Cashback credit card: The key to a peaceful life, shopping to your heart’s content

In the modern financial world, cashback credit cards have become a powerful tool helping consumers save and manage spending effectively. With MSB – Vietnam Maritime Commercial Joint Stock Bank, you not only experience shopping to your heart’s content but also have the opportunity to receive back a portion of cash from every transaction. Discover how to take advantage of cashback credit cards from MSB to turn every expense into a reward opportunity and optimal savings.

1. Introduction to cashback credit cards (Cashback)

Cashback credit cards (Cashback) are a special type of credit card that brings attractive benefits to users through refunding a portion of cash from shopping transactions. When you use a cashback credit card to pay for services or products, a part of the money you spent will be refunded to your card account in the form of cash.

Example: you are using a cashback credit card with the following incentives:

Cashback benefits:

• 5% cashback for spending transactions at supermarkets and shopping malls.
• 3% cashback for dining transactions at restaurants.
• 1% cashback for all other transactions.
• Cashback limit: Maximum 600,000 VND/month.
• Annual fee: 1,200,000 VND/year.
• Registration conditions: Minimum income of 10 million VND/month.

Specific example:

You use the Cashback card to shop at the supermarket with a total amount of 5,000,000 VND.

Refund amount: 5% of 5,000,000 VND = 250,000 VND.

You use this card to eat at a restaurant with an amount of 2,000,000 VND.

Refund amount: 3% of 2,000,000 VND = 60,000 VND.

You perform other transactions (such as online shopping, bill payments) with a total amount of 3,000,000 VND.

Refund amount: 1% of 3,000,000 VND = 30,000 VND.

Total refund amount in the month:

250,000 VND (supermarket) + 60,000 VND (restaurant) + 30,000 VND (other transactions) = 340,000 VND.

Benefits of cashback credit cards:

• Spending savings: Each shopping transaction will help you save a portion of costs thanks to the refund amount.
• Encourage usage: Promotion programs and incentives from the issuing bank are frequently updated, helping to optimize benefits for users.
• Effective spending management: Receiving cash back helps you track and manage spending more reasonably and effectively.
• Credit card interest-free period: For most types of credit cards today, cardholders usually enjoy an interest-free policy from 30 to 45 days. This gives customers more time and initiative in their payments.

Cashback credit card

2. Instructions for opening a cashback credit card

Opening a cashback credit card helps you both save from daily transactions and enjoy many attractive incentives. The card opening process is usually simple and fast, below are the instructions:

2.1 Procedures

To open a card, you need to prepare and perform some basic procedures as follows:

Conditions for opening a card:

• At least 18 years old.
• Have a stable income (according to the requirements of the card-issuing bank).
• Have a good credit history, no bad debt.

Documents to prepare:

• Valid Citizen Identity Card (CCCD).
• Residence documents.
• Financial capacity profile (According to MSB regulations from time to time).

Card application form: Fill in full information in the credit card application form of the issuing bank.

2.2 Instructions on how to open a card

There are two main ways to open a cashback credit card: opening the card directly at a bank branch or opening the card online through the bank’s website.

Opening a card directly at a bank branch:

• Step 1: Prepare a full set of documents according to MSB regulations from time to time.
• Step 2: At the transaction counter, the customer fills out the international credit card registration form.
• Step 3: The documents are received and processed by MSB’s Customer Relationship Specialist. The application is approved within 3-5 working days and the card is delivered to the registered customer address.

Register to open a credit card online at home:

• Step 1: Access the website/app of the card-issuing bank.
• Step 2: Select the appropriate “Credit Card” product. Click the “register now” button, fill in full and accurate information.
• Step 3: The bank’s Relationship Specialist will contact to support opening the card for the customer within 1-3 working days.
• Step 4: The profile is appraised and approved.
• Step 5: The physical card will be sent to the customer at the registered address.

Opening a cashback credit card at MSB

3. How to use a cashback credit card effectively

Cashback credit cards not only bring convenience in spending but also help you receive back a part of money from shopping transactions. However, to optimize benefits, you need to know how to choose the right card, manage spending smartly, and take advantage of incentive programs. Below are a few ways to manage and use a cashback credit card effectively.

3.1 Choosing the right card

Research card types: Each bank provides different types of cashback credit cards with separate cashback programs. Research and compare card types to choose a card with a cashback rate and conditions suitable for your spending needs.

Consider fees and interest rates: Check fees related to credit cards such as annual fees, international transaction fees, and interest rates. Choose a card with reasonable costs to optimize financial benefits.

Read terms and conditions carefully: Each credit card has its own terms and conditions. Read carefully to understand how cashback works, limits, and specific requirements, for example:

Cashback method:

• Time for cashback to be credited to the account after the transaction is completed.
• Form of cashback (cash, reward points, etc.).

