CIMB World Mastercard Review: Unlimited 2% Cashback With a Hint of Luxury

What’s better than cashback? Unlimited cashback. Start enjoying 2% unlimited cashback – the highest in Singapore – with the CIMB World Mastercard today!

Want to cash in on the highest unlimited cashback across dining, entertainment, shopping, and transport categories? Boy, do we have the card for you!

Featuring an impressive 2% unlimited cashback, the CIMB World Mastercard has definitely made an impression in the cashback world. But apart from that, it goes beyond a regular limitless cashback card. 

In fact, it surpasses its other peers with its unexpected card privileges like paid airport lounge access, 50% off green fees at international golf courses, and over 1,000 CIMB deals and discounts across ASEAN countries. 

As the cherry on top, the CIMB World Mastercard is great for the whole family because its principal and supplementary cards are free for life. And who doesn’t like free stuff?

Curious to get the deets? Then keep on reading. 

Table of contents

• Overview: CIMB World Mastercard
• Reasons to get the CIMB World Mastercard
• Eligibility, fees & charges
• How to apply?
• Should you get the CIMB World Mastercard?

What the CIMB World Mastercard can do for you

CIMB World Mastercard product summary:

• Bonus cashback: 2% unlimited cashback on dining, online food delivery, movies, digital entertainment, taxi rides, ride-hailing, automobile, and luxury goods
• Base cashback: 
  • Unlimited 1% on eligible categories if below S$1,000 spend
  • Unlimited 1% on all other spend if above S$500 spend
• Minimum spend requirement: 
  • S$500 per statement month for all other spend
  • S$1,000 per statement month for eligible categories
• No annual fee
• Free supplementary cards for life
• Annual income requirement: S$30,000 (Singaporeans/PRs)
• Minimum age: 21

Why should you choose the CIMB World Mastercard?

#1 Unlimited cashback on selected categories… at a price

• Eligible categories
• Minimum spend requirement

Just like any unlimited cashback card, the CIMB World Mastercard offers 2% limitless cashback on all eligible spend and 1% limitless cashback on all other spend. At the time of writing, this is the highest unlimited cashback in the market right now. 

This boosted 3% rate is eligible for the following categories both locally and internationally:

• Dining and Online Food Delivery
• Movies and Digital Entertainment
• Taxi and Automobile
• Luxury goods

Although we wouldn’t peg these down as everyday spend categories in particular, they’re still decent if you enjoy dining out and being a social butterfly. 

Dining & Online Food Delivery 🍔🛵

Its dining category is fairly standard, including all merchants under MCCs 5811 to 5814. However, its online food delivery has a few restrictions, being only eligible for Deliveroo, foodpanda, GrabFood (under MCC 5814), WhyQ, and AirAsia food. But in our opinion, this list of food delivery partners is extensive enough, all things considered.

Movies & Digital Entertainment 🍿🎬 

Gamers will also be pleased to know that your online game purchases are eligible for cashback too under the card’s Digital Entertainment category. 

However, do note that the following streaming subscriptions of Youtube, VIMEO, Apple, Viu, Netflix, Spotify, iTunes, Google Play Store, Disney+, and Amazon Prime Video made with Starhub and Singtel are not eligible.

Taxi & Automobile 🚗⛽

When it comes to vehicles, you’re entitled to cashback on select limousines, taxis, automotive repair and service shop MCCs. It’s a pretty long list, so we won’t list it here.

Note: While you can use the CIMB World Mastercard for public transport via SimplyGo, it is not eligible for cashback.

Luxury goods 🛍️💍

Lastly, enjoy the finer things in life by earning cashback on luxury leather goods, watches, and jewellery across MCC 5094, 5911, and 5948. After all, everyone deserves to treat themselves every once in a while.

For the full list of all of CIMB World Mastercard’s eligible MCCs, refer to their T&Cs here.

Meanwhile, all other spend will earn you 1% unlimited cashback.

BUT...

As wonderful as CIMB World Mastercard’s unlimited cashback sounds so far, they, unfortunately, come at a price – or more specifically, minimum spend requirements.

This is the biggest downside to the CIMB World Mastercard because unlimited cashback cards don’t usually impose any minimum spend requirement at all. Furthermore, the minimum S$1,000 spend is quite high – higher than that of most regular cashback cards averaging between S$600 to S$800 per month.

