What Is A Rewards Credit Card?
It is a card that gives you reward points in certain categories based on the amount you spend. Once accumulated, the reward points can then be used to redeem special items or gifts as offered by the bank.
Is it worth getting a credit card with reward points?
It depends on your preference and how would you like to use a rewards credit card daily. Essentially, two factors make up the best reward credit cards.
The first factor is the amount of reward points and the second factor is which card gives you the best reward redemptions.
Therefore, the key to looking for the best rewards credit card is getting one that offers both great redemption items and allows you to collect points quickly and easily.
How to choose the best credit card for reward points collection?
The best way is to choose one that offers a higher points collection rate or points multipliers.
Let’s say that for every RM1 you spend using your rewards credit card, you collect 1x reward points. That’s alright but wouldn’t it be better if you could collect more points for every Ringgit you spend?
For example, many reward credit cards give you more points for overseas spending compared to local spending. Some reward cards have point multipliers for different kinds of expenditure.
Case in point, the HSBC Visa Signature lets you earn 8x reward points on overseas shopping using foreign currencies, whereas you'll get 5x reward points when you shop in-store at participating local merchants or online shopping using Ringgit Malaysia.
Which rewards credit card should I get?
While there is a myriad of rewards credit cards in the market, it's important to choose one that can benefit you the most in terms of your preference, lifestyle suitability and your income.
Typically, a rewards credit card with the highest reward points is often the popular choice for most people.
However, don't you think it's even better if you maximise a rewards credit card on the type of expenses you frequently come back to such as petrol fueling or grocery shopping?
By using a rewards credit card on selected spending categories, the higher you spend, the more reward points you're going to get.
When accumulated to a certain amount, you can redeem the points for air miles, shopping voucher(s), gadget(s), household items and so much more!
Now, which rewards credit card should you get? We compiled a list of recommendations below based on several types of spending categories.
For petrol
Co-branded with Petronas, this credit card rewards you abundantly just by spending on petrol fueling at all Petronas stations. Spend during the weekdays, you’ll get 8x TreatsPoints on every RM1 spent. During weekends, you’ll get 5x TreatsPoints on every RM1 spent.
For grocery shopping
Shopping for groceries gets more rewarding with this HSBC Platinum credit card because, for every RM1 you spend at your favourite supermarket, you’ll get 5x reward points. From Monday to Sunday, no matter the time, get your shopping bags ready!
For each RM1 you spend on buying groceries at any local supermarket, you’ll get 5x reward points. What's more, if you fancy grocery shopping online, you can take advantage of it by spending a minimum of RM1,500 or more in each monthly billing cycle to earn an extra 5,000 bonus points!
This ladies-exclusive card rewards you with 5x UNIRinggit points on every RM1 spent on grocery shopping at the local supermarket or stores near you. Last-minute grocery shopping? No fret, just don’t forget your card!
For movies
For every swipe to purchase a movie ticket, you’ll get 10x reward points on every RM1 spent. This is especially rewarding for those movie buffs! No matter where you watch your movies, just don’t forget to bring your card and swipe away.
Specially made for GSC Cinema lovers, this co-branded credit card rewards you with 3x reward points on every RM1 spent on purchasing movie tickets. On top of that, you’ll also get exclusive discounts on drinks and foods via online purchases or at the counter.
Don’t know where to go on Friday nights? Why not take your Alliance Bank Visa Platinum card for a spin at your nearest movie theatre and catch on to the latest blockbuster? You’ll get 1x reward points for every RM1 spent on entertainment transactions. The more you swipe, the more rewarding it gets!
For online shopping
Shop online every 28th of the month (CIMB’s eDay) with this card, and you’ll get 12x CIMB Bonus Points on every RM1 spent. On normal days other than the eDay mentioned, you’ll get 3x CIMB Bonus Points.
Do some online shopping therapy using this card and you can earn 8x Timeless Bonus Points (TBP) on every RM1 spent. What’s even better is that the reward points you’ve collected don’t have an expiration date. Redeem the points with some cool gifts whenever!
This card might be one of the best rewards credit cards for the online shopping category in the market. For every RM1 spent locally, you’ll get 5x rewards points, and if you shop online using foreign currencies, you’ll get 8x rewards points!
Compare and apply rewards credit cards online!
Simply compare the rewards credit cards that suit your preferences and apply online seamlessly with us. Just click on the 'Apply button' above and you’ll be taken to our WhatsApp chatbot. We’ll assist you thereafter.
Frequently Asked Questions About Rewards Credit Cards
Thinking of making your credit card work harder for you? Here’s a simple guide to help you understand especially if you're just starting out.
1. How do I earn reward points with my credit card?
Every time you swipe (or tap!) your card for eligible purchases, you earn points—usually 1 point for every RM1 spent. Some cards give bonus points when you spend on certain categories like online shopping, dining, petrol, or overseas. These are known as reward multipliers.
2. What’s a reward multiplier and why does it matter?
A reward multiplier boosts the number of points you earn per ringgit spent. For example, 5x points on online shopping means you earn 5 points for every RM1. It’s the fastest way to stack up points, so be sure to check which categories your card rewards most.
3. Do all types of spending earn points?
Not everything counts. Most cards don’t give points for transactions like cash advances, e-wallet reloads, government payments (LHDN, EPF), utilities, or insurance premiums. Always check your card’s T&Cs to avoid surprises.
4. Do reward points expire?
Yes, usually within 1 to 3 years. Some cards offer "evergreen points" that never expire, but that’s more the exception than the rule. Use your bank app or statement to track your balance and expiry dates.
5. Where can I check my reward points balance?
You can view your points in your monthly statement, online banking, or your bank’s mobile app. Some apps also show what you can redeem, making it easier to plan ahead.
6. What can I use my points for?
Points can be redeemed for shopping vouchers, gadgets, bill rebates, or even air miles like Enrich, KrisFlyer, and AirAsia Points. If you love to travel, converting points to air miles often gives you the best value.
7. Can I use reward points to waive fees or charges?
Some banks let you use points to waive your annual fee or offset the RM25 government service tax. But you can’t use them to directly pay your credit card balance.
8. Can I transfer points to someone else or another card?
Points usually can’t be shared or moved between people. And if you cancel your card, any unused points will typically be forfeited. Some banks let you transfer points to partner airline programs, but not to other individuals.
9. How do I maximise my credit card reward points?
- Use high-multiplier cards: Focus on cards that reward your frequent spending categories (e.g. groceries, petrol).
- Track expiry dates: Don't let your points expire unused.
- Redeem wisely: Items like air miles or premium vouchers typically offer higher value per point.
- Look out for promos: Some banks offer bonus points during special campaigns or festive seasons.
10. Are reward points better than cashback?
It depends on your lifestyle.
- Reward points offer flexibility with a variety of redemption options (vouchers, miles, merchandise).
- Cashback offers instant value as a rebate on your statement. If you prefer simple savings, cashback may be more straightforward. But if you like travelling or exclusive gifts, rewards cards could give you more value in the long run
