CIMB Visa Infinite Card
Earn unlimited 2% cashback on travel spend, overseas spend, and online spend in foreign currencies and an unlimited 1% cashback on all other retail spends
CIMB Visa Infinite Card Overview:
The CIMB Visa Infinite Card offers an unlimited 2% cashback on travel, overseas and online spend in foreign currencies with a minimum spend of S$2,000. The card offers an unlimited 1% cashback on all other spend. It is a great card to have for travelers as it allows them to enjoy 3 complimentary global lounge access at over 1,000 airports annually for principal cardmembers and discounts of up to 25% at selected dining outlets in airports worldwide among other travel privileges. The card also has no annual fee attached to it and users can apply for free supplementary cards.
Eligibility & Fees:
- Minimum Age: 21 years old
- Minimum Annual Income: S$120,000 (locals and PRs)
- Applicants who do not meet the minimum income requirement can submit a minimum Fixed Deposit Collateral of S$50,000.
- Annual Fee: Free for life for all Principal and Supplementary cards
Key Benefits:
- Earn unlimited 2% cashback on Travel Spends, Overseas Spends, and Online Spend in foreign currencies (with 3% transaction fee) – probably not worth doing this with the transaction fee. This has a minimum spending requirement of S$2,000 per statement month
- Earn unlimited 1% cashback on all other retail spends
How to Best Optimise it:
Utilise Three Complimentary Global Lounge Access per Membership Year
- CIMB offers 3 complimentary airport lounge visits per membership year at over 1,000 airports lounges. The 3 complimentary lounge visits per year start upon the principal cardholder’s DragonPass registration and reset annually on the same date. Do note that only the principal cardholder will enjoy the complimentary visits—for any additional visits, as well as visits by supplementary cardholders or guests, the cardholder must pay directly to DragonPass via the “Add Visits” feature on the DragonPass Airport Companion app, at a rate of USD28 per lounge access.
Take Advantage of the Complimentary Travel Insurance
- Charge your full travel fares to your CIMB Visa Infinite and automatically get travel insurance coverage of up to S$1 million for you and your family
What to Avoid:
Exclusion List:
- Any cash advances
- Any gambling-related transactions
- Any quasi-cash transactions
- Any payments to insurance companies
- Any payments to government institutions (this includes but is not limited to government services, government related postal services, government related purchases, court costs, fines, bail and bond payments and tax payments)
- Any donations or payments to non-profit organisations (this includes but is not limited to religious and charitable organizations and social services)
- Any payments for utilities (this includes but is not limited to electric, gas, heating oil, sanitary and water utility bill payments)
- Any payments done via any AXS network
- Any late payment charges or interest charges on any Card
- Any fees payable to the Bank (or any other third party) for transfer of any debit balance on any other credit card to a Card
- Any other interest, fees and charges (including without limitation, cash advance, annual or monthly fees or charges) imposed by the Bank from time to time
- Balance and/or funds transfers to or from the Card Account
- Any credit card transaction that was subsequently cancelled, voided or reversed for any reason and
- Any other transactions that may be prescribed by the Bank.
Is it Worth it:
Advantages:
- Free for life for principal and supplementary cardholders
- Offers unlimited cashback across all spends; this is great because you will not be limited on certain categories to gain cashback
- Complimentary travel insurance of up to S$1 million
- Visa Infinite Concierge
Disadvantages:
- Minimum spend of S$2,000 to be eligible for the 2% cashback
- Has a 3% foreign transaction fee which is quite high if you’re only getting 2% cashback; it would seem like you are paying to use the card
- Benefits are mostly focused on travels
Frequently Asked Questions:
How do I access my perks: To start enjoying the benefits listed above, simply download the “Airport Companion” app to your mobile device and register for a DragonPass membership account.
Final Thoughts:
This card’s benefits are relatively standard, considering the hefty S$120,000 minimum income requirement. However, the lack of an annual fee makes it a low-maintenance option for high-income earners loyal to CIMB. Nevertheless, the 2% foreign currency cashback is overshadowed by the 3% foreign transaction fee, making it an illogical choice. With more competitive options available, this card’s benefits seem outdated and unappealing in today’s credit card market.
💳 Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.
💡 We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.
