Best Credit Cards In Malaysia 2016
Here in Malaysia, we have a variety of local and international banks that offer various types of credit cards – each with their unique benefits and privileges. However, we often see certain credit cards become more popular than the rest among consumers. These Malaysia credit cards are typically preferred by consumers due to distinguishing features like cashback, air miles, free petrol or other benefits.
Here’s a list of the best credit cards for Malaysians for the year 2016.
Top 3 best cashback cards
|Citibank Cash Back Platinum|
|UOB ONE Card Classic|
|HSBC Amanah MPower Platinum Credit Card-i|
One of the most rewarding feature of credit cards is the lucrative cashback offered by them. Through this feature, consumers are able to enjoy dual benefit of making purchases through their credit cards as well as earn cash returns for making future purchases.
Here are the top 3 cashback credit cards in Malaysia this year:
Citibank Cash Back Platinum card offers up to 5% cash rebate for petrol (with minimum spending of RM400), 2% cash rebate for groceries (with minimum spending of RM3,000), 2% cash rebate for mobile bill payments and 0.2% cash rebate for other retail transactions – everyday.
This card is perfect for the health conscious as it offers various rewards and discounts on health-related spending, such as discount on executive screening, and hospital room rates.
You can apply for this card if you are earning a minimum monthly income of RM5,000. The annual fee is RM206.70 for principal cardholders (inclusive of 6% GST) and the cash rebate is capped at RM20 for petrol, RM60 for groceries and RM30 for other retail transactions every month.
|• Earn up to 5% cash rebate on all retail spending
• Discount and privileges at over 24,000 hotels, restaurants, boutiques, retail outlets and golf clubs worldwide
• 24-hour personal concierge service while traveling
• Up to 20% off on executive screening packages at 20 participating hospitals
• 15% discount on walk-in hospital room rates (from RM120 and above) at 20 participating hospitals
• 2% cash rebate on all spending at Guardian, Watson and Caring pharmacies
• Complimentary 20” limited edition Condotti bag with Swarovski crystals worth RM699 or Car DVR worth RM400 upon RM1,500 spend (Campaign ends December 31, 2016)
• Automatic transfer of cash rebate into your account once you accumulate a minimum of RM20 rebate
UOB One Card Classic is the ultimate cashback credit card from UOB. The bank offers a host of exciting cashback on categories such as petrol, groceries, shopping, utilities and entertainment. Consumers get to enjoy up to 5% cashback every day when they use the UOB One Card Classic.
2% cashback is offered on weekdays for petrol and entertainment while 5% cashback is availed on the same during weekends. For groceries and utilities, 1% cashback is offered on the weekdays and 2% cashback for the weekends. Other purchases have a cashback of 0.2%, on both weekdays and weekends. This card sets a maximum spending amount entitled for cash rebates of RM300 per month for petrol, RM1,000 per month for groceries and RM200 per month for mobile bills. All the other categories have unlimited purchase amount.
Besides that, you also receive 1 SMART$ rebate point for every Ringgit spent at all UOB SMART$ merchants including BHPetrol, GSC, Parkroyal KL, My Diamond and Timberland. You will earn 1 SMART$ rebate point for every Ringgit spent.
The annual fee for the principal card is RM68 and minimum monthly income requirement is RM2,000.
|• 5% cashback on all your retail transactions at selected merchants
• Exclusive dining privileges of 15% discount at over 150 restaurants nationwide
• 0% Instalment Payment Plan at all participating merchants
• Earn 1 SMART$ rebate point for every RM spent and use the accumulated SMART$ rebates points to redeem your next purchases.
HSBC Amanah MPower Platinum Credit Card-i is an Islamic banking credit card that offers great cashback to its cardholders. You get to enjoy as high as 8% cashback on expenses paid for groceries and petrol. The 8% cashback is valid only for monthly purchases of RM2,001 and above, and 2% for purchases less than RM2,001. Cashback on both petrol and groceries is capped at RM50 per month, while you receive unlimited 0.2% cashback on other spending.
