CIMB Visa Signature

CIMB Visa Signature Credit Card Review: Best for Online Spend

The CIMB Visa Signature Card comes with no annual fee and up to 10% cashback on beauty wellness online shopping and groceries transactions. CIMB credit card customers also get access to more than 1,000 deals and discounts across dining, lifestyle, and other retail transactions. However, caps and limitations on cash rebate potential make it difficult to earn as much cashback on online shopping as some customers might expect.

How Does the CIMB Visa Signature Credit Card Work?

CIMB Visa Signature Credit Card holders can earn cash rebates on online shopping groceries and beauty and wellness transactions simply by using their CIMB credit card. You can earn cashback at a very generous cash rebate rate of 10% when you spend in the following categories:

  • Beauty
  • Wellness
  • Online Shopping Transactions
  • Groceries
  • Pet shops
  • Veterinary services / vet services
  • Cruises

Any cash back you earn is credited at the end of each calendar month, but there is a $100 cashback cap (made up of $20 per category) limiting the total amount you can earn each calendar month, too. CIMB credit card customers who apply online for a CIMB Visa Signature Credit Card must also meet a minimum spend requirement of $800 in the same statement month.

Right now, CIMB’s latest credit cards sign up bonus means new CIMB cardholders won’t pay annual fees with their CIMB Visa Signature Credit Card. New CIMB cardholders are also eligible to claim $150 cash credit with a $500 min spend in their first two months, as outlined here.

 

Key Features of the CIMB Visa Signature Credit Card – Cash back on Online Shopping and Much More

  • Get cash rebates on online shopping groceries, beauty, wellness, pet shops veterinary services, cruises and other eligible transactions
  • Claim a 10% cash rebate rate on all spend in the above categories as one of the key features of CIMB credit cards.
  • Access more than 1,000 CIMB deals and discounts across dining, lifestyle and other retail purchases.
  • Get complimentary travel insurance coverage of up to $500,000 for you and your family.
  • Pay no annual fees (including supplementary card applicants).
  • Claim a $150 welcome gift as part of CIMB’s latest sign up bonus.

Pros and Cons of the CIMB Visa Signature Credit Card – From Annual Fee Costs to Online Shopping Cash Rebate Potential

Pros

  • Enjoy a 10% cash rebate rate on the following categories: beauty wellness online shopping groceries pet stores and veterinary services.
  • Save on annual fees and processing fees with a generous annual fee waiver that also covers supplementary card applicants.
  • Take advantage of interest free repayments for 23 days using CIMB’s special pay plan.
  • Use a Fixed Deposit Collateral of $10,000 to apply if you don’t meet the $30,000 minimum annual income requirement.
  • Say goodbye to travel inconveniences and easily spend on travel fares with SimplyGo. You can also claim generous travel insurance coverage.

Cons

  • A minimum spend of $800 is required to claim cashback at the 10% rate.
  • A cashback cap of $100 applies, made up of a $20 cashback cap in each key spending category (beauty wellness online shopping groceries pet stores and veterinary clinics).
  • Cashback on all other types of spending is limited to a cash rebate rate of just 0.2%.
  • Foreigners cannot apply online for this card.

Key Benefits of the CIMB Visa Signature Credit Card – Generous Annual Fee Waiver and More

Online Shopping

Get 10% cashback on online shopping with your CIMB Visa Signature Credit Card. You can earn up to $20 cash back per month maximum with online spend and online purchases.

Groceries

Another one of the key features of this card is 10% cashback on all types of groceries spend – just remember that this will also be capped at $20 per month.

Beauty and Wellness

Beauty and wellness transactions, whether online purchases or in-person spend, also qualify for 10% money back. However, you’ll need to hit a minimum spend of $800 per month to be eligible for up to $20 worth of cashback at 10% in CIMB’s flagship spend categories.

Pet Shops and Vet Services

Claim 10% money back on veterinary services, as well as on all eligible spend at pet shops. This is capped at $20 per month, whether you’re spending at small local pet stores or paying for world class service at leading veterinary services companies. 

Cruises

It probably comes as no surprise that a CIMB Visa card offering complimentary travel insurance also offers up to 10% cash back on cruises. This includes online shopping for cruises, online purchases and in-person bookings. Travel-focussed cardholders can also access a Visa Signature Concierge. 

Exclusive Rewards

All CIMB Visa Signature Credit Cards customers can get their hands on more than 1,000 dining, retail and lifestyle discounts. Cardholders also get SimplyGo tap-and-pay functionality, and complimentary travel insurance of up to $500,000, which covers travel inconveniences such as flight delays and lost baggage. A Visa Signature Concierge is also included.

How Does the CIMB Visa Signature Credit Card Differ from Other Credit Cards?

