Credit cards offer a sense of financial security and all sorts of customer incentives, such as cashback, bonus points, and one-time sign-up rewards. However, some require annual payments, which can be a hassle. The costs add up, and interest is applied to the amount if you don’t pay off the balance each month.
So, the right solution is to pick an annual fee credit card in Malaysia and reap endless financial benefits. Read below as we discuss 11 of the best credit cards you can use with no annual fee in 2024.
Best Credit Card in Malaysia With No Annual Fee
1. Alliance Bank Visa Virtual Credit Card
Alliance Bank Visa Virtual is the best credit card Malaysia due to its smooth transaction facility, increased safety features, and zero annual fee.
But remember that you still have to pay RM25 Sales Service Tax every year on your Primary Alliance Virtual Credit Card. Paying this SST is mandatory, no matter the number of virtual cards you sign up for.
You need specific documents that vary based on your employment status to sign up.
For instance, self-employed people will need a trading license, B-form, and bank statements. On the other hand, the wage earners require a CNIC copy, EPF statement, and salary slips of up to 3 months.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
2,000 |
Specifications
- 15% p.a. interest rate to settle late payment
- 8X bonus points for spending online
- 1X bonus points for in-store spend
- Unlimited bonus points that don’t expire
- 5% (RM15) cash withdrawal fee
2. Maybank Shopee Visa Platinum
Using the Maybank Shopee Visa Platinum credit card, customers can spend up to five times as much on food, entertainment, and contactless transactions. Besides, you can get an added benefit of 5,000 free Shopee Coins after spending a minimum of RM 300.
But why is it the best credit card Malaysia? It is free for life and does not have an annual fee.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
2,000 |
Specifications
- 15% p.a. interest rate to settle late payment
- Five times more Shopee coins on selected days
- Four times more Shopee coins on food, entertainment, and virtual payments
- 5,000 free Shopee coins when you activate the card
3. BSN Classic Visa Credit Card
BSN Classic Visa Credit Card is the no-annual fee credit card in Malaysia, and you can use it at over 1 million ATMs and over 29 million businesses across the globe.
They are hassle-free options that eliminate the need to carry cash. It is advisable to choose the BSN credit card that best meets your requirements and submit your application online for instant approval.
Another reason the BSN is the best credit card Malaysia is that you will instantly be eligible for up to RM300,000 in free travel insurance.
It allows you to travel worry-free by charging your entire trip cost to the BSN Platinum Visa Credit Card i. Other benefits, such as RM2,000 and RM600 for delayed luggage or skipped flights, are also covered.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
2,000 |
Specifications
- 13.5% p.a. interest rate for private employees
- 13.5% p.a. interest rate for government employees
- 1X bonus points for spending RM1
- Up to RM3,00,000 travel insurance
4. Citi Rewards Mastercard
Citi Rewards Mastercard is another good option if you are searching for a no-annual-fee credit card Malaysia.
It lets you earn 12 times the number of Citi Rewards Points with the Citi Rewards Mastercard for each RM1 you spend on specific e-wallet top-ups and online purchases, to a monthly RM300 per card limit.
For every RM1 you spend in Malaysia and abroad, you will receive five times as many Citi Rewards points. All these features help save your finances and provide maximum security, making Citi Rewards Mastercard the best credit card Malaysia.
Annual Fee
- No annual fee (RM0 for the first three years)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
RM 5000 |
Specifications
- 15% p.a. interest rate to settle late payment
- No annual fee credit card Malaysia costing RM600 after 3 years
- Up to RM50,000 travel insurance
- 12 bonus points for spending RM1 on e-wallet top-ups and selected online stores
- Five bonus points each for spending overseas and in selected local markets
- Six free visits to KLIA Plaza Premium Lounges
5. BSN Gold Visa Credit Card
Another no annual fee credit card Malaysia, the BSN Gold Visa, is suitable for people who would rather receive incentives for every transaction than money. Regular travellers will also find it helpful because overseas transactions give you added reward points.
There is no annual fee for the principal and supplementary credit cards on the BSN Visa Gold.
That means there won’t be any conditions to avoid paying the annual charges because they are waived for life. However, you will be required to pay 1% (around 10RM) of the total amount in case of late payments.
Also, you have to pay a cash advance fee of up to five per cent of the entire cash advance amount.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
RM3,000 |
Specifications
- 11% p.a. interest rate for government sector
- 13.5 % p.a. interest rate for the private sector
- Up to 5,00,000 travel insurance
- 1X reward points for spending RM1
6. Public Bank Quantum Visa and MasterCard
Why are Public Bank Quantum Visa and MasterCard the best credit card in Malaysia? Well, there are many reasons.
One is that you receive bonus points whenever you eat at restaurants or buy something from retail stores in Malaysia or overseas. These points may be exchanged for more food coupons or other products.
You also get 2% cashback (up to RM20 monthly) on all contactless transactions with a minimum purchase of RM100.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
3000 |
Other Specifications
- No annual fee credit card Malaysia with VIP points and cash back value
- 15% p.a. interest rate to settle late payment
7. Bank Rakyat Platinum Explorer Credit Card-i
It is the best credit card in Malaysia, with the highest cashback value and minimum spending. The added perk? Supplementary cardholders and Bank Rakyat workers are both eligible for this feature.
Please be informed that the joint usage of the primary and supplemental cardholders is limited to RM1,000 per year. It translates to RM83 per month.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
5000 |
Specifications
- 13.5 % p.a. interest rate to settle late payments
- Up to RM1,000 in annual cashback on every hotel stay and flight booking
- Use of cards restricted to Halal business transactions
- No fees for overseas transactions
- 3 free passes to Malaysia’s Plaza Premium Lounges
8. AmBank Visa Signature Credit Card
With AmBank’s no annual fee credit card in Malaysia, you can enjoy the ease of owning a premium credit card that typically comes with a lifetime of no terms and conditions where you don’t have to pay a massive annual fee.
This no-annual-fee feature is only valid if you own three supplementary cards. That means if you sign up for the fourth one, you must pay up to RM188 annually.
Moