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Saving and Investing towards Financial Independence in Malaysia

Financial/Life Hacks

Best credit cards in Malaysia: Earn cashback & air miles with a hybrid strategy

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Filed Under: Credit Cards, FI/RE, Financial Independence, Financial/Life Hacks 22

In today’s fast-paced financial world, choosing the best credit cards can mean unlocking rewards that not only ease your everyday expenses but also pave the way for your dream travel destinations. I personally think that credit cards are a great companion in one’s financial journey. You just have to make sure that you make prompt and punctual payments every month. You do not want to pay the 18% p.a. interest that comes with late payments.

If you struggle with self-discipline and all you see in a new credit card is more spending, there is no need to read on. Stick with your debit card, e-wallets and cash. However, if like me, you see credit cards as a smart way to defer payments and enjoy a month of interest-free benefits, then keep reading!

A small note is that ALL credit cards are charged RM25 SST by the government per card. This is a given and there are no two ways about it.

My credit card strategy – RM7K+ spending a month

I spend about RM7,000 a month on my credit cards, and after plenty of trial and error, I’ve built a hybrid strategy that really works for me. It’s a mix of cashback and rewards cards that cover all the main spending categories – from weekend petrol runs and online shopping to insurance payments and e-wallet reloads.

Hopefully, it’ll give you some idea(s) to tweak your own strategy and get more value from your cards too.

  1. Maybank 2 platinum cards AMEX – 5% cashback (RM1,000 weekend spending)
    Petrol, accommodation, telco, Grab (weekends only)
  2. Maybank Islamic Ikhwan American Express Platinum Card-i – 8% cashback (RM625 spending)
    Government transactions and online spending – Lazada, Shopee
  3. CIMB Visa Infinite – Bonus points when you reach RM5,000 spending per month.
    Main/filler card. I consolidate the bulk of my spending here. And when I hit RM5K per month, I get additional bonus points.
  4. CIMB Preferred Visa Infinite – Bonus points when you reach RM10,000 spending per month.
    I don’t spend RM10K per month. I just keep this card for the superior lounge benefits!
  5. Alliance Bank Virtual Visa Platinum – I use this to top RM3K into my e-wallet. Shopee Pay mostly and TnG (1% fee). Maxing this out every month can net me a round trip to nearby countries once a year – think Thailand, Singapore or Indonesia.

I have more details on the above 5 cards I use, and more down below. Feel free to customise and pick the best cards for yourself.

The best way to earn and rack up credit card points WITHOUT going into debt

Let me emphasize that you should not be looking to get too many cards and you should ALWAYS pay your credit card debt on time. You should all know that credit card’s late payment interest is the highest, which is why you settle them first.

The best way to rack up credit card points without going into debt is to treat your credit card like a debit card and only spend what you can afford to pay off in full each month.

Here’s how you can maximize points while staying financially responsible, remember these 10 golden rules:

1. Use your Credit Card for everyday expenses

  • Use your credit card for expenses you would have paid in cash or with a debit card anyway.
  • e.g. Pay for groceries, dining, petrol, utilities, and subscriptions with your credit card.

2. Always pay in full and on time

  • Avoid interest charges by paying your balance in full before the due date.
  • A good idea is to set up auto payments to avoid late fees.

3. Optimize bonus categories

  • Choose a card that rewards your spending habits (e.g., cashback and air miles – more on this strategy later).
  • Some cards offer 5X points on dining and travel while others focus on cashback for shopping or fuel.

4. Stack rewards and promotions

  • Use credit card promos, cashback apps, and e-wallets to double-dip on rewards.
  • Pay via ShopeePay, GrabPay, or Boost if they offer extra points for top-ups (e.g. Alliance Visa Infinite, Affin DUO Visa)

5. Take advantage of welcome bonuses

  • Many cards offer sign-up bonuses if you hit a spending target within the first few months.
  • If you were planning a big purchase, time it with a new card application. Look no further than websites like RinggitPlus and CompareHero.

6. Pay bills and large purchases with your card

  • Consider using your card for insurance, rent, or tuition fees, if there are no extra fees.
  • Some banks allow you to earn points when paying government bills via their online portals.

7. Use supplementary cards wisely

  • If you have family members, get them supplementary cards to earn points faster.
  • Ensure they follow the same pay-in-full policy to avoid unnecessary debt.

8. Convert points into valuable rewards

  • Redeem points for air miles, cashback, or travel perks (make sure you do the math and not just redeem random RM10 vouchers).
  • Some cards allow you to transfer points to airline or hotel loyalty programs for better value.

