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    Bankbazaar <strong>Credit Cards in Malaysia</strong>

    We found 34 Credit Cards in Malaysia
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  • Credit Card BYTES FROM OUR KITCHEN

    Credit Cards in Malaysia

    Find the best credit cards in Malaysia from all major credit card issuers. BBazaar lets you easily compare and apply credit card for your personal needs and gives you the option to select the card based on your lifestyle. Compare credit cards from various category including cash back, rewards, travel, balance transfer, petrol etc. BBazaar has credit cards for all whether you are a student, fresh graduates, salaried professional, self-employed, or expats in Malaysia.

    Get your ideal credit card in Malaysia with latest promotions, sign up bonus and exciting offers when you apply for credit card application online with us.

    Quick Links

    Select the best credit cards by category from all major banks in Malaysia

    Not sure what credit card is best for you or which credit card is better? Finding credit card based on your lifestyle is really simple here, just select the card category, check eligibility, compare and apply credit card online.

    Credit Card Eligibility in Malaysia

    To check and apply for any credit card in Malaysia, there are certain important eligibility criteria that you should satisfy. These criteria can be distinguished based on your income level, citizenship status, and employment status. Here are the main credit card eligibility in Malaysia, find out if you are qualify for a credit card even before you apply:

    Minimum Salary to Apply for Credit Card in Malaysia RM2,000 per month or RM24,000 per annum.
    Age of Principal Cardholder 21 Years
    Age of Supplementary Cardholder 18 Years
    Citizen Malaysian Citizen or be a Permanent Resident of the country.

    Most banks require you to have been in employment with your current company for at least 3 months or have been in business for at least a year. Some Malaysian banks also accept credit card applications from foreigners if they have a valid work permit and have been employed in Malaysia for a reasonable amount of time.

    Requirements for Applying Credit Card Application

    Just like there are different criteria for you to satisfy before you apply for a credit card in Malaysia, there are specific documents that you need to pair up with your application for successful approval. The kind of documents you need vary according to your employment status, the card issuing bank, and the type of card itself.

    Here’s a list of main credit card requirement in Malaysia to apply for card:

    For Salaried Professionals

    • Copy of NRIC/MyKad
    • Recent utility bill if current residential address isn’t the same as that on NRIC/MyKad
    • Latest 6 months' payslips
    • Latest EA statement
    • EPF statement
    • Last 6 months' bank statement

    For Self-Employed

    • Copy of NRIC/MyKad
    • Recent utility bill if current residential address isn’t the same as that on NRIC/MyKad
    • Form B
    • Business Registration Certificate/Form 9, 24, 49
    • Latest income tax return
    • Last 6 months' bank statement

    Variable Income Earners

    • Copy of NRIC/MyKad
    • Recent utility bill if current residential address isn’t the same as that on NRIC/MyKad
    • Latest 6 months' overtime being reflected on salary slips
    • Latest 6 months’ commission statements
    • Latest 3 years’ dividend statements
    • Latest 3 years’ interest statements

    Foreigners and Expatriates

    • Copy of passport
    • Copy of work permit
    • Letter of confirmation from employer
    • Latest 6 months’ payslips

    Credit Cards Fees and Charges

    Fees and charges for cards in Malaysia can vary from one bank to another and at times, according to the type of card itself.

    Type of Fees or Charges What Does it Mean? Range of the Fee/Charge
    Annual fees This fee is what you pay to use all the features and benefits that come with a credit card for a year. RM0 – RM1060
    Minimum monthly payment This is the minimum due amount you should pay every month to continue using the card. 5% of the outstanding balance or RM50, whichever is higher.
    Late payment charge This is the amount you need to pay if you miss any of your monthly payments. 1% of the outstanding balance or a minimum of RM10 to a maximum of RM100.
    Cash advance fee This is the fee to be paid if you use your credit card to withdraw cash from an ATM. RM10.60 to 5.3% of the total cash advance amount.
    Retrieval request fee This fee is if you wish to request for a copy of the sales draft in order to substantiate a specific transaction. RM15 – RM21.20 per copy.
    Card replacement fee This fee has to be paid if you want a replacement card in case your original card was lost or stolen. RM0 – RM50
    Statement request fee This fee should be paid if you want a duplicate monthly statement sent to you physically. RM5 – RM5.30
    Overlimit fee This fee comes into play when you exceed your card’s assigned credit limit. RM26.50

    How Do You Choose the Best Credit Card?