The annual fee for the principal card is RM254.40 (inclusive of 6% GST) and the minimum income requirement for this card is RM3,000.
|• Up to 8% cashback on petrol and groceries for monthly purchases of above RM2,000
• Exclusive privileges and discounts at over 6,500 retail outlets nationwide
• Special offers on shopping, dining, entertainment and travel worldwide
• VIP Smart Privilege Programme
Top 3 best travel cards
|Standard Chartered WorldMiles MasterCard|
|Citibank PremierMiles Visa Signature|
|AmBank Visa Infinite|
Travel credit cards in Malaysia offer great deals on air miles and special perks for frequent flyers. Make sure you book your flights with your card and you will benefit from free travel insurance and discounts on overseas hotels and dining. Here are the top 3 travel cards that offers you best travel-related benefits and privileges:
Standard Chartered WorldMiles MasterCard allows you to earn air miles faster while offering you travel privileges and comfort between trips. This is indeed one of the best cards for flight miles redemption. Cardholder earns 1 WorldMiles Point for every RM3 local spending and 3 WorldMiles Point for RM2 overseas spending. You can convert just 1,000 WorldMiles Point to 500 air miles with the frequent flyer programme of your choice such as the Malaysia Airlines Enrich Miles, AirAsia BIG Points, Singapore Airlines KrisFlyer Miles and Cathay Pacific Asia Miles.
Earn and accumulate rewards points from spending on groceries, shopping, dining and entertainment. However, this card does come with a hefty annual fee of RM636, and you will need a minimum income of RM7,500 a month to be eligible for this card.
|• Earn WorldMiles Points from retail spending that can be converted to Enrich Miles, BIG Points, KrisFlyer Miles or Asia Miles
• Unlimited complimentary access to KLIA and KLIA2 Plaza Premium Lounge
• Complimentary airport ride transfer
• 24-hour concierge services worldwide
• Up to 12% off hotel bookings
• Privileges and discounts across the region
• 50% off second ticket from Qatar Airways and complimentary second ticket from Bangkok Airways (valid for booking until April 15, 2016)
Citibank PremierMiles Visa Signature offers you VIP lifestyle with unlimited access to selected airport lounges, free rides home from KLIA, and air mile conversion for free flights. Every RM3 spend locally earn 1 PremierMile, while every RM3 spend overseas, earn 2 PremierMile points.
You also enjoy personalised assistance whenever you need it with Citibank’s Priority Line. These privileges include customised travel itineraries, unlimited access to selected Plaza Premium Lounges, insurance protection from loss of baggage coverage to emergency medical evacuation coverage.
To apply for this card, you need a minimum monthly income of RM8,333. The annual fee is RM600 for principal card and complimentary for supplementary card.
|• 1 PremierMile for every RM3 spent locally and 2 PremierMiles for every RM3 spent overseas
• Convert 1,500 PremierMiles to 1,000 Air Miles from over 90 airline partners
• Enjoy 20% discount at selected restaurants
• Unlimited complimentary access to selected Plaza Premium Lounges
• Complimentary ride home from KLIA when you spend overseas
• Overseas personal accident insurance coverage up to RM300,000
• Travel inconvenience coverage up to RM32,000
• 10,000 PremierMiles on your annual card anniversary
• No expiry date for PremierMiles
• Card is embedded with an EMV-compliant Smart Chip to protect against fraudulent activities
AmBank Visa Infinite allows you to travel like a boss, especially if you are a frequent flyer. With this card, 5 AmBonus points are rewarded for every Ringgit spent overseas on dining and shopping. You can convert 5,500 AmBonus points into 1,000 MAS Enrich Miles, Cathay Pacific Asia Miles or Singapore Airlines KrisFlyer Miles and redeem free flights for your next getaway.
It offers 24% discount on Immigration Fast-Track Service at 280 international airports and complimentary privileged access to Plaza Premium Lounge at 17 international airports for you to escape the hustle and bustle of busy airports. All you need to do is to swipe a minimum of 3 overseas transactions to the card within the month of visit to the lounge.
You will also get a complimentary Hilton Premium Club membership card that offers 50% discount on dining and 20% discount on best available room rates at participating Hilton hotels with a minimum spend of RM30,000 over a period of 12 months. With the Travel Accident Insurance with coverage up to RM2 million when full airline fare is charged to this card and Purchase Protection Plan with coverage of up to RM50,000 valid for 30 days from date of purchase, you can definitely travel with peace of mind.
