How Much Points Needed to Pay Credit Card Tax



credit cards

Credit Card Tax for 2010 is to stay no doubt about it. Credit card industry as a whole has come to a consensus that this tax will be borne by the cardholders and not the banks. Association of banks also confirmed on the tax payment date.

Now, banks in Malaysia are strategising to help customers pay the credit card tax by hoping that they can retain their customers.

Most banks are willing to allow customers to utilise their reward points collected to pay the tax charge. However, some banks said that consumers could easily offset the tax with the many cash rebates offered with their credit cards.

For banks that agree to use points, how much are needed?

The table below shows how much points that you need for different banks

Banks Strategy Points Needed
Principle Supplementary
Alliance Bank
Redemption of points
10,000 5,000
Bank Islam
Customer to pay
CIMB Bank
Redemption of points
10,000 5,000
Citibank
Redemption of points
10,000 5,000
Citibank AirAsia Card
Redemption of points
13,000 6,500
EON Bank
Redemption of points
10,000 5,000
Hong Leong Bank
Redemption of points
10,000 5,000
HSBC
Redemption of points
10,000 5,000
Maybank
Redemption of points
10,000 5,000
OCBC
Offset from Cash Back
Public Bank
Offset from Cash Back
RHB Bank
Customer to pay
Standard Chartered
Redemption of points
10,000 5,000

If you interested to use points to pay the tax you have to contact your bank’s Customer Services.


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