{"id":32974,"date":"2018-01-30T16:08:39","date_gmt":"2018-01-30T08:08:39","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=32974"},"modified":"2022-09-07T12:05:29","modified_gmt":"2022-09-07T04:05:29","slug":"best-credit-cards","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/best-credit-cards","title":{"rendered":"Best Credit Card Voting Results 2017"},"content":{"rendered":"

Did you know that there are 3.6 million credit card holders in Malaysia<\/a>, as calculated by the Department of Statistics (DOSM) in June last year?<\/p>\n

DOSM revealed the figure translated to 18% of 20 million Malaysians, aged between 20 and 74, while Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said consumption via credit card rose by 2.6%<\/a> in May compared to the previous year.<\/p>\n

The Malaysian Reserve<\/a> also reported 8.4 million credit cards were circulated by May last year, while a survey discovered three out of five Malaysians prefer to use credit cards.<\/p>\n

The evolution of technology has made it much more secure to make purchases with credit cards \u2013 DOSM recorded 368.3 million payments<\/a> were made with credit cards from January to November 2017.<\/p>\n

Hence, in a span of a month, we reached out to 292 people in search of their preferred cashback, rewards and travel cards to be crowned under the iMoney Best Credit Card Award.<\/p>\n

In search of the plastic winners, several options from Maybank, Citibank, HSBC, Alliance and Standard Chartered were provided and the results are finally revealed.<\/p>\n

So, which made it to the top?<\/p>\n

<\/span>Best cashback credit card <\/strong><\/span><\/h2>\n

<\/span>Winner: Maybank 2 cards<\/strong><\/span><\/h3>\n

This card was in the headlines last year after its weekend cashbacks made a comeback (which you can read all about here<\/a>).<\/p>\n

It\u2019s no surprise that 50% of respondents, aged between 28 and 48, named this as their preferred cashback card because weekend swipes get you 5% cashback.<\/p>\n

Besides that, you also get TreatPoints, so, let\u2019s zoom into the benefits offered by Maybank 2 Cards<\/a>.<\/p>\n\n\n\n\n\t\n\n\t\n\t
Maybank 2 Cards
\n<\/center><\/th>
Benefits <\/center>
\n<\/th>\n<\/tr>\n<\/thead>\n
Maybank2 American Express\u00ae Card<\/td>5% weekend Cashback when spend on Maybank2 American Express Card.
\n
\n5x TreatsPoints for all spend on your Maybank2 American Express Card in Malaysia or Overseas.
\n<\/td>\n<\/tr>\n
Maybank2 MasterCard\/VISA<\/td>1x TreatsPoints for all spend on your Maybank2 MasterCard\/Visa Card.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

However, the cashbacks and 5x TreatPoints are only valid on weekends with the Maybank 2 American Express Card, while the Mastercard\/VISA is only entitled to 1x TreatsPoint per RM1 spent. The cashback is capped at RM50 monthly and up to RM600 per annum.<\/p>\n

Who should swipe this? <\/strong>The Monday to Friday employee, who spends their weekends roaming malls for good deals.<\/p>\n

\"Maybank<\/div>

Maybank 2 Cards<\/a><\/h4>

Up to 5% cashback on weekend retail transactions<\/p>Earn 5x TreatsPoints when swiping in Malaysia or Overseas!<\/em><\/div>

Apply Now<\/a><\/div><\/div>\n

<\/span>2nd<\/sup> place: <\/strong>Standard Chartered Platinum MasterCard<\/strong><\/span><\/h3>\n

The second runner up was a close call with 20% of voters, aged between 22 and 45, naming this card as their favourite – understandable, because it does offer up to 15% of cashbacks!<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t
Monthly retail spend
\n<\/center><\/th>
Cashback (Auto bill payments, online purchases and petrol)<\/center>
\n<\/th>
Other categories <\/center\/<\/th>
Cashback cap<\/center><\/th>\n<\/tr>\n<\/thead>\n
Below RM1,000<\/center><\/td>
0.2% <\/center><\/td>
0.2%<\/center><\/td>
12 <\/center><\/td>\n<\/tr>\n
RM1,000 \u2013 RM1,499.99<\/center><\/td>
5% <\/center><\/td>
0.2% <\/center><\/td>
12 <\/center><\/td>\n<\/tr>\n
RM1,500 \u2013 RM2,499.99<\/center><\/td>
10% <\/center><\/td>
0.2% <\/center><\/td>
28 <\/center><\/td>\n<\/tr>\n
RM2,500 and above<\/center><\/td>
15% <\/center><\/td>
0.2% <\/center><\/td>
85 <\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

