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  • Best Credit Card for Low Income

    Credit Cards for Low Income Earners

    If your income is not high enough to fetch you a top-class credit card, you don’t have to worry. You still can get a good credit card that is designed for people with low income.

    Generally, an annual income of RM24,000 is considered to be lowest income that can qualify you for a credit card.

    Here is a compilation of various credit cards from different banks in Malaysia that consider low-income earners.

    Here are the Best Credit Cards for Low Income Earners in Malaysia 2018

    Updated on 13th November 2018

    Card Name
    Minimum Income Criteria
    Financial Charges
    Annual Fee
    Know More

    RM24,000.

    (Minimum Income Criteria)

    15% p.a. to 18% p.a

    (Financial Charges)

    Principal Card: RM250. Waived for the first year.

    Supplementary Card: Waived.

    (Annual Fee)

    RM24,000 p.a.

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Financial Charges)

    Principal Card: RM90.

    Supplementary Card: RM60.

    1st year waived if you swipe the card 3 times within 60 days of card approval.

    (Annual Fee)

    RM24,000 p.a.

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Financial Charges)

    Principal Card: RM70. Supplementary Card: Waived.

    (Annual Fee)

    RM24,000 p.a.

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Minimum Income Criteria)

    Principal Card: Waived.

    Supplementary Card: Waived.

    (Annual Fee)

    RM24,000 p.a.

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Financial Charges)

    Principal card: Waived for life

    Supplementary card: Waived for life for the first 3 cards.

    (Annual Fee)

    RM24,000

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Financial Charges)

    Waived for both principal and supplementary cards

    (Annual Fee)

    RM30,000 p.a

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Financial Charges)

    Waived for both principal and supplementary cards

    (Annual Fee)

    RM24,000.

    (Minimum Income Criteria)

    15% p.a. to 18% p.a.

    (Financial Charges)

    Waived for both principal and supplementary cards

    (Annual Fee)

    *Effective 1 September 2018, Sales and Services Tax (SST) of RM25 will be imposed upon card renewal and new card sign up.

    Standard Chartered JustOne Platinum Mastercard

    Standard Chartered JustOne Platinum Mastercard offers high cashback rates of up to 15% on selected spend categories. The cashback percentage depends on the total monthly spend you have made using the card.

    Key Benefits

    • Earn cashback of up to 15% on auto-bill payment, online purchases, and petrol categories.
    • Get 0.2% cashback when you spend on other categories.
    Additional Points Description
    How to Use It
    • Pay with the JustOne Platinum Mastercard for all your purchases and utility bills.
    • Collect cashback based on the amount you have spent with the card.
    Good about It
    • The annual fee will be waived when you spend a minimum of RM20,000 with the card.
    • Enjoy exclusive privileges and offers at the participating merchant outlets.
    Keep in Mind
    • The cashback is capped at RM12 when the total spend per month is within RM1,499.99.
    • The maximum cashback you can earn with a monthly spend between RM1,500 and RM2,499.99 is RM28.
    • The cashback you can earn with a monthly spend of RM2,500 and above is capped at RM85.

    Who Should Get It

    • Those who have a low income.
    • Those who spend on auto-bill payments, petrol, online purchases, and other retail transactions.

    Citi Clear Card

    Enjoy up to 3x Citi Reward points on retail transactions when you spend with the Citi Clear Card. You can get access to a wide range of privileges and treats with this card.

    Key Benefits

    • Earn 3x Citi Reward points on your purchases at Borders, Sakae Sushi, GAP, Topman, G2000, Topshop, La Senza, Vincci, and Zouk Club KL.
    • Receive 1x Citi Reward point every time you spend RM1 on other transactions.
    • Purchase a movie ticket on the GSC website or mobile app on a Friday to get one complimentary ticket.
    • Buy yourself a drink at The Coffee Bean & Tea Leaf and get another free drink.
    Additional Points Description
    How to Use It
    • Use the Citi Clear Card for all your transactions at retail and other stores.
    • Swipe this card for up to 50% discounts on dining, shopping, and travel.
    Good about It
    • Priority access to various rewards and discounts at outlets across Malaysia.
    • Evergreen Citi Reward points that never expire.
    • Card accepted in over 120 countries and over 30 million stores worldwide.
    • Zero liability when you report a lost card.
    • Citi Reward points for purchases at participating merchant outlets.
    Keep in Mind
    • Annual fees waived for the first year if you swipe your card 3 times within 60 days of issuance.
    • Complimentary drink at The Coffee Bean & Tea Leaf must be equal or lower value of the drink you have purchased.
    • Complimentary GSC tickets only available when purchased on the GSC website or mobile app.

