CIMB Bank has announced that its CIMB e Credit Card will no longer be able to earn Bonus Points (BP) for any e-wallet transactions, starting from 1 January 2024.

At present, those who are holding the CIMB e Credit Card are able to earn up to 12x BP for online retail, e-wallet, auto-billing, and contactless transactions, and a flat 1x BP for other retail (offline or in-store payments). Come 1 January, they will no longer be awarded any points for e-wallet payments, although the earning rate remains unchanged for all the other transactions.

Here’s a table to detail the update that is set to take place next year, in comparison to the current earning mechanics:

	Before 1 January 2024	1 January 2024 onwards
Spend categories	12x BP (on 28th of every month (eDays)) – Online retail – E-wallet expenses – Auto-billing – Contactless payments (in-store) 3x BP (on ordinary days) – Online retail – E-wallet expenses – Auto-billing – Contactless payments (in-store)	12x BP (28th of every month (eDays)) – Online retail – Auto-billing – Contactless payments (in-store)   3x BP (on ordinary days) – Online retail – Auto-billing – Contactless payments (in-store)
	1x BP (all days) Other retail (offline/in-store payments)	1x BP (all days) Other retail (offline/in-store payments)

This revision comes at the heels of an earlier announcement made by CIMB back in July 2023, which removed the earning of any cash rebates, rewards, or bonus points for e-wallet transactions for all other CIMB credit cards – except for the CIMB e Card. As such, this latest development is likely intended to align things for all of CIMB’s card offerings.

That said, this revision is expected to significantly impact the value proposition of the CIMB e Card, given that it is currently marketed as “the only CIMB credit card that allows e-wallet top up to earn Bonus Points”. More importantly, it also deals quite a blow as it is now increasingly difficult to find credit cards in the market that reward e-wallet spend, given that a number of banks – such as Maybank, Public Bank, and now CIMB – have taken the step to remove all credit card perks for this particular spend category.

Other than this update, other features of the CIMB e Credit Card will remain the same. Its BP conversion rate is still maintained at 400 BP = RM1, and the BP rewards cap is also retained at 20,000 BP per statement cycle.

Along with this amendment to the CIMB e Credit Card, CIMB also announced that it will be revising the benefits of its CIMB Travel credit cards, including updating the amount of Bonus Points (BP) that you can earn for selected local transactions – among other things.

(Source: CIMB Bank)

• TAGS:
• Bonus Points
• CIMB
• CIMB Bank
• CIMB Bonus Points
• CIMB e Credit Card
• Credit Card Revisions