9. Be strategic with multiple cards

  • Use different cards for different spending categories (e.g., one for travel, one for dining).
  • Ensure you track your spending so you don’t overspend chasing points.

10. Avoid cash advances & unnecessary fees

  • Never withdraw cash as an advance from your credit card—it incurs high interest and fees.
  • Be mindful of annual fees and only pay if the perks outweigh the cost.

A sidenote – Maybank 2 Cards Premier AMEX Reserve is the worst card to have now

I’ve spent the past week researching ways to restructure my finances and optimize my credit card usage. I talked about my Maybank 2 Cards Premier previously here and even touted the cards as the best card for air miles.

They’ve since fallen from grace and are not worth it anymore. If you did not already know, Maybank has recently implemented a shared monthly quota of 100 million air miles across the board for ALL their users. The quota is often exhausted within minutes of the new month. This is ridiculous and no one is happy about staying up on the 31st and waiting for the clock to strike midnight to convert their friggin miles.

I foresee Maybank slowly increasing the 100 million point cap but it may be too late as everyone I know has moved to greener pastures. We’ll get to which card would be best for air miles in a bit, but let’s talk about cashback first as I believe that should be a priority.

The hybrid approach – Comparing the best credit cards for cashback and air miles

We will look at a few criteria for credit cards.

  1. Annual fee and waiver requirement
  2. Income requirement (no exorbitant invite-only cards for the ultra-rich etc)
  3. Cashback rate and point conversion rate
  4. Lounge access and travel insurance
  5. Recommended way to use said card and other terms and conditions

The best credit cards in Malaysia for Cashback

Maybank 2 Gold/Platinum Cards Review – Best Maybank Credit Card

Maybank 2 cards platinum/gold - Amex and Mastercard/Visa

Link to apply

Annual fee: Free for life
Income requirement: RM30,000 (gold) or RM60,000 (platinum) p.a.
Cashback rate: 5% (RM50 monthly cap)
Point conversion rate: 5x TreatsPoints for spending with AMEX, 1x TreatsPoints for spending with Visa/Master
Travel insurance: Coverage of up to RM700,000 when you charge your travel tickets in full (make sure to read the terms of the insurance in full and what it covers specifically)

Alright, so this one here has always been the OG and holy grail of cashback credit cards. Maybank 2 Gold Card is often considered the best entry-level credit card here in Malaysia. Also, there is no difference between the Gold and Platinum other than the fact that you get a higher credit limit with the Platinum. You get two cards from Maybank here – 1x AMEX and 1x Visa/Mastercard. We’ll mostly be looking at the AMEX card as it gives you the cashback and most points.

Previously, there have been cases where cardholders only activated their AMEX and left their Visa/Master dormant to avoid paying the RM25 SST on both cards. And as of 2018, we are unable to do this anymore.

“If the card is not activated within 3 months, the Service Tax will be imposed on the 3rd month.”

best credit cards in malaysia Maybank 2 cards AMEX SST

So be prepared to pay RM50 in SST to the government for both cards. Fret not though, read on and you’ll realise that the benefits outweigh the RM50 charge.

First and foremost, Maybank does not charge you any fees for both cards, it is free for life without any conditions. I plan to keep this card for life and never cancel it unless Maybank starts messing around with the fees or cashback.

With the Maybank 2 Cards AMEX, you get a guaranteed 5% cashback and 5X TreatsPoints.
A few things to note:

  • You get the 5% cashback only on weekends
  • There is a cap of RM50 per month. This means a maximum spending of RM1,000 per month.
  • You get 5X TreatsPoints if you use it during weekdays
  • No cash back for transactions related to government, utility bills and eWallets top-up.

I plan to use the AMEX for the following expenses:

  • Petrol (Petronas)
  • Accommodation (hotels, Airbnb etc)
  • Telco (CelcomDigi)
  • Grab food – pay direct instead of top up to GrabPay

Of course, I’ll do my best to swipe the AMEX only on weekends for the cashback. The above expenses should get me to RM1,000 spend every month to get RM50 in cashback. Get used to asking every cashier and merchant you meet – “Do you accept AMEX?”
You’ll be surprised that many actually do.

