Unlimited Cashback Credit Cards in Malaysia

Unlimited Cashback Credit Cards in Malaysia

Although there is no strict definition of what an unlimited cashback card should be, cardholders generally perceive it as a credit card that provides unlimited cashback when you spend. More importantly, the unlimited cashback applies to all categories, making it a true unlimited cashback card. By using the Duithub credit card explorer, we found around 8 credit cards that provide unlimited cashback to cardholders:

• Alliance Bank Visa Signature credit card

• OCBC 365 Mastercard credit card

• Ambank Cash Rebate Visa Platinum credit card

• Public Bank Visa Platinum credit card

• OCBC Mastercard Pink credit card

• OCBC Mastercard Blue credit card

• OCBC World Mastercard credit card

• OCBC Cashflo Mastercard credit card

There are many other credit cards that provide unlimited cashback for certain spending categories, especially on overseas spending. One reason overseas spending is a popular unlimited cashback category is that the profit made by issuers is higher than for local spending.

In this article, we will explore full unlimited cashback credit cards and those that provide cashback only in certain categories.

Unlimited Cashback Credit Cards

Among the full unlimited credit cards listed above, let's take a closer look to understand which card rewards you with the highest cashback, possibly with the least spending. Let’s assume you spend RM5,000 in one calendar month across various categories. Although it is not directly an unlimited cashback card, since any spending above RM3,000 earns you an unlimited cashback rate of 0.25%, it indirectly becomes an unlimited cashback credit card. The Alliance Bank Visa Signature has an effective cashback rate of 1.2% if the total spending is RM5,000 (Cashback of RM60.50), making it the highest unlimited cashback credit card in the market.

The five OCBC credit cards listed above—the OCBC 365 Mastercard credit card, OCBC Mastercard Pink credit card, OCBC Mastercard Blue credit card, OCBC World Mastercard credit card, and OCBC Cashflo Mastercard credit card—all offer a cashback of 0.5%. So, RM5,000 of spending would earn RM25 in cashback. The Public Bank Visa Platinum credit card and Ambank Cash Rebate Visa Platinum credit card offer unlimited cashback of 0.2% and 0.1%, respectively.

Unlimited Cashback for Certain Categories Credit Cards

Most of the unlimited cashback credit cards in this section are for overseas spending. The CIMB Petronas Visa Infinite credit card, BSN Visa Cash Back credit card, Muamalat Pos Visa Infinite credit card, and Muamalat Visa Infinite credit card all offer 1% unlimited cashback for overseas spending. Meanwhile, the HSBC Advance Visa Platinum and HSBC Live Plus Visa Signature cards both offer 0.5% unlimited cashback for overseas spending, plus 0.2% unlimited cashback on any travel spending.

If you’re looking for more versatile cashback credit cards, the CIMB Petronas Mastercard Platinum credit card and UOB One credit card both offer 0.2% on all categories (except petrol for the CIMB Petronas Mastercard Platinum credit card and categories that already have cashback in the case of the UOB One credit card). The RHB Shell Visa credit card, RHB World Mastercard credit card, and RHB Visa Signature credit cards all offer 0.2% unlimited cashback on overseas and travel spending. Lastly, the only credit card that offers unlimited cashback for insurance is the Hong Leong Essential credit card, with a cashback rate of 0.4%.

Summary

The takeaway from understanding the unlimited cashback credit card market in Malaysia is that there are many options available, most of which are geared toward people with large spending who are not interested in airmiles or other rewards. Unlimited cashback credit cards can be a good choice for those who spend more than RM5,000 per month, and by accumulating cashback over time, they can achieve significant savings. For cardholders who spend less than RM5,000, it is better to focus on typical cashback cards and delve into the categories they spend the most on to maximize cashback from their credit card spending.