On an average, Malaysians spend 31.2% of their disposable income on food and food-related expenses away from home. Now imagine getting rewarded with points or cashback every time you spend on food. That’s what you get with grocery credit cards. Not only can you make the most of your monthly grocery expenses but you also get the best value for every swipe you make.
Depending on the card, you’ll be privy to an array of benefits. To make it easier, we’ve compared a couple of grocery cards below.
|Card Name||Reward Points/Cashback Earned||Benefits of the Card||Annual Fees*|
|Alliance Bank Platinum Credit Card||2x Timeless Bonus Points on grocery expenses||
||Principal card: RM438 Supplementary card: Free for life|
|Citi Cash Back Platinum Credit Card||Up to 10% cashback on groceries||
||Principal card: RM195 Supplementary card: RM100|
|AEON BiG Visa Gold Card||5% cashback at AEON BiG Stores||
||Principal card: RM95 Supplementary card: RM60 First year annual fees waived on a minimum of 12 transactions per year|
|HSBC Amanah MPower Visa Platinum Credit Card-i||Up to 8% cashback on grocery expenses||
||Principal card: RM90 Supplementary card: RM45|
|Standard Chartered Cashback Platinum Mastercard||Up to 5% cashback on monthly expenses||-||Principal card: RM175 Supplementary card: RM100 Annual fee waiver for the first year Subsequent years waiver available on a minimum spend of RM20,000 per annum|
|CIMB Tesco Platinum Credit Card||Up to 5% cash rebates on all Tesco expenses||1x extra Tesco Clubcard Point for every RM1 spent at Tesco||Lifetime annual fee waiver for principal and supplementary cards|
|Maybank American Express Gold Credit Card||5x Membership Rewards points for every RM1 spent on groceries||
||Lifetime annual fee waiver for principal and supplementary cards|
* Sales and Services Tax (SST) of RM25 will be imposed on new cards and upon card renewal.
For starters, you get either cashback or reward points on all your grocery related transactions. Some cards reward you with points or cash rebates on other categories like petrol, dining, and retail expenses as well.
For instance, the Alliance Bank Platinum Credit Card gives you points for grocery expenses as well as petrol, utility, overseas, and local retail transactions. The points you earn can also be redeemed for air miles, which is an added benefit for a grocery card.
For a better understanding of how this card works, we’ve broken down the details in the table below:
|Expense Category||Points||Amount Spent Monthly||Points Earned|
|Total Points Earned||3,250|
If you spend a minimum of RM1,500 each month, you can collect 3,250 points. This also changes from card to card. With the Alliance Bank Platinum Credit Card, you can also redeem your points for air miles. For example, 3,000 points can be converted into 1,000 AirAsia BIG Points.
Depending on the bank that has issued the grocery card, you will either get reward points or cashback on your purchases.
With reward points, you earn up to 5x Reward Points for every RM1 you spend on groceries. Some grocery cards will also give you points on other retail transactions, even a few co-branded grocery credit cards.
As for the cashback, you can get up to 10% cashback on your grocery expenses. However, to earn this percentage of rebates, you will need to spend a certain amount on groceries on your card. Some cards will give you rebates on petrol, online, and overseas expenses as well.
To begin with, you accrue reward points or cash rebates every time you swipe this card for grocery related transactions. Depending on the type of credit card you have, you can also get points or cashback for other expenses. This means additional value on your expenditures.
You can also access the tons of deals and discounts offered by your card. Check your bank’s website for the latest promotions and offers you can take advantage of.
It’s always good to start with analysing your spending pattern and lifestyle requirements. If you spend more than RM600 a month on groceries, look for a card with the highest cashback or reward points on your expenses.
Co-branded credit cards are also a good option, if you shop at that particular store frequently. Let’s say you buy all your monthly groceries only from Tesco or AEON. In this case, you can go ahead and pick either the CIMB Tesco Platinum Credit Card or the AEON BiG Visa Gold Card.
Another factor that helps with getting the most value is no or low annual fees. This removes the hassle of paying more to own the card.
