Overview of RHB Credit Card
RHB is among the largest groups providing financial services in Malaysia. They specialize in consumer and corporate banking and also have a strong presence in the international market with centres across Singapore, Brunei, Cambodia and Hong Kong among others. The credit cards offered by RHB offer not just a form of plastic money but also provide great benefits such as cashback, AirMiles and travel insurance. The cards serve not just avid travellers but are also tailored for everyday use. The different credit cards from RHB and their features are listed below.
Why Choose RHB Credit Cards?
The RHB Credit Cards offer a slew of benefits to the cardholder making life more convenient and rewarding. The cardholder is entitled to privileges while flying and receives benefits such as travel insurance, airport lounge privileges and discounted airfares and travel packages. Everyday life’s expenses are also rewarded with cashback and reward points. The card makes paying bills more convenient by automatically charging them to your credit card. International acceptance of these cards are also another reason to apply for them.
Features and Benefits of RHB Credit Cards
- The minimum monthly payment for the RHB credit cards is 5% of the outstanding amount.
- The late payment fee is 1% of the outstanding amount.
- The Cash withdrawal is limited to RM 5000 per day.
- The cash withdrawal fee is 5.3% of the withdrawn amount and the interest charged on cash withdrawals is 19.08%
- The card has a balance transfer plan and a flexible payment plan with payment terms ranging from 6 months to 24 months.
- The cards offer a 20 day interest free period
Eligibility RHB Credit Cards
- The minimum age for the primary cardholder must be 21 years as at last birthday
- The minimum age for the supplementary cardholder must be 18 years of age.
- The minimum annual income required to avail RHB Classic, Tesco RHB Visa, RHB EVO Credit Card, RHB Travel Money, MyEG-RHB credit cards is RM 24,000.
- The minimum annual income required to avail RHB Visa Infinite Credit Card is RM 150,000.
- The minimum annual income required to avail RHB Visa Signature Credit Card is RM 100,000.
- The minimum annual income required to avail RHB Platinum Credit Card is RM 60,000.
RHB Credit Card Documentation
The applicant first needs to meet the eligibility criteria such as having attained the age of 21 years and meeting the required annual income. If the applicant meets the eligibility criteria, they can download the RHB credit card application forms from the website. While submitting the application, the applicant will also be required to submit documents that corroborate income details. The list of documents required depends on the type of applicant.
If the applicant is a salaried employee of an MNC, Public Listed Company or a government agency the required documents are
- A photocopy of both sides of the applicant’s MyKad.
- A copy of the latest EPF statement or the copy of the latest pay slip and the statement of the crediting bank account.
- If the applicant is availing an Islamic credit card, then they should check the Syariah compliance checklist which can be downloaded from the website.
If the applicant is a self-employed person or owns a business either wholly or in partnership, the required set of documents are
- A copy of the applicant’s MyKad.
- A copy of the Form 9, 24 and 49 in case the applicant owns a private limited company.
- A copy of the business registration certificate.
- A copy of the latest Form B with tax receipt.
- If the applicant is availing an Islamic card then they need to submit the Syariah compliance checklist.
If the applicant is a foreign national working in Malaysia, the required documents are
- A copy of the applicant’s passport.
- A valid work permit that has been valid for at least 6 months prior to the date of application.
- A copy of the latest salary slip and the statement of the crediting bank.
- A copy of the letter of employment.
All copies that are needed to be furnished with the application must be clear and legible copies.
RHB Credit Card Redemption
The benefits offered by the RHB credit cards cater to almost everyone, with cards offering not just cash back on all local and overseas retail expenses but also offer great lifestyle privileges such as offers on dining, shopping and entertainment. These reward points accumulated by the RHB credit cards can be redeemed for exciting gifts such as home furnishings or electronic gadgets.
The catalogue of rewards waiting to be claimed are updated consistently allowing cardholders to redeem the very latest gadgets the market has to offer. The RHB catalogue can be found on their website. RHB also offers on the spot redemption schemes. This scheme allows cardholders to redeem their points, fast, hassle free and allows for greater flexibility with an inbuilt option of being able to pay any difference amount in points through cash or the RHB credit card itself.
RHB Credit Card Customer Service
RHB prides themselves on setting a high level of customer service and work towards improving relationships between the bank and its customers. Cardholders can reach out to RHB via their service numbers for any queries or clarifications. The RHB customer service not only offers assistance in cases of payments, requests for card blocking, replacing stolen cards or general queries on statements and payments but also provide unbiased opinions for risks involved in investment options. The customer service provided by RHB have a multitude of channels including email, Fax and telephonic.
Customers can contact RHB customer service through
Telephone: 603-92068118. (24 hours, daily)
RHB Credit Card Application Status
If the aspiring cardholder meets the eligibility criteria, they can download the online application forms from the website and submit them with the required list of documents. Once the applicant has completed the application process, they can view the status of their online application by clicking on the application inquiry tab. The status of the application will be reflected within 30 minutes. If the status appears as “Approve-in-Principle”, then the applicant is required to submit the documents needed within 7 days. The final approval is subject to terms and conditions set forth by the Bank.
RHB Credit Card Payment
Paying credit card bills on time has never been easier. RHB bank has a multitude of payment channels that allows cardholders to make payments without having to stand in long queues at the counter. Payment modes include Interbank GIRO transfers and real time Interbank Instant transfers. Payments can also be made through ATMs and always has the option of the standard cash or cheque deposit at the nearest RHB branch.
Frequently Asked Questions-RHB Credit Cards
Q) What type of credit cards from RHB can be applied for online?
