--- title: "Top 5 Cashback Credit Cards in Malaysia 2024" description: "Explore the top 5 best cashback credit cards in Malaysia for 2023. Dive into detailed reviews, benefits, and tips to maximize your savings." url: "https://www.mrmoneytv.com/articles/top-5-cashback-credit-cards-in-malaysia-2023/" category: "Personal Finance" author: "Finlit" published: 2023-10-11 updated: 2024-05-27 source: "Mr Money TV" --- # Top 5 Cashback Credit Cards in Malaysia 2024 Explore the top 5 best cashback credit cards in Malaysia for 2023. Dive into detailed reviews, benefits, and tips to maximize your savings. ## Key takeaways - The five cards take a monthly minimum income from as low as RM2,000 (RHB Cash Back Visa and UOB One Card) up to RM4,000 for the Alliance Bank Visa Signature. - Standard Chartered Simply Cash gives up to RM60 cashback a month, one of the highest on the list, needs RM3,000/month income, and waives its annual fee once you spend RM12,000 a year. - Alliance Bank Visa Signature has the highest entry bar at RM4,000/month, but its standout is UNCAPPED cashback, earned from as little as RM1 spent on most transactions. - Watch the fees on the UOB One Card: RM120 every year, with no annual fee waiver in the first year or later years. - AEON BiG Visa Gold waives its annual fee after just 12 swipes a year and suits grocery and petrol spending, while RHB Cash Back gives up to RM10 off your bill no matter what you spend on. - The article's core rule: cashback is only a fraction of what you spend, so stay within budget, avoid carrying a balance (interest compounds and cancels out cashback), and use each card for the category where its cashback is highest. One of the first financial tools most of us will get once we start working is a credit card. And these days we are spoilt for choice with countless credit cards offering numerous benefits and rewards. Among the most popular are **cashback credit cards**. These cards return a portion of what you spend, directly reducing your monthly bill. So, here are the **top 5 cashback credit cards** in Malaysia with a **monthly minimum income** as low as **RM2,000**! *P.S. I've also left a little* ***review*** *and* ***pro-tip*** *for each credit card so you'll know exactly what you'll be getting!* ## [#1](https://www.mrmoneytv.com/articles/hashtags/1) Standard Chartered Simply Cash Credit Card [![Standard Chartered Simply Cash Credit Card](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-1.png)](https://bit.ly/3S5Qqxq) [Apply Now](https://bit.ly/3S5Qqxq) ### Features - e-Commerce Purchase Protection up to USD200 ![Standard Chartered Simply Cash Credit Card Cashback Rate](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-2.png) ### Fees and Charges ![Standard Chartered Simply Cash Credit Card Fees](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-3.png) ### Eligibility - Minimum Income: RM36,000/year or **RM3,000/month** ### My Review I think this card is great for **big spenders**. With up to RM60 cashback every month, it's one of the highest among this entire list. And not to mention, you can also bypass paying the annual fee when you spend a minimum of RM12,000 a year; so, one big purchase and your annual fee is waived (unlike other cards which may require you to spend every month to have the fees waived). On that note, just because you get cashback doesn’t mean you should spend excessively. It's a common misconception that more spending means more rewards. But remember, the **cashback is only a fraction of what you spend**. So, stick to your budget and spend within your means. The goal is to earn cashback on necessary and planned expenses, not to spend just for the sake of earning rewards. ## [#2](https://www.mrmoneytv.com/articles/hashtags/2) RHB Cash Back Visa Credit Card [![RHB Cash Back Visa Credit Card](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-4.png)](https://bit.ly/3F3q8UH) [Apply Now](https://bit.ly/3F3q8UH) ### Features ![RHB Cash Back Visa Credit Card Cashback Rate](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-5.png) ### Fees and Charges ![RHB Cash Back Visa Credit Card Fees](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-6.png) ### Eligibility - Minimum Income: RM24,000/year or **RM2,000/month** ### My Review To me, this card is quite an **all-rounder** because regardless of how much you spend and what you spend on, you will still get a percentage of cashback. So, by the end of the month, you can expect to get up to RM10 "deducted" from your overall bill. But of course, the more you spend, the higher the cashback lah. Here's a pro-tip: To truly benefit from cashback, **avoid carrying a balance on your card**. This is because interest charges can quickly negate any cashback earned as it [keeps compounding](https://www.mrmoneytv.com/post/the-power-of-compounding-a-double-edged-sword) with each month your bills go unpaid. One way you can stay on top of your bills is by setting up automatic payments or reminders to ensure you always pay your bills on time to avoid late fees and interest. ## [#3](https://www.mrmoneytv.com/articles/hashtags/3) UOB One Card [![UOB One Card](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-7.jpg)](https://bit.ly/3rUUVQG) [Apply Now](https://bit.ly/3rUUVQG) ### Features ![UOB One Card Cashback Rate](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-8.png) ### Fees and Charges ![UOB One Card Fees](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-9.png) ### Eligibility - Minimum Income: RM24,000/year or **RM2,000/month** ### My Review Pretty similar to the [RHB Cash Back Visa Credit Card](#viewer-3vlae), this UOB card is **quite versatile** as well. I also heard that it's relatively easy to have your application approved therefore, in a way, this card is "easily accessible". The only downside would be the annual fee. Unlike most credit cards, this card doesn't waive the first year's annual fee and there are no fee waivers for subsequent years. So, just be ready to fork out RM120 every year lah. In