INTRODUCTION
The Maybank FC Barcelona Visa Signature was great as it previously earned us up to 10% cash back but it is history now.
Hong Leong Bank has also terminated their Fortune Visa Cash Back and MACH Credit Cards in September 2020.
HLB has also streamline their Wise Cash Back Credit Card to just 3 categories for 8% cash back, i.e. Petrol, Groceries and Dining.
The Maybank 2 Gold/Platinum AMEX is still the most versatile as you can earn guaranteed 5% cash back on weekends for almost anything except for topping up eWallets, government and utilities.
To my surprised this year, a couple banks introduced credit cards that give us meaningful cash back and Enrich Miles from our Online Transactions and Topping Up eWallets.
However, everyone needs are different, and therefore one needs to choose the right cash back credit cards based on their spending pattern to maximize earning cash back.
Basically, the spending categories nowadays are not just the basic Petrol, Groceries and Dining. What is more important today is that a credit card reward us with meaningful cash back for ONLINE transactions and eWallet Top Ups because we can practically pay/purchase anything (physical or services) with the internet including groceries, food and renewing our road tax too.
In respect to the above, the HLB Wise Visa which does not earn us any meaningful cash back from online transactions can be deemed as good as useless. And with the cash back cap at RM18 per month for petrol (you need to spend minimum RM500 to earn 8% cash back), only a fool will get this card for the sole purpose of pumping petrol as we know the annual fee cannot be waived for the HLB Wise.
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