Grab a credit card that gives you better rewards & more!
  • Credit Card BYTES FROM OUR KITCHEN

    No Annual Fee Credit Cards

    BBazaar Exclusive Deals for Credit Card

    Gift Card Worth RM200 from either Ikea or Lazada

    *Click Here to Check Terms & Condition

    Ikea voucher worth RM500

    **Click Here to Check Terms & Condition

    Annual fees can be a deciding factor for many when applying for a credit card. The cost of owning a card do matter to some customers. Other than the annual fees waived for life, these cards offer a host of benefits, including cashback and reward points, to name a few. Many Malaysian banks offer credit cards with no annual fees. Read on to know more about the features and benefits of no annual fee credit cards.

    Compare Credit Cards With No Annual Fee

     

    Card Name
    Benefits
    Interest Rate
    Annual Fee
    Know More

    Up to 5x Reward Points on dining, overseas purchases, and transactions made at departmental store

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    Up to 2x Happy Points on retail spends

    (Benefits)

    13.5% p.a. to 17.5% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    Unlimited Cash MegaBonus of 0.3% on local and overseas transactions

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    Up to 5% cash rebate on a variety of transactions

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    5% cashback on weekend purchases

    5x TreatsPoints for local and overseas retail spends

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    Up to 3x Reward Points for various transactions

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    Up to 3x AmBonus Points on overseas expenditure

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    10% interest back on retail spends and cash advance transactions

    (Benefits)

    15% p.a. to 18% p.a.

    (Interest Rate)

    Waived for life.

    (Annual Fee)

    *A sales and service tax of RM25 shall be charged on new cards and upon card renewal.

    Features & Benefits

    • Most of these cards come along with a complimentary supplementary card.
    • A number of banks provide an annual fee waiver for both principal as well as supplementary card.
    • There is a wide array of cards that come with an annual fee waiver for lifetime. While there are some cards that do not have a fee for first two to three years. Subsequently, you have to use the card for a minimum amount in order to get a fee waiver.
    • These cards come with various value-added features like auto-bill payment, balance transfer, and excess limit services.
    • You can choose from a wide range of cards available under this category. This includes petrol cards, travel cards, rebate and rewards cards, and many more.

    How Do No Annual Fee Credit Cards Work?

    In order to illustrate how no annual fee credit cards work, let’s take the example of CIMB Cash Rebate Platinum Credit Card. The interest rate breakup for the card is as per the following table.

    Past Payment Behaviour Profit Rate charged
    Past Payment Behaviour Profit Rate charged
    Regular payments in the last 12 months 15% p.a.
    Regular payments in the 10 months out of a year 17% p.a.
    Regular payments in less than 10 months out of a year 18% p.a.

    Let’s assume that you have spent RM3,000 in a month, and payments have been made regularly for 10 of the last 12 months. As given in the table above, the interest rate accrued would be 17% p.a. This means that for each month, the interest would be RM42.50 each month. With regular payments in the following 12 months, the rate of interest would be 15% p.a. In that case, the interest per month would reduce to RM37.50.

    Reward Schemes/Miles/Cashback

    • Save more with cashback on certain transactions.
    • Get access to a number of offers and privileges.
    • Enjoy reward points on purchases and redeem them for vouchers and items from the bank’s catalogue.
    • Set automatic payments for bills.
    • Pay conveniently through instalments for retail transactions.
    • Consolidate your debts under the balance transfer plan and repay your debts with low interest rates.
    • Make contactless payments with the card at enabled merchants in Malaysia.

    Advantages of No Annual Fee Credit Cards

    You do not need to pay any annual fees on the principal or supplementary cards, hence allowing you to save more. The cards also provide cashback, reward points, and other privileges and benefits when you make transactions at participating merchants.

    Travel Insurance

    Credit cards in Malaysia also offer complimentary travel insurance for you and your family when you book flight tickets with them. The insurance cover personal emergencies during travel, such as injuries and death. The insurance would also provide protection against delay in flights, loss in luggage, and other travel-related issues. Among the cards given here, the PB Visa Infinite Credit Card and AmBank Visa Signature Credit Card provide complimentary travel insurance of up to RM500,000 and RM1 million respectively when you book flight tickets with the card.