Maybank Islamic Ikhwan American Express Platinum Card-i Review

Maybank Islamic Amex Ikhwan Platinum

Link to apply

Annual fee: Free for life
Income requirement: RM40,000 p.a.
Cashback rate: 8% (RM50 monthly cap, RM100 cap for Ramadhan and Syawal months)
Point conversion rate: 1X TreatsPoints for Gov Utilities, Education etc. (see below image)

best credit cards in malaysia Maybank Islamic Ikhwan AMEX Platinum Card-i

This is an excellent card for ONLINE spending. You get 8% cashback with a cap of RM50 per month (RM100 on Ramadhan and Syawal months). It is free for life as well.

I use this solely for online transactions – Shopee, Lazada, Grab and any online transactions. Make sure you’re using the AMEX as a payment method and not to top up. I’ll be using the previously mentioned Maybank 2 Cards AMEX for over-the-counter transactions and then Ikhwan AMEX for online ones. The monthly spending cap is just RM625 per month to reach RM50 in cashback.

We’ll focus solely on the card’s cashback prowess and set aside TreatsPoints, which fall short compared to those offered by the Maybank 2 Card AMEX. However, if you have sizable government bills, the Ikhwan AMEX provides 1X TreatsPoints for government transactions – making it a smart choice for those specific payments.

Maybank credit card rejected?

Having trouble getting your Maybank card approved? If, like me, you’re having issues getting your Maybank card approved, try the following:

Try applying online via Maybank2u

First, try the easiest way – apply online via Maybank’s official site.

Maybank card centres

If you’re having trouble getting past the online application, try the physical approach. I’d suggest heading over to one of their card centres.

Already have conventional cards? Try emailing them to split your credit limit.

Now, this is where I was stuck. I tried every available method, even went to 2 card centres and got rejected. I already had Maybank 2 Cards with a RM40K credit limit. I was applying for Maybank Islamic AMEX Ikhwan Platinum but kept getting rejected because apparently I’ve hit my total limit with Maybank.

The solution – email them ([email protected]) requesting to split the credit limit between Maybank and Maybank Islamic. In my case – RM30K Conventional and RM10K for Islamic. And in your email, let them know which card you’re applying for as well.

It was a tedious process but I managed to get my card within a month and I hope this will help you as well.

AFFIN DUO Visa Cash Back Review

best credit cards in malaysia AFFIN DUO Visa Cash Back

Link to apply

Annual fee: Free for the first 3 years. (RM75, subsequently waived with 12 retail transactions)
Income requirement: RM24,000 p.a.
Cashback rate: 3% (RM30 monthly cap)
Point conversion rate: Not worth looking into

Look at the t&c and you’ll find that this is the card that gives you cashback for e-wallet top-ups! And we’ll be opting for the Visa Duo and not the Mastercard.

Since I won’t be spending heavily on this card, I’ll only qualify for the RM30 monthly cashback instead of RM50—which requires a minimum spend of RM3,000. I’ll primarily use the card for e-wallet top-ups (which will yield a net gain) and for my monthly insurance auto billing. Together, these transactions should total RM1,000, hitting the RM30 monthly cashback cap.

UOB ONE Card Review

best credit cards in malaysia UOB ONE Card

Link to apply

Annual fee: Free for the first year. (RM120 subsequently years)
Income requirement: RM24,000 p.a.
Cashback rate: up to 10% (RM10 monthly cap per category)
Point conversion rate: Not worth looking into

One of the best credit cards out there, the UOB ONE Card has a few categories eligible for 10% cashback, with a monthly cap of RM10 for each category. You’ve got to hit >RM500 minimum spend per month to qualify. Categories include:

  • Petrol – 10% cashback
  • Groceries – 10% cashback
  • Dining – 10% cashback
  • Grab – 10% cashback
  • Other Retail Spend – 0.2% cashback

Note: There is a higher tier card called UOB ONE Platinum Card which has a higher cashback cap of RM15 per month and monthly minimum spend of >RM1,500. The income requirement is RM60,000 p.a.

RHB Shell Visa Card Review

best credit cards in malaysia RHB Shell Visa Credit Card

Link to apply

Annual fee: Free for the first year. (RM195, subsequently waived with 24 swipes)
Income requirement: RM24,000 p.a.
Cashback rate: up to 12% (RM50 monthly cap per category)
Point conversion rate: Not worth looking into

If your go-to petrol station in Malaysia is Shell, then this is one of the best credit cards for you. With a monthly spend of >RM2,500 on your card, you get a maximum of 12% cashback (RM50 monthly cap). Spending RM417 on your petrol per month would get you to the RM50 cap.

