Grocery cards allow you to earn either reward points or cashback on your grocery expenses. You can accumulate reward points and redeem them for a product of your choice. You can use the cashback to save or spend on a category according to your preference.
Compare Grocery Credit Cards In Malaysia
|Card Name||Benefits||Annual Fee||Interest Rates||Cap on Cashback (per month)||Minimum Spend Criteria (per month)|
|HSBC Amanah MPower Platinum Credit Card-i||Up to 8% cashback on grocery expenses||RM254.40||15 - 18% p.a.||RM50||RM2,000|
|Citi Cash Back Platinum Card||Up to 10% cashback on grocery expenses||RM106.00||15 - 18% p.a.||RM15||Cashback earned on grocery expenses up to RM1,500|
|CIMB Cash Rebate Platinum MasterCard||Up to 5% cash rebate on grocery expenses||Waived for life||15 - 18% p.a.||RM30||RM3,000|
|Maybank Visa Signature Card||Up to 5% cashback on grocery expenses||Waived for the first year RM550 from second year onwards Waived off for subsequent years for a minimum spend of RM30,000 per year||15 - 18% p.a.||RM88||For each grocery transaction|
|Hong Leong Wise Platinum Visa Card||Up to 10% cashback on grocery expenses||RM318.00||15 - 18% p.a.||RM100||RM2,000|
|Public Bank Visa Signature Credit Card||Up to 6% cashback on grocery expenses||Waived off for first year Waived off for subsequent years for a minimum of 12 swipes per year RM411.28||15 - 18% p.a.||RM38||-|
|Alliance Bank You:nique Card||Up to 3% cash rebates on grocery expenses||Waived off for the first 3 years Waived off for subsequent years for a minimum spend of RM5,000 or 12 card swipes per year||9 - 18% p.a.||Unlimited||RM2,000 to RM3,000|
|Citi Rewards Card||5x reward points for every RM1 spent on groceries at selected supermarkets||RM636.00||15 - 18% p.a.||-||RM3,000|
Features And Benefits Of Grocery Credit Cards:
- Earn reward points for every RM1 spent on grocery expenses.
- Earn cashback for grocery purchases on your card.
- Get discounts at multiple supermarkets across Malaysia.
- Save money through cashback cards.
- Redeem reward points for gift vouchers, travel packages, gadgets or Air Miles.
Why Choose A Grocery Credit Card?
These cards are ideal if:
- You spend a lot every month on grocery expenses.
- You use your card only for buying groceries.
If you spend a lot each month on groceries, these cards would help you to save money through cashback. You can use that money for more grocery shopping or other expenses or offsetting your credit card bills.
If you use your card only for grocery shopping, then these cards would allow you to earn points on your purchases which you can redeem for a product you prefer.
How Do Grocery Credit Cards Work?
Cashback: As you swipe your card for grocery purchases, all transactions would be summed together every month. Since cashback would be a percentage of your total monthly grocery expenses, cashback on your card would be based on the total amount you spent on groceries for that particular month.
Usually the cashback would be calculated at the end of the billing cycle and credited to your card or account in the following month.
Reward Points: You would earn points on every ringgit you spend on grocery expenses. There would be a minimum margin of points you need to collect before you can redeem them. The margin would differ from card to card.
Once you accumulate the minimum required points, you can redeem them for rewards offered by your card. You can find a list of rewards in the rewards catalogue section on the card website.
How To Choose The Best Grocery Credit Card?
An ideal card would suit your spending preference and frequency. Some cards have no annual fee whereas some waive off the annual fee if you swipe your card for a minimum amount each year. Most cards also come with a minimum income requirement.
So based on your income, budget and financial history, compare quotes for different cards online. Choose a card that offers you the best features tailored to your needs.
- Minimum age for primary cardholder is 21 years.
- Minimum age for supplementary cardholder is 18 years.
How Do I Apply For A Grocery Credit Card?
There are different ways to apply for a card.
- Complete and submit an online application form along with relevant documents to apply for a card.
- Visit your nearest branch with mandatory documents to apply for a card.
- Call the customer service line of your chosen bank for assistance on applying for a card.
- Complete and submit an online enquiry form where a bank representative would contact you to help with the application process.
Q. What documents are required to apply for a grocery credit card?
A. The basic documents required are:
- Proof of Identity: Copy of MyKad or NRIC
- Proof of Income: Latest salary slips or latest bank statements
- Proof of Tax Returns: EPF statement, Form EA, Form B or Form BE with tax receipts.
- Other documents would differ based on your source of income and terms imposed by respective banks.
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:
- Copy of current and valid Passport
- Copy of current and valid work permit
- Latest salary slips
- Confirmation letter from the employer
- Any other document required by the bank
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.