OCBC Bank (Malaysia) Berhad is repositioning its credit cards by offering 0.5% to 1.2% rebate on any retail purchase and by removing the maximum rebate limit.

The move by the bank is to make its card a ‘must-have second card’ with every individual in the country.

Currently, all the other credit cards in the market have a cap of around MYR30 ($9.3) to MYR50 ($15.5) and limit the types of purchases to which rebates apply.

According to OCBC Bank cards and unsecured lending head Chow Theng Kai, while the bank accepts that others might have better rebate offerings at certain establishments, paying with OCBC Cards everywhere else makes sense for consumers.

"Some of the time, other banks would have something better to offer, mainly for petrol and groceries. But when you notice there is no special deal or discount, all you need to do is pay with your OCBC Card and, depending on which card you hold, you get up to a 1.2% rebate on everything, with no cap," Theng Kai said.

The lender has also introduced the OCBC World MasterCard that offers 1.2% rebate on all spending. Its other benefits include KLIA Premium Lounge access, MYR2m ($620,300) travel insurance, a 24hr concierge service and a 24hr priority hotline.