Three big brand names—Maybank, Grab and Mastercard, have come together to unveil the Maybank Grab Mastercard Platinum—a credit card to reward Malaysians for their mobile-first lifestyle and for using Grab services.
According to the Mastercard Impact Studies editions, Malaysians are increasing their online activities—75 per cent are surfing online for news and entertainment, 50 per cent for food deliveries, and almost half of those surveyed are shopping online.
Amidst this rapid change of lifestyle and against the backdrop of a growing digital economy, the co-branded credit card comes at an opportune time. The new card rewards internet savvy, mobile-first consumers—especially those who use Grab services.
Cardholders will earn more GrabRewards points (GRP), which can be used to redeem any Grab or partner vouchers, offset bills, and to make payments.
They will earn 5x GRP for every MYR1 spent on Grab services such as rides, food deliveries, Grab e-wallet top-up, as well as online and in-store purchases at GrabPay partner merchants.
Meanwhile, cardholders will earn 2x GRP for every MYR1 spent overseas and for e-commerce purchases. Finally, all other transactions within Malaysia will earn 1x GRP for every MYR3 spent.
Note that GRP points will replace Maybank Treat points typically linked to Maybank credit and debit cards.
Upon approval, cardholders will receive a welcome gift of 1,000 GRP and an automatic Grab membership upgrade to Platinum tier for six months. Another MYR50 Grab Vouchers are up for grabs if cardholders spend a minimum of MYR300 in total on Grab rides, food delivery or e-wallet top-up within the first 45 days.
Malaysians with a minimum annual income of MYR36,000 are eligible to apply for the Maybank Grab Mastercard Platinum which comes with a lifetime annual fee waiver.
Maybank targets 40,000 applicants for the co-branded card within the first year.
How to apply
For Maybank2u customers, simply visit the Maybank2U website and go through the fully digital application process. Approval is on the same day of application, with instant issuance of a digital card upon approval. The card can be instantly linked to GrabPay to enjoy the rewards immediately.
For non-Maybank2u customers, application is also via Maybank2u and physical credit cards will be issued within 10 business days upon approval.
The first-of-its kind credit card comes in two colours—black and white, and is specially designed to sport a sleek, minimalist look. It is the first dual-faced credit card in Malaysia.
For more information, visit www.maybank2u.com.
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