If you’re on the lookout for a rewards credit card, the Alliance Bank Platinum might interest you. Besides the fact that you can actually earn rewards points quickly through this credit card, these points don’t expire. So, you’re free to use them whenever you want to!
But there’s plenty more that you need to know about this card apart from the number of reward points on offer. Read our review to get a complete lowdown of this card and how it compares against another rewards card.
Here’s a brief summary of the review:
What we like the most
What fails to impress
|Earn Rewards Points on most retail spends, which can be redeemed for gifts and air miles
Rewards points never expire
|Limited airline partners
Unlimited lounge access to KLIA only for Alliance Privilege and Alliance Personal members
Now let’s discuss the Alliance Bank Platinum Credit Card in more detail:
Earn reward points on all kinds of retail spends
The Alliance Bank Platinum Credit Card rewards you handsomely with points that don’t expire. Hence, the name – Timeless Bonus Points. Here’s what you get when you use this credit card for all your retail transactions:
- Earn 3x Timeless Bonus Points (TBP) for every RM1 spent overseas
- Earn 2x Timeless Bonus Points for every RM1 spent on utilities, petrol, and groceries
- Earn 1x Timeless Bonus Points on all other local retail spends
Plenty of goodies to redeem
As part of the Alliance Bank Rewards Program, you can now redeem your Timeless Bonus Points for attractive gifts and lifestyle products on the Alliance OneBank Rewards catalogue. You’ll also be privy to exclusive deals that let you redeem lower points totals for gifts every quarter.
You can also redeem your Timeless Bonus Points for air miles of partnering frequent flyer programmes, including Enrich Miles and AirAsia BIG.
Here’s the air miles redemption rate for each of our partners:
- Enrich Miles: 6000 TBP = 1000 Enrich Miles
- AirAsia BIG Points: 3000 TBP = 1000 BIG Points
Other features of the card that you should know
The Alliance Bank Platinum Credit Card isn’t all about reward points alone. It does boast a host of other features and benefits that’ll stand you in good stead whether you’re heading overseas or going on a shopping trip in your city.
Here are some of the other features of this credit card:
To begin with, you get unlimited complimentary access to the Plaza Premium Lounge in KLIA if you’re an Alliance Privilege or Alliance Personal member. You even get a dedicated customer service hotline to ensure prompt assistance at all times.
Next up, you don’t need to worry about making payments when you’re abroad as this Alliance credit card is recognised and accepted around the world. That’s not all; you won’t be held liable even if you lose the card as long as you report it on time.
You also get to enjoy exciting offers, discounts, and privileges at partnering merchants.
Lastly, this card allows you to withdraw cash up to 100% of your credit limit. You also get to enjoy an interest-free period of 20 days as long as you’ve settled your previous balance in full.
Liked this credit card? Apply for it now on BBazaar and get an exciting gift!
Card Type : Rewards
Earn 3x Timeless Bonus Points on every RM1 spent overseas
Earn 2x Timeless Bonus Points on every RM1 spent on utilities, petrol, and groceries
Earn 1x Timeless Bonus Points on all other local retail spends
Minimum income – RM60,000 p.a
Minimum age – 21 years old
For Salaried Professionals (MNCs/PLCs & Non MNCs/PLCs): Copy of NRIC (both sides) or a valid passport, last 3 months’ salary slip, last 3 months’ bank statement showing salary being credited, latest EPF statement, or latest Borang BE with official tax receipt/bank-in slip
For Self-Employed Professionals: Copy of NRIC (both sides) or a valid passport, last 6 months’ bank statement, Business Registration Form and Form D or Form 9, 24, 49, latest EPF statement, or tax return form with official tax receipt
Annual fee: Principal card – RM438 (with 0% GST). The annual fee can be waived with a minimum spend of RM5,000 p.a. or charging the card at least 12 times within a 12-month period. Supplementary card – Free for life
Interest rates: 15-18% p.a.
Late payment charges: The higher amount between 1% of the total outstanding balance and RM10. This charge is limited to an amount of RM100.
So, how does this card fare against its competition?
The fact that the Alliance Bank Platinum Credit Card works well for travellers and retail shoppers alike makes it difficult for us to categorise it. But, to know how good a card it really is, a comparison is essential. For this reason, let’s compare it with a popular travel credit card – the Citi PremierMiles Visa Credit Card (read review here).
|Name of the Card||Benefits||Cost per Frequent Flyer Programme (FFP) air mile||Airport Lounge Access||Annual Fees|
|Alliance Bank Platinum Credit Card||3x Timeless Bonus Points for every RM1 spent overseas
2x Timeless Bonus Points for every RM1 spent on utilities, petrol, and groceries
|RM2 per Enrich air mile in case of overseas spends||Unlimited access to the Plaza Premium Lounge in KLIA if you’re a PB or AP member||RM438 (with 0% GST)|
|RM3 per Enrich air mile in case of local eligible spends|
|Citi PremierMiles Visa Credit Card||2 PremierMiles for every RM3 spent overseas and online
1 PremierMile for every RM3 spent locally
|RM2.25 per FFP air mile in case of overseas and online spends||Unlimited access to Plaza Premium lounges across Malaysia||RM600 (with 0% GST)|
|RM4.5 per FFP air mile in case of local spends|
As you can probably see, the Alliance Bank credit card comes up trumps when you consider the most important aspect of a travel card – the cost of a Frequent Flyer Programme air mile. Even though it’s not positioned to be an out-and-out travel card, it does fare well against the Citi air miles card.
It even costs less in terms of an annual fee – RM438 as opposed to RM600 for the Citi credit card. What’s more? The Alliance Platinum Credit card’s fee can be waived if you spend a minimum of RM5,000 over the year, or if you charge the card at least 12 times annually.
In addition, you get to enjoy a host of retail shopping benefits, such as zero-interest payment plans with the Alliance Bank credit card.
However, the Citi Premiermiles is partnered with more airlines, and also offers a host of other travel benefits like complimentary rides home from KLIA1, travel insurance coverage, etc.
To sum things up, the Alliance Platinum Credit Card can be classified as a rewards card as it offers a handsome return of points whenever you use it for any retail shopping. But, the fact that it offers a great air miles redemption rate makes it an able contender to be a good travel credit card too – one that can be afforded by average to middle range earners as well.
Want more options? Check out our other credit card reviews:
- Standard Chartered Visa Platinum Credit Card Review: The Simple Way to Earn More Rewards Points
- Citi Prestige Review: A Premium Credit Card with Many Exclusive Privileges
- Alliance Bank You:nique Review: A Truly One-of-a-Kind Credit Card?
- Citi Cash Back Card Review: How Good Is This Rebates Credit Card?
- Standard Chartered JustOne Platinum Explained: An Affordable Card with a High Cashback Rate
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