5 Awesome Credit Cards For e-Wallet Users

• By CompareHero.my
• June 16, 2022

Forget cash. With our new normal over the last two years, e-Wallets and debit/credit cards are king these days.

Well, why wouldn’t they be? They make payments simpler, quicker, and even more hygienic.

If you own a credit card, being an e-Wallet user also allows you to double dip on rewards easily. All you have to do is use your credit card to top-up your e-Wallets, and your credit card provider will reward you with perks that come with your credit card, which usually is either cashback or reward points. After this, you might even reap the benefits offered by the e-Wallet provider as well!

However, while many are enjoying this perfect loophole, the banks sure aren’t. Naturally, they’ve caught on to this and have even begun revising their terms, adding a cap on the cashback received through e-Wallet top-ups. Some banks have even revoked their cashback benefits for e-Wallet reloads using credit cards.

Therefore, it is incredibly important to make sure you’re using the right credit card for your spending habits.

Now for the question on the top of everybody’s mind: which credit cards can we still use to top-up our e-Wallet balance while earning cashback and reward points at the same time?

From cashback cards to air miles cards, we’ve got you covered with our list below.

1. Standard Chartered Just One Platinum Card

• Cashback: 15% cashback on e-Wallet top-ups, groceries, petrol, and e-Market Place transactions. (capped at RM60/month)
• Enjoy movie tickets at Golden Screen Cinemas from RM10
• Purchase protection up to USD200 when you shop online
• Minimum monthly income requirements: RM36,000/year or RM3,000/month
• Annual fee: RM250 (waived for the first year)

2. HSBC Amanah MPower Visa Platinum Credit Card-i

• Cashback: 8% cashback on e-Wallet top-ups, groceries, and petrol transactions. (capped at RM15/month)
• Comes with purchase protection
• Minimum monthly income requirements: RM36,000/year or RM3,000/month
• Annual fee: RM240 (waived for cardholders who make 12x transaction in the first year)

3. Public Bank Visa Signature

• Cashback: 6% cashback on online, groceries, and dining transactions. (capped at RM38/month)
• 1 VIP Point for every RM1 spend on other retail transactions
• 2X access to Plaza Premium Lounges in Malaysia
• Up to RM500,000 travel insurance
• Minimum monthly income requirements: RM80,000/year or RM6,667/month
• Annual fee: RM388

4. Citibank Cash Back Card

• Cashback: 10% cashback on Grab wallet top-ups, groceries, petrol, and dining transactions when you meet the minimum monthly total spend
• Unlimited 0.2 cashback on other retail spend
• Cashback automatically credited into your account
• Minimum monthly income requirements: RM36,000/year or RM3,000/month
• Annual fee: RM120

5. HSBC Visa Signature

• Cardholders can earn reward points, which can be converted into Air Miles
• 8X Reward Points for overseas and online transactions made with foreign currencies
• 5X Reward Points for transactions made in local malls and online payments (RM)
• 1x Reward Point for other transactions
• 30% off redemption on online vouchers (Lazada, Agoda, AirAsia)
• 6X complimentary access to Plaza Premium Lounges KLIA, Singapore Changi Airport, and Hong Kong International Airport
• Minimum monthly income requirements: RM72,000/year or RM6,000/month
• Annual fee: RM600(waived for cardholders who make 12x transaction in the first year)

Which of these cards would you go for? Apply for one now with CompareHero.my!

Celebrate World Cup 2022 with Bank Islam’s Limited Edition Visa FIFA-Themed Credit Card-i

• By Dharshaini Grace
• June 15, 2022

Here’s some exciting news for all you football fans – Bank Islam Malaysia Bhd in partnership with Visa is celebrating the world’s biggest sporting event with a Limited Edition Visa FIFA-Themed Credit Card-i and it’s limited to only 10,000 units! 

Applicable for both new and existing customers, this special campaign organised by Bank Islam will not only get you this classy card face that features the iconic FIFA World Cup trophy, but cardholders will also stand a chance to win a once-in-a-lifetime experience to travel to Qatar and watch a live FIFA World Cup match, courtesy of Visa. This include match tickets and round-trip flight tickets for two, hospitality and a cash prize of RM10,000! 

