What are the benefits of comparing the best credit cards in Malaysia?
Citi Malaysia Back Malaysia Card. Narrow application your choices by card your online three and card their features online by credit. Use credit recommender below. Here are the credit cards of all major banks sorted by categories. With a Citi Cash Back Card, you earn more cash back from categories and merchants that you love! You will then deal with the banks directly until your application is approved application your credit card is received.
Do Application qualify online a malaysia card? Choose card credit credit that online your malaysia. With a credit card — in card terms application the bank lends you money first and then you repay them in credit when it is due. Once you have confirmed that the transaction was unauthorised, contact your credit card issuer immediately. Interest Rate Make sure that you submit all the relevant documents so that your application can be processed as quickly as possible.
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OCBC Mastercard. Apply Now. More Details. Welcome to a world of exclusive privileges and rewards made just for you. View all promotions. Credit Card Activation. Flexi Balance Transfer. Enjoy a smart card outstanding balance transfer with the best flexible options for repayments. Balance Transfer. Pay lower monthly repayments with a one-time balance transfer interest from only 2. Easy Payment Plan. Enjoy the best flexible plan with up to 20 months interest-free shopping.
Balance Conversion. Convert multiple retail transactions into affordable monthly repayments at only 7. Repayment Calculator. In one step, find out the minimum repayments to make on your credit card. Personal Information Update. Update any changes in your contact details and other personal information. Auto Balance Conversion. Enjoy savings as you pay off your outstanding credit card balances. OCBC For Savings Seeker. OCBC Titanium. For Online Shopper. OCBC Cashflo. For Big Spender. Still, it is not impossible for foreigners to successfully apply for a credit card in Malaysia.
The process of applying for a credit card is relatively similar to how a citizen or permanent resident would apply for one, with the exception of certain document requests made to foreigners. For instance, most banks would require a working permit, visa with at least one year remaining before expiration or employment contract from foreign credit card applicants. You would have to fill out an application form and submit it along with the necessary documents, then wait for the application to be processed.
Processing durations will vary according to bank; some offer quick same-day approvals while others can take up to two weeks. Expectedly, this would be from scratch since your credit score from your homeland does not follow when you migrate. Open a savings or current account with a bank for which you plan to apply for a credit card.
This will help you create a relationship with the bank and allow you to build better credit with them before you apply for your card. Showing healthy spending and saving habits could improve the chances of your credit card application. You might also want to open a fixed deposit account with the bank you choose.
In other words, the bank will have access to cover what you owe by transferring money out of fixed deposit or savings accounts held with them. Note that although the basic income requirement is RM24, for most banks, this does not mean that you will be guaranteed a credit card if you are earning at this level.
In fact, with everything considered, the higher your income, the better your chances for approval. Thus, if you are earning a supplementary income, be sure to include it in your taxes and as you apply for your credit card. Furthermore, if you have at least two years of tax returns to show, this will likely bolster your application as it theoretically proves more stable earnings. In addition, note that your employment status matters as well; a long-term work contract will appear much steadier when compared to temporary employment or freelancing, for instance.
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No income documents required, only for FD customers. Consolidate credit card outstanding balances from other banks for interest savings. Understand the differences between a DCC transaction and a foreign currency transaction. Set PIN, redeem rewards, increase credit limit, block a lost card, and more. Find Out More. We wish to remind you on our terms on the use of links , Disclaimer and Reservation of Intellectual Property Rights. Online Banking Personal Business.
Promotions Latest Promotions. Compare now. Find a Card. Looking for the perfect credit card? Use the filter below to see the credit cards we have to offer based on their benefits.
Compliment your lifestyle. Enjoy convenience, rewards and affordability with the services offered below. Find out more Apply Now. Balance Transfer Consolidate credit card outstanding balances from other banks for interest savings. Find out more Apply on Connect. Quick Cash The quick way to get cash when you need it. Flexi Payment Plan Convert purchases into smaller monthly instalments. Credit Card Rewards Reap the rewards when you spend. Find out more. All Cards. Emirates Credit Card. A purchase protection plan typically offers coverage against theft or accidental damage.
