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Best Balance Transfer Credit Cards of 2018

A balance transfer facility allows you to consolidate the outstanding balances from different credit cards into one credit card. You can save on the interest/profit rate when you consolidate the balances. Some credit cards provide 0% interest rate. Sometimes, 0% interest is applicable only for a certain repayment period.

Best Credit Cards for Balance Transfer

Best Malaysian banks’ balance transfer (BT) schemes 2018

Updated on 4th September 2018

Card Name
Balance Transfer Interest Rate
Minimum Balance Transfer Amount
Tenure
Know More

From 0% to 6.99% p.a.

RM1,000

6 or 12 months

From 0% p.a. to 4.88% p.a.

RM4,000 for the 0% p.a. plan.

RM1,000 for the 4.88 p.a. plan.

12, 24, or 36 months

From 0% p.a. to 7.99% p.a.

RM3,000 for the 0% p.a. plan.

RM1,000 for all other plans.

12, 18, or 24 months.

From 4.99% p.a. to 6.99% p.a.

RM1,000

6 or 12 months; lifetime repayment option available.

From 0% p.a. to 9% p.a.

RM2,000 for the 4.95% p.a. and the 4.50% p.a. plans.

RM1,000 for all other plans.

6, 9, 12, 24, and 36 months.

From 3% p.a. to 6% p.a.

RM1,000.

6, 12, or 18 months.

0% p.a.

RM1,000.

6 months.

From 0% p.m. to 0.375% p.m.

RM500 for the 3 months plan.

RM2,000 for the 36 months plan.

RM1,000 for all other plans.

3, 6, 9, 12, 24, and 36 months.

HSBC Visa Signature Credit Card

Get rewarded when you spend on retail or online purchases in Malaysia or abroad. The various benefits you can get from the card are given below.

Key Benefits

  • Enjoy up to 8x reward points when you spend overseas.
  • Get up to 5x reward points on online spend.
  • Collect up to 5x reward points on every ringgit spent at selected local malls.
Additional Points Description
How to Use it
  • Redeem the reward points for vouchers and gifts available on the HSBC Rewards Catalogue.
  • Redeem the accumulated reward points for Air Miles.
Good about it
  • Get discounts at above 6,500 shopping outlets with the SmartPrivileges programme.
Keep in Mind
  • Get complimentary Plaza Premium Lounge access.
  • Reward points are not offered when you spend with the card for petrol purchase.

Who should get it

  • Those who spend on retail purchases overseas.
  • Those who shop at local malls.
  • Those who make online purchases.

AmBank Visa Infinite Credit Card

AmBank Visa Infinite Credit Card is an invitation-only card. The bank invites the customers based on various criteria such as annual income and their relationship with the bank.

Key Benefits

  • Earn 5x AmBonus Points on every RM1 spent abroad.
  • Get a complimentary travel insurance of up to RM2 million.
Additional Points Description
How to Use it
  • Redeem free flights of over 50 airline partners such as Singapore Airlines KrisFlyer, Enrich, and AirAsia BIG.
  • Redeem 5,000 AmBonus Points for 1,000 Air Miles.
  • You can also redeem gifts from the redemption catalogue.
  • Spot redemption of the reward points is available at select merchant outlets.
Good about it
  • New customers can get the balance transfer plan for 12 months at just 0% p.a.
  • Enjoy complimentary green fees at exclusive golf clubs.
  • Get airport lounge access at more than 26 major airports of the world.
Keep in Mind
  • The AmBonus Points are not offered for spending on petrol.
  • The AmBonus Points are valid for 3 years only.

Who should get it

  • Those who travel abroad frequently.
  • Those who make purchases overseas.

Alliance Bank Classic Card

The Classic Card comes with a specified credit limit and the retail transactions you make with the card includes a finance charge in certain cases.

Key Benefits

  • Get a repayment tenure from 12 months to 24 months on balance transfer.
  • Earn 1 Timeless Bonus Points (TBP) on every RM1 you spend on retail purchases in Malaysia and overseas.
Additional Points Description
How to Use it
  • Redeem 1000 Enrich Miles with 6000 TBP.
  • Redeem 1000 AirAsia BIG Points with 3000 TBP.
Good about it
  • New balance transfer applicants can enjoy the facility for 0% interest for a tenure of 6 months with a minimum transfer amount of RM3,000.
  • Enjoy exclusive privileges at select merchant partner outlets.
  • The card is accepted worldwide.
Keep in Mind
  • Spend a minimum of RM5,000 or a minimum of 12 swipes within the last 12 months to get a waiver on the annual fee.
  • TBP is not awarded for spending on petrol and government-related transactions.

