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: Aug 25, 2019

Directory: Jump To

Cashback

Other Benefits

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 all categories including petrol (but excluding Utilities and Government Bodies) on weekends.
  • AmEx 5x Treats Points (~1.25% spending) on Petrol (Up to RM500 per calendar month) on weekdays.
  • AmEx 5x Treats Points (~1.25% spending) which you can change for vouchers etc  (no max limit) on weekdays.
  • AmEx 2x Treats Points (~0.5% spending) for Government Bodies, Education Institutions & Insurance Providers on weekdays.

Cons

  • AmEx not accepted at all retailers
  • AmEx Wave (pinless feature) only available at selected terminals (more common in Singapore)
  • Visa/MasterCard gives you only 1x Treats Points (~0.2% spending)
  • AmEx no longer gives Treats Points on weekends (effective Jun 2019)
  • Maybank cards no longer give Treats Point or cashback for e-wallet top ups (effective Jul 2019)
  • Cashback capped at RM50 per month

Details

Maybank FC Barcelona Visa Signature Credit Card

Pros

  • 2% cashback on all categories excluding Utilities and Government Bodies
  • 10% cashback instead in months of May (football season ends) and August (football season begins)
  • 10% discount on FCB official online
  • Visa Airport Speed Pass
  • Visa Signature Concierge Service
  • Up to RM500,000 Travel Insurance Coverage

Cons

  • Cashback capped at RM50 per month or RM2,500 qualified spending (RM100 or RM1,000 qualified spending for May and August)

Details

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

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

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

CIMB Cash Rebate Platinum MasterCard

Pros

  • 12% cashback on weekend dining (until May 31, 2020)
  • 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

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

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

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 (reduced to RM60 w.e.f. Jul 1, 2019)
  • Online transactions cashback capped at RM30
  • Only 0.2% cashback on all other spending
  • Tiered cashback whereby to maximize cashback you need to spend on qualified transactions RM2,500 monthly
  • No annual fee waiver (previously on spending RM20,000 annually)

Details

 

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

 

Best Credit Cards for Other Benefits

Air Miles: Maybank 2 Cards Premier Reserve Credit Card

maybank2cards-reserve-amex

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

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

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

Plaza Premium Lounge: AEON BiG Visa Gold Credit Card

aeon_big_gold

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

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

 

More Info

 

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FAQ

Q: Are there any fees for a credit card application?
A: There are not credit card application. Do note however there is a mandatory government service tax of RM25 per credit card. Some cards may also have annual fees.

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.

 

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Any great Credit Cards to recommend? Any changes to any of the credit cards listed above for us to update?