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Cashback credit cards are cards that offer cashback on your card purchases. The amount of money you receive is based on the cashback percent rate offered by banks for each specific card. These cards would allow you to save some money on your card expenses.
Make the most of your transactions with the best cashback credit cards. With cashback on petrol, groceries, shopping expenses, utility bills, and other retail purchases, you can save more on your purchases.
5% (domestic)on Petrol
5% (domestic)on Grocery
None on Shopping
None on Utility Bills
None on Retail Purchases(Cashback)
Up to 5 TreatsPoints on expenses.(Reward Points)
Free for the first year. RM550 from second year onwards.(Annual Fee)
None on Petrol
None on Grocery
3% cash rebate on online Shopping transactions
None on Utility Bills
None on Retail Purchases(Cashback)
Up to 15% cashback on Petrol
0.20% cashback on Grocery
0.20% cashback on Shopping
Up to 15% cashback on utility bills
Up to 15% cashback on online retail purchases and 0.2% on all other categories(Cashback)
First year waived. RM250 from second year onwards, waived if yearly spend is a minimum of RM20,000 p.a.(Annual Fee)
10% cashback (based on the chosen category) Petrol
10% cashback (based on the chosen category) Grocery
10% cashback (based on the chosen category) Shopping
10% cashback (based on the chosen category) Utility Bills
10% cashback (based on the chosen category) Retail Purchases(cashback)
Up to 8% cashback on Petrol
Up to 8% cashback on Grocery
Unlimited 0.2% cashback on Shopping
Unlimited 0.2% cashback on Utility Bills
Unlimited 0.2% cashback on Retail Purchases(cashback)
RM240 for principal card. RM120 for supplementary card.(Annual Fee)
*A sales and service tax of RM25 will be imposed on the credit cards upon renewal or new card sign up.
Most cards would give cashback on a specific spending type such as petrol, grocery or dining. If you spend a lot of money on a particular type, you can save money on such spending by using a cashback credit card. Since you would receive a portion of your money in your account, you can even use that money to make payments on your card.
All cards would differ in terms of cashback and spending types. You can check the features and benefits of each card to choose one that will suit your lifestyle and budget. A suitable card would allow you to use it on things that you love and save some money simultaneously.
However, you need to remember that in order to save money you have to pay the outstanding dues on time. The interest rates charged for outstanding dues on these cards are more than the cashback you would receive.
In order to illustrate how cashback credit cards work, let’s take the example of Standard Chartered JustOne Platinum Credit Card. Since the card gives cashback on different categories, the following table shows transactions for different types of expenses. The total amount spent on the card is RM2,300.
|Spend Category||Amount Spent||Cashback (%)||Cashback Calculation||Cashback Earned|
|Electricity Bill (through auto-bill payment)||RM500||10%||RM500 x 0.10 = RM50||RM50|
|Water Bill (through auto-bill payment)||RM300||10%||RM300 x 0.10 = RM30||RM30|
|Online Spends||RM200||10%||RM200 x 0.10 = RM20||RM20|
|Petrol transactions||RM600||10%||RM600 x 0.10 = RM60||RM60|
|Other retail expenses||RM700||0.2%||RM700 x 0.02 = RM14||RM14|
The total cashback earned is RM174. However, with the cashback cap of RM28, only RM28 shall be credited to the account.
Cashback credit cards also provide a number of benefits on the card.
These credit cards provide cashback on a wide range of transactions, including petrol, retail purchases, utilities, groceries, and shopping among others. There may be some categories which have a higher cashback percentage than others, and they usually come with a cap. Some cards also offer unlimited cashback on certain categories. Depending on the nature of the card, some credit cards may offer you higher cashback than others.
Some cards offer complimentary travel insurance when you charge your full airfare on the card. The insurance is provided to protect you and your family in case of any unfortunate event during the journey. The insurance also covers flight delays, loss of luggage, and others. Among the cards listed above, Maybank Visa Signature Card provides a travel insurance of up to RM2 million.
Everything depends on how you use the card. Suppose you spend a lot on fuel payments and groceries, the Maybank Visa Signature Card can work in your favour. Similarly, if you use your credit card for online purchases, a card such as Standard Chartered JustOne Platinum credit card shall be more useful to you.
