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Citibank has re-launched Citibank Cash Back Platinum since last promotion (probably about May 2010), and this time it comes along with Visa & Master Card.

Citibank Cash Back Platinum (CBP) offers attractive and similar cash rebates rate to UOB ONE card (cash rebates rate has just revamped in July 2011). You don’t have to wait for specific days or special promotions to enjoy the most cash rebates from your purchases anymore and it does not require any pre-registration or minimum spending on your purchases.

You can enjoy up to 5% cash back on every day retail spend on Petrol, cash back is valid in any petrol station.

The below is the list of merchants category valid for cash rebates and calculator by Citibank which you can do a simple estimate calculation on your monthly spend and how much cash rebates you get per year.

For petrol is capped at maximum spending  of RM 600 per month, if you spend RM 600 or above for petrol usage the cash rebates will be capped at RM 30 per month. For grocery, it is capped at a RM 3000 per month (RM 60 max. rebates) for maximum spending.

Anyway, Citibank Cash Back Platinum has unlimited cash rebates and no capped for the cash rebates amount per month, cash rebates will only credited into your account once rebates is accumulated until RM 50, if you’re not reach RM 50, it will carry forward to the next month until you hit RM 50.

CBP is recommended if you are a crazy shopper or heavy credit card usage business man which offer you the maximum returns of cash rebates compare to other credit card such as Maybankard 2 Amex nor OCBC Titanium which both are offered cash rebates capped at RM 50 per month. if the more you spend at CBP, the more rebates you will earn with no capping.

Personally I suggest you can do cross-use of different cash back cards depends on which card offer the maximum rebates on the item you spend. For instance, swap Maybankard 2 Amex during weekend which offer you 5x rewards points and 5% on every purchase, swap OCBC Titanium on weekday for Petrol, Grocery, Phone Bills, Dining (selected outlet) and 1% on other purchases (which still higher than CBP – 0.3%). After cash rebates amount is reached at RM 50 for OCBC titanium & M2Amex, switch to CBP on petrol and other purchases offered at 2% rebates. You may also get HLB Essential Cards with 1% unlimited cash rebates if CBP doesn’t cover you more than 1%.

If you are a new customer to Citibank (Credit Card) you will get RM50 cash back to waive GST when you apply to CBP and swipe 3 times within 60 days of the approval of your CBP card.

The minimum requirement for CBP cards is not that high if compare to other platinum card, you can apply if your salary has reach RM 48,000 per annum. Annual fees should able to waive if you “talk” to their customer service person.