Public Bank has announced that it is revising the features of all its credit cards to exclude e-wallet reload transactions from earning any card benefits, effective 16 February 2022. In addition, the bank is also introducing a new minimum spend requirement to earn cashback for the Public Bank Visa Signature and Public Bank Quantum Mastercard credit cards.
Currently, several Public Bank credit cards allow cardholders to earn cashback or cash rebates for e-wallet reloads under the online transaction category, such as the Public Bank Quantum Mastercard and the Public Bank Visa Signature. Come 16 February, Public Bank is effectively ending this double-dipping perk across all of its credit cards.
This update is reminiscent of Maybank’s move back in 2019, where the bank announced that all reloads performed on e-wallets using any of its cards will not be eligible for card rewards, including cashback and rewards points.
Aside from that, Public Bank is introducing a new minimum spend requirement of RM30 per transaction for the Public Bank Visa Signature and Public Bank Quantum Mastercard credit cards in order to earn its cash rebate and cashback rewards. Specifically:
Cards Revision as of 16 February 2022 Public Bank Visa Signature Spend a minimum of RM30 per transaction to earn 6% cash rebate on online, dining, and grocery transactions Public Bank Quantum Mastercard Spend a minimum of RM30 per transaction to earn 5% cashback on online transactions
Currently, cardholders of both the Public Bank Visa Signature and Public Bank Quantum Mastercard cards do not need to spend any minimum amount per transaction to earn the cash rebate or cashback rewards. This – along with the fairly generous cashback cap of RM38 (for Public Bank Visa Signature) and RM30 (Public Bank Quantum Mastercard) – has made both cards quite popular among Malaysians.
In the case of the Public Bank Quantum Mastercard card, the introduction of this minimum spend criteria will align its cashback earning requirement with that of its Visa counterpart in the Public Bank Quantum pair cards. The Public Bank Quantum Visa offers 5% cashback on contactless transactions, with a minimum spend requirement of RM30 (per transaction) already in place.
(Source: Public Bank)
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