However, to get that 15% you must spend RM2,500 and above on auto bill payments (such as electricity and phone bills), online purchases and petrol, otherwise it\u2019s a standard 0.2% regardless of expenditure amount.<\/p>\n

Who should swipe this?<\/strong> The online customer – \u00a0if you\u2019d rather stay home and make purchases or payments online, then you can enjoy the rebates without having to get out of the house.<\/p>\n

<\/span>3rd<\/sup> place: <\/strong>Citibank Cash Back Card<\/strong><\/span><\/h3>\n

It\u2019s got cashbacks for all your expenditure needs from petrol to even, pharmaceuticals. This card managed to win over 15% of voters, aged between 26 and 57.<\/p>\n

But what are the cashbacks which attracted this group?<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t
Spending
\n<\/center><\/th>
Cashbacks <\/center>
\n<\/th>\n<\/tr>\n<\/thead>\n
Petrol<\/center><\/td>
5% <\/center><\/td>\n<\/tr>\n
Grocery<\/center><\/td>
2% <\/center><\/td>\n<\/tr>\n
Telecommunication<\/center><\/td>
2% <\/center><\/td>\n<\/tr>\n
Pharmaceuticals<\/center><\/td>
2% <\/center><\/td>\n<\/tr>\n
Others<\/center><\/td>
0.2% <\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

The cashback amount, when you accumulate RM20 or more within a month, will be automatically credited into your account.<\/p>\n

But, keep in mind that cashback is subjected to an annual fee as listed below:<\/p>\n\n\n\n\n\t\n\n\t\n\t
Card
\n<\/center><\/th>
Fee (inclusive of 6%)<\/center>
\n<\/th>\n<\/tr>\n<\/thead>\n
Citibank Cash Back Card<\/center><\/td>
RM127.20 (principal card)
\nRM63.60 (supplementary card)
\n<\/center><\/td>\n<\/tr>\n
Citibank Cash Back Platinum Card<\/center><\/td>
RM206.70 (principal card)
\nRM107 (supplementary card)
\n<\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

On the upside, your first-year annual fee will be waived for the principal card if you swipe three times within 60 days from card approval date.<\/p>\n

Who should swipe this?<\/strong> The all-rounder \u2013 the typical spender because you get cashbacks for all the necessities such as petrol and groceries.<\/p>\n

<\/span>Best rewards credit card<\/strong><\/span><\/h2>\n

<\/span>Winner: Citi Clear Credit Card<\/strong><\/span><\/h3>\n

We\u2019re guessing the 31.8%, who voted for this card as their preferred rewards card, might be movie or coffee buffs.<\/p>\n

Surprisingly, the respondents for the card which also has benefits for the \u201ccoolest places\u201d such as Zouk Club KL and Topman, were aged between 28 and 46.<\/p>\n

Now, let\u2019s check out what type of rewards made it the champion:<\/p>\n\n\n\n\n\t\n\n\t\n\t\n\t
Places
\n<\/center><\/th>
Benefits<\/center>
\n<\/th>\n<\/tr>\n<\/thead>\n
GSC \/ TGV cinemas
\n(excluding Golden Screen Cinemas Signature and Golden Screen Cinemas Maxx outlets)<\/i><\/center>
\n<\/td>
1 complimentary cinema ticket for every cinema ticket purchased using the card on Fridays <\/center><\/td>\n<\/tr>\n
The Coffee Bean and Tea Leaf (except HSBC Lebuh Ampang, KLIA Arrival Hall (MTB) and East Malaysia outlets)<\/i><\/center><\/td>
1 complimentary drink per transaction from Monday to Friday of equivalent value or less <\/center><\/td>\n<\/tr>\n
Borders\/ Topshop\/ Sakae Sushi\/ La Senza\/ GAP\/ Vincci\/ Topman\/ Zouk Club KL\/ G2000\/ Roxy\/ Quicksilver\/<\/center><\/td>
3x rewards points for every RM1 spent<\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

However, before you hop on over to the cinema, keep in mind that:<\/p>\n