There’s also attractive monthly consolation prizes consisting of limited-edition FIFA World Cup 2022 merchandise, cashback and sports vouchers. 

Earn entries to the campaign by applying and activating the limited-edition card or collect entries by spending a minimum of RM200 on a single receipt using the card during the campaign period, which is between 15 June until 30 September 2022. 

The Visa FIFA-Themed Credit Card-i also includes free takaful coverage for outstanding balance and TruPoints reward for every RM1 spend and with a minimum of 12 transactions per annum, you’ll be eligible for an annual fee waiver. 

“The Limited-Edition Visa FIFA-Themed Credit Card-i is a lifestyle card that offers various benefits specially curated for card members, from shopping to travels, culinary and entertainment, offering cardmembers a unique and valuable banking experience. Developed with football fans in mind, especially the young and newly employed, Bank Islam targets to acquire 10,000 new Limited-Edition Visa FIFA-Themed Credit Card-i cardmembers,” said Mizan Masram, Bank Islam’s Group Chief Business Officer (Retail). 

While Mr. Ng Kong Boon, Visa Country Manager for Malaysia said, “As the Official Payments Services Partner for FIFA World Cup Qatar 2022, we are pleased to partner with Bank Islam to create this FIFA-themed limited credit card and reward our cardmembers with an amazing experience to watch this global sporting event through the campaign. We hope that Malaysians will make use of this wonderful opportunity by applying for this card and stand a chance to win tickets to watch a live World Cup match in Qatar and attractive FIFA-related merchandise.”

For more information on Bank Islam’s Limited-Edition Visa FIFA-Themed Credit Card-i, click here. 

5 self-care activities you can do in Klang Valley with RM100

• By adji.hendrawan
• June 14, 2022

Most of us do not have the capacity to practice self-care regularly as we are caught up with work, study and family responsibilities. This will lead to depression, distractibility, fatigue and anger. Make time for self-care so you can maintain a healthy mind and body. 

Have you taken time for yourself lately? 

If you haven’t, let’s step up your self-care game with any of these 5 self-care activities you can do in Klang Valley with RM100!

Book a therapy session at the Malaysian Mental Health Association (MMHA)

Are you constantly feeling anxious, depressed or unhappy? Let the therapist at the Malaysian Mental Health Association (MMHA) help you! 

The non-profit voluntary organisation was founded in 1967 by a group of mental health professionals and community leaders from the University of Malaya Medical Centre. Aiming to promote mental health awareness, MMHA provides affordable therapy sessions for the public. 

For only RM50 per session (each session lasts around 30 minutes), you can get help from the trainee counsellors. For more information, call +603 2780 6803.

Refer to this list if you’re looking for affordable mental health services in Malaysia.

Calm your mind and body with yoga

If you’re looking for a low-impact workout, try yoga! Yoga will not only help you to manage stress, but you will also notice a significant improvement in sleep quality and flexibility when you practice it regularly. 

Located in TTDI, Nafas Yoga offers a wide range of yoga classes such as flow classes which focus on connecting your breathing, movement and alignment through fun sequences.

For first-time customers, you can enjoy unlimited classes for one week at only RM100. Find out more about Nafas Yoga, here.

Treat yourself to a foot massage at Thai Odyssey

Foot massage is proven to reduce tension, ease pain and improve circulation. Head over to any of the Thai Odyssey branches to enjoy authentic Thai foot massage from their trained therapists. 

As you step into the massage parlour, the tranquil ambience will help you to relax. A foot massage session will normally begin with a brief foot scrub to remove dead skin cells. During the massage, make sure to switch off your phone and simply enjoy!

There are more than 10 branches of Thai Odyssey in Klang Valley so make sure you check their website to locate the nearest branch to you.

Price List: 

RM66 for 30 minutes 

RM76 for 45 minutes

RM83 for 60 minutes

Unwind at Purradise Cat Cafe

Leave all your worries at home and spend some time with furry friends at Purradise Cat Cafe located in TTDI. At only RM21 for an hour session, you get to enjoy one complimentary beverage and therapeutic moments with their friendly cats.

