CIMB Islamic MasterCard Gold Card
This Islamic credit card from CIMB works on the principle of Ujrah and earns reward points on every expense charged.
CIMB Islamic Gold Card Benefits
The CIMB Islamic MasterCard Gold Is an Islamic concept credit card that is suitable for everyday use. It earns reward points on every expense charged to the card. Be it local or retail, the card earns 1 reward point for every RM 1 spent on retail expenses. These reward points can be redeemed for the latest electronic gadgets and appliances or can be used to avail government tax redemptions and is packed with value added features of balance transfer plans and easy payment plans.
CIMB Islamic Gold Card Features
The features of the CIMB Islamic MasterCard Gold are as follows
- The interest rate charged on this card is 15% p.a.
- The card has a 20 day interest free period
- The card has an Easy payment that converts large retail purchases into smaller affordable instalments with available tenures of 12, 24 and 36 months.
- The card has a Balance transfer plan with available tenures of 6 months and 12 months
- This primary card has an annual fee of RM 148.40 and supplementary cards have an annual fees of RM 74.20
- The minimum monthly payment to be made is 5% of the outstanding amount.
- The card has a cash withdrawal fee of the higher of RM 53 or 5.3% of the cash withdrawn. Cash withdrawal limit for daily basis is RM 5000. Withdrawals attract an interest rate of 18% p.a.
- Cardholders can avail cash advances on their available credit limit
- Late payment penalty is 1% of the outstanding amount
CIMB Islamic Gold Card Requirements or Eligibility
The eligibility criteria to apply for the CIMB Islamic MasterCard Gold are as follows
- The minimum age of primary cardholder is 21 years of age
- The minimum age of supplementary cardholder is 18 years of age
- The minimum annual income required to apply for this card is RM 24,000
- Only Malaysians who are either salaried or self-employed can apply for this card
Other Credit Cards Offered CIMB Islamic
The other credit cards offered by CIMB Islamic are
- CIMB Islamic Petronas MasterCard
- CIMB Islamic UKM MasterCard
CIMB Islamic Gold Card Balance Transfer
The CIMB Islamic MasterCard Gold offers a balance transfer plan with a minimum amount set at RM 1000. The plan offers 2 tenures of 6 months and 12 months with an interest rate of 5.99% p.a. and 7.99% p.a. respectively. These balance transfer plans allow cardholders to consolidate outstanding credit card dues
CIMB Islamic Gold Card Protection
The card offers cardholders complimentary Takaful travel accident insurance with a cover of up to RM 500,000 when airfare is purchased solely using the card.
CIMB Islamic Gold Card Review
The card being an Islamic card does not charge an APR but a yearly facilities charge or YFC of RM 7200. This YFC may be on the higher side but cardholders need not pay the charge upfront. Any outstanding credit card dues have a PFC or payable facilities charged levied to it which should not exceed the YFC. If however the cardholder repays the outstanding dues in full, the PFC will not be levied and the YFC will be waived in full.