Overview of AmBank Credit Cards
AmBank Group is one of the largest banking groups in Malaysia offering a wide range of conventional and Islamic financial products and services. Through its universal banking platform capabilities, the Group caters to the needs of a broad spectrum of customer segments, for activities relating to personal banking, business banking, investment banking, stockbroking, funds management, life and general insurance, and family takaful.
Features and benefits of AmBank Credit Cards
- Approximately 3 times of your monthly income.
- Not more than 2 times of your monthly income if your income is RM36, 000 per annum or less.
- Waiver of fees – Annual fees for all AmBank credit cards are waived.
- Rewards Programme – Every card has a built in rewards program. You can accumulate points to redeem in gifts and air miles.
- Cash Rebate – Many of the AmBank credit cards also offer cash rebates on spending at a host of partner retail stores and websites.
- Easy Payment Plan – Up to 24 months interest free instalment payment on hundreds of products ranging from home and kitchen appliances to headphones at our participating merchants.
- Cash Advance – With cash advance facility, you can borrow money without taking a loan, at nominal interest rates.
- Excess Limit Service – You do not need to worry about exceeding your assigned credit limit in times of need, subscribe to this service now to enjoy better peace of mind.
Why choose Credit Cards from AmBank?
The Group reaches out to its customers by providing an extensive network of more than 175 AmBank branches and strategically located electronic banking centres, and is already being recognised as the bank with the most number of branches opened for weekend banking services, and with the largest ATM network at 7-Eleven stores nationwide.
- Switch to e-Statement and save more trees while doing so
- AmBonus on the Spot Redemption
- Islamic Cards
Types of AmBank Credit cards
AmBank Visa/Mastercard Credit Cards:
- AmBank World Mastercard
- AmBank Visa Infinite
- AmBank Visa Signature
- AmBank Platinum
- AmBank Gold
- AmBank Imagine Visa Card
- AmBank CARz Card
- AmBank Cosway Mastercard
AmBank TRUE cards and M-cards:
- AmBank M - Signature Card
- AmBank M - Platinum Card
- AmBank M – Gold Card
- AmBank True
- TRUE by AmBank
First 3 supplementary cards are Free-For-Life. 4th supplementary card onwards is RM75 p.a. - RM188 p.a.
Fees and Charges
Finance Charges for all credit cards (except TRUE Visa Card):
- 1.25% per month or 15% p.a. if you have promptly settled your minimum payment due for 12 consecutive months.
- 1.42% per month or 17% p.a. if you have promptly settled your minimum payment due for at least 10 months in a 12-month cycle.
- 1.5% per month or 18% p.a. if your payment record is not within either one of the above.
To enjoy lower finance charges for retail transactions, you should make at least 10 prompt payments in the last 12 months.
Finance Charges for TRUE Visa Cards
- 0.67% per month or 7.99% p.a. for Year 1 if you have promptly settled your Minimum Payment Due.
- 1% per month or 12% p.a. for Year 2 onwards if you have promptly settled your Minimum Payment Due.
- 1.5% per month or 18% p.a. if you have not promptly settled your Minimum Payment Due in the previous month.
Fixed Management Fee: With Ujrah, the FMF will be dependent on the credit card type:
- Classic: RM450
- Gold/TRUE Card: RM900
- Platinum: RM3,750
- Visa Signature/World Mastercard/Visa Infinite Card: RM15,000
Cash Advance Fee: 5% of the amount advance plus applicable GST of 6% on fees charged or minimum RM53, whichever is higher. This is imposed for each cash advance transaction.
Late Payment Charges: 1% of the outstanding balance subject to a minimum of RM10, whichever is higher, capped to a maximum of RM100.
Interest Free Period: 20 days from the statement date, provided there is no outstanding balance in the credit card account.
Excess Limit Charge: 2% of the amount above card limit plus applicable GST of 6% on fees charged or a minimum of RM53, whichever is higher.
Card Replacement Fee: A replacement card may be issued upon card member’s request and subject to a fee of RM25 per card.