Who should get it

  • Those who spend on retail transactions in Malaysia.
  • Those who spend on retail purchases overseas.

Hong Leong Bank Essential Credit Card

The Hong Leong Bank Essential Credit Card lets you earn cashback when you spend on selected categories.

Key Benefits

  • Choose to pay the transferred balance without a fixed repayment period.
  • Get 0.6% cashback on transactions related to insurance.
  • Enjoy a cashback of 0.6% on other retail transactions for the first RM5,000. On subsequent spend, get 1% cashback.
Additional Points Description
How to Use it

The cashback can be used to pay the outstanding balance on the card.

Good about it
  • New cardholders can enjoy the balance transfer facility for 4.99% p.a.
  • Existing cardholders can enjoy the balance transfer facility for 4.99% p.a. during their birthday month.
  • Get unlimited cashback on insurance transactions.
  • The card offers a low cash advance fee of 2%.
  • The cash advance interest starts at 10.8% p.a.
Keep in Mind
  • You won’t earn any cashback for government-related transactions, JomPAY, cash advances, balance transfers, and finance charges.
  • A total retail spend of RM8,000 or a minimum of 12 retail transactions in the past year is required to waive off the annual fee.

Who should get it

  • Those who pay insurance premiums.
  • Those who make retail transactions frequently.
  • Those who utilise the cash advance feature often.

Maybank Visa Platinum Credit Card

This card offers you rewards when you carry out local and overseas retail transactions. You also get extra TreatsPoints during your birthday month.

Key Benefits

  • Earn 1 TreatsPoint for every RM1 spent locally.
  • Earn 2 TreatsPoints for every RM1 spent overseas.
  • You get a superior line of credit as per your requirements.
Additional Points Description
How to Use it
  • Use your card to carry out local and overseas retail transactions and earn TreatsPoints.
  • Redeem the TreatsPoints you have accumulated on a range of lifestyle items, gift vouchers, and with frequent flyer programmes of participating airlines.
Good about it

You get 2x TreatsPoints for all expenditures carried out during your birthday month.

Keep in Mind
  • Only individuals who earn RM60,000 and above can apply for this card.
  • You won't earn TreatsPoints for government-related payments,

Who should get it

Those who shop regularly.

UOB Visa Infinite Card

UOB Visa Infinite Card offers a range of privileges including rewards on retail transactions, airport lounge access, golf privileges, and special offers on dining, shopping, and travel.

Key Benefits

  • Earn 5x UNIRinggit for every RM1 spent on overseas retail transactions.
  • Use your UOB Visa Infinite Card at participating partner outlets and earn SMART$ Rebates automatically.
  • Get complimentary travel insurance coverage of up to RM500,000.
Additional Points Description
How to Use it
  • Use your card for overseas spends and earn UNIRinggit.
  • Redeem the UNIRinggit you earn on a range of lifestyle items, gift vouchers, and air miles. You can also use the UNIRinggit to offset your card’s annual fee.
  • Earn SMART$ Rebates when you shop at participating partner outlets.
  • Redeem the SMART$ Rebates at participating partner outlets the next time.
Good about it
  • Earn 3,000 Enrich Miles when you activate your card and spend RM3,000 within 2 months from the date your card was approved.
  • Get 4x complimentary access to Airport Lounges via Airport Companion by Dragon Pass.
  • Enjoy free green fees at participating golf clubs.
  • Enjoy exclusive discounts and offers on shopping, travel, and dining.
Keep in Mind
  • The minimum income requirement of this card is RM120,000 p.a.
  • UNIRinggit is valid for a period of three years until the next quarter.
  • SMART$ Rebates are valid for a period of 12 months.

Who should get it

  • Those who travel frequently.
  • Those who shop overseas.

AEON Big Visa Gold Card

AEON Big Visa Gold Card offers rewards as well as cashback for overseas transactions. Additionally, you also get airport lounge access, travel insurance, and many other perks.