    Who Should Get It

    • Those who spend frequently at retail stores.

    RHB Smart Value Card

    The card helps to increase your savings every month without compromising on your purchases. You earn cashback for spending in selected categories as well as for all other retail purchases. You also get travel insurance coverage when you charge the full airfare with your card.

    Key Benefits

    • Get up to 5% cashback for petrol purchases, grocery purchases, online transactions, utility bill payments, and all other retail transactions.
    • Pay instantly by waving your card at any contactless-enabled terminals.
    • Get travel insurance coverage of up to RM100,000 for you and your family. The insurance also covers baggage loss, flight delays, and all other travel inconveniences.
    Additional Points Description
    How to Use It
    • Use your card for retail purchases and earn cashback.
      • Spend RM2,501 and above on each selected category (petrol, grocery, online purchases, and utility bill payment) to get 5% cashback.
      • Spend from RM1,501 to RM2,500 on each selected category to get 2% cashback.
      • Spend from RM500 to RM1,500 on each selected category to get 1% cashback.
      • Spend more than RM500 and earn 0.2% cashback on all other retail spends.
    Good about It
    • The card comes with a minimum credit limit of RM4,000. You can increase it till RM300,000.
    • There is no capping for all other retail spends apart from the selected categories.
    Keep in Mind
    • The cashback earned for petrol, grocery, online, and utility bill payments come with a maximum cap of RM10 each.
    • You won't earn any cashback for government-related payments and overseas petrol purchases.

    Who Should Get It

    • Those who earn a minimum of RM24,000 per year.
    • Those who like to save more on their purchases.

    PB-AIA Visa Gold Credit Card

    If you pay your AIA Insurance premium every month, you can opt for the PB-AIA Visa Gold Credit Card to get cashback. You also get cashback when you carry out retail transactions.

    Key Benefits

    • Get 2% cash rebate when you make AIA Insurance premium payment using your PB-AIA Visa Gold Credit Card.
    • Get 0.1% cashback in the form of Cash MegaBonus when you carry out local and overseas retail transactions.
    • When you have this card you can easily open a current account at any Public Bank branches without an introducer.
    Additional Points Description
    How to Use It
    • Use your card to make AIA Insurance Premium payments and get cashback.
    • Spend locally or overseas using your card and earn cash rebates.
    Good about It
    • This card is free for life for both the principal and supplementary cardholders, without any conditions attached.
    • The cashback for local and overseas retail transactions does not come with a capping.
    Keep in Mind
    • The cash rebate you earn when you make AIA Insurance Premium payments is capped at RM350 per year.
    • The Cash MegaBonus does not apply for petrol purchases, AIA Insurance payments, charity payments, bank’s fees and charges, and government-related payments.
    • You earn the 2% cash rebate for AIA Insurance Premium payments only when you make the payment at any of the Public Bank at AIA branches and auto-debt. If you pay via e-commerce or internet, you don’t get any cashback.

    Who Should Get It

    • Those who have any of the AIA Insurance policies.
    • Those who earn a low income.

    AmBank Gold Credit Card

    Enjoy rewards whenever you shop with the AmBank Gold Credit Card. You can use the AmBonus Points to make direct payments at participating outlets in Malaysia.

    Key Benefits

    • Get 1 AmBonus Point for every RM1 spent.
    • Get protection for you and your family with travel  insurance coverage of up to RM500,000 when you book flight tickets with the card.
    Additional Points Description
    How to Use It
    • Pay for all your expenses with the card and earn AmBonus Points.
    • Redeem the Rewards Points for items and vouchers from the bank catalogue.
    • Use the reward points for transactions at participating outlets.
    Good about It
    • Redeem your reward points at all participating outlets with the AmBonus On-the-Spot Redemption programme.
    • Pay in instalments with no interest for your expenses with the Easy Payment Plan for up to 24 months.
    • Set standing instructions and pay your bills on time with the AmBillPay service.
    Keep in Mind
    • Annual fees of RM188 will be charged from the fourth supplementary card onwards.
    • AutoBillPay service is available for Tenaga Nasional Berhad, Astro, Zurich Insurance, Allianz Insurance, and MCIS Insurance.

    Who Should Get It

    • If you are looking for a card with good rewards on all transactions.
    • If you are a frequent traveller.

    CIMB Platinum Credit Card

    Every transaction you make with the CIMB Platinum Credit Card earns you reward points. You can also travel peacefully with the travel insurance offered.