The annual fee for this card is free for life. However, the minimum income requirement is slightly on the high side at RM12,500.
|• Earn 5 AmBonus Points for every RM1 spent overseas
• Convert 5,000 AmBonus Points into 1,000 Enrich Miles, Asia Miles, or KrisFlyer air miles
• 24% discount on Immigration Fast-Track Service at 390 international airports
• Complimentary privileged access to Plaza Premium Lounge at 26 international airports
• Complimentary Hilton Premium Club Membership Card
• Travel Accident Insurance of up to RM2 million
• Purchase Protection Plan with coverage up to RM50,000, valid for 30 days
• 0% Instalment Payment Plan for 24 months at all participating merchants
• Annual fee waived for life
• 24 hours concierge services
• Air miles conversion with 50 airlines partners
• Redeem gifts with AmBonus points of below 1,500
Top 3 best petrol cards
|AmBank CARz Platinum Card|
|RHB World Mastercard|
|Standard Chartered JustOne Gold MasterCard|
Petrol spending is a regular or substantial spend on a monthly basis or most individuals. If one can save on this spending category, the benefits would add up to significant lifelong savings. These credit cards offer a huge range of rewards, and some offer petrol or cash rebates.
Here are top 3 petrol credit cards in Malaysia that will help fill your petrol tanks quicker:
AmBank CARz Platinum Card, a credit card that caters for motorists packed with auto-related benefits. With this card, you get 5% cashback per month with a cap of RM80 if you make partial monthly repayments and 2% cashback per month with a cap of RM20 if you make full monthly repayments.
You also get 1x CARz point for every Ringgit spent on dining, entertainment, groceries and shopping. The annual fee for this card is free for life for principal holder. To apply for AmBank CARz Platinum MasterCard, you need to have a minimum monthly income of RM5,000.
|• Up to 5% cashback on petrol of any brand
• 1 CARz Point for every RM1 spent on retail transactions
• Use CARz Point to redeem auto related gods and services
• Free annual fee for life
• 0% Instalment Payment Plan for 24 months at all participating merchants
RHB World Mastercard offers great options for all your travel needs, whether you travel by land or air. It gives you up to 6% cashback for petrol, travel, dining and other retail spending nationwide. For travel and dining, cashback is capped at RM35 and RM15 for other retail spending. For overseas spending, you are entitled to 2% cashback with a RM100 cap. The total cash returns for the card is capped at RM220 per month.
Your first five visits to the Plaza Premium Lounges nationwide are complimentary. From the sixth visit, you enjoy 25% off walk-in rate and another 25% for your companion. You also enjoy 20% discount for Plaza Premium Lounges worldwide.
This card also covers you with a protection plan that includes travel accident insurance with coverage of up to RM600,000. There will be no annual fee for this card and the minimum monthly income requirement is RM8,333.
|• Up to 6% cashback at all petrol stations nationwide
• Travel Accident Insurance with coverage of up to RM600,000
• International concierge services
• Priority line access
• Preferred rates at RHB Bureau de Change for major foreign currencies
• 5 complimentary access to Plaza Premium Lounges in Malaysia
• 20% discount for access to Plaza Premium Lounges outside of Malaysia
• Access and benefits across 16 golf clubs in 6 South East Asian countries
• 50% off walk-in green fees at selected golf courses
Standard Chartered JustOne Gold MasterCard offers you good rebate for your petrol spending. Enjoy 10% petrol cashback or a petrol savings of up to RM840 a year at all petrol stations nationwide. This makes it one of the best petrol card in the market.
The petrol cashback are offered in three tiers. The lowest tier is up to 4% cashback, the middle tier is at 7%, while the highest tier is at 10%. You will need to fulfil the required spending amount to be eligible for each tier. The minimum retail spending for cashback is RM500, with RM300 of the spending on petrol. To enjoy the highest tier, which allows you to get the maximum petrol savings of RM840, is minimum retail spending is RM2,500 in a month.
Standard Chartered JustOne Gold MasterCard has an annual fee of RM185.50 (inclusive of 6% GST) for the principal cardholder. This card is not available as a supplementary card. The minimum monthly income requirement is low at only RM2,000.
|• Up to 4% cashback on petrol when your total monthly spending is between RM500 and RM999, including petrol spending of RM300. Rebate is capped at RM12 a month.
