Top 5 Credit Cards with No Annual Fees (2024)

What is the annual fee for credit cards? Simply put, credit card providers charge you an administrative maintenance fees yearly. 

This is known as the card's annual fees and is one of the most basic types of credit card charges you'll find. They can range from RM100 per annum to over RM500 for higher income cards. 

This fee is normally charged to you in the same month that you sign up and get approved for the card. It is repeated every 12 months after that, often added to your credit card bill.

Fortunately, there are many credit cards with no annual fees available. Providers can offer both evergreen zero annual fee cards, as well as limited time waivers on selected cards.

Zero annual fee credit cards still offer plenty of perks and benefits, contrary to popular belief. Here are the best zero annual fee credit cards, with additional attractive features for your needs:

#1: Alliance Bank Visa Virtual

The Alliance Bank Visa Virtual is Malaysia's first virtual credit card that functions within the allianceonline app.  It offers enhanced security as it masks your credit card number with a 16-digit temporary number. 

This 16-digit number is generated at random, and changes every 30 minutes. With this feature, it will be difficult for fraudsters to steal and use your card as only you have access to the temporary card number. 

The virtual credit card also offers other benefits:

• 8X Timeless Bonus Points for online and e-wallet spend
• 1X Timeless Bonus Points for all other spend
• Timeless Bonus Points never expire
• Minimum monthly income RM2,000
• ZERO annual fees for life

#2: Maybank 2 Gold Card

Next on our list is the Maybank 2 Gold Card. Upon approval of your card application, you will receive two credit cards: American Express and MasterCard or Visa, hence the name. 

Two credit cards at the same time…? 

Why not? As long as you know how to manage your finance! Maybank also offers different rewards and perks for each card including:

• 5X TreatsPoints for American Express (Weekday) spend
• 1X TreatsPoints for Mastercard & Visa spend
• Up to 5% cashback on American Express (Weekend) spend
• Lifetime annual fee waiver for principal and supplementary cards
• Minimum monthly income RM2,500

Related: Should You Have More Than One Credit Card?

#3 CIMB Travel Platinum

Here's a card that's perfect for frequent travellers. The CIMB Travel Platinum credit card offers plenty of benefits and savings if you travel overseas and fly more than a few times each year. 

Among the features you can look forward to include exclusive access to Plaza Premium lounge, points for overseas spend and travel insurance coverage. The ZERO annual fees is merely the cherry on top of an already delicious cake!

Here are the main benefits of the CIMB Travel Platinum:

#4 Alliance Bank Visa Platinum Credit Card

The Alliance Bank Visa Platinum Credit Card actually has an annual fee of RM120.However, upon your application approval, the first year annual fees will be waived.

To skip the annual fee in the subsequent years, all you have to do is swipe the card 12X in one year. Doable, don’t you think?

The card is also suitable for those who wish to manage their credit card bills better or want to settle outstanding debts. There is 0% interest balance transfer that will assist you in consolidating your credit card debts and improve your credit scores. 

Card features and benefits:

• 0% balance transfer for 6 months for new-to-bank cardmembers
• 8X timeless bonus points for online and eWallet spend
• 3X timeless bonus points for overseas and dining spend
• 1X timeless bonus points for contactless, entertainment, auto-billing and retail spend
• Minimum monthly income RM2,000

#5 CIMB Cash Rebate Platinum

Here's a credit card that offers pretty good cashback rates for everyday spend. If you want to save on things like groceries, petrol and selected bills, this is the card for you. 

It's also a good card if you're a young adult working in the city and want to try owning a credit card for the first time. The CIMB Cash Rebate Platinum is a fuss-free card that rewards you without needing you to jump through too many hoops. 

Here are the card's most attractive features:

Not having to pay any annual fees is a great feature to have especially if this is your first credit card.

There are plenty of credit cards with amazing features and benefits for you to choose from. The best way to see all our zero annual fee credit cards is to use our credit card comparison tool to your benefit. 

In addition to these cards that waive annual fees, there are also other credit cards that offer conditional fee waivers. Those are equally beneficial if you're able to meet their requirements, such as swiping your card XX times a year or spending a minimum amount per year.  Contact us today and let us help you find the best credit card that fits your lifestyle!