    Key Benefits

    • Get 1 Bonus Point for every RM1 spent on transactions.
    • Enjoy convenient instalments of up to 36 months at no interest with the CIMB 0% Easy Pay programme.
    Additional Points Description
    How to Use It
    • Use your card for making transactions at various merchant and retail outlets.
    • Earn Bonus Points on your spends.
    • Use the reward points to redeem items and vouchers from the bank catalogue.
    Good about It
    • Use reward points to make payments at participating retailers through the Pay with Points programme.
    • Travel without worry with insurance coverage of up to RM1 million when you buy flight tickets with the card.
    • Get access to a host of offers and privileges under the CIMB Credit Card Privileges programme.
    Keep in Mind
    • You need to pay RM10 for replacing the card.
    • In case of late payments, you will be charged 1% of the total outstanding amount as late fees.

    Who Should Get It

    • If you are looking for a card with an easy instalment plan.
    • If you are looking for rewards on a variety of transactions.

    Maybank 2 Gold Cards

    Enjoy benefits of two cards when you sign up for Maybank 2 Gold Cards. You also get TreatsPoints and cashback on various transactions.

    Key Benefits

    • Get 5x TreatsPoints on transactions made with the Maybank 2 American Express card.
    • Enjoy 5% weekend cashback on transactions with the Maybank 2 American Express Card.
    Additional Points Description
    How to Use It
    • Use the cards for different retail and other transactions.
    • Get reward points on the payments.
    • Redeem the reward points for items and vouchers from the bank catalogue.
    Good about It
    • Earn 1x TreatsPoints on spends with Maybank 2 Mastercard/Visa Card.
    • Get 50% discount for two diners at SPG Hotels and Resorts in Malaysia.
    Keep in Mind
    • There is cap of RM50 per customer per month on the weekend cashback offer.
    • There are no TreatsPoints on transactions with government bodies, JomPAY bills, and FPX payments.
    • You can earn 1x TreatsPoints for transactions at educational institutions, insurance payments, utility payments, and 0% EzyPay.

    Who Should Get It

    • If you are looking for a card with good rewards on utility payments.
    • If you shop frequently on weekends.

    Citi Simplicity+ Card

    The Citi Simplicity+ Card offers returns on investment when you make timely payments. You also won’t have to worry about over limit or late payment fees.

    Key Benefits

    • Enjoy 10% interest returns on your expenses and cash advances when you pay the minimum monthly amount on time.
    • No late payment charges on delay of payments.
    Additional Points Description
    How to Use It
    • There are no additional charges to be paid if you exceed the limit of the card.
    • Get access to Citi World Privileges programme and enjoy offers and benefits for various merchants across Malaysia and abroad.
    Good about It
    • You can pay for your mobile and internet bills through the Citi website.
    • You can activate Citi Alerts for your transactions.
    Keep in Mind
    • You will not get the 10% interest returns on expenses if your payment is late.
    • An interest of 18% p.a. daily interest will be charged on the cash advance on this card.

    Who Should Get it

    • If you are looking to make savings on all credit card transactions.
    • If you are regular on your payments.

    How to Choose the Best Card for a Low Income Earner

    Apply for a credit card only if you qualify with respect to all the eligibility requirements. Also, try to choose a card that has no or minimum annual fee. Many cards in the market today come with a waiver on the annual fee.

    Some cards may have waived the annual fee only for the first year. If you want to choose such a card, do consider the annual fee for the second year onwards. It would be better to prefer a card with low finance charges if you think you can’t make complete payments every month. Compare all the cards and choose the one that suits your lifestyle.

    Review

    Among the cards listed above, the AmBank Gold Credit Card gives points on all transactions. You also get travel insurance coverage of up to RM500,000 when you book flight tickets with the card. The

    Illustration

    Expense Category Amount Spent Reward Points Given Reward Points Earned
    Retail expenses RM2,000 1 AmBonus Point 2000

    Let’s assume you use your BSN Visa Classic Credit Card to carry out local and overseas retail transactions worth RM2,000. Since you get 1x Happy Point for local purchases and 2X Happy Points for overseas purchases, you earn 3,000 Happy Points. Keep accumulating your Happy Points and redeem them on a range of lifestyle products, gift vouchers, and air miles. For those living in Peninsular and East Malaysia, the items you have redeemed will be delivered to you for free. You can take a look at the catalogue available on the bank's official website to see the range of exquisite items available.

    Please note Happy Points are valid for a period of three years. Make sure you use your Happy Points within three years so that they are not forfeited.

    You can choose the card which is best suited for you online at comparison websites. Go through all related documents carefully before you sign up for the card.

    BBazaar's Best Credit Cards for Low-Income Earners 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.

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