• Loading your search...
    Close

    Compare, check your eligibility and apply for credit cards online.

  • Credit Card BYTES FROM OUR KITCHEN

    Bank Rakyat Credit Card

    Bank Rakyat is one of the largest Islamic cooperative banking institutions in Malaysia. Since its inception, the bank has grown its offerings to cater to consumer banking, commercial banking, financial planning services, and offering savings and investment products. The bank caters to a wide range of consumers from different walks of life and offers comprehensive and innovative banking solutions. Among its more popular products are its range of credit cards. These cards offer a host of benefits such as takaful cover, reward points, and periodic promotional offers.

    Why Choose Bank Rakyat Credit Card?

    Bank Rakyat’s Shariah-compliant credit cards cater to consumers from different walks of life. The cards are free of any double element or compounding finance charges. The card can be used to make Zakat payments as well. The Bank Rakyat credit cards either offer an annual fee waiver for the first year or come with lifetime annual fee waivers for both principal and supplementary credit cards. The cards are primarily rewards credit cards but allow cardholders to redeem points earned for cash. The cards earn rewards at a rate of 1 point for every RM10 charged to the card. The points earned can be redeemed for cash at the rate of 10 points for RM0.10. The cards also offer a takaful cover on the outstanding balance of the card and nominated heirs can get a death benefit of up to RM1,000 in the unfortunate event of the cardholder’s death.

    Features and benefits of Bank Rakyat Credit Cards

    The following are the various features and benefits of Bank Rakyat credit cards:

    • The cards are Shariah-compliant and are free of any double element.
    • The annual fees of most credit cards are waived permanently.
    • The card offers a takaful cover for cardholders. The takaful cover is for the outstanding balance on the credit card and clears the balance if the cardholder meets his/her demise or is rendered totally and permanently disabled and unable to get gainful employment.
    • The cards also offer a death benefit. The death benefit is provided to the heirs nominated by the cardholder. Heirs will receive a death benefit of RM1,000 in the unfortunate event of the cardholder’s death.
    • Bank Rakyat credit cards earn reward points on expenses charged to it. The points are earned at the rate of 1 reward point for every RM10 charged to the card. The reward points can be redeemed for cash at the rate of 10 reward points for every RM10 charged to the card.
    • The cards can be used to make Zakat payments.
    • The cards offer periodic promotional deals and discounts along with the monthly credit card statement under the bank’s MOTO program.

    Types of Credit Cards offered by Bank Rakyat

    The following are the various types of credit cards offered by Bank Rakyat:

    1. Bank Rakyat Platinum Card: The Platinum card from Bank Rakyat offers attractive benefits at an affordable rate. The annual fee of the card is waived for the first year without any strings attached. The card is free of any double element which might compound finance charges. The cardholder can also enjoy a takaful cover on the outstanding balance of the card and can prevent any financial burden from passing on to their family members in case of their unfortunate demise. Cardholders can also use the card to make Zakat payments and will also receive periodic promotional offers along with their monthly credit card statement under the bank’s MOTO program.
    2. Bank Rakyat Gold Card: The Gold card from Bank Rakyat offers cardholders protection and convenience at an affordable rate. The profit rates of the card start at 13.5% p.a. for cardholders with a good payment record. Cardholders can also receive a complimentary takaful cover which takes care of any outstanding balance in the unfortunate event of the cardholder’s demise or if the cardholder has been rendered totally and permanently disabled. The nominated heir will also receive a death benefit of RM1,000 in case of the cardholder’s death. The card has a lifetime annual fee waiver on without any strings or conditions attached. The card is a rewards card and earns 1 point for every RM10 charged to the card which can be converted into cash at the rate of 10 reward points for RM0.10.
    3. Bank Rakyat Classic Card: The Classic card from Bank Rakyat is an ideal card for daily use and offers a host of benefits to the holder. Cardholders can enjoy the benefits of the card for an affordable profit rate starting at 13.5% p.a. for people with good payment records. The card is also free of any double element and can be used to make Zakat payments. Expenses charged to the card will fetch reward points for the cardholders. The card earns 1 reward point for every RM10 charged to it, which can be redeemed for cash at the rate of 10 reward points for RM0.10. The card also has a complimentary takaful cover on the outstanding balance of the card and in the unfortunate case of the cardholder’s demise, the nominated heir will receive a death benefit of RM1,000.
    4. Bank Rakyat TISB Card: The Bank Rakyat TISB card offers cardholders not just a convenient mode of payment but also provides them with protection. The card offers a complimentary takaful cover which covers any outstanding balances on the card in case of the cardholder’s death or total permanent disablement. The card also offers a death benefit of RM1,000 to the nominated heir in case of the cardholder’s death. The card provides a group family takaful having a total cover of RM7,500 free for the first year. The card also offers Group Self-Accident Takaful Cover which has a total cover of RM25,000 free for the first year. For select non-motorised products, the cardholder can get a rebate of up to 25%. The card also earns 1 reward point for every RM10 charged to it and can be redeemed for cash at the rate of 10 points for RM0.10
    5. Bank Rakyat Muslimah Card: The Muslimah card is one of the first of its kind credit cards catering to women. The card comes with a slew of attractive benefits such as a perpetual waiver on the annual fees, a free family takaful cover with a death benefit of RM1,000, the facility to convert transactions of RM1,000 or more in a single receipt into flexible instalments with tenures of up to 24 months, and a zero mark-up on overseas transactions. Other benefits of the card include a complimentary grooming workshop carried out in collaboration with Pn Emi Idura Hashim-Image Consultants and a free gourmet class with a professional chef.

