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 RM24,000 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!
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.
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. Credit card issuers provide 24/7 customer service to address these matters, so do not hesitate to take immediate action. Failure to do so could make you liable for the unauthorised transactions charged to your credit card.
The minimum payment is a sum that you will have to pay each month in order to avoid getting a bad credit score. It is calculated according to your outstanding balance, and will appear in your monthly statement. Other factors that will affect your minimum payment are unpaid balances or any balances that exceed your credit limit.
If you pay the minimum amount on your monthly bill, there will still be interest charged to any unpaid amount. This will be carried on to your next statement. However, if you fail to pay the minimum fee, a late payment fee will be charged to you, on top of the interest on the outstanding balance.
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