For years I have been presenting my annual Best Top 10 Credit Cards in Malaysia. However, more and more credit card issuers have been offering really good cash back credit cards in the last few years where we actually earn some serious cash back from our essential expenses.
Most of the cash back credit cards in the market do not offer any other benefits such as FREE airport lounge access or rewards points to redeem air tickets. But then again, cold hard cash in our hand is always better right, hahaha.
And the thing is, most of the best of the best cash back credit cards are entry level credit cards – i.e. minimum annual income requirement of RM30K.
So this year, I decided that I shall present a Mini Showdown purely to determine The Best Cash Back Credit Cards in Malaysia in order to assist all Malaysians to cope with the high cost of living – i.e. so that all Malaysians will hold the right credit cards and earn some cash back from our essential expenses instead of paying cash (or holding a useless credit card) and earn nothing.
Having said the above, if you are unable to save 10% of your monthly salary, I strongly advise you against signing up for a credit card because you will most likely end up spending more and therefore may end up in the shit hole of debt!!! IF you are in this situation, I strongly advise you to start saving and once you have made it a habit to save at least 10% of your income, then only go sign up for a credit card. To start off your savings journey, please click here to read my FREE Fixed Deposit tutorial 2018.
If you are new to my blog, I strongly recommend that you take my comprehensive FREE Credit Card Tutorial 2018 (click here now) where you will learn the basics of all you will ever need to know about owning a credit card. You may not absorb all that is presented to you in one go. Therefore, it is imperative that you read it again after a month and retake the tutorial again after 6 months- it’s FREE lah. This will ensure that all the information presented to you can be imprinted into your subconscious mind so that you will automatically practice spending within your means and also not be conned by scammers.
CARDS SELECTED FOR THE SHOWDOWN
Prior to me drafting this showdown, I made known in my post titled Cash Back Credit Card Showdown Methodology, the cards that I have selected to compete against each other for the position of Best Top 5 Cash Back Credit Card.
Basically the cards selected are those that I have reviewed in my Credit Card Tutorial 2018 and listed in my Cash Back Page:
- Maybank 2 Cards Gold/Platinum Review
- Public Bank Quantum Cards – MasterCard and Visa Review
- AMEX Gold Cash Back Credit Card Review 2018
- Maybank FC Barcelona Visa Signature Review 2018
- Maybank Petronas Gold and Platinum Visa Review 2018
- Maybank Ikhwan MasterCard Review 2018
- CIMB Bank Cash Rebate Platinum Review 2018
- Public Bank Visa Signature Review 2018
- AEON Big Cash Back Visa Review 2018
- Hong Leong Bank Essential Cash Back Credit Card Review 2018
- Hong Leong Bank Fortune Cash Back Visa Review 2018
- Standard Chartered Bank Just One Platinum Cash Back Credit Card Review 2018
- Standard Chartered Bank Gold Cash Back MasterCard Review 2018
- Hong Leong Bank Wise Cash Back Visa Review 2018
I did ask my followers for suggestions if they would like to add any other cards for comparison and 2 cards were suggested – Hong Leong Bank MACH Credit Card and UOB YOLO Visa.
I noted that both these cards, i.e. HLB MACH Credit Card and UOB YOLO, suggested may actually be beneficial to some of you guys; therefore I decided that I should add them to my table of comparison.
The HLB MACH Credit Card is actually very good for Dining as highlighted by Ms. Ho where you are guaranteed 5% cash back even at McD.
Some of you have commented at my Facebook Page on UOB YOLO’s ridiculous requirements of minimum swipes in order to be eligible for the cash back. YES, it is damn freaking ridiculous, who the heck is so free to record every transaction they make with the UOB YOLO. However, since many of you are educated and use your brains to overcome any situation, the UOB minimum 8 swipes can be easily achieved, hahaha. Under UOB YOLO analysis, I will share with you tips on how to easily overcome UOB YOLO’s stupid ridiculous unreasonable toying with us requirements to earn 5% or 8% cash back.
About This Exclusive Mini Showdown 2018
Note: For now this Mini Showdown is EXCLUSIVE for certain Facebook Followers of mine who have satisfied the conditions I have set. Maybe later on I might open this Mini Showdown which includes tips to earn more pocket money to the Public.
In addition to just awarding STARS to each individual card, I will also share with you really exclusive tips, for example:
- Which credit card earns you cash back for PTPTN loans (Government Related Transactions).
- How to go about easily satisfying UOB YOLO’s ridiculous requirements of minimum swipes in order to earn 8% cash back.
- What cash back credit cards you should be holding based on your income and spending pattern.
- How one of my Followers earned minimum 26% cash back for petrol!!!
- How one of my Followers managed to earn more than 10% in cash back last year from essential expenses where she spent approximately RM2K per month.
- How to earn guaranteed minimum 6..25% cash back for reloading your Touch N Go card.
- And the FREE FOR LIFE Maybank 2 Gold/Platinum Cards AMEX can actually earn you up to 7.3% in cash back (for up to RM1K spending). YES, it’s true, that’s why I keep saying this card is freaking wonderful and I use it on weekends even though I have the equally fantastic Maybank 2 Cards Premier AMEX Reserve.
- How you can earn UNLIMITED equivalent cash back of up to 8.8% and 11% from your Local and Overseas spending respectively.
- You will learn why there is no cash back credit card, except for the wonderful Maybank 2 Cards AMEX, in My Credit Card Collection (click them to see them once again) for years.