Hitting >RM2,500 monthly spend, you also qualify for 5% cashback (another RM50 monthly cap) on the following:

  • Groceries
  • Online Spend
  • E-wallet reload
  • Utilities

Spending another RM417 on the above categories will get you to the other RM50 cap as well. This leaves you with RM1,666 left to spend and getting only 0.2%. I didn’t like that I’d have to waste the RM1,666 leftover. This is a pretty good card if you’re willing to spend >RM2,500 on this card alone. You could potentially get RM100 in monthly cashback with this card. Not too shabby at all.

Bank Islam Visa Platinum Credit Card-i Review

best credit cards in malaysia Bank Islam Visa Platinum, Visa Infinite, Visa Gold Review

Link to apply

Annual fee: RM388 – waived with 12 swipes in a year
Income requirement: RM36,000 p.a.
Cashback rate: 3% – 5% (RM30 monthly cap)
Point conversion rate: Not worth looking into

Bank Islam has some pretty good credit cards lined up. We’ll take a look at the more attainable Bank Islam Visa Platinum Credit Card-i. You get a 3% cashback on spending between RM500 – RM1,499. Anything above RM1,500 and you’re eligible for 5%.

What I don’t like about this arrangement is that you only get cashback above a certain spending and that’s a big no for me. But otherwise, the cashback is pretty straightforward to reach and it’s a pretty good cashback %.

Bank Islam’s card is not the best credit card out there and is a hit-or-miss for me. I’d go for the other cards mentioned above for cashback.
Also, as it is an Islamic card, you’re prohibited from certain merchants.

best credit cards in malaysia Bank Islam Visa Platinum, Visa Infinite, Visa Gold Review

The best credit cards in Malaysia for Airmiles

Alliance Bank Virtual Visa Platinum

Alliance Bank Visa Infinite Review (No longer applicable after August 2025)

Link to apply.

Effective August 2025, Alliance Bank has reduced the Visa Infinite’s e-wallet and e-commerce spending points to ZERO.

I will be cancelling my card but will be changing instead to the Alliance Bank Virtual Visa Platinum as that card still provides points for e-wallet top-ups.

Annual fee: Free for life
Income requirement: RM24,000 p.a.
Cashback rate: No cashback
Point conversion rate: 15,000 TBP for 1,000 Enrich Miles. RM2-3 – 1 Enrich Mile
Lounge access: nil

After talking about all the best credit cards for cashback, it is now time to look at air miles. Below are the Timeless Bonus Points (TBP) given for every RM1 spent.

  • 8X TBP – online shopping and e-wallet reload (RM3,000 cap, 1X TBP after)
  • 1X TBP – all other transactions

Why this card? I will only use this card for e-wallet top ups. Capped at RM3,000 per month.

CIMB Preferred Visa Infinite

CIMB Preferred Visa Infinite

Link to apply

CIMB Preferred Visa Infinite Points and Bonus Points

Note: auto-debit/recurring transactions do not count towards points.

Annual fee: Free for life (as long as RM250K AUM is maintained to remain a CIMB Preferred client)
Income requirement: Nil. You just need the RM250K parked with CIMB
Cashback rate: No cashback
Point conversion rate: RM2 – 1 Mile
Lounge access: 8X unconditional access to Plaza Premium lounge including for supplementary cardholders. Special access to prestigious lounges like Plaza Premium First in Malaysia.

This is one of the best cards in terms of Premium Plaza Lounge access. They have campaigns too where you can earn 35,000 bonus points by meeting a few conditions. If you’re eligible and have RM250K to park with a bank, then by all means, go for it.

Also, if you’re spending RM10K a month consistently, this will be the card to charge all your expenses too. But I think for the average Malaysian, RM10K a month in spending is a little high. So if you’re like me and spend maybe close to RM5K a month, look at CIMB’s Visa Infinite below.

CIMB Visa Infinite

CIMB Visa Infinite

Link to apply

CIMB Visa Infinite Points Bonus Points

Note: auto-debit/recurring transactions count towards points!

Annual fee: Waived
Income requirement: RM60,000 per annum
Cashback rate: No cashback
Point conversion rate: RM2.5 – 1 Mile
Lounge access: 5X access to Plaza Premium lounge (NOT for supplementary cardholders). Spending of RM60,000 required.

This is the card I’m using as my monthly spending is in the range of RM5K – 6K.
To keep things simple, I consolidate the bulk of my spending here. I maximise my Maybank Amex weekend spending (RM1,000 cap per month), the rest goes here.