    Eligibility Criteria to avail Bank Rakyat Credit Card

    If interested applicants wish to get a Bank Rakyat Credit Card, they must meet the following eligibility requirements:

    • The minimum age required to acquire a principal credit card is 21 years.
    • The minimum age required to acquire a supplementary credit card is 18 years.
    • The maximum age of the principal cardholder must not exceed 65 years in order to qualify for takaful cover.
    • The minimum annual requirement will be as follows:
    • Bank Rakyat Platinum Card –RM60,000
    • Bank Rakyat Gold Card –RM36,000
    • Bank Rakyat Classic Card –RM24,000 to RM36,000
    • Bank Rakyat TISB Card – RM36,000
    • Bank Rakyat Muslimah Card – RM24,000

    Documents Requirements to apply for Bank Rakyat Credit Cards

    Cardholders are required to submit the following documents when submitting the duly filled application form:

    Salaried applicants:

    • Copy of the applicant’s NRIC or Identity Card, both front and back or
    • Copy of Valid Passport
    • Copy of most recent salary statement
    • Copy of the most recent EPF statement or
    • Copy of most recent EA Form

    Self-employed applicants:

    • Copy of the applicant’s NRIC or Identity Card, both front and Back or
    • Copy of Form 9/24/49 or Business Registration Certificate
    • 3 months bank statements
    • Most recent B Form with tax payment receipt

    Foreign Applicants:

    • Copy of Valid Passport with valid work permit
    • Copy of confirmation letter from Employer

    Bank Rakyat Credit Card Promotions

    Bank Rakyat is one of the fastest growing Shariah-based cooperative banking institutions in Malaysia and offers a range of credit cards that not only reward its cardholders with reward points on every expense charged to the card, but also provides a host of value-added features such as fee waivers and takaful cover. The cardholders are also treated to promotional offers such as discounts or perks at select merchant outlets on a periodic basis.

    Promotional offers on Bank Rakyat credit cards include health and beauty offers such as discounts at select spas, can enjoy discounts on travel packages, vouchers and discounts when shopping at select boutique outlets, lifestyle perks such as discounted memberships at select gyms and a range of other promotional deals.

    Bank Rakyat Balance Transfer

    • With the Bank Rakyat credit cards, cardholders can manage their finances effectively. The card comes equipped with lowered profit rates for good payment records and plans like the Flexi Instalment Plan. The balance transfer plan available is perhaps the most helpful of all the plans offered with the Bank Rakyat credit cards and allows cardholders to manage any outstanding credit card dues accumulated on other bank credit cards before it gets out of hand.
    • The plan offers lower interest rates which makes it easier to pay of the outstanding dues and also save a lot of money which would have otherwise been lost to higher interest rates in the process.
    • The plan is open to all Bank Rakyat principal cardholders and allows them to transfer an amount equal to 100% of their available credit limit on the Bank Rakyat card. The plan does not charge any additional processing fee and offers a low interest rate of 0.25% per month for the first 3 months of the balance transfer tenure and 13.5% p.a. from the 4th month onwards.

