AmBank is gearing up to release its highly anticipated Enrich co-branded credit cards in July, causing a stir amongst MH fanboys, travel enthusiasts and frequent flyers.
With promises of substantial rewards and enticing benefits aligned with Malaysia Airlines’ frequent flyer program, Enrich, these new cards are set to offer a significant boost to those looking to maximize their travel benefits.
Here's a closer look at what we know so far.
Although details are still emerging, these cards are rumored to cater to those who wish to earn generous reward points while enjoying a plethora of travel benefits seamlessly integrated with Malaysia Airlines' Enrich program.
Rumored Features and Benefits Overview
Annual Fee
Visa Platinum: Expected to be waived for life.
Visa Infinite: Likely waived for the first year, with subsequent years waived upon meeting a minimum spend requirement.
Annual Income Requirement
Visa Platinum: Targeted at entry-level premium cardholders with an annual income threshold.
Visa Infinite: Aimed at more affluent consumers with a higher income requirement.
My Concerns: A Huge Devaluation of Enrich Frequent Flyer Program
While the latest features of the AmBank Enrich Visa Platinum and Visa Infinite cards are appealing, they also highlight a significant issue: the devaluation of the Enrich Frequent Flyer Program.
For one, I expect the credit cards to offer Golden Lounge access. This represents a substantial downgrade for Enrich Gold members and Oneworld Sapphire frequent flyers, given that the Golden Lounges at KLIA Terminal 1 are already decently crowded, especially the Golden Lounge Regional.
Previously, lounge access was a highly valued perk reserved for frequent flyers, but the new accessibility dilutes its exclusivity. Given the already crowded Golden Lounge Regional, this change is disappointing for loyal Enrich frequent flyers. Let's not forget the Golden Lounge Satellite, which is an important lounge for Oneworld frequent flyers connecting via Kuala Lumpur.
How Do the New Credit Cards Fare Against the Competition?
The AmBank Enrich Visa Infinite is expected to be a strong contender, potentially rising to the top of my Enrich Ultimate Guide table. Meanwhile, the AmBank Enrich Visa Platinum is anticipated to perform decently well within its income range.
As always, I'll reserve judgement until the full announcement is out, although I already have a rough idea of what the MPR rates are going to be. I do feel that it's important that I hold off my thoughts out of respect for the considerable effort and expertise that financial professionals have invested in developing this card.
Final Thoughts
While the launch of AmBank’s Enrich Visa Platinum and Visa Infinite credit cards is likely to be popular, offering tempting benefits aligned with Malaysia Airlines, it’s essential to approach these offerings with a healthy dose of skepticism regarding their enduring value. Given the recent devaluation trends within the airline miles industry, there’s a prevailing sentiment that such offers may come with hidden drawbacks.
Despite these concerns, these credit cards could still be spectacular for avid Enrich Miles collectors. As the launch date approaches, it will be crucial to monitor the actual benefits and user feedback to determine if these cards live up to the hype.