Home to about 20 fur babies, you can also purchase an unlimited daily pass at RM59 per person and not worry about the time limit!

Visit the Purradise Cat Cafe site for more information.

Pack your overnight bag and check-in at The Bed KLCC

Having a routine can be helpful, especially in times of unpredictability. However many of us tend to feel unproductive after following the same routine for some time.

To break your daily routine, try doing something new. Pack your overnight bag and head over to The Bed KLCC. The Insta-friendly hotel is situated in the heart of Kuala Lumpur and equipped with basic and clean necessities. Each pod comes with a table for writing or laptop use, personal reading light, hangers and a clothes rack, a towel and a personal power socket. 

If you want to make new friends during your stay, you can choose the single pod in a shared room and a private single room is also available if you just want some alone time.

Find out where you can get the best travel deals, here.

Price list:

Single pod in a shared room: from RM79

Private single room: from RM100

Self-care is all about paying attention to what your body needs the most. Make sure you take the time to be attentive to what your body needs to be the best version of yourself!

How to get into investing in REIT

• By CompareHero.my
• June 10, 2022

If you’re in your 20s or 30s, you’ve probably heard enough of “just save up and invest in properties lah” from your elders.

However, for most people, getting into property investment is a pipe dream, especially with homes costing a bomb these days. Many Malaysians are unable to afford a home to live in as is, let alone for investment. So, is there really an alternative way for a regular Joe in Malaysia to invest in properties?

Yes there is: REITs!

What are REITs?

Short for real estate investment trust, REIT provides the opportunity to many small-time investors to pool their funds together to invest in properties, such as commercial buildings, hotels, malls, and more at a very affordable price.

What separates REITs from investing in traditional real estate is that you can buy REITs on the stock exchange, just like regular stocks. Therefore, investors can enjoy diversifying their investment portfolio without being held down on a long-term basis. In addition, REITs shares are incredibly easy to liquidate as they can be bought and sold quickly.

With all the investors pooling their capital together, REITs allow normal people to purchase real estate that wouldn’t usually be able to afford e.g. commercial, industrial, and retail properties.

How does investing in REITs work?

First off, you start by buying a minimum of 100 shares on Bursa Malaysia. REITs are perfect for beginner investors as anybody can give it a go. If we just take a look at Amanah Harta Tanah PNB (AHP) REIT, where 1 unit costs RM0.75 on Bursa Malaysia, purchasing 100 shares would make your investment capital only RM75!

What are your options, you ask? Allow us to show you all 18 REITs listed on Bursa Malaysia:

Other than the low investment capital needed, why should I invest in REIT?

• REITs are managed by professionals

As mentioned above, everybody can get into REIT, and we meant it. When investing in REITs, your investment will be completely managed by professionals, leaving you to sit back and enjoy the fruits of your labour.

Unlike investing in a physical property, REIT management teams manage the tenants and the upkeep of the properties, so say goodbye to difficult tenants, home loans, house hunting – the works.

• Low risk, high reward

Since REIT distributes at least 90% of its earnings to unitholders, the dividends enjoyed by investors are between 5% to 7% with payouts made every 3 months of twice a year, depending on the REIT fund manager – much higher than most rental properties where the return is typically only between 3% to 5%.

The returns from REITs are also much less volatile compared to other markets as REIT uses property rentals as its main source of dividend yields. Thus, as long as the properties you invest in has tenants, dividend rates will remain stable. However, do keep in mind that unlike fixed deposits, REITs do come with its own risks and returns are not guaranteed, so be sure to do your research!

How do you get your payout?

As REITs are listed on Bursa Malaysia and has high liquidity, you do not have to endure tons of procedures and suffer through a long wait to convert your assets into cash. Unlike investing in a house, REIT shares can be converted into cash in less than a day. All you have to do is click on ‘sell’ on an online trading platform and the amount based on the number of REIT units sold will be credited right into your account!

How do I invest in REITs in Malaysia?

Let us show you 4 simple steps to kick off your REIT investing journey:

Step 1: Select a brokerage firm

You can make your decision buy browsing the Bursa Malaysia website. From there, you’ll be able to make your choice based on the brokerage fee, ease of transaction, whether it is Syariah-compliant, and how user-friendly the online trading platform is.