GenX’s Best Top 5 Cash Back Credit Cards 2018 Mini Showdown Results Versus Readers’ Choice Award
The good news is that all Malaysians are still able to earn more cash back without reading my full analysis to determine the Top 5 Cash Back Credit Cards. I will make known the results of my mini showdown to determine the Best Top 5 Cash Back Credit Cards versus the recent Readers’ Choice Award 2018. You will note that both my Followers (based on actual usage) and my mini showdown (based on theory) have concluded that The No.1 Best Top Super Cash Back Credit Card in Malaysia is the Maybank 2 Gold/Platinum Cards (American Express) where the card holder is guaranteed 5% cash back for any type of transactions on weekends.
And if you are holding any of the Readers’ Choice Top 5 Credit Card(s), you will then earn more pocket money from your essential expenses. Add one of the Top 5 card determined by my Mini Showdown and you will get FREE makan at KLIA and KLIA2 🙂
Click here to read/see GenX GenY GenZ’s Readers’ Choice Award for Best Top 5 Cash Back Credit Cards in Malaysia 2018.
And below is the results of my Top 5 Cash Back Credit Cards based on a systematic methodology versus my Rewaders’ Choice where they actually use the cards to optimize cash back returns from their transactions:
METHODOLOGY To Determine The Best Cash Back Credit Card in Malaysia
I will adopt the following criteria for evaluation and assign STARS for each individual card’s standard features:
- FREE FOR LIFE without any conditions – 3 STARS.
- Annual fee waived with 12X swipes – 2 STARS.
- Annual fee waived with less than RM12K spending a year (RM1000 per month) – 1 STAR. No STAR will be awarded any credit card that requires one to spend more than RM12K per year for auto annual fee waiver.
CASH BACK Percentage and Monthly Cap
i) General Transactions
- Card that guarantees UNLIMITED EFFECTIVE 1% – 1.99% cash back with no minimum spending, it will earn itself 2 STARS. However, if there is a monthly cap, it will only receive 1 STAR.
- Card that guarantees EFFECTIVE 2% – 4.99% cash back for general transactions on a particular day with monthly quota, it will earn 1 STAR.
- Card that guarantees EFFECTIVE 5% – 9.99% cash back every day of the week with monthly quota, it will earn 2 STARS.
ii) Cash Back for Petrol
- If a card guarantees you EFFECTIVE 2% to 4.99% cash back for Petrol, it will earn 1 STAR.
- If a card guarantees you EFFECTIVE 5% – 9.99% cash back for Petrol, it will be awarded 2 STARS.
iii) Cash Back for Groceries
- Card that guarantees you EFFECTIVE 2% to 4.99% cash back for Groceries, it will earn 1 STAR.
- Card that guarantees you EFFECTIVE 5% – 9.99% cash back for Groceries, it will be awarded 2 STARS.
iv) Cash Back for Dining
- If a card guarantees you EFFECTIVE 2% to 4.99% cash back for Dining, it will earn 1 STAR.
- On the other hand, if a card guarantees you EFFECTIVE 5% – 9.99% cash back for Dining, it will be awarded 2 STARS.
v) Cash Back for Insurance
If a card guarantees you EFFECTIVE 2% to 4.99% cash back for Insurance, it will earn 1 STAR. On the other hand, if a card guarantees you EFFECTIVE 5% – 9.99% cash back for Insurance, it will be awarded 2 STARS.
vi) Cash Back for Government Related Transactions
- If a card guarantees you EFFECTIVE 2% to 4.99% cash back for Government Related Transactions, it will earn 1 STAR.
- Card that guarantees you EFFECTIVE 5% – 9.99% cash back for Government Related Transactions, it will be awarded 2 STARS.
Vii) Cash Back for Online Transactions
- Card that guarantees you EFFECTIVE 2% to 4.99% cash back for Online Transactions, it will earn 1 STAR.
- Card that guarantees you EFFECTIVE 5% – 9.99% cash back for Online Transactions, it will be awarded 2 STARS.
FREE Airport Lounge Access
You know lah my motto – FREE IS THE BEST!
So, if a card grants you minimum 5X FREE access to Plaza Premium Lounges (it’s worth a few hundred Ringgit) including KLIA2, it will earn 2 STARS.
If a card has worthwhile promotions (e.g. 12 months 0% Balance Transfer, 50% discount at Starwood Hotels) it will be awarded additional STAR(s).
I’ll be transparent on the results and therefore I hereby present to you my Mini Showdown Summary Table:
If you hold all the above Top 5 Cash Back Credit Cards, you are guaranteed to earn minimum 5% cash back from all you essential expenses (Petrol, Groceries, Insurance, Government, Telcos, UNIFI and even PTPTN loan repayments). Add the Hong Leong Bank MACH Credit Card and you will also earn 5% cash back from dining. And if you do fly often, get the AEON BiG Gold card and you then will be entitled to 6X FREE access to airport lounges where most of the platinum credit cards can’t even get a single FREE access to any of the Plaza Premium Lounges at KLIA2.
Thank you for dropping by and reading the above.
EXCLUSIVELY FOR LOYAL SUPPORTERS OF GenX GenY GenZ – TOP URGENT SECRET TIPS TO EARN MORE FREE MONEY
Only the following loyal supporters who constantly Like GenX GenY GenZ Facebook are allowed to proceed beyond this point:
- My Friends (i.e. you have my WhatsApp Number);
- Elite Apprentices of mine who have passed Mission No.1 and Mission No.2 and therefore qualified to learn the ancient secret techniques of true Cash Back Jedi Masters;
- Those who shared my I Love GenX GenY GenZ post.
- Those of you who before 29th January 2019 satisfied the requirement as stated in my post dated 2 January at Facebook.
If your name appears in this list at my Facebook Post on 29th January 2018 and you have yet to receive the encrypted Password to proceed, please Private Message me at Facebook.
Without durther ado, please click on the image/link below to see how each of the selected credit cards performed against each other to earn STARS and learn some really elusive tips to earn more cash back by Followers/Friends of GenX GenY GenZ and your truly too: