ANZ Optimum World Mastercard

[Allen_C_Sharp]

Remembered saw somewhere states $1 Optimum = $1, like citi$, but no idea what is the rebate% for this card yet...

 

[hclee01]

If you look at the latest NATAS Travel Fair promotion, it did mention Rewards Points, Travel$, Optimum$.

Looks like this card will earn Optimum$ which will probably be used to redeem for rebate?

https://sg.anz.com/ANZPrivileges/promotion-travel/

Same for the latest 15% rebate on dining:
https://sg.anz.com/ANZPrivileges/pr...day_Dining_Promotion_Terms_and_Conditions.pdf

3.4 Dining Rebate is awarded in the form of Rewards Points, Cash Rebate or Optimum$, which shall be dependent on the card number sent by the Cardmember:

3.4.3 Optimum$ - For every S$1 rebate, 1 Optimum$ will be awarded to ANZ Optimum Card or ANZ Personal Credit Card

 

[leogeo]

There is an article about this card in the straits times today but looks like website not updated yet

 

[Inix]

The ST's article mention something about choosing 1 category for a higher (5%?) rebate. Makes it interesting for people like me.

 

[hclee01]

Info on CNA website:
Singapore banks offer sweet deals to attract more credit card holders - Channel NewsAsia

The Optimum World MasterCard by ANZ, launched on Monday (Mar 2), allows cardholders to cherry pick their rebate rewards. It offers a 5 per cent rebate on the spend category of choice, ranging from Groceries, Travel and Shopping, to Dining & Leisure, and a 1 per cent rebate on all other spend.

 

[ccssgm]

No minimum spending limit to get 5% rebate

 

[lcpteck]

Guess we'll have to wait till the actual site and T&Cs are out to read the fine print.

 

[Sunnydae]

Guess we'll have to wait till the actual site and T&Cs are out to read the fine print.

Yah, for small fry like me, hopefully its a no min spending limit card vs one with a max spending cap.

Since the travel card is ironically a general retail card, the new card is clearly targeting focused spenders.

 

[hogrider88]

If they really hv to tweak travel cash rebate rate for this card, hopefully they turn travel$ no expiry too lol

 

[josephlpw]

https://sg.anz.com/apps/optimum/index.html

 

[yeokheelin]

https://sg.anz.com/apps/optimum/index.html

seems quite good

 

[anfielder]

Looks like no limit on cash rebate and no minimum spend.

However if you forget to choose the category towards the end of each quarter then every category will only get 1%.

 

[Sinkie]

What's the minimun income needed??

 

[yeokheelin]

What's the minimun income needed??

Eligibility

Applicants must be 21 years old and above
Minimum income of S$80,000 p.a. for Singapore Citizens, Permanent Residents and Foreigners
Annual fee

Principal Card: S$180 p.a. (waived for the first year)
Supplementary Card: S$90 p.a. (waived for the first year).

 

[purpletoysmum]

Please take note.

1. Rebate limited to $30 per transaction.

2. Rebate is calculated based on blocks of $10 spending rounded down.

Sneakily they will claw back some of the rebates here and there. It is not a straightforward 5% and 1% rebate. Don't get tricked.

 

[Awesom Andy]

Looks like no limit on cash rebate and no minimum spend.

I don't like this line though:

"Cash rebate is awarded in the form of Optimum$ (1 Optimum$ = S$1 cash rebate). No minimum spend is required, and you can earn up to S$30 cash rebate per retail transaction."

Not sure how I should be interpreting this, but it looks like in the 5% category, anything over $600 is capped. So if I choose travel, and try to book a discount ticket from SIN to SFO, I would end up with an effective 2% rebate for the transaction...

There's also a 3-year expiry for Optimum $, but I can't see why anyone would save up cash rebates for 3 years.

 

[ccssgm]

Exiting card holder of ANZ not entited to $88 Cash Rebate Promotion

 

[mcylo]

siazzzz. max rebate per retail transaction is $30.

 

[Asphodeli]

Meh, not as good as other cards, and annual income so high, take this card not much use leh, except for the flexibility.

 

[hclee01]

Redemption of rebates must be in blocks of S$50, not that flexible:


2. Will the cash rebate be automatically offset against my monthly statement balance?

No, you will be awarded Optimum$ which you can accumulate and redeem for cash rebate in S$50 denominations.


Also rebates will be used to offset annual fee automatically:

Optimum$ accumulated under the Card Account may be automatically deducted to offset Cardmember’s Card annual fee when the annual fee is due. Sufficient Optimum$ must be set aside if Cardmember would like to use the Optimum$ to apply for waiver of the annual fee.