CIMB Platinum MasterCard
CIMB Platinum MasterCard promotions
- CIMB’s Great Giveaway Promotion 2016 has the following gifts up for grabs
- 20,000 gifts including S$20 CapitaVouchers, S$20 Dairy Farm Gift Vouchers, and Mandarin Oriental Singapore Chocolate Yule Log cakes. To avail this, charge S$300 to your card between 1st to 31st December, 2016, and 1st to 31st January, 2017, and take your original payment receipts (up to 2 per redemption) to the redemption centre between 1st December, 2016, to 7th January, 2017 and 1st January, 2017, to 7th February, 2017. You can redeem up to 3 times per cardholder and up to 9 times during the entire festival period.
- A staycation of 2 days and 1 night, worth at The Fullerton Hotel Singapore Courtyard Room. Only the first 100 primary card members in each month (December, 2016, and January, 2017) can avail this opportunity, and one has to spend S$15,000 on their CIMB credit card to be eligible. Send an SMS to 72008 in the format STAYCATION<space>Last 4 digits of Principal CIMB Credit Card Number. The registration has to be done either between 1st to 31st December, 2016, or 1st to 31st January, 2017.
- Processing fee for CIMB 0% i.Pay Plan is waived for the tenures of 5 and 10 months until 31st January, 2017. The minimum single transaction amount that can be converted into EMIs is S$500.
- Get a discount of 10% at Eraman Duty Free Shops in Malaysia up to 31st December, 2016.
- Save 10% on hotel bookings through AirAsiaGo website and Expedia until 31st December, 2016.
- Avail 1 free ride with Uber taxi app (with a maximum value of S$15) until 31st December, 2016.
- Special deals and discounts at participating restaurants – Azur, Bar’75, Lobby Lounge, Chutney Mary, Kaveri Indian Vegetarian, ambassador Transit Lounge, Bricco Café, Culto Caffe Cioccolato, Hard Rock Café and Rustichelli & Mangione – at Changi Airport. Valid up to 31st December, 2016.
CIMB Platinum MasterCard
This credit card gives you benefits such as discounts on flight and hotel bookings, dining, shopping, and health and beauty. A wholesome credit card that works for both families and single individuals, the CIMB Platinum MasterCard is an attractive card to have in your wallet.
- Until 31st December, 2016, get a total cashback of up to S$150 on applying for 2 CIMB credit cards and spending a minimum of S$300 every month for 6 months.
Features of CIMB Platinum MasterCard
- This credit card offers 0% administrative fee on foreign currency transactions. This means you can shop online using foreign currency or spend outside Singapore without worrying about additional charges.
- The principal card comes with a permanent annual fee waiver.
- You can get up to 4 supplementary cards for your family, and you don’t have to pay the first-year annual fee for 2 of them.
- 10% cash rebate on flight and hotel bookings
- 10% cash rebate on health and beauty & wellness
- 0.2% cash rebate on all other spend
While the 0.2% cash rebate is without any limit on how much you can earn in a month, the 10% rebates can be earned only by primary cardholders, and a maximum of S$60 each month. To be eligible for the 10% cash rebate you also need to spend at least S$500 in a month (statement month and not calendar month), or make at least 8 transactions of S$30 or more. However, any spending beyond the monthly ceiling on travel, health, beauty and wellness will earn unlimited 0.2% cash rebate.
Benefits of CIMB Platinum MasterCard
- You can go to the Changi Airport to catch your flight for free if you swipe your card for S$500 in a month, within 90 days of departure date. This can be availed only by the principal cardmember and you cannot avail this facility more than twice a year. The conveyance needs to be booked at least 5 days before the departure date by calling the CIMB Credit Cards Airport Transfer Service.
- You can avail dining, shopping and travel benefits not only in Singapore but also in Malaysia, Indonesia and Thailand, at around 600 partner outlets.
- The card also opens up the world of discounts and privileges offered by MasterCard.