    Choosing the best credit card in Malaysia should be a relatively simple process once you’re familiar with how the card works. To make things simpler, here’s a couple of things that you’d do well to follow:

    • Know your credit score: There are several ways by which you can check your credit score online. Knowing your score will give you a really good idea of what card you can apply for and what’s out of your reach. You’ll also know how great your chances are of getting your application approved.
    • Pick a card that suits you: To begin with, make a checklist of what you really spend on and how much you spend on it. Always pick a card that suits your spending habits. Make sure that the card you’ve picked offers you the most value for every expense you charge to it.
    • Check the fine print: It always pays to be careful. Credit cards come with a whole host of terms and conditions, which when ignored can end up costing you dearly. Keep in mind to always read up on the card’s terms and conditions, whether it’s for the card features or its promotional offers. Knowing the associated fees and charges of the card is equally important as it gives you an idea of what it costs to use that card.
    • Look for over-the-top features: Most credit cards in Malaysia come with certain special features that are offered in addition to the regular features. Such features can include purchase protection, price guarantee, zero late payment fees, etc.
    • Compare and contrast: The last major step involves making a comparison of all cards that you’ve shortlisted. As you compare one card with another, you’ll be able to tell the difference clearly as to which one offers a better value for every purchase you make using the card. You can also use helpful tools like online calculators to see the number of points or cashback you can earn with a certain amount of spending.

    BBazaar's Best Credit Cards of 2018

    Updated on 06th June 2018

    Check out BBazaar’s recommendation for best credit cards in Malaysia. These credit cards are picked based on the popularity, benefits and privileges offered by card issuers.

    Best for Best Pick 1 Best Pick 2
    Cashback Citi Cash Back Platinum Credit Card Standard Chartered Justone Platinum MasterCard
    Travel Maybank 2 Cards Premier OCBC Premier Voyage MasterCard
    Dining Hong Leong WISE Platinum Visa Card Maybank 2 Cards Premier
    Rewards Alliance Bank Visa Infinite Card Maybank 2 Gold Cards
    Islamic Maybank Islamic Mastercard Ikhwan Gold Card RHB Islamic Platinum Credit Card-i
    No Annual Fee Maybank 2 Gold Card AmBank Visa Infinite
    Balance Transfer Citi Simplicity+ Card RHB Smart Move Balance Transfer
    Petrol Standard Chartered JustOne Platinum Mastercard CIMB Petronas Platinum Credit Card
    Shopping CIMB Cash Rebate Platinum Credit Card RHB Islamic Smart Value-i
    Premium Citi Prestige Card UOB Visa Infinite

    Benefits of Credit Cards

    Having a credit card isn’t just about making purchases on credit, spending responsibly, and paying your dues in full every month. There’s plenty of ways how you can take advantage of having a credit card in your wallet.

    Sign-Up Offers: There’s nothing better than being rewarded without having to work too hard. Sign-up promotions are precisely this.All you need to do is sign up with a particular credit card company to enjoy rewards, such as bonus points, discounted airfares, travel perks, waiver of annual fees, cash rebates, etc. Most such offers come with specific terms like a minimum spend requirement in the first year, successful card approval and activation, etc.

    Reward Programs: These programs allow you to earn a multitude of rewards in proportion to the amount of money you spend using your credit card. Such programs offer rewards, including air miles, points, cashback, and rebates based on your spending across various categories, such as dining, shopping, online transactions, overseas purchases, etc.

    Frequent Flyer Miles: If travelling by air is your go-to option whenever you need to travel, then pick a credit card that focuses on this rewards category. With every purchase you make, you’ll earn air miles or points that can be redeemed for air miles from frequent flyer programs. The air miles redeemed can be used with a partner airline for discounted airfares, seat upgrades, or even free flights.