A) The online application is applicable for all RHB credit cards except RHB Business Credit Card.
Q) What is the minimum amount that needs to be paid on a monthly basis?
A) The minimum monthly amount that needs to be paid off is 5% of the bill amount that is due.
Q) Do the RHB credit cards have an easy payment option?
A) Yes. The RHB cards offer the RHB Smart Instalment plan that provides an instalment pay plan with payment terms ranging from 6 months to 24 months and interest starting from 0% when purchases are made at select merchants.
Q) Is there a balance transfer program?
A) Yes. The balance transfer program offered by all RHB credit cards are called RHB Smart Move Balance Transfer Plan and has interest rates starting from as low as 1.2%
Q) How long would approval of a credit card application take?
A) RHB has introduced instant credit card system at select RHB branches. This system would take approximately 10 minutes to approve a credit card application and issue the credit card provided the applicant has necessary documents and meets the eligibility criteria.
Q) Are there any late payment penalties?
A) It is always advisable to be a good paymaster and clear monthly bills on time. In case of late payment there is a penalty charged which is 1% of the outstanding amount.
Click here for all RHB Credit Card Promotions
Other Products offered by RHB:
Apart from offering Credit Card, RHB offers other products and services which include:
- RHB Personal Loan
- RHB Home Loan
- RHB Renovation Loan
- RHB ASB Loan
- RHB Car Loan
- RHB Fixed Deposit
- RHB Car Insurance
- RHB Insurance
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News About RHB Credit Card
RHB Strategizes to Contribute More on Domestic Loans by the End of the Decade
RHB Group Bhd’s retail banking division, being the bank has put a target in place for growing their total domestic loan contribution to a whopping 55% by the year, 2020. Domestic loans are Malaysian loans and are asked of business units, which can be anything from a retail store to large multinational corporations.
U Chen Hock, Executive Director, RHB Bank Bhd, in an interview mentioned that the growth target is said to be achieved with the help of the group’s balance sheet expansion as against reducing it from business contributions.
Last year, the group’s retail banking division’s base for total domestic loan was at 49.6%. This is driven by the fact that the retail banking division is determined to contribute to the group. As of now, RHB group retail banking make a contribution of approximately, 40% of the group’s revenue.
10th August 2016
RHB Bank Launches Private Equity Fund in Partnership with NY Investment Firm
RHB Asset Management (RHB AM) which is the asset managing company for RHB Group Holdings, is in a strategic partnership with Neuberger Berman (NB) an investment firm based out of New York for the launch of a multi-strategy private equity fund. This will be overseen by NB and it is the first of its type in Asia.
The Malaysian Bank, made a statement in which it was quoted saying that the fund, RHB Private Equity Opportunity Fund 1 enables investors an opportunity to make an entrance and participate in the global private equity investments. The fund is mainly targeted in the US along with Europe, allowing for investors to enjoy a scope to make an international investment.
Last week, RHB signed an agreement for strategic partnership with NB, which is a private, independent global investment firm owned by its own employees with RM 991.1 billion worth of assets under the management as on March 31.
2nd August 2016
RHB cuts base rate to 3.80 percent
RHB group has reduced their base rate from 3.90% to 3.80% per annum. The RHB Bank and RHB Islamic Bank have reduced the base financing rate to 6.75% from 6.85% per annum. This rate revision will spur an agile financial environment. This will also promote domestic demand and boost economic growth. This will also ease the financial burden of customers. The rate revision is in line with the Bank Negara Malaysia’s decision to reduce the overnight policy rate. Bank Negara Malaysia recently lowered the overnight policy rate from 3.25% to 3%.
27th July 2016
New Appointment of CEO and MD for RHB Malaysia
RHB Banking Group in Malaysia has appointed Datuk Adissadikin Ali as the new MD and CEO of RHB Islamic and Head, Group Shariah Business. This position was earlier held by Ibrahim Hassan. The appointment will be implemented on August 1 of this year. This appointment has been made to advocate the growth in the company’s Shariah business, to make it one of the leading Islamic banking companies in Malaysia, based on a statement by the bank.
Group Shariah Business is one of the key players of RHB Banking Group’s growth areas under the brand’s IGNITE 2017 transformation programme. Adissadikin comes with an experience of over 21 years in the field and was earlier the CEO of Prior to joining RHMB Banking Group, Adissadikin was the CEO of Alkhair International Islamic Bank Bhd since June 1, 2015. Prior to that he was the President and CEO of Export-Import Bank of Malaysia Bhd (EXIM) from October 2010 to May 2015.
14th July 2016
RHB Capital Looks Forward to Strong Growth and Profitability despite Moderate Growth in Malaysian Economy
RHB Capital Bhd has a positive outlook for growth and profitability in the coming year despite the moderate economic growth of Malaysia.
Datuk Khairussaleh Ramli, RHB Bank’s group managing director said that the bank plans to maintain the quality of the bank’s sound assets and is focussed on bringing about operational efficiency. The internal reorganisation coupled with the completion of its rights issues which are expected to be completed by first quarter of 2016 will bring about a strengthening of its capital position and allow for continuous growth. The price per rights shares is set at RM4.82
As part of its internal reorganisation plan, RHB Capital plans on transferring certain assets and liabilities of its units, including equity interest to RHB Bank.
RHB Capital posted a lower net profit of RM194.53 million in the third quarter financial period as compared to the corresponding period last year. Its revenue also saw a fall in the third quarter as compared to the previous year and attributed the low profit and revenue to higher impairment on loans, lower trading income and rising operational costs.
03rd December 2015