Reward points for credit cards explained
Reward points on credit cards refer to points that are accumulated whenever the credit card is used,either domestically or internationally. These points are usually awarded across all categories of spend (except government services and petrol in some cases, as well as internal bank charges; check with the credit card issuer for more details). The issuer will then allow the points to be redeemed against a catalogue (or for cashback on your next statement, depending on the issuer) for merchandise or in some cases, airmiles.
Usually, reward points on your credit card(s) are awarded one-for- one; i.e. every RM1 spent gives you 1 point. Sometimes, issuers will give you bonus points for certain types of spend. Most reward points have expiry dates, by which time you must use them or lose them. Redemption costs differ from issuer to issuer. Reward points are one type of incentive scheme, and are usually given in lieu of cashback.
If reward points on your credit card is the right choice for you, then head on over to GoBear Malaysia’s credit card comparison services to begin picking your preferred card.
Why compare at GoBear?
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