• No Annual Fee Credit Cards

    A number of banks offer a range of credit cards that have no annual fee. There are several credit cards that come with annual fee waiver for life. There are some cards that require a minimum spend per year or a minimum number of swipes per year for you to get an annual fee waiver.

    Compare Credit Cards With No Annual Fee

    Card Name Benefits Annual Fee Interest Rates
    HSBC Amanah Premier World MasterCard Credit Card-i
    • This card comes with a high travel coverage
    • You can also earn 1% cash rebate on the transactions made overseas using this card
    • On every local retail purchase completed using this card, you can get a 0.5% cash rebate
    • The card comes with a complimentary supplementary card and emergency cash coverage of up to USD2,000 per day if you lose your card
    • No annual fee
    • 15% p.a.
    Maybank 2 Gold Card
    • This card comes with joint benefits of two cards: Maybank 2 MasterCard and Maybank 2 American Express Card
    • You can earn up to 5X TREATSPoints on all purchases made locally as well as overseas
    • You can also use the card on weekends to get up to 5% cash rebate with a monthly cap of RM50
    • The card comes with a supplementary card
    • No annual fee
    • 15% p.a.
    Citi Simplicity+ Card
    • No late payment charges
    • You can earn 10% interest back on retail purchases, if you make the minimum payment on a monthly basis
    • You can enjoy Citi World privileges with this card
    • No annual fee
    • 15% p.a.
    CIMB Tesco Platinum Credit Card
    • You can use the card at Tesco and get a 5% rebate on everyday purchases
    • You can also earn Tesco Clubcard points using this card
    • The card gives you an ease of payment with tap and pay feature
    • The card also comes with a complimentary supplementary card and a Touch n’ Go Zing Card
    • No annual fee
    • 15% p.a.
    BSN Classic Credit Card
    • The finance charge associated with this card is as low as 11% p.a
    • The card is accepted globally and can be used to pay bills and make payments for retail transactions
    • You can get free travel inconvenience and accident coverage with this card
    • The card comes with a free BSN Zing PLUSMiles Card that comes with a touch n’ go feature
    • No annual fee
    • 13.5% p.a.
    Standard Chartered Visa Platinum Credit Card
    • You can earn 5x point with the use of this card for retail transactions overseas
    • You can earn 1x points for every local purchase made on this card
    • You can earn additional bonus points if you charge RM1,500 on the card in a month
    • You can get a cashback of RM100 if you use the card within the first 45 days of approval
    • No annual fee
    • 15% p.a.
    PETRONAS Maybank Visa Credit Card
    • You can earn 8x TREATSPoints when you use it for grocery shopping and at PETRONAS petrol stations during the weekends
    • You can also earn 5x TREATSPoints during the weekdays at PETRONAS
    • The card comes with free Maybankard Touch n Go Card
    • The card is accepted all around the world and can earn you travel discounts too
    • No annual fee
    • 15% p.a.
    Alliance You:nique Card
    • You can enjoy a fee waiver if you spend RM5,000 on the card or perform 12 swipes in a 12-month period
    • You can use the card for retail transactions like petrol, groceries, and many more and get 3% cash rebate
    • You can also personalise the card and choose the card-face according to you
    • No annual fee for first 3 years
    • 9% p.a.
    Bank Rakyat Credit Card-i Platinum
    • You can get an annual fee waiver from third year onwards if you use the card at least once a year
    • The card comes with a takaful coverage and zero mark-up rate on all the transactions made overseas
    • The Rakyat Rewards earned with the transactions made on this card can be converted into cash
    • You can also enjoy privileges and discount offers provided by MasterCard
    • No annual fee for first 2 years
    • 13.5% p.a.
    AmBank BonusLink VISA
    • You can enjoy a fee waiver from the third year onwards with 12 swipes per year
    • You can use the card and earn 3 BonusLink Points per RM10 spent and 6 BonusLink Points per RM10 spent locally and overseas respectively
    • The card comes with an auto-bill payment feature for ease of bill payment and AmFlexi-Pay to help you manage your funds
    • You are also allowed to exceed the dedicated credit limit assigned to your card with excess limit service
    • No annual fee for first 2 years
    • 15% p.a.

    Features & Benefits

    The following are the benefits and features of a no annual fee credit card:

    • 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 Fees Credit Cards Work?

    From travel perks to cash rebates, any conventional credit card comes with an array of benefits. Card issuing companies usually charge an annual fee for the services they provide. However, card issuers could always do away with this annual fee.

    No annual fees credit cards work much the same way as every other credit card. The only difference is that you won’t have to pay an annual fee to keep the credit account open.

    How Do You Choose The Best No Annual Fee Credit Cards?

    No matter what your lifestyle choices are or how you spend your money, there’s an extensive list of options when it comes to no annual fee credit cards. While the common factor is that there’s no annual fee as such, the interest or profit rate is what takes precedence.

    You should also compare different cards in terms of what they offer and what they don’t. This way, you can get a card that gives you the most value for all your spends. Some cards offering high rewards may come with an annual fee that can be waived.

    If you think your spending habit can cover for the minimum spend requirement for a waiver, then you should shortlist such cards too.

    Eligibility Criteria

    For most no annual fee credit cards in Malaysia, the minimum age requirement for principal cardholders is 21 years and for supplementary cardholders is 18 years. The minimum income required may vary depending on the issuing bank, the type of card, and its features as well as benefits. Some no annual fees cards are even open to foreign applicants.

    How Do You Apply For A No Annual Fees Credit Card?

    The application process for a no annual fee credit card is relatively easy. For hands-on assistance, you could visit the bank’s nearest branch to apply for the card. If you don’t have much time on your hands, you could always visit the bank’s website and fill out the online application form. You could also contact the bank’s customer service team for assistance with your credit card application.

    FAQ's

    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.

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