Mach credit cards are offered by Hong Leong. In a bid to appeal to the generation Y customers, Hong Leong Bank introduced the sub-brand called Mach to offer modern lifestyle banking products. Mach offers a range of products that include credit products such as personal loans and mortgages and also fixed deposits and savings accounts. Among their credit products, the Mach credit cards are a popular choice due to the many benefits they provide, such as cashback on specific spend categories and the ability to customise the card as required.
Mach credit cards are designed to cater to generation Y and as such have a range of appealing benefits. The Mach Visa Credit Card can be customised as per the cardholder’s need and comes in 4 variants. These include packages such as the social package which offers entertainment benefits, trendsetter package which offers shopping and travel privileges, savvy package which offers health and lifestyle benefits, and the final package caters to other expenses such as departmental store expenses or online expenses. The Mach Signature Credit Card is an exclusive card offering exciting travel related perks such as the chance to earn miles and complimentary insurance.
The following are the various features and benefits of Mach credit cards:
The following are the various types of credit cards offered by Mach:
If interested applicants wish to get a Mach Credit Card, they must meet the following eligibility requirements:
The minimum annual requirement will be as follows:
Cardholders are required to submit the following documents when submitting the duly filled application form:
Cardholders can enjoy periodic deals and discounts on their Mach credit cards. These promotional offers include discounts at select merchant outlets. The offers are subject to certain terms and conditions which vary based on the offer and can have varying periods of validity.
The balance transfer plans on the Mach credit cards allow cardholders to transfer outstanding credit card dues accrued on other bank credit cards onto their Mach credit card and pay it off at lower rates of interest. The lowered rate of interest makes for easier repayments and also saves the cardholder money, which otherwise would have been spent on servicing the prevailing rates of interest.
The following are the fees and charges applicable to the credit cards:
|Annual fees – Principal cards||
Mach Credit Card – RM169.60
Mach Signature Credit Card – Waived
|Annual fees – Supplementary cards||
Mach Credit Card – RM84.80
Mach Signature Credit Card – Waived for first three cards, RM300 for subsequent cards
|Finance charge on retail transactions||
15% p.a. for Tier 1 cardholders
17% p.a. for Tier 2 cardholders
18% p.a. for Tier 3 cardholders
|Finance charge on cash advance||18% p.a.|
|Cash advance fee||5% of the amount withdrawn or RM20, whichever is higher|
|Late payment charge||1% of the outstanding amount subject to a minimum fee of RM10 and a maximum fee of RM100|
|Minimum monthly repayment||RM50 or 5% of the outstanding balance, whichever of the two is higher|
|Interest-free period||20 days|
|Add-on category fee||RM5.30 (Applicable for Mach Credit Card only)|
|Sales draft retrieval fee||RM21.20 per copy|
|Card replacement fee||RM50 for every replacement|
|Conversion for overseas transaction||Overseas transactions carried out in any other currency is converted into Malaysian Ringgit using exchange rate determined by Visa/MasterCard International. The transaction has a markup of 1% of the converted amount imposed on it by the bank.|
Applicants can apply for a Mach Credit Card through the following ways:
The customer hot line number for Mach are as follows:
Q. How are interest rates offered to cardholders based on payment record?
A. Cardholders who make prompt minimum monthly payments on or before due date for 12 consecutive months in a 12-month period are Tier 1 cardholders and are charged an interest rate of 15% p.a. Tier 2 cardholders are those who make minimum monthly payments on or before due date for 10 consecutive months in a 12-month period are charged an interest rate of 17% p.a. and cardholders who do not belong to either of the above 2 categories are Tier 3 cardholders who are charged the highest interest rate of 18% p.a.
Q. Is there any early repayment fee on the balance transfer plan?
A. Yes. Cardholders will be charged a fee for early repayment of the balance transfer amount before the plan attains maturity. The fee charged is RM70.
Q. Is there any early repayment fee on the Cash-On-Call plan?
A. The cardholder will be charged an early repayment fee of RM25 on full settlement of cash-on-call amount before the instalment plan ends.
Q. How does one report a lost or stolen credit card?
A. Cardholders must call on the 603 7627 8899 at the earliest to report the loss or theft of the card.
Q. How can one apply for the balance transfer or cash-on-call plan?
A. Cardholders can apply for the plan by calling 603 7627 8899 and request for the application. Cardholders can also check on the status of their application by calling the same number.