In order to get maximum cashback, you should use your card for a wide variety of transactions. Do keep a note of the different categories which gives you cashback, and the different caps on them. For example, the UOB One Platinum Credit Card gives a 8% cash rebate when you buy movie tickets on the weekends. You can also get substantial cashback on purchases related to petrol, groceries, and mobile. Use the card on the weekends to make the most out of it.
Check the partner outlets and use your card to reap more benefits. Also, look for various promotions available with partnering outlets and use your card accordingly.
In case you have lost your card, please contact the bank immediately by calling their helpline number. The bank should be notified at the earliest in order to prevent any unauthorised transactions. The bank would block the card accordingly, and you will be issued a replacement card at a nominal fee or for free (depends on the bank).
Each bank also have a support desk catering to international expenses. When you are travelling abroad, you can call this helpdesk and get support for any of your issues. Some premier cards also have their exclusive support desk aimed at select customers.
|Minimum age requirement (Principal Card)||21 years|
|Maximum age requirement (Principal Card)||65 years|
|Minimum age requirement (Supplementary Card)||18 years|
|Maximum age requirement (Supplementary Card)||65 years|
|Maybank Visa Signature Card||RM70,000 to RM100,000 p.a.|
|AmBank TRUE Visa Credit Card||RM36,000 p.a.|
|Standard Chartered JustOne Platinum Credit Card||RM24,000 p.a.|
|Hong Leong WISE Platinum Credit Card||RM60,000 p.a.|
|HSBC Amanah MPower Visa Platinum Credit Card-i||RM36,000 p.a.|
|Applicant Type||Documents Required|
|Expatriate (if eligible)||
Cashback credit cards can be very helpful when used judiciously. You can compare different cashback credit cards online and choose the one that suits your lifestyle.
Q. Is there always a cap on the cashback provided on the card?
A. Not necessarily. Depending on the card you use, you may get unlimited cashback on certain transactions. For example, among the cards given above, HSBC Amanah MPower Visa Platinum Credit Card-i provides unlimited cashback on different transactions. Usually, the percentage of cashback for unlimited transactions is usually very low. Make sure you read the related documents of the card carefully in order to know more about how the cashback works.
Q. I need to furnish my credit card bills to a bank for a loan. Is there a way in which I can get a hard copy of my transactions?
A. Yes. You can apply for a sales draft retrieval copy for a fee. The fees may vary from bank to bank.
Q. Is there any way to stop the Card-not-Present functionality of the card?
A. Yes. Most banks allow you to stop the Card-not-Present functionality. You can contact the bank and request them to stop the functionality. It is advisable to verify with the bank whether such a process can be done or not.
Q. Are there any differences between Islamic and conventional cards?
A. Yes. Conventional cards can be used for a variety of purchases, however Islamic cards can only be used for Shariah-compliant transactions. The below mentioned purchases are excluded from Islamic cards:
Q. Where can I apply for a card?
A. First, check with the bank on how to apply for the card. Usually, banks have a online application system in place. You can submit the application online or through the counter. A bank representative will get in touch with you to help you further the application. You can also call the bank’s helpline number for further assistance.
Q. Do I get a cashback on all transactions?
A. Although most credit cards offer a cashback on all kinds of retail transactions, some of them don’t consider fuel expenses, government agency spends, or card-related transactions such as monthly repayments, finance charges, etc. It’s important that you go through the fine print so you’re aware of what transaction does and what doesn’t qualify for a cashback.
Q. Can you use the cashback you’ve earned to pay your card’s annual fee?
A. Quite a few card issuers allow you to use the cashback you earn using your credit card to pay off the annual fee or even offset it for your monthly payments.
Q. Are there any terms and conditions of cashback?
A. Yes. Most banks have their own specific terms and conditions. They could impose a monthly cap on cashback. This would mean that there is a limit on the amount you can earn back while using your card. All such terms and conditions would be specified by each bank so that you are aware of the limitations.
Q. What happens to my cashback if I return any goods that I purchased?
A. Most banks in Malaysia reverse any kind of cashback that’s processed in case of refunded, disputed, unauthorized, or fraudulent retail transactions.
Q. How long would the application process take?
A. The processing time would vary from bank to bank. If your card application is approved, you would receive your card within 7 to 10 working days.