    Reward Points: Most credit cards in Malaysia allow you to earn points on all kinds of purchases, whether it’s in a department store or on an e-commerce website. You can accumulate these points and redeem them later for a wide variety of gifts, vouchers, and exclusive privileges.

    Cashback: Based on the type of credit card you have, you can earn a percentage of what you spend as cashback. This cashback can be paid back into your credit account and be used to pay your outstanding balance, annual fees, or even future purchases.

    Travel Perks: Credit cards in Malaysia can provide you with a whole lot of travel benefits. From frequent flyer miles and discounted accommodation to complimentary travel insurance and airport lounge access, you stand to gain quite a lot by using such cards.

    Price Guarantee: A price guarantee benefit in a credit card works as a form of insurance wherein you’re protected against changes in price for a particular product. Simply put, if you’ve bought a product for a certain value and its price drops in a couple of days, your card issuer will cover the difference if you furnish enough proof. However, this benefit is governed by a lot of terms and conditions.

    Purchase Protection: This benefit is another form of insurance that covers you against accidental damage or theft of any product you’ve bought using the card. This cover is usually valid for a certain period of time from the date of purchase.

    Credit History: Although improper use of a credit card can wreak havoc on your credit score and finances, responsible usage can do wonders for your credit history. By keeping your spending to a minimum and paying your outstanding balance in full on time every month, you can build a positive credit score and eventually improve your overall credit rating.

    Interest-Free Period: Credit Cards come with an interest-free period of 20 days. This means that all retail transactions made during this ensuing period from the statement date will not accrue interest as long as you pay them off in full within this period.

    Features of Credit Cards

    All Credit Cards in Malaysia come with their own unique features. These features are what makes each card a highly flexible and useful payment option. Here are some important features of Malaysian credit cards that you’d do well to know about:

    Annual Fees: One of the most common terms you’ll come across when using a card is annual fees. This fee is charged to your credit account automatically in return for all the features and benefits your card provides you. Keep in mind that cards with an increasing number of benefits attract higher annual fees.

    Joining Fees: As you can probably understand from the name, joining fees come into play when you’ve applied for a new credit card. This charge is what you’ll have to pay to have a new credit account with a bank. The joining fees you’ll pay for a card depends on the type of credit card and the issuing bank.

    Billing Cycle/Period: Put simply, a billing cycle is the period of time between billings for any credit account. The number of days in a billing period can differ according to the kind of credit card being used and the issuing bank. The billing period for most credit cards in Malaysia usually is about 30-days long.

    Card Statement: A credit card statement is a complete summary of all transactions that you’ve made using your card within a specific billing cycle. A card statement will also tell you what your outstanding balance is and how much you’ll need to pay as a minimum amount to continue using your credit card. Banks will send you a statement every month. You can choose to receive your card statement either by email or by post. You can also get a duplicate statement if you’ve misplaced your original one for an additional fee.

    Bill Payment: Once your card statement is generated, you’ll have an option to either pay your full outstanding balance or the minimum dues on or before a preset payment date. All dues left unpaid will attract interest that’s carried over to the next billing cycle. Banks in Malaysia offer a whole host of options when it comes to credit card payments. You can pay your card dues through internet banking and phone banking channels. If you wish to handle things in person, you can also pay your credit card balance by visiting the nearest branch of the issuing bank.

    Card Alerts/Notifications: From real-time purchase alerts and bill payment reminders to credit balance alerts and statement generation notifications, there’s plenty of notification options that you can sign up for when you use a credit card. These options help you stay abreast of whatever’s happening with your credit card account. Such alerts keep you notified even in case of fraudulent transactions, if any.

    Global Acceptance: It’s a widely known fact that credit cards are accepted almost everywhere across the world as they provide a high level of security and flexibility when it comes to financial transactions. Most credit cards in Malaysia are tied with a number of payment networks, such as Visa, MasterCard, and American Express. These networks process all payments made between banks and merchant outlets. Cards that are partnered with such networks are universally accepted as a mode of payment.

    24/7 Assistance: It’s impossible to know all the terms and conditions that govern the usage of any credit card, especially when you’re a first-time user. But, banks don’t just leave you hanging when you really need help. Most card-issuing banks in Malaysia have an exclusive helpline for their cardholders. You can seek help on all kinds of card-related topics, including billing details, promotional offers, transaction charges, bill payment channels, etc. You can also report fraudulent and disputed transactions or loss or theft of your card.

