OCBC Titanium Cash Back Changes

By -
cohdra_100_4264.JPG
By cohdra
(Morguefile)
I received a notice with my last OCBC credit card statement that they are revising the cash back rate from five percent in selected categories (and one percent for everything else) to a flat one percent for everything. As part of the change, they removed the cap of RM 50 per month cash back. What is not mentioned in the announcement was whether they are changing any other benefits for the card. The bank also removed another benefit of reimbursing the GST with an annual spending of RM10k and above.
 
Based on what I read on the Facebook page for OCBC, many customers are not happy with the change. Several customers threatened to cancel the card and encouraged others to do the same.
 
Based on my spending, the cash back will be substantially lower since my monthly cash back is well below the RM 50 limit with very few exceptions. However, based on what I know about other cards, the cash back is still one of the best in the market. Many of the other cards provide higher return but has terms and conditions.

One option for getting a higher cash back is to upgrade to their World MasterCard which has a 1.2% cash back rate. However, that card comes with a RM388 annual fee (waived on the first year). The additional 0.2% cash back will not be enough to offset the annual fee.
Although I am disappointed with the changes, it is expected, I have seen reduction of cash rebates by other companies as well, the last one was Smiles loyalty card. The deal was just too good to maintain.

Comments

Post a Comment

Popular posts from this blog

Removing Skin Tags

By -
Image
I do not remember when I skin tag first appeared on my neck. Skin tags may appear cosmetic, but I have some tags that feel sore, the kind of soreness that seem to come from the nerves. At first, I did not know what to do with the tags, but luckily for me, my wife came up with a way to remove the tags. She pulled a strand of her hair and tied the tag. The tag will turn black and fall off together with the hair. This approach was effective until my wife decided to shorten her hair and her eyesight started to deteriorate. Since then I tried looking for alternative ways of removing the skin tags. One of the approaches is to apply apple vinegar on the tags. I tried it, but it did not work for me, either because of the way I applied or because I had not applied it frequently enough (I applied it only at night because of the strong smell of the vinegar). I considered freezing the tag using hydrogen peroxide - treatment used to remove benign warts. The pharmacist recommended an alt
Read more

Anime Review: Rakshasa Street

By -
Image
I recently watch this anime that was in Mandarin with English subtitle. The story revolves between a girl and two brothers. She met him while crossing the road without looking. He knocked her down and caused him to lose the food he was delivering. This chance encounter explains why she calls him and why he calls her stupid girl. The anime consist of 24 episodes. The development was good, the first episode focus on her looking for a job as a fresh graduate at a job fair (where thousand of others are doing the same thing). Later she receives a text to attend an interview at night. While walking towards the interview, she looked around and realized that the building looked spooky. She then started thinking of why a company would call her for an interview so late in the night - human traffickers or organ traders. By then she was lost in Rakshasa Street filled with demon soldiers. Turns out that she is in a place for the dead and humans are forbidden there. I enjoyed the story.
Read more

Movie Review: Zootopia

By -
Initially I was not interested in watching Zootopia in the cinema, but my son expressed interest in the movie. However, he was too busy with a lot of other activities and was unable to go with us. Instead I took my daughter with me to the movie. We loved it, the storytelling was great, it has mystery, plot twist and humor. We are first introduced to Judy Hopps, a bunny who wanted to the first rabbit to join the police force, but both her parents did not support the idea. They preferred that she continued the family tradition and remain a carrot farmer. Most would have succumbed to the pressure and give up the dream but not Judy. Her partner is Nick Wilde a fox; Judy fell for one of his scams during their first encounter, but managed to blackmail him to help her later in the movie. The movie makes good use of stereotypes in the story, showing how societies prejudice pressures makes some of these stereotypes, self fulfilling (as in the case of Nick). Judy and Nick reminds me of 48 h
Read more