8% Petronas cashback – Every first weekend of the month
5% Petronas cashback – Every other weekends
2% Petronas cashback – On Weekdays
0.5% cashback on other retail transactions Paid Out: Monthly Max cashback: RM50 / month Annual fee: waived for life Rate: 15-18% p.a. (should not matter if card used properly!) Card Issuer: MasterCard Min. income: RM24,000 p.a. (RM2,000 per month) Service Tax: RM50, use cashback to offset Service Tax
CIMB Petronas card is having a cashback promotion for the month of November and December. And what’s the promotion you ask? All CIMB Petronas MasterCard who purchase at Petronas on certain days (Weekends only) gets more cashback. Previously, the cashback rate was 2% for any Petronas and Mesra outlet purchases. For this promotion though, the cashback rate has been increased to between 5% and 8%, depending on your purchase days (within the campaign period of 15th October to 31st Dec 2012) :
8% : Every first weekend of the month – 20th and 21st October (!) / 3rd and 4th November / 1st and 2nd December 2012
5% : If used on any other weekend
2% : Weekdays (previous standard card rate)
0.5% : Any other retail transactions
Yp, the advertised 8% cashback rate is only for purchases made in the first weekend of the month! The cashback is capped at RM50 per month, ie. you can spend between RM625-RM1,000 on petrol on weekends. The maximum spending is RM2,500 per month (which tallies in with the usual 2% rate and RM50 limit).
While petrol cashback certainly sounds good, you could be getting cashback on all types of spending, to know the best cashback credit card out there, check out our “Best Cashback Credit Cards in Malaysia” article!