Once the crown jewel of travel rewards, the Maybank 2 Cards Premier American Express now faces a stark devaluation. In a shocking pivot, Maybank has slashed the local spend TreatsPoints from a generous 5X to a meager 2X, leaving cardholders scrambling.
In my numerous critiques, I've dubbed the Maybank 2 Cards Premier American Express Reserve the 'Great Pretender' of rewards cards. It's the darling of every armchair credit card guru and TikTok's would-be experts, hailed as Malaysia's air miles messiah. Yet, if you believe that this card is the pinnacle of point-earning prowess, then Maybank has masterfully played you.
The peak miles per ringgit rate is a pipe dream, attainable only for those who manage the Herculean feat of paying with the American Express card. And good luck with that—finding a Malaysian merchant that accepts AMEX is like spotting a unicorn. Most days, you're relegated to the Maybank Visa Infinite's disappointing drip of TreatsPoints.
Overview of Changes
Effective December 1st, 2023, local spend TreatsPoints on the Maybank AMEX Reserve have plummeted, drastically altering the card's rewards landscape.
This latest cut to Maybank's rewards is a low blow for those of us who've championed the card's mile-hoarding abilities. It's like watching a champion become a chump. With banks like HSBC setting low expectations with the TravelOne Card, it seems Maybank's following suit in a race to the bottom. It's a fool's game, and they're betting we're all fools.
The smart money is on innovation, not devaluation. Banks could take a page out of Singapore's playbook, where clever strategies keep cards competitive.
Sadly, Maybank's taking the easy route, and while we savvy spenders see through it, inertia keeps many rooted. They've racked up TreatsPoints galore, and the thought of switching is just too much hassle.
Why can't Maybank get creative instead of just cutting points? Other places find smart ways to save without pinching our points, but not here. And the funny thing? Most folks will stick around because they’ve got too many points sitting there. It's like staying in a bad movie because you've already paid for the popcorn.
Final Thoughts
And let's talk about the laughable loyalty to Maybank's 'universally equal' miles conversion rate. Sure, it sounds democratic until you realize it's more of a one-party system where the party's always in Maybank's favor. They tout their KrisFlyer conversions, knowing full well it's a wild goose chase to book a seat that doesn’t require a king's ransom.
Yet, data shows 80% of Maybankers flock to Malaysia Airlines. It's a hoot, especially since there are faster, sleeker ways to rack up those Enrich Miles with other cards. But let's not spoil the fun – let the TikTok gurus and credit card prophets preach the gospel of Maybank, while those of us with a knack for research and a taste for the finer things in travel keep reaping the rewards of better cards. To those blissfully unaware, enjoy the Maybank ride – just don’t look at what you're missing out on. Haha.
