Best Rewards Credit Cards

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Best Rewards Credit Cards

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Best Rewards Credit Cards

A credit card reward gives you a certain amount of incentives, tokens, or points for using your card regularly. You can trade them in for amazing prizes and perks.

A rewards credit card is a type of credit card that rewards cardholders for making purchases or regular card use. 

These rewards can come from points, cash back, or other incentives like no annual fee payments. It is possible to redeem rewards for things like merchandise, travel, or statement credits.

The incentives are usually on the basis of a point system, and your card issuer will have a rewards catalogue or list of options to redeem the points.

Some benefits include complimentary access to airport lounges, travel insurance, purchase protection, and extended warranty coverage. These benefits vary depending on each reward credit card.

When choosing the many rewards credit card available, the best option for you will depend on your spending habits and financial goals. Here are some popular options to consider:

1. Singapore Airlines KrisFlyer American Express Gold

The Singapore Airlines KrisFlyer American Express Gold offers a sign-up bonus of 35,000 Membership Rewards points (worth $350 in travel) after spending $4,000 in the first three months and 4x points on dining and grocery store purchases (up to $25,000 per calendar year, then 1x).

2. Citi Premier Card

Citi Premier Card offers a sign-up bonus of 60,000 ThankYou points (worth $750 in travel) after spending $4,000 in the first three months and 3x points on travel and gas purchases. The minimum age for principal holders is 21, and 18 for supplementary holders. With this card, you can earn 1 PremierMiles for every RM3 that you spend locally and 2 PremierMiles for every RM3 equivalent in foreign currencies. However, this is applicable to selected online travel merchants only.

3. The UOB PRVI Miles Card

The UOB PRVI Miles Card offers rewards such as 5x UNI$ (UOB's own rewards points) on eligible purchases, bonus categories such as overseas transactions, travel-related expenses, online transactions, complimentary travel insurance, and the ability to redeem miles with over 30 airlines. 

Through this card, cardholders also get exclusive promotions, deals, and other benefits like free supplementary cards and cash advances.

4. The Hong Leong AirAsia Gold Visa card

The Hong Leong AirAsia Gold Visa card offers rewards such as AirAsia BIG Points on eligible purchases, bonus categories, no foreign transaction fees, complimentary travel insurance, and discounts on AirAsia flights. 

This card provides owners with exclusive AirAsia promotions, free supplementary cards, and cash advances.

5. The Citi Business Platinum Card: 

The Citi Business Platinum Card offers rewards such as ThankYou points on eligible purchases, bonus points on different categories, no foreign transaction fees, complimentary access to Citi Private Pass, and travel benefits like lost baggage protection, travel accident insurance, and trip cancellation/interruption protection. 

Making a choice among the top rewards credit cards Malaysia has, depends on your spending and financial goals. Here are some factors to consider:

  • Rewards Structure

    Look for a card that offers rewards and bonus points on the type of purchase you make most often, such as cashback on groceries or travel rewards for frequent flyers.

  • Sign-up Bonus

    Some cards offer a hefty premium for signing up and meeting a minimum spending requirement, which can help boost your rewards quickly.

  • Annual Fee

    Some cards come with a yearly fee, which can eat into your rewards. Make sure the rewards you earn outweigh the fee or that the credit card charges little or no annual fee.

  • Interest Rate

    Be aware that rewards cards often have a higher interest rate than non-rewards cards, so make sure to pay off your balance in full each month.

  • Redemption Options

    Consider how you want to redeem your rewards, whether for statement credit, travel, or gift cards.

    Considering these factors, you can find the specific rewards credit card that aligns with your spending and financial goals.

Here are a few ways to maximize credit card rewards:

  • Use the right credit card for cashback
    Some credit cards offer bonus points for specific categories of purchases, such as gas, groceries, or travel. 
    So, to maximize your rewards, you must use the right card for the appropriate transaction.

  • Pay your balance in full
    Carrying a balance on your credit card can negate any rewards earned, as the interest charges will likely be more significant than the rewards earned. 
    So, you can avoid interest charges by paying off your balance every month.

  • Sign up for bonus promotions
    Many credit cards offer sign-up bonuses or promotional offers. Make sure to take advantage of these promotions to earn extra rewards.

  • Take advantage of point transfer options
    Some credit cards offer the opportunity to transfer points to airline or hotel loyalty programs. 
    If you're a frequent traveller, this can be a great way to maximise rewards by earning even more points.

