When it comes to choosing the best credit card in Malaysia, several factors should be considered.

We will explore different credit cards, their features, and weigh the pros and cons to help you make an informed decision.

In this comprehensive guide, we will focus on credit cards that offer cashback rewards with zero annual fees, making it easier for you to save money on your daily expenses.

1. Criteria for the Best Cashback Credit Card

When it comes to choosing a cashback credit card in Malaysia, several factors need to be considered. We will base our evaluation on the following criteria:

Cashback Emphasis

• Our primary focus is on cashback rewards, as they provide a direct and tangible benefit to cardholders.
• We prefer cashback over point-based reward systems.

Zero Annual Fee

• Avoiding annual fees is a key consideration, as it can help you save money in the long run.
• However, there may be exceptions when the rewards outweigh the annual fee.

Minimum Income Requirement

• The minimum monthly income needed to qualify for the credit card.

2. Pros and Cons of Cashback Credit Cards

Pros

• Cash Savings: Cashback credit cards offer real savings on your spending, which can add up over time.
• No Annual Fees: Many cashback cards come with no annual fees, making them cost-effective.
• Flexible Rewards: Cashback can be used for any purpose, providing flexibility in how you use your rewards.
• Suitable for Everyday Spending: Cashback cards are ideal for daily expenses such as groceries, dining, and fuel.

Cons

• Minimum Spend Requirements: Some cards may require a minimum monthly spend to unlock the cashback benefits.
• Category Restrictions: Cashback cards may have specific spending categories that offer rewards, limiting their versatility.
• Variable Rates: Cashback rates may vary depending on the spending category and the amount spent.

3. Best Credit Cards in Malaysia

RHB World Mastercard Credit Card

• Description: Offers 6% cashback on local travel, petrol, and dining with a minimum monthly income requirement.
• Pros: High cashback rate.
• Cons: Requires a minimum income, and the cashback is capped.

Maybank 2 Cards Premier

• Description: Offers various cashback rates, including 5% on weekends, and is known for online shopping.
• Pros: Versatile cashback options.
• Cons: Weekend restrictions.

Affin Duo Visa

• Description: Provides 3% cashback on online spending, e-wallet reloads, and auto-billings.
• Pros: No minimum spend requirement.
• Cons: Lower cashback rate for some categories.

UOB One Visa Platinum

• Description: Offers up to 10% cashback on petrol, groceries, dining, and Grab.
• Pros: High cashback potential.
• Cons: Requires a minimum income of RM 4,000.

Maybank Islamic Ikhwan AMEX Platinum Card

• Description: Gives 8% cashback for online shopping, with a minimum monthly income requirement.
• Pros: Excellent cashback rate for online shopping.
• Cons: Limited acceptance due to being an American Express card.

Maybank Grab MasterCard

• Description: Earns Grab Reward Points for Grab services, offering cashback in the form of points.
• Pros: Ideal for frequent Grab users.
• Cons: Rewards in Grab points, not cash.

Final Tips

Selecting the best cashback credit card in Malaysia depends on your spending habits and income level.

Evaluate the pros and cons of each card to determine which one aligns with your financial goals. Keep in mind that the right credit card can help you save money and maximize your benefits.

Make an informed choice based on your preferences and priorities.