I have been a user of Maybank’s Petronas credit card for quite a while. Not because I pump Petronas petrol though, but because it has Visa payWave, and is free for life without any credit card tax and service tax, no strings attached. When the card was nearing expiry, the banker called me up. I was offered a choice of renewing the same card or upgrading to Maybank Petronas Platinum card. Don’t get the wrong idea, it is not difficult at all to qualify for platinum card nowadays.
After I was shown a sample of what the cards will look like, I chose the former.
The banker was surprised that I refused the chance to upgrade to platinum card. He was even more surprised that I chose the card based on the card’s design. He kept insisting that the platinum card will remain to be free for life with no strings attached. He also kept insisting that there is a plethora of benefits only accessible to platinum card holders. I thanked him and promised him that I will look for him if and when I decided that I want those platinum privileges.
The thing is, I don’t need a platinum card. Even with the normal card that I am having now, the credit limit is already 5 times my monthly salary. Yeah, I am a lowly paid engineer, now you know. I don’t use even 10% of the credit limit as it is now, I sure as hell do not need a card with a credit limit of 10 times my monthly salary.
And those platinum card perks? I was a platinum card holder with another bank for a few months, so I kind of know what’s the deal. They gave it to me for free after I got housing loan from them. After holding it for a few months out of curiosity and ego, I terminated that card.
As far as I know of, there are mainly 2 types of benefits if you hold a platinum card.
- You get periodic invites to stay at high end luxurious resorts/cruises at a discounted price.
- You get a really expensive gift (watches mostly) if you spend more than a few hundred thousand ringgit in a year.
Yeah… I have no use for these stuff. So the platinum card is rather pointless for me, isn’t it? Might as well go for a beautiful looking card instead.
I left the bank with a distinct impression that the banker felt that I am an idiot for passing up the opportunity to get increased credit limit and platinum card bragging rights. Apparently I am the first person that refused that ego boosting privilege. I am interested to know, is there anyone else who thinks like me with respect to credit cards?