conjunction with World Financial Planning Month this October, here's a tip to ensure you're getting the most out of your credit card: Make sure you **regularly review and update your card**. This is because there are constantly new offers and promotions emerging so you’ll want to review your card's benefits at least once a year to ensure you still have the best card for your spending habits. ## [#4](https://www.mrmoneytv.com/articles/hashtags/4) AEON BiG Visa Gold Card [![AEON BiG Visa Gold Card](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-10.png)](https://bit.ly/3tuldJO) [Apply Now](https://bit.ly/3tuldJO) ### Features - Complimentary access to Plaza Premium Lounge (3X per year) - Up to RM200,000 Travel Insurance coverage ![AEON BiG Visa Gold Card Cashback Rate](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-11.png) ### Rewards ![AEON BiG Visa Gold Card Rewards](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-12.png) ### Fees and Charges ![AEON BiG Visa Gold Card Fees](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-13.png) ### Eligibility - Minimum Income: RM36,000/year or **RM3,000/month** ### My Review This card is as good as it comes. Not only is the minimum income relatively low but the cashback and additional rewards are quite impressive too! Issued by the household-named grocery store, AEON, this card offers **competitive rewards** if you frequently shop there. Not to mention, you can easily **get your annual fee waived** as it only takes 12 swipes annually (which I’m sure can be achieved if you go grocery shopping at least once a month). One advice I have for those who have two or more credit cards is to o**ptimize your spending habits according to categories**. In other words, use the card that offers the highest cashback in a specific category. For example, the AEON BiG Visa Gold Card would be a great card for grocery shopping and petrol transactions; whereas the Standard Chartered Simply Cash Credit Card is great for dining out. So, if you were to get both, I would suggest you use them for those respective categories to get the most out of your cashback credit cards. ## [#5](https://www.mrmoneytv.com/articles/hashtags/5) Alliance Bank Visa Signature Credit Card [![Alliance Bank Visa Signature Credit Card](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-14.png)](https://bit.ly/46U4fmx) [Apply Now](https://bit.ly/46U4fmx) ### Features - Complimentary RM80 e-hailing to Airport (2X per year) ![Alliance Bank Visa Signature Credit Card Cashback Rate](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-15.png) ### Fees and Charges ![Alliance Bank Visa Signature Credit Card Fees](../../assets/articles/top-5-cashback-credit-cards-in-malaysia-2023/img-16.png) ### Eligibility - Minimum Income: RM48,000/year or **RM4,000/month** ### My Review The minimum income required for this card is the highest among the rest on this list but the highlight of it is that the cashback rewarded is **UNCAPPED**! Just by spending as little as RM1 on most transactions, you can already start getting cashback on your overall bill. But of course, you’ll want to **understand the terms and conditions** that come with the card. So, whether you’re getting this card or any of the credit cards above, you should do your research and determine if the card you’re getting suits your needs and lifestyle. #### Already have a credit card but it’s not a cashback card? Don't worry! You can also take advantage of it by following this [comprehensive guide](https://www.mrmoneytv.com/post/making-your-credit-card-work-for-you-in-malaysia-2023). ## Which Cashback Credit Card Is The Best For You in Malaysia? At the end of the day, it all comes down to your **spending habits, lifestyle and personal needs**. Maybe an extra incentive when choosing the right card for you is to look out for other benefits like **loyalty points, travel benefits, or complimentary insurance.** Personally, I prefer using a cashback credit card in Malaysia because I can **reap the benefits “instantly”** when my bill is due. In comparison to a rewards credit card, I’ll just be accumulating points and never redeeming them (because I don’t have time to keep up with the rewards being offered). #### If you’re still unsure about credit cards, here are some [common FAQs](https://www.instagram.com/p/CxArFQTr120/?igshid=MzRlODBiNWFlZA==) that may help you along this journey. *Subscribe to our* [***financial newsletter***](https://www.mrmoneytv.com/) *for the latest news, insights, and advice on personal finance, investing, and more. With every email, you’ll gather the confidence and knowledge to make informed decisions to achieve your financial goals.* ## Frequently asked questions ### What is the minimum monthly income for a cashback credit card in Malaysia? The five cards in this list start from RM2,000 a month. The RHB Cash Back Visa and UOB One Card both need RM2,000/month, or RM24,000 a year. Standard Chartered Simply Cash and AEON BiG Visa Gold ask for RM3,000/month. The Alliance Bank Visa Signature sits highest at RM4,000/month, which is RM48,000 a year. Your income decides which of these you can apply for. ### Which cashback credit card in Malaysia has uncapped cashback? Among these five cards, the Alliance Bank Visa Signature is the one flagged for UNCAPPED cashback. You start earning from as little as RM1 spent on most transactions, with no monthly ceiling stated. The trade-off is the highest income bar on the list at RM4,000 a month. The article's advice is to read the terms and conditions first and make sure the card suits your needs before you apply. ### How do you avoid the annual fee on a cashback credit card in Malaysia? It depends on the card. Standard Chartered Simply Cash waives the annual fee once you spend RM12,000 in a year, so one big purchase can cover it. The AEON BiG Visa Gold needs just 12 swipes a year to waive its fee. The UOB One Card is the exception: it does not waive the fee in the first year or later years, so you pay RM120 every year.