In today's world, credit cards are more than just a convenient way to make purchases; they offer various perks and rewards that can significantly benefit our financial health. Cashback credit cards, in particular, are a popular choice for many, providing a percentage of your spending back into your pocket. However, not all cashback cards are created equal, and sometimes, changes in terms and conditions can prompt us to reconsider our options. This was precisely my experience with the Standard Chartered Simply Cash Credit Card.
Why I Cut My Standard Chartered Simply Cash Credit Card
I had been a loyal user of the Standard Chartered Simply Cash Credit Card for quite some time. The card initially offered attractive benefits, including a high cashback rate and Waived annual fees. However, recent changes made me rethink my loyalty. The maximum cashback was reduced from RM60 to RM40, which significantly impacted the overall value I was getting from the card. Additionally, the annual fee became a burden that outweighed the benefits I was receiving. These changes prompted me to look for a better alternative that could offer more value for my spending habits.
The Search for a Replacement
With the decision to cut my Standard Chartered Simply Cash Credit Card, I began my search for a new cashback credit card that could meet my needs. My primary criteria were high cashback rates, reasonable caps, and no excessive annual fees. After comparing several options, I found that the RHB Shell Visa Credit Card stood out as a strong contender.
Why the RHB Shell Visa Credit Card is a Good Choice
The RHB Shell Visa Credit Card offers up to 12% cashback on Shell petrol, which is a significant benefit for someone like me who spends a considerable amount on fuel. Additionally, the card provides up to 5% cashback on groceries, online spending, e-wallet top-ups, and utilities. The monthly cap of RM100 is generous compared to other cards, and the minimum spend requirement of RM2,500 is manageable for my budget.
Here are some key benefits of the RHB Shell Visa Credit Card:
High Cashback on Petrol: Up to 12% cashback at Shell stations.
Broad Cashback Categories: Up to 5% cashback on groceries, online spend, e-wallet top-ups, and utilities.
Generous Monthly Cap: RM100 total cashback per month.
Reasonable Minimum Spend: RM2,500 to qualify for maximum cashback. ( same as SC)
How I can max my cash back?
My Plan:
Category 1: Shell:
420 Shell
Category 2: Grocery, Online Spend, Top Up eWallet, Utilities
200 Utilities (Astro, Celcom, Maxis, TNB,)
100 Grocery
1000 Shoppee
800 Touch and Go
Term and Condition:
Shell RHB cashback is calculated based on transactions before "Statement date - 1 day" and credit on the next statement date.
Comparison Cash back Credit Card:
Conclusion
Switching credit cards can be a daunting task, but it is essential to ensure that you are getting the best value for your spending. The changes in the Standard Chartered Simply Cash Credit Card's terms made it less appealing, prompting me to find a better alternative. The RHB Shell Visa Credit Card emerged as a strong replacement, offering higher cashback rates and broader categories that align with my spending habits. If you are in a similar situation, it might be worth considering the RHB Shell Visa Credit Card as your next cashback card.
Have you had to switch credit cards recently? What factors influenced your decision? Share your experiences in the comments below!