Maybank Singapore Airlines KrisFlyer AMEX Platinum Card Review

best credit cards in malaysia Maybank Singapore Airlines KrisFlyer AMEX Platinum Card

Link to apply

Annual fee: Free for the first year. (RM300 for subsequently years)
Income requirement: RM60,000 p.a.
Cashback rate: No cashback
Point conversion rate: RM2-2.5 – 1 KrisFlyer Mile
Lounge access: 5X complimentary access to Plaza Premium lounge

With this card, the biggest benefit by far is that you bypass Maybank’s ridiculous monthly 100 million miles cap that ALL their cardholders face. With this card, your Krisflyer miles are credited directly to your KrisFlyers account every month.

If you’re into miles, this card here would top the list for me. However, I decided not to sign up because after using my Maybank 2 Cards AMEX and Ikhwan AMEX, I wouldn’t have much left over to maximize this card’s benefits. I prioritize cashback first, and then any additional spending goes towards earning miles.

The 4 best credit cards in Malaysia – 2025 hybrid strategy

I spend an estimated RM7K per month using my credit cards. And these are the best credit cards that fit my hybrid strategy.

  1. Maybank 2 platinum cards AMEX – 5% cashback (RM1,000 spending)
    Petrol, accommodation, telco, Grab (weekends only)
  2. Maybank Islamic Ikhwan American Express Platinum Card-i – 8% cashback (RM625 spending)
    Government transactions and online spending – Lazada, Shopee
  3. CIMB Visa Infinite – Bonus points when you reach RM5,000 spending per month.
    Main/filler card. I use this card for everything else not covered by the above 2 cards
  4. CIMB Preferred Visa Infinite – Bonus points when you reach RM10,000 spending per month.
    I don’t spend RM10K per month. I just keep this card for the superior lounge benefits!
  5. Alliance Bank Virtual Visa Platinum – I use this to top RM3K into my e-wallet.
    Shopee Pay mostly and TnG (1% fee). Maxing this out every month can net me a round trip to nearby countries once a year – think Thailand, Singapore or Indonesia.
  1. AFFIN DUO Visa Cash Back – 3% cashback (RM1,000 spending)
    E-wallet reload and insurance auto-billing
  2. Alliance Bank Visa Infinite – Filler card for everything else
    Food, accommodation, parking, meta ads top-up etc. Anywhere that doesn’t accept AMEX.

These 4 cards make up my hybrid strategy. If you’ve got any ideas or suggestions that will help, please feel free to comment and let me know how I can improve and up my credit card game. Would genuinely love to be able to improve and let everyone know at the same time.

If you’re exploring credit cards, you might also be interested in Premier Banking in Malaysia. Discover the best Premier Banking options from Malaysian banks here.

As always, follow my Facebook and Instagram to keep up to date!

Refund from TnG Card (Touch n Go) – Step by Step Guide

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Filed Under: Other, Financial/Life Hacks, Investment 0

This article will serve as a guide on how to get a refund from TnG card in 5 easy steps.

TnG Card FREE Replacement

Before moving on to getting your refunds, I’ve got a PSA here for those of you wanting to get your expiring TnG cards replaced for free. So apparently, 1 month before your TnG card is set to expire, you’re able to get a free replacement.

TnG Card free replacement 1 month

Based on the discussion found on Lowyat forum here in Nov 2024. Unsure if this works currently or if TnG will be discontinuing this but it is worth checking out.

Touch n Go – TnG Refund in 5 Easy Steps

How to Request a Refund from TnG Card (Touch 'n Go)

Today I learnt how you can request a refund from TnG card easily. Decided to figure out how to get back my funds as my IC and also one TnG card expired previously.
I’ll keep the post short.

Confirmed working as of 15 May 2024. I received my refund.

How to Request a Refund from TnG Card (Touch 'n Go)

Step 1 – TnG Refund Page

After getting hold of your TnG card’s serial number, you can head to their Refund page hERE.
Go ahead and Register. You’ll then be brought to this page hERE.

You’ll find your IC(s) listed here with its respective balance if you’ve ever reloaded and used your IC as TnG. Mine looks like this:

Step 2 – Find your TnG Card’s Serial Number

Before initiating the refund, ensure you have your TnG card’s serial number. This number is typically located on the back of your card. Alternatively, if you’ve registered your TnG card via the TnG eWallet app, you can retrieve the serial number there.

