comparehero credit card for car owners
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Insights - Credit Cards forCar Owners
www.comparehero.my
June, 2016
http://www.comparehero.my/ -
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We have kept separate cards in our research for islamic / generic segments
Removed cards that require special eligibility to register (e.g: UUM-BSN Credit Cards) and thatwere clearly targeting other segments such as travel rewards, airmiles, etc
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The cashback rate ranges from 1% to 10%. This focuses on how the cards are promoted, anddoes not take caps and spending requirements into account.
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Most bank offers 1x Reward Points for every RM 1 spend on petrol spending.This does not take the value difference of points across banks into account
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Profiles High Medium-High Medium Low Rationale
Usage
Heavy usage forpersonal & business.Pump petrol every 2
days in a week or more
Medium-heavy usersmainly for work-related
travels. Frequenttravellers.
Average uses, pumpspetrol once a week.
Rare usage for petrol.Card purpose mainly for
emergency usage.
Petrol usage will directlimpact the monthly
petrol consumption andspending
Typicalcustomer
Uber, GrabCar,
GoGet
Sales Managers,Property Agents,
Insurance Agents, Salesand Marketing
Personnels
General Executives
Low income group /
Freelancers. People that
use public transportation
From research on thepetrol usage, we identif
the typical clusters ofcustomers that reflect
said usage
Annual income >= RM60,000 >= RM120,000 >= RM36,000 >= RM24,000
Annual income isincluded as it will be on
of the compulsory
requirements of CCapplication
Monthly petrolconsumption
600 500 400 300
These number areunder the assumption
that all petrolconsumption was paid
using CC
Assumedmonthly retailCC spend
RM2000 RM2500 RM1000 RM500
Monthly retail CCspending affects the
final amount of rewardsof some cards
Assumed totalmonthly CCspend
RM2600 RM3000 RM1400 RM800
Some cards setsminimum monthly
spending for the CCowner to be eligible for
the rewards
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Profiles Name High Medium-High Medium Low
1. Assumed monthly 10 transactions, with minimum of RM 50 each transaction2. Assumed petrol spending on Friday & Saturday3. a) assumed retail spend = RM2000. b) assumed retail spend = RM2500. c) assumed retail spend = RM1000. d)
assumed retail spend = RM5004. assumed retail spend consist of only groceries5. a) assumed spending at Petronas only on weekdays. b) assumed spending at Petronas only on weekend
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Profiles Name High Medium-High Medium Low
6. a) assumed spending at Petronas. b) 7% cashback rate as probable statement balance >RM3000 c) 3% cashback rate as probablestatement balance
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Profiles Name High Medium-High Medium Low
10. a) Assumed all spend is made on weekdays. b) Assumed all spend is made on weekends
11) Assumes petrol spend is past the first Rm1,000 and 0.5% cashback is obtained, except for the low user, which received a 1% cashback
as his total monthly retail spend stays below RM 1,000
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Profiles Name T&C
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Profiles Name T&C
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Profiles Name T&C
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http://www.comparehero.my/mailto:[email protected]