(Picture courtesy of of scottchan at FreeDigitalPhotos.net)
E-commerce is becoming the way for many to do business. The convenience is unsurpassed and the cost savings afforded to sellers through lower overheads helps to drive prices lower.
You can shop online with any credit card but what about a little enticement? Some credit cards are now offering incentives to encourage you to keep on clicking.
For internet shopping junkies
If internet shopping is the way you get everything from hotel stays to new clothes; you would want to get a card that rewards you for doing the things you love. The UOB VOX card gives an impressive 5% cash rebate for online purchases but this is capped at RM50 per month. The Hong Leong Mach credit card also gives cashback for online spends if the category is one of your chosen (the card’s cashback works on selected categories which cardholders are allowed to customise). However, the rate is 1% for online purchases and the cap for all cashback receivable is RM50 per month as well. The Mach card offers cashback in more spending while the UOB Vox is focused on online spending.
For the higher income bracket, the RHB Visa Signature offers 1% uncapped cashback for online spending. Those who do virtually all their shopping online will benefit from the unlimited cashback.
The RHB EVO also rewards online shoppers with double reward points for every ringgit spent on e-commerce transactions and bill payments made through the internet.
For the internet savvy traveller
If you’re the frequent traveller who prefers to book tickets and hotels online; choose a travel card that not only gives you travel benefits but also a card that understands your travel booking style. The CIMB Enrich Platinum and Gold Mastercard cards are tied-in with MAS. Aside from earning points through conventional spending methods you can also earn extra points by booking flight tickets online. Normally you would earn 1.5 Enrich miles for every RM6 spent on retail transactions but when you book your air tickets through MAS online booking, you’ll earn one Enrich point for each ringgit you spend.
Similar to the CIMB Enrich cards, the Maybank SIA Krisflyer allows you to earn extra airmiles. Every RM2 spent on normal purchases earns you one Krisflyer mile, however if you book for your tickets online through SIA you will receive 2 Krisflyer miles for every RM2 spent.
For everything else E
E-commerce benefits can be sporadic and dependant on the card issuer’s agreement with specific online merchants. Online shopping giants Zalora for instance offer rebates to specific cardholders for a limited period: Currently, all RHB credit cards get a flat 15% discount on shopping or an RM20 voucher for purchases of RM100; CIMB cardholders receive 20% storewide or 25% for purchases exceeding RM150; Standard Chartered credit cards receive 15% storewide as well. As the biggest online fashion destination; it’s a good rebate if you’re a fashionista (or one in the making).
There are then some issuers who encourage you to use their online services because it reduces cost for them, which in turn, benefits you. All HSBC credit cards (except those under Islamic Banking) encourage reward point redemption through their online portal as opposed to calling or heading to a branch. Using the online method will save you 500 points off the redemption amount on selected items.
Depending on the kind of online shopper you are – you may want to consider a card which rewards you for doing what you love.