Looking for a credit card? A simple shortlist of the best credit cards in Malaysia by categories for cashback, air miles, balance transfer, insurance, and airport lounge access.
Updated: Oct 31, 2018
Best Cashback Credit Cards
Maybankard 2 Gold/Platinum Credit Card
Pros
- 2 cards AmEx & a Visa/MasterCard (at a single Government Tax of RM50).
- AmEx 5% cashback on along categories including petrol on weekends.
- AmEx 5x Treats Points (~1.25% spending) on Petrol (Up to RM500 per calendar month)
- AmEx 5x Treats Points (~1.25% spending) which you can change for vouchers etc (no max limit)
- AmEx 2x Treats Points (~0.5% spending) for Government Bodies, Education Institutions & Insurance Providers
Cons
- AmEx not accepted at all retailers
- Visa/MasterCard gives you only 1x Treats Points (~0.2% spending)
- Cashback capped at RM50 per month
Details
- Annual fee: Lifetime fee waiver
- Minimum annual income: RM30,000 (RM60,000 for Platinum)
- Platinum gives you extra travel insurance coverage & retail protection
- More info on Maybank 2 Card (Gold)
- More info on Maybank 2 Card (Platinum)
HSBC Amanah MPower Visa Platinum Credit Card-i
Pros
- 8% cashback on Groceries & Petrol min spending above RM2,000 (else 2% cashback)
- 0.2% cashback unlimited on other spending
Cons
- Cashback capped at RM50 per month
- Annual fee
Details
- Annual fee: RM255
- Minimum annual income: RM36,000
- More info on HSBC Amanah MPower Visa Platinum Credit Card-i
Public Bank Visa Signature Credit Card
Pros
- 6% Cash Back on Grocery, Dining and Online Transaction
- 1 VIP Point for every RM1 spend on other retail transactions
- 2x complimentary access to any Malaysia Plaza Premium Lounge (25% off for subsequent)
- Free Automatic Travel Insurance
Cons
- Cashback capped at RM50 per month (separate limits for primary and supplementary card)
- Comparatively higher minimum annual income required to apply
Details
- Annual fee: First year waiver and subsequent years min 12x swipes (else RM411)
- Minimum annual income: RM100,000
- More info on PB Visa Signature
Public Bank Quantum Visa/MasterCard
Pros
- 5% cashback on dining and online transactions
- 2x VIP Points for overseas retail spending
- 1x VIP Points for local retail spending
- 0% 12 months IPP with min purchase RM1,200
- e-Commerce Purchase Protection up to USD200 for incomplete/wrong/undelivered/damaged purchases (Mastercard only)
Cons
- Cashback capped at RM30 per month (RM360 per year)
- VIP points expire after 3 years
Details
- Annual fee: Lifetime fee waiver
- Minimum annual income: RM36,000
- More info on Public Bank Quantum Visa/MasterCard
CIMB Cash Rebate Platinum MasterCard
Pros
- 5% cashback on online spending (except airlines, insurance)
- 2% cash rebate on groceries and petrol
- 2% cash rebate on mobile & utility bill payments (via standing instructions)
- 0.2% unlimited Cash Rebate on other retail spend
- 10% cash rebate on monthly interest paid (on outstanding balance charges)
Cons
- Cashback capped at RM30 per month (RM360 per year) for online spending
Details
- Annual fee: Lifetime fee waiver
- Minimum annual income: RM24,000
- More info on CIMB Cash Rebate Platinum MasterCard
OCBC World MasterCard
Pros
- 1.2% cashback on first RM1,000 monthly spending
- 0.6% cashback on subsequent spending
- Unlimited cashback limit at 0.6%
- Complimentary travel insurance when you purchase airline tickets
- 2X free access per calendar year to the KLIA Plaza Premium Lounge
- No annual fee for the first 3 years
Cons
- RM411 per annum annual fee (after first 3 years)
Details
- Minimum annual income: RM100,000
- More info on OCBC World MasterCard
Hong Leong WISE Credit Card
Pros
- 10% cashback (capped at RM100 per month) on 3 selected categories (mobile + 2 others)
Cons
- Need to select 2 out of 9 remaining categories (Pharmacies, Groceries, Petrol, Dining, Departmental, Book Stores, Utilities, Entertainment, Travel)
- Min monthly spending RM2000 (effective Oct 1, 2016) dropping effective maximum cashback to <5% (Previously 10 transactions above RM50)
- Annual fee of RM300 (or requesting HLB to waive)
Details
- Annual fee: RM300
- Minimum annual income: RM60,000
- More info on Hong Leong WISE Credit Card
UOB One Credit Card
Pros
- 1% weekday / 5% weekend cashback on Petrol up to RM300 spending (Platinum RM500)
- 2% weekday / 8% weekend movies @ GSC
- 1% weekday / 2% weekend cashback on Groceries (Tesco, Aeon Big, Giant, Cold Storage, Jaya Grocer) up to RM1k spending (Platinum RM1.5k)
- 1% weekday / 2% weekend cashback on Telcos (Maxis, Digi, Celcom) up to RM200 spending (Platinum RM300)
Cons
- Only 0.2% cashback on other merchants
- Government transactions & utilities bills excluded from cashback
- Lower cashback cap for classic card VS platinum card
- Smart Cash rebates removed effective July 1, 2017
Details
- Annual fee waiver (Classic): Swipe min 60 times
- Annual fee waiver (Platinum): Swipe minimum 1x per month AND spend RM36,000/RM60,000
- Minimum annual income: RM24,000 (RM60,000 for Platinum)
- More info on UOB ONE Card
Standard Chartered JustOne Platinum MasterCard
Pros
