Overview of Public Bank Credit Card
Public Bank set up in 1966 has grown to become the third largest bank in Malaysia with assets totalling over RM 345 Billion. The bank has a staff strength of over 18,000 and offers holistic banking services for consumer banking, investment banking, Islamic banking and management of trust funds among other services. The Public Bank credit cards offer great benefits in the form of cashback on every Ringgit spent and travel insurance with cover up to RM 500,000.
The types of Public Bank credit cards and their features are listed below:
Why choose Public Bank Credit Cards
The credit cards offered by Public Bank give the cardholder a chance to earn cashback and thereby reduce his expenses. The cards also cater to the avid traveller and provide not only cashback on overseas expenses but also provide complimentary insurance with a cover going up to RM 1 Million. The cards also grant access to a 24 hour concierge service and have features such as balance transfer and flexible payment plans. The cards comes with a 20 day interest free period.
Features and Benefits of Public Bank Credit Cards
- The minimum monthly payment is 5% of the outstanding amount
- The card allows for a RM 5000 daily cash withdrawal and a withdrawal fee of 5.3% of the withdrawn amount.
- The interest charged on cash withdrawals is 19.08%
- Late payment attracts a penalty of 1% of the outstanding amount
- The cards are equipped with a balance transfer plan and flexible payment plan
Public Bank Credit Cards Eligibility
- Anybody can apply for these credit cards
- The minimum age of the primary cardholder should be 21 years as at last birthday
- The minimum age of the supplementary cardholder should be 18 years as at last birthday
- The minimum income required to avail the Public Bank Visa Classic, Public Bank Executive MasterCard and Public Bank Visa Gold credit card is RM24000
- The minimum income required to avail the Public Bank Platinum Visa and Platinum MasterCard is RM 60000.
Public Bank Credit Card Documentation
The credit cards offered by Public Bank have a range of benefits such as cash back or frequent flyer miles that encourage the cardholders to utilize their cards more often and be able to extract the maximum value from their purchases. Aspiring cardholders can obtain a copy of the credit card application form either from the website or at the nearest Public Bank branch. Once filled out, they need to be submitted along with a list of supporting documents that corroborate the income details of the applicant. The list of required documents varies on the type of income drawn by the applicant.
For those applicants who are employed in a MNC, a public listed company or who are employed in a government agency, the required documents are
- A copy of the applicant’s latest Pay slip.
- A copy of the applicant’s latest EA statements.
- Latest EPF statement.
- A copy of the applicant’s employment letter.
For those applicants who are self-employed, the required documents are
- A copy of the past 1 years tax receipts or
- A copy of the CASA statement for the past 6 months or
- A copy of the CASA statement of the company if the applicant is the company director.
For applicants who have variable incomes such as sales based incentives, the required documents are
- Copy of Banks statements, commission statements or vouchers, fee statements.
- Latest dividend and interest statements dating back at least 3 years.
For applicants with other sources of income the required documents are
- Copy of Tenancy agreements.
- Copy of Annuity Statements.
- Copy of Pension Statements.
For applicants with an overseas income, the required documents are
- Copy of the employment letter.
- Copy of the latest pay slips dating back at least 3 months.
Any additional documents confirming the applicant’s income can be requested at any time at the discretion of the bank. Documents provided should be clear copies and the documents are non-returnable.
Public Bank Credit Card Balance Transfer
Public bank credit cards allow cardholders to manage their finances effectively by transferring any outstanding dues on to the balance transfer scheme. This scheme has varying tenure options to choose from and are 6 12 and 24 months. The minimum amount that can be transferred under this service is RM 1000. The balance transfer scheme has an interest rate of 1% p.a. on any amount between RM 1000 to RM 4999 for a tenure of 6 months, an interest rate of 0% for any amount higher than RM 5000 for the same tenure. The other options available are 12 months for a minimum amount of RM 3000 at an interest rate of 2% and 24 months for an amount greater than RM 3000 for an interest rate of 5%.
|Read More on Public Bank Balance Transfer|
Public Bank Credit Card Customer Service
Public Bank offers world class customer service for each of their products. Customers can reach out to have their queries answered. Be it credit cards, loans or other investment products, the customer service offered by Public Bank will assist every step of the way. The customer service for Public Ban credit cards are available 24 hours a day and can be reached at 603-2176-8000. Customers can even have queries answered via email by dropping an email to email@example.com.
To report loss of credit card customers can dial 603-2175-8555 and lines are open 24 hours a day.
Frequently Asked Questions - Public Bank Credit Cards
Q)Do the credit cards from Public Bank offer a flexible payment plan?
A)Yes. The cards have an instalment payment plan ranging from 6 months to 36 months for RM 500 onwards with 0% interest from participating merchants
Q) What are the eligibility criteria to keep in mind before applying for the credit cards?
A) The eligible age should be 21 years for the primary cardholder and they should earn the minimum annual income as specified for each card.
Q) What is the minimum payment for these credit cards?
A) The minimum payment per month should be 5% of the outstanding bill.
Q) Are there any penalties for late payment?
A) Ideally, one must pay their bills on time. In case of late payments, the cards charge a 1% late payment fee on the outstanding amount.
Q) When will the cardholder receive the cashback?
A) Cashback varies for each card. The cashback earned is credited directly to the cardholder’s account and is reflected in the card’s monthly statement.