• Up to 7% cashback on petrol for total monthly spending between RM1,000 and RM2,499, including petrol spending of RM400. Rebate is capped at RM28 a month.
• Up to 10% cashback on petrol if you monthly spending is at least RM2,500, including RM700 spending on petrol. Rebate is capped at RM70 a month.
• Low minimum income requirement of RM2,000
Top 3 best 0% balance transfer plans
|BSN Balance Transfer Programme|
|HSBC Balance Transfer Plan|
|Maybank Balance Transfer Program|
The worst part about outstanding debt is that it keeps growing larger and becomes a seemingly endless and vicious cycle of repayments, leaving you with stress and almost no money for yourself. With a balance transfer plan, you can consolidate your credit card debts and clear them off in a far easier, and cheaper way. You will have the benefit of little to no interest depending on your chosen tenure. Find out how much you can save on interest by choosing the right balance transfer plan in Malaysia.
Here are the top 3 balance transfer plans in Malaysia that you can take advantage of if credit card debts are choking you:
BSN Balance Transfer Programme is the one for you if you have a large outstanding credit card debt. The outstanding debt from any credit card can be transferred to any of the 17 credit cards offered by BSN. The credit card bill can be consolidated with a low interest flexible payment option. The interest rate can be as low as 0% for up to one year. The repayment option is available for up to 36 months and no early termination fee is charged.
|• Repayment plans are flexible, depending your personal requirements and range from 3 months to 3 years
• 12 months: 0% for the first 6 months, and 0.30% for subsequent months
• 24 months: 0% for the first 12 months, and 0.375% for the subsequent months
• Minimum transfer amount is RM500
HSBC Balance Transfer Plan can get you back in control of your finances. There is no early termination fee or setup fee charged. You can choose from eight credit cards to transfer the outstanding balance to. The balance transfer rate can be as low as 0.42% per month for 6 months with the HSBC Credit Card. There are three plans offered:
- Plan A: 3% is charged upfront, 0% in the next 5 months on the balance transfer amount and your savings is 64%.
- Plan B: 0.58% is charged per month for 12 months on the balance transfer amount and your savings is 63%.
- Plan C: 0.42% is charged per month for 6 months on the balance transfer amount and your savings is 73%.
|• Balance transfer at a low rate of 0.42% per month for 6 months
• The minimum amount allowed for transfer is RM1, 000 and maximum of 95% of credit limit
• Up to 73% savings on the interest rate
• For new HSBC credit card holder, balance transfer of 0% is charged for 3 months
Maybank Balance Transfer Programme allows you to save on your credit card bills as lower rates of interest are offered and you can choose an appropriate plan that suits your needs. You are offered 21 cards to transfer your credit card balance to. 0% interest is charged on transfer of RM1,000 that will be paid over a period of 12 months – with 3% handling fee.
|• Choose from 5 plans to suit your balance transfer requirement
• The loan repayment period available from 6 months to 3 years
• 0% per month for 12 months balance transfer plan
• The minimum amount that can be transferred is RM1, 000 and the maximum is capped at RM50, 000
• Balance transfer from 3 banks at one time
Top 3 best dining cards
|Maybank 2 Gold Cards|
|Standard Chartered CashBack Gold MasterCard|
|Mach Visa Credit Card|
Want to dine out with your loved ones without having to break your bank account? Get a card with the best dining discounts, benefits and privileges, to save while you enjoy a great meal.
Here are the top 3 dining cards that will help you do just that:
Maybank 2 Gold Cards is considered as one credit card with the benefits of two credit cards (Maybank 2 American Express card and Maybank 2 MasterCard/VISA card), to be used whenever suitable. By swiping your Maybank 2 American Express card on the weekends, you will enjoy 5% cashback on dining and earn up to 1x Treatpoints for worldwide retail spending, effective of 15 April 2016. There will be no Treatpoints for spending on government.
On the other hand, for Maybank 2 MasterCard/VISA card, you will earn 1x TreatPoint if you swipe your card on all your retail spending, but no cashback provided – effective of 15 April 2016. There will be no Treatpoints for spending on government. You will enjoy a complimentary travel personal accident and travel inconvenience insurance if you charge your travel fares using your Maybank 2 Cards.
