Is there one best credit card?

Not all cards are the same and in reality there is no such thing as the best credit card. How could a card that offers you Air Miles at the drop of a hat benefit you if you have no plans of flying anytime soon? How could an ultra-Premium credit card that provides you with loads of perks and privileges benefit you if you are not meeting the required income eligibility norms? What, we will do here is outline a process that will help you identify those cards that best suit your requirements.

Analyze your spending

Even before you go in for a credit card, you must be aware of your spending patterns. Track all your spending for a period of time; group it into a few major categories like groceries, fuel spends, medical care spends, public utility spends, fashion / dining / entertainment, online shopping, air travel etc. choose a credit card that gives you the most rewards for your highest spending categories. This enables you to maximize the rewards and benefits you earn.

Check out credit card categories

There are various categories of credit cards available in Malaysia; “specialization” is based either upon the type of rewards provided or upon the major category of spend. Some of the main categories are cash back cards, rewards cards, travel cards, petrol cards etc. Knowing the various credit card categories and the type of rewards and benefits associated with it can help you better sync and choose a credit card that is fitted to your current needs.

Compare the best credit cards in Malaysia

Most of the credit card issuers have revoked/revised down many of their card benefits and some even revamped their credit card benefits altogether. Below are some examples:

 Bank Type of card Interest Rate  Balance Transfer Cashback Annual Fee  Rewards
 HSBC HSBC Visa Platinum  15% p.a 0 No RM 254.40 Reward points Dining Travel
 Citibank  Citibank Cash back Platinum 15% 2.99%p.a 5%  Fee Petrol

Groceries Phone bills Pharmacies

 Standard chatered Standard Chatered Just One Platinum MasterCard 15% 5.99% 10% RM 265.00 Petrol
 Alliance Alliance Bank MasterCard Gold 15% 0% No Free Air miles
 Maybank  Maybank 2 Gold Cards 8.88% 0% 5% Free Get an American Express Card free


Once you know your category-wise spending and the various card categories that exist, it is time to select the best fitted card for you. Check the card issued by different banks and choose the one that matches your requirements with best rates.