Top 3 cash back credit cards to suit your lifestyle

With hundreds of credit cards now available in the market, it can get really confusing especially when you consider the fact that not all of them are created equal. However, these days many Malaysians optimise their credit cards spending with cash back credit cards.

Essentially, a cash back credit card is a credit card that rewards the cardholder a rebate based on their spending. This can be then further broken down into the cash back tier, monthly cap and cash back categories.

Cash back tier means how much you have to spend to earn that amount of cash back. For example, if you spend RM300 you get 4% cash back and have to spend RM2,500 and above for 8% cash back.

Next up is the monthly cap which is the amount that the rebate is capped at every month (ranging from RM10 – RM100 or more), and the cash back category is the type of retail transaction or spending you need to perform to qualify for the cash back rebate.

However, if you are looking for a cash back credit card that suits your spending habits, we’ve shortlisted three of the best ones for you to choose below.

Hong Leong Wise Gold Card

Looking for a cash back credit card that offers you a variety of choices on the cash back categories? The Hong Leong Wise Gold lets you enjoy 10% cash back on spending for two of your chosen categories (there are ten available) when you make a minimum of any 10 retail transactions (minimum RM50 per transaction) in a month.

Do take note that to change categories at any time, you will have to pay maintenance fee of RM10.60.

Recommended for:

Malaysians who use their credit card for a variety of transactions and want more control on their cash back based on their spending habits.

Qualifying Criteria:

• Minimum age of 21 years old and a minimum income of RM2,000 per month (RM24,000 per annum)
• Annual fees: RM169.90 for Principal cardholders and RM84.80 for supplementary card holders

Shell-Citi Gold Credit Card

Always on the road or just want more money back from all your petrol expenditure? The Shell-Citi Gold credit card lets you enjoy a cash back rebate of up to 8% when you fill up on petrol at any Shell station nationwide.

Recommended for:

This cash back credit card is ideal for Malaysians who spend more on petrol every month and prefer to visit Shell petrol stations to earn cash back rebates.

Qualifying Criteria:

• Minimum age of 21 years old and a minimum income of RM2, 000 per month (RM24,000 per annum)
• No annual fees for the first year by using the card three times within 60 days of card approval.
• For subsequent years, RM206.70 per annum for principal; RM106.00 for supplementary cardholders.

OCBC 365 MasterCard

The OCBC 365 MasterCard is a great choice if you are a first time credit card owner looking to earn cash back on all of your spending.

You will receive 1% cash back on the first RM1,000 you spend and 0.5% for all subsequent spending –  making it a hassle-free and easy to manage cash back credit card.

Recommended for:

Malaysians who are looking for their first credit card and wish to enjoy cash back rebates for all of their spending.

Qualifying Criteria:

• Minimum age of 21 years and a minimum income of RM2,000 per month. (RM24,000 per annum)
• No annual fees for the first year, only for first time OCBC credit card customers or customers who last held an OCBC credit card more than 12 months ago.
• RM106.00 per year for principal and RM53.00 per annum for supplementary cardholders.

For more information on how to compare cash back credit cards, check out this handy guide here by CompareHero.my.

Note: This is a guest post by CompareHero.my, a Malaysia’s financial comparison portal which helps consumer in finding the right financial products at the right price.

Malaysian credit and debit cards are evoluting from signature based to PIN and Pay

You might be aware that credit and debit cards issued by banks and financial institutions in Malaysia are gradually changing from the traditional signature based to the new PIN and Pay system.

With the introduction of this new system, cardholders will receive a new card that support PIN and Pay latest by mid-2017, and after that, signature will no longer be accepted to authorize your card payment at the merchants Point-of-Sale (POS) terminal. Instead, you are required to key in a 6 digit PIN at the device to authorize the payment transaction.

The use of 6 digit PIN is similar to the way you use your ATM card to login to the bank's ATM machine.

(Photo by iStock)

This evolution is aimed to protect against fraud due to lost or stolen cards, as the card and the PIN are required to make a payment at the terminal.

All card issuers in Malaysia are required by Bank Negara Malaysia to upgrade payment cards to PIN and Pay type. Your card issuer will decline your old signature card 3 months after issuing you a new PIN card or after you are notified to collect your new PIN card from the branch.

Note that PIN and Pay is NOT applicable to Internet payment transaction and over the phone payment transaction. You should NOT disclose your PIN over the Internet or over the phone. Internet payment is still verified by CVV number as usual, and there is no change to it.

Click here for more information about the PIN and Pay system.

10 signs of a bad working environment

I would like to share with you an interesting article contributed by Dennis McCafferty to Baseline Magazine, which listed out the 10 signs of a bad working environment (or so called toxic workplace) that you must beware of.

The 10 signs are...

1. Tasks are assigned without explanation
You are constantly asked to do something that isn't likely to contribute value. When you question why, you're simply told, "Because we need you to do it."

2. Favouritism abounds
Bosses reward those who are skilled at playing politics, even though they never make productive contributions.

3. Senior management MIA
If your leaders are always out of the office, or hiding in their offices, or unable to be reached, that's an indication that something is seriously wrong.

4. Cliques are everywhere
Instead of a united team, you have factions that threaten to tear the team apart.

5. Attempts at innovation are suppressed
When you propose something new and innovative, it gets shot down in a hurry because it's "not something we normally do".

6. Efforts to improve processes are shot down
Management counters your suggestions with, "This is the way we've always done it, so why change things?"

7. Critical topics are never discussed
Avoiding transparency, leaders refuse to discuss important subjects, including company finances, failed projects or internal scandals.

8. People are removing personal items
If you notice that co-workers are removing family photos and personal files a little bit at a time, it may be because they're not planning to stay much longer.

9. Managers ignore questions about raises, recognition
When the stock response to these inquiries is, "You are lucky to have a job!" its probably time to go.

10. Nobody smiles or laughs
When you walk around the office and see nothing but frowns, you can conclude that a toxic environment has taken hold, and likely can't be reversed.

If you find these signs in your working place, then you are probably surrounded by atmosphere of low morale, destructive cliques, company secrets, counter-productive policies and/or high employee turnover.

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

McCafferty is a freelance writer for Baseline Magazine.

 

 

- See more at: http://www.baselinemag.com/c/a/Intelligence/10-Signs-of-a-Bad-Work-Environment-876005?utm_medium=email&utm_campaign=BL_NL_BB_20160217_STR1L1&dni=303975746&rni=23731907#sthash.ocwIR2WT.dpuf

Dennis McCafferty

Dennis McCafferty