And finally, eligibility. It’s crucial to know if you’re eligible for any credit card. So, get that checked and then apply for your desired card.
Every time you have to buy groceries, swipe your credit card. This helps with collecting reward points or getting cash rebates on your expenses. You can also use your grocery card for other transactions, if your card offers points or cashback on those categories.
Lost Card/Overseas Assistance
When you lose your credit card, it’s crucial to contact the bank’s customer care hotline immediately. Informing the bank prevents any fraudulent charges on your card. Once the bank is aware your card is lock, they will block it and send you a replacement.
Most banks also offer assistance for those who travel overseas. For instance, if you’re facing issues while paying for any transaction, you can contact customer care for immediate help. If you have a premier credit card, there’s a dedicated hotline for all your travel-related queries.
Credit cards come with an eligibility criteria, whether it’s the age or the income requirement. For example, principal cardholders have to be 21 years and above, and supplementary cardholders have to be 18 years and above.
The income requirement also changes for each credit card. The minimum annual income requirement for any card in Malaysia is RM24,000. Let’s take a look at the income requirement for some of the grocery cards.
|Card Name||Minimum Annual Income Requirement|
|Card Name||Minimum Annual Income Requirement|
|Alliance Bank Platinum Credit Card||RM60,000|
|Citi Cash Back Platinum Credit Card||RM60,000|
|AEON BiG Visa Gold Card||RM36,000|
|HSBC Amanah MPower Visa Platinum Credit Card-i||RM36,000|
|Standard Chartered Cashback Platinum Mastercard||RM24,000|
|CIMB Tesco Platinum Credit Card||RM24,000|
|Maybank American Express Gold Credit Card||RM30,000|
|Type of Applicant||Documents Required|
Whenever you have to buy groceries, use your credit card for those transactions. This will ensure you accumulate points or cash rebates with ease. Besides this, you can also take advantage of the promotions and deals you get access to. However, it's important to keep your budget in mind when you're spending with your card.
Q. Other than points and cash rebates, what other benefits will I get with a grocery credit card ?
A. This depends on the type of credit card you have. For instance, the CIMB Tesco Platinum Credit Card only gives you rebates and points on purchases made at Tesco. However, some grocery cards offer points on other expense categories and annual fee waivers as well. The waiver can either be for a year or for life.
Q. Will the reward points on my grocery card expire?
A. This depends on the card you have. While some cards have a validity period for the points, some cards don't. For example, the Alliance Bank Platinum Credit Card offers evergreen rewards points. This means you can redeem them whenever you want.
Q. Can I buy only groceries on a grocery credit card?
A. No. You can shop for an array of products and items with your grocery credit card. Some cards also offer points or cash rebates on other expense categories. It's best to do your research and see which categories get you points or rebates. You can then swipe your card for those transactions for added value.
Q. What's the difference between a regular grocery credit card and a co-branded grocery credit card?
A. The key difference is that a co-branded grocery card gives you points or rebates only when you purchase items from that particular outlet. You don't get these benefits if you shop for groceries from any other outlet. However, some co-branded cards also offer these benefits on other expense categories.
Q. Is there a capping amount for the cash rebates on grocery transactions?
A. Yes. However, the amount depends on the card you have. The capping on rebates and the maximum amount you can spend in a single month varies from card to card.
Q. What documents are required to apply for a grocery credit card?
A. The basic documents required are:
A. Yes. Some banks allow foreigners and expats to apply for a card.
Q. What documents should foreigners submit for a card application?
A. The basic documents required from foreigners or expats are:
Q. Can I earn reward points or cashback if I use my card for other retail purchases?
A. You can earn points or cashback on other retail spending if your card allows that usage. You can check the product disclosure sheet of your card to find out other categories where you can earn points or cashback.
However, since grocery credit cards are tailored predominantly for grocery expenses, the extent of cashback or reward points earned on other retail expenses charged to the card wouldn’t be as high when compared to what you would earn on grocery expenses.
A. You would be charged a late payment fee if you do not pay your bills on time. Late payments will also affect your credit score badly. You may lose out on your reward points or cashback. Pay on time to continue to use your card.