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Credit Cards for Employees in Malaysia

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Credit cards since the idea was implemented has been an integral part of an individual’s personal finance portfolio. Credit cards help us afford us a lot of convenience and for a lot of people, a sense of security. This is realised in particular by banks who try and make it easier for individuals to apply. Banks and financial institutions have made it very convenient to apply for credit cards for employees in Malaysia, with a few documentations required as well as fair eligibility criteria.

Credit Cards for Employees in Malaysia

How to Apply For Credit Cards for Salaried individuals in Malaysia

Despite many banks in Malaysia claiming on their website that the application process can be done online some of the processes of the application does require applicants to either mail in the application form and documentations or physically present them in themselves at a specific branches. Here are the most popular online processes of application encountered in Malaysia:

  • Downloadable PDF form:
  • Several banks provide the provision to download PDF form which needs to be filled in. Individuals first need to print out the application form and mail or personally deliver it along with relevant documentation to your nearest branch.

  • Partial online application:
  • This process generally requires the applicant to fill up a simple online contact form. This follows by a bank representative calling up the applicant within 24 hours. Hard copies of the required documentation are asked although soft copies or scanned files of the documentation are sometimes preferred.

  • Full online application–
  • This is a paperless form of online application procedure requiring the customer have a scanner or fax machine. The bank the request the applicant to fill in an application form online and submit it on the website itself. Soft copies of documentation are often attached during the online submission process while some banks require the documentation through email or fax.

    Some of these banks that even offer incentives for submitting the documentation within 24 hours but it is generally good to be quick so that the application process is completely faster. In case an individual does not have a fax machine or scanner, they might need to go to the branch anyway, to submit their documents.

Documentations Required for Credit Cards for Employees in Malaysia

The following are documents banks commonly ask for in a credit card application for salaried individuals. The number of documents required are generally based on the bank and the type of credit card the applicant opts for.

  • NRIC: This is one of the most important piece of documentation that any bank would require from the credit card applicant. Scanned/photocopy copies of the front side and back of this identity card is required. Incase the individual is a non-resident the passport.
  • Salary slip: This is a proof to the bank that the applicant has a stable income and so they can determine the amount of credit that the individual can afford. Based on the type of credit card the applicant is opting for he or she may need to provide up to 6 months of salary slips. Also, a confirmation letter from the applicant's employer might be sufficient or even be required as an extra document.
  • Bank Statements: These are asked by banks for salaried applicants in Malaysia, usually to check where his or her salary gets credited each month hence making it essential to send the statement of the relevant bank account.

What Happens After Application?

It generally takes a few days for the credit card to be processed and approved for use. Ideally the applicant should wait patiently from 5 workings days up to a maximum of 14 working days after which they should contact the bank. Often the delay might be caused by missing details on the application form or even insufficient supporting documents. So, the applicant has to stay alert. Just incase the application is unsuccessful other banks may offer generous sign-up offers. However, make sure that you do not try too much as it affect your credit score, which in turn will make it impossible to score a new credit card after a while.

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