Step 3 – Link and Register Cards

Initially, you won’t see any of your TnG cards here, so please go ahead and register them. Look to the fields on your left and you’ll find Cards & Devices > Register Additional Card/Device.

Proceed to key in your card’s serial number.

Step 4 – Request Refund

With your card linked, you can now request a refund. Look to your left again and you’ll see Refunds > Refund Request.

Choose Card Termination as the Refund Request Type.

Then select the card you want to terminate and request a refund from. Reason: Expired Cards
Select how you’d like to receive your refund: Bank Transfer, DuitNow or TnG eWallet.

Step 5 – Done!

And you’re done! This is a pretty straightforward process. After submitting your request, the refund will be processed within 14 to 30 days. For lost or stolen cards, the refundable amount is based on the available balance at the time of the refund form submission.

Please be aware that your card will be terminated, so I only do this for expired ones to get the money out. I hope this helped!

Important Considerations:

  • Registered Users Only: Refunds are exclusively available for users who have registered their TnG cards on the portal.
  • Refund Methods: Ensure that the bank account details provided match the registered card owner’s information. Refunds to third-party accounts are not permitted. For non-Malaysian account holders, refunds over RM100 can be processed via Telegraphic Transfer (TT). Refunds to the TnG eWallet are only applicable for verified accounts.
  • Card Termination: Requesting a refund will result in the termination of the associated TnG card. It’s advisable to only proceed with this for expired or inactive cards.

For further assistance, you can contact Touch ‘n Go via:

In addition to this, you’ll be surprised to find that we still have credit cards that provide us with cashback here in Malaysia – namely the Affin Duo Visa Card. You can read more about the Best Credit Cards in Malaysia here.

Carsome Review – My Experience Buying and Selling My Car with Carsome

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Filed Under: FI/RE, Financial Independence, Financial/Life Hacks, Investment, Other, Travel, food and the finer things in life 9

This is my Carsome Review and my full experience of buying and subsequently selling my car with Carsome. I love cars and I’ve never bought a brand-new vehicle in my life. The car I just sold off was a 21-year-old BMW e46. I got the car back in 2013 and have been using it as my daily drive.

Carsome Review - Buying and selling BMW E46

The reason I had to let go of the car was the extremely high cost of maintenance. I had been consistently spending thousands of ringgit a year for part changes and enough was enough. This is why you shouldn’t ever keep an old continental car as your daily drive.

The options available to me were to sell the BMW and get another newer car or sell the BMW and use Grab. I decided on getting another vehicle as I actually like driving and after doing some simple calculations, owning my own car made more sense.

Carsome Review – Selling my Car to Carsome

I had been getting ads on Instagram from both Carsome and myTukar (now Carro) regularly by this time. Went car-browsing on both sites and spent hours sifting through them.

Some stuff to take note of, myTukar doesn’t accept cars over 20 years old. Carsome does.

Also, both of them gave me much higher prices compared to the local dealers you can find on Mudah. I predict a swift and timely death to 2nd hand car dealers all over Malaysia soon. They just can’t compete anymore.

So, took the plunge, sold my car to Carsome and got the best possible price (it was still a really shit price) and went browsing for my next car at Carsome.

Carsome Review – Buying a Used Car from Carsome.

For years now, I already knew the brand and car model I wanted (it is a hatchback). And that’s about as much as I’d like to disclose about my vehicle for now.

All I had to do was look out for one that had low mileage and was in good condition. I had already done my research on the car with all the known issues and what to look out for. There were only two real choices for me. The hatchback or the very compact and fuel-efficient Perodua Axia. Also a low mileage and good condition one of course.

I was in no rush to sell the car so I think I spent about a month or two just sifting through and browsing cars on Carsome and myTukar. I had about 6 tabs open on my browser every day on cars. The car I wanted came on sale in January on Carsome. It was the model I wanted and it had done about 50k in mileage. The same models were at 80-100k mileage and priced the same on sites like Mudah.

Made the call, went through the process and paid a refundable deposit of RM1,000 for the car. I had the salesperson bring the car over to KL all the way from Johor for a viewing.

Steps to Buying a Secondhand Car

Now I’m sure there are plenty of resources on buying secondhand cars online you can go through. Heck, some of you here may even be veterans and are better at it than I am. But here is what I did.

1. Inspection

One of the reasons I chose Carsome was for its inspection and checking system. There is a detailed report on the problems found on each car listed on their website.

Despite this, the very first thing I did was bring the car to a friend’s workshop and garage for a full inspection. Did an Onboard diagnostic (OBD) to make sure the car wasn’t tampered with. Paid RM150 for the inspection.