    Lost Card Liability: You can never be too careful about a credit card. If your credit card gets lost, misplaced, or stolen, there’s every possibility that it can be misused. Most card issuers in Malaysia provide you with zero lost card liability cover. This means that you won’t be held responsible for any kind of transaction that’s made with your card after you’ve reported it to be lost.

    Credit Card Loans: If you’ve been a responsible card user and have always made your payments in time, card issuers in Malaysia have the option of providing you with a pre-approved loan that usually comes at a low interest rate when compared to other regular loan facilities.

    Balance Transfer: Cards issuing banks in Malaysia offer this facility to their cardholders wherein you can transfer any outstanding balance you have on another bank’s credit card to your existing card. You’re then allowed to repay this balance in the form of monthly instalments over a flexible repayment period at a relatively low interest rate.

    Instalment Payment Plan: This common feature of credit cards lets you convert a large retail transaction carried out in a single receipt into smaller, affordable monthly instalments. The interest rates for such conversions can vary from one bank to another. Most Malaysian banks offer 0% interest payment plans too.

    Cash Advance: With this feature, you can use your credit card to withdraw cash from an ATM. There’s a limit on the amount you can withdraw and it usually is a percentage of your credit limit. You’ll have to pay a fee to use this facility and interest on the amount that’s borrowed.

    Insurance Cover: Besides being an effective financial tool, credit cards in Malaysia also come with complimentary insurance coverage. Such cover can either be in the form of travel and personal accident insurance or even life insurance in some cases.

    Apply for a Credit Card in Malaysia

    Although the application process can differ according to the bank and the type of card, the way to apply for a credit card in Malaysia remains pretty much the same across most banks. These are the steps how you can apply for a Malaysian credit card according to your convenience:

    1. Visit the issuing bank’s nearest branch and fill out the application form in person.
    2. Get in touch with the issuing bank’s customer service team and apply for a card through the phone banking channel.
    3. Visit the issuing bank’s official website and apply for the card online by filling out the card application or request form.

    Different Types of Credit Cards in Malaysia

    Based on individual features and benefits, credit cards can be grouped under multiple categories. Here’s an extensive list of the main types of credit cards in Malaysia and how each type of card can be useful to you as a card user:

