Standard Chartered offers Gold CashBack MasterCard which promoting up to 5% cashback per month for your retail spends. Here is the summary from iMoney.
| Minimum retail spend | Cashback % | Cash Back Cap | Eligible retail spend to reach the cap |
|---|---|---|---|
| RM 500 | 2 % | RM 10 | RM 500 |
| RM 800 | 3 % | RM 25 | RM 833 |
| RM 1,500 | 5 % | RM 50 | RM 1,000 |
The cash back is calculated based on all transaction except:
1. Insurance
2. Transactions made at petrol station/kiosk
Analysis
Similar to the Standard Chartered JustOne Platinum, this card also come with minimum spend and cash back cap.
As you can see from the graph, if you consider the rebate based on your total spending on the card, the effective rebate does differ a bit from original rates. It peak at 3.33% when you spend RM 1,500 in the billing month with at least RM 1,000 of eligible spending. After that point, the more you spend, the less effective rebate rate you will get.
Conclusion
If you are spending between RM 500 to RM 3,000 per month via credit card, you can enjoy a rebate rate of about 1.5 % to 3.3%. This can be a good card, from the perspective that it only restrict you from earning cashback via insurance payment and petrol station purchases. Do take note that there is an annual fee of RM 185.50. If this annual fee can be waived, you can earn up to RM 600 rebate per year with minimum RM 18,000 eligible spend on the card.
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