cimb world mastercard

CIMB World Mastercard Card Review: Best for Leisure Lovers

The CIMB World Mastercard offers unlimited cashback across multiple spending categories, no annual fees, and discounts on green fees at golf courses all around the world – but is it the right credit card for you? Well, CIMB World Mastercard customers get to enjoy huge savings on dining, digital entertainment and other leisure spend, but you’ll need to hit a $1,000 minimum spend per statement month to best enjoy your cashback benefits.

How Does the CIMB World Mastercard Card Work?

The CIMB World Mastercard is one of CIMB’s flagship unlimited cashback cards. This means customers can claim unlimited cash back when making purchases in eligible categories. That said, the CIMB World Mastercard has 2 unlimited cashback tiers, which pay out cashback as follows:

Spending Categories Earning Unlimited Cashback at 2%

  • Wine
  • Dining
  • Online food delivery services
  • Movies
  • Digital entertainment services
  • Taxi rides
  • Ride hailing
  • Automobiles
  • Duty free stores purchases
  • Luxury goods

Spending Categories Earning Unlimited Cashback at 1 to 1.5%

  • Overseas spend in foreign currency
  • All other spend

The CIMB World Mastercard does not enforce any cashback cap on cashback earnings, but you will need to hit a minimum spend of $1,000 within the same statement month in order to enjoy your 2% cashback benefits – otherwise all cashback savings will automatically revert back to the basic 1 to 1.5% rate.

At the time of writing, new CIMB cardholders can also claim a sign-up bonus in the form of either a $150 Pay Now cash credit welcome gift or a pair of Sony WF 1000XM3 Wireless Noise Cancelling Headphones worth $219.

 

Key Features of the CIMB World Mastercard – Unlimited Cashback, Discounted Green Fees and More

  • Earn unlimited cashback at 2% on all wine, dining, online food delivery services, digital entertainment, and other luxury goods purchases.
  • Claim unlimited cashback at a rate of 1% on all other spend.
  • Pay no annual fees for life with your CIMB World Mastercard Credit Card.
  • Enjoy a 50% discount on green fees at selected golf courses across Asia.
  • Access over 1,000 airport lounges at 60 airports globally through the Mastercard Airport Experiences scheme
  • Claim more than 1,000 CIMB deals and discounts across dining, retail, and lifestyle.
  • New CIMB cardholders can get a $150 Pay Now cash credit welcome gift or a pair of Sony WF 1000XM3 Wireless Noise Cancelling Headphones worth $219.

Pros and Cons – From Unlimited Cashback Policy to Green Fees Limitations

CIMB World Mastercard Pros

  • Luxury goods lovers can claim unlimited cashback with no cashback cap across multiple shopping categories, including duty-free stores purchases.
  • Golf lovers get up to 50% off green fees at golf courses all across Asia.
  • Frequent flyers benefit from Mastercard Airport Experiences and automatic travel insurance coverage for travel inconveniences and lost baggage.
  • All customers benefit from cash rebate potential, lifetime annual fee waiver, and CIMB deals program.
  • Cardholders can access the CIMB 0% Interest i.Pay Instalment Plan

CIMB World Mastercard Cons

  • The best cashback rates don’t cover general spending, groceries, and everyday purchases.
  • CIMB World Mastercard card holders must hit a minimum spend of $1,000 in the same statement month to enjoy 2% cashback.
  • Regular travelers don’t get any exclusive perks with hotels or airlines.

Benefits of the CIMB World Mastercard Card

Unlimited Cashback

The CIMB World Mastercard is one of the best unlimited cashback cards in Singapore, offering 2% unlimited cashback on dining, wine, online food delivery, digital entertainment and more, and 1 to 1.5% on all other spend, including overseas spend in foreign currency. As we’ve already pointed out, however, you’ll need to exceed a $1,000 min spend each month to claim the best rates.

Travel

CIMB World Mastercard Credit Card customers are granted automatic access to the Mastercard Airport Experiences scheme. This means free access to more than 1,000 lounges across 60 airports globally. What’s more, cardholders get automatic travel insurance coverage with their CIMB World Mastercard Credit Card, too. 

Golf

As one of this credit card’s many great key features, customers also get to enjoy green fee discounts at luxurious golf courses not just here in Singapore, but all across Asia.

Supplementary Cards

CIMB World Mastercard customers can apply for up to four supplementary cards to share their credit cards benefits with the whole family

Lifetime Annual Fee Waiver

Another one of the key features CIMB World Mastercard card holders get to enjoy is a lifetime annual fee waiver – which means no annual fees payable throughout the whole time you own and use your CIMB card. Just keep in mind that other processing fees may apply.

