• Best No Annual Fee Credit Cards Malaysia

    Many people deny the idea of owning a credit card for the sole reason of annual fees. For all such people, here is a list of credit cards that has no annual fee structure and still offer many useful benefits. These benefits are not just limited to cashback, cash rebate or reward points; there is more to it.

    Here are the Best No Annual Fee Credit Cards in Malaysia 2018

    Updated on 10th April 2018

    Card Name
    Reward Program
    Balance Transfer Interest Rate (% p.a.)
    Interest Rate (% p.a.)
    Know More

    Get 1 PremierMiles on every RM3 spent locally or overseas

    5.32 to 5.81%

    15 to 18%

    Enjoy complimentary lounge access at airports across Malaysia and in Singapore Changi Airport

    4 to 10.99

    15 to 18%

    Save up to 50% when two of you dine at any of the SPG Hotels & Resorts in Malaysia

    0 to 0.75; 0% p.a. on 12 months’ tenure

    9 to 18%

    Convert your AmBonus Points into Air Miles to redeem free flight tickets at over 50 airlines.

    4.99 to 8.99%

    15 to 18%

    Get complimentary insurance coverage of up to RM100,000 for the first year

    2 to 4%

    15 to 18%

    PB Quantum Credit Card

    Enjoy cashback of 5% on online purchases and dining

    0 to 7%; 0% for transfer amount of RM2,000 and above for a 6 to month tenure

    15 to 18%

    Earn a cash rebate up to 5% at Tesco

    0% for 6 months’ tenure

    15 to 18%

    Get 10 Reward Points on every RM1 you spend on hotel accommodation and dining

    Upfront interest—3%; monthly interest—0% for 6-month tenure

    15 to 18%

    Citi PremierMiles American Express Card

    Ideal for:

    • Travel.
    • Dining.

    Additional Benefits:

    • Get free access to airport lounges in Malaysia such as Kuala Lumpur International Airport, Penang International Airport, etc.
    • Save 45% on dining at restaurants such as An Viet, Arthur’s Bar & Grill, Bentley’s Pub, etc.
    • Get a travel inconvenience cover, overseas personal accident cover, overseas medical expenses cover, etc. along with the card.
    • The PremierMiles can be redeemed with flight tickets at 90 airline partners such as Enrich, KrisFlyer, Asia Miles, etc.

    Keep in Mind:

    • Redeeming PremierMiles can only be carried out online.
    • Transactions such as cash advance are not eligible to acquire PremierMiles.

    RHB Visa Infinite Credit Card

    Ideal for:

    • Overseas spend.
    • Local purchases.
    • Travel.

    Additional Benefits:

    • Enjoy the privilege of complimentary green fees at select golf clubs across Malaysia such as at Pulai Springs Resort, Penang Golf Club, Palm Garden Golf Club, etc.
    • Earn 5 Reward Points on every ringgit spent on overseas transactions.
    • Get 1 Reward Point on every RM1 spent on purchases in Malaysia.
    • Redeem your Reward Points for air miles from about 40 airlines.
    • Get the travel insurance cover of up to RM2 million.

    Keep in Mind:

    • Reward Points are not offered on cash advance, late payment fees, interest, petrol purchase and charity.
    • Reward Points can be redeemed only if you are an existing principal card member.

    Maybank American Express Gold Credit Card

    Ideal for:

    • Entertainment.
    • Grocery shopping.
    • Dining.
    • Retail purchases.

    Additional Benefits:

    • Earn 5 Membership Rewards point each time you spend RM1 on:
      • Groceries.
      • Cathay Cineplexes.
      • Bookstores such as Kinokuniya, Times, MPH and Borders.
      • Payment of telco charges via Express Autopay for Maxis, Celcom, Digi and Telekom.
    • Earn 2 Membership Rewards points on every ringgit when you spend on other categories.
    • Earn 1 Membership Rewards point when you spend RM1 on educational institutions, insurance providers and utilities such as gas, petrol, electricity, water and sanitation.

    Keep in Mind:

    • Goods and services tax will be imposed on all fees and charges payable.
    • Membership Rewards points are not offered when you spend on government bodies.

    AmBank Visa Infinite

    Ideal for:

    • Travel.
    • Overseas spend.

    Additional Benefits:

    • Earn 5 AmBonus Points for every RM1 spent overseas.
    • Pay your bills with the AmBonus Points you have acquired thus far.
    • Get to enjoy unlimited airport lounge access across Malaysia.
    • Travel with peace of mind as the card offers travel insurance cover of up to RM2 million.
    • Save up to 50% when you dine at select Hilton Hotels in Malaysia.
    • Get a discount of 10% when you choose to stay at participating Hilton Hotels across Asia.
    • Enjoy the privilege of 24-hour concierge service to get any information regarding your travel, entertainment, medical assistance, etc.

    Keep in Mind:

    • Pay your bill with the accumulated AmBonus Points only when you purchase at ESH, Courts, Cosway, Sen Heng, SenQ and MYDIN.
    • Inform the bank before you make overseas transactions with your card.
    • Minimum annual income required is RM120,000.

    OCBC Great Eastern Platinum MasterCard

    Ideal for:

    • Insurance.
    • Utility bills.
    • Retail transactions.

    Additional Benefits:

    • Stay protected with the complimentary insurance cover on death or total permanent disability.
    • Get 12-month auto-instalment payment plan at 0% interest.
    • Get concierge services round-the-clock.
    • Set standing instructions on utility bill payments.
    • Pay the outstanding balance without any interest charges during the grace period.

    Keep in Mind:

    • The insurance cover will be renewed for free if you spend RM10,000 or more on retail transactions during the first year.