    Fees and Charges

    The following are the fees and charges applicable to the credit cards:

    Annual fees – Principal cards

    Bank Rakyat Platinum Card – RM388

    Bank Rakyat Gold Card – Waived for life

    Bank Rakyat Classic Card – Waived for life

    Bank Rakyat TISB Card – Waived for life

    Bank Rakyat Muslimah Card – Waived for life

    Annual fees – Supplementary cards

    Bank Rakyat Platinum Card – RM159

    Bank Rakyat Gold Card – Waived for life

    Bank Rakyat Classic Card – Waived for life

    Bank Rakyat TISB Card – Waived for life

    Bank Rakyat Muslimah Card – Waived for life

    Finance charge on retail transactions 13.5% p.a. to 18% p.a. for cardholders who are not members of Bank Rakyat Share 13% p.a. to 17.% p.a. for cardholders who are members of Bank Rakyat Share
    Finance charge on cash advance 18% p.a.
    Cash advance fee

    The higher of RM21.20 or 3% of the amount advanced at Bank Rakyat ATMs.

    The higher of RM21.20 or 5% of amount withdrawn at other bank ATMs.

    Late payment charge 1% of the amount due or RM10 with a maximum fee of RM100
    Minimum monthly repayment The higher of RM50 or 5% of the outstanding balance.
    Interest-free period 20 days
    Additional statement fee RM5.30 per copy
    Sales draft retrieval fee RM15.90 for original RM5.30 for copy
    Card replacement fee RM50 for every replacement
    Conversion for overseas transaction Overseas transactions are converted into US Dollars and then into Malaysian Ringgit using exchange rate determined by MasterCard International.

    How to apply for a Bank Rakyat Credit Card?

    Applicants can apply for a Bank Rakyat Credit Card through the following ways:

    • Applicants can find and download the application form for the desired credit card on the Bank Rakyat website. The duly filled application form must be submitted along with the required supporting documents.
    • Applicants can also visit their nearest Bank Rakyat branch and request to apply for the desired credit card.

    How to increase Bank Rakyat Credit Card limit?

    • With life being as unpredictable as is, it becomes necessary to have the required funds on hand to tackle any emergency expenses should the need arise. Many a times, cardholders might find themselves in need of extra finances simply because they have a shortage of funds or may be the funds are tied up in investments or deposits. Whatever the reason may be, Bank Rakyat allows cardholders to have their credit limit temporarily or permanently increased provided they have had an increase in their salary their payment record is in good standing.
    • Cardholders can find the increase/decrease credit limit form on the bank’s website. Cardholders must submit this duly filled form along with supporting documents such as the most recent 2 months’ payslip, the most recent EPF statement or any other document the bank might require to kkredit@bankrakyat.com.my or fax the form to 03-22601145.

    Bank Rakyat Credit Card Customer Care / Hotline Number

    The customer hot line numbers for Bank Rakyat are as follows:

    • For 24-hour hotline: 603-2693 6880
    • For reporting lost cards: 603-2692 4600

    Bank Rakyat Credit Card FAQs

    Q. Can the Bank Rakyat credit cards be used overseas?

    A. Yes, cardholders can use the cards overseas at any establishment or ATM that will accept a MasterCard credit card. The credit cards can be used for purchases as well as cash withdrawals.

    Q. Do profit rates offered depend on payment record of the cardholder?

    A. Profit rates offered range from 13.5% for Tier 1 cardholders who make prompt minimum monthly payments for 9 consecutive months, 17% for Tier 2 cardholders who make 6 or more consecutive payments in a 9-month period and 18% for Tier 3 cardholders who do not belong to either of the categories. Cardholders who are members of Bank Rakyat Share receive even lower profit rates of 13% p.a. for Tier 1 cardholders, 15.5% p.a. for Tier 2 cardholders and 17% p.a. for Tier 3 cardholders.

    Q. Is there any exit fee charged on the balance transfer plan?

    A. No. Cardholders who apply for the Bank Rakyat balance transfer plan will face no additional charges such as processing fees or early settlement/exit fees.

    Q. Is there any fixed tenure available on the balance transfer plan?

    A. No. Cardholders can enjoy a balance transfer plan that comes with no pre-set period. The plan does have a pre-set interest rate of 3% p.a. or 0.25% per month applicable only for the first 3 months after which the plan charges an interest rate of 13.5% p.a.

    Q. Is there any mark-up on overseas transactions made on the cards?

    A. Overseas transactions made using Bank Rakyat cards are converted into USD and then converted into Malaysian Ringgit using an applicable exchange rate set by MasterCard. There is no additional mark-up imposed on the transactions.

    Q. What is the minimum transaction amount required to convert the transaction into a flexible payment plan?

    A. The minimum amount required is RM1,000.

    Q. How long does it take to have the credit limit on the cards successfully increased?

    A. Provided the cardholder has submitted the required documents and has sufficient income and a good payment record, the application may take anywhere between 5 to 7 working days to get processed. Cardholders will be notified of the application status via SMS.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.