Hong Leong targets to issue 100,000 cards within 3 years as it strengthens its position in the credit card segment. The new card offers flexibility for customers as they are allowed to get 10% cash back based on their preferred categories.
Update:
16/1/13
Just like Mach Credit Card, you can choose 2 out of 10 categories to enjoy the cash back:
No.
|
Categories
|
Merchants / Merchant Category
Code (MCC)
|
1
|
Mobile
|
Maxis, Celcom, Digi, U
Mobile and YES
|
2
|
Pharmacies
|
Watsons, Caring and Eu
Yan Sang outlets
|
3
|
Groceries
|
All grocery stores (MCC
5411)
|
4
|
Petrol
|
All petrol stations (MCC
5542)
|
5
|
Dining
|
All dining outlets (MCC
5811, 5812, 5814)
|
6
|
Departmental
|
Parkson, AEON, Isetan,
Metrojaya, Robinsons, Tangs, GAMA and Sogo outlets
|
7
|
Book Stores
|
MPH, Popular, Borders,
Kinokuniya, Times, Smart and BookXcess stores
|
8
|
Utilities
|
Electricity and Water
(MCC 4900)
|
9
|
Entertainment
|
All cinemas (MCC 7832),
Ticket Charge, Ticketpro, Red Box and Neway
|
10
|
Travel
|
All airlines (MCC
3000-3299, 4511), hotels (MCC 3501-3999, 7011), tour packages (MCC 4722,
4723)
|
Currently, the mobile category is given as bonus to customer, so each customer actually gets 2 + 1 = 3 categories. Cash back will be awarded based on Merchant Category Code (MCC) being assigned on each category. With minimum 10 swipes of RM 50 and above every month, customers are able to get 10% cash back in the chosen categories. The cash back is capped at maximum RM 100 monthly.
Annual fee will be waived for the first year with one swipe within 45 days of card approval. For subsequent year, annual fee will be charged as below:
Card Type
|
Annual Fees
|
Min Credit Limit
|
|
Main
|
Supplementary
|
||
Gold
|
RM 160
|
RM 80
|
RM 2000
|
Platinum
|
RM 300
|
RM 150
|
RM 12000
|
Rebate is calculated according to calendar month and will be credited to customers' account in the following month. Switching of each rebate category is possible with charges of RM 10, latest by 25th of each month and will be reflected in the following month.
In conjunction with the launch, new Hong Leong Bank customers who sign up for the Hong Leong Wise Credit Card will receive a waiver for the 1st year annual fee plus a RM50 cash rebate.
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