[ UPDATE 24/5/2023 3:31 PM ] CIMB representative has clarified that the cash rebates are also available for users that utilise Setel’s direct card link feature, CardTerus.
CIMB Islamic Bank and Petronas Dagangan Berhad (PDB) have recently collaborated together to launch the brand-new CIMB Petronas Visa Islamic credit cards. What made these new cards rather interesting though is the fact that they offer cash rebates for electric vehicle (EV) charging.
On top of that, CIMB Islamic and PDB also claimed that the new cards are currently the highest Petronas cash rebate credit cards in the market. The exact amount of cash rebates that you would get depends on specific cards though.
For example, the CIMB Petronas Visa Infinite-i provides a 12% cash rebate for EV charging but that being said, you have to maintain a statement balance of at least RM4,000 in order to be eligible for this rebate rate. Otherwise, you can settle down for the 6% rate if your statement balance is between RM1,500 to RM3,999 but regardless of that, the maximum rebate that you can get per month is RM60.
On the other hand, there is also the CIMB Petronas Visa Platinum-i which provides a cash rebate rate of 8% if your statement balance is RM2,000 and above. For a statement balance between RM500 to RM1,999, the applicable rate would be 4% but once again, the monthly cap for this card is still RM50 for both levels of statement balance requirements.
Naturally, these cards do come with other perks as well. Here is a general look at the main benefits that are being provided by the new CIMB Petronas Visa Islamic credit cards:
After reaching out to CIMB in order to obtain further clarification regarding the EV charging cash rebates, we have since learned that the rebate calculation is based on the amount of top up that you performed on Setel’s wallet using either of these new CIMB Petronas Visa Islamic credit cards. If you prefer to utilise Setel’s CardTerus direct link feature instead, you are still eligible for the cash rebate as well.
Ultimately, what this really means is that you can enjoy the cash rebate even if you prefer to charge your EV at Gentari or JomCharge EV chargers outside of Petronas stations such as the ultra-fast 350W DC chargers at X Park Sunway Serene. This is as long as you utilise them through Setel with the wallet balance that was topped up using the new CIMB Petronas Visa Islamic credit cards.
In terms of the bigger picture, the inclusion of EV charging cash rebates as part of the perks for these new cards is yet another sign of increasing interest from the local financial institutions towards the green vehicle segment. Prior to the new Visa Islamic credit cards, CIMB has previously launched a comprehensive financial solution specifically for EVs while other local banks such as Maybank, RHB Bank, Bank Islam, and Bank Muamalat also have begun to come out with offerings that target green vehicles.