Lifestyle

The Best Cashback Credit Cards in Malaysia this 2017

We all spend money on a daily basis, so why not make your everyday purchases more rewarding with a cashback credit card? Here are the best cashback credit cards in Malaysia to help you save even when you’re spending.

 

This list of best cashback credit cards was compiled based on cashback credit cards that have high cashback rate along with high cashback cap.

 

Best Credit Cards For Fresh Grads in Malaysia

Credit Card Cashback Rate  Monthly Cashback Cap Minimum Spend Required Cashback Category Benefits and Promotion
Standard Chartered JustOne Platinum Mastercard Up to 15% RM85 none Autobill, online shopping and petrol RM7 per ticket for any movie via GSC website and mobile app.

1 for 1 hand roll and blue plate at Sakae Sushi

Hong Leong WISE Gold Card 10% RM100 Retail spending of RM 2,000 per month Choose from 2 spend categories of your choice Choose preferred spending category
UOB Lady’s Classic Mastercard 10%  

RM80

RM800 Weekend fashion purchases Exclusively for ladies only
Public Bank Visa Signature Credit Card 6%  

RM50

none Online shopping, groceries and dining 3x complimentary access to any Malaysian Plaza Premium Lounge
HSBC Amanah MPower Visa Platinum Credit Card-i 8%  

RM50

none Petrol and groceries High cashback for petrol and groceries spend
Alliance Bank You:nique 3% none none Petrol, groceries and specific merchants Rebate not restricted to any category

 

Standard Chartered JustOne Platinum Mastercard

This cashback card offers tiered cashback rates, so you don’t have to spend a minimum amount before you can enjoy receiving the cashback. You can also get cashback on all other spend that does not fall within the three major categories. The maximum cashback rate is 15% with this card, but this depends on the amount charged to the. Refer to the table below:

Retail Spend per Month Auto Bill Payments,
Online Purchases & Petrol
Other
Categories
Cashback Cap
Below RM 1,000 0.20% 0.20% RM 12
RM1,000 – RM1,499.99 5% 0.20% RM 12
RM1,500 – RM2,499.99 10% 0.20% RM 28
RM2,500 & above 15% 0.20% RM 85

 

 Let’s say you spend RM2,500 in a month on the categories below:

  • Autobill (RM200)
  • Online Purchases (RM160)
  • Petrol (RM140)
  • Other categories which include Groceries (RM300), Shopping (RM400), Dining (RM300), Pharmacy (RM100), Miscellaneous (RM900)

 

You will then be eligible to earn 15% cashback on each of the category and 0.2% cashback on the “other categories” spending.

Here is the total cashback you can get:

  • Autobill RM200 x 15% = RM30
  • Online Purchases RM160 x 15% = RM24
  • Petrol RM140 x 15% = RM21
  • Other categories RM2,000 x 0.2% = RM4

 

Total cashback: RM79

 

Another plus point of this card are the exclusive offers:

  • RM7 per ticket for any movie via Golden Screen Cinemas website and mobile app. Valid until 27th February 2018
  • 1 for 1 hand roll and blue plate at Sakae Sushi, valid until 30th June 2017

 

Requirements:

  • Minimum monthly income of RM2,000 (RM24,000 per annum)
  • Annual fee: RM 265 for principal cardholders and free for supplementary card holders

 

 

Hong Leong WISE Gold Card

If you want to decide what you get cashback on, this is the card for you. The Hong Leong WISE Gold Card allows you to choose the spending categories of your choice, so this card can suit your spending habits and that can help to maximize your cashback. The categories you can choose from are:

  • petrol
  • utilities
  • mobile
  • entertainment
  • travel
  • pharmacies
  • dining
  • groceries
  • book stores

 

If you want to make changes to the categories you have chosen to get cashback on, you will be charged RM10.60 for each change. To enjoy the 10% cashback the requirement is a minimum of 10 retails transactions monthly with minimum spend of RM50 per transaction. The cash back is capped at RM100 while the minimum spending required to receive maximum cash back is also reasonable, which is RM500.

 

Requirements:

  • Minimum monthly income of RM2,000 (RM24,000 per annum)
  • Annual fee: RM169.90 for principal cardholders and RM84.80 for supplementary card holders

 

Alliance Bank You:nique

If you don’t like your cashback to only be limited to certain categories, this is the card for you. This card offers unlimited cashback on your spending meaning you can enjoy more savings.

