28th August 2020 - 3 min read
As promised in its teaser earlier this week, Affin Bank has officially launched the Affin Duo, a Visa-Mastercard pair of credit cards that offer cashback and rewards points respectively. The Affin Visa Cash Back Card offers 3% cashback on online, e-wallet, and auto-billing transactions, whereas the Affin Mastercard Rewards Card gives 3x Affin Rewards Points on dining, groceries, and petrol spend.
The Affin Visa Cash Back offers cashback on e-commerce/online transactions, e-wallet reloads/transactions, and auto-billing. These cashback categories are attractive to say the least, given the current popularity of online and e-wallet transactions. Moreover, there are precious few credit cards that offer cashback on utilities these days.
Affin’s FAQ lists as many as 20 e-wallets that are eligible for cashback, from the popular players like Boost, GrabPay, BigPay, and Touch ‘n Go eWallet, to smaller wallets like Sarawak Pay and Presto Pay. As for auto-billing transactions, the Affin Visa Cash Back sets out a quite a general definition of payments falling under this category, with utility bills, telco bills, and online monthly subscriptions such as Spotify, Netflix, and iflix given as examples.
Furthermore, the 3% cashback is capped at a generous RM80 a month, which means that cardholders can get cashback returns on up to RM2,667 worth of spend each month. And lastly, there is no minimum spend amount required to unlock these cashback benefits.
You can get 3x Affin Rewards Points for every RM1 spent on dining, groceries, and petrol transactions using the Affin Mastercard Rewards Card – categories of expenditure that are generally considered the “essentials” in a regular household.
Cardholders will be glad to know that is no limit on the number of points that you can earn using the Affin Mastercard Rewards Card each month. As for points expiry, Affin Rewards Points expire after 3 years from the points issuance date – pretty standard for most rewards credit cards.
We’ll be taking a look at the Affin Rewards catalogue to provide you with some calculations on how much each rewards point is worth, and how to best use this card to your advantage – so keep a look out for our in-depth review on the Affin Duo cards soon.
The Affin Duo has an annual fee of RM75 for each card; this is quite a reasonable amount, but made better by the fact that it is free for the first three years and subsequently waived upon 12 retail transactions of any amount per annum. It’s also available to those with a minimum annual income of RM24,000 or RM2,000 per month, so even fresh grads should be able to apply.
Interestingly, the Affin Duo is also quite similar to Affin’s other cashback credit card – the Affin Visa Signature. Launched last year, the card has quite a fair amount of synergy with the new Affin Duo (Cashback in particular): 3% cashback on contactless transactions capped at RM80 per month, and a similar design language with half the card being translucent.
Coupled with the straightforward card benefits for both cashback and rewards, it does seem like the Affin Duo is shaping up to be a very attractive pair of credit cards – but it joins a club of dual-cards that have proven extremely popular: the Maybank 2 Cards and the Public Bank Quantum cards. Will it be just as successful? We’ll break it down in our review.
In the meantime, more information on the Affin Duo cards is available on the Affin Bank website.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world