Heartland Boy recently took a leap of faith to accept a job assignment in the chaotic streets that is Jakarta. As a recently married and henpecked husband, he agreed voluntarily to fly back to Singapore on weekends so as to spend time with his lovely wife, Ms Heartland Girl. Heartland Boy does not have the luxury of having his company fund his weekly trips home; so minimizing his airfares were a huge priority for him. Therefore, Heartland Boy set out to look for the best cash rebate credit card for frequent travellers, instead of the typical credit cards that issue frequent flyer air miles.
After comparing across various credit cards in the market, the ANZ Optimum World MasterCard Credit Card is the best cashback credit card for frequent flyers due to its headline grabbing 5% cash rebate. In this programme, the cash rebates are awarded in the form of Optimum dollars but essentially, they are effectively as good as cash. Therefore, for simplicity, Heartland Boy shall address Optimum dollars as cash rebates in this article.
How ANZ Optimum World MasterCard Credit Card Works
- Select 1 out of these 4 categories. [Dining&Leisure, Travel, Shopping, Groceries]
Table 1: Definitions of the categories under the ANZ Optimum World MasterCard Credit Card
- The selected category, otherwise known as a core category, will earn 5% cash rebate, while the remaining 3 categories (non-core categories) will earn 1% rebate.
- The cash rebate is calculated based on every multiple of S$10 where the transaction amount will first be rounded down to the nearest S$10. The table below illustrates the different type of transactions and the cash rebates applicable.
Table 2: Cash rebates applicable on the ANZ Optimum World MasterCard Credit Card
- The cash rebates will accumulate daily and eventually be rounded down to the nearest dollar on your monthly statement. Therefore, assuming that those were the only 2 transactions for the entire month, the ANZ Optimum World MasterCard Credit Card holder will earn a total of S$11 cash rebate for that particular month.
- Once you have accumulated a minimum of $50 in cash rebates, you can choose to “redeem” the cash rebate to offset the cost of your future transactions. Redemption of cash rebates are in multiples of S$50.
What Heartland Boy Likes About ANZ Optimum World MasterCard Credit Card
- With a cash rebate of 5%, it is easily the best cash rebate credit card for frequent travellers.
- No minimum spend is required on the ANZ Optimum World MasterCard Credit Card to earn the cash rebate. Therefore, even if you charge S$20 for your core category on the ANZ Optimum World MasterCard Credit Card, you already earn S$1 cash rebate for the month.
- There is no limit to the amount of cash rebate you can earn in a single month.
- Cash rebate earned have a long validity period of 3 years.
- From time to time, ANZ runs certain offers that allow card holders to earn bonus cash back.
- Annual fee is waived automatically upon request when certain spending is met.
Tips On Optimizing The ANZ Optimum World MasterCard Credit Card
- As card holders are allowed to change their core categories every quarter, you may want to switch category in anticipation of some big ticket expenditure. For instance, if you are booking year-end holidays for the family, it will be good to switch to “Travel” category to earn the maximum 5% cash rebate. After completing this big ticket expenditure, card holders can still switch back to their original core category in the next quarter. Do purchase a travel insurance policy too.
- Note that the maximum amount of cashback awarded per transaction is S$30. This translates to S$600 and S$3000 per transaction for your core and non-core categories respectively. If your transaction exceed the quantum, you may want to break up your transaction into separate receipts and payments to qualify for more cashback.
Unfortunately, unlike other travel credit cards, there are no travel rewards nor travel insurance for the ANZ Optimum MasterCard. However, the ANZ Optimum World MasterCard Credit Card is a fantastic credit card as long as one is a “heavy” user of any of the four categories. For instance, a parent with a large family may find the 5% cash rebate on groceries very useful. Heartland Boy also thinks that readers can be creative and utilise a suite of credit cards to leverage on their respective strengths. For instance, Heartland Boy uses the ANZ Optimum World MasterCard Credit Card to book air tickets and the OCBC 365 Credit Card to pay for bills at restaurants.
P.S. Related Post [Shopback: Save On Online Shopping With Cashback And More!]
Agreed!!! I think another awesome contender is also the One Card by UOB! Just applied for it!
More flexibility in terms of rebates on what u spend – can be anything, but only downside comes in the form of a cap of expenditure up to $2000 sgd only!
As i dine out frequently, My favourite combination is ANZ optimum for dining on weekdays, and OCBC 365 for weekend dining. UOB will now come in for all other spending!(:
I agree with your combination of expenditure. Well done for really maximising the rebates that different banks are offering. I would have most probably done what you are doing except that :
1) I find it quite hard to achieve min spend of $500 for UOB One and $600 for OCBC 365 Credit cards, especially considering that I am in Jakarta on weekdays.
2) I have a personal grudge against UOB, so I cease being its client for a while already. But well, that’s just me.
Easy to get annual fee waiver for ANZ?
I am not sure as my annual fee is still about 2 months away? Any success so far for you?