{"id":18018,"date":"2019-10-30T20:00:00","date_gmt":"2019-10-30T12:00:00","guid":{"rendered":"https:\/\/www.comparehero.my\/blog\/uncategorized\/guide-rewards-credit-cards.html"},"modified":"2026-03-27T11:14:40","modified_gmt":"2026-03-27T03:14:40","slug":"guide-rewards-credit-cards","status":"publish","type":"post","link":"https:\/\/www.comparehero.my\/blog\/credit-cards\/guide-rewards-credit-cards.html","title":{"rendered":"Complete Guide to Rewards Credit Cards"},"content":{"rendered":"\n

What is A Rewards Credit Card? <\/strong><\/h2>\n

A rewards credit card<\/a> allows you to accumulate reward points with every purchase which you can then redeem for merchandise, vouchers, services or air miles. The redemption rate for reward points differs according to banks. In short, you save money in the form of reward points. <\/p>\n

How does a Rewards Credit Card work? <\/strong><\/h2>\n

To put it simply, a rewards credit card allows you to collect and accumulate reward points that can be redeemed for a range of benefits, such as merchandise, vouchers and discounts.<\/p>\n

Rewards points are credited to your account with every purchase you spend on your card. The value of each reward point varies between banks. For instance, UOB\u2019s Lady Mastercard<\/a> allows you to earn one UNIRinggit (point) for every RM1 charged to this card for any retail purchases.<\/p>\n

Rewards vs Air miles vs. Cashback <\/strong><\/h2>\n

Airmiles<\/a>, cashback<\/a> and reward credit cards<\/a> can be very different in terms of features and benefits.<\/p>\n

An air miles credit card rewards you with air miles for every ringgit you spend. The number of air miles you receive depends on the conversion rate of the bank. You can utilise your air miles to redeem free flights, free seat upgrades, access to travel lounges and more.<\/p>\n

A cashback credit card gives you a percentage of your money back, it is credited back to your credit card account at the end of your statement cycle. The amount of cashback you receive depends on the cashback rate of the bank. Essentially, you save money with a cashback card.<\/p>\n

Read also: Cashback credit card guide<\/a><\/strong><\/p>\n

Can I enjoy cashback with my reward credit cards?<\/strong><\/p>\n

Yes, some cards offer combined features of cashback and reward points. For example, you can enjoy 5% cashback for your grocery and petrol expenses while earning Maybank TreatPoints with a Maybank Gold 2 Card (Visa & Amex).<\/a><\/p>\n

Read more:<\/strong> Credit Cards: Cashback vs. Rewards<\/a><\/strong><\/p>\n

Can I earn air miles with a rewards credit card? <\/strong><\/p>\n

As for air miles, some cards also allow users to convert their reward points such as CIMB credit cards<\/a>, Maybank credit cards<\/a>, and Citibank credit cards<\/a> into air miles such as AirAsia BIG Points. However, the redemption value (amount of reward points to air miles) differs bank to bank.<\/p>\n

Applying for a rewards credit card <\/strong><\/h2>\n

What to consider when applying for a rewards credit card <\/strong><\/h3>\n

When it comes to applying for a rewards credit card, there are several questions you need to ask yourself before making a decision to make sure you get the best credit card<\/a> that suits your needs.<\/p>\n

    \n
  1. What is a reward multiplier?<\/strong><\/li>\n<\/ol>\n

    A reward multiplier is the number of points awarded to you per ringgit spent on the selected merchant. In short, you need to find out how much you need to spend to get every reward point on your credit card. For instance, a credit card\u2019s reward multiplier is 0.5 when you spend RM100 which means you get 50 rewards points. Hence, you should find out if it is easier or harder for you to earn points when you are choosing a reward credit card.<\/p>\n

      \n
    1. What is a reward redemption value?<\/strong><\/li>\n<\/ol>\n

      This differs across banks and the type of gifts you seek to redeem such as vouchers or electrical items. Basically, it translates into the value of your reward points after a redemption from the bank. For example, you can redeem a RM100 Jusco voucher with every 20,000 TreatPoints with your Maybank credit card. As a result, every 100 TreatPoints you redeem here is worth RM0.50.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
      \n

      Banks<\/strong><\/p>\n<\/td>\n

      		\n

      Points Required To Redeem Tesco Voucher RM100<\/strong><\/p>\n<\/td>\n<\/tr>\n

      \n

      HSBC<\/p>\n<\/td>\n

      		\n

      43,000<\/p>\n<\/td>\n<\/tr>\n

      \n

      Maybank<\/p>\n<\/td>\n

      		\n

      46,400<\/p>\n<\/td>\n<\/tr>\n

      \n

      Alliance Bank<\/p>\n<\/td>\n

      		\n

      42,800<\/p>\n<\/td>\n<\/tr>\n

      \n

      CIMB<\/p>\n<\/td>\n

      		\n

      47,000<\/p>\n<\/td>\n<\/tr>\n

      \n

      UOB<\/p>\n<\/td>\n

      		\n

      40,000<\/p>\n<\/td>\n<\/tr>\n

      \n

      Hong Leong<\/p>\n<\/td>\n

      		\n

      46,000<\/p>\n<\/td>\n<\/tr>\n

      \n

      Standard Chartered<\/p>\n<\/td>\n

      		\n

      86,000<\/p>\n<\/td>\n<\/tr>\n

      \n

      Public Bank<\/p>\n<\/td>\n

      		\n

      54,500<\/p>\n<\/td>\n<\/tr>\n

      \n

      RHB<\/p>\n<\/td>\n

      		\n

      45,600<\/p>\n<\/td>\n<\/tr>\n

      \n

      Affin Bank<\/p>\n<\/td>\n

      		\n

      26,000<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

      Thus, you should also find out whether you get the best out of your reward points with the credit card before choosing one.<\/p>\n

        \n
      1. Which bank gives me the most rewards value?<\/strong><\/li>\n<\/ol>\n

        Every bank has a partnership with different types of merchants and offers exclusive deals for cardholders. Before choosing a rewards credit card, you can look at the bank\u2019s partner merchants such as grocery stores, petrol stations, airline operators, restaurants, online shopping stores, utility brands and more. For example, you can earn 8X rewards points at selected malls with an HSBC Visa Platinum Card<\/a><\/strong> and accumulate your rewards points faster than others.<\/p>\n

          \n
        1. What can I redeem with my rewards points?<\/strong><\/li>\n<\/ol>\n

          Most banks offer a wide range of choices for cardholders when it comes to the redemption of rewards points. You should be able to choose from electronic gadgets, electrical items, travel accessories, bags, kitchen wares, branded accessories, vouchers, air miles (such as AirAsia BIG Points and Enrich Miles), and outdoor gadgets. Hence, always request to look at their catalogue for redemption before choosing a rewards credit card to know if you are interested in their offerings.<\/p>\n

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          Check out the list of catalogues for credit card rewards points redemption from each bank here:<\/p>\n