cimb credit card

Best CIMB Credit Cards 2022 – Find Your Perfect Credit Card

A CIMB credit card can offer customers cashback rewards, access to CIMB deals discounts on luxury goods, and much more. But with several different CIMB credit cards on the market right now, which one is right for you?

CIMB has a tried and tested reputation compared to other Singapore banks. This trusted banking giant offers everything from cashback credit cards and home loans to insurance, investments, and other financial products. You’re never more than a few CIMB clicks away from extra cash or highly-rated CIMB cards when you need them.

Right now, the best CIMB credit cards range from the CIMB Visa Signature Card and CIMB Platinum Mastercard. With a 10% cash rebate across multiple spending categories to the CIMB World Mastercard, it is perfect for leisure-conscious travelers with a high foreign spend.

In this article, Instant Loan reviews the ins and outs of every CIMB credit card on the market, helping you decide which one is best for you. 

Three Reasons People Choose a CIMB Bank Credit Card

There are several reasons Singaporeans seeking a new credit card might opt for a CIMB Bank credit card. From flexible credit limit options to low processing fees and free travel, insurance, the best CIMB credit cards have an awful lot to offer to consumers. That said, benefits will always range from CIMB cards to CIMB cards. Here are the top perks most CIMB cards have in common:

No Annual Fee Costs to Worry About

While credit cards offered by almost all other banks charge an annual fee just for the privilege of using their financial products, all CIMB cards – whether CIMB Visa or CIMB Platinum Mastercard – come with no annual fees for life. As other banks tend to offer one or two year annual fee waivers at best, this is a significant advantage over competitors.

CIMB Offers, Discounts and Rewards

The best CIMB credit cards are well known for offering cardholders a lot of bang for their buck. While some offer unlimited cashback on overseas spends or superb cash rebate potential to customers who dine out regularly, others offer CIMB deals discounts and more at retailers across Singapore, Indonesia and Malaysia.

CIMB Sign-Up Offers and Exclusive Deals

All the best credit cards in Singapore advertise sign-up offers to attract the attention of new customers, but CIMB offers some especially good exclusive deals across its flagship credit cards. For example, the CIMB Visa Infinite Card offers all customers complimentary travel insurance, while the CIMB World Mastercard offers unhindered access to Mastercard Airport Experiences.

 

Best CIMB Credit Cards – Comparing the CIMB Credit Card Market

Whether you’re looking for cashback credit cards, online shopping, and travel perks, or the best cash rebates for students, there’s probably a CIMB Bank credit card out there that’s got you covered. Let’s look at what each flagship CIMB credit card in Singapore is offering to customers right now:

CIMB Platinum Mastercard – Best for Cash Rebates

The CIMB Platinum Mastercard offers a cash rebate rate of 10% on all overseas spend, transport spend, dining spend and medical spend. This market-leading cashback rate even extends to select purchases on electronics and home furnishings, too.

Perhaps the top unique selling point of the CIMB Platinum Mastercard, however, is its medical cashback. This spend category, which very rarely makes it onto the cash rebate list of even the very best credit cards in Singapore, enables CIMB Platinum Mastercard customers to earn 10% cashback on anything from dental check-ups and doctors’ visits to personal care products. We also love the fact that foreign currencies transactions and overseas spend earn big with this card.

That said, customers should be aware that there’s a cashback cap of $200 per calendar month with the CIMB Platinum Mastercard, which is shared across eligible spend categories at just $20 per category. This means that CIMB Platinum Mastercard holders need to be cautious when racking up rewards.

Key Features

  • Enjoy a 10% cash rebate rate on overseas spend, medical, transport and dining spend
  • Pay no annual fee with your CIMB Platinum Mastercard
  • Get a further 10% in cash rebates when purchasing select home furnishings and electronics
  • Enjoy a CIMB 0% interest pay installment plan

 CIMB World Mastercard – Best for Big Leisure Spenders

Just like the CIMB Platinum Mastercard and all other flagship CIMB credit cards, this popular credit card charges customers no annual fees whatsoever. Better yet, the CIMB World Mastercard offers unlimited cashback across several luxury goods spending categories, including wine, dining, online food delivery, and digital entertainment – all of which attract a cash rebate rate of 2%.

Unlimited cashback is also available on all other general spending, too, but at a slashed rate of just 1% – making this card a better fit for luxury goods and leisure-conscious consumers, rather than regular spenders who want to save on groceries.

If you’re a frequent traveler, you can also enjoy Mastercard Airport Experiences, as well as 50% off green fees at golf courses across Singapore, Malaysia, and other Asian countries. In short, if you want to live a high life, this is the CIMB credit card for you.

