cimb visa infinite

CIMB Visa Infinite: For Frequent Travelers, Cashback Seekers

The CIMB Visa Infinite Credit Card has the best options available for frequent travelers from Singapore that love maximizing their dining experience during vacations and business travels. The attractive 2% unlimited cashback on all travel and foreign currency spending and zero annual fees make it one of the best cards for travel. However, this is only true if you can afford its high minimum yearly income and monthly spending requirement. Read more on the best credit cards in Singapore.

Does the CIMB Visa Infinite cut through the enormous sea of travel rewards credit cards? Know it from this detailed review.

Key Features

  • No annual fees forever
  • Minimum monthly spend of S $2,000
  • 23-day interest-free period after paying bills in full
  • 25.9% yearly EIR
  • 28% yearly EIR for cash advances
  • S $100 late payment charges
  • 6% cash advance fee with a minimum amount of S $15

 

Benefits

Travel

You get 2% unlimited cashback on all spending during travel anywhere in the world with your CIMB Visa Infinite. Travelers also get a 25% discount on selected dining establishments worldwide. 

Plus, you get free complimentary travel insurance coverage and access to Visa Airport Lounges three times per year. Cardholders have a 5% discount on airport limousine transfer and meet and greet services. You can use Visa Infinite’s Concierge Services, too.

Online Shopping

If you’re online shopping-savvy, you get 2% unlimited cashback on all online purchases using foreign currencies. 

Local Spend

You get a 1% unlimited cashback for all other spending, including local online and offline spending in all categories with your CIMB credit card. You can also exchange your 

Personal Finance

You can use the CIMB 0% interest i.Pay installment plan that can act as your CIMB balance transfer at any time. 

Pros and Cons

Pros

  • No annual fees
  • Travel-friendly perks including free travel insurance, airport lounge access
  • 2% travel and online spending using foreign currencies are generous.

Cons

  • 1% local unlimited spending can be a turn-off for non-travelers
  • Very steep minimum income and minimum monthly spending requirements
  • Overshadowed by other signature Visa cards with lower minimum income and monthly spending requirements.

How CIMB Visa Infinite Compares with Other Credit Cards in Singapore

Here’s how CIMB Visa Infinite contends with other rewards and cashback credit cards available in Singapore.

 

Credit Card Minimum Income Requirement Annual Interest Rate Cashback Cashback Cap Minimum Monthly Spending Rewards
CIMB Visa Infinite S $120,000 (for Singaporeans and PRs only) 25.90 1-2% Unlimited S $2,000
  • No annual fees
  • 2% cashback on all travel and overseas spend
  • 2% cashback on online spend in foreign currencies
  • 1% cashback on all other spend
  • Free travel insurance
  • 3 complimentary access to airport lounges
  • Access to Visa Infinite Concierge 
  • 25% discount on selected dining establishments worldwide.
  • CIMB 0% Interest i.Pay Instalment Plan
HSBC Advance Credit Card  S $30,000 (S $40,000 for Foreigners) 25.90 1.5-3.5% S $70 for non-HSBC Advance customers None
  • 1.5%-3.5% cashback on all purchases
  • 1 HSBC point per S $1
  • First annual fee waived.
  • Exchange 15 points for 1 air mile in blocks of 5,000 points
  • Get exclusive perks as HSBC Advance customers
HSBC Premier Mastercard Credit Card S $30,000 (S $40,000 for foreigners) 25.90 5%  S $150 per month S $600
  • Earn 1 HSBC point per S $1
  • Get discounted rewards in the HSBC shop
  • Travel issue and personal accident insurance
  • 5% cashback on groceries, petrol, and travel spend
  • Exclusive Mastercard curated deals and offers.
  • Huge S $150 per month cashback cap
Standard Chartered Unlimited Cashback Credit Card S $30,000 (S $60,000 for foreigners) 26.90% 1.5% Unlimited None
  • The first two years annual fees waived
  • Unlimited cashback and caps
  • 1.5% cashback on all purchases with no caps
  • 22.61% Caltex Fuel Savings
HSBC Revolution Credit Card S $30,000 (S $40,000 for foreigners) 26.80% 2.5% Unlimited None
  • 4 miles or 10 points per S $1 spend online and via contactless payments (airlines, food delivery, and retail)
  • 0.4 miles (1 point) per S$1 on all other spend (non-contactless payment)
  • No minimum spend requirement and no annual fee
  • 16% off petrol at Caltex and 14% off at Shell

What We Think Of The CIMB Visa Infinite

Based on this table, the CIMB Visa Infinite has the highest minimum income requirement and monthly spending for customers versus other cards. Despite other Visa cards having annual fees and similar interest rates per annum, it overshadows the CIMB Visa Infinite in cashback rates, rewards, and available perks.

In addition, the table also shows CIMB Visa Infinite’s lack of miles rewards points from all your spending, which is an essential feature of virtually any travel-oriented credit card with cashbacks or rewards. This means that your frequent travels and spending doesn’t receive any miles points that can give you free flights in the near future.