    1. Cashback Credit Card: This type of credit card lets you earn a percentage of what you spend on any product as cashback. The amount of cashback you can earn is usually calculated from your total monthly spend.
    2. Rewards Credit Card: A rewards credit card lets you earn points in proportion to the amount of money you spend using the card. These reward points earned can be redeemed for a wide variety of travel perks, lifestyle privileges, items from a gift catalogue or even cash rebates.
    3. Petrol Credit Card: This kind of credit card helps you save more on your fuel expenses by offering petrol-related benefits. You can earn cashback and get discounts when you fuel up at select stations or earn points that you can redeem later for multiple rewards.
    4. Travel Credit Card: For every purchase you make using this card, you can earn points or air miles that you can convert to discounted air fares and hotel accommodations. Most travel cards even come with complimentary travel insurance cover.
    5. Islamic Credit Card: This credit card adheres to Islamic principles of financing and is Shariah-compliant. Although an Islamic card functions much the same way as a conventional credit card, it can only be used for halal transactions. In addition, Islamic cards charge a profit rate instead of interest.
    6. No Annual Fees Credit Card: Any credit card whose annual fees has been waived for one reason or another falls under this category. Some cards may even come with a conditional annual fee waiver wherein you’ll have to spend a minimum amount in a year or use the card for a minimum number of times annually.
    7. Premium Credit Card: Besides being a status symbol for what it takes to have one, premium credit cards offer an extensive range of benefits and exclusive privileges, whether it’s dining, travel, or shopping. The annual fees for such cards is quite high and so is the credit limit. However, the rewards you get in return more than make up for what you pay to have the card.
    8. Entertainment Credit Card: These credit cards offer great value when it comes to providing entertainment benefits. Whether you’re a movie buff or love to visit theme parks, these cards offer a whole lot of rewards in the entertainment sector, including cash rebates, discounts, and reward points.
    9. Dining Credit Card: This credit card is the way to go when you need access to a slew of exclusive dining perks and privileges. From discounts on your food bill to redeemable points on restaurant spends, these credit cards will make sure that your dining experience is guilt-free and affordable every time.
    10. Shopping Credit Card: This kind of credit card helps you make the most of every shopping trip. You can earn multiple reward points, cashback, or enjoy a discount on every purchase you make using the card. Most shopping cards even let you convert large purchases into smaller monthly instalments at a low rate of interest.
    11. Lifestyle Credit Card: These credit cards help you save on your lifestyle expenses by letting you earn substantial rewards, such as cash rebates, discounts, and bonus points. Such cards come with a range of exclusive privileges, including access to big-stage events, movie screenings, music shows, golf courses, etc.
    12. Insurance Credit Card: These credit cards let you enjoy the best of insurance-related perks, including cash rebates and discounts on your insurance premium. You can also earn reward points on your premium amount. Most insurance cards even come with complimentary travel and personal accident cover.
    13. Utility Credit Card: This type of credit card allows you to earn reward points, cashback, and enjoy discounts on your utility bill payments. Most of these cards come with special features like auto debit, which ensures that all your utility bills are paid on time without you having to do anything about it.
    14. Health Care Credit Card: A health care credit card can be extremely useful to have, especially when you’re in need of immediate medical assistance while travelling overseas. These cards can allow you to enjoy a discount when you seek medical attention overseas and even provide you with vital insurance cover during a medical emergency.
    15. Grocery Credit Card: These credit cards let you earn plenty of rewards on your grocery spends. From discounts and cashback to bonus points and rebates, the amount of rewards you earn can increase if you shop at partnering grocery stores.

    Credit Card Companies in Malaysia

    Credit Card Frequently Asked Question’s

    A primary card is designed for the credit account holder. Whereas a supplementary card is for the account holder’s family members like wife, parents, or children.

    The eligibility criteria is a combination of age, income requirement, and nationality criterion. Most of the primary cards are open for individuals who are 21 years old or older, whereas a supplementary card’s minimum age requirement is 18 years. The minimum income requirement may vary from card to card.

    A cashback or cash rebate card earns you a rebate every time you use your card for a retail transaction. This cash rebate is directly transferred to your credit account. Whereas a rewards card earns you rewards points with all purchases. You can accumulate these points to get discounts, Air Miles, and to offset the annual fee of your card.

    When you use your credit card to access funds in the form of cash, it is called cash advance. This comes with multiple fees and charges like cash transaction fee, ATM fee, and finance charges. Using your card for withdrawing cash overseas comes with an overseas transaction fee also.

    Yes, you can use your card outside Malaysia provided you have activated it for overseas use. You will be charged with an additional overseas transaction fee that is a combination of a fee charged by Visa or MasterCard International and any administration fee charged by the card issuing bank.

    The major fees and charges associated with a credit card are given below:

    • Finance charges: Generally ranges from 15% p.a. to 18% p.a. depending upon your repayment behaviour in the past 12 months.
    • Annual fee: May vary from bank to bank.
    • Monthly payment: A minimum of RM50 or 5% of the total outstanding amount.
    • Late payment charges: 1% of the amount of the due instalment charged on a daily basis.
    • Card replacement fee: Can vary from bank to bank.
    • Cash withdrawal fee: Can vary from card to card and bank to bank.

    If you lose your card or your card gets stolen, you should reach out to the bank via its customer support number and get the card blocked in order to avoid any misuse of any kind.

    A balance transfer feature on your credit card lets you transfer the outstanding balance accrued on credit cards issued by other banks onto your credit card and allows you to repay the transferred amount at a lower rate of interest within a specific tenure.

    A prepaid card uses the funds you put into from your savings or current account, whereas a credit card uses the credit limit assigned to it. In a prepaid card, you use your own money while with a credit card, you borrow funds from the bank.

    You can track your expenses using monthly e-statements, online banking, and mobile banking.

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