Key Features

  • Earn unlimited cashback on wine, dining, online food delivery, digital entertainment, taxis, and luxury goods at a competitive 2% rate
  • Get unlimited cashback at 1% on groceries and all other everyday spend
  • Claim 50% off green fees at golf courses in Singapore, Malaysia and across the continent
  • Access the Mastercard Airport Experiences scheme

CIMB Visa Signature Card – Best for Beauty and Pet Lovers

The CIMB Visa Signature Credit Card is yet another CIMB credit card that charges no annual fees – but this one is more geared toward everyday spenders. CIMB Visa Signature customers can claim a 10% cash rebate rate on all purchases related to groceries and online shopping, as well as any transactions made at pet shops or on cruises.

happy asian woman shopping with credit card

In total, you can rack up $1,200 per annum worth of savings, with a $100 cashback cap enforced per calendar month. That said, you will need to exceed a minimum spend requirement of $800 every statement month in order to keep on earning.

Just like the CIMB Platinum Mastercard, your cashback cap is spread evenly across all eligible spending categories, meaning you can only earn a maximum of $20 per month on groceries, online shopping, beauty, pet shops, and cruises respectively. Before you apply online for this card, you’ll want to ensure you can definitely meet its spending requirements.

Key Features

  • 10% cash rebate rate across groceries, online shopping, beauty, pet shops and cruise spending
  • No annual fee payable for CIMB Visa Signature customers
  • CIMB’s 0% interest pay installment plan is available
  • CIMB Visa Signature customers also get free travel insurance and a global concierge

CIMB Visa Infinite Card – Best for High-Spending Travelers

The CIMB Visa Infinite Card is one of the most popular CIMB Visa cards on the market – and with good reason, too. CIMB Visa Infinite Card holders get unlimited cashback across tons of spend categories, paid out at a cash rebate rate of 2% on online shopping, online spend, and overseas spend, as well as 1% on general or everyday spend.

Admittedly, these rates are a little on the low side, but with no minimum spend requirement and unlimited cashback available, the sky really is the limit for high-spending CIMB Visa Infinite customers.

As far as we’re concerned, the CIMB Visa Infinite Card is also a great fit for frequent travelers, too. This is because, on top of all that cashback available on foreign currency and overseas spend, customers also get complimentary travel insurance and airport lounge access thrown in for good measure. Sadly, however, you will need an annual income of more than $120,000 to apply.

Key Features

  • Earn 2% cashback on overseas spend, online shopping, travel, and online spend in foreign currencies
  • Get a further 1% cash rebate on all other everyday spend
  • Enjoy free travel insurance, limo transfers, and airport lounge access
  • Pay no annual fee and take advantage of the CIMB 0% interest pay installment plan

CIMB AWSM Card – Best for Student Cash Rebates

Both students in Singapore and regular working adults earning $30,000 or less can apply for a CIMB AWSM Card, which offers unlimited cashback across several popular spending categories.

Cashback is limited to just 1%, but dining, entertainment, online shopping, and telco bills are all eligible for rebates. What’s more, this is one of few CIMB cards that comes with no minimum spend requirements, while cardholders get to access CIMB deals discounts and more in Singapore, Malaysia, Indonesia, and beyond.

Key Features

  • Pay no annual fee with your CIMB AWSM Card
  • No minimum spend requirement enforced with this CIMB card
  • Low-income individuals earning up to $30,000 can apply
  • Exclusive deals and discounts available to all cardholders

 Important Things to Be Aware of Before you Get a CIMB Credit Card

When it comes to rewards, rebate rates, and terms and conditions, all CIMB credit cards are slightly different. Before you apply online, it’s important to ensure you fully understand what to expect from your CIMB credit card. Here are the key things you need to know that apply to most cards: 

CIMB Cashback

Some CIMB credit cards, such as the CIMB Platinum Mastercard, the CIMB AWSM Card, and the CIMB Visa Signature Credit Card, are what’s known in the industry as “cashback credit cards”. This means cardholders will receive rewards in the form of cashback when they make eligible purchases.

With these types of credit cards, it’s important to be aware of which spending categories are and aren’t eligible for the best cashback rates. For example, the CIMB Platinum Mastercard grants a bonus of 10% cashback on medical, transport, dining, and foreign currency spending, while other types of spend will attract cashback at a lower, more basic rate of just 0.2%.

Regardless of which credit card you choose, the basic CIMB cash rebate rate is usually credited monthly within the same statement month – while the remaining “bonus points” funds accumulated are credited a month later. For example, with the CIMB Platinum Mastercard, you’d earn 0.2% in the same statement month you make your qualifying purchases and 9.8% the following month as bonus points (totaling 10%).

Activating Your CIMB Credit Card for Overseas Spending

Virtually every CIMB Bank credit card can be used overseas for foreign currency transactions, though as we’ve already seen, some cards may offer more benefits to frequent travelers than others.

You should always make sure your CIMB credit card has been properly activated before you travel abroad. This can be achieved either by calling (65) 6333 6666 or by using your CIMB internet banking account to request a verification SMS. This is an essential requirement – especially if you want to use your CIMB card for “swipe” transactions in Malaysia, China, Japan or other foreign countries where foreign currencies purchases are required.

