FAQs - Revision to Alliance Privilege Visa Signature Credit Card Features

 
  1. How is the Additional Cashback being awarded after the revision?
    The method to compute Additional Cashback remains unchanged, as follows:-
    • The Alliance Privilege Visa Signature Credit Cardholder(s) must maintain an average Asset Under Management (“AUM”) per annum of at least RM300,000 and fulfil a minimum retail spend requirement of RM120,000 per annum.
    • Following the fulfilment of the requirements above, the Additional Cashback will be granted to the eligible Alliance Privilege Visa Signature Cardholder(s) based on the tiered average Asset Under Management (“AUM”) per annum as shown below.
      Alliance Privilege Visa Signature
      Tier Additional Cashback Rates Average Asset Under Management p.a. (RM) Additional Cashback Capping
      1 0.5% More than RM300,000 RM800
      2 1.0% More than RM500,000 RM1,600
      3 2.0% More than RM1,000,000 RM3,200
      4 3.0% More than RM3,000,000 RM4,800
    • The minimum retail spend requirement of RM120,000 per annum is defined as the cumulative 12 months' retail spend upon completion of a calendar year and refers to the total retail spend of both principal and supplementary Alliance Privilege Visa Signature Credit Card(s).
    • Following the completion of a calendar year, the Additional Cashback will be credited to the eligible Principal Cardholder’s Credit Card Account in the following month.
       
  2. Will the computation of Additional Cashback for the year 2023 be subject to the new Cashback Capping?
    Yes. The Additional Cashback will be credited in the following month upon completion of a calendar year. Hence, the crediting of Additional Cashback for the year 2023 will be conducted in 2024 and is subject to the new Cashback Capping.

    The computation of Additional Cashback will be based on average AUM per annum and minimum spending per annum from 1 January 2023 to 31 December 2023.
     
  3. Does the new Cashback Capping also apply to the existing ‘Up to 5% Cashback’ feature?
    No. You will still enjoy the existing unlimited ‘Up to 5% Cashback’ feature with this Card.
     
  4. Will the revision impact the other features of this Card?
    There have been no changes to the Card’s other features.
     
  5. Are there changes to the current fees and charges on this card?
    The current fees and charges for this Card have not changed.
     
  6. What is the definition of retail spending?
    Retail spending refers to all retail purchases (except for Cash Advance, Balance Transfer, Fast Cash, Fees and Charges such as Finance Charges, Late Charges, Annual Fees imposed by the Bank, Reversed, Disputed Split and/or Void Transactions) made with the Alliance Privilege Visa Signature Credit Card that are posted in the Bank’s system.
     
  7. When is effective date for the change?
    15 August 2023.
     
  8. This revision is applicable to existing or new Alliance Privilege Visa Signature Credit Cardholders?
    It is applicable to both existing and new Alliance Privilege Visa Signature Credit Cardholders.
     
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