Here Are 5 Credit Cards That Are Known For Their Awesome Cashback Benefits
Spend and save on groceries, petrol, online shopping, and more!
Published for COMPARE HERO MY, 20 Jun 2018, 10:43 AM
Credit cards can sound intimidating at first, but they are actually excellent financial tools if you use them responsibly
There are lots of advantages to using credit cards. As long as you don't overspend and rack up interest charges at the end of the month, you can receive big financial benefits.
These benefits include the convenience of not having to carry large amounts of cash around, or having to look for an ATM every time you need to make a purchase, as well as high ticket reward programmes such as getting frequent flier miles.
But one of the best, most easily attainable, and instant perks of using a credit card is receiving cashback rewards.
What is a cashback reward anyway?
Cashback rewards return a percentage of the money you've spent with your credit card. It's as simple as that!
For example, a credit card may offer 10% cashback on groceries when you use the card. So if you charge RM100 worth of groceries to the credit card, you'll receive RM10 back. You can't get perks like that when you shop with cash :)
With so many credit cards on the market, it can be difficult to figure out which one is the best fit for you
1. For up to 15% cashback on autobilling, online shopping, and petrol - Standard Chartered JustOne Platinum
This cashback card offers tiered cashback rates. That means you don't have to spend a minimum amount to start receiving cashback rewards!
Using your card for autobilling, online shopping, and petrol purchases, will give you up to 15% cashback (which is huge). Meanwhile, if you spend on other categories such as groceries, dining, and pharmacy, you receive 0.2% cashback.
2. For the highest cashback for May and August - Maybank FC Barcelona Visa Signature
If you're a fan of the Spanish La Liga, this is the card for you (and even if you're not, this credit card still has pretty awesome benefits.)
The Maybank FC Barcelona Visa Signature offers 2% cashback all year round on all purchases, with a cap of RM50 per month, and 10% discounts on all FC Barcelona merchandise.
What's special about this card is that you can get 10% cashback for all purchases during the month of May (the end of football season) and August (the start of football season), with a cap of RM100 during those specific months! That's a lot.
3. For 10% cashback on groceries, dining, petrol, and Grab - Citi Cash Back Card
This Citibank credit card offers up to 10% cashback for dining, groceries, petrol, and Grab rides - making it great for everyday essentials. If you spend on other categories, you'll still receive 0.2% cashback rewards. The cashback is capped at RM40 per month and you need to spend a minimum of RM1,000 and above to be eligible for the rewards.
The awesome thing about Citibank is their Citibank World Privileges. This gives you discounts and privileges at over 24,000 hotels, restaurants, boutiques, retail outlets, and more all over the world!
4. For the unlimited cashback across all categories - Alliance You:nique
If you don't like being limited to certain categories, the Alliance You:nique offers cashback on all your spending, which is pretty cool. You can get up to 3% cashback, with a maximum of RM50 per month, as long as you spend between RM2,001 - RM3,000 a month.
On top of that, you're allowed to personalise the card. That means you can choose the image printed on your credit card. Your favourite selfie, a family pic, your cat, Tom Hiddleston as Loki... The sky's the limit!
5. For cashback on groceries - HSBC Amanah MPower Visa Platinum Credit Card-i
The nice thing about this credit card is that you can enjoy cashback on groceries from many different major stores. These include Giant, Tesco, Mydin, and AEON Big. The cashback rate is pretty high too at 8% with a monthly cap of RM50.
On top of groceries, you'll also receive 8% cashback when you pump petrol. Other local retail purchases and dining will give you 0.2% cashback.
So which credit card really has the best cashback rewards for you? Ultimately it depends on your lifestyle and spending habits.
Do you need help figuring out the best credit card for your needs?
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