Lifestyle credit cards are designed to target and improve an individual’s various lifestyle expenditures and reward such expenses through cashback, reward points, select discounts and more. These cards are packed with value added features and give you access to a host of events and establishments such as privileged and exclusive access to international movie screenings, premier lounges, nightlife, golf clubs, concierge services, etc.
Compare Lifestyle Credit Cards In Malaysia
|Card Name||Benefits||Annual Fee||Interest Rates|
|GSC-Hong Leong Gold Visa||Exclusive movie and dining privileges with up to 10% off on movie tickets||Waived||15 - 18% p.a|
|Hong Leong Mach Visa Card||Get 2% cash rebate on nightlife category at selected Cafes and Pubs||Waived on 12 swipes in a year||15 - 18% p.a|
|CIMB Visa Signature||Access to CIMB Card Privileges that gives cardholders discounts at a range of leading restaurants and cafes||Waived||15 - 18% p.a|
|Citi Clear Visa||50% discount on dining, shopping, and travel expenses at select establishments||RM95.40||15 - 18% p.a|
|Maybank FC Barcelona Visa Signature||Enjoy 10% discount on FCB official online||Waived||15 - 18% p.a|
Features And Benefits Of Choosing Lifestyle Credit Cards
- Get access to select nightclubs along with discounts at a range of select pubs and cafes.
- Get privileged access to airport lounges.
- Get an opportunity to attend International movie screenings.
- Get to enjoy discounts and waivers on golfing green fees at select golf clubs around the globe.
- Enjoy personalised assistance for your travel with Concierge Service.
- Enjoy fast-track immigration at numerous international airports with select cards such as the Maybank FC Barcelone Visa Signature Card.
- Get preferential foreign currency exchange rates.
- Get reward points for your spend on other categories such as groceries, petrol and more.
- Enjoy complimentary travel insurance when airfare is solely purchased using the card.
- Reward points earned on select cards have a lifetime validity.
- Get value added features such as a balance transfer facility which allows you to transfer outstanding dues accrued on other bank credit cards onto your lifestyle credit card and pay it off at a lower rate of interest.
- Get an instalment payment plan with which you can convert large retail purchases at select merchant outlets into smaller, more affordable monthly instalments of varying tenures.
How Do Lifestyle Credit Cards Work?
The way a lifestyle card works is just like any other credit cards. What makes this card stand apart is the lifestyle rewards and offers that come with it. From year-round shopping deals to limited-time fitness club promotions, these credit cards offer something for every kind of lifestyle.
With a lifestyle card in your wallet, you’ll be entitled to enjoy plenty of personalised deals and attractive discounts across a wide variety of lifestyle categories, including dining, beauty, wellness, health, travel, and fashion clothing.
How Do You Choose The Best Lifestyle Credit Card?
Once you’re aware of how a lifestyle credit card works, choosing the best one should be quite simple. Remember that the ideal lifestyle card is a reflection of your personality. So, whether you love going to a mall or the local movie hall, choose a lifestyle card that lets you enjoy the best of your world and rewards you for all your spends.
In addition, keep in mind to check the annual fees, interest rates, and all other associated fees and charges before deciding a lifestyle card that’s good for you.
To apply for most lifestyle credit cards in Malaysia, you need to be a minimum of 21 years of age and have a stable source of income. You should also be able to satisfy a minimum monthly/annual income criteria that can vary according to the card issuing bank, the type of lifestyle card, and its features as well as benefits.
How Do You Apply For A Lifestyle Credit Card?
To begin with, you could visit the bank’s nearest branch to initiate your credit card application. You could also call the bank’s customer service department for assistance with applying for a lifestyle credit card. Alternatively, you could just visit the bank’s website and fill out the online credit card application form.
Q. What is the interest-free period?
A. A period of 20 days from the date of purchase is called interest-free period where you can repay the bill amount; interest is not charged during this period.
Q. Can I use a lifestyle credit card to purchase a music concert ticket? Does it offer any benefits?
A. Yes. You can use a lifestyle credit card to purchase tickets for music concerts. Some banks offer cashback or cash rebate when you spend for such concerts. For example, Hong Leong Mach Visa Card provides 3% cash rebate when you purchase concert tickets at AirAsia RedTix, TicketCharge, TicketPro or any Rock Corner outlets.
Q. Is it possible to get a Shariah-compliant lifestyle credit card?
A. You can apply for a lifestyle card that’s Shariah-compliant through an Islamic financial institution. However, these cards only allow halal transactions. So, you won’t be able to use the card for any non-halal transactions such as alcohol spends.
Q. Are Islamic credit cards limited to people of Muslim faith alone?
A. No. Any one can apply for an Islamic credit card as long as they wish to stay Shariah-compliant in terms of their transactions.
Q. Can I get a supplementary card with the lifestyle card?
A. Yes. You can get a supplementary card with the lifestyle card, if you wish to.
Q. Can I take a cash advance using a lifestyle credit card?
A. Yes. You can take a cash advance with a lifestyle credit card. Cash advances made do carry a higher rate of interest and also charge a withdrawal fee.