Best Zero Annual Fee Credit Cards & Other Benefits

Fatin Haris

Fatin Haris

Last updated 17 October, 2022

A credit card has a few fees that you need to be aware of such as interest charges, late payment fees, foreign transaction fees, and annual fees. The annual fee is the amount you need to pay to use your credit card and normally charge to you in the same month that you sign up for the card and every 12 months after that. Some may think that credit cards with an annual fee offer more perks and benefits, but that is not always the case. Here are the best zero annual fee credit cards and other benefits for you to consider when choosing a credit card.

Zero Annual Fee Credit Card #1: Citi Simplicity+ Card

Are you planning to get your first credit card? We would suggest you consider Citi Simplicity+ Card. You don’t have to worry about paying the annual fee as it has the following features: 

  • Zero annual fee
  • Zero over-limit fee
  • Citi PayLite is a feature to convert your retail transactions into monthly installments
  • Citi FlexiBill which gives you the option to turn statements into small payments

Other benefits:

  • Up to 45% off when you dine in at selected restaurants and cafes
  • Up to 30% savings on your retail purchases
  • Learn more about the card benefits, here

Minimum monthly income to apply for this credit card: RM2,000

Apply for Citi Simplicity+ Card today and don’t miss your chance to win exciting prizes!

Zero Annual Fee Credit Card #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: 

  • Zero annual fee
  • 5X TreatsPoints for American Express (Weekday) spend
  • 1X TreatsPoints for Mastercard & Visa spend
  • Up to 5% cashback on American Express (Weekend) spend

Other benefits:

  • Two cards with one sign-up and one statement: Maybank 2 Gold American Express Card and Maybank 2 Gold Mastercard / Visa Card
  • Lifetime annual fee waiver for principal and supplementary cards

Minimum monthly income to apply for this credit card: RM2,500

If you sign up now till 31 December 2022, you stand a chance to WIN RM500 cashback. More details, here.

Related: Should You Have More Than One Credit Card?

Zero Annual Fee Credit Card #3: Motorcycle Association Affinity Gold Visa Card 

Are you a member of the Malaysia Motorcycles and Scooter Dealers Association? If yes, then you can proceed to apply for the Motorcycle Association Affinity Gold Visa Card. Among the features of this card are: 

  • Suitable for Motorcycle Insurance Premium spend
  • Suitable for Motorcycle Insurance Premium spend
  • ZERO annual fee
  • 1.1% cashback available

Other benefits: 

  • Travel insurance coverage of up to RM200,000
  • 0% balance transfer for 6 months
  • Flexible payment options

Minimum monthly income to apply for this credit card: RM3,000

The following cards annual fees are waived for a certain period and you have to meet the requirements that each bank set for their cards. Let’s go through the list:

CIMB e Credit Card

This card’s annual fee is RM100 and it will be waived until 2025. After 2025, the fee will be charged to the principal card from subsequent years. However, the annual fee will be waived if your total annual retail spend from both principal and supplementary cards is RM12,000. 

Card features and benefits:

  • Earn 10x Bonus Point rewards on eDay with non-featured partners
  • 12X Bonus Points on online, eWallet, auto-billing & contactless spend (eDAY)
  • 3X Bonus Points on online, eWallet, auto-billing & contactless spend
  • 1X Bonus Points on other spend
  • Daily 5x Bonus Points rewards on online transactions 
  • Pay With Points at more than 9,000 outlets across Malaysia

Minimum monthly income to apply for this credit card: RM2,000

Alliance Bank Visa Platinum Credit Card

You need to pay RM120 per year to use the Alliance Bank Visa Platinum Credit Card. Upon approval of the card, the fee will be waived for the first year. 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 so?

Card features and benefits:

  • 0% balance transfer for 6 months for new-to-bank cardmembers
  • 0% Balance Transfer for 12 months exclusively for new-to-bank cardmembers applying via CompareHero.my. Apply here.
  • 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
Apply for this card now to enjoy a guaranteed JBL Wave 200TWS worth RM289 or Realme Buds Q2s worth RM139 when you successfully activate, spend and sign up for Balance Transfer with Alliance Bank Credit Card.

Minimum monthly income to apply for this credit card: RM2,000

Standard Chartered Smart Credit Card

If you’re looking for a cashback card, Standard Chartered Smart Credit Card should be on your list. Equipped with features only a true shopaholic would appreciate, the annual fee of RM120 is waived for the first year. Subsequent years will be waived with a minimum spend of RM12,000 per year. 

Card features and benefits:

  • 0% Buy Now, Pay Later over 3 months
  • Zero cash advance fees
  • Up to 15% Cashback on Favourite Merchants spend (Boost, FavePay, GrabPay, Lazada, Shopee, TaoBao, Touch ‘n’ Go e-wallet & Zalora)
  • Up to 6% Cashback on Digital Lifestyle spend (Astro, Joox, iQIYI, Netflix, Playstation, Spotify & Steam)

Minimum monthly income to apply for this credit card: RM3,000

The table below shows credit cards with zero annual fees and the ones that are waived for a certain period with T&C apply. 

Credit Card

Duration of annual fee waiver

Citi Simplicity+ Card

Free for life

Maybank 2 Gold Card

Free for life

Motorcycle Association Affinity Gold Visa Card 

Free for life

CIMB e Credit Card

RM100 (annual fee waiver until 31 December 2025 and for subsequent years, the fee will be waived with total annual retail spend from both principal and supplemental cards of RM12,000)

Alliance Bank Visa Platinum Credit Card 

RM120 (annual Fee waived in first year, subsequent years waived with 12X swipe per year)

Standard Chartered Smart Credit Card

RM 120 (annual fee waived in first year, subsequent years waived with minimum spend of RM12,000)

 

No annual fee 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. However, if a credit card with an annual fee suits your lifestyle, we would recommend you opt for that as most credit cards still offer to waive the annual fee provided you meet the requirement to do so.