- Minimum age for principal card applicant: 21 years old and above.
- Minimum age for supplementary card applicant: 18 years old and above.
- As of 1 July, 2016, the minimum annual income requirement for AmBank/AmBank Islamic Credit Cards are as follows:
- Infinite: RM120,000
- World: RM120,000
- Signature: RM80,000
- Platinum: RM48,000
If the applicant is salaried then the required documents are:
- A photocopy of both sides of the MyKad or identity card.
- A copy of the employment letter.
- The latest Form J or income tax statement.
- Latest pay slips dating back at least 2 months.
If the applicant is self-employed then the required documents are:
- A copy of both sides of the Identity card.
- The copy of the business registration.
- Bank statements dating back at least 6 months.
- The latest Form B statements with tax payment receipts.
If the applicant is a foreign national then the documents required are:
- A copy of the passport.
- A copy of the job appointment letter.
- Latest payslips for the last 3 months.
- A valid work permit of least 6 months at the time of application.
Balance Transfer Plan – AmTransfer
You can secure greater savings when you transfer your outstanding balances from other credit/charge cards to your AmBank Credit Card. There are 3 plans for Balance Transfer offered by AmBank:
|Plan||Interest Rate/Management Fee (p.a.)||Program Tenure (Months)||Minimum Transfer Account|
To further elaborate here are sample calculations of balance transfer savings across the 3 plans:
|Plan||Interest Rate (p.a.)||Program Tenure (Months)||Transfer Amount||Normal Interest Rate/Management Fee (18%p.a.)||AmTransfers Interest Rate/Management Fee||Total Interest Rate/Management Fee Savings|
How to Report a Lost AmBank Credit Card?
AmBank has a 24-Hour Lost/Stolen Card Reporting and Replacement Service. To report lost or stolen card whilst in Malaysia, please call the customer service personnel at 03-2178 8888 or send a fax to 03-2171 3171.
If you lose your MBF card while travelling overseas, contact:
- Mastercard Global Service toll-free number at 1-636-722-7111
- Visa Global Customer Assistance toll-free number at 1-443-641-2004
How to Apply for an AmBank Credit Card?
The AmBank credit cards provide an easy and eco-friendly mode of application by allowing aspiring cardholders to apply for the credit card through their website. An applicant can download the application form and submit it along with the required documents to begin processing the credit card application.
Alternatively, you can visit the nearest AmBank branch and submit the forms over the counter or fax the completed application form along with a copy of your I.C. and other income and tax related documents to 603-2162-3067 or 603-2167-3344.
Your application should get processed within 2.5 business days upon receipt of all required documents and information by the bank.
AmBank Credit Card Hotline Number
All card issuers have a customer service helpline staffed round the clock by professionals and accessible via toll-free numbers from anywhere in the world. They will be able to assist you with your queries, complaints or urgent requests for help.
AmBank Customer Service Hotline:
- Ph no. +603-2178-8888/1-300-80-8888
- Fax: 03-2171 3171
If your enquiries/concerns are not completely resolved, you may seek to have the matter reviewed by the following bodies:
- Bank Negara Malaysia (BNM) Tel: 1300-88-5465 (BNM Telelink) Fax: 03-2174 1515 Email: firstname.lastname@example.org
- Financial Mediation Bureau (FMB) Tel: 03-2272 2811
- Agensi Kaunseling dan Pengurusan Kredit (AKPK) Tel: 1800-88-2575 Fax: 03-2616 7601
- What if I fully settle the credit card balance before its maturity?
Ans. For Balance Transfer/QuickCash/Flexi Payment Plan
- Lock In Period - Varies with each promotion.
- Early Settlement Penalty - The bank shall be entitled to debit from cardmember’s account RM100 (Balance Transfer/QuickCash) and RM50 (Flexi Payment Plan) for any early settlement of the amount ahead of the instalment tenure.
- What are my payment obligations?
Ans. Your payment obligations are:
- Minimum monthly repayment of 5% of the outstanding balance or a minimum of RM50, whichever is higher.