We checked for rust at the bottom and made sure no rust was found on the car’s mainframe. We noticed significant rust on the car’s front right absorber and mounting.

The salesperson from Carsome was a really good one and a friend of a friend. He agreed to have the car sent back to their workshop and to change the parts if there were issues found.

2. Test Driving

After waiting for about a week for the car parts to be fitted, I brought along a very kind friend who was a mechanic for the first viewing and test drive. Let him take the wheel and right off the bat, we heard weird sounds coming from the front whenever the car went over a speed bump.

And guess what? It was back to the workshop again! In total, I think I went for 3 test drives because of the sound from the front. Carsome changed: Absorbers, Mounting, Dust Covers, Bearing and even did the alignment for the wheels. At the end of 4 test drives over the span of a month, there was still some sound coming from the front over speed bumps but it was significantly less, I was already feeling really embarrassed for the back and forth and decided to just go ahead with the purchase. I decided that I would refit the parts on my own time later.

I think only companies like Carsome and myTukar will do this for you. If you’re purchasing from a secondhand car dealer, forget it.

3. Loan Application and Payment

I got the salesperson to submit my hire purchase application to a few different banks and settled on CIMB as they offered me the lowest rate at 3.1% for a 7-year loan. The loan came with a few conditions.

  1. Open a savings account with CIMB;
  2. Take the first year’s motor insurance with them; and
  3. Snatch Medz for one year.

Snatch Medz is a sort of life insurance where if I were to die or suffer a total disability, the loan would be paid off. This one cost me RM430 for the first year.

Used my credit card for the deposit, but had a problem increasing my credit limit with Maybank so I had to delay the purchase for another few days. Managed to get it settled eventually so a tip here is to get ahold of your bank earlier if you’ve already decided on the car. Get your points from the deposit! It is worth it.

Also, you may be interested to read about how long of a loan period you should go for, and what is a good way to look at car loans through a personal finance lens here.

Additional Stuff I Asked For

If you’re going to get a vehicle from Carsome or Carro (formerly myTukar), don’t forget to ask for additional freebies!

You can check out Carsome hERE.

Change all faulty parts!

Change in parts that were broken. As mentioned earlier, I got a lot of parts replaced. If you’re getting your car from a dealer like Carsome, you should do your inspection and ask for a change in faulty parts. Ask for everything!

Car plate number interchange

I got a discount for the exchange of my car plate number. I bought my own number through JPJ’s auction and had Carsome replace it at a discount. I think it was around RM200 cheaper to do it through their agent.

Promotions

Always remember to check what promos the dealer is having. It so happened that Carsome was having a TnG wallet promo and I asked for that.

They were also giving an RM1K discount if you sold your car to them and subsequently bought from them afterwards. I qualified for that and got RM1K off as well.

Petrol vouchers

And after getting everything sorted, I got my guy at Carsome to get me petrol vouchers! I got about RM300 worth of it.

End.

So I’ll most likely be using this car for at least another 10 years. Will be keeping it in good condition. I have still yet to buy a new car for myself. This article has taken a pretty sharp turn away from investing, but hey, buying a car costs money and making a good decision here is vital to investing too.

If you’re looking to sell or buy a car, head over to Carsome’s website. I’ve had a good experience with them. I can even get my salesperson to give you a call so drop me an email or a DM on Instagram.

Aaaaand, if you’ve been following me on Instagram, you would’ve noticed me posting pics of another vehicle occasionally. I invested in an old classic car and I’ll be posting much more about it soon!

Watsons Malaysia – How to get Cashback

By
Filed Under: Credit Cards, Financial/Life Hacks 0

This article is authored and brought to you by one of our long-time readers – Alan Toh.

I did some minor editing. Enjoy!

Shopping for personal care products, skincare, cosmetics, and health supplements

Surely all of us have been to Watsons’ chain of pharmacies at some point in our lives. Be it to purchase personal care products, skincare, cosmetics or health supplements. And who wouldn’t like to receive cashback for all these purchases?

Well, I am here to introduce – the ULTIMATE guide to earn cashback from all of our purchases from Watsons’ .

Method 1 – Watsons’ VIP Membership

One may think that this is a pretty straightforward way of earning points for every RM spent by just simply flashing the Watsons’ VIP membership card (or phone number registered with the membership) upon checkout at the cashier. You’re wrong.