Cash Back Payout Table Cash Back Rate Monthly Spending Range
Tier 1 0.5% RM 0-1,000
Tier 2 1.5% RM 1,001-2,000
Tier 3 3% RM 2,001-3,000
Tier 4 0.3% Higher than RM 3,000

 

The cashback is tiered based, so you can get up to 3% if you spend between RM2,001 – RM3,000 monthly and charge it to the card. So if you spend RM3,000 monthly, you will get RM50 rebate. It is calculated according to the tiers, so you get RM5 for the first RM1,000 then  RM15 on the next RM1,000 and RM30 on the remaining RM1,000.

 

Aside from that, you can also personalize this card. Imagine having a card with a picture of your choice, even a picture of yourself or your loved ones. The annual fee is RM148, but it will be waived for the first 3 years. For the subsequent years, you’ll be able to get this amount waived if you spend RM5,000 annually or 12 swipes in a year.

 

Requirements:

  • Minimum monthly income requirement of RM2,000.
  • 21 years old for principal cardholder and at least 18 years old for supplementary cardholder.
  • Malaysian citizens only.

 

HSBC Amanah MPower Visa Platinum Credit Card-i

Here’s another cashback credit card to consider for cashback. You can enjoy cashback benefits for groceries shopping at participating stores like Giant, Tesco, Mydin and AEON Big and for petrol. The cashback rate is 8% but do take note that cashback is capped at RM50 per month.

 

To qualify for the 8% cash back you have to spend more than RM2,000 per month. If not, you will only get a cashback rate of 2% if your spending is below RM2,000. You will also get 0.2% cashback for local retail purchases.

 

Let’s say you spend RM2,200 on petrol, groceries and other spending. The calculation for the cashback you can get is:

Spend categories Amount Cashback Rate Amount of cashback received
Petrol RM 200 8% RM 16
Groceries RM 500 8% RM 40
Dining RM 300 0.2% RM0.60
Other purchases RM 1,200 0.2% RM2.40
Total cashback RM59

 

But remember, there is monthly cashback cap of RM50. So even though the total calculation for cashback above shows total cashback would be RM59, the cashback received will be RM50.

 

Requirements:

  • Minimum monthly income of RM3,000 (RM36,000 per annum)
  • Annual fee: RM254.40 for principal cardholders and RM for supplementary card holders (annual fee is waived with minimum of 12 swipes per year).

 

 UOB Lady’s Classic Mastercard

This card is especially for all you ladies out there! Shopping will be even more rewarding with the UOB Lady’s Classic MasterCard as you get 10% cash back for your weekend fashion purchases. However, take note that there is a minimum qualifying spending amount a month to get the 10% cash back which is RM300. While the maximum cashback you can get every month is RM30.

 

This card also comes in platinum or solitaire variety with added benefits, but that also means the annual fees are higher.

 

Requirements:

  • Exclusively for ladies only, aged 21 years old and above
  • Minimum monthly income of RM2,000 (RM24,000 per annum)

Annual fee: RM68 for principal cardholders

 

Public Bank Visa Signature Credit Card

This credit card offers 6% cashback rate for groceries, dining, online shopping as well as domestic and overseas transactions. The minimum spending required to receive the maximum cashback is RM1,000 and cashback is capped at RM50 per month. Aside from getting cashback, you also get to enjoy 3x complimentary access to any Malaysian Plaza Premium Lounge, valid until 31st December 2017 and subject to terms and conditions.

 

Requirements:

  • Minimum monthly income of RM8,333 (RM100,000 per annum)
  • Annual fee: RM411.28 for principal cardholders and RM212 for supplementary card holders. First year annual fee waived, subsequent years fee waived with minimum 12 swipes annually.

 

When deciding on which cashback credit card to get, you should first take into account what you usually spend the most money on. Whether it is groceries, petrol, bills or other categories. Then choose a cashback credit card which gives the highest amount of cashback for that spending category. Remember to also look at the minimum spending requirement and the monthly cashback cap.

 

This article first appeared on CompareHero’s The Best Cashback Credit Cards in Malaysia this 2017.

 

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