In today’s era of globalisation, online shopping is no longer an unfamiliar concept for many of us; be it for teenagers, adults or even the elderly! With so many advanced technologies available, most people nowadays prefer online shopping over in-store shopping. Perhaps because it’s very convenient – you can go on a shopping spree with just a few taps of your fingertips and can pay through online means, such as through a debit or credit card. Besides, it is also suitable for those who are always busy and do not have the time to go out shopping.
The practice of using a credit card when online shopping is incredibly common these days. However, you must know that different credit cards offer various advantages. Some may offer you cashback benefits, some loyalty points, and some even offer access to airport lounges! Hence, it’s essential to take note of what the credit card offers and fully take advantage of the benefits. Trust us, this will totally transform your online shopping experience for the better!
Are you still not sure which credit card is the perfect choice? Fret not! Today, we will be listing out the best credit cards for online shopping in 2021. Bear in mind that the list is in no particular order. Without further ado, get ready your pen and paper, and let’s get started.
1. Maybank 2 Gold/Platinum Cards
Here’s one card which we believe you’ll have to own if you’re allowed to own only one credit card. It is no other than the Maybank 2 Gold/Platinum cards – one of the best credit cards in Malaysia for cashback! As to what the name suggests, this Maybank 2 Cards come in pair: Maybank 2 American Express (AMEX) Card and Maybank 2 Visa Card.
Here are what the Maybank 2 Gold/Platinum Cards have to offer:
- Cashback: 5% off on all types of weekend expenses, capped at RM50 (not awarded for government services and utility transactions)
- Annual Fee: RM0, free for life.
- Minimum Income Requirement: RM2,500 per month (RM30,000 per year)
- Bonus: Maybank TreatPoints
Do keep in mind that you can only earn cashback and Maybank TreatPoints for transactions made with Maybank 2 AMEX. Therefore, you can keep your Visa/Mastercard. However, it’s also crucial for you to keep in mind that the American Express is not supported locally in Malaysia; compared to Visa/Mastercard. Therefore, ensure that the sites that you’re purchasing from accept AMEX as a payment method before using the card.
2. Public Bank Visa Signature
Another credit card that is worth owning for online shopping is the Public Bank Visa Signature. You can expect various benefits from owning this credit card. Moreover, you can even use the card to purchase your daily necessities.
Below are what the Public Bank Visa Signature has to offer:
- Cashback: 6% on dining, groceries, and online purchases (capped at RM38)
- Annual Fee: RM388 with the first year free, waived at 12 swipes per year.
- Minimum Income Requirement: RM6,700 per month (RM80,000 per year)
- 2x complimentary access to Plaza Premium Lounge per year in Malaysia;
- 1 VIP Point for every spend of RM1 on retail transactions (valid for three years)
With that, users of this card will be able to enjoy both lounge access and cashback benefits in one card. Furthermore, you can use it on Shopee and Lazada – two of the biggest e-commercial sites in Malaysia. It’s undoubtedly worth it!
3. Public Bank Quantum Card
When discussing the best credit cards for online shopping, Public Bank Quantum card definitely deserves to be in the list! You’ll get both the Public Bank Quantum MasterCard and Visa Card as a combo. Besides online shopping, you can also use it for online bill payments.
Here are what the Public Bank Quantum Card has to offer:
- Cashback: 5% on online dining and online purchase (capped at RM30 for each card)
- Annual Fee: RM0, free for life
- Minimum Income Requirement: RM3,000 per month (RM36,000 per month)
- PB Flexi Pay: 1% for 12 months (minimum purchase of RM1,200)
- 1 VIP Point for other retail spend locally, 2 VIP Points for other retail spend overseas (valid for three years)
Before using the card, bear in mind that the cashback does not apply to a few online transactions. You can find out more about each card here. All in all, this card is perfect for a lot of people; considering that it does not require any annual fees and has a low minimum income requirement.
4. RHB Visa Signature
The next card on the list is no other than the RHB Visa Signature. For this card, the cashback rate depends on the user’s minimum monthly spend. The cashback benefits are for entertainment, online and shopping.
Below are what RHB Visa Signature has to offer:
|MONTHLY SPEND||CASHBACK RATE||MONTHLY CAP|
|RM1,000 – RM2,499||1%||RM30|
|RM2,500 – RM3,499||2%|
|RM3,500 & above||6%|
- Annual Fee: RM0, free for life
- Minimum Income Requirement: RM6,667 per month (RM80,000 per year)
- 5x complimentary access to Plaza Premium Lounges
- Free travel insurance (coverage up to RM600,000)
Considering how the minimum monthly requirement is quite high, not everyone might be able to own the card. However, those who are able to own it will definitely find it very rewarding. This card is really a dream come true as it doesn’t require an annual fee and comes with access to the Plaza Premium Lounges and cashback offers!
5. UOB YOLO Visa
The UOB YOLO Visa is also one of the best credit cards in Malaysia. Its benefits extend beyond online shopping to other services. Moreover, we believe that most people can own this card for themselves and trust us; you won’t regret it.
Here are what UOB Yolo Visa has to offer:
- 5% on the contactless transaction, online and dining (capped at RM30)
- Up to 10% on Grab food, rides and deliveries (capped at RM30
- Annual Fee: RM90 for the first year, waived at 12 swipes per year (1 retail swipe per month)
- Minimum Income Requirement: RM3,000 per month (RM36,000 per year)
As its name suggests, YOLO – You Only Live Once. This card is all about fun and living life to the fullest. Apart from online shopping, you’ll also enjoy benefits through retail, dining, and travelling. If you reach the minimum income requirement – we highly recommend getting this credit card for yourself.
Now that you know which credit card is the best for online shopping, it’s also vital to know the rules when owning one. Continue reading to understand the rules briefly.
Rules of Owning a Credit Card
1. Avoid Withdrawing Money from Credit Card
Nowadays, you often hear news about people who are unable to pay their credit card debt. Thus, to avoid burdening yourself with credit card debt, you should avoid withdrawing any money from your credit card. Even if you are in desperate need of money, you must recognise that withdrawing from your credit card will not solve the problem. Instead, you’ll face a bigger problem when you fail to pay back the debt in time.
2. Know Your Credit Card Well
As to what we mentioned, it’s crucial for you to know the difference in credit cards before getting one. Ensure that you have done complete research; only apply for the one that will truly benefit you in the long run.
3. Avoid Overspending
Here’s one rule you’ll always have to keep in mind – do not overspend! The problem which most credit cardholders have is that they think they can ‘afford’ anything when it’s the complete opposite! If you do not utilise your credit card properly, you might face terrible financial problems.
4. Pay on Time
It’s a basic rule, but many people take this rule lightly. Make sure you pay your credit card payment on time! To ensure that you won’t forget, we suggest setting a reminder on your phone’s calendar. If you do not make your payment on time, they will charge you a late payment fee. Meaning to say you’ll have to fork out a tremendous amount to pay back.
Well, that concludes it all! Hopefully, this article will be able to help you in choosing the best credit card, especially for those who are big fans of online shopping. Remember to do personal research on the cards and the affiliated banks before you decide to apply for one. Do head on to LokaPost for more finance-related articles!