As the Watson’s VIP Membership card comes with a built-in Touch n Go feature, users are encouraged to pay for their purchases at Watsons’ with Touch n Go by giving out very generous points multiplication.

Right now, for every RM paid with the Watsons’ VIP – Touch n Go card, users will be rewarded with 10x the points.

As an example, or every RM20 spent with the card, users will receive 200 points, equivalent to RM1 in cash value. That in itself is a generous 5% cashback (uncapped, of course). Not only that, Users can be rewarded with an additional 5x – 10x points for some selected products (just look for the tags on the aisles at Watsons).

Of course, in order to use the Watsons VIP membership card’s Touch n Go feature for payment, you need to have sufficient balance in the card. The card can either be reloaded without any fees at any Watson’s store using cash or with a credit card (note: accumulate credit card cashback or rewards points for every top-up performed) at any of the locations. You may double-confirm the locations hERE.

In conclusion, not only do we get rewarded with Watsons’ VIP points worth between 5% – 7% in cashback, we would also be able to collect credit card cashback or rewards points as well. That could mean about 10% worth of cashback for our shopping at Watsons.

If you take a look at the example above of a purchase that I recently made using my Watsons’ VIP membership card, you can see that I received 6248 VIP points for my purchase of RM472.45. The value of the points received is worth RM31.24, which translates to a cashback value of 6.6%. In other words, I get to use the points earned for my next purchase at Watsons’, saving me a total of RM31.24 in value.

As of Jan 2020, Watsons’ may have reverted the 10x points to 5x.

Method 2 – BOOST Your Purchases

The second option would be to use Boost to pay for your purchase at Watsons’ store. The cashback reward for this method would usually turn out to be lower than the first method, but if reloading Touch n Go is a bit of a hassle for you (or if you are one who owns a credit card which rewards cash back for online purchases), then Boost is the way to go for.

The method here is fairly simple though, you’ve got to reload your Boost with a credit card (note: DO NOT use a Maybank Card to reload as you will not receive any reward), then flash your Watsons’ VIP Membership card together with your Boost QR code for payment upon checkout.

Remember to shake your Boost for coins (it’s the only way you would receive cashback from Boost). The typical cashback amount you would receive from Boost is between 2.2% – 8.8% depending on your luck with the Bonus coins reward and your Boost level. On top of that, you would receive up to 5% cashback from your credit card (usually capped at RM50 per card) and the usual 1 VIP point per RM spent from your Watsons’ VIP membership card (equivalent to 0.5% of cashback).

All in all, you may receive up to 18.8% of cashback using this method (up to 6.6% from Boost, up to 5% from credit card and up to 5% from Watsons’ VIP membership card if the item rewards with 10x points) if lady luck is on your side.

Method 3 – Mother of all Cash-Backs with Touch n Go eWallet

The final method, which could probably be the BEST method for earning cash back from Watsons’ store would be payments made using Touch n Go eWallet. You see, Touch n Go eWallet would occasionally collaborate with Watson’s to reward users with the Ultimate cashback of up to 16% (yes, you heard right, Watson’s and Touch n Go eWallet would give you RM8 in cashback for a minimum spending of RM50 and above in a single receipt).

Bear in mind though, each Touch n Go eWallet user is entitled to receive this cashback only ONCE throughout the campaign period and to make matters worse, the RM8 cashback is only limited to the first 25,000 transactions at all Watsons’ stores. So if you would like to earn up to 16% + up to 5% cashback for your purchases of RM50, then be sure to be one of the earliest to pay with your Touch n Go eWallet for your purchase at Watsons’.

Do keep in mind that the cashback from Touch n Go eWallet is capped at RM8 for purchase of RM50 and above in a single receipt, so try to use a combination of payment methods if your purchase amount is higher than RM50 in order to maximize the amount of cashback you could receive.

Watsons’ new campaign as of 2 Jan 2020 – 26 Feb 2020 is RM8 cashback for a RM60 minimum spend.

Bonus Money Saving Pro-Tip

Occasionally, Watsons’ would give out RM5 cash vouchers during their own campaign period, which is claimable the following week after the end of their campaign period. These vouchers would entitle customers to get RM5 off for purchases of RM50 and above in a single receipt. That is another massive 10% rebate on top of all the cash backs above!

End.

The amount may be a little small for some of you but cashback is cashback to me. Also, TnG’s eWallet is one of the most worthwhile ones out there currently.

Thank you again Alan.

A list of recommendations and stuff I use can be found hERE.
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