29th August 2022 - 4 min read
(Update 19/10/2022: Public Bank has revised the benefits of the Public Bank Visa Signature card since this review was published. The contents of this review are no longer accurate.)
The Public Bank Visa Signature card has come a long way since it was first launched all the way back in 2014. While it has seen several revisions along the way, this card continues to reward users with 6% cashback for their expenses in three essential categories: dining, groceries, and online expenses.
But how does it fare today, especially with new cashback credit cards having been launched in recent years? Let’s dive in.
1) Cashback and VIP Points
In general, the core benefits of the latest version of Public Bank Visa Signature has not changed much; it continues to offer 6% cashback for three categories of expenses: grocery, dining, and online transactions. There is, however, a minimum spend requirement of RM30 per transaction that you must hit in order to be entitled to the cashback – which was introduced just in February this year.
Additionally, the online spend category no longer includes e-wallet reloads – it is purely for direct payments for online purchases that are charged to the card. This clause, too, was introduced in February 2022.
Meanwhile, the total cashback that you can earn is capped at RM38 per month, which means you earn cashback for up to RM633.33 in spending with this card.
As for other transactions outside of the three cashback categories, cardholders will be rewarded in the form of VIP Points. Every RM1 that you spend on other retail transactions will earn you 1 VIP Point, which can then be used to redeem air miles, gift vouchers, and other items from Public Bank’s redemption catalogue.
2) Bonus features
While cashback and VIP Points remain the key highlights for Public Bank Visa Signature, the card also come with several additional features that its value for cardholders. Chief of these are the travel and e-commerce benefits.
Specifically, cardholders will get 2x complimentary access to any Malaysia Plaza Premium Lounge in a year and up to RM500,000 travel insurance coverage per annum. There’s also online purchase protection (up to USD$200 per claim per annum) for instances such as non-delivery of purchased items, wrong or incomplete deliveries, and physical damage to the delivered items. Additionally, there is a 50% discount on will and wasiat writing service fees.
With a 6% cashback rate on dining, online, and grocery transactions, the Public Bank Visa Signature card is still considered a competitive cashback card for essential expenses. It is joined by newer alternatives, like the Citi Cash Back Card and Hong Leong Wise, but with a slight edge thanks to the inclusion of the increasingly-important Online cashback category.
In addition, there is no cashback cap per category like the two cards mentioned, which means you can earn the full RM38 cashback for any single category in a statement cycle. However, the introduction of the RM30 minimum spend requirement does make it less convenient to earn cashback, and lastly the monthly cashback cap of RM38 is lower than its peers.
Interestingly, we believe that the Public Bank Visa Signature is a good complement to one of the best cashback credit cards in Malaysia: the Public Bank Quantum Visa and Mastercard (read our review here). Popularly known as the dual cards that offer cashback for online (Quantum Mastercard) and offline (Quantum Visa) transactions, the Quantum cards both offer 5% cashback with a minimum spend of RM30, and a monthly cashback cap of RM30.
As such, the Visa Signature combines very well with the Quantum duo, allowing this trio of cards to earn cashback across a majority of transactions (except e-wallet reloads and petrol) and effectively doubling the spending that earns cashback with just a little advance planning. It is also worth noting that this card is one of the few cashback cards in Malaysia that bundles airport lounge access.
Finally, the Public Bank Visa Signature has an annual fee of RM388, but is waived with a minimum of 12 swipes annually. Note also that this card has a minimum annual income of RM80,000 or RM6,666.67 a month.
Ultimately, the Public Bank Visa Signature is a useful cashback card that lets you save on most of your day-to-day essential purchases both online and offline – but make sure that you meet the RM30 minimum spend requirement. For even better value, pair it with other cashback cards to continue earning cashback.
You can find out more about the Public Bank Visa Signature card here.
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No longer relevant from 1 october 2022. Will be cancelling the card
Terms have been revised in 8/Sep and effective on 1/Oct. No longer relevant. :-(
this should be revised because they just announced new features effective 1st October
Starting Oct 2022, the Public Bank Visa Signature will be revised to 3% cash rebate on grocery, dining and online transaction with minimum RM100 per transaction, capped at RM30 per monthly statement cycle.
PB Quantum Visa also will be revised to 2% cash back on contactless transaction with minimum RM100 per transaction, capped at RM20 per monthly statement cycle.