Types of Credit Card

There are 4 main types of credit card offered in the market:

1. Cash Rebate

You can get cash rebate for retail transactions through this type of cards. These cards are most popular nowadays as it is a high inflation era. Packages offered are very attractive, eg. retail purchases including petrol filling and bill payment can get up to 5% cash rebate.

2. Reward Points

This is the conventional type of credit cards in which every ringgit spent will be entitled for a reward point and can be used to redeem goodies in the reward catalog. The points will usually expire in 3 years' time. However, there are a few banks such as Maybank and Citibank that offer evergreen points. The points will remain as long as the card is active.

3. Travel

This is the type of cards for people who travel frequently. Every ringgit spent can be used for air miles redemption. Card holders can get special discount on flight tickets and free travel insurance for flight tickets charged to the cards.

4. Branded

The bank collaborates with certain companies to launch a specific credit card which card holders can enjoy exclusive discounts and privileges when swipe the cards in that companies. Examples of card are Citibank Giant Card and RHB Tesco Card.