There is also no annual fee for the Maybank 2 Gold Cards including for the supplementary cards. However, for this card there is a cashback limit of RM50 per month and the reward points accumulated has an expiry period of 3 years from the month it was earned. To apply for Maybank 2 Gold Cards, all you need is just a minimum income of RM2,500 for Malaysians and RM5,000 for expats.
|• 5% cashback on weekend dining transactions on the American Express card
• Up to 5x TreatsPoints on local and overseas transactions on the American Express card, except for spending on petrol, government, insurance, education, utilities and easy instalment plan (EPP).
• Up to 1x Treatpoint for spending on petrol, insurance, education, utilities and easy instalment plan (EPP) on the American Express card.
• Up to 1x Treatpoint on local and overseas transactions on the Visa/MasterCard, except for spending on petrol, government, insurance, education, utilities and easy instalment plan (EPP).
• Travel Accident Insurance with coverage of up to RM1 million
• Travel Inconvenience Coverage covering missed connections, luggage delay, and luggage loss
• Retail Purchase Protection with coverage of up to RM15,000 per item or RM100,000 per card per year
• Return Guarantee exchange or refund of up to 90 days for maximum purchase price of RM1,500 per item or up to a maximum of RM6,000 per card per year
• Balance transfer of 0% per annum for a tenure of 12 months and one-time upfront fee of 3%
• 0% interest Instalment Payment Plan at all participating merchants
Standard Chartered Gold Cashback MasterCard allows you to spend more and earn more. This card is suitable for individuals looking to enjoy additional privileges apart from getting cashback on their spending.
To begin enjoying the cashback, you will need to spend at least RM500 and you will get 2% cashback for every RM1 spent (capped at RM10). When you spend more than RM800, your cash rebates will be upgraded to 3% for every RM1 spent (capped at RM25). And if your monthly spending exceeds RM1,500 (capped at RM50), you will get 5% cashback on your spending.
The cash rebates apply for dining, entertainment, groceries, shopping, and utilities transactions. These cashbacks are on top of the exclusive travel deals and more than 1,000 dining deals that come with this card.
Annual fee is charged at RM185.50 for principal card, and RM106 for each supplementary card. For the principal card, you will need to have a monthly income of at least RM2,000 and 21 years old; while for the supplementary card, you will need to be at least 18 years old.
|• Enjoy up to 5% cashback with minimum spending of RM1,500 monthly
• More than 1,000 dining deals nationwide
• 24-hour service line
• All-year-round discounts and privileges
• 0% Instalment Payment Plan at all participating merchants
Mach Visa Credit Card lets you customise your benefits and cash back according to your lifestyle and rewards you for being you. It allows the cardholder to earn up to 10% cashback from dining, shopping, entertainment, groceries and insurance/health related spending. You have four packages and a total of 12 categories to choose from. Each Package contains a selection of categories that best fits your lifestyle and spending habits.
|Social||Movies, Music & Events and Nightlife|
|Trendsetter||Dining, Style and Travel|
|Savvy||Groceries, Health & Fitness and Mobile|
|Others||Departmental, Tech and Online|
You can choose any one package and you will be charged RM5.30 per quarter (inclusive of GST) for each Add-On category from other packages. That comes up to RM21.20 a year for each Add-On category. You can switch your selected package and Add-On categories anytime you like. With this feature, you card will grow and change with you as you go through different life stages.
If you are looking for dining related benefits, the social and trendsetters package would be the best. You can earn cashback of 5% on your dining, 10% on cinemas, 2% on selected bars and clubs and 3% on selected music events. The cashback limit is RM100 quarterly for each selected category and RM50 monthly for other purchases not within any category.
The annual fee for this card is RM160, but waived with a minimum of 12 card swipes in 12 months. A minimum monthly income of RM2,000 is required for the principal cardholder.
|• Earn up to 10% cashback on retail spending in the selected category
• Choose and switch between these packages or categories as you like
• Annual fee of RM160 waived with minimum 12 swipes p.a.
Top 3 best cards for entrepreneurs
|Mach Signature Credit Card|
|Hong Leong Platinum Business|
|CIMB Cash Rebate Platinum|
Being an entrepreneur can often be hard on your finances, especially in the initial stages, and getting the right credit card can give your finances and your company’s finances a boost.
