Overview of Alliance Bank Credit Card
Alliance Bank is one of Malaysia’s leading banks offering holistic banking solutions for its customers with numerous banks across Malaysia specializing in Islamic banking, consumer banking and SME banking. Alliance Bank offers credit cards with a wide range of benefits tailored to meet the everyday needs of the cardholder. From offering cashback to privileges such as travel insurance, discounts in select retail merchants, there is a card from Alliance that meets every need. Alliance also offers credit cards exclusive to agents and employees and agents of Allianz Life insurance company. Below are the list of the credit cards offered by Alliance Bank and its features.
Why Choose Alliance Bank Credit Cards?
Alliance Bank is a leading bank specializing in providing extensive and innovative financial solutions to its customers. The credit cards offered by Alliance are tailored to enhance the shopping experience of the cardholder. They can extract full value from their expenses by acquiring reward points that can be exchanged for appliances, electronic goods and air miles. The credit cards from Alliance also offer competitive interest rates at 15% p.a. with a 20 day interest free period and flexible payment terms of 6 months and 12 months.
Features and Benefits of Alliance Bank Credit Cards
- The minimum monthly payment is either 5% of the outstanding amount or RM 50.
- The credit card allows for cash withdrawals. The limit of daily cash withdrawals is capped to RM 5000 and there is a cash withdrawal fee of 5% of the withdrawn amount or RM 15, whichever is higher. The interest charged on cash withdrawals are 18%
- The late payment penalty is 1% of the outstanding amount
- The flexible payment terms are for 6 months and 12 months. The interest rate for 6 months starting from RM 500 is 2.5% with no upfront handling fee and for 12 months it is 5.5% starting from RM 500 with no upfront handling fee.
- Alliance credit cards have a balance transfer plan with interest rates starting from 6% with terms for payment going up to 24 months
Eligibility for Alliance Bank Credit Cards
- The minimum age of the primary cardholder needs to be 21 years as at last birthday. The minimum age for the supplementary cardholder should be 18 years as at last birthday.
- Anybody can apply for the Alliance Bank credit cards, but only Allianz Life employees and agents are eligible to avail the Allianz insurance gold and platinum credit cards
- The minimum annual income required for Alliance Bank Chinese Independent Schools Gold Card, Alliance Bank Allianz Insurance Gold, Alliance Bank Classic Card, Alliance Bank Rewards You:nique, Alliance Bank Rebates You:nique Card, Alliance Bank CPA Australia Gold Card, Alliance Bank Tiger FC Card and Alliance Bank Gold Card is RM 24,000
- The minimum required annual income to avail the Alliance Bank Platinum Card and Alliance Bank Allianz Insurance Platinum card is RM 60,000. Alliance Bank Visa Infinite has a minimum annual income requirement of RM 150,000.
Alliance Bank Credit Card Documentation
Aspiring cardholders should first meet the minimum age and income criteria set for the Alliance bank credit cards. If applicants are meeting the criteria, they can download the application form from the website or collect it from their nearest Alliance Bank branch and submit the completed application form with the list of supporting documents. The supporting documents required depend on the type of applicant.
If the applicant is a salaried person with a fixed income, the documents required are
- A copy of the latest salary slip
- A copy of the latest EA form that is dated within the past 12 months
- A copy of the latest EPF form that is dated within the past 12 months
If the applicant earns income through commission basis, the documents required are
- A copy of the latest Borang BE with a proof of payment such as a tax receipt or a CIMB payment receipt
- A copy of the annual commission statement
- A copy of the bank statement reflecting the past 6 months of commission statement
If the Applicant is self-employed, the documents required are
- A copy of a current and valid business registration certificate
- A copy of the BE form with tax payment receipt
- A copy of the bank statement dating back 6 months
- A copy of the latest EPF form
Alliance Bank Credit Card Redemption Catalogue
Alliance Bank credit cards offer the cardholder a variety of benefits such as reward points that can be redeemed for exciting gifts and travel packages. These reward points can be redeemed against electronic gadgets, vouchers, time pieces, travel bags and many more categories. Cardholders’ looking to redeem their points can find the rewards catalogue on the Alliance Bank website. This catalogue is broken down categorically for ease of navigation.
Once the cardholder has chosen the reward they would like to claim, they are required to download and fill out the redemption form also available on the website. Once filled out and submitted the redemption requests cannot be revoked, cancelled or exchanged and if the reward points are insufficient the application will be rejected. Goods redeemed through this form will reach the cardholder on the specified address within 21 working days.
Alliance Bank Balance Transfer Plan
Alliance bank allows its cardholders in managing their finances effectively. They no longer need to be burdened by increasing credit card debt from other banks with high interest rates. Cardholders can transfer any outstanding credit card dues on to the balance transfer programme available in Alliance bank credit cards.