    How do You Choose the Best No Annual Fee Credit Card?

    It is important to understand how you want to use the card. For example, if you plan to use your card for dining and shopping expenses, get a cashback card which would give you cash returns on your transactions. You can also choose a card, which gets you reward points on transactions. In this way, you can collect more points that can be redeemed later for different vouchers and items. For frequent travellers, a card that gives air miles or travel insurance can be the best bet.

    How to Make the Most of Your No Annual Fee Credit Card

    If a card gives you air miles, travel insurance, or access to premium lounges, then use the card for travel-related expenses. Ensure that the rewards points collected on transactions do not expire; redeem them from the bank’s catalogue.

    Don’t miss out on the deals and offers! Look for promotions and use your card accordingly.  

    Lost Card and Overseas Assistance

    You should immediately contact the bank in case you lose your card. Dial their helpline number or walk into the nearest branch and report the loss of your card. The bank would block the card immediately and issue a replacement card for a nominal fee.

    Each bank has a dedicated help-desk for queries related to international transactions. When travelling abroad, make sure that you contact the helpline number when you face any issues with your card. There are some premier support desks available with certain cards. Log on to the bank website and check the  contact details before you travel so that you can get adequate assistance in case you face any issues.

    Eligibility Criteria to Apply for No Annual Fee Credit Cards

    The eligibility criteria for each of the cards is different. Each of the above cards have specific age and income requirements.

    Required Age
    Minimum age requirement (Principal Card) 21 years.
    Maximum age requirement (Principal Card) 65 years.
    Minimum age requirement (Supplementary Card) 18 years.
    Maximum age requirement (Supplementary Card) 65 years.

    You need to have a certain income so that you can apply for the card. The income eligibility for the cards are given in the table below.

    Card Name Minimum Income
    Standard Chartered Visa Platinum Credit Card RM24,000 p.a.

    BSN Platinum Credit Card

    RM60,000 p.a.
    PB Visa Infinite Credit Card RM100,000 p.a.
    CIMB Cash Rebate Platinum Credit Card RM24,000 p.a.
    Maybank 2 Gold Cards RM30,000 p.a.
    HSBC Advance Visa Platinum Credit Card RM36,000 p.a.
    AmBank Visa Signature Credit Card RM80,000 p.a.
    Citi Simplicity+ Credit Card RM24,000 p.a.

    Documents Required to Apply for No Annual Fee Credit Cards

    The documents required are different for each credit card, depending on the type of applicant. Check out the list of documents for each type of employee.

    Applicant Type Documents Required
    Salaried employees
    • Copy of MyKAD, NRIC, or Passport.
    • Bank statements of the last 6 months.
    • Payslips of the last three months.
    Self employed
    • Copy of MyKAD, NRIC, or Passport.
    • Copies of Business Registration Certificate or Form 9, Form 24, and Form 49 orTrading License.
    • Income tax returns (Form B or the latest EA Form).
    • Company or personal bank statement of the last 6 months.
    Expatriate (if eligible) Letter of employer stating the duration of employment in Malaysia)
    Supplementary Cardholder Copy of MyKAD, NRIC, or Passport.

    Promotions on No Annual Fee Credit Cards

    • Enjoy 10% discount on bookings at Hotels.com when you make a minimum spend of RM400 with your Standard Chartered credit card. Use the code “SCBMY10” at the time of checkout in order to get the discount. The offer is valid till 31 December 2018.
    • Get a complimentary Lobster Bisque worth RM22.89 on a minimum bill of RM50 at outlets of Nice Catch restaurant when you use your Maybank credit card. The minimum bill amount is inclusive of service taxes and charges. The offer is valid unil 30 September 2019.

    Do check online for promotions and offers that are available on these credit cards. Choose your card which is best suited for your lifestyle and needs.

