When it comes to choosing a credit card in Malaysia, it’s important to note if it offers cashback rewards. Cashback credit cards return a percentage of the money spent on purchases back to the cardholder, making them an attractive choice for those looking to maximize their spending. With so many options available, finding the best cashback credit cards in Malaysia can be overwhelming. However, certain cards stand out for their generous rewards and other perks. Read on as we explore some of the top cashback credit cards in Malaysia that are best for consumers looking to earn some savings.
Are Cashback Cards Worth It?
If you are getting your first credit card, know that a cashback card is rewarding as it can help you save money by giving you back a portion of your spending when you use it to make purchases. From buying groceries to filling up petrol, the more you use your cashback credit card to pay instead of cash, the more you will save in the long run. However, do make sure you pay off the balance on time every month to avoid incurring penalty charges that could negate your cashback earnings!
9 Best Cashback Credit Cards To Apply In Malaysia
If you’re looking for a credit card that offers the best cashback rates in Malaysia, look no further than these options.
1. Shopee Visa Platinum Credit Card
Love shopping on Shopee? Then getting the Shopee Visa Platinum credit card is a no-brainer. You can earn up to 5X Shopee Coins cashback when you use it on your daily spending, and yes, that includes dining, entertainment, and contactless payments. The fast-accumulating Shopee Coins that will be credited into your Shopee account monthly can be used to bring down the price of a variety of products when you shop on Shopee or ordering food on ShopeeFood.
| Annual fee | Free |
| Eligibility | Malaysians and expatriates aged 21 – 65 years old with minimum annual income of RM24,000 |
| Welcome Offer | 5,000 Shopee Coins (minimum spend of RM300 on purchases in the first two months) |
| Mobile Wallet Compatibility | Apple Pay, Samsung Pay, Google Pay |
2. Standard Chartered Simply Cash Credit Card
If you’re looking for a card that offers one of the highest cashback rates, look no further than the Standard Chartered Simply Cash credit card. It provides up to 15% cashback on petrol, selected eWallets, dining, and grocery purchases. On top of that, cardholders also enjoy exclusive promotions, deals, and discounts at over 130 vendors.
| Annual fee | RM250 (free for first year) |
| Eligibility | Malaysians aged 21 – 65 years old with minimum annual income of RM36,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | Apple Pay, Samsung Pay, Google Pay |
3. RHB Cash Back Credit Card
This RHB Cash Back credit card lets you earn cashback on daily essential spending like petrol, groceries, and utility bills. Among the many vendors that you can earn cashback from include all petrol stations, Aeon Supermarket, Jaya Grocer, McDonald’s, and KFC. It is a good all-rounder credit card to have in your wallet.
| Annual fee | RM70 (free for first year) |
| Eligibility | Malaysians aged 21 or older with minimum annual income of RM24,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | Apple Pay, Google Pay |
4. UOB One Card
Earn up to 10% cashback with the UOB ONE Card when you spend on petrol (including Setel CardTerus), groceries, dining, and Grab services including Grab rides and GrabFood. The card comes in two versions, the standard UOB One Card and UOB Platinum Card, the latter which offers the opportunity to earn more cash rebates.
| Annual fee | ONE Card (RM120) ONE Platinum Card (RM195) |
| Eligibility | Malaysians aged 21 or older with minimum annual income of RM24,000 (ONE Card) or RM48,000 (ONE Platinum Card) |
| Welcome Offer | RM200 cashback & 3-year annual fee waiver |
| Mobile Wallet Compatibility | No |
5. Aeon Platinum Visa Card/MasterCard
If you do your shopping or grocery rounds regularly at AEON stores or AEON BiG Hypermarkets, this is the card most suitable for you. It offers as high as 10% cashback when you shop at these locations on the 20th and 28th every month, plus 2% cashback on online spending, Not only that, you also get to earn AEON points in every transaction that can be converted to cash value for further savings.
| Annual fee | RM200 (free for first year) |
| Eligibility | Malaysians aged 21 or older with minimum annual income of RM60,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | No |
6. Hong Leong Wise Credit Card
If you love online shopping or you have recurring spending on services such as Foodpanda, Netflix, and Spotify, the Hong Leong Wise is one of the best cashback credit cards in Malaysia for you. You can enjoy 8% cashback on transactions performed on weekends (1% on weekdays) not only on the services mentioned above, but also on the essentials such as groceries and petrol if your monthly spending is above RM500.
| Annual fee | RM98 |
| Eligibility | Aged 21 to 65 with minimum annual income of RM24,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | No |
7. RHB Shell Visa Credit Card-i
The RHB Shell Visa Credit Card-i will be ideal for those who regularly fill up their vehicles at Shell petrol stations as they can get as much as 12% cashback on their spending. Not only that, cashback is also offered for online spending, e-wallet top-up, groceries, and utility bills from the likes of TNB, Maxis, Celcom, and Astro.
| Annual fee | RM195 (free for first year) |
| Eligibility | 21 years old and above with minimum annual income of RM24,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | Apple Pay, Google Pay |
8. HSBC Amanah MPower Platinum Credit Card-i
Like all the other cashback credit cards, you get a decent cashback rate (which is 8% in this case) when you spend more than RM2,000 a month on the essentials with the HSBC Amanah MPower Platinum credit card. If you do not hit that amount, you still get to enjoy 1% cashback on petrol, groceries, and e-wallet transactions and 0.2% on all other local and overseas retail spending. For a limited time, you can enjoy an e-voucher amounting to RM500 as a welcome offer.
| Annual fee | RM240 (waived when you swipe your card once a month for 12 consecutive months and meet the annual spending of RM2,000) |
| Eligibility | 21 years and above old with a minimum annual income of RM 36,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | Apple Pay, Samsung Pay, Google Pay |
9. Maybank Visa Signature
Most cashback credit cards have spending tiers on how much cashback you can earn. If you want one that does not impose such a tier system, the Maybank Visa Signature might be the one you’re looking for. Whatever amount you spend, you can enjoy 5% cashback on petrol and groceries daily.
| Annual fee | RM550 (free for first year) |
| Eligibility | Annual income between RM70,000 to RM100,000 |
| Welcome Offer | – |
| Mobile Wallet Compatibility | Apple Pay, Samsung Pay, Google Pay |
Compare And Pick The Cashback Credit Card In Malaysia That Works Best For You
Choosing the best cashback credit cards in Malaysia requires careful consideration of individual spending habits and lifestyle needs. With plenty of options available in the market, it’s important to weigh up the benefits, fees, and rewards offered by each card before making a decision. Ultimately, the best cashback credit card for you is one that maximizes your savings and fits your spending patterns.
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