Overview of AEON Bank Credit Cards
From shopping and dining to travel and insurance, AEON offers different types of Visa and MasterCard credit cards to cater to the specific needs of its customers in Malaysia. AEON offers numerous rewards and benefits to the cardholders to enhance their shopping and dining experiences anywhere in the world.
Features and Benefits of AEON Credit Cards
Following are the features and benefits of AEON credit cards:
- Minimum monthly repayment: 5% of the outstanding balance or a minimum of RM50, whichever is higher.
- Interest-free period for retail purchases: Cardholders who pay in full before or on the payment due date will get an interest-free period of 20 days for retail transactions.
- Finance charge: Minimum monthly payment before or on the payment due date will be charged 15-18% p.a. There is no interest-free period on cash advance and balance transfers.
- Maximum withdrawal limit is RM3,000 per day subject to the card limit.
- No early settlement fee for 0% Balance Transfer.
- For Flexi Payment Plan, an early settlement fee of RM50 per transaction is applicable.
- For 0% Installment Payment Plan, an early settlement fee of RM30 per transaction is applicable.
Why choose AEON Credit Cards?
AEON offers excellent credit card deals on retail, dining, and travel transactions at select merchant outlets across Malaysia:
- Get special discounts on select products in AEON outlets and Max Valu stores.
- Get double reward points on AEON member privilege day.
- The annual fee is waived for the first year on all AEON credit cards.
- Flexi Pay Plan offers tenures from 6 months to 18 months.
- Balance Transfer Plan with 0% interest rate and no upfront handling charge for 6 months subject to minimum monthly payments.
- Travel insurance, hotel bookings, and free access to Plaza Premium lounges at KLIA.
AEON Credit will issue supplementary credit cards upon request made by the principal cardholder. As a principal cardholder, you are liable for all the transactions made by the supplementary cardholder. You have to submit the ID and address proof of the supplementary applicant. The applicant should be 18 years old or above to apply for a supplementary card. Supplementary AEON BiG Visa credit cardholders can collect and redeem member points that they share with the principal cardholder. AEON issues up to 3 supplementary cards per account.
AEON Prepaid cards
With AEON Prepaid MasterCard, get special discounts and rewards at over 5,000 merchant outlets. AEON offers an annual fee waiver for life. The principal applicant of the AEON Prepaid MasterCard should be 18 years old or above. The eligibility criteria for this prepaid card doesn’t include a minimum income requirement. There is no GST on prepaid cards. You have to submit a copy of your Identity Card (both sides) and the address proof of your mailing address in Malaysia. Fees and charges with regards to AEON prepaid card are as follows:
- The joining fee is RM25.
- Cash reload at AEON credit counter or cash deposit machine is RM2.
- The maximum reload amount is RM10,000 per reload subject to the card limit.
- Card replacement fee is RM20 per card.
- There is no card cancellation fee.
- No late payment charges.
- ATM withdrawal fee at other bank ATMs or CIRRUS Network is RM10 per transaction.
- Overseas card transactions in foreign currencies will be debited from the cardholder’s account after converting to Ringgit Malaysia at the exchange rate on that particular day.
- Overseas transactions include a service fee of 1% of your retail purchase or cash withdrawal.
- Monthly statement request fee is RM5 per copy.
Call AEON customer care centre at 03-2719 9999 to activate your prepaid card and check your balance.
Fees and Charges
Listed below are the fees and charges applicable to an AEON credit cardholder:
|Annual fees||Waived for the first year for all cards.
|Joining fees||Waived for all cards.|
|Cash advance fees||5% of the amount or a minimum of RM15 per transaction, whichever is higher.|
|Finance charges||Finance charge of the outstanding balance will be calculated on a daily basis based on AEON’s tiered finance rate structure:
|Late payment charges||1% of the outstanding balance or a minimum of RM10 to a maximum of RM100, whichever is higher.|
|Overseas transaction charges||1% service fee of your retail purchase or cash withdrawal. Card transactions in foreign currencies will be debited from the cardholder’s account after converting to Ringgit Malaysia at the exchange rate on that particular day.|
|Card replacement fees||RM50 per card. First replacement for AEON BiG Card is RM35 and the subsequent card replacements are RM50 per card.|
|Credit card monthly statement||RM5 per copy. Only the last 3 months’ statements will be provided.|
|Credit balance refund fees||RM2 per request.|
|Sales draft request fees||RM15 per copy.|
There are certain eligibility criteria that an applicant has to meet in order to apply for an AEON credit card such as:
- The principal applicant has to be 21 years old or above and the supplementary applicant has to be 18 years old or above.
