There are reasons why credit cards often get a bad press. The most glaring reason is the fact that it makes spending so much easier, that people buy more than what they can afford and later get into debt. However, that does not mean that credit cards are a bad idea at all. When used decently, credit cards can be the best financial tool. One perfect example of how credit cards can be beneficial is the reward that companies provide their consumers, cash back for example.
What is the best cash back credit card in Malaysia? Selecting the best credit card can be a tedious process, especially if you are looking at the reward part. To help you with that, here are some things to take into consideration:
- Check if there is no cap on rebates. This means that you can get rewarded for all your expenditures without having to worry about limitations.
- Get one that automatically credits your rebate into your account. It should reflect on your monthly statement.
- Opt for the card that offers a high rebate and low or no annual fee. It would also help to apply where there is no annual fee. If you are a new customer, you can take advantage of some companies’ no annual fee offers for the first three years.
What are other things to think about? Other than these factors, take note that credit cards offer more rewards other than cash back. You can also benefit from the interest-free promotions and easy payment privileges exclusive to consumers. For example, you can take advantage of discounts on hotels and lodge if you are the type who often travels. Or if you are more concerned about healthcare, pick the one that offers discounts on dental or medical checkups.