• CIMB CLASSIC MasterCard

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    CIMB Classic MasterCard

    CIMB Classic MasterCard Promotions

    • Get a discount of 10% on hotel bookings through AirAsiaGo website and Expedia until 31st December, 2016.
    • Pay 15% less on best available rates for a minimum stay of 2 nights at World Hotels up to 31st December, 2016. Also avail late check-out of 3pm, 300 Welcome Points and Gold Membership Status on registering for Worldhotels Peakpoints Guest Loyalty Programme memberships.
    • New FoodPanda customers can save 25% on food bills with the promocode CIMB25, and existing customers can get a 10% rebate with the promocode CIMB10. Orders should be between S$25 and S$50. Valid up to 31st December, 2016.
    • Avail concessions and exclusive deals at participating restaurants at Changi Airport – Azur, Bar’75, Lobby Lounge, Chutney Mary, Kaveri Indian Vegetarian, ambassador Transit Lounge, Bricco Café, Culto Caffe Cioccolato, Hard Rock Café and Rustichelli & Mangione, up to 31st December, 2016.

    CIMB Classic MasterCard:

    This is a low-cost card ideal for new credit card users, even unemployed students. With no annual fees and a low credit limit that prevents you from over-spending, this card can serve as your first and most-loved card. The card also offers deals and discounts like any other card, making sure that you don’t lose out on privileges just because this is a basic credit card.

    Joining benefits/perks:

    • Earn a cumulative cashback of a maximum of S$150 when you apply for 2 CIMB credit cards and spend at least S$300 every month for 6 months until 31st December, 2016.

    Features of CIMB Classic MasterCard

    • The card comes with a credit limit of S$500, allowing you to take control of your finance and spend wisely.
    • There is no annual fees on this card – ever.
    • The first-year annual fees for 2 supplementary cards is waived off.

    Benefits of CIMB Classic MasterCard

    • This credit card gives you discounts at more than 1,000 dining, shopping, health and wellness, and travel outlets throughout the countries that are part of the Association of South-East Nations (ASEAN).

    Fees and charges

    Annual fee Nil
    Supplementary card fee S$75
    Interest rate (annual) 25.5% p.a.
    Late payment charges S$80
    Cash advance fee 28% p.a.
    Interest on cash advance (annual) 6% of the amount or S$15, whichever is greater
    Interest-free period 23 days

    If minimum payment is not paid by the statement due date or more than 1 payment default is made, then the credit card interest rate rises to 28%.

     Transaction in foreign currencies

    Given below is the fee charged for transaction in foreign currency:

    • A fee of 1% is levied for transactions made in foreign currency
    • A fee of 1% is levied on transactions made in Singapore in Singapore currency but processed outside Singapore
    • An administrative fee of 1.4% is also levied by the bank for transactions in foreign currencies.
    • 1% is charged as Dynamic Conversion fee for the transactions.

    Cash withdrawals

    With the CIMB Classic MasterCard, you can withdraw cash in case of an emergency. You can take out money from your credit card, just like you would do using a debit card, from CIMB ATMs in Singapore or any MasterCard/Cirrus ATMs overseas, or from your nearest CIMB bank branch. You can withdraw up to 70% of your credit limit – which means up to S$350 for CIMB Classic MasterCard users. Remember that this comes at a cost of 28% interest annually, and a cash advance fee of 6% of the withdrawn amount.

    How to apply for CIMB Classic MasterCard

    You can apply for the CIMB Classic MasterCard directly from the CIMB bank website, or visit one of the CIMB branches. If you want more assistance but are not able to go the bank, you can leave your contact details on the website. The bank executives will call you and take your application forward.

    Eligibility criteria for CIMB Classic MasterCard

    • Minimum age:
      • Working adults: 21 years
      • Tertiary student: 18 years
    • Minimum income:
      • Working adult (Singapore citizens & permanent residents only): S$18,000 p.a.
      • Tertiary student: No minimum income restriction, but the customer’s parent or guardian must be a Singaporean citizen or permanent resident.

    Documents required:

    • Working adult, salaried:
      • Photocopy of NRIC (front and back)
      • Most recent computerised salary slips OR
      • Last 12 months’ CPF Contribution History Statement OR
      • Latest Income Tax Notice of Assessment (NOA)
    • Working adult, self-employed:
      • Photocopy of NRIC (front and back)
      • Income Tax NOA for the last 2 years AND
      • Bank statement for the last 3 months
    • Working adult, variable income earner:
      • Photocopy of NRIC (front and back)
      • Last 2 years’ Income Tax NOA OR
      • Last 12 months’ CPF Statement
    • Tertiary student:
      • Photocopy of NRIC (front and back)
      • Photocopy of the front of Student ID Card/Matriculation Card

    Repayments:

    You have to pay at least 3% of the credit card bill or S$50 (whichever is greater) every month. If you have any outstanding dues, you have to pay those too along with the current bill. There are 6 ways to pay your CIMB credit card bill:

    • CIMB Clicks Internet Banking – if you have a CIMB savings or current account
    • Auto Debit via CIMB Current/Savings Account
    • InterBank GIRO transfer if you have an account in another bank
    • By cheque, payable to “CIMB bank – credit cards”
    • Via cash at any CIMB branch
    • At AXS stations

    Reporting lost/stolen cards:

    The Association of Banks in Singapore (ABS) dictates that customer liability on lost or stolen card is only up to S$100. What you need to do when you discover your credit card as having been stolen, misplaced or lost, is to call CIMB immediately and report the lost card. The bank will block your card and prevent more transactions on it. If you suspect that the card has been stolen, inform the bank and report the theft to the police.

    However, this S$100 liability is revoked and full liability imposed if you are found to be party to the fraud, or the loss of card is due to your deceitfulness or negligence. So you need to ensure safe and secure handling of the credit card, both physically and virtually.

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