There are more than 3.6 million credit card users in Malaysia and you can be one too. All you have to do is compare the various cards on BBazaar, check your eligibility, and select the one that matches your lifestyle.
The card options are endless—cashback, rewards, groceries, petrol, entertainment, and travel cards, to name a few. Whether you’re a student on a budget or a salaried professional, you can find your choice of card on BBazaar..
Any additional perks? You will get promotional offers, sign-up bonuses, and other exciting offers when you apply for a card through BBazaar.
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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.
Before applying for a card, it’s important to meet the eligibility criteria issued by the bank. The criteria varies and depends on your income level as well as citizenship and employment status. Most banks also require you to be employed with your current company for at least 3 months or in business for at least a year.
Take a look at the main eligibility criteria in Malaysia and see if you qualify before signing up:
|Minimum Income for Application||RM2,000 p.m. or RM24,000 p.a.|
|Minimum Age Requirement for Principal Cardholder||21 years|
|Minimum Age Requirement for Supplementary Cardholder||18 years|
|Citizenship Requirement||Malaysian citizen or Permanent Resident|
There are credit cards for foreigners in Malaysia as well. However, you will require a valid work permit and will need to be employed in Malaysia for a reasonable amount of time.
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.
To get your credit card application approved, you will need to support it with certain documents. The requirement changes based on your employment status, the issuing bank, and the type of card itself.
Check out this infographic to see what documents you will need for your card application:
Here’s a list of main credit card requirement in Malaysia to apply for card:
It’s not that difficult a task to choose the best credit card in Malaysia. However, here are some tips that you may consider while choosing a card:
Choose a category that suits you: Before you select a card, you need to figure out which category you fit into. For instance, if you’re a frequent spender, choose a cashback or rewards card.
Compare the shortlisted cards: Once you have figured out a category, compare various credit cards under that category.
Look for special features: Some cards in Malaysia offer additional features like purchase protection, price guarantee, zero late payment fees, and more.
Check the fine print: Read the terms and conditions as well as the product disclosure sheet. It’s crucial to understand what the card offers and the associated fees and charges.
Pick a card with the best value: Your ideal card should give you the best value on every purchase you make. This could mean no expiry on reward points, no annual fees, or 0% interest on payment plans.
The application process can differ from bank to bank and the type of card, the way to apply for a credit card in Malaysia remains pretty much the same across most banks.
At BBazaar, in just 3 easy steps, you can instantly apply credit card online and choose your preferred card or supplementary card from top card issuers in Malaysia.
Check out BBazaar’s recommendation for the best cards in Malaysia. These cards are picked based on the popularity, benefits, and privileges offered by the card issuers.
|Best for||Best Pick 1||Best Pick 2|
|Cashback||Citi Cash Back Platinum Credit Card||Standard Chartered Justone Platinum MasterCard|
|Travel||Singapore Airlines KrisFlyer American Express Gold Credit Card||HSBC Premier Travel Card|
|Dining||UOB YOLO Credit Card||Hong Leong WISE Platinum Card|
|Rewards||Standard Chartered Visa Platinum||Citi Rewards Platinum Visa Signature/World Mastercard|
|Islamic||BSN Mastercard Platinum Credit Card-i||HSBC Amanah MPower Visa Platinum Credit Card-i|
|No Annual Fee||Alliance Bank You:nique Rebates Card||Citi Simplicity+ Card|
|Balance Transfer||AmBank Platinum Mastercard Credit Card||RHB Smart Move Balance Transfer|
|Petrol||UOB One Platinum Credit Card||PETRONAS Maybank Visa Credit Card|
|Shopping||Maybank 2 Platinum Credit Card||Alliance You:Nique Card|
|Premium||Alliance Bank Visa Infinite Credit Card||Maybank World Mastercard Credit Card|
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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|
Q. How long does the credit card application process take?
A. To get your application approved, you will have to meet the criteria given by the issuing bank. You will also have to submit the relevant documents. While the processing time changes for each card issuer, you should receive your card within 7 to 10 working days once it’s approved.
Q. Can I apply for more than one credit card?
A. Unless you earn lesser than RM36,000 per annum, you can apply for more than one card.
Q. How does the card issuer decide my card limit?
A. If your annual income is under RM36,000, you will receive a credit limit of two times your monthly salary. However, if your annual income is more than RM36,000, the bank will determine the credit limit and communicate this to you. You can also request your bank for an increase in your credit limit.
Q. What are the fees and charges I have to pay for my card?
A. The major fees and charges associated with a credit card are given below:
Q. What’s the best way to use my card?
A. You should apply for a credit card that matches your lifestyle and spending habits. If you travel frequently, choose a card that offers travel-related benefits. There are certain common mistakes you should avoid try to as well.
Q. Can I use my credit card outside Malaysia?
A. 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.
Q. How do I pay my credit card bill every month?
A. The payment methods vary for each card issuer. Some of the most common options are online banking, mobile banking, phone banking, or visiting the bank to clear your dues.
Q. What do I do if I lose my card or it gets stolen?
A. If you lose your card or your card gets stolen, you should immediately reach out to the bank via its customer support number. The bank will get your card blocked in order to avoid any unauthorised transactions.
Q. How does a balance transfer work?
A. 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. You can then repay the transferred amount at a lower rate of interest within a specific tenure.