- For Classic Visa or MasterCard, the applicant should have a minimum annual income of RM24,000 and RM36,000 for a Gold Visa or MasterCard.
Depending on the applicant’s source of income, the credit card documentation differs at AEON. Listed below are a list of documents that has to be submitted by a salaried employee, self-employed person, and commission earner in order to apply for an AEON credit card:
- Both sides of the I.C. (Identity Card) for principal and supplementary card applicants.
- The last 3 months’ salary slips.
- Form BE, Form EA, or the last 6 months’ salary slips for commission earners.
- Business Registration Certificate or Form 9/24/49 for self-employed applicants.
- The last 6 months’ bank statements from the company account.
Balance Transfer Plan
AEON Credit offers 0% Balance Transfer Plan wherein the cardholders can transfer their outstanding balance from other principal credit cards to an AEON credit card. Depending on the repayment period you choose, the total balance transfer amount and its interest amount will be divided into fixed amounts. A finance charge of 15-18% p.a. is applicable if the monthly installment is not paid in full after the due date.
AEON Credit Card Member Points Redemption Programme
As an AEON member, you can enjoy discounts on selected items at all AEON and Max Valu Stores:
- Earn 2 AEON member points for every RM1 you spend.
- Earn 2.5X points for every Ringgit you spend in AEON stores on the AEON Member Privilege Day.
- Earn additional 500 AEON member points during AEON Member Fiesta events with a minimum spend of RM200.
- Get 2% cashback up to RM100 for purchases in AEON stores during AEON member day.
- You can redeem member points for AEON gift vouchers.
No reward points issued for petrol and government related transactions.
How to Report a lost Credit Card?
If your credit card has been stolen or missing, immediately alert AEON Credit of the situation. You will be held liable for any unauthorised transactions if you fail to report the missing or stolen credit card to AEON Credit. You have to give a written confirmation to AEON Credit along with a police report that states that your credit card has been stolen or missing. The missing or stolen card will be blocked immediately and you will get a replacement card on request. Call AEON customer care centre at 03-2719 9999 for immediate assistance.
How to apply for an AEON Credit Card?
To apply for an AEON credit card, fill up the credit card application form available on the AEON website or visit one of the AEON Credit branches present nationwide. You have to submit the relevant documents for age and income proof along with the application form. The documents will be verified by an AEON personnel before approving your application.
AEON Credit Hotline Number
Call AEON customer care centre at 03-2719 9999 for immediate assistance with your credit card related queries. You can visit www.aeonmalaysia.com.my for a credit card application form. For enquiries, you can also contact AEON Credit Service (M) Berhad, Level 29, Menara Olympia, No. 8, Jalan Raja Chulan, 50200, Kuala Lumpur.
FAQs of AEON Credit Card
Listed below are some of the frequently asked questions about AEON Credit Cards in Malaysia:
What are the types of credit cards offered by AEON Credit?
- AEON Visa or MasterCard Gold
- AEON Visa or MasterCard Classic
- New AEON Visa MasterCard Gold
- New AEON Visa MasterCard Classic
- AEON BiG Visa Gold (VISA payWave)
- AEON BiG Visa Classic (VISA payWave)
- Motorcycle Association Affinity Visa Gold
- Japan Club of Kuala Lumpur Credit Card
- What is the minimum monthly repayment amount for AEON credit cards?
5% of the outstanding balance or a minimum of RM50, whichever is higher.
- What is the late payment charge for AEON credit cards?
1% of the total outstanding balance or a minimum of RM10 to a maximum of RM100, whichever is higher.
- What is the AEON Credit helpline number?
AEON customer care centre number is 03-2719 9999.
- What to do if there are changes to my contact details?
Call our customer care centre at 03-2719 9999 to change your contact details or visit one of the AEON Credit branches in Malaysia.
Click here for all AEON Credit Card Promotions
Other Products offered by AEON:
Apart from offering Credit Card,AEON offers other products and services which include:
- Cash vs Cards Payments Malaysia
- How to Find the Perfect Credit Card in Malaysia
- How to Improve your Credit Rating in Malaysia
- How to Increase Credit Limit in Your Credit Card
- How to Pick an Emergency Credit Card
- Student Credit Cards in Malaysia
- Supplementary Credit Cards in Malaysia
- When to Use Credit over Cash
- Shed the Excess Interest Rates
- Protecting One’s Credit Card While Travelling
- Defaulting Your Credit Card Bills in Malaysia?