CIMB Singapore Support Services and Credit Card Hotline

If ever you encounter any problems with your CIMB Visa, CIMB Platinum, or any other type of CIMB credit card, don’t panic, because CIMB offers plenty of support services for most credit cards.

The CIMB website and CIMB Clicks internet banking app should be your first ports of call when experiencing difficulties. Alternatively, you can call +65 6333 6666 any time of day or night, or email [email protected] for assistance if your query is urgent.

CIMB also has branches in Raffles Place and on Orchard Road, which are open from 9am to 4:30pm and 10am to 8pm almost every day of the week, respectively. You can find out more about CIMB contact options here.

Comparison – CIMB Credit Cards vs Alternatives

CIMB offers an exceptional selection of credit cards to suit several different kinds of consumers, but sometimes other banks might be offering a credit card that’s a little better suited to your tastes – so you should always compare the market.

Naturally, CIMB perks such as free travel insurance and exclusive deals will only really benefit a specific type of cardholder, but what can a typical Singapore credit cardholder spending $2,000 per month expect to get out of a CIMB credit card?

Taking rebates and annual fee savings into account, here’s what some flagship Singapore credit cards might earn you over the course of two years:

 

Bank / Credit Card Type

 

Estimated Two-Year SGD Value to Consumer

 

Annual Fee Cost
CIMB Visa Infinite Credit Card

 

$456 N/A
Standard Chartered SingPost Spree Card

 

$670 $192.60 (annual fee waiver for first two years)
CIMB World Master Card

 

$684 N/A
OCBC Frank Card

 

$964 Automatic annual fee waiver
CIMB Visa Signature Credit Card

 

$1,138 N/A
CIMB Platinum Mastercard

 

$1,138 N/A
Citi Cash Back Card

 

$1,148 $192.60 (annual fee waiver for 1 year)

 

POSB Everyday Card

 

$1,724 $192.60 (annual fee waiver for 1 year)

 

Maybank Family and Friends Card

 

$2,007 $180

 

This comparison identifies a market average saving of $722 over the two-year period studied, suggesting that the majority of CIMB credit cards on the market right now are a bit of a mixed bag when it comes to rebate and annual fee savings.

Ultimately, the CIMB Platinum Mastercard and CIMB Visa Signature Credit Card offer the most potential to consumers of CIMB’s financial products, but competitor products such as the Maybank Family and Friends Card, POSB Everyday Card and Citi Cash Back Card are certainly worth considering.

woman holding credit cards

Other Important Things to Know About CIMB Credit Cards

How Do I Register for CIMB Clicks Internet Banking?

CIMB offers an easy-to-use online banking platform and mobile app called CIMB Clicks. You can sign up for this by downloading an application form here, filling in the required fields and sending it back to CIMB.

How Do I View My Credit Card Statements?

For most credit cards, you can view a digital copy of “e-statement” covering each statement month online quickly and easily with CIMB. Simply create an ibanking or CIMB Clicks account here, log in and select “Sign Up for E-Statement” when prompted.

What is My CIMB Credit Limit?

Your CIMB limit will vary depending on which type of CIMB credit card or CIMB balance transfer card you have signed up for. Most credit cards will allow you to increase your limit if required. More information about this can be accessed here.

What is the Process for Terminating My Card?

If you need to cancel or terminate a CIMB credit card, you can do this by calling CIMB’s 24/7 hotline at +65 6333 6666.

Which CIMB Credit Card is Best for Lower Earners?

The CIMB AWSM Card is available not just to students, but to Singapore residents with an annual income of $30,000 or less, too – making this credit card a great option for lower earners. 

Conclusion – Which CIMB Credit Card is Best for You?

CIMB Bank offers several attractive financial products to Singapore residents looking for a new credit card – but each of these CIMB credit cards offers different benefits, terms, and conditions to the last. So, before deciding which credit card is best for you, be sure to keep in mind that:

  • All CIMB credit cards come with no annual fee costs, but you may still be expected to pay processing fees and other charges when using your card.
  • Not all cashback cards offer unlimited cashback – you may need to abide by a monthly cashback cap and hit a minimum spend before you can start saving.
  • Credit cards offering a high CIMB cash rebate rate will usually restrict their best rate to specific spending categories, such as online shopping, groceries or transport. Make sure the stated categories suit your interests.
  • Other banks and competitor credit cards might offer a better deal to someone in your unique financial position, meaning you should always compare the market before you apply for one of CIMB’s financial products.

Here at Instant Loan, we like to share all the latest news regarding credit cards, personal loans, and home loans with our readers. We also offer a loan comparison service that enables you to connect with the best licensed moneylenders in Singapore with the click of a button. Take advantage of our three free loan quotes today!

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