Fresh pressed out of the credit card oven comes the RHB Signature Credit Card. A Visa Signature card with a slight twist - it offers cash back on both domestic and international spending, a feature relatively unheard of in the Malaysian Signature credit card scene. But how does it stand up against the competition?
At first glance you’ll see the advantage of the RHB card. Uncapped cash back at 1% on all … wait for it… online and overseas spending.
The cashback for all other spending is set at a lower 0.5% capped at RM200 per month per customer (still one of the highest caps in the market for general cash back cards).
Other perks include Visa Signature’s ‘signature’ free Plaza Premium Lounge access in Malaysia four times a year and discounted access to other airport lounges worldwide. This alone is worth over RM400. You will also enjoy golfing benefits at over 8 golf courses in Malaysia.
True to its travel card branding, the RHB Visa Signature gives you up to RM2 million in travel insurance coverage and complimentary membership with luxury hotel groups such as Langham Hospitality Group, Visa Hotel Club and Visa Signature Luxury Hotels Collection. As is to be expected, the Visa Signature Concierge will be at your service for all your travel needs (booking, itinerary arrangements, etc). Similar concierge services would charge you over RM1000 for an annual membership.
Luxury for less
This card is aimed at a slightly higher income set, the minimum approved credit limit is RM30000 and minimum income requirement is RM100000 per annum.
Free annual fee
Annual fee is chargeable at RM636 for principle cardholders and RM318 for supplementary cardholders. After the first year you can waive your annual fee by charging RM50000 onto your card every twelve months. However, the annul fee is subjected to 6% GST.
The RHB card’s uncapped cash back for overseas spending is a good deal if you are a frequent traveller and find you spend a lot overseas. The additional 0.5% for domestic spending may not appear like much but should add up over the year. A yearly spend of RM30000 overseas (RM2500 per month) and RM30000 domestic (another RM2500 per month) will give you RM450 in cash back a year and waive your annual fee. That’s a good cash back rebate when considered alongside the other premium benefits offered.