Cashback limits:

• Maximum monthly or annual refund amount limits.
• Types of transactions that are counted and not counted towards the cashback program.

Specific requirements:

• Minimum monthly spending level to maintain cashback incentives.
• Special conditions to receive cashback (e.g., only applicable for online transactions, at partner stores, etc.).

3.2 Reasonable spending management

• Track spending: Use a spending management app or record daily transactions to control spending and ensure you do not exceed the budget.
• Pay on time: To avoid penalty fees and high interest rates, ensure full payment of the outstanding balance before the deadline. Paying on time also helps maintain a good credit history.
• Prioritize high cashback transactions: Use the credit card for transactions with the highest cashback rate, such as shopping, dining, or travel, depending on the card’s program. For current credit cards on the market, the maximum cashback rate can be up to 10% for online transactions or supermarket shopping.

3.3 Take advantage of incentives

Participate in promotion programs: Banks frequently have special promotion programs and incentives for cashback credit cardholders. Follow information from the bank so as not to miss opportunities to receive incentives. You can refer to MSB card incentives below:

* MSB Visa Online Card:

Cashback up to 20% for online spending, including:

• 20% for movie tickets at cinemas such as CGV, Lotte Cinema, BHD, Galaxy Cinema, Cinestar.
• 10% for online shopping at Lazada, Tiki, Shopee.

* MSB Visa Travel Card:

Cashback up to 6% for travel-related transactions:

• Dining abroad.
• Hotels and airlines.
• Travel platforms such as Traveloka, Agoda, Booking.com.
• Transportation apps such as Grab, Be, Taxi.
• Duty Free shops.

* MSB Visa Signature Card:

• Cashback up to 10% for weekend culinary spending, medical transactions, education, insurance spending.
• Cashback 1% for golf transactions.

Use cards at affiliated partners: Some cashback credit cards have special incentives when used at partner stores, restaurants, or websites. Take advantage of these incentives to maximize benefits.

Sign up for notifications: Register to receive notifications from the bank to timely update the latest incentive and promotion programs.

Using a cashback credit card effectively

4. Notes when using a cashback credit card

Below are some notes when using a cashback credit card:

• Pay on time: To avoid penalty fees and high interest rates, always pay the outstanding balance before the deadline. Paying on time helps maintain a good credit history and avoids being affected by penalties.
• Do not spend beyond your means: Although cashback credit cards bring many benefits, ensure spending stays within your financial capacity. Avoid excessive shopping so as not to fall into debt.
• Monitor transactions: Regularly check credit card statements to early detect abnormal transactions or errors. This helps you protect your account and uphold your cashback rights.
• Understand terms and conditions clearly: Each cashback credit card has its own terms and conditions. Read carefully to understand how cashback works, limits, and specific requirements of the card.
• Take advantage of special incentives: Banks often have special promotion programs and incentives. Follow information from the bank so as not to miss the opportunity to receive additional benefits. Some frequent promotion programs at banks include cashback for movie tickets, cashback for online shopping transactions on e-commerce platforms, etc.
• Use the card at affiliated partners: Some cashback credit cards have special incentives when used at partner stores, restaurants, or websites. Take advantage of these incentives to maximize benefits.
• Sign up for notifications: Register to receive notifications from the bank to timely update the latest incentive and promotion programs.
• Check fees and interest rates: Understand the fees and interest rates related to your credit card to avoid unwanted costs. Some fees you need to notice are: Annual fee, foreign transaction fee, interest rate for outstanding balances, late payment fee, cash withdrawal fee, card issuance fee.
• Secure card information: Protect credit card information from fraudulent acts by not sharing card info with others and using online security measures.

5. MSB Mastercard mDigi Card – 20% Cashback, Diverse Incentives

MSB Mastercard mDigi card is an excellent choice for those who want to optimize spending and enjoy many attractive incentives. With a cashback policy of up to 20%, MSB’s mDigi card brings many significant benefits to users.

MSB Mastercard mDigi card brings many outstanding benefits:

• 20% Cashback: Cashback up to 300,000 VND/statement cycle, flexibly choose cashback fields such as dining, travel, digital entertainment apps.
• Technology virtual card: Convenient online payment, no physical card needed, customize card color according to personality.
• Up to 50% incentive: Enjoy incentives at more than 300 stores.
• Flexible installment: 0% interest installment at major partners.
• Maximum 45 days interest-free: Shop with peace of mind without worrying about interest rates.

MSB Mastercard mDigi Card

Cashback credit cards bring many outstanding benefits, helping users save on daily shopping costs and enjoy attractive incentives. By accumulating cashback through each transaction, you can reduce financial burdens and use the saved money for various purposes. However, to maximize this benefit, reasonable spending management and on-time payment are necessary. When used correctly, a cashback credit card will be a useful tool helping you live a more peaceful and convenient life.

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