There are many different cashback credit cards available in Malaysia, so it's important to choose one that's right for you. Let’s explore the top credit cards that offer fantastic cashback rewards for grocery spending.
Best Cashback Credit Cards For Groceries In 2023
Cashback credit card |
Grocery cashback rate |
Minimum monthly spend |
Annual fee |
Participating merchants |
Other perks |
5% at AEON BiG |
None |
RM95 |
AEON stores |
Cashback at All petrol stations, complimentary access to Plaza Premium Lounge and up to RM200,000 travel insurance coverage |
|
5% Capped at RM10 per month |
RM2,500 and above |
None |
Giant, Hero Hypermarket, Jaya Grocer, Lotus's, Mercato Centrale |
Cashback at all petrol stations, 0% for up to 36 months instalment plans |
|
15% |
RM2,500 and above |
RM 250 |
AEON, AEON BIG, Ben’s Independent Grocer, Cold Storage, ECONSAVE, Everrise, Giant, Jaya Grocer, and more |
Cashback on petrol, e-wallet and dining |
|
5% |
No |
RM 550 (Waived in the first year, subsequent years waived with minimum spend of RM 30,000) |
Jaya Grocer, Lotus, Mydin, NSK |
Earn TreatsPoints on selected spending and convert it to cash, up to RM2million travel insurance coverage |
|
1% on weekdays Capped at RM15 |
RM500 |
RM98 |
AEON Stores, Ben’s Grocer, Cold Storage, |
Cashback at all petrol stations, dining and online spend. |
Related: Cashback Credit Card Guide
Criteria for Choosing a Groceries Cashback Credit Card
To determine which credit card is better based on cashback rates for grocery spending, follow these steps:
- Identify Your Grocery Spending
Determine your typical monthly or yearly grocery expenses. This will serve as the basis for your cashback calculations.
- Do the Math
Calculate the cashback you would earn with each card based on your estimated grocery spending. Multiply the cashback rate by your grocery expenses to find out how much cashback you can expect to earn. For example, if you spend RM500 on groceries and the card offers 5% cashback, you would earn RM25 in cashback for that spending.
- Consider Any Caps or Limits
Be aware of any cashback caps or limits imposed by the cards. Some cards may limit the amount of cashback you can earn in a month or during a specific period. Take this into account when calculating your potential earnings.
- Factor in Annual Fees
Consider any annual fees associated with the cards. Subtract these fees from your calculated cashback earnings to determine your net cashback. If the card offers high cashback but has a substantial annual fee, it may not be as advantageous as a card with slightly lower cashback and no annual fee.
- Review Other Benefits
Beyond cashback rates, evaluate the additional benefits offered by the cards, such as discounts, rewards, and insurance coverage. These can enhance the overall value of the card.
- Consider Your Overall Spending
Think about your spending habits beyond just groceries. Some cards offer cashback for various categories like dining, utilities, and entertainment. If you spend in these categories too, a card with a broader cashback program might be a better choice.