Is The CIMB Visa Infinite Card Perfect For You?

Today, travel is a luxury, and a credit card that rewards you for frequently doing it and spending cash while traveling is an excellent tool to save money. If you’re traveling all the time for work and leisure, the CIMB Visa Infinite is a great alternative to your go-to cards, but it’s highly likely unable to replace any travel card that you’ve used before.

The CIMB Visa Infinite has limited rewards for your travel fees, which makes up a huge chunk of your travel budget. You can save money with the 2% foreign spending cashbacks, which can count as miles and rewards points. However, if you don’t always eat outside during your travels, you can’t maximize this card to your advantage.

Alternatives to CIMB Visa Infinite

multiple credit cards

CIMB Visa Infinite is a great card by itself. However, here are some alternatives you might want to consider if their benefits are appealing to you.

HSBC Premier Mastercard Credit Card

This Mastercard credit card from HSBC gives you exclusive Mastercard privileges in many local and international hotels. Like CIMB Visa Infinite, you get comprehensive international travel and personal accident insurance. in addition, you can get cash rebates up to 5% for all your local grocery, gas, and commuting expenses.

Standard Chartered Unlimited Cashback Credit Card

Standard Chartered gives you a cashback and rewards credit card in one with the Unlimited Cashback Credit card. You have a base 1.5% flat cashback, but every S $1 in your cashback is equivalent to 1 SC point that you can redeem in SC’s dedicated points shop. For example, if you spent S $500, you can get S $7.50 and 7 SC points simultaneously. You can spend your SC points on discount vouchers, but you also have exclusive discounts from various shops, such as a 21% fuel savings discount in Caltex.

HSBC Revolution Credit Card

This HSBC card gives you the best perks for local and international dining, grocery, and other expenses. Plus, you can earn many benefits using its contactless payment services. HSBC Revolution gives you 1 HSBC point for every S $1 you spend virtually anywhere. Then, you can exchange it for cash credit vouchers ranging from S $50-S $100. Alternatively, you can convert them to Asia and KrisFlyer miles in blocks of 5,000 points (which convert into 2,000 miles).

How To Apply For a CIMB Visa Infinite Card

Here are the eligibility, requirements, and steps to apply for a CIMB Visa Infinite

Eligibility

  • Must be a Singaporean or PR
  • 21 years old for cardholders, 18 years old for supplementary cardholders
  • Minimum yearly income of S $120,000
  • Fixed Deposit Collateral of S $50,000 if applicant can’t meet minimum income requirement

Requirements

  • Latest computerised payslip 
  • CPF Contribution History Statement in the last year
  • Latest Income Tax Notice of Assessment AND CPF Contribution History Statement in the last year
  • Latest computerized payslip
  • Bank statement in the past three months.

Steps 

  1. Download the CIMB Clicks App and apply for the CIMB Visa Infinite Card
  2. Fill out all necessary information 
  3. Submit all required documentation
  4. Wait for the app to notify you about your application’s status

FAQs For Further Reading

What’s a Cashback Credit Card?

Cashback credit cards let cardholders earn cash back on their purchases, usually at the end of the month. For example, if you purchase S $500 worth of groceries with a cashback credit card that rewards a 2% cashback with a S $200 minimum spend, you can get S $10 each time. 

What Are The Differences Between Cashback and Rewards Cards?

Cashback credit cards let you earn money back if you meet the minimum spending required. On the other hand, rewards cards earn you points that you can spend in exclusive shops. For example, HSBC’s points shop allows you to exchange your points for discount vouchers or convert them into Krisflyer miles in fixed chunks.

What Are The Spending Excluded From CIMB Visa Infinite’s Cashback Program?

CIMB Visa Infinite does not provide you cashback for the following spending categories:

  • Bank Fees: These include interest charges, late payment charges, cash advances, and others
  • Transfers & Bill Payments: All payments for utilities, such as electric, gas, heating oil, sanitary and water utility bill payments
  • Institutional Payments : Any payment to government institutions, including government services, government-related postal services, government-related purchases, court costs, fines, bail and bond payments and tax payments, insurance companies, and donations or payments to non-profit organizations.

Our Final Thoughts

The CIMB Visa Infinite is an excellent credit card that gives you enormous 2% cashbacks on all your foreign spending. However, you’ll need to earn a massive minimum annual income plus comply with its enormous minimum monthly spending to qualify for it. Plus, if you’re not a frequent traveler or shopper on foreign Ecommerce sites, it’s best to use another credit card instead.

  • CIMB Visa Infinite gives you up to 2% unlimited cashback on all your travel spending plus exclusive deals in select nationwide establishments and restaurant chains.
  • CIMB Visa Infinite is helpful for borrowers with high-interest debts thanks to its i.Pay Installment Plan pre-qualification that zeroes your debt by acting as a balance transfer.
  • However, the card requires you to earn at least S $120,000 per year and spend S $2,000 monthly to qualify for application.
  • For frequent travelers and shoppers in foreign Ecommerce shops, CIMB Visa Infinite comes highly recommended.

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