DuitBase
My cards
HSBC · Visa · Cashback

HSBC MPower Platinum-i

Earns
5.08% Touch 'n Go reloads, from RM2,000 a month
Minimum spend
RM2,000 a month or it pays 1%
Min income
RM102,000 a year
Annual fee
RM240 Waived at RM6,000 spend a year
See it on HSBC's site

Good for

  • 8% cash back on petrol and on Touch 'n Go and GrabPay reloads in months you spend RM2,000 or more.
  • Each bonus category pays up to RM15 a month.
  • RM240 annual fee from year 2, waived at RM6,000 of spend a year.

Watch out

  • Under RM2,000 a month, the bonus falls to 1%.
  • Petrol earns nothing past the RM15 cap, and other spend earns only 0.2%.
  • The grocery bonus is for Giant, Lotus's, AEON BIG and Mydin only.
  • Government, JomPAY, FPX and QR Pay payments earn no cash back.

What it earns

Cash back, as a share of what you spend.

  • Counts toward the minimum: every billed purchase, except the ones below.
  • Does not count: Government / LHDN / JPJ and JomPAY / FPX / DuitNow to billers.
SpendingUnder RM2,000RM2,000 or moreMonthly cap
Petrol in ringgit 1% 8% RM15 reached at RM187.50, or RM1,500 under RM2,000
Touch 'n Go reload and Grab top-up / GrabPay 1% 8% RM15 reached at RM187.50, or RM1,500 under RM2,000
Everything else 0.2% 0.2% None
Government / LHDN / JPJ and JomPAY / FPX / DuitNow to billers Nothing Nothing

Getting your cash back

How it's paid
Credit to your card account, monthly Paid to the main cardholder's card-i account within 6 weeks after each calendar month and shown on the next statement, rounded down to the sen. The card must be PIN-activated at that time.
Which month counts
The calendar month Counted by transaction date. A purchase that posts after the 7th of the next month counts in the month it posts. Main and supplementary spend count together.
When you lose it
A cancelled, invalid or overdue card Cash back is not paid if the account is overdue, invalid or cancelled, or the card is not PIN-activated, when HSBC credits it.

Travel

Overseas spending fee
1% 1% HSBC Amanah conversion cost, plus any fee Visa adds.

Fees and charges

What it costs if you don't pay in full, or use it for cash.

Annual fee
RM240 Free the first year. Waived if you spend RM6,000 in a year.
Extra (supplementary) cards
RM120 a year Plus RM25 service tax each year.
Service tax
RM25 a year per card A government charge on every credit card in Malaysia, billed by the bank.
Interest
15%, 17% or 18% a year An Islamic card: these are profit rates. They depend on how reliably you paid over the last 12 months. None if you pay the full balance by the due date (20 days after your statement).
Minimum monthly payment
5% of the balance, or RM50 Whichever is higher, plus any instalments and unpaid past minimums.
Late payment
1% of the balance, RM10 to RM100 Late payment compensation, charged when the minimum payment is late.
Cash withdrawal
RM8.70 fee per withdrawal Plus 8% service tax on the fee, and 18% a year profit on the amount, counted daily. An unpaid cash advance also cancels the profit-free days on your other spending.
Replacement card
RM50

Who can apply

Income
RM102,000 a year or more
Age
21 or older Extra cardholders from 18.
Documents
  • MyKad, both sides
  • Employees: the latest EPF statement, plus 3 months of payslips, a commission statement, 3 months of bank statements, or Form BE with the tax receipt
  • Self-employed: business registration or trading license, plus 6 months of bank statements, the latest EPF statement, or Form B with the tax receipt or CP02
Foreigners must work for a multinational, listed or government employer, or an HSBC corporate lending employer. They need a passport, a work permit valid at least 1 year, a letter from the employer and 3 months of payslips or bank statements.

Other perks

Concierge
Visa Concierge A 24/7 digital personal assistant.
Pay by phone
Apple Pay, Google Pay, Samsung Pay The eWelcome pack says to add the card in Apple, Google or Samsung Wallet.
Card network
Visa

Where this comes from