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If the published statistic is correct, than on average, each of the credit cardholders in Malaysia owns 3 to 4 credit cards. And this creates a huge problem for the issuer banks – how to ensure their card is the cardholders prefer card, or the most frequently use card!

Despite this challenge, banks have never short of coming out with creative frequent usage program, this includes what I called “Big Spender” lucky draw. Essentially, big spender lucky draw is about entice the cardholders to use the card as frequently as possible to accrue a large charge amount as a ticket to enter a contest. Normally such contest is applicable only to retail transactions excluding any on-line payment, auto-debits, standing instructions, balance transfers, cash advance, finance charges, late Charges etc.

Here is a quick look at the on-going big spender contests:

MBF’s “Got 5″ (1st June – 30th Sept)
The MBF ‘Got 5” contest is about collecting 3 card transaction slips with an approval code ending with “5″ within the month (each approval code contains 6 digits). On top of that, each transaction amount must have a minimum charge of RM50.00. Take note, You can only have 1 transaction slip from the same merchant on the same day , multiple transactions would not be counted. The 1st 100 successful call-in within the month that met all the requirements will win a Samsung LCD TV. Bottom line: Assume a normal distribution, you have to use the card 10 times to get one “5″ to get three “5″you need to use the card 30 times within a month. Total charge to the card is then equals to RM50x 30 times = RM1,500. RM1,500 is the price you paid to enter the contest

UOB’s “Match-n-win” (1st Jul – 30th Sept)
UOB “Match-n-win” contest is very much similar with MBF’s. To qualify, cardholders need to collect card transaction slips that the last 2 digits match with the cardholder’s birth year. The transaction slips must have a minimum spend of RM80. The first 80 successful entries will then share the monthly pool money of RM80,000. And if you have a transaction slip that matches with your full birthday detail in an dd/mm/yy format, and are the first one of the month, you get to win RM10,000. Bottom line: The chances of matching your birth year with the slip are 1/100 with the expected returns ranging from RM10 to RM800 (probability x prize money), the ‘cost’ of entry is RM80.

Standard Charted Bank’s Big Reward (1st Jul – 30th Sept)
This is a straight forward lucky draw contest with every RM50 charge on the card is having a shot for a Philip 32 inches LCD TV every day. The winner selection is based on random number draw.

Conclusion:
Winning any of these contests is purely to do with luck. However, if you carry 3 to 4 credit cards in your wallet, when it come to which card to use, such Big Spender contests do have a powerful top-of-mind awareness psychological effects. but be smart, don’t get draw to these contests by spending lavishly. Always pay your card in full and on time.

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