Exclusive Rewards

At the time of writing, new customers can claim a $150 Pay Now cash credit welcome gift. Alternatively, cardholders can claim a pair of Sony WF 1000XM3 Wireless Noise Cancelling Headphones worth $219 instead of cash credit. You’ll need to hit a minimum spend of $500 for two consecutive statement month periods after card approval to qualify.

credit card red pickup model

How the CIMB World Mastercard Compares to Other Credit Cards

Let’s take a quick look at how the CIMB World Mastercard shapes up against some of its top competitors here in Singapore:

 

  Cashback Perks

 

Minimum Spend / Cashback Cap

 

Annual Fee Cost
CIMB World Mastercard

 

Earn 2% unlimited cashback on spend in eligible categories

 

Get 1 to 1.5% cashback on all other spending

 

$1,000 minimum spend required

 

No cashback cap

N/A
Standard Chartered Unlimited Cashback Card

 

Claim 1.5% cashback on all spend N/A $192.60 (annual fee waived for first two years)
Maybank World Mastercard

 

10X TREATS Reward Points for every $1 charged to select restaurant merchants and petrol stations

 

Complimentary golf fees at 100 participating courses

 

$24,000 per annum required to waive annual fee

 

50,000 TREAT Points cap

$240 (annual fee waived for first year)
UOB One Card

 

Earn 10% cashback on Shopee, Dairy Farm Singapore, Grab and UOB Travel

 

Get 5% cashback on all other retail spend

 

$2,000 minimum spend per month required to claim best cashback rates N/A
CIMB Visa Infinite Card

 

Claim unlimited 2% cashback on travel, overseas and online spend in foreign currency

 

Enjoy 1% cashback on all other spend

 

No minimum spend required N/A
HSBC Revolution Card

 

Earn 10x Reward Points on online and contactless spending

 

Get 1x Reward Points per 1$ on all other spend

 

No minimum spend requirement

 

10,000 Reward Points per month cap

N/A

 

What Makes the CIMB World Mastercard Stand Out?

As you can see from our comparison, the CIMB World Mastercard is super-competitive when it comes to cashback rates – perhaps even more so than other cards due to its unlimited cashback potential. It’s also worth noting that while competitors such as the UOB One Card offer superior cashback rates, their eligible spending categories will often be more limited than what you’d get with a CIMB credit card.

CIMB also has the upper hand when it comes to annual fee costs, as competitor cards such as the Maybank World Mastercard require a minimum spend per annum to claim an annual fee waiver, while other cards, such as the Standard Chartered Unlimited Cashback Card, only waive annual fees for one or two years.

That said, the HSBC Revolution Card and Maybank World Mastercard are certainly worth considering for consumers who prefer points-earning potential over traditional cashback cards. At the end of the day, which financial products best suit you will depend on where your interest in spending is, and whether you’d rather earn physical money or bank points and discounts.

CIMB World Mastercard Charges and Fees Payable

If you’re applying for a CIMB credit card like the CIMB World Mastercard, you’ll need to ensure you are 100% happy with its processing fees, charges, and other costs you will be eligible to pay. The key costs for this particular CIMB credit card are outlined below:

  • Annual Fee – Free, due to lifetime annual fee waiver with this card
  • Supplementary Card Annual Fee – N/A
  • Annual Interest Rate / Interest Charges – 25.9%
  • Interest Free Period – 23 Days
  • Foreign Currency Transaction Charge – 3%
  • Minimum Monthly Repayment – $50 or 3%, whichever is highest
  • Minimum Annual Income Requirement – $30,000 for Singapore Citizens / PRs
  • Overlimit Fee – $50 or 5% of your excess, whichever is highest
  • Cash Advance Transaction Fee – $15 or 6%, whichever is highest
  • Late Payment Charge – $100

How to Apply for Your CIMB World Mastercard

You can apply for your CIMB credit card in less than 10 minutes online here – but you’ll need to make sure you meet the below eligibility criteria before you can submit your application:

  • Minimum Age – 21 for principal cardholder, 18 for supplementary cards
  • Minimum Annual Income Requirement – $30,000 for Singapore Citizens / PRs

If you are unable to meet the minimum income threshold stated above, you may be able to apply for your CIMB World Mastercard using a minimum Fixed Deposit Collateral of $10,000 instead.

Who Should Get a CIMB World Mastercard Card?

The CIMB World Mastercard is an excellent choice for high spenders who want to earn extra cash back when spending on luxury goods and services. This CIMB credit card’s superb 2% unlimited cashback rate on luxury goods and services is great for anyone who frequently uses their card for these purchase types – but only if you can exceed that $1,000 min spend with ease every month.

Ultimately, if you value easy cashback on valid purchases, a lifetime annual fee waiver, and luxury perks at airport lounges and golf courses, you can’t go too far wrong with this amazing credit card.

Conclusion – Things to Consider Before Applying for a CIMB World Mastercard

There’s no denying that the CIMB World Mastercard is one of the best credit cards on the market right now, but is it the right CIMB credit card for you? Or should you be looking at competitors instead? Before you apply for a CIMB World Mastercard, be sure to keep in mind that:

  • Only certain purchase categories are eligible for the best cashback rates, meaning you should make sure these categories suit your spending habits before applying.
  • You’ll need to hit a $1,000 min spend requirement every month to keep claiming your 2% cashback.
  • While this card is great for high spenders, other cards out there might be a better fit for regular consumers who want to save on groceries and shopping transactions rather than luxury purchases.

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