MoneyLink: Malaysia Credit Cards

Malaysia credit cards come with a low interest rate of 13.5% for tier 1 cardholders. The interest rate was dropped from 15% by the Association of Banks in Malaysia (ABM) on March 31, 2009.

Credit Cards Malaysia: Types

Malaysia credit cards are available in three categories to cater to the diverse needs of different income groups. The three categories are:

Classic Card: For people with regular incomes or low credit ratings

Gold Card: For people with good income levels or strong credit ratings. Gold cards provide sufficient travel accident/inconvenience cover and offer a wide range of reward programs.

Platinum Card: Meant for the affluent and usually offered by special invitation only. Platinum cards come with concierge services and exclusive offers with airlines, premiere hotels and restaurants.

A wide range of Malaysia credit cards are available with special features and benefits, including:

Co-branded credit cards: Offered by credit card issuers in partnership with various retail brands and service providers. They come with special discounts and exclusive offers on products of the partnering brand.

Reward credit cards: Offer "reward" in the form of cash backs, points or shopping rewards on purchases and payments. They also include rewards in the form of airline miles.

Low APR and Balance Transfer credit cards: Come with 0% APR (or low APR) and low rates on balance transfer.

Business Credit Cards: Personalized with the company name, these cards provide access to an extensive network of seminars and business events. Business credit cards generally come with the option of supplementary cards for employees, to cater to their business travel expenses.

Islamic credit cards: Card transactions are administered on the basis of Islamic banking principles (the concept of Shariah). These cards come with the option of direct zakat payment facility.

Student credit cards: Meant for high school and college students, with low credit limits and less incentive, to monitor and check their spending.
Malaysia Credit Cards: Issuers

Malaysia Credit Cards are issued by over 15 banks. Some of the popular issuers of credit cards Malaysia include Affin Bank, AEON, Alliance Bank, Bank Islam, HSBC, Maybank, Standard Chartered and Bank Simpanan National. These cards are offered in association with American Express, Visa or MasterCard.

In order to make an informed decision while applying for Malaysia credit cards, visit the official websites of the card issuers. These contain special features, minimum income requirements and other terms and conditions of the cards. A number of sites also facilitate comparison of cards of different issuers.
Aeon Credit Card Malaysia
Affin Bank Credit Card Malaysia
Alliance Bank Credit Card Malaysia
American Express Credit Card Malaysia
Bank Islam Credit Card Malaysia
Bank Simpanan National Credit Card Malaysia
Citibank Credit Card Malaysia
Eon Bank Credit Card Malaysia
Hong Leong Credit Card Malaysia
HSBCCredit Card Malaysia
Mastercard Malaysia (Mastercard Credit Card Malaysia)
Maybank Credit Card Malaysia
Public Bank Credit Card Malaysia
RHB Bank Credit Card Malaysia
Standard Chartered Bank Credit Card Malaysia
United Overseas Bank Malaysia (UOB Credit Card Malaysia)
Visa Credit Card Malaysia