Bank Rakyat Platinum Credit Card-i
Earn Rakyat Reward Points on halal spend with 0% instalment plan and free Takaful coverage.
Eligibility
Minimum Monthly Income
RM 5,000 (RM 60,000 annually)
Min. Age
Cardholder: 21 years old
Supplementary Cardholder: 18 years old
Resident Status
Anybody
Documents required to apply
You will need to provide several documents such as (varies between different banks):
- A copy of your IC (both sides)
- Latest 3-6 months salary slip
- Latest EA statement
- Latest EPF statement
- Letter of Employment or employer confirmation
- Latest 1 year official tax receipt
- Latest 3 months bank statement
Fees & Charges
Profit Rate
13.5% - 18%
Annual Fee
RM 0
Free*
Annual Fee Waiver
Yes
Free for the first year and waived when you swipe at least once a year from the second year onwards
Late Payment Compensation
RM 50 or 5% of the outstanding amount, whichever is higher
Profit Rate
13.5%
Features
Spend with the Bank Rakyat Platinum Credit Card-i at Shariah-compliant merchants locally or overseas to earn 1 Rakyat Reward Point for every RM10 spent. Accumulated points can be converted to cash at 10 points per RM0.10.
Split large purchases into smaller monthly instalments at 0% interest through Bank Rakyat's Easy Payment Plan.
Transfer outstanding balances from other credit cards to this card and repay at a lower interest rate.
No overseas transaction fees and no compounding charges. The card comes with a lower tiered profit rate, free Group Family Takaful, and Khairat Kematian benefit that covers outstanding balances in the event of total permanent disability or death. Zakat payments are also accepted through the card.
Terms and Conditions
Product review by CompareHero
The Bank Rakyat Platinum Credit Card-i is a credit card that follows the Shariah Concept while offering various rewards and benefits for all your spendings locally or internationally. Since this credit card only can be used for Halal transactions, rest assured you’ll be using it for legal transactions.
Earn reward points offered from Bank Rakyat Platinum Credit Card-i
Every single month, we’re bound to spend on our daily expenses as well as monthly commitments. If you charge them all to your Bank Rakyat Credit Card-i Platinum, you’ll receive 1 Rakyat Reward point for each RM10 that you’ve spent.
With the Rakyat Rewards collected, you could also convert them into cash for times in need at a rate of RM0.10 per 10 Rakyat Points.
Note: The reward points only apply to Halal merchants only. Be sure to check before using the credit card whether they are a Halal merchant or not.
Receive Takaful Coverage with the Bank Rakyat Platinum Credit Card-i
When you’re faced with unforeseen circumstances, carrying the burden of paying your overdue credit card bills can be a hassle. Thankfully, the Bank Rakyat Platinum Credit Card-i offers free Family Takaful protection that includes coverage for travel, outstanding credit card balance as well as benevolence expenses for up to RM1,000.
Bank Rakyat Platinum Credit Card-i provides low rates
Sometimes when you’re travelling overseas, using credit cards to pay for your expenses could cost more than what you’re paying for due to the fees charged on currency exchange. If you make transactions overseas with your Bank Rakyat Platinum Credit Card-i, you won’t be charged with any additional fees.
Aside from that, the Bank Rakyat Platinum Credit Card-i also offers a low profit rate of as low as 13.5% under the Credit Card-i Tiered Pricing Structure.
Get your Bank Rakyat Platinum Credit Card-i annual fee waived
The annual fee for the first year is waived provided you’ve used the card at least once. However, that shouldn’t be a problem since you’ve bound to make a transaction with your Bank Rakyat Platinum Credit Card-i more than once.
The rest of the years after the first year, you will be charged with an annual fee of RM388 for principal cardholders and RM150 for supplementary cardholders. You could be exempted from the annual fee and get it waived with only one simple condition: use your Bank Rakyat Platinum Credit Card-i at least once a year.
Frequently Asked Questions (FAQ)
How do I apply for the Bank Rakyat Platinum Credit Card-i?
What are the Bank Rakyat Platinum Credit Card-i requirements?
Is there an annual fee for the Bank Rakyat Platinum Credit Card-i?
What are the fees or charges applied for the Bank Rakyat Platinum Credit Card-i?
What are the top benefits of the Bank Rakyat Platinum Credit Card-i?
• Gain 1x Rakyat Rewards Points for all purchases made based on each RM10 spent
• Follows the Shariah Concept while offering rewards for Halal merchants only
• Annual fee can be waived if used at least once a year
• Receive free Family Takaful coverage and Khairat Kematian (RM1,000)