Best Cashback Credit Card for B40 in Malaysia for year 2020

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As we can see nowadays, credit card is widely use in our country. Each credit card has their own reward if you used it. Example, some cards is giving the reward as points collection which can use to redeem goods later; some cards will provide cashback on the amount spent on their monthly statement.

Therefore, there is no one card suit all.

Here I would like to list down some for the best entry-level cashback credit card where the require  minimum annual income to apply as low as RM24,000/pa.


Maybank 2 Gold Cards



Annual Fee: Lifetime fee waiver
Minimum annual income: RM30,000
Benefit:
  • 5% Cashback on weekends (Saturday and Sunday) with Maybank 2 American Express Card with a cap of RM50 per customer (Principal Cardmember) per month, and up to RM600 per annum.
  • Earn treat points when the spending not eligible for cashback
    • 5x TreatsPoints for spend on weekdays with Maybank 2 American Express Card
    • 1x TreatsPoint for spend on Maybank 2 Mastercard / Visa Card  
Downside:
  • Maybank 2 Mastercard / Visa Card only can earn TreatsPoint. No Cashback.
  • American Express Card is not widely accepted
  •  5% Cashback will not be awarded for spend on weekday and government bodies and utilities on weekends
  • No more Cashback and TreatPoint awarded together on weekend spending
  • E-wallet reload / topup not eligible for Cashback and TreatPoint
PB Quantum Credit Cards


Annual Fee: Lifetime fee waiver
Minimum annual income: RM36,000
Benefit:
  • PB Quantum Mastercard: 5% Cash Back on online transactions, capped at RM30 per monthly
  •  PB Quantum Visa card: 5% Cash Back on contactless transactions with minimum RM30 per transaction, capped at RM30 per monthly, and up to RM720 per annum.
  • Earn VIP Points when the spending not eligible for cashback
    • 1x VIP Point for other retail spend (local)
    • 2x VIP Points for other retail spend (overseas)
    • Expiry for VIP Points is three (3) years
Downside:
  • Need to remember which card to spend on which type of transaction in-order to get the maximum cashback benefit.
  • Cashback or VIP Points will not awarded to online transactions exclude casino, petrol, recurring transactions, cash advances, quasi cash, balance transfer, government-related payments, payments to charity.


Standard Chartered Liverpool FC Cashback Credit Card

Annual Fee: RM175/ year (Free on first year of approval)
Minimum annual income: RM36,000
Benefit:
  • 5% Cash Back if spend RM2000 per month, capped at RM50 per monthly and up to RM600 per annum
Retail Spend Per Calendar Month (RM)
Cashback (%)
Cashback Capped Per Month (RM)
 Below RM999.99
0.2%
 RM2
 RM1,000 - RM1,999.99
 2% RM20
 Above RM2,000
 5%RM50

Downside:
  • Need to pay annual fee
  • Petrol and insurance transactions are not applicable for cashback, but count towards the minimum retail spend amount 

Alliance Bank You:nique Cashback Card

Annual Fee: First year waived, thereafter waived with a minimum spend of RM5,000 or swipe your card 12 times within a 12-month period.
Minimum annual income: RM24,000
Benefit:
  • 3% Cash back if spend RM3000 per month, capped at RM42 per monthly and up to RM504 per annum
  • Cashback breakdown as below
Tier Rates Range (RM)
1 0% 0 – 1,000
2 1.20% 1,001 – 2,000
3 3.00% 2,001 – 3,000
4 0.30%>3,000
Downside:
  • Need to spend at least RM1001 and above only can eligible to cashback.

A kind advice: If you cannot afford to make full payment for the credit card statement  every month, you are not advisable to use credit card. As you will become a bank slavery where you are working your life to pay the high interest charged on you credit card usage.

Last, all credit cards is just a facility to help us to do out daily payment more convenient as we don't need to bring huge amount of cash in wallet each time when go out. But make sure you pay full settlement on each month credit card statements to avoid the high interest charges.


If you think there are better cashback credit card which I had missed, feel free to tell me via comment below, so I could add in to let more people know.
Location: Malaysia

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