Coverage varies between providers. Earn Benefits while you Spend : Making purchases with a credit card can allow you to rake in rewards such as cashback, reward points, and air miles.
Good for your Credit Score : Using the credit card in a responsible manner can help build your healthy credit score, which is then used to determine your application eligibility for other financial products and services. Expensive cash advance : Cash advancement on a credit card is often for an emergency and should be treated as one.
Can be bad for your credit score : It is only bad if you are unable to manage your credit card repayments responsibly, such as missing out on payments or not paying the full amount due. Fraud and Scams : A credit card is susceptible to fraud and scams, even with safety and security features to protect your account and the card. It is very important that you do not simply divulge your credit card information to anyone.
Credit Card Charges and Fees A credit card has several different types of fees and charges. Some of these depends on what you use the credit card for and some may be just be a general fee. Here are some of the most common fees and charges. Fees and charges associated with the use of a credit card Fees Description Annual fee The credit card annual fee is a fee that is charged yearly for the privilege of owning a credit card. Not all credit cards have an annual fee, however. Some cards may also waive the fee depending on how much you spend.
Late fee A fee is charged when you miss out on a monthly repayment; this fee is either a flat rate or a percentage on the totally repayment, whichever is higher. What are interest rates and how is it calculated? Interest is a charge applied by banks for lending you money. It is calculated as a percentage of your outstanding balance. The better your credit score, the lower your interest rate.
A healthy credit score demonstrates that you are in a healthy financial position and it is less risky for the bank to approve your application, therefore charging you a lower interest rate.
It is very important to understand what you want a credit card for. There are many different credit cards out there that have different benefits and features that may fit different lifestyles.
You can use a credit card comparison tool like our very own to help you out. Just fill in the required details and the tool can automatically draw up the suggested credit cards for your needs. Make sure you read all the little details about the card such as the charges and fees, benefits, interest rates, and most importantly, if you meet the minimum requirements.
Check your Credit Score Your credit score is what banks will mostly use to determine if you can get a card. If you have a healthy credit score, then you should be easily approved for a credit card. An online application is generally much faster and more convenient. For every amount you spend, a percentage of that will be returned to you, either on a monthly or quarterly basis.
There is also usually a maximum cap amount which varies between banks. Rewards Reward credit cards let you earn rewards points for every ringgit you spend. Some bank-partnered merchants may even offer 2x to 5x the amount of points when you shop with them, and some may give you higher points if you shop during the weekends too.
The points can then be redeemed for gifts or shopping vouchers with the bank. Petrol Petrol credit cards give you petrol benefits with the partnered petrol companies. You can earn rebates and cashback when purchasing fuel and even get discounts.
Air Miles For the frequent flyers, an air miles credit card earn the cardholder air miles when they purchase tickets with the travel credit card. These air miles points can then be converted into flight tickets.
These travel cards may also give discounts, special flight packages, and even travel insurance. Premium Premium credit cards come with a lot of premium services such as a personalized concierge service, along with dining and lounge privileges. However, these credit cards are typically very expensive and have high income requirements. Miscellaneous or Specialty cards These are credit cards that partner with certain brands and shops, such as getting special ticket promotions at GSC or at TGV, and getting more in-store points with certain anchor tenants.
Keep in mind that most credit cards today have a combination of several types, usually rewards and cashback. What are the best credit cards to get? By now, you must be asking "what is the best credit card for me? Read our article to find out the best credit cards in Malaysia. Can I apply for more than one credit card? Depending on your credit score, you may be able to hold multiple credit cards. However, the number of credit cards you have and your repayment behaviour will affect your credit score.
In , Bank Negara Malaysia introduced a guideline stating that anyone with an annual income of RM36, or less can hold credit cards from a maximum of two issuers. Focus on choosing one or two credit cards which suit you and your requirements best.
Eventually, if you prove your good repayment behaviour, you will be offered a higher credit limit. Do I have to pay interest on my credit card? As long as you pay your credit card in full and on the date in your credit card statement, you do not have to pay interest on your credit card.
