CompareHero Credit Card for Car Owners

7/25/2019 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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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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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]

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CompareHero Credit Card for Car Owners

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