- Finance Charges Interest Free Period (Not applicable to Cash Advance and Balance Transfer transactions) is 20 days from the statement date, provided there is no outstanding balance in the credit card account. If you do not pay in full and on time, finance charge on retail transactions will be calculated from the posting date of the transaction.
- How is the maximum card limit computed?
Ans.The maximum card limit is two times the gross monthly income per issuer (refers to basic salary, sales incentive, commission, overtime allowance, etc). For example, if your monthly gross salary is RM3,000, the maximum card limit shall be RM6,000.
- What are the rules regarding transactions outside Malaysia?
Ans. Transactions outside Malaysia will be converted to Ringgit Malaysia on the date the item is received and/or processed. The exchange rate may differ from the published daily rate due to market fluctuations. The conversion rate is as determined by Mastercard International and VISA International plus a 1% foreign exchange conversion markup by AmBank Islamic on the converted Ringgit Malaysia amount.
- What is AmBank 3D Secure? How does it work? What are its benefits?
Ans. 3D secure is the latest online payment service provided by AmBank. 3D secure uses verified by Visa or Mastercard Securecode and protects your card against unauthorized use during online transactions. The AmBank securecode does not require additional software downloads. The cardholder while making purchases online is directed to the bank’s authentication page. The cardholder has to click on request for TAC and a TAC is sent to their mobile number. Cardholders should ensure the bank has their latest mobile numbers. Once the TC has been entered, the purchase is verified.
Click here for all AmBank Credit Card Promotions
Other Products offered by AmBank:
Apart from offering Credit Card,AmBank 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 AmBank Credit Card
Swiping Credit Card Helps AmBank Customer Win Big
Johorean Hairunazuan Nordin, an AmBank credit cardholder swiped his way to a cool sum of RM50,000. The resident of Taman Pagoh Jaya won the grand prize in the Caltex: Fill, Swipe & Win” contest by swiping his credit card to buy fuel for his car.
He was handed over the prize in a ceremony organised at the Caltex Petrol Station in Kuala Lumpur. The refuelling station uses pin-and-pay terminals for card transactions.
The campaign, which was a joint marketing exercise of AmBank and Caltex, has been a raging success with an increase of 14% on year-on-year retail spending and a 35% growth in AmBank card expenditure at Caltex.
To enter the contest, the participants had to register for it using a one-time SMS. They had to refuel at any one of the 420 Caltex stations spending a minimum of RM50 with their AmBank debit or credit cards. The cardholders with a total monthly expenditure of RM200 and RM400 were eligible for an added 25 and 50 contest entries, respectively.
Besides daily cash backs, a RM50,000 grand prize and four RM5,000 monthly cash prizes were awarded. Total cash prizes worth RM70,000 were given away in this contest.
9th January 2017
AmBank anticipates loan growth to escalate more
AmBank expects its loans to grow more in the financial year 2017, compared to the previous financial year in spite of the complicated banking scenario. The CEO of AmBank said that the bank has a good non-performing loan position as well as a firm capital ratio.
The bank has come up with many campaigns recently. The most recent one is for AmBank credit cardholders where 2 cardholders can win an Audi TT 2.0 TFSI whenever they spend RM50 on a single bill. There are also monthly and daily prizes including 30 Samsung Galaxy S7 Edge phones given on a monthly basis and RM50 cashback options given every day.
The bank is seeing a rise in new credit cards also as they are implementing special strategies to attract more new credit card customers.
21st December 2016
AmBank is launching a new phase of mobile banking
AmBank will be launching a new phase of mobile banking. The bank’s CEO is shifting the focus to mobile banking as it is more convenient. The mobile solution will be a part of the new digital banking platform which is supplied by Backbase. The product is highly valuable and agile system. The CEO claims that this will be a quantum leap for the bank’s performance. AmBank implemented Webmethods and middleware form German-based software, AG. AmBank is the 6th largest bank is aiming to be in the top 4 by 2020.
