CIMB has rolled out exciting news for those of us who are always on the hunt for the next best opportunity to amplify our airline miles collection. Based on the emails I've been receiving; I know that many of you will find this information particularly useful.
The bank has not only extended its 8X Bonus Points campaign but also introduced a tempting offer to earn extra 35,000 Bonus Points. Click here for the full details.
But here's the scoop that might slightly dampen the spirits: there are some new caps and restrictions to keep in mind. While we welcome the extension of the campaign, it's crucial to understand the introduced caps and restrictions for informed and strategic spending.
Campaign Period & Eligibility
The campaign, now stretching from April to September 2024, provides a good window to maximize your earnings.
CIMB first launched this 8X Bonus Points campaign in January 2024, so it's refreshing to see that this is being continued. I previously wrote about the promotion when it was extended to the end of March here.
Once again, take note that this 8X Bonus Points campaign is open to all Preferred customers holding a CIMB Preferred Visa Infinite Credit Card or CIMB Preferred Visa Infinite-i Credit Card AND there are AUM requirements to be aware of, too.
Unlocking the 35,000 Bonus Points
To earn these points, a minimum spend of RM10,000 on eligible transactions is required.
It’s crucial to maintain a minimum monthly average balance of RM50,000 in eligible Current Account/-i and/or Savings Account/-i.
Monthly repayments to eligible cards must be made through these accounts to qualify.
Indeed, it's still possible to pocket an additional 35,000 Bonus Points. However, a minimum spend of RM10,000 is essential, and it’s subject to category caps - a detail we cannot overlook.
Crucially, some merchant categories, from supermarkets/hypermarkets to professional services, have a RM5,000 cap that qualifies towards this minimum spend.
What this means is that even if you spend RM6,000 at Supermarkets/Hypermarkets, only RM5,000 of that spend qualifies for the cumulative spend required to obtain the 35,000 Bonus Points promotion.
The good news is that both Dining and Airline spend continues to be uncapped. This means that if you spend RM10,000 on dining and restaurants, you essentially earn a base of 80,000 Bonus Points (thanks to the 8X Bonus Points Promotion) and you also earn 35,000 Bonus Points.
As a reminder, the CIMB Preferred Visa Infinite only grants you 8X Bonus Points (which translates to 1 Airline Mile = RM1.56) for Dining Spend locally.
Upon evaluating the promotion, it's clear that once you hit the RM10,000 spend threshold, you're in line to accrue 9,200 Enrich Miles each month. This means that the best way to maximize your Bonus Points earning is to continue prioritizing spend on Dining and Airlines, since these categories are uncapped and still earn you 8X Bonus Points on top of the 35,000 Bonus Points Promotion.
Logically speaking however, this strategy may not be as practical as it sounds. Accruing 80,000 Bonus Points would necessitate RM10,000 spent solely on dining—a tall order for many. CIMB recognizes this and has ingeniously eased the process.
By allowing your spend on various MCCs to contribute towards the Bonus Points, the bank has made it considerably more feasible for cardholders to reach the spend requirement.
Undeniably, there's an allure to this promotion. Without it, you’d be relegated to earning just 1X Bonus Point per RM1 on local expenses. This means that with the extra 35,000 Bonus Points in play, the promotion certainly tips the scales in your favor.
Additionally, it’s worth noting for those who possess multiple CIMB cards, such as the CIMB Travel World Elite, that Bonus Points across CIMB's credit card offerings are pooled. This synergy implies that your local swipes are most effective on the CIMB Preferred Visa Infinite card, as the CIMB Travel World Elite provides a mere 2X Bonus Points for the same transactions.
In essence, while the raw miles earning rate remains constant, this promotion optimizes your earning potential by expanding the eligible spend categories and accelerating your points accumulation, making it an opportunity not to be overlooked.
How Does This Convert to Airline Miles?
The beauty of these bonus points lies in their flexibility for conversion into airline miles. Participating in this campaign can significantly bolster your miles portfolio, offering a direct path to upgrading your travel experiences.
The conversion rate from CIMB bonus points to airline miles varies depending on the airline's loyalty program, so it's essential to plan your spend and conversion strategy accordingly.
What Transactions Count?
Eligible transactions encompass a broad range of categories but notably exclude balance transfers, cash advances, and payments of annual fees, among others.
There’s a monthly cap on eligible transactions for certain categories, ensuring a diverse spending pattern is rewarded.
Your Strategy:
To make the most out of this campaign, align your significant expenses during the campaign period with the eligible transactions.
Keep an eye on the category caps to ensure a balanced approach towards meeting the RM10,000 spend requirement.
Final Thoughts
This extension and the new 35,000 Bonus Points offer present an excellent opportunity for CIMB Preferred Visa Infinite cardholders to accelerate their journey towards more luxurious travels through airline miles.
While we celebrate the continued 8X Bonus Points offer, we must also acknowledge the introduction of caps and restrictions. It’s a gentle reminder that all good things come with fine print. Yet, with a strategic approach to your spending, you can still navigate these waters to earn a significant bounty of miles.
By carefully planning your spending strategy across the eligible categories and ensuring compliance with the campaign’s requirements, you can unlock significant value and take one step closer to your next dream destination.
With that being said, given the prolonged promotion, I'm modifying my Ultimate Guide to showcase the 35,000 Bonus Points promo. If you managed to meet the qualifying spend and obtain the extra Bonus Points, consider it an extra amount of points in your overall airline miles accumulation strategy for 2024.