Do I qualify for a credit card? In order to be eligible for a credit card in Malaysia, you need to be at least 21 years old and financially stable. Each credit card issuer has its own minimum annual income requirement. In most cases, a minimum annual income of RM24, is required, but this could vary from bank to bank.
You don't need to have an existing account with a bank to apply for a credit card from them. Remember to always research the best credit cards before applying! How do banks decide my credit limit? If you're earning an annual income of RM36, or less, the maximum limit extended to you will not exceed twice your monthly income for every credit card issuer.
This guideline does not apply if you are earning more than RM36, per annum, so you should consult your credit card issuer in Malaysia to find out how much your credit limit will be.
Your credit limit can also be raised if you show good repayment behaviour. You can talk to your credit card issuer about raising your credit limit. How do I increase my credit limit? You can call the bank to ask for a review in your application. However, approval for an increase in credit limit is usually determined on your credit score.
By being prompt in paying your monthly bills, the bank might increase your credit limit. How do I know which credit card is best for me? Choose a credit card that complements your lifestyle. Cashback cards help you save on groceries, petrol, and dining. Air miles cards let you earn miles for every RM1 you spend, which you can redeem for free tickets.
Rewards cards let you earn points for every RM1 you spend, which you can redeem for vouchers. By using our comparison tools, you can quickly see which credit card has benefits that are most useful to you. Make sure to compare annual fees and effective interest rates so you know what extra charges apply. How do I pay my credit card bill?
Credit card issuers provide various methods of payment, from online banking, paying through telephone or mail, or visiting a branch of the bank to settle the balance. The most convenient method is to create a bank account and have credit card balances deducted automatically every month. How long will my credit card application take?
The processing time varies depending on the card issuer, but as soon as your application has been approved, it normally takes 7 to 10 working days until you receive your card.
Make sure that you submit all the relevant documents so that your application can be processed as quickly as possible. What if I notice something suspicious on my credit card activity? If you suspect an unauthorised transaction has been made on your account, check if you made any other purchases on the same day before contacting your bank.
The item could have been mistakenly billed under a different name. Also, ask anyone who uses the card with your permission such as your partner if they made the purchase.
Once you have confirmed that the transaction was unauthorised, contact your credit card issuer immediately. Failure to do so could make you liable for the unauthorised transactions charged to your credit card. Mon - Fri am - pm Call: Best Deals Credit Cards.
Our most popular credit cards for their exceptional rewards and features, be it the best cash back rates, the most reward points, or one that lets you earn air miles blazingly fast, start your search here. Cash Back Credit Cards. Cashback credit cards convert every ringgit that you spend into lucrative cash rebates. AirMiles Credit Cards. AirMiles credit cards are designed to allow you to earn air miles every time you spend.
Rewards Credit Cards. Rewards credit cards allow you to collect and accumulate rewards points that can be traded for a range of benefits, such as vouchers and discounts.
No Annual Fee Credit Cards. No annual fee credit cards are exempt from being charged your usual annual fee, but be sure to read the fine print to see how long the offer is valid for and if there are any terms to this. Islamic Credit Cards. An islamic credit card is Shariah compliant, with prohibition of gharar overcharging and riba interest. Directly linked to your bank account current or savings You can only spend money you have in your account Money spent is directly deducted from your bank account.
Card Issuer. Institutions, such as banks and consumer finance companies, that issue credit cards. Organisations that set up the payment ecosystem and act as the middlemen between merchant acquirers and card issuers like Visa, MasterCard and American Express.
This guideline does online apply card you are earning application than Credit, per annum, malaysia you should application your credit card online in Malaysia card find out how much your credit malaysia will be. In fact, with everything considered, the higher your income, the better your chances for approval. Consolidate credit card outstanding balances from other banks for interest savings. Just fill in the requirement information and you'll find all the cards that suit your requirements within a matter of seconds. Balance Conversion. Please click the button below and drop us your details.