HSBC Amanah MPower Visa Credit Card-i
Empower your lives with this every day card that earns up cashback of up to 8% on certain expenses and enjoy exclusive discounts and offers with the HSBC Amanah MPower card.
Benefits of HSBC Amanah MPower Visa Credit Card-i
The HSBC Amanah MPower Visa Credit Card-I is a card that has been catered for everyday use. The main benefit of the card is that it provides cashback on petrol and grocery expenses and offers cashback at the rate of 2% capped to RM 30 a month when the cardholder spends up to RM 2000 a month and a cashback of 8% capped to RM 30 when the cardholder spends more than RM 2000 a month on groceries and petrol. Above cashback rates are only applicable at AEON Big, Giant, Mydin and Tesco. Other retail expenses at other outlets attract an uncapped 0.2% cashback. Cashback on petrol includes petrol from brands such as Petronas, Shell and Caltex. The MPower card also offers exclusive benefits and deals at over 6500 outlets across Malaysia
Features of HSBC Amanah MPower Visa Credit Card-i
The features of the HSBC Amanah MPower Visa Credit Card-I are as follows
- The card charges an interest rate of 15% p.a.
- The card is equipped with a 20 day interest free period
- The card is equipped with the HSBC cash instalment plan that allows cardholders to avail cash advances and can borrow on their available credit limit
- The card has a balance transfer plan that allows cardholders to pay off credit card dues at low interest rates for specific tenures
- The annual fees of the primary card is RM 95.40. The annual fees are however waived for the first year
- The annual fees for supplementary cards are RM 47.70
- The minimum payment to be made every month is either RM 50 or 5% of the outstanding amount
- Any late payments attract a penalty of RM 10 or 1% of the outstanding amount. This late fee is capped to a maximum of RM 100
- Cash withdrawals are allowed in this card where the daily limit of cash withdrawals is RM 5000 and the interest charged on cash withdrawals is 18% p.a.
The eligibility criteria of HSBC Amanah MPower Visa Credit Card-I are as follows
- The minimum age of the primary cardholder must be at least 21 years of age
- The minimum age of the supplementary cardholder must be at least 18 years of age
- The minimum annual income required to avail this card is RM 36,000
- Anybody who is employed either with a private company or is a government servant, meeting the age and income criteria can apply for this card
Balance Transfer Plan with HSBC Amanah MPower Visa Credit Card-i
The HSBC Amanah MPower card offers its cardholders a balance transfer plan that allows them to transfer outstanding credit card dues from other bank cards onto their HSBC card and pay it off in specified terms at low rates of interest. The available tenures of the balance transfer plan are 3 months at 0% interest, 6 months at either 1.99% p.a. or 3% upfront handling fee followed by 0% interest and 12 months at 6.99% p.a. The balance transfer plan requires a minimum transfer amount of RM 1000.
HSBC Amanah MPower Visa Credit Card-I Review
The card is catered to provide cashback on everyday expenses such as petrol or groceries. The card allows the holder to extract more savings from the daily expenses. The card is packed with customer service features such as internet and phone banking services to void long repayment queues, extra protection through SMS notifications and alerts and an auto bill payment service which allows cardholders to pay utility bills such as Phone and Astro bills through automatic payments.