Best Islamic credit cards

Compare all Islamic Credit Cards in Malaysia - iMoney.my

We found 21 credit card(s) for you!

Here's some popular credit cards for your reference!

Up to 8% Cash Back on weekends and 1% Cash Back on Weekdays

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
-

Up to 5 TreatPoints on all overseas spending, and 2 Treatpoints spent locally

Interest Rate
15% p.a.
Annual Fee
RM 800
Cashback
-

Up to 2x TreatsPoints from retail spending

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
-

Get up to 8% cashback everyday on your  petrol, groceries & e-Wallet spending! 

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
Up to 8%

Earn cashback of up to 0.3% from retail transactions from all certified Halal merchants, and get up to RM100,000 of Takaful protection!

Interest Rate
13.5% p.a.
Annual Fee
RM 60
Cashback
Up to 0.3%

Earn up to 1% cashback on retail spending!

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
Up to 1%

Earn up to 8% Cash Back on weekends and 1% cash back on weekdays from petrol spending at PETRONAS

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
-

Earn up to 10x reward points for Movie, Overseas,Online, Health, Insurance, Shopping & other Retail spend ! You also won’t miss out on golf privileges at Kota Permai & Sungai Long Golf & Country Club too!

Interest Rate
15% p.a.
Annual Fee
RM 212
Cashback
-

Get Takaful protection with coverage of up to RM100,000, and also earn up to 0.3% cashback on retail transactions at all certified Halal merchants!

Interest Rate
13.5% p.a.
Annual Fee
RM 130
Cashback
-

Get cashback of up to 0.3% from retail transactions at all certified Halal merchants, RM100,000 of Takaful protection coverage, and Travel Accident insurance coverage too!

Interest Rate
13.5% p.a.
Annual Fee
RM 388
Cashback
-

Enjoy upto 1% cash back spent overseas & 0.5% on local spent

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
Up to 1%

Earn up to 2x BSN Reward points from retail spending, and receive Travel Accident insurance coverage of up to RM100,000!

Interest Rate
8.88% p.a.
Annual Fee
Free
Cashback
-

Earn BSN Happy Reward points of up to 2x with all retail spending, on top of Travel Accident insurance coverage of up to RM100,000!

Interest Rate
11% p.a.
Annual Fee
Free
Cashback
-

With this card you earn up to 2x BSN Reward Points with all retail spending, and Travel Accident insurance coverage of up to RM300,000!.

Interest Rate
13.5% p.a.
Annual Fee
Free
Cashback
-

All your overseas retail spending will be rewarded with up to 2x BSN Reward points, included with Travel Accident insurance coverage of up to RM300,000!

Interest Rate
13.5% p.a.
Annual Fee
Free
Cashback
-

This card rewards up to 2x BSN Reward points with all retail spending, and get covered with Travel Accident insurance of up to RM500,000!

Interest Rate
9.95% p.a.
Annual Fee
Free
Cashback
-

Collect up to 2x BSN Reward points from all retail spending, and get Travel Accident insurance coverage of up to RM500,000!

Interest Rate
9.95% p.a.
Annual Fee
Free
Cashback
-

7% cash rebate for Setel transaction with statement balance of RM1,500 and above,5% cash rebate with statement balance of RM1,500 and above. 3% cash rebate with statement balance below RM1,500!

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
Up to 7%

10,000 TreatsPoints on first spend, exclusive discounts on dining, golf privileges

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
-

5% rebate on petrol and grocery on Friday and Saturday

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
RM50 /mth

5% rebate on petrol and grocery on Friday and Saturday

Interest Rate
15% p.a.
Annual Fee
Free
Cashback
RM50 /mth
Last updated: Nov 11, 2021

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FAQs Islamic Credit Card in Malaysia

Credit cards in Malaysia work similarly to personal loans. When you make a payment using one, you are essentially “borrowing” money from the card issuer. By the end of each month, you are expected to repay the amount you’ve “borrowed”. Failure to do so would see you being charged an interest on your unpaid amount.

  • Islamic credit card is one of the many products offered by Islamic institutions (mainly banks) to allow an individual to make purchases on credit. This credit cards adhere to the principles of Al Bai Bithaman Ajil, whereby it is a sale (profit is included in the sale) and purchase transaction on a deferred payment basis but comes with a pre-agreed payment period. This is when a bank pays for the "goods" or "services" of the merchant and sells it back to you. With these principles, the consumer will have an interest-free and penalty-free card.

  • Islamic credit cards have almost similar functions to that of personal loans. When you make a purchase by swiping your card, you are essentially asking the bank to pay for the purchase first. However, the bank expects us to pay them back the money in a period of time. If an individual fails to make the full payment, profit will be charged on the outstanding balance.

  • With different features, benefits, terms and conditions, privileges and functions of the Islamic credit cards in Malaysia, these are some of the major categories of the card:

    • Reward points: These cards offer you reward points for each transaction that you make on the card (depending on the terms and conditions). These points can be used to exchange for gifts or vouchers; depending on what is prepared and provided by the card issuer.

    • Cash back cards: These cards offer you cashback for your transactions (subject to the type and amount of spending).

    • Low profit rate: These cards have a low profit rate on outstanding balances (allowing the cardholder to pay lesser interest charges).

    • Travel miles: These cards offer you travel miles for the transaction on your cards. These points can be exchanged for air tickets, seat upgrades and/or any other travel-related benefits.

    • Petrol Rewards: Cash rebates and/or points are provided for spending at petrol kiosks for these cards.

    • Dining rewards: Enjoy exclusive discounts, promotions and rewards from your favourite casual and fine dining restaurants.

    • Shopping discounts and rewrds: If you like shopping, choose a credit card that rewards you when you shop at your favourite malls or merchants.

    • Premium: Fine-dining, access to airport premium lounge, exclusive access to clubs and events, and golfing are provided for these cards.

  • The profit rate in Malaysia usually comes in the range of 15% - 18% p.a. Some card issuers have a lower profit rate (subjective to card issuer). The profit rates come in a tiered system whereby to enjoy a lower profit rate on your oustanding balance, you will need to make a consistent prompt repayments; otherwise a high profit rate will be charged to your oustanding balance.

  • Cardholders generally needs to make a minimum monthly repayment of 5% on their credit card bills (or a minimum of RM50 - depending on the bank) by the due date of each month. Failure to make the minimum monthly repayment will not only make the profit rate charged on your outstanding balance to rise to a higher tier, you will also be charged a late payment penalty of 1% (or a minimum of RM10 - depending on the bank).

  • Individuals with income of RM36,000 or less in a year, will have their credit limit to be limited to twice of their monthly income. If an indivual makes RM2,5000 a month, the credit limit would be a maximum of RM5,000 (2 x RM2,500). For individuals who earn more than RM36,000 in a year, the credit limit will be determined by the bank.

  • Individuals with income of RM36,000 or less in a year, can hold a maximum number of 2 credit cards. If your annual income if more than RM36,000, the maximum limit of the number of credit cards that you can hold is removed. For these cards, most of them tend to have annual fees (but will be waived under a certain condition).

  • An Islamic Credit card can be applied through iMoney by using our free online calculator. Documents needed for application differ from one card issuer to the other but generally includes:

    For employees:
    A copy of your MyKad (both sides), latest three-month payslips + latest three-month bank statements OR latest three-month EPF statements.

    For self-employed:
    A copy of your MyKad (both sides) and latest Borang B/BE with LHDN acknowledgement.