• Best Cashback Credit Cards 2018

    A cashback credit card offers cashback on your transactions and purchases in different categories that include shopping, petrol, travelling, etc. Let’s take a look at some of the top cashback credit cards in Malaysia offered by various banks:

    Here are the Best Cashback Credit Cards in Malaysia 2018

    Updated on 10th April 2018

    Credit Card Name
    Petrol Expenses
    Groceries
    Shopping
    Retail Expenses
    Know More
    Maybank Visa Signature

    5% cashback on all domestic petrol purchases

    5% cashback on all domestic grocery expenditures

    NA

    1 TREATSPoint for every RM1 spent locally (No TREATSPoints for petrol and grocery purchases)

    NA
    NA
    NA

    Up to 5% cashback every month on your expenditure

    NA
    NA
    NA

    Up to 1% cashback(0.6% cashback on the first RM5,000 spent – Tier 1 and unlimited cashback of 1% on subsequent expenses – Tier 2)

    NA
    NA

    Up to 10% cashback on shopping expenditure charged to the card every Wednesday, Saturday, and Sunday

    NA
    PB Gold MasterCard Credit Card

    NA

    NA

    NA

    Unlimited Cash MegaBonus of 0.1% on retail purchases, both local and overseas

    NA
    NA

    Up to 6% cashback on foreign currency spends

    Up to 6% cashback on entertainment and online expenditure, locally and overseas

    Up to 10% cashback

    Up to 10% cashback on groceries and dining

    NA

    Up to 0.2% cashback

    Up to 5% cash rebates

    Up to 5% cash rebates

    Up to 5% cash rebates

    Up to 5% cash rebates

    NA
    NA
    NA

    Monthly cash rebates of up to 3% on all retail transactions without any requirements of spending it on a set category

    Up to 8% cashback

    Up to 8% cashback

    NA

    Up to 0.2% cashback

    Maybank Visa Signature Credit Card

    Ideal for:

    • Earning cashback through the month
    • Earning TREATSPoints locally as well as overseas

    Key and additional benefits:

    • Get up to 4 supplementary credit cards free.
    • TREATSPoints can be converted into cash without any capped limit (40,000 TREATSPoints = RM100).

    Keep in mind:

    • TREATSPoints are valid for 3 years.
    • TREATSPoints earned only from spending via Maybank Visa Signature card are eligible for redemption for cash.

    Standard Chartered Cashback Gold MasterCard

    Ideal for:

    • Winning cashback on every purchase

    Key and additional benefits:

    • Get annual fee waiver for the first year.
    • Obtain offers and privileges at more than 4,000 outlets in Malaysia and across Asia.

    Keep in mind:

    • Minimum expenditure of RM500 is required to earn 2% cashback.
    • Insurance-related transactions and petrol station expenditures will not be entitled for cashback.
    • Minimum expenditure of RM800 is required to earn 3% cashback.
    • Minimum expenditure of RM1,500 is required to earn 5% cashback.

    Hong Leong Essential Credit Card

    Ideal for:

    • Earning cashback of up to 1% without any cap

    Key and additional benefits:

    • Get annual fee waiver for lifetime if you make minimum 12 retail transactions each year or spend minimum RM8,000 every year, on retail shopping.
    • Enjoy low cash advance fee of 2% of the amount withdrawn.

    Keep in mind:

    • If you don't qualify for the annual fee waiver, you need to pay RM100 as an annual fee.

    UOB Lady’s Classic Credit Card

    Ideal for:

    • Shopping and other luxurious purchases

    Key and additional benefits:

    • Earn birthday rewards from various merchants.
    • Enjoy 0% Instalment Payment Plan with convenient tenures of 6 and 12 months.

    Keep in mind:

    • Minimum qualifying spending of RM300 per month is necessary to earn cashback.
    • Maximum cashback awarded for each month is capped at RM30.

    Public Bank Gold MasterCard Credit Card

    Ideal for:

    • Spending on local as well as international retail purchases

    Key and additional benefits:

    • No annual fee is charged for the first year.
    • If the card is swiped 12 times over the preceding 12 months, you will get an annual fee waiver.
    • Help Desk is available for assistance 24x7.

