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There are over 8 million credit cards in circulation in Malaysia to date and each one comes with its own rewards and rebate scheme. Unfortunately, millions of ringgit in rebates and benefits go unclaimed each year, simply because majority of card holders don’t actually know that they have these perks. If you’re looking for ways to maximize the way you spend with your credit card, and you want to get the best out of every swipe you make, be sure to take note of these 5 tips for making the most of your credit card rebates and rewards.1

  1. Check Restrictions – There are lots of different kinds of credit cards available, and the best ones are those that don’t restrict when and where you should be able to redeem whatever points and rebates you’ve accumulated. If you’re using a credit card in Malaysia with cash back rebates, be sure to look into the fine print. Learn more about the redemption procedure, and by all means, skip out on cards that will restrict you from redeeming at your own convenience.2
  2. Know When to Get a Card – Some credit cards offer attractive sign-up bonuses that you can redeem within a certain period of time. The only catch here is that to be able to get your hands on the reward, you should spend a minimum amount using your credit card within the first few months of getting it. Before you get a new credit card, be sure to choose a date when you expect to make a lot of purchases, like the holidays, so you can guarantee to reach the minimum spending requirement.3
  3. Use More Than One – According to financial experts, it’s always better to use at least three or four different credit cards instead of sticking to just one. This way, you can choose which card to use to help you maximize the benefits of specific purchases. For instance, some credit cards offer bigger points when used for buying gas, so using that specific card for fueling up will give you more rewards compared to other options.4
  4. Keep an Eye Out for Promotions – To encourage consumer spending, some cards provide holders with bonus offers that they can redeem for a limited time only. For example, there have been some promotional offers that will grant up to 2% more rebates on purchases made at specific stores for a certain period of time. Going on a shopping spree will then help increase rewards and grant bigger cash backs for bigger savings.5
  5. Shop Online – Before you go shopping at your favorite online store, be sure to check your card’s website and find out if they offer special rebates for purchases made through links they provide. By making transactions through your card’s provided website or links, you can get more rebates and increase your cash back rate to reduce your overall spending. Make sure you check all your options and do some research before buying online – some websites offer better deals for credit card purchases than others.

Are you getting the most of your cash backs, rebates, and rewards? Make every credit card swipe count, and keep these tips in mind the next time you pay with plastic. Maximize your money’s worth and get the best out of your credit card with these pro tips.