Step 2: Open a trading account and CDS account with your broker

Once you’re done selecting a broker, just meet up with your broker to open these account. You’ll then be asked to provided documentations, such as copies of your IC, bank account statements, and more.

Step 3: Add funds into your trading account

After waiting a few days to gain access to your newly-activated account, just put funds into the online trading platform based on your financial ability.

Step 4: Start investing!

Now that you’re set to go with funds in your trading account, you may start buying and selling shares on Bursa Malaysia!

Good luck on your REIT journey, folks!

Should you pay for your daily expenses with Cash or Credit Card?

• By adji.hendrawan
• June 8, 2022

Cash or credit card? What is the best payment method for your daily expenses like groceries, transportation and food?

There is no right or wrong answer here. It’s about which payment method will benefit you more! Here are a few factors to consider before deciding whether you should be paying your daily expenses with cash or credit card:

Use cash if you’re an impulsive shopper

Notice how you always purchase something you didn’t plan? That could be one of the signs that you’re an impulsive shopper!

However, some brands go out of their way to make sure you make impulse purchases when you shop with them. Simple tactics such as a well-positioned checkout area and sleek packaging work charms for walk-in customers. 

We cannot do anything to stop these marketing strategies but we can control ourselves! 

The next time you’re going for groceries shopping, try to plan your purchases and stick to your shopping list. Leave your credit cards at home and use cash to pay.

Bring just enough cash so you won’t be tempted to put extra things in your trolley. Paying with cash will allow you to have more control of your expenses.

Learn how to control your impulse buying habit, here.

Use a credit card if you want to take advantage of the perks and rewards

Do you know if you pay with Citi Cash Back Credit Card you can earn up to 10% cashback on petrol, groceries and dining? YES, financially literate people use credit cards as one of the financial tools to earn perks and rewards!

Here are a few tips before you apply for any credit card: 

• Make sure you understand what you’re getting into and,
• Apply for the one that suits your lifestyle as there are all sorts of rewards, cashback, points and freebies that you can enjoy.

More tips, here.

Use cash if you want to avoid credit card fees

When you’re planning to use a credit card, you need to be aware of all the fees, such as cash advance withdrawal charges, foreign transaction fees, interest rates and annual fees. These charges are hefty and can break you in the long run if you fail to take control of your finances.

To avoid interest and late payment charges, make sure you pay your due in full and on time.

Use a credit card to build credit

One of the reasons people get involved with credit cards is to build credit. 

A credit score is a number between 300-850 that represents your creditworthiness and how likely you are to repay debt. This score is important when applying for a loan from a bank, whether it be a housing loan, a car loan or even a personal loan. The higher the score, the more likely a bank is to put their trust in you, thus giving you a higher chance of getting your loan application approved.

If you’re planning to apply for a loan soon but you have no credit history, a credit card might be one of the best options to start building your credit provided you can manage your money well. 

Using it on daily expenses such as groceries and food is a good start! Want to learn more about building credit? Read the Ultimate Guide To Credit Scores.

Use cash if you want more privacy

Notice how in crime movies, criminals use cash to make it harder to track them? It works!

Use cash to protect your personal information from security breaches and marketing purposes. Retailers are less likely to ask for your email and phone number when you pay with cash.

Use a credit card with purchase protection for peace of mind

Certain credit cards offer insurance features which include purchase protection for purchases made with the credit card. 

A purchase protection plan offers coverage against theft or accidental damage. However, this feature depends on the credit card issuer, for example:

• HSBC Amanah MPower Visa Platinum Credit Card-i offers up to 8% bonus cash back on eWallet spend, petrol, and groceries protected by E-Commerce Purchase Protection.
• CIMB Enrich World Elite Credit Card offers e-Commerce protection of up to USD1,000 worldwide coverage for all your online purchases. 
• Standard Chartered WorldMiles World Mastercard offers e-Commerce purchase protection of up to USD200 for online purchases.

Each payment method comes with its own benefits and drawbacks. At the end of the day, you know yourself best, so be sure to only make the decision after taking both points into consideration.

Always find out as much information as you can when it involves your finances to make better decisions!