    Keep in mind:

    • If you don't qualify for the annual fee waiver, you need to pay an annual fee of RM159 for a principal card, and RM106 for a supplementary card.

    RHB Visa Signature Credit Card

    Ideal for:

    • Earning cashback of up to 6% on local and overseas purchases

    Key and additional benefits:

    • Enjoy 5x complimentary access to Plaza Premium Lounges in Malaysia.
    • Enjoy complimentary as well as discounted green fee at major golf courses in Malaysia.
    • Enjoy an annual fee waiver for lifetime.
    • Access a Travel Insurance Cover of up to RM600,000.

    Keep in mind:

    • Expenditure between RM1,000 to RM2,499 will earn you up to 1% cashback on domestic purchases and 0.5% cashback on overseas expenditure.
    • Expenditure between RM2,500 to RM3,499 will earn you up to 2% cashback on domestic purchases and 1% cashback on overseas expenditure.
    • Expenditure from RM3,500 and above will earn you up to 6% cashback on domestic purchases and 2% cashback on overseas expenditure.
    • Minimum annual income of RM80,000 is required to obtain the credit card.
    • Minimum credit limit of RM15,000 is necessary.
    • Cashback earned for overseas purchases is capped to RM100.

    Citi Cash Back Credit Card

    Ideal for:

    • Spending on dining, groceries, petrol and other local retail transactions

    Key and additional benefits:

    • Get up to 10% cashback on all petrol, grocery and dining expenses.
    • Obtain up to 10% cashback on GRAB rides.
    • Enjoy unlimited 0.2% cashback on all other retail expenses.
    • Cashback earned will be credited automatically into your account.

    Keep in mind:

    • Annual fee of RM127.20 is charged to obtain this card.
    • 10% cashback capped to RM15 per category per month when minimum monthly expenses exceed RM1,500.

    CIMB Cash Rebate Platinum MasterCard

    Ideal for:

    • Earning cashback on movies, petrol, groceries, mobile and utility bill payments

    Key and additional benefits:

    • Obtain unlimited cash rebates on your online purchases and other retail expenditures.
    • No annual fee is charged for both principal and supplementary cards.

    Keep in mind:

    • You can get 5% cash rebate on statement balance of RM3,000 and above.
    • For statement balance below RM3,000, cash rebate of 2% is provided.
    • Cash rebates are capped to RM30 per car every month.
    • Minimum annual income required to obtain the card is RM24,000.

    Alliance Bank You:nique Card

    Ideal for:

    • All types of purchases and transactions as it offers unlimited rebates regardless of the category of spend.

    Key and additional benefits:

    • You can add a personal touch to this card with the help of Personalised Card Face facility through which you can choose your own/any picture to put on your credit card.
    • The card comes with annual fee waiver for first 3 years.
    • You can earn 2x Timeless Bonus Points (TBP) on each RM1 spent with the card.

    Keep in mind:

    • You need a minimum spend of RM2,001 to RM3,000 to earn the 3% cash rebate.
    • You can earn Timeless Bonus Points on retail purchases excluding government agencies related transactions and petrol purchases.

    HSBC Amanah MPower Platinum Credit Card-i

    Ideal for:

    • Petrol and grocery expenses

    Key and additional benefits:

    • Earn up to 8% cashback on everyday petrol, and grocery purchases.
    • Enjoy an unlimited 0.2% cashback on all other retail purchases.
    • Obtain discounts at more than 6,500 shopping outlets across the country.

    Keep in mind:

    • Annual fee payable to obtain the credit card is RM254.40.
    • Cashback is capped at maximum RM50 per card per month.

    Make the Most Out of Your Cashback Credit Cards

    Choosing a right cashback credit card requires a little analysis of your spending habits so that you can identify the category from which you can earn the maximum cashback. Any card that offers cashback on the categories you spent the most would be the right card for you. And if that card comes with extra benefits such as a low annual fee or no annual fee, it definitely is a better choice.

    For example, if you use your card mostly for petrol purchases, then the Maybank Visa Signature Card is best for you as it offers up to 5% cashback on all petrol purchases as well as no annual fee for the first year.

