Compare Islamic Credit Cards - Online Application

  • An Islamic credit card is firstly, Syariah-compliant. The main differences between Islamic credit cards and conventional credit cards are the prohibition of gharar and riba. Gharar is overcharging, while riba is interest. There are no compound charges as overcharging is also prohibited under Syariah law. 
  • Secondly, Islamic credit cards do not charge interest. Any interest or riba is strictly prohibited under the Syariah law. Therefore, what Islamic banks do is provide Islamic credit cards by charging for their service, which is known as the “profit charge”, and only charged if there is an outstanding amount that is not paid within the grace period. 
  • Thirdly, an Islamic credit card offers Takaful coverage. Aside from that, Muslims will also have the added convenience of paying being able to pay their Zakat with an Islamic credit card.
  • An Islamic credit card, also known as credit card-i in Malaysia offers a viable option for Muslims to have the convenience of a credit card while keeping true to their faith. 
  • It’s also an alternative option for non-Muslims as you don’t necessarily have to be Muslim to have an Islamic credit card. 
  • For non-Muslims who prefer the concept of Islamic banking, an Islamic credit card would give them an option aside from the conventional credit card. 
  • An Islamic credit card functions similarly to a conventional credit card but with some slight differences in the offered features.
  • Islamic credit cards can be enjoyed by both Muslims and non-Muslims. 
  • In fact, many non-Muslims now use these cards to take advantage of their unique features and fantastic deals.
  • Use our free comparison tool to find the best Islamic credit card to suit your needs.
  • We compare credit cards across all trusted providers in Malaysia. Once you found a card that you wish to apply for, click the ‘Continue’ button.
  • If we currently do not have a deal with that bank, you may apply directly through the bank’s website or walk into any one of their branches.
  • Syariah-compliant banking is governed by Islamic principles which includes being interest-free.
  • Making money from money, such as by charging interest, is prohibited (usury) and therefore Syariah-compliant banking will not have this.
  • Wealth will be made through legitimate trade and investment in commodities or assets, however companies involved with alcohol, gambling, tobacco, and pronography is off limits.
  • Financial tools and financing that are structured in accordance to Islamic law are Syariah compliant.
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 2011, Bank Negara Malaysia introduced a guideline stating that anyone with an annual income of RM36,000 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.
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.
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!
If you're earning an annual income of RM36,000 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 RM36,000 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.
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.
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.
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.
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.
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.