8th February 2023 - 3 min read
Affin Bank has announced that it is revising the benefits of its Affin Duo Visa Cash Back credit card, with the maximum monthly cashback that can be earned through the card set to be reduced. This revision is slated to take effect starting from 12 March 2023.
In the announcement, Affin Bank explained that the Affin Duo Visa Cash Back card – which is one half of the Affin Duo pair cards – will continue to offer 3% cashback on e-commerce/online, e-wallet, and auto-billing transactions. However, its existing cashback cap of RM50 and RM80 per month (offered depending on whether your previous balance has hit RM3,000 or more) will soon be reduced to RM50 or RM30 per month.
Here’s a table to help you better compare the existing and updated benefits for the Affin Duo Visa Cash Back card:
|Affin Duo Visa Cash Back benefits||Current cashback cap||New cashback cap (12 March 2023 onwards)|
|3% cashback for the following transactions: |
|– RM80 for cardmembers with previous balance of RM3,000 and above |
– RM50 for cardmembers with previous balance of less than RM3,000
|– RM50 for cardmembers with previous balance of RM3,000 and above |
– RM30 for cardmembers with previous balance of less than RM3,000
In addition to that, the sub-limit for e-wallet transactions will also be adjusted to RM30 come 12 March. Prior to this, this e-wallet cashback cap was set at RM50, introduced in a revision back in August 2022.
With this latest update, the Affin Duo Visa Cash Back card will also see its effective cashback rate reduced. Here are how the previous and new effective cashback rate for the card compare:
|Outstanding balance||Official cashback rate||Existing effective cashback rate||New effective cashback rate (12 March 2023 onwards)|
|Below RM3,000||3%||Between 1.67% and 3%||Between 1% and 3%|
|RM3,000 and above||3%||2.67% and below||1.67% and below|
In short, you can only earn the full 3% cashback rate for expenses up to RM1,000; any spending made on the card after that will only lower your effective cashback rate. Other features for the Affin Duo Visa Cash Back card, meanwhile, will remain unchanged. Its minimum annual income requirement is still set at RM24,000, while the annual fee remains at RM75 per year (waived for first three years, and with minimum 12 swipes in subsequent years).
As for the Mastercard half of the Affin Duo pair card, no changes are made at all to the Affin Duo Mastercard Rewards card. It will continue to provide 3x AFFIN Rewards Points for dining, grocery, and petrol expenses (unlimited).
Aside from announcing the upcoming revision, Affin Bank also revealed that the Affin Duo cards will soon be available as shariah-compliant cards as well. Interested individuals can apply for the Affin Duo Visa Cash Back card-i and Affin Duo Mastercard Rewards card-i starting from 1 March 2023. The Affin Duo Visa Cash Back card-i will follow the new cashback tiers described above.
(Source: Affin Bank)
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