- Cashback on auto bill payments (insurance, telco and utilities), online purchases, and petrol
- Below RM1,000: 0.2% (max effective cashback: 0.2%)
- RM1,000 – RM1,499: 5% (max effective cashback: 1.2%)
- RM1,500 – RM2,499: 10% (max effective cashback: 1.8%)
- RM2500 and above: 15% (max effective cashback: 3.4%)
Cons
- Cashback capped monthly
- Below RM1,500: RM12
- RM1,500 – RM2,499: RM28
- RM2500 and above: RM85
- Only 0.2% cashback on all other spending
- Tiered cashback whereby to maximize cashback you need to spend on qualified transactions RM2,500 monthly
- Annual fee waiver only on spending RM20,000 annually
Details
- Annual fee: RM250 (waived 1st year; waived 2nd year onwards with RM20,000 annual spending)
- Minimum annual income: RM24,000
- More info on Standard Chartered JustOne Platinum MasterCard
- Read full review
OCBC Cashflo MasterCard
Pros
- 0.5% unlimited cashback
- Auto-IPP on all purchases
- Retail transactions RM500-RM1,000: 3 months IPP
- Retail transactions above RM1,000: 6 months IPP
- Great Eastern (Life & General) Insurance premium RM2,2000 above: 12 months
Cons
- Cashback only at 0.5%
- Useful only if you need the auto IPP services
- Annual fee waiver only for first 3 years
Details
- Annual fee waiver: First 3 years
- Annual fee: RM188 principle / RM68 supplementary
- Minimum annual income: RM24,000
- More info on OCBC Cashflo MasterCard
Best Credit Cards for Other Benefits
Air Miles: Maybank 2 Cards Premier Reserve Credit Card
Pros
- Highest spending to AirMiles conversion rate 4,500 points for 1000 Enrich / KrisFlyer miles (4,770 for most other Maybank cards)
- Overseas spending at 5x Treats Points
- Local spending up to 5x Treats Points
- Plaza Premium Lounges access 5x a year
- Golfing privileges including international complimentary green fees.
- Accidental death & disability coverage & travel inconvenience
- (Read above Maybank 2 Cards for more info)
Cons
- (Read above Maybank 2 Cards for more info)
Details
- Annual Fee: RM800 (from 2nd year)
- Annual Fee Waiver: RM80,000 spending
- Min Annual Income: RM180,000
- More info on Maybank 2 Cards Premier
Insurance Coverage: OCBC GE (Great Eastern) MasterCard Credit Card
Note: Previous 1% cashback has been replaced w.e.f. Sep 1, 2016
Pros
- RM100,000 life insurance & total permanent disability benefit
- For Great Eastern Card, 0% interest Auto-IPP (installment payment plan) for Great Eastern insurance premiums of RM2,200 & above
- Live Great Privileges (Participating merchants discount/benefits program)
Cons
- 2nd year onwards requires RM10k spending (can be achieved somewhat easily if you’re paying for your insurance policies with the card)
- For primary cardholder only
Details
- Annual fee: Lifetime fee waiver
- Minimum annual income: RM24,000
- More info on OCBC Great Eastern MasterCard
Travel & Plaza Premium Lounge: Citi PremierMiles Visa
Pros
- Unlimited access to selected international Plaza Premium Airport Lounges in Malaysia, Singapore, Hong Kong, and England with international flight
- Conversion rate 1500 PremierMiles to 1000 Air Miles
- 1x PremierMile for every RM1 local spending
- 2x PremierMiles for every RM3 spending in foreign currency
- Travel insurance
- Limo transfer service from KLIA with 3x overseas spending per trip
- 10k bonus PremierMiles on paying annual fee
Cons
- Annual fee charges
- Higher min annual income requirement
Details
- Annual fee: RM636 (or 30k PremierMiles)
- Minimum annual income: RM100,000
- More info on Citi PremierMiles Visa Credit Card
Plaza Premium Lounge: AEON BiG Visa Gold Credit Card
Pros
- 6x entry to Malaysian Plaza Premium Lounges (Gold only; Not applicable for Classic) + 20% discount for guests
- 2% cashback for online (excluding Insurance, Utility & Mobile Bill Payments) & overseas purchases (capped at RM25)
- 5% cashback petrol every Sunday
- AEON BiG Members Day 5% cashback (every 28th)
- AEON BiG Visa payWave 5% cashback
- 0% balance transfer for 6 months
Cons
- Cashback is capped at monthly total cash rebate pool
- Online & Overseas: RM15k
- AEON BiG Members Day: RM50k
- AEON BiG Visa payWave: RM15k
Details
- Annual fee: RM95 (waived with 12 transactions per year)
- Minimum annual income: RM36,000
- More info on AEON BiG Visa Gold Card
Balance Carrying/Cash Advance: Citi Simplicity +
Pros
- 10% cash back on finance charges
- No over limit fees
- No late payment charge
- No annual fee
- Awesome card name 😉
Cons
- Cashback is only for finance charges thus no cashback if you pay off your credit card in full every month (which we would generally advise you to)
Details
- Finance charges: 15-18%
- Cash advance: 5.3% (18% interest)
- Balance transfer: 8.99%
- More info on Citibank Simplicity + Card
More Info
Apply for a Credit Card
FAQ
Q: How long will it take to receive my credit card?
A: Usually within 2 weeks from successful application.
Q: Will I receive any free gifts/rewards for applying for a credit card?
A: Yes, you will receive any free gifts/rewards that are applicable for applying.
Share and discuss
Any great Credit Cards to recommend? Any changes to any of the credit cards listed above for us to update?