AmBank Islamic’s True Card-i is one of the most useful cards for you to have. It is a card that allows you to buy things you need at lower management fees than a normal credit card. You have to pay a higher fee only if you fail to pay your minimum amount due every month.
Features of AmBank Islamic True Card?i
The salient features of AmBank Islamic True Card-i are mentioned below:
Annual fee waiver: There is no annual fee for the primary card or three supplementary cards. You cannot get more than 3 supplementary cards with an AmBank Islamic True Card-i.
Low management fees: If you make your bill payments regularly every month – even payment of the minimum due amount is enough – then you have to pay a management fee of only 12% p.a. instead of 18%.
Instalment payment plans: There are two kinds of instalment payment plans available with the AmBank Islamic True Card-i: AmFlexi-Pay and 0% Easy Payment Plan. The AmFlexi-Pay allows you to convert any retail transaction into monthly instalments of up to 2 years. You need to make transactions worth at least RM500 or more for a 6-month flexible payment plan, RM2,000 or more for a 12-month plan, RM4,000 or more for an 18-month plan and RM5,000 or more for a 2-year plan. The management fee is 3%, 4%, 5% and 6% respectively, for each of the above tenure. The 0% Easy Payment Plan gives you the choice to convert purchases worth RM500 or more into monthly repayments with 0% management fees of up to 2 years. This facility is only available at certain merchants.
Balance transfer plan: Balance transfer from one bank’s credit card to AmBank Islamic True Card-i can be made at low fees. The 6-month balance transfer with at least RM1,000 comes at a management fee of 4.99% p.a., and 1-year or 2-year balance transfers with at least RM5,000 comes at an interest of 8.99%.
Waiver of credit limit excess fee: You can subscribe to the facility of waiving over-limit fee at a fee of RM53 (including GST). This will ensure that if you ever end up spending more than your allowed credit limit, you do not have to pay an excess limit fee.
Benefits of AmBank Islamic True Card?i
No rewards: The True card-i does not reward you for your purchases but allows you to make purchases on credit at low management fees.
Auto bill payment: You can link your utility bills such as telephone and internet charges as well as insurance premium payments to the True Card-i and activate automatic payment of bills. This Auto Bill Payment service will ensure that your bills are paid as soon as they are generated and you do not miss any payment deadlines.
To apply for the AmBank Islamic True Card-i, you need to be:
At least 21 years old for the primary card;
At least 18 years old for the supplementary card; and
Earning at least RM36,000 in a year.
Fees and Charges
The fees and charges applicable to AmBank Islamic True Card-i are listed below:
Fixed Management Fee
RM900 per month
Management Fee Tiered Rates
1% per month or 12% p.a. if you are paying your bills on time
1.5% per month or 18% p.a. if your bill is not paid the previous month
Minimum Monthly Payment
RM50 or 5% of the bill, whichever is greater
Late Payment Fee
RM10 or 1% of the bill, whichever is greater. Maximum charge is RM100
Cash Advance Fee
RM50 plus GST
Cash Advance Management Fee
1.5% per month or 18% p.a.
Card Replacement Fee
RM25 per card
Monthly Statement Fee (hardcopy)
RM12 plus GST
If you are confident of making regular credit card payments every month, and are looking for a card to help you pay on credit during the month, then the True Card-i is just right for you.