The long and the short of it
Sign up for a Maybank saving account, maintain at least a $500 average daily balance* and use that account to pay for your other credit card accounts.
Local tips!
Combine this with savings from other credit card offers. Duh!
And for a super chao (smelly) combo, use your family members. Get your ah ma, ah gong, mother, father, sister, brother to sign up an account and use their account to pay off credit cards.
And for a super chao (smelly) combo, use your family members. Get your ah ma, ah gong, mother, father, sister, brother to sign up an account and use their account to pay off credit cards.
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This is one damn hosay good deal now. It's like one of those mother-of-all good deals kind. This is really free money. Not some bullshit sign up for loans to get rebates crap or spend to save rubbish.
Basically, Maybank is offering a cash rebate of $0.10 whenever you pay for credit card bills via internet banking. It's to any, I repeat, ANY credit card from ANY bank.
So this is a gold mine. You don't even need to use Maybank's credit cards. So basically this is a combo that stacks. Plus there's some lucky draw thing too!
Ok so what's the catch? Well, surprisingly there is no catch, except you need to spend time doing a boring repetitive task to earn that money.
So to make things easier to digest, the key points of this offer are listed below:
So what do you need to do?
1) Sign up for a Maybank saving account. You have to head down to a branch. They can settle that for you on the spot and takes about 1hr to be safe. Internet banking will be available within 2 weeks.
2) Start using it to pay your credit card bills.
3) Magic money comes in at the end of the month :D
So this is a gold mine. You don't even need to use Maybank's credit cards. So basically this is a combo that stacks. Plus there's some lucky draw thing too!
Ok so what's the catch? Well, surprisingly there is no catch, except you need to spend time doing a boring repetitive task to earn that money.
So to make things easier to digest, the key points of this offer are listed below:
- Cap of $20 issued out per Maybank account each month. It's max $10 for payments to Visa and another $10 for payments to Mastercard. So that makes $20 maximum each month per account.
- Each payment has to be minimum $5.
- To hit that $10, you need to submit 100 payments. No sweat, break down your transactions to 100 x $5 for each card type and you earn $20 a month. FOC.
(Well technically not FOC, you will spend ~1hr to do the 100 transactions so you're earning $10/hr wages. Still... it's a chance to earn some moolah. Kinda easy money too.)
So what do you need to do?
1) Sign up for a Maybank saving account. You have to head down to a branch. They can settle that for you on the spot and takes about 1hr to be safe. Internet banking will be available within 2 weeks.
2) Start using it to pay your credit card bills.
3) Magic money comes in at the end of the month :D
Read more about it here - Other Banks' Credit Card Payment Cash Back Feature and Lucky Draw
Offer runs till Dec 2014. So you have till the end of the year to enjoy this gravy train.
Note that the offer is for credit cards only. Debit cardholders can weep.
Added note on 16 April 2014
Another way to look at this is at a bank interest rate angle. Say you deposit $12k into the account for paying your credit card bills, maxing out the $20 rebate for Mastercard and Visa ($500 x 2 card companies x 12 mths), that's $240 a yr.
That's 2% returns for that $12k. Better interest rate than any other bank without all that hassle of salary deposits, cannot draw down etc.
Note that the offer is for credit cards only. Debit cardholders can weep.
Added note on 16 April 2014
Another way to look at this is at a bank interest rate angle. Say you deposit $12k into the account for paying your credit card bills, maxing out the $20 rebate for Mastercard and Visa ($500 x 2 card companies x 12 mths), that's $240 a yr.
That's 2% returns for that $12k. Better interest rate than any other bank without all that hassle of salary deposits, cannot draw down etc.
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