Are you fed up with watching you grocery bills and petrol expenses rise faster than your salary? Do you need help beating back those never-ending living expenses? You’re in luck because the RinggitPlus team has picked out the best cash back credit cards to help you fight these battles. If you’re not 100% sure how cash back credit cards work then have a look at our introductory post, What is a Cash Back Credit Card?
Heavy Hitter Credit Card Cash Rebates
The Citibank Cash Back Platinum & UOB ONE Card offer a wide range of cash back rebates, including 5% on petrol, 2% on pharmacies, 2%, on groceries, 2% on mobile bills and 0.3% on everything else.
UOB also gives selected additional rebates such as 5% on GSC Cinemas and 2% on BHPetrol. Out of all these categories, the petrol cash back is capped at RM30 per month, groceries is capped at
RM60 for Citibank and RM30 for UOB, and mobile is capped at RM6 for UOB.
We know that all these different cash back rebates and caps for different categories can be pretty confusing, but if your monthly credit card spend is over RM3,000 then these cards will reward you. Taking the Citibank Cash Back Platinum as an example, even if you hit the limit for petrol and groceries, you would have earned RM90 and there is still room for further rebates on other categories.
Weekend Warrior Credit Card Cash Rebates
If you do most of your shopping on the weekends then The Maybankard 2 Gold Cards (you get one American Express and one MasterCard) is right for you. The American Express offers 5% cash back on all weekend retail spending with no restrictions on certain categories like petrol or groceries. The maximum total monthly cash back is a very fair RM50.
Another great weekend cash back card is the HSBC MPower Visa Platinum Credit Card-i. If your total monthly credit card bill is over RM1,501 then this card offers up to 8% cash back on petrol, groceries and dining spent on weekends. The regular cap for cash back is RM50 a month but HSBC rewards big spenders by increasing the maximum cash back to RM100 if your monthly credit card bill is over RM5,001.
Digital Diehard Credit Card Cash Rebates
If your daily routine revolves around Zalora and Groupon then the UOB VOX Card is the answer to all your prayers. UOB are offering 5% cash back for all on online purchases with a maximum of RM50. This card also gives up to 3% on retail purchases (but your previous statement balance must be RM8,000 and above to enjoy 3%).
Ol’ Faithful Credit Card Cash Rebates
The OCBC Titanium MasterCard is probably the best all-round cash back card here. This card has a RM50 maximum monthly rebate and 5% cash back on petrol, groceries, utilities and dining. While this might seem fairly standard, we like this card because there are no restrictions on which days you earn the cash back and there are no caps on specific categories. As long as your monthly total spending on petrol, groceries, utilities and dining hits RM1,000 (and let’s be honest, it isn’t hard to do!), then you will be rewarded with RM50 of cash back. Easy peasy.
The RinggitPlus Team’s Advice
If you’re a big spender the Citibank Cash Back Platinum & UOB ONE Card will suit you well, but if you tend to spend more on the weekends then look into the The Maybankard 2 Gold Cards and HSBC MPower Visa Platinum Credit Card-i.
If you can’t get through the week without a new Groupon deal then you have to checkout the UOB VOX Card.
Last but not least, if you want a straightforward and simple credit card which consistently delivers your RM50 monthly cash back then the OCBC Titanium MasterCard is the one for you.
Cartoon Source: The Punch