Here are the best 3 cards for all your entrepreneurial needs:
Mach Signature Credit Card offer good travel features for travelling entrepreneurs will help you earn some air miles for your travel spending. With this card, you will get 1 MAS Enrich Miles for every RM3 that you spent locally or for every RM2 that you spent overseas.
This card also allows you to enjoy the Plaza Premium Lounge in airport twice for the first year for free – allowing you to wait for your flight in a relaxed atmosphere. On top of that, you will also get to enjoy preferential foreign exchange rates; allowing you to save more money when you travel. It also comes with a Travel Accident and Inconvenience Insurance coverage not only for you but also for your dependents. Besides that, you get access to Visa and CIT travel desks for concierge service and personalised travel packages.
Annual fee for this card is waived by the bank for both the principal and the first three supplementary cards. Application for this card will require the individual to have a minimum income of RM8,334.
|• Get 1 Enrich Miles for RM3 local spending and RM2 overseas spending
• Free lifetime annual fee for principal & first 3 supplementary cards
• 2 Plaza Premium Lounge passes for the first year with minimum spending of RM50,000
• Preferential foreign exchange rates when purchasing currencies from Hong Leong Bank Bureau de Change
• Complimentary travel accident and inconvenience insurance coverage of up to RM1.5 million for you and your dependents
• Access to Visa and CIT travel desks for concierge service and personalised travel packages
• 0% interest Instalment Payment Plan for 6 months on overseas purchases between RM500 – RM20,000 in a single receipt
Hong Leong Platinum Business offer you benefits to support your operational needs such as managing your expenses, providing larger credit limits, consolidating statements, and more. Having a credit card makes bookkeeping easier and these summaries are also helpful in planning your future business expenditures.
This is a card that can expand your credit limit for you and your employees. With credit limit up to RM300,000, this card offers you a 0% interest credit period for 60 days for all retail spending. To enhance flexibility, It includes a cheque facility with a low interest rate (BLR + 6%).
Aside from that, you are entitled complimentary access to Plaza Premium Lounge at selected airports and preferential forex rates. This card also comes with security coverage which includes Travel Accident and Inconvenience Coverage and Retail Purchase Protection Coverage.
There is no annual fee if you make at least 24 swipes or spend RM15,000 in a year, otherwise, it is RM424. To apply for this card, you need a minimum income of RM10,000 and to be at least 25 years old.
|• Up to 60 days interest-free credit period for all retail transactions
• Business-size credit limit of up to RM300,000
• Travel Accident Insurance Coverage, Travel Inconvenience Coverage and Retail Purchase Protection Coverage
• Cheque facility, personalised business background on credit card and 24 hours cash accessibility
• Complimentary visit to Plaza Premium Lounge at selected airports (subject to minimum retail spending of RM2,500 within 30 days from date of visit)
• Preferential forex rates on purchase of foreign currency worth RM30,000 – RM150,000
• Annual fee of RM424 waived with a minimum of 24 card swipes or RM15,000 spending in a 12 month period
CIMB Cash Rebate Platinum offers one of the safest ways to make purchases or monetary transactions online. Entrepreneurs may find themselves spending hundreds to thousands online — from website hosting, to purchasing equipment and other monthly subscriptions. This card gives 5% cash rebate, up to 10% discounts and another 5% additional cash rebates when you shop online on various participating websites. Maximum cash rebate is capped at RM30.
Besides, it offers a 10% cash rebate on monthly interest charged with no maximum capping and 2% cash rebate on petrol and groceries and 2% cash rebate on mobile and utility bill payment via standing instructions. Maximum cash rebate is capped at RM50. No maximum capping for 0.2% cash rebate on other expenditures.
The annual fee for this card is free for life and there is also a cashback limit of RM50 per card. To apply for this card, you need a minimum income of only RM2,000.
|• 10% cash rebate on monthly interest charged
• 5% cash rebate on online spending and 2% cash rebate on groceries, petrol, mobile bill and utility payments
• 0.2% unlimited cash rebate for other expenditures
• Up to 10% discount and 5% cash rebate at Expedia and Agoda
Credit cards can be one of the most useful tools in your wallet. They can provide rewards, cashback and a variety of other benefits and privileges. Today you have more choices than ever, so finding the right credit card that best suits your various needs can be difficult. Finding the right credit card in Malaysia for your financial needs is important as that will allow you to save money while you spend and reap other benefits every time you spend.