    Bankbazaar selects the best cashback cards based on the percentage of cashback offered, the various categories and cap on cashback. As these cards offer cashback on multiple categories, it will be easy for you to choose one based on your preferred category.

    If you are looking for best cashback cards in specific categories, then check out best petrol credit cards and best no annual fee credit cards

    Know More about Cashback Credit Cards

     

    1. How to select best cashback credit card?

     Selecting the best cashback card needs a little bit of research. This involves studying different cashback cards offered by various banks for their specifications and benefits. This is because, different cards offer different amounts of cashback on various categories. You have to choose the one which is best suitable for you. When comparing different cashback cards, keep in mind that they have varying spend requirements and come with varying limits on cashback. You should also consider the annual fee and other charges applied to the credit card which can affect its affordability.

    2. How to use a cashback card effectively and maximise rewards?

     While using a cashback credit card, you would want to make the most of it. Thus, you need to analyse your own spending habits before choosing a cashback card. Choosing a card that offers you better rewards in a category which you tend to spend more into, will obtain you maximum cash rebates. For example, if your monthly expenditure is more on petrol than any other categories, you should ideally go for a cashback card that offers more benefits on petrol/fuel purchases. Moreover, to use your card more effectively, you should also consider benefits offered on other categories followed by your most-preferred category, while choosing it.

    3. How do you redeem cashback rewards?

     Banks offer cashback rewards mainly in percentages according to the amount of purchases that are made through a credit card. These cashback rewards can be later redeemed for gift coupons, charitable donations, or you can also get them credited directly into your bank account in the form of cash money. Different banks give you different options.

    Cashback rewards can be redeemed in following ways:

    • You can obtain your earned cashback rewards directly into your bank account in the form of cash money. This is the most common form of cashback offered.
    • Some merchants may give you a gift coupon/card worth your cashback earned on your card.
    • Your cashback rewards earned via online shopping may also go to your shopping wallet for that dealer/site.
    • You can also earn cashback reward points that you can later convert into cash.
    • A bank may also provide you an option of donating your earned cashback to a charitable organisation.

    4. What are cashback cards and how do they work?

     A cashback credit card offers you cashback on your transactions or purchases that you make using that particular card.  

    How do cashback credit cards work:

    • Every time you make a purchase or transaction using a cashback credit card, you earn a percentage of your expenditure back in the form of cashback. Percentages of cashback may vary from bank to bank and they can also be different for different credit cards of the same bank.
    • You can earn cashback on your credit card on daily, monthly, and on annual basis.

    5. What are common cashback categories?

     Banks provide cashback for transactions and purchases on various categories such as, shopping, groceries, petrol, and other retail purchases. However, the percentage of cashback offered on these categories may differ from bank to bank and card to card. A credit card may offer more cashback on any one particular category compared to other types (e.g. Public Bank Petron Visa Gold card). This is why choosing a right cashback credit card according to your expenses is essential to maximise the benefit it offers.

    Even though petrol, shopping, and groceries are top cashback categories, other retail purchases may also be applicable for offering a percentage of cashback rewards.

    Government related purchases and expenses are often excluded from cashback reward programmes.

    6. What types of rewards do people prefer?

     When it comes to earning rewards on cashback cards, cashback earned directly in the form of cash money is the most widely preferred option. For many cardholders, earning rewards in the form of cash gives them more flexibility. they can use the cash earned to offset the annual fee of the card or even use it to reduce their monthly outstanding balance, allowing for greater savings.

    7. How to compare cashback credit cards?

     You must compare cashback cards on the amount/percentage of cashback offered on various categories, both nationally and overseas. When comparing these cards, make sure to not just look at the percentage of cashback offered but the spend required to earn that and the cap on the cashback offered as well. You would then also need to compare the annual fees of the card and other benefits and features the card has to offer which suit your needs and expenses better.

    8. Is cashback credit card rewards taxable?

     Cashback rewards are considered as discount obtained on your purchases and not as your income. Thus, in many countries, cashback rewards earned on a credit card are not considered as taxable. This is in case of most of the credit card providers/banks. However, it is advised to check your credit card agreement to know if your cashback rewards are exempted from tax or not.

     

    Looking for More

    Pick Up the Other Best Credit Card Category You May Like

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.