30th August 2021 - 3 min read
Maybank has launched a new campaign for its credit card holders, offering a generous sum of cashback and rewards points by meeting some spending criteria. This invite-only campaign has a second phase as well, where those who meet the spending criteria stand a chance to win Apple and Dyson products.
Under Tier 1 of the Maybank “Spend & Be Rewarded” Campaign, cardholders will receive guaranteed cashback or TreatsPoints/Membership Rewards points by meeting the spending requirements. Different cardholders will receive different offers, but according to Maybank, cardholders whose highest-tier cards with Maybank will receive cashback offers while those with rewards points cards will receive TreatsPoints will receive rewards points.
These cashback and rewards points are guaranteed, and is not a first-come, first-served affair like other campaigns. That said, this is an invite-only campaign, where only those who receive the SMS or email for this campaign will be eligible.
From what we’ve found, here’s a list of different offers under Tier 1 of this campaign:
Note that these rewards will be awarded on top of your existing card’s benefits, so those who receive the invitation and can meet the spending requirements will enjoy the additional benefits from this campaign. As always, e-wallet reloads are not eligible under the spending requirements (among other exclusions, which can be found in the T&C linked below).
As for Tier 2, cardholders who have met the spending requirements from Tier 1 will automatically be in the running to win one of three prizes: Consolation (Apple Watch Series 6 GPS + Cellular), First Prize (Dyson cordless vacuum), or the Grand Prize (Apple iMac 27 inch 5K Retina Display). There are a total of 300 prizes to be given away.
Those who have been invited to the campaign will have three months to complete the spending requirements, specifically from 15 August till 15 November. Meanwhile, Tier 2 will start from 15 October till 15 January 2022 – we assume winners will be announced after this date.
Based on our analysis, the cashback offers aren’t really much to shout about with effective returns between 1.67% to 2.22% – though if your spending pattern meets the spend requirements of this campaign, this will be a welcome bonus regardless. However, air miles chasers will be licking their lips at the bonus points on offer – that’s because the Maybank 2 Premier Cards have among the best rewards points to air miles conversion rates in Malaysia, which means these points can be quite valuable.
While the redemption rates vary between airlines, we generally value 1 air mile at 4 sen for Economy Class redemptions, and 8 sen for Business Class and above (though admittedly these are pre-Covid standards). Hence, those who receive the offer for 200,000 points with RM18,000 spending (the highest points to spend ratio among the four offers) are looking at 8.89% to 17.78% in effective returns, guaranteed! Of course, there’s the matter of when we can fly again…
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