    FAQs on No Annual Fee Credit Cards

    Q. What is the cost of replacing my card?

    A. The cost of getting a replacement card is dependant on the bank. Some banks may charge an amount for replacing the card, while others do not charge anything. For example, for card replacement, the Standard Chartered Visa Platinum Card does not charge any amount.

    Q. Can I stop the contactless payment functionality on my card?

    A. Yes. You can contact the bank and stop the contactless functionality of the card.

    Q. Will I have to pay sales and service tax (SST) on my no annual fee credit card?

    A. A sales and service tax of RM25 would be added to the card only if it has been issued or renewed after 1 September 2018. The charge shall be added to the principal card only.

    Q.  If my card offers reward points would I get them when I use the supplementary card?

    A. Yes. Unless specified by the bank, you can get reward points on your transactions with your supplementary card. You can contact the bank and confirm the same, or go through the product disclosure sheet carefully.

    Q. Do cashback on the cards come with a upper limit?

    A. The cap on the cashback is dependent on the bank and card that you use. Among the given cards, the PB Visa Infinite Credit Card does not have a cap on the 0.3% cashback for local and retail purchases. Generally, you would find certain cards providing higher cashback with a cap on their transactions.

    Q. If I get an annual fee waiver with my card, is it applicable for both primary and supplementary cards?

    A. This may vary from bank to bank.

    Q. What are the other ways to get an annual fee waiver on my card?

    A. Some banks and institutions let you use the rewards points you earned on rewards credit card to offset the annual fee.

    Q. Will I be charged with an annual fee on my card if I use it overseas?

    A. No, you will not be charged with an annual fee in such cases. But if you use the card overseas, you will be charged with an overseas transaction fee that might vary from bank to bank.

    Q. What are the charges do I have to bear with my no annual fee card?

    A. Other charges include monthly payment, late payment charges, cash advance fee, overseas transaction fee, and other miscellaneous charges.

    Q. Do the cards with annual fee waiver come with high finance charges?

    A. No, the finance charges of these cards are capped at 18% p.a.

    Q. Is the “no annual fee” feature valid for conventional credit cards alone?

    A. Both conventional and Islamic credit cards can have a “no annual fee” feature. At times, such cards can even come with an annual fee waiver with a minimum annual/monthly spend.

    *Terms & Condition to get Gift Card Worth RM200 from Lazada or Ikea

    Apply for your new credit card through BBazaar and stand a chance to win a gift voucher on approval. You can get a gift card worth RM200 from either Ikea or Lazada. The offer is valid on credit card applications made between 19 December 2018 and 31 January 2019, and applies to any of the following cards.

    Alliance Bank Credit Cards Citibank Credit Cards Standard Chartered Credit Cards
    • Alliance Bank You:nique Rebate Credit Card
    • Alliance Bank You:nique Rewards Credit Card
    • Alliance Bank You:nique Rates Credit Card
    • Citi Cash Back Card
    • Citi Clear Card
    • Citi Simplicity+ Card
    • Shell-Citi Credit Card
    • Standard Chartered JustOne Platinum MasterCard
    • Standard Chartered Visa Platinum
    • Standard Chartered Platinum MasterCard Basic
     

    **Terms & Condition to Win an Ikea Voucher Worth RM500

    Win an Ikea voucher worth RM500 when you apply and get approval for a new credit card through BBazaar. The exclusive deal is valid from 19 December 2018 to 31 January 2019, and is applicable when you apply for any of the following credit cards.

    Alliance Bank Credit Cards Citibank Credit Cards Standard Chartered Credit Cards
    • lliance Bank Visa Infinite Credit Card
    • Alliance Bank Platinum Credit Card
    • Citi Prestige Card
    • Citi PremierMiles Visa Card
    • Citi Cash Back Platinum Card
    • Citi Rewards Visa Signature Card
    • Standard Chartered Priority Banking Visa Infinite Credit Card
    • Standard Chartered WorldMiles World MasterCard
    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.