HSBC Amanah MPower Platinum Visa Card-i
Truly 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 Platinum Visa Credit Card-i
The HSBC Amanah MPower Platinum Visa Credit Card-I is a card that has been designed to provide the cardholder real cash earnings through cashback on grocery and petrol expenses. The cashback on petrol and grocery expenses is at the rate of 2% capped to RM 50 a month when the cardholder spends up to RM 2000 a month and a cashback of 8% capped to RM 50 when the cardholder spends more than RM 2000 a month on groceries and petrol. Other retail expenses earn an uncapped 0.2% cashback and has no criteria for minimum spend. Cashback on petrol is applicable only at Petronas, Shell and Caltex brands of petrol. The MPower card also offers exclusive benefits through the HSBC VIP SmartPrivileges Programme and deals at over 6500 outlets across Malaysia
Features of HSBC Amanah MPower Platinum Visa Credit Card-i
The features of the HSBC Amanah MPower Platinum 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 up to 60% of their available line of credit.
- 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 254.40. The card is free for the first year and the annual fees will be charged from the subsequent years.
- The annual fees for supplementary cards are RM 127.20
- 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 which 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 cash withdrawal fee is RM 53
The eligibility criteria of HSBC Amanah MPower Platinum 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 meeting the required age and income criteria can apply for this card
HSBC Amanah MPower Platinum Visa Credit Card-i Balance Transfer Plan
The HSBC Amanah MPower Platinum card offers its cardholders a balance transfer plan that allows cardholders to conveniently pay off their outstanding credit card dues from other bank cards by transferring them onto the HSBC Amanah MPower Platinum card. The balance transfer plan has specific terms of repayment which are 3 months at 0% interest, 6 months at either 1.99% per annum, 6 months at 3% upfront handling fee followed by 0% interest p.a. and 12 months at 6.99% p.a. The balance transfer plan requires a minimum transfer amount of RM 1000.
Review of HSBC Amanah MPower Platinum Visa Credit Card-i
The card not only provides cashback on petrol and groceries from select outlets but a 0.2% uncapped cashback on all other retail expenses regardless of the spend amount. The card also has value added features that allow cardholders to conveniently make payments. The auto bill payment allows cardholders to automatically pay utility bills. The card also has premium benefits such as discounts at car rental services such as Hertz or Avis. It also offers golfing discounts at some of the finest golf courses across Asia.