CIMB Islamic PETRONAS Master Credit Card
This Islamic credit card from CIMB is a commuter’s delight with up to 7% cashback on petrol expenses incurred at Petronas stations.
CIMB Islamic PETRONAS Master Card Benefits
The CIMB Islamic Petronas MasterCard Is an Islamic concept credit card that is catered to provide maximum benefits to the frequent commuter or anybody who incurs high petrol costs every month. This card provides cashback of up to 7% on petrol expenses at Petronas when cardholder spends more than RM 3000 in a single receipt. This cashback is capped to RM 50 per month. Expenses on petrol below RM 3000 in a single receipt fetches cashback at the rate of 3% which is also capped to RM 50 per month. Any other retail expense fetches uncapped cashback of 0.2%.
CIMB Islamic PETRONAS Master Card Features
The features of the CIMB Islamic Petronas MasterCard are as follows
- The interest rate charged on this card is 15% p.a.
- The card has a 20 day interest free period
- The card has an Easy payment for large retail purchases with interest rates starting at 0%
- The card has a Balance transfer plan with interest rates starting at 5.99% p.a.
- This primary card and supplementary cards both have no annual fees and are free for life
- The minimum monthly payment to be made is 5% of the outstanding amount.
- The card has a cash withdrawal fee of RM. The daily cash withdrawal limit is RM 5000. Withdrawals attract an interest rate of 18% p.a.
- Cardholders can utilize CashLite service to avail cash advances on their available credit limit
- Late payment penalty is 1% of the outstanding amount
CIMB Islamic PETRONAS Master Requirements or Eligibility
The eligibility criteria to apply for the CIMB Islamic Petronas MasterCard are as follows
- The minimum age of primary cardholder is 21 years of age
- The maximum age of the primary cardholder must be 65 years of age
- The minimum age of supplementary cardholder is 18 years of age
- The minimum annual income required to apply for this card is RM 24,000
- Only Malaysians can apply for this card
Other Credit Cards Offered CIMB Islamic
The other credit cards offered by CIMB Islamic are
- CIMB Islamic MasterCard Gold
- CIMB Islamic UKM MasterCard
CIMB Islamic PETRONAS Master Balance Transfer
The CIMB Islamic Petronas MasterCard offers a balance transfer plan for cardholders to manage their credit card dues effectively. The balance transfer plans come with tenures of 6 and 12 months at 5.99% p.a. and 7.99% p.a. respectively. The tenures come with a minimum amount for transferring balances set at RM 1000.
CIMB Islamic PETRONAS Master Review
The card allows for maximum savings for the cardholder. Not only does it have a lifetime waiver on annual fees, the card provides cashback of 0.2% on all retail expenses. This cashback is unlimited. The card also provides capped cashback of up to RM 50 for petrol expenses at Petronas stations. The card being an Islamic card does not charge an APR but a yearly facilities charge or YFC of RM 7200. This YFC may be waived in full if the cardholder repays outstanding dues and does not require the cardholder to pay this amount upfront.