The interest charged in this plan starts as low as 6% p.a. and offer tenure options ranging from 12, 18 and 24 months. The minimum amount that can be transferred under this plan is RM 1000 and every RM 10,000 that is transferred stands to earn 500 timeless bonus points. The balance transfer plans from Alliance Bank requires the cardholders to make full monthly payments on time. Any amount missed attract normal interest rates of 18% till it is fully settled.
|Read More on Alliance Bank Balance Transfer|
Alliance Bank Fast Cash Plans
Alliance Bank credit cards gives the cardholders fast access to cash when they need it the most. This plan from alliance bank is flexible and gives the cardholder greater control over their repayment schedule. The available tenures are 12 months at an interest rate of 6.99% p.a. 24 months at an interest rate of 7.99% p.a. and 36 months at an interest rate of 7.99% p.a. The minimum amount of cash withdrawal under this plan is RM 1000 and the maximum available amount is 80% of the credit limit available to the cardholder. The cardholders are required to make full payments on their monthly instalments and any outstanding balance will attract normal financing rates of 18% p.a. till date of repayment.
|Fast Cash Table||12-Month Plan||24-Month Plan||36-Month Plan|
|Low Interest Rate||6.99% p.a||7.99% p.a.||7.99% p.a.|
|Normal Finance Charges||RM 1,438||RM 2,421||RM 3,059|
|Alliance Fast Cash Plan||RM 699||RM 1,598||RM 2,397|
|Total Savings||RM 739||RM 823||RM 662|
Frequently Asked Questions - Alliance Bank Credit Cards
Q) What is the charge for reissuing a credit card statement?
A) The Charge for reissuing or obtaining a duplicate statement is RM 5.30 per statement. This fee is inclusive of GST.
Q) What is the card replacement fee for Alliance Bank credit cards?
A) The fee for replacing a card is RM 50 and is not inclusive of GST.
Q) What is the breakdown of finance charges for Alliance Bank credit cards?
A) The credit cards from Alliance bank offer an interest free period for retail transactions. This period has a 0% p.a. interest for the first 3 months (except Visa Infinite). The interest charged on the subsequent months fall into 3 tiers. Tier 1 has an interest rate of 12% p.a. and is for those cardholders that have settled outstanding dues on time promptly for over 12 months. Tier 2 is 17% for those who have settled at least 10 monthly payments in a course of 12 months and Tier 3 of 18% for those cardholders who frequently miss paying their dues on time.
Q) What is the interest rate charged on cash withdrawals and how much is the maximum cash withdrawal limit?
A) The cash withdrawal limit is 80% of your credit limit and the interest charged on cash withdrawals is 18% p.a. This interest is charged on a daily basis from date the amount was withdrawn.
Q) What are the annual fees of a You:nique credit card?
A) The annual fees for the primary You:nique credit card is RM 156.88 for a primary cardholder and RM 31.80 for the supplementary card. The annual fees for this credit card is waived for the first 3 years and thereafter will be waived every year if the card is charged for expenses tallying over RM 5000 a year.
Q) How can I change the face of my You:nique credit card and what are the charges?
A) Cardholders can log on to the website and click on personalize link. They can then proceed with the steps outlined and can either upload their preferred image or choose from the library of images. The images can be changed 60 days after the first image has been accepted and the card issued. They can change it as many times as desired but can be done in intervals of 60 days only. Each change in image will attract a charge of RM 50.
Click here for all Alliance Bank Credit Card Promotions
Other Products offered by Alliance Bank:
Apart from offering Credit Card, Alliance Bank 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 Alliance Bank Credit Card
Enjoy special deals with Alliance Bank
Alliance Bank has launched a host of offers for its customers at the MATTA fair which will be held from September 2nd-4th at the Putra World Trade Center. Customers stand to enjoy great flight discounts as well as numerous flexi-payment options on their purchases made using Alliance bank cards. Customers who spend a minimum of RM200 will be eligible for a wide variety of gifts.
These offers specially pertain to travel tickets and packages. Realizing the importance of breaks, the MATTA CEO mentioned that they hope to see a lot of customers travelling during the upcoming chinese New Year. Alliance Bank card holders get to enjoy free airport lounge access with their Alliance Bank card. The idea is to retain old customers while focussing enough on acquisition of new ones. New card applicants are being offered 2000 Enrich Miles if they spend a minimum of RM1000 within 60 days from the approval of their Alliance Bank card.
18th August 2016
Alliance Bank Aims at 10,000 Customers for Its Business Credit Card in 2016
Alliance Bank Malaysia Bhd wants to bring 10,000 local companies under its new Visa Infinite Business Credit Card by the end of the year.
The bank will be approaching their existing customer base of 85,000 small and medium enterprises (SMEs) at the outset, said their Executive Vice-President and Head of Group Transaction and SME Banking, Victor Khor.
The company claims that the card is the first of its kind for business customers. They are offering Kaligo Business Plus rewards, VAT recovery fund, longer repayment period with up to 56 interest-free days, and zero percent interest repayment plan on overseas purchases.
25th January 2016
First Issuance of Alliance Bank Sub-MTNs, complete
Alliance Bank just completed its first round of Sub-MTNs worth RM 900 Million. Sub-MTNs Sub-MTN stands for Subordinated Medium Term Notes. The bank had a separate program called the Subordinate Medium Term Notes Program which was supposed to look into the issuing of these notes.
Sub-MTNs carry a coupon rate of 5.75% per annum and have a tenure of 10 years. The Subordinated Medium Term Notes are callable on any coupon payment date beginning from the first call date of the coupon.
Sub-MTNs come under the category of Basel-III compliant Tier 2 capital. Alliance Bank had obtained approval from BNM for issuance of Sub-MTNs on August 28th, 2015.
6th November 2015