands at 1.5% (assuming a monthly spend of RM3,000 with a cashback cap of RM45). The cashback earned in the current month will be credited into the cardholder’s credit card account in the following month.
On top of the cashback benefits, BSN cardholders will also receive various other additional perks, such as access to general Visa Platinum privileges, as well a complimentary travel insurance coverage of up to RM300,000 and a BSN Zing PLUSMiles Card. This is in addition to other regular deals offered by the bank, including easy payment plans with 0% interest.
The BSN Visa Cash Back credit card is free for life, with no conditions attached. To apply, you need to have a minimum income of RM48,000 per annum, or a monthly income of RM4,000. For more information, you can head on over to BSN’s website.