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 1x reward points. It may not seem as profitable as the above card but this card isn’t so bad considering you may earn 5,000 bonus reward points when you spend a minimum of RM1,500 monthly.
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.
