How we Malaysians pick our plastic

Different folks choose their credit cards for different reasons. To fulfil different needs. Being the curious kind that we are, the RinggitPlus team recently ran an email survey among our readers to find out more about this. Here’s the lowdown.

Different folks choose their credit cards for different reasons. To fulfil different needs. Being the curious kind that we are, the RinggitPlus team recently ran an email survey among our readers to find out more about this. Here’s the lowdown.

What do the results mean?

Well, for starters, cashback is king! With 28% of all our respondents naming it as a major pull factor, it’s clear that credit cards that provide great cashback deals will always be crowd favourites. That’s probably why we’re seeing new credit cards with massive cashback rebates hitting the market all the time.

Reward points and airmiles come in a very close second at 25%. We reckon that this is because their benefits are not felt as immediately as cashback rebates. You’re going to have to wait patiently for the points and airmiles to stack up before you can take advantage of them, versus the immediate gratification of getting something back at the end of every month.

Also, interest rate and annual fee are the third and fourth most popular factors respectively when selecting a credit card. It looks like Malaysians don’t mind paying higher annual fees, so long as they enjoy competitive interest rates that will help them save more in the long run.

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