Key Benefits

  • Earn 2 AEON BiG Member Points at any of the AEON BiG Stores.
  • Earn 4 AEON BiG Member Points on the 10th of every month at any of the AEON BiG Stores.
  • Earn 1 AEON BiG Member Point for every RM2 spent on local and overseas transactions.
  • Get 5% cashback at AEON BiG Stores when you use Visa payWave.
  • Get 5% cashback on the AEON BiG Thank you Member Day on the 28th of every month.
  • Get 5% cashback when for petrol transactions every Sunday.
  • Get 2% cashback for online and overseas transactions.
Additional Points Description
How to Use it
  • Carry out local and overseas retail transactions with your card and earn cashback.
  • Use your card for petrol purchases every Sunday.
  • Use your card for shopping online or overseas.
  • Shop at any AEON BiG Stores and earn AEON BiG Member Points.
  • Use your card for local and overseas transactions to earn AEON BiG Member Points
  • Convert your AEON BiG Member Points into cashback for purchases made at any of the AEON BiG Stores in Malaysia.
Good about it
  • Enjoy 3x Plaza Premium Lounge access at international airports in Malaysia.
  • Get exclusive dining, shopping, and hotel discounts at participating partners.
  • You get both rewards and cashback when you use the card.
  • Get travel insurance coverage of up to RM2 million.
Keep in Mind
  • The annual fee is waived for the first year. For subsequent years, you need to make a minimum of 12 transactions to get a fee waiver.

Who should get it

  • Those who shop at AEON BiG Stores.
  • Those who shop regularly.

BSN Platinum Mastercard

BSN Platinum Mastercard offers rewards for local and overseas transactions, travel insurance coverage, and exclusive discounts and offers on shopping and travel. What’s more, the finance charges of this card is as low as 11% p.a.

Key Benefits

  • Earn 2x Happy Points for all overseas purchases as well as for dining, golf, and travel from participating partners.
  • Earn 1x Happy Points for all local purchases.
  • Get travel insurance coverage up to RM1 million. The insurance also covers travel inconveniences, including luggage loss, luggage delays, flight delays, and missed flights.
  • Get finance charges as low as 11% with this card.
Additional Points Description
How to Use it
  • Use your BSN Platinum Mastercard for local and overseas transactions and at participating merchant outlets and earn Happy Points.
  • Redeem Enrich Miles with the accumulated Happy Points.
Good about it
  • Enjoy special discounts and privileges from participating hotels, restaurants, retailers, and other merchants.
  • The card is free for life, with no conditions attached.
  • Get a free BSN Zing PLUSMiles Card along with this card and use it to get toll rebates and discounts.
Keep in Mind
  • The minimum income requirement of this card is RM60,000 p.a.
  • The Happy Points you accumulate will expire after a period of three years.
  • The balance transfer plans are from 0% p.m. to 0.375% p.m. (per month and not per year).

Who should get it

  • Those who are looking for a card that comes with low finance charges.
  • Those who shop regularly.
  • Those who travel frequently.

How to Choose the Best Balance Transfer Card

The best balance transfer credit card can be chosen based on the interest/profit rate offered by the scheme. Check for the repayment tenure and the interest rate in the first place. It would be great if you can find a card that offers 0% interest rate.

Sometimes, the 0% interest rate would be applicable only for the first 6 months. If you opt for the scheme and if you do not completely repay the transferred balance, then the normal finance charges will be applicable to the remaining balance at the end of the tenure. So, it is ideal to try and find a card with the smallest interest rate possible and longest repayment tenure.

BBazaar's Best Balance Transfer Credit Cards of 2018

Use this guide to compare and choose the card that is best suited to you. Make sure you read all terms and conditions pertaining to the card before opting for one. Identify your preferred spending category and budget to pick a card that will meet your financial needs. This table below will explain the categories that each individual card is ideal for. Utilize this table when comparing cards to choose the best card for yourself.

Credit Card Minimum Transfer Amount
HSBC Visa Signature Credit Card

Amount: RM1,000

Interest Rate:From 0% to 6.99% p.a.

AmBank Visa Infinite Credit Card

Amount: RM4,000 for the 0% p.a. plan.

RM1,000 for the 4.88 p.a. plan.

Interest Rate: From 0% p.a. to 4.88% p.a.

Alliance Classic Card

Amount:

RM3,000 for the 0% p.a. plan.

RM1,000 for all other plans.

Interest Rate:From 0% p.a. to 7.99% p.a.

Hong Leong Essential Credit Card

Amount: RM1,000

Interest Rate:From 4.99% p.a. to 6.99% p.a.

Maybank Visa Platinum Credit Card

Amount:

RM2,000 for the 4.95% p.a. and the 4.50% p.a. plans.

RM1,000 for all other plans.

Interest Rate:From 0% p.a. to 9% p.a.

UOB Visa Infinite Card

Amount: RM1,000.

Interest Rate: From 3% p.a. to 6% p.a.

AEON Big Visa Gold Card

Amount: RM1,000.

Interest Rate:0% p.a.

BSN Platinum Mastercard

Amount:

RM500 for the 3 months plan

RM2,000 for the 36 months plan.

RM1,000 for all other plans.

Interest Rate:From 0% p.m. to 0.375% p.m.

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