  • Use your card for recurring payments
    Set up a regular payment system with your shopping cards to earn rewards more consistently, like a subscription service or utility bill.

  • Use cashback portals or shopping portals
    Many credit card issuers offer cashback or shopping portals that allow you to earn extra rewards when shopping online through their portal.

  • Keep an eye on expiration dates
    Some reward programs have expiration dates, so make sure to use your rewards before they expire.

  • Keep track of your rewards
    Keep track of the rewards you earn and what they can be used for, and make sure you redeem them promptly.

Choose One Now


A credit card is a convenient tool for people to pay for purchases today, offering many perks and rewards that can add up to more savings for the cardholders.

Today, consumers often use credit cards as payment for their purchases since they are convenient and often come with benefits and incentives that can result in additional discounts for cardholders. With a wide variety of these cards with various advantages, you might ask how to pick the ideal one for your financial needs. We have collected the following FAQ to enable you to understand the most relevant questions regards credit cards, including user conditions, interest rates, and primary payment terms.

Here’s a short guide LOANPANDA has compiled to help you understand the credit card requirements, interest rates and basic payment terms.

Credit card rewards allow customers to earn points, cashback, or other rewards for every purchase they make with their cards.

You can redeem these incentives for various items, such as cashback, travel, or merchandise.

Some cards offer different compensations for purchases or card use, such as bonus points for dining or travel-related purchases.

Additionally, many credit cards offer sign-up bonuses for new customers who meet specific spending requirements.

You should compare the perks and benefits of several credit cards and choose the one that is right for your spending and financial goals. Look for cards with no annual fees.

However, the Maybank American Express Platinum card is one of the best credit cards with impressive reward points.

These include 5x rewards points from spending on groceries, telecommunications, and entertainment. 

It also gives 2 membership Rewards for every RM that you spend locally or overseas.

It depends on the context; you can consider a 2% reward reasonable since it's higher than the average rewards rate of 1%. 

However, it's essential to compare the rewards rate to the credit card's annual fee and interest rate to determine if it's a good value overall. Some credit cards charge little or no annual fee.

Additionally, consider the rewards rate, type of rewards and how they align with your spending habits and financial goals.

The value of 50,000 reward points can vary depending on your rewards card and its redemption process.

Generally speaking, 50,000 points can be worth around $500 to $1000 in travel, a statement credit, a gift card, or cashback, depending on the card issuer's redemption options and values. 

However, it's best to check with the specific credit card issuer for the exact redemption value of the points.

In Malaysia, credit card approval generally depends on your credit score, income, and employment status.

However, getting approval for some credit cards is more straightforward than others.

For instance, most basic credit cards with low-income requirements and no annual fee are easy to get.

Some examples of the most accessible cards in Malaysia are the CIMB MasterCard, the Maybank Visa card, and the RHB MasterCard.

It's always best to check with the bank and compare the terms and conditions of different cards before applying.

The world's top 5 major credit cards are Visa, Mastercard, American Express, Discover, and UnionPay. 

Almost all merchants and ATMs around the world accept them, making them ideal for travelling and everyday use.

Also, if you choose one of these cards, you'll get different income and credit score requirements for approval.

The most luxurious credit cards include the American Express Centurion Card, Mastercard Black Card, and J.P. Morgan Reserve Card.

Most luxury credit cards are invite-only and have high annual fee requirements. They offer concierge, airport lounges, and luxury travel incentives. 

These cards are limited to high-net-worth individuals with high credit scores and incomes.

The most innovative way to use the best credit card with rewards is to pay off the balance monthly to avoid interest charges. 

Also, if you try, you can maximise the bonuses by using the card for purchases that earn the most points or cash back on all or some purchases.

Ultimately, this depends on whether you use your credit card rewards, such as cashback or travel points, as a person or business entity.

The Royal Malaysian Customs Department Internal Tax Division published a guide on credit cards and charge cards in 2018. You can refer to it for further details on the various tax brackets and when they apply to separate credit card holders.

Yes, rewards or shopping cards are worth it as they offer benefits such as cashback, no annual fee, points, or miles for eligible purchases. 

For some people, rewards points can be a great way to earn points, low-interest rates, 1 cash back on purchases, or other perks on everyday purchases.