I’ve previously written about why I started using Maybank Amex credit card since 2011 and shared the fantastic deals I got from it. In this article, I will share with you about the way I make use of the TreatsPoints.
Many cards now provide cashback for your spending, but most of them if not all impose a limit of how much cashback you can claim in a month. It is also the same for Maybank Amex users – the cash back is capped at RM50. However, the TreatsPoints you can accumulate is unlimited. Here, I’ll write about how I make use of those millions of points as good as cash.
Exchange for shopping voucher
The common way to redeem for TreatsPoints might be done online, as it could be the most convenient way for some people. You can browse through their brochure here to check the items and shopping vouchers.
My son and I love to eat salmon fish, for the healthy protein and fish oil. My domestic helper usually just cook it in two ways – steam or bake. Weeks ago, my oven was broken. As a result, I do need an oven. It is important, but not urgent.
Let’s check what’s the oven I can exchange for on the Maybank TreatsPoints catalogue.
For these two choices, it will cost at least 102,800 TP, plus an RM129 cash payment. I don’t consider these two options because I need a smaller size oven. Furthermore, I can get it cheaper, with less TP redemption.
The alternative to getting an oven is to buy it at a retail store. A medium size electrical oven is adequate for our family size. With the TreatsPoints, I can exchange for related shopping vouchers. A check on the catalogue, the Aeon Jusco RM100 voucher costs 46,400 TP.
I went to a card centre as certain items can be redeemed there as well. I found that I could redeem Aeon vouchers, and managed to get a whopping 14% discount! I went to the one at 1 Utama new wing ground floor.
Press the machine for a queue number and I was called in a couple of minutes. I asked the attending personnel, and the lovely lady told me that they already have the vouchers in store, so we as customers can get it instantly at a discounted amount of TP. For RM100 Aeon Jusco voucher, I need to redeem 40,000 TP only.
Let’s do a quick math. To earn 40,000 TP, I need to swipe RM8000 with my Amex which gives 5x TP. RM100/RM8000 is equivalent to 1.25% rebate. It is quite a good rebate rate in my opinion.
So I exchanged for RM200 voucher, paid for the oven using RM180 voucher, and paid the balance of RM9. Guess what card did I use to pay the remaining RM9? Yes, you guessed it right – Maybank AMEX. Although Amex is not popular yet in Malaysia, major chain stores like AEON do accept it.
Do note that card centres are only available in Klang Valley at the moment, and the centres have a limited range of selections. Currently, you can do on-the-spot-redemption at these Maybank Card Centres located at Menara Maybank, Mid Valley (2nd Floor), 1 Utama (Ground Floor New Wing) and KLCC (Concourse Extension Suria KLCC). Check out this PDF for more details.
Even though voucher rebate rate is quite good, you still need to go through the trouble of redemption process. And the denomination of RM20 means that anything less than RM20, you will generally not pay with it, and have to cover the balance on your own.
But let me show you another way of redemption. See the picture below:
TreatsPoints Redemption at Cashier
Some stores do provide this service. They have the machine to check your TreatsPoints and let you redeem on the spot. In this example, I did the redemption at Tangs, also situated in 1 Utama Shopping Centre.
I wear shorts most of the time since my job nature doesn’t require much formal attire. So here is one that I love from Polo.
What I did was to provide my Amex card at the cashier. After a quick check, he informed that I could spend RM700+ with the TreatsPoints.
“Okay, please just redeem enough to pay for this pair of pants.”
The exchange rate is also the same at 400 TreatsPoints for RM1, equivalent to 1.25% benefit of the amount you paid with Maybank Amex.
So again, I got my new pants without forking out any money.
For the complete TREATS on-the-spot redemption outlets directory, check out this PDF on Maybank website. Other than Tangs, there are many popular merchants like Courts, Epicentre, Focus Point, Pathlab, Home Fix, Parkson and more.
So you see, the TP earned is as good as cash. Next, I will share with you another method to make great use of your TP with even higher rewards.
Exchange for Air Miles
What do you normally do when planning a vacation, especially going oversea? I think the first thing you will want to find a bargain is the flight tickets. Now with budget airlines mushrooming, it is not hard to find good deals, and we will gladly pay with our own money.
However, do you want to fly for free? Or better yet, fly business class? Here is a viable way to get free business class tickets just by exchanging your TreatsPoints to Air Miles with major airlines including Malaysia Airline, Singapore Airline, Cathay Pacific and even AirAsia.
Let’s do a quick check online to find out how much TreatsPoints – Air Miles exchange rate.
Then, let’s find out how much Air Miles you need to travel to various places. Take a look at this table on Asia Miles (Cathay Pacific).
Around Asia, the destination country our family enjoy visiting the most is Taiwan. I don’t mind going there every year for the friendly people and delicious food there. A quick check to fly on economic class with Cathay Pacific, it will cost RM983 for Economy Supersaver return ticket.
For business class, it is RM2376.
In term of miles, the distance from Kuala Lumpur to Taipei is 2,008 miles, which falls into Award Zone B. It costs 30,000 Asia Miles for an Economy Class return ticket and 50,000 for a Business Class return ticket.
Here come the number crunching section:
7420 TreatsPoints = 1000 Asia Miles
30,000 Asia Miles = 30 x 7420 TP = 222,600 TP
With the Maybank AMEX 5X TP reward, 222,600 TP = RM44,520 spent.
The rebate value = RM983/RM44,520 = 2.2%
This is already double the reward you get compared to exchanging for shopping voucher.
How about business class ticket?
50,000 Asia Miles = 50 x 7420 TP = 371,000 TP
In term of spending on AMEX = RM74,200
The rebate value = RM2376/RM74,200 = 3.2%
I think by this time, I should have got you excited about this trick. I certainly am excited right now. But wait, there is another great feature that most people don’t realise. I was also blinded for many years until our sifu Peter Lim prompted me recently. Do I own the Maybank 2 Card Premier?
For Premier card, the exchange rate is much better. Instead of 7420 TP for 1000 Air Miles, it only takes 4770 TP! In the same scenario above, the rebate rate if you have the Maybank 2 Cards Reserve American Express is calculated below.
Business Class Tickets
50,000 Asia Miles = 50 x 4770 TP = 238,500 TP
In term of spending on AMEX = RM47,700
The rebate value = RM2376/RM47,700 = 4.98%
WOW! Almost 5% reward for my spending with Maybank AMEX.
How do you qualify for the Maybank 2 Card Premier?
So I quickly upgrade my Platinum card since I am already a user with a credit limit above RM20k, I can get an upgrade without income proof. Peter introduced David from Penang who serves Maybank premier customers. He is so helpful that my upgrade was done over a simple phone call. Days later, I got a message of upgrade application approval.
I’m also going to apply for a supplementary card for my wife. The reason is that it is easier to accumulate and combine expenses to redeem Air Miles, compared to doing it separately. If we both have separate cards, there will be a minimum maintenance amount to waive the annual fee.
So here are the ways that I make use of the TreatsPoints accumulated with Maybank Amex to get reward ratio from 1.25% up to 5%. How about you?
Do you have the Maybank 2 Cards too? If not, do consider it especially the AMEX for:
– 5% weekend cash back on all spend including Petrol (local, overseas, online) – Capped RM50
– 5x treats points every day on all payment including Petrol (local, overseas, online) – uncapped!
Be a Maybank 2 American Express Card member today by heading here: http://bit.ly/KCxM2Amex
If you already own a Maybank AMEX card, I would love to hear your experience of using it. Tell me in the comment section below.