Utility Credit Cards

    Utility Credit Cards Malaysia

    Utility credit cards are just regular credit cards that offer special benefits and rewards when you use the card to make payments towards your utility bills. Whether it is your electricity bills, telephone bills, mobile phone bills, insurance bills or any other kind of utility payments, using your credit card will deliver some truly exciting benefits in the form of cash back, rebates, discounts and reward points.

    Why Choose Utility Credit Cards

    Utility credit cards are among the best credit facilities you can find out there as they not only provide you with some much needed cash in times of emergencies, but can also be used to maximise savings. For instance, if you are in dire need of cash to purchase a few basic necessities or make payments towards any utility bill, a utility credit card makes for a fine solution as it provides you with instant funds to make the requisite payments and at the same time, also helps in maximising benefits as it offer cash back and discounts or reward points when you make the payments using your credit card.

    Individuals who wish to avail credit cards may ask themselves why they would want to go for a utility credit card when there are numerous other options in the market. One of the most common misconceptions about a utility credit card is that it only offers benefits when you make payments towards utility bills, which is completely wrong. Similar to other credit cards, utility credit cards also offer benefits and rewards when you swipe your card for any other purpose such as shopping, dining, entertainment, travel, etc. However, the offers you can grab on payments for other purposes will be dictated by the terms and conditions of that particular bank and card, so make sure you read through the offer document carefully before signing up for a utility credit card.

    Key Benefits and Features of Utility Credit Cards

    1. Cash back on making telephone bill payments

    2. Cash back on making utility bill payments

    3. Reward points for spending a particular minimum amount through the credit card

    4. Gift vouchers for spending a minimum amount of money on utility bill payments per month

    Eligibility to Apply for Utility Credit Cards

    To apply for a utility credit card, the following eligibility criteria must be met.

    The applicant must be of a minimum age specified by the bank (usually between 18 and 21 years of age)

    Must provide proof of income

    Must provide proof of identity

    Must provide proof of residence

    Must provide any other document required by the bank for verification of eligibility

    How to Apply for Utility Credit Cards

    Utility credit cards can be availed fairly easily provided the applicant gives the bank a proof of stable source of income and meet the other eligibility criteria established by the bank. To apply for a utility credit card, all you have to do is simply select the bank that best meets your requirements, visit its official website, redirect to the credit card section and choose the card you think will work best for you. You will have to fill up a form by entering a few personal and occupational details and submit it along with the requisite documents for verification of eligibility. The bank takes about 15-20 days to process your application and confirm whether or not you qualify for the facility, after which it will notify you of the same before disbursing your utility credit card.

    Frequently Asked Questions

    Do the utility credit card offer other benefits?

    Yes. Utility credit cards are not limited to providing benefits for payment for utility bills alone, but also for spends on other activities such as dining, travel and shopping. The exact details of the benefits offered will vary depending upon the purpose of expenditure, but most benefits include reward points, cash back and attractive discounts.

    What is the minimum age requirement for availing a utility credit card?

    Most banks require the applicant must be a minimum of 21 years of age, but some banks accept younger applicants too. Reading through the particular bank’s eligibility criteria will help you better understand the requirements.

    What documents are accepted as proof of identity?

    Applicants can submit their driving license, passport, election card, PAN card or any other document accepted by the bank as proof of identity.

    What documents does the bank accept as proof of income?

    Applicants must submit their salary slips along with a bank statement for the past three months as proof of income. Further verification checks may be conducted by the bank to confirm whether the furnished proofs suffice or if you must submit any other documents.

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