Needless to say, this card ironically comes at a hefty price despite being an unlimited cashback card. Hence, you’lll need to evaluate if the unlimited 1 to 2% cashback promised is worth their respective S$500 and S$1,000 monthly spends. 

If not, you’ll be better off applying for a regular cashback card here with us instead.

#2 No annual fees for principal and supplementary cards

Another plus point of the CIMB World Mastercard is its absence of annual fees for both principal and supplementary cardholders. 

Oftentimes, we see too many new-to-bank cardholders applying for a credit card (for the sign-up reward) only to cancel the card a year later just to avoid annual fees. While most credit cards typically waive annual fees for one or two years, they still inevitably charge the fee thereafter. 

That’s why we love that all CIMB credit cards waive annual fees for life. It removes one component of tracking our annual finances at least. Truly, the best things in life are free and should be shared.

Read more:
Credit Card Promotions – Exclusive on SingSaver
4 Types of Credit Cards With Lifetime Annual Fee Waivers

#3 Exclusive golfing & travel privileges

When you think of the “high SES” lifestyle, what comes to mind? Is it golfing and playing tennis on the weekends? Visiting expensive spas and massage parlours whenever? Regularly use carparks in town? Accessing fancy airport lounges before a flight departure? 

For many of us, the “high SES” life might seem unattainable but thanks to the CIMB World Mastercard, some of these privileges aren’t that far away.

Get access to over 1,000 LoungeKey airport lounges for only US$32 per person per visit when you pay with either your CIMB World Mastercard or generate a digital lounge access code from the Mastercard Airport Experiences app. Do note that this airport lounge access is limited to the cardholder and cannot be used by any other external party

Another experience you wouldn’t want to miss out on is its 50% off green fees at 42 golf courses worldwide and 50% off golf lessons at Golf Performance 360 Golf Academy under the Mastercard Southeast Asia Gold Programme. So you can literally tee off for half off with the CIMB World Mastercard if you’re ever thinking of picking up golfing – or if you just want to access the golf courses to recreate Troy Bolton’s “Bet on It” scene from High School Musical 2, that’s fine too. 😉 

You can find the list of eligible golf clubs here.

Read more:
Cheap and Free Ways to Access Changi Airport Lounges
7 Best Credit Cards For Booking Flights and Hotels
5 Best Metal Credit Cards With the Best Perks in Singapore

What charges or fees should you look out for?

• Annual fee: N/A
• Late payment fee: S$100
• Minimum monthly payment: 3% of outstanding balance or S$50, whichever is higher, plus any outstanding overdue amount
• Interest on purchases: 27.8% p.a. subjected to compounding if charges are not repaid in full
• Interest on cash advance: 28% p.a. subjected to compounding 
• Cash advance fee: 8% of withdrawal amount or S$15, whichever is higher
• Foreign transaction fee: 3% (1% by Mastercard/Visa, 2% by CIMB Bank Berhad)
• Dynamic currency conversion fee: 1%
  
  

Eligibility criteria

• At least 21 years old
• Annual income requirement for Singaporeans/PRs: S$30,000

How to apply?

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

• Front and back of NRIC/Passport/Employment Pass/Proof of Residence 
• For Salaried Employees:
  • Latest computerised payslip, or
  • Latest 12 months’ CPF Contribution History Statement, or
  • Latest Income Tax of Notice of Assessment and latest 12 months’ CPF Contribution History Statement / latest months' computerised payslip
• For Self-employed: Last 2 years' Income Tax Notice of Assessment and last 3 months’ bank statement
• For Commission-based Earners: Last 2 years' Income Tax Notice of Assessment or latest 12 months’ CPF Contribution History Statement

Should you get the CIMB World Mastercard?

As we said, the CIMB World Mastercard is the best unlimited cashback card when it comes to cashback. BUT, this is only if you can actually afford its rate. 

The minimum S$500 or S$2,500 monthly spend requirement is no joke if you’re a relatively low-spender. Moreover, it doesn’t earn cashback on other everyday spend categories like grocery shopping, SimplyGo via bus/MRT, online shopping or mobile contactless spend, petrol, or even travel expenses!

See also: Best Air Miles Credit Cards in Singapore

So, if you’re looking for more fuss-free spend, the other unlimited cashback cards like the UOB Absolute Cashback Card and AMEX True Cashback Card will float your boat more.

But if you don’t mind the minimum spend and have a penchant for luxurious privileges, then by all means, apply for the CIMB World Mastercard with us today!