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CIMB Platinum Mastercard Review
Earn 10% cashback across five spending categories with this no annual fee card.
Important note. In May 2021, CIMB Platinum Mastercard ceased issuance of new CIMB Platinum Mastercard Credit Cards. Existing cardholders will continue to enjoy the programme’s benefits.
Just like any other cashback credit card, the CIMB Platinum Mastercard offers unlimited base tier cashback at 0.2% on all transactions. If you charge at least S$800 on the card during the statement month, you’ll be eligible for 10% rebates on five bonus categories: wine and dine, health and medical, transport and petrol, electronics and furnishing and travel expenses only made in foreign currency. Both principal and supplementary cards are also free for life.
Compare the features and fees of the card to determine if it is right for you.
Finder does not currently have access to this credit card provider. Please review the product details, application criteria and terms and conditions on the provider website if you are considering applying for this product.
Benefits of using the CIMB Platinum Mastercard
Here are some of the features you can expect with the CIMB Platinum Mastercard.
- 10% cashback over five spending categories. Earn 10% cashback when you spend in wine and dine, health and medical, transport and petrol, electronics and furnishing, and travel expenses (for airlines, hotels, travel agencies, and railways) in foreign currency. However, the total cashback you can earn is capped at S$100 per statement month and up to S$20 per category. Also, you’ll need to spend at least S$800 in the same statement month to qualify for the 10% cashback.
- Transit ready with SimplyGo. The CIMB Platinum Mastercard can be used for fare payment via card, mobile or wearable payment (Apple Pay, Fitbit Pay, Google Pay and Samsung Pay), so you can just tap and go for public bus and train rides without the hassle of carrying extra transit cards.
- Unlimited 0.2% cashback in all spend. Earn 0.2% cashback on all other eligible spend, at no minimum spend or monthly cap.
- No annual fee. Both principal and supplementary cards are free for life.
Features of the CIMB Platinum Mastercard
The card also comes with competitive features such as:
- e-Commerce protection. Under the e-Commerce Purchase Protection Insurance by Mastercard, all online purchases you’ve made on your CIMB Platinum Mastercard are protected against non-delivery and defects if the seller fails to reimburse you, up to US$200 p.a.
- Apply for up to 4 supplementary cards. Extend the card benefits to your loved ones with up to 4 free supplementary cards.
- CIMB 0% i.Pay Plan. Ease the burden of your purchases by opting for 6, 12 or 24 months interest-free instalment plans. Note that a one-time processing fee of 3% of transaction amount applies for 6- or 12-month tenures and 5% of the transaction amount applies for 24-month tenure.
- CIMB cardholder perks. Frequent travellers to Malaysia and Indonesia can benefit from CIMB’s exclusive network of over 1,000 partners across dining, retail and lifestyle.
How to apply for the CIMB Platinum Mastercard
If you’ve compared your options and decide to apply for the CIMB Platinum Mastercard, you can do so via MyInfo if you’re a SingPass holder. This fast, simple and secure application process will help retrieve and pre-fill your personal details and income information. Alternatively, you can also manually complete an online application which will only take approximately 10 minutes.
Before applying, make sure you meet the eligibility requirements and have the necessary information on hand:
- Earn at least S$30,000 p.a. if you’re a Singaporean or permanent resident; or $15,000 p.a if you’re aged 55 and above
- Fixed deposit collateral of at least S$10,000 if you don’t meet the income requirements
- Have a good credit rating
- Be at least 21 years of age
Frequently asked questions
A credit card with no annual fees and offers 10% cashback across five bonus spending categories does sound like an irresistible deal. Before applying, make sure to compare your options and ask yourself if you’re able to maximise your rewards from this card with your spending habits. If you’re not likely to meet the minimum spend, or rarely transact in the categories with elevated earn, the is little point in applying for it.
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