- Top 5 Reasons Why Owning a Credit Card is Good for You
- How to improve your chances of having a credit card approved
- Credit Card fraud: Are you aware of it?
- Understand Credit Card interest free period
- Reward Credit cards Malaysia
- Best Cash Back Credit Cards in Malaysia
- Best Zero Annual Fee Credit Cards in Malaysia
- Personal Loan Against Credit Card
- How to Maximise Your Credit Card Benefits
- Popular Credit Card Fees and Charges in Malaysia
- How to Apply for Credit Cards in Malaysia for Foreigners
- Top 10 Credit Cards in Malaysia 2016
- Best Low Interest Rate Credit Cards in Malaysia
- What charges do you pay for when you swipe your card overseas
- Best Petrol Credit Cards In Malaysia
- Credit Cards for Employees in Malaysia
- Common Mistakes to Avoid While Applying for a Credit Card
News About AEON Credit Card
Aeon credit to offer asset-backed financing product
Aeon credit service in collaboration with HelloGold Sdn Bhd will offer an asset-backed financial product. The move will increase Aeon’s existing product base. Asset-backed financing products provide credit facilities to borrowers with marginal cash flow and high financial leverage. The non-bank lender will provide finance to customers at a competitive rate provided they are eligible to gold collateral value. Every person can buy gold in accessible, affordable, and a safe manner. The customers can also buy and sell gold at any time through their mobile apps. This is a shariah-compliant way as it does not pay up to 20% premiums to buy gold as they would if gold was brought from a shop.
3rd May 2017
Aeon Credit Looks at Robust Loan Growth
Small financial institutions like Aeon Credit Service Bhd are reaping the benefits of tougher rules for lending for bigger institutions like banks. Aeon Credit’s business is expected to register strong growth in their business of providing personal loans.
The business model of Aeon Credit is another reason for its success, while most other financial service providers are facing difficulties in growing their portfolios in the current economic scenario. It caters to niche customers from the retail market. Experts believe that the retail sector would keep registering high demand of finance in the near future.
Alliance DBS Research expects Aeon Credit’s loan receivable to increase at 16%-18% p.a. for the financial year 2017-18 (FY18) and 2018-19 (FY19).
For the third quarter, the company’s net profit rose 25.76% from RM53.36 million last year to RM67.05 million. Revenue grew 14% from RM245.78 million last year to RM280.35 million.
9th January 2017
Four New digital Branches by Aeon Credit Service.
Aeon Credit Service (M) Berhad – one of the credit card providers in Malaysia are going to set up four digital branches in Malaysia by the end of February, 2017. With the purpose of offering superior and enhanced customer service to customers, the credit card company decides to increase the number of its digital branches. As per the plan, the proposed branches would be opened at Kota Baharu, Segamat, Sungai Petani, and Shah Alam. The credit card company is in the process of turning its existing 60 branches into web-based digitalized branches for superior customer experience.
These new digital branches are expected to save a lot of time and cost. The company also has plans for expanding its e-money, insurance and credit card businesses. The pre-tax profit of the company increased by 4.7% to RM301.59million in the financial year Feb 28, 2016. Previously, it was RM289.27million. Similarly, revenue of the company increased by 10.7% to RM965.23mil from RM871.60million in 2015.
23rd June 2016
Aeon Credit Card Bullish
Aeon Credit Service revealed that it made a net profit of 53.36 million ringgit during the third quarter of 2015 with a revenue of 245.78 million ringgit. The company also revealed that the net profit for the cumulative nine months was 160.09 million ringgit, with a revenue of 706.94 million ringgit. The ratio of non-performing loans stood at 2.68% as on the 30th of November, 2015. It was 3.07% as on the 20th of November, 2014.
The financial receivables as on the 30th of November, 2015, was 5.15 billion ringgit, marking an 18.3% increase from the 4.35 billion ringgit recorded on the 20th of November, 2014. The operating income for the third quarter of 2015 was 21.63 million ringgit, and for the nine months ended 30th November, 2015, was 65.32 million ringgit, comprising primarily of commission income from the sale of insurance products, bad debts recovered and AEON Big loyalty programme processing fees.
06th January 2016