25th November 2016
Profits of AMMB slipped to RM352.6 million for the second quarter
The profits of AMMB Holdings Bhd slipped to RM352.63 million in the second quarter. This was 7.81% lower than it was for the same quarter last year. The profits reduced mainly because of the high operating expenditure. The CEO of AMMB, Datuk Tahir said that the group is well positioned to face the current operating environment. He expects the loan growth to pick up for the financial year 2017.
23rd November 2016
AmBank has plans to boost its card business
AmBank has plans to boost the card business. AmBanks is the 6th largest bank in the country and is aiming to be in the top 4 by 2020. The CEO, Datuk Tahir said that they will be launching new phase of mobile banking very soon. The bank wants to add new features and increase the penetration of the merchant base for the cards. The bank is now focussing on what it has and is trying to understand the environment and how they can align the resources in the areas it can grow.
7th November 2016
AmBank to increase SME lending
AmBank group is aiming to increase the SME lending in partnership with Credit Guarantee Corp. Malaysia Bhd to over RM1 billion. The group signed a Portfolio Guarantee agreement with CGC to offer second tranche in financing to SMEs. Portfolio Guarantee scheme was launched in January 2015. RM300 million will be made accessible to the mid and large SME for meeting their working capital requirements. RM150 million under the scheme is for small SMEs. AmBank Group Managing Director, Pushpa Rajadurai said that they would like to increase the SME lending to RM1 billion and will work with more packages with CGC. Portfolio Guarantee allows CGC and banks to speed up the approval and disbursal of loans to SMEs. Pushpa said that RM300 million is expected to be taken over in the next 6 months. 15% of the second tranche has been utilised already. The first and the second tranche has benefitted 160 SMEs till date. SME segment is the key growth area to increase AmBank’s market share. AmBank is aiming to double its SME portfolio in the next 3-4 years. AmBank has extended up to RM12.15 billion worth of loans to SMEs in Malaysia.
10th August 2016
AmBank’s New Campaign “Win an all-new 2016 Toyota Vellfire with AmBank”.
AmBank (M) Berhad, one of the leading banks in Malaysia, comes up with a new campaign to achieve additional profit of RM1.8bil through its fixed deposits. The campaign has been named as "Win an all-new 2016 Toyota Vellfire with AmBank”. The campaign was launched recently and will be effective form from 31st October. Already, AmBank has been successful in gathering RM500million in fixed deposits. The bank has opened 15,000 new deposits in the last couple of months. The promotion is directed towards the savings/current account holders and credit card holders. The bank aims to target up to 100,000 new credit cards by the end of this year. For credit card holders, the promotion will end on 30th September.
The campaign is a part of AmBank’s effort to encourage customers to save money by investing in fixed deposit and use credit cards to shop for the daily needs. The bank aims to improve the existing sluggish environment by encouraging customers to save more in banks. The campaign would help customers win three Toyota Vellfire cars. What they have to do is to deposit a minimum of RM10, 000 in fixed deposit or term deposit or a minimum of RM1, 000 in savings account/current account; or spend a minimum of RM80 with AmBank Credit Card in a single receipt.
As a part of this campaign, AmBank would provide 200 Samsung Galaxy S7 Edge smartphones to savings/current account owners who deposit RM488, 000 for a period of six months
1st July 2016
AmBank Group Expected to Pay Penalty of RM53.7m to Bank Negara, Malaysia
AMMB Holdings Bhd (AmBank Group) has made an agreement to make a penalty payment of RM53.7 million for non-compliance by its consumer banking and Islamic banking units to Bank Negara Malaysia (BNM).
However, the nature of non-compliance has not been made public. The representatives from Ambank mentioned, "The penalty pertains to action pursuant to section 234 of the Financial Services Act 2013 and section 245 of the Islamic Financial Services Act 2013 with respect to non-compliance with certain regulations by AmBank (M) Bhd and AmBank Islamic Bhd, respectively, “as it filed with Bursa Malaysia on Monday.
Ambank also added, "Moving forward, we have agreed with BNM that we will set aside an average of RM25 million per annum for four years for investment in systems, infrastructure and training.”
25th November 2015