Let’s look at how the CIMB Visa Signature Credit Card compares to some of the other best credit cards on the market right now:

 

  Cash Rebate / Cash back Benefits

 

Minimum Spend Rules

 

Cashback Cap Sign Up Bonus
CIMB Visa Signature Credit Card

 

Earn cash back at 10% across five key spending categories (online purchases, groceries, beauty and wellness, pet stores and veterinary clinics, and cruises)

 

Get 0.2% unlimited cash back on all other purchases with no monthly cap

 

$800 minimum spend per statement month required $100 (made up of $20 per category across five categories) Pay no annual fees and get a $150 welcome gift
Citi Cash Back Card

 

Enjoy 6% cash back when dining at worldwide restaurants and cafes

 

Get 8% cash advance rebates on supermarket and grocery store purchases

 

Enjoy 20.88% fuel savings at Esso and Shell

 

$800 minimum spend requirement per statement month $80 cashback cap across all general spend $120 cash back welcome gift available

 

Standard Chartered Visa Infinite Card

 

Earn 3 air miles for every $1 spend

 

Get up to 20.1% fuel savings at petrol stations

$2,000 per statement cycle N/A 35,000 air miles welcome gift available

 

6 months’ Disney+ subscription when you activate your card

 

OCBC 365 Card

 

Get 6% cash back on dining and online food delivery

 

Claim 5% cash back on fuel spend at all petrol stations

 

Get 3% cash back on groceries, transport, and online travel

 

Only required for customers who wish to claim a 2-year annual fee waiver $80 per statement month N/A
Maybank Family and Friends Card

 

Enjoy 8% cash back across five spending categories chosen by you

 

$800 $50 Get a Garmin Vivomove watch worth $469

 

HSBC Revolution Card

 

Claim 10X Reward Points on online and contactless spend

 

Get extra Reward Points and Bonus Points when you make HSBC monthly deposits

N/A No cap on reward points N/A

 

 Is the CIMB Visa Signature Card Right for You?

The CIMB Visa Signature Credit Card stands out from its competitors mainly thanks to its unusually high 10% cashback rate, and its relatively lax cashback cap. That said, while other credit cards, such as the OCBC 365 Card and the Citi Cash Back Card, might cap customers quickly, they sometimes offer a little more flexibility in terms of spending categories – particularly the Maybank Family and Friends Card.

Ultimately, we think the CIMB Visa Signature Credit Card is great for online spend, as well as customers who frequently splurge on beauty and wellness, or pet care. That said, customers who prefer eating out, racking up air miles or earning reward points instead of cash rebates might do better to try one of the other credit cards listed in our comparison.

close up view man hands holding credit card

CIMB Visa Signature Credit Card Processing Fees and Other Charges

  • Annual Fee – Waived with current promotion
  • Minimum Annual Income Requirement – $30,000
  • Late Payment Fee – $100
  • Cash Advance Fee – 6% (with a $15 minimum charge)
  • Annual Interest Rate – 25.90%
  • Interest Free Period – Enjoy interest free repayments on a special pay plan for 23 days
  • Overlimit Fee – Minimum charge of $50 or 5% of the outstanding amount, whichever is higher
  • Foreign Currency Transaction Fee – 2%

How to Apply for Your CIMB Visa Signature Credit Card

It’s real easy to apply for your CIMB Visa Signature Credit Card online here – but you will need to ensure you meet the below requirements before you apply:

Eligibility Criteria

  • Minimum Age – 21 years old (principal cardmember), 18 years old (supplementary card applicants)
  • Minimum Annual Income – $30,000 (for Singapore Residents and Permanent Citizens)

Documents Required to Apply Online

  • NRIC (photocopy of both sides)
  • Valid Passport (for principal cardmember and supplementary applicants)
  • Latest Income Tax Notice of Assessment and bank statement
  • Latest computerised payslip or CPF Contribution History Statement

In addition to the above, self-employed individuals might need to provide 2 years’ Income Tax Notice of Assessment and bank statement information.

Why Should you Choose a CIMB Visa Signature Credit Card?

If you spend frequently in the five spend categories that attract the maximum 10% cashback rate, the CIMB Visa Signature Credit Card will slot nicely into your everyday lifestyle. What’s more, this credit card’s complimentary travel insurance perks, annual fee waiver, SimplyGo functionality and flat 0.2% cashback rate on all other types of spending make it a valuable addition to any Singaporean’s wallet.

Conclusion – What to Keep in Mind Before You Apply Online for This Cash Back Card

So, the CIMB Visa Signature Credit Card offers some seriously good online shopping benefits, including an excellent 10% cashback rate when spending on groceries and in other select categories. That said, there are a few important things to keep in mind before you apply:

  • The CIMB Visa Signature Credit Card will only pay out 10% cash rebates on purchases made in five eligible categories.
  • There is a $20 cash back cap in each category (totalling $100), and a $800 minimum spend requirement per statement month.
  • Other credit cards might be a better fit for customers who prefer Reward Points to cashback or want rebates when dining out – but you might have to pay a higher annual fee for the privilege.

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