Click here for all Public Bank Credit Card Promotions
Other Products offered by Public Bank:
Apart from offering Credit Card, Public Bank offers other products and services which include:
- Cash vs Cards Payments Malaysia
- How to Find the Perfect Credit Card in Malaysia
- How to Improve your Credit Rating in Malaysia
- How to Increase Credit Limit in Your Credit Card
- How to Pick an Emergency Credit Card
- Student Credit Cards in Malaysia
- Supplementary Credit Cards in Malaysia
- When to Use Credit over Cash
- Shed the Excess Interest Rates
- Protecting One’s Credit Card While Travelling
- Defaulting Your Credit Card Bills in Malaysia?
- Top 5 Reasons Why Owning a Credit Card is Good for You
- How to improve your chances of having a credit card approved
- Credit Card fraud: Are you aware of it?
- Understand Credit Card interest free period
- Reward Credit cards Malaysia
- Best Cash Back Credit Cards in Malaysia
- Best Zero Annual Fee Credit Cards in Malaysia
- Personal Loan Against Credit Card
- How to Maximise Your Credit Card Benefits
- Popular Credit Card Fees and Charges in Malaysia
- How to Apply for Credit Cards in Malaysia for Foreigners
- Top 10 Credit Cards in Malaysia 2016
- Best Low Interest Rate Credit Cards in Malaysia
- What charges do you pay for when you swipe your card overseas
- Best Petrol Credit Cards In Malaysia
- Credit Cards for Employees in Malaysia
- Common Mistakes to Avoid While Applying for a Credit Card
News About Public Bank Credit Card
New credit cards launched by Public Bank for youngsters
The PB Quantum MasterCard and PB Quantum Visa credit cards have been launched by Public Bank Bhd that will take care of the various lifestyle needs of the youngsters.
Tan Sri Datuk Seri Tay Ah Lek, managing director of Public Bank said that these two credit cards were introduced keeping in mind the face-paced lifestyle of the youngsters. It will cater to people who indulge in online shopping, entertainment and dining frequently.
Lek said that these cards were aiming a market that would yield a minimum income of RM36,000. Ng Kong Boon, visa country manager said that the PB Quantam Visa Credit Card was equipped with Visa payWave. This technology of payment will provide Malaysians with a easier and more convenient method of paying for goods and services. He added that in Malaysia, Visa payWave transactions have witnessed more than two million transactions and it is just increasing by every month.
The organisation is confident that the introduction of these two cards will fuel the trend of cashless transactions as aimed by Negara Malaysia. Cardholders will be able to convert their retail purchases of over RM1,200 on a single receipt over a period of 12 months using the FlexiPay Plan at 0%.
30th March 2017
Public Bank announces early redemption of capital securities
Public Bank announced that the notice of early redemption has be given to the Securities holders and that the outstanding securities will be redeemed by them. The securities will be redeemed at the principal amount with the accrued interest on 22nd December, 2016. The shares in Public Bank closed down 12 sen at RM19.54 giving it market capitalisation of RM75.84 billion.
25th November 2016
Public bank is closing in for the title of Malaysia’s most valuable bank
Public Bank’s market capitalisation has gone up 8% to RM77.2 billion as the shares settled to an all-time high of RM20 at the start of November, 2016. Maybank’s market capitalisation rate has dropped by 6.4%. Though the pace has lowered for loan growth in Public Bank, it is still stronger when compared with the industry’s average. The performance of Public Bank has been great due to the best asset quality, growth, and its cost-to-income ratio.
7th November 2016
Malaysia’s Public Bank’s net profit increased by 3%
Public Bank is Malaysia’s top lenders and it saw an increase in the net profits by 3% for the third quarter. The pre tax profits increased in various operating segments that includes hire purchase, fund management, corporate lending, investment banking, retail operations, etc. The company’s growth has been attributed to healthy loans and deposit growth and stable asset quality. The focus of Public Bank has been in lending and deposit taking. The bank plans to grow customer lending by focusing on purchase of non-residential and residential properties and passenger vehicles. It is also looking forward to secure low cost deposits and higher retail.
27th October 2016
FinanceAsia Awards Public Bank for banking excellence in Asia
Public Bank Bhd was awarded for excellence in banking in Asia for over 50 years of its existence by FiananceAsia, a Hong Kong-based business publication. The renowned publication presented this award to the bank's founder, chairman, Tan Sri Teh Hong Piow at Public Bank's 50th anniversary banquet on Saturday in Kuala Lumpur, as per th bank’s statement.
FinanceAsia’s publisher Jonathan Hirst also mentioned saying that the bank's financial performance and growth rate as being "fantastic".
10th August 2016
Public Bank’s second quarter dividend totals to RM1 billion
Public Bank posted an earning of RM1.25 billion in the second quarter that ended on June 30th, 2016. Which was up by 11.4% from the previous year. The bank declared an interim dividend of 26 sen a share. The first interim dividend will be paid on 22nd August, 2016. The earnings of the bank rose by 4.9% in the first half. The Public Bank group achieved a pre-tax profit of RM3.20 billion. The profits of the bank improved by the continued healthy expansion in deposits and loans. The net interest income increased to 9.4%.
1st August 2016
Mitsubishi UFJ Financial Group, a major stakeholder in Public Bank
Mitsubishi UFJ Financial Group has emerged as an important shareholder in Public Bank. The group holds an indirect stake of 5.002% in the bank. This accounts for around 193.15 million shares of Public Bank. Public Bank is one of the most popular banks in Malaysia.
The bank offers banking services and products to Malaysians as well as expats. These services include private banking, retail banking, commercial banking, investment banking, asset management etc.
Public Bank also has a full-fledged division that caters to the Islamic banking needs of Malaysians.
6th November 2015