Hong Leong Bank has announced an upcoming revision to the Hong Leong Wise credit card, which changes the weekday and weekend cashback rate and the minimum monthly spend requirement.
The new changes, which will come into effect from 1 January 2025, will increase the weekend cashback rate for some spend categories to up to 15% as well as the maximum cashback for Dining category. On the other hand, the minimum monthly spend requirement to unlock the highest cashback rates has been increased from RM500 to RM1,000, and the weekday cashback rate revised from 1% to 0.5%.
The four cashback categories will remain unchanged: Petrol, Dining, Groceries, and Online (selected merchants only). With the revision, the Petrol, Groceries, and Online spend categories will see a higher 10% weekend cashback rate, while the Dining category will see the weekend cashback rate enhanced to 15%. However, the maximum cashback that can be earned per month is RM15 (for Petrol, Groceries, and Online) and RM20 (for Dining), which means a theoretical maximum cashback of RM65 a month (RM5 more than before).
With the changes to the cashback rewards and minimum monthly spend requirement, the effective cashback rate for this card will change from 8% currently to 6.5%, which still makes it one of the better cashback credit cards in the market.
(Source: Hong Leong Bank)
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