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Instalment Payment Plans
CIMB offers a 0% i.Pay Plan, under which your transactions can be converted into zero-interest monthly instalments spanning 5 to 20 months. Single transactions of S$500 to S$1,000 can be repaid over a period of 5 to 10 months, while payments of S$1,000 and more can be converted into a 20-month tenure. The maximum single-transaction amount you can convert to instalments is S$30,000. Check with the outlet or the bank on which stores and transactions you can use this facility.
Interestingly, you don’t lose out on cash rebate even if you avail the 0% i.Pay Plan, unlike in with the credit cards of many other banks. These transactions will earn you the additional 9.8% cash rebate in the month following your purchase, while 0.2% cash rebates will be given each time you make an instalment payment. The processing fee charged on the conversions is listed below, though this processing fee is waived for 5 and 10-month periods until 31st January, 2017
Fees and charges
|Supplementary card fee
|Interest rate (annual)
|Late payment charges
|Cash advance fee
|Interest on cash advance (annual)
||6% of the amount or S$15, whichever is greater
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.
There are 2 kinds of cash loans you can avail from your CIMB Platinum MasterCard. Cash withdrawals from your credit card can be made either at any CIMB bank branch or from CIMB ATMs in Singapore or any MasterCard/Cirrus ATMs outside the island. You can withdraw up to 70% of your credit limit. A cash advance fee of 6% of the amount, subject to a minimum of S$15, and an interest rate of 28% p.a. is applicable. Interest is calculated on a daily basis. You can withdraw not more than S$5,000 per day.
Another option is CIMB CashLite, which is a personal instalment loan. This plan offers low interest rates and a repayment period of 1 to 5 years. You can seek up to 80% of your credit limit as loan, with a minimum loan of S$1,000. If you end the CashLite loan before the chosen tenure ends, you need to pay an early termination fee of 3% of outstanding principal amount or $250, whichever is greater. You need to apply for CashLite with your bank. The interest rate on CashLite is as given below
||Effective interest rate
How to apply for CIMB Platinum MasterCard
To apply for CIMB Platinum MasterCard, you need to either visit one of the CIMB branches or submit an application online. On the CIMB website, you can either apply directly for your chosen card or leave your contact details and get the bank executives to call you and help you with the application.
Eligibility criteria for CIMB Platinum MasterCard
- Principal cardholder 21 years
- Supplementary cardholder 18 years
- Minimum income
- Singapore citizens & permanent residents S$30,000 p.a.
- Singapore citizens & permanent residents aged 55 or more S$15,000 p.a.
- Foreigners S$48,000 p.a.
- Alternatively, you could hold a minimum Fixed Deposit account of S$10,000 with the CIMB to be eligible for a CIMB Platinum MasterCard.
- Photocopy of NRIC (front and back)
- Most recent computerised salary slips OR
- CPF Contribution History Statement for the last 12 months OR
- Latest Income Tax Notice of Assessment (NOA) AND CPF Contribution History Statement OR the most recent computerised payslips
- Photocopy of NRIC (front and back)
- Last 2 years’ Income Tax NOA AND
- Bank statement for the last 3 months
- Variable income earners
- Photocopy of NRIC (front and back)
- Last 2 years’ Income Tax NOA OR
- Last 12 months’ CPF Statement
- Photocopy of valid passport
- Utility bills confirming your address
- Latest Income Tax Notice of Assessment (NOA) AND/OR the most recent computerised payslips
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
Lost/stolen card liability
If you have lost your credit card or it is stolen from you, you do not have to pay for the transactions made on the card after it has left your person. The maximum liability in such a case is S$100. But to avail this minimal liability, you need to inform the bank about the loss immediately and register a police complaint if the card was stolen or the PIN was forced from you. The bank also needs to be convinced that the loss of credit card was not due to your carelessness, and that you have no hand in the fraudulent use.
Reporting lost/stolen cards
You can report your stolen or lost card by calling the CIMB phone banking or customer service hotline. The credit card will be blocked once you inform the bank, and no further transactions are possible on the card. You may also have to send a written note to the bank about the loss, along with the police complaint, if applicable.
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