    PB Quantum MasterCard Credit Card

    Ideal for:

    • Retail purchases.
    • Online purchases.
    • Dining.
    • Entertainment.

    Additional Benefits:

    • Get 1 VIP Point on every ringgit spent on other retail transactions in Malaysia.
    • Accumulate 2 VIP Points when you spend RM1 overseas.

    Keep in Mind:

    • The cashback on online and dining transactions are capped at RM30 per month.
    • The accumulated VIP Points must be utilised within 3 years.

    CIMB Tesco Platinum Credit Card

    Ideal for:

    • Retail purchases.

    Additional Benefits:

    • Earn 1 Extra Tesco Clubcard Point when you spend RM2 at Tesco store.
    • Earn 1 Extra Tesco Clubcard Point when you spend RM4 on other retail transactions.
    • Get a Tesco Clubcard at no additional cost.
    • Receive a cash rebate of 5% on Tesco spend if the purchase amount in the billing cycle is RM3,000 or more.

    Keep in Mind:

    • If the bill amount is less than RM3,000, then you earn a cash rebate of 2%.
    • Petrol transactions are not applicable to acquire Tesco Clubcard Points.
    • The cash rebate is capped at RM50 per monthly statement per card.
    • Existing Tesco Clubcard members are not eligible to get a new Tesco Clubcard at no extra cost.

    HSBC Premier World MasterCard

    Ideal for:

    • Dining.
    • Shopping.
    • Travel.

    Additional Benefits:

    • Get 8 Reward Points on every ringgit you spend at Mid Valley Megamall and The Gardens Mall.
    • Every RM1 spent on flight ticket, accommodation/dining at local hotels or at select malls in Malaysia such as Low Yat Plaza, Sunway Pyramid, The Curve, etc. will fetch you 5 Reward Points.
    • Spend RM1 on any other categories to earn 1 Reward Points.
    • Enjoy complimentary access to Plaza Premium Lounge at:
      • Kuala Lumpur International Airport.
      • Singapore Changi Airport.
      • Hong Kong International Airport.
    • Get the privilege of complimentary Wi-Fi across the world.
    • Travel comfortably with complimentary Uber ride worth RM80.

    Keep in Mind:

    • The maximum Reward Points you can earn on travel, hotel and the select shopping malls in a month is 9,000.
    • Complimentary Uber ride is offered with a minimum spend of RM2,500 on flight tickets.

    Make the Most Out of Your No Annual Fee Credit Cards

    These cards allow you to save a reasonable amount of money every year. Despite the annual fee being waived, these cards do no compromise on the benefits they offer. They offer cashback, cash rebate, reward points, complimentary access and many more privileges.

    For example, if you use your card for multiple categories, then the Maybank American Express Gold Credit Card is ideal. It offers you 5 reward points for grocery, cinema, bookstore and telecom transactions. It also offers 2 reward points for other retail transactions and 1 reward point for any education, insurance, fuel and utility transaction.

    Bankbazaar selects the best cards without annual fees based on reward points, discounts, cash rebates, cashback and travel benefits.

    Pay attention to other criteria such as monthly income requirement, global acceptance, finance charges, credit limit and your purpose to apply for a card. If you are interested in other categories, then check best balance transfer credit cards or best petrol credit cards

    Know more about no Annual fee Credit Cards

    1. What is an Annual Fee?

    An annual fee is a charge you must pay to the bank simply for owning their credit card. No matter if you use the card on a regular basis or not, you are required to pay the designated annual fee at the end of a year of usage.

    2. Annual Fees for Primary and Supplementary Cards

    Each credit card has its own principle regarding annual fees. When it comes to principal and supplementary credit cards, one of the following may happen:

    • Both primary and supplementary card has no annual fee.
    • Both primary and supplementary card charge annual fees; the fee charged on the supplementary card is lesser than the primary card.
    • The primary card has a specific annual fee while the respective supplementary card will not be charged an annual fee.

    3. How Much Do You Save With a No Annual Fee Card?

    Generally, annual fees of a card may start at as low as RM30. Consider the case of AEON BiG Visa Classic Card. The annual fee for the card is RM30. This might not seem like a really big deal. However, there are certain cards that have a much higher fee amount as in the case of Citi Prestige MasterCard World Elite. This card charges an annual fee of RM1,000 per year. Therefore, with a no annual fee card, you could save up to RM1,000 a year.

    4. Can the Annual Fee Be Waived?

    A few cards provide you the privilege of annual fee waiver when you meet certain criteria specified by the bank. The criteria can either be spending a set amount during the year, a minimum number of swipes per month or per year, etc. For example, consider AEON BiG Visa Classic Card that has an annual fee of RM30. AEON Credit specifies that the annual fee will be waived with a minimum of 12 transactions in a year.

    In another case, there are cards that have no annual fees for the first year of usage. In the subsequent years, you have to pay an annual fee. Again, this can be waived off based on the transaction patterns.

    5. When Are Cards With Annual Fees Worth It?

    A credit card is worth paying annual fees only when the benefits offered match-up to the fee charges. When it comes to a rewards card, check if you can get a reasonable number of reward points on sign-up. Also, check the conversion rate of ringgits to reward points. If these reward points can be used to pay your bills or to redeem something useful from the rewards catalogue then you can consider paying a reasonable annual fee.

    If you are a frequent traveller, check if the card offers you air miles or allows you to convert any reward points you earn on the card into air miles. You can enjoy free flight tickets by accumulating the required reward points. The miles and subsequent travel perks earned should be able to make up for the annual fee of the card.

    On the other hand, if the cashback you can earn on your grocery purchase, petrol or utility bills on a regular basis saves much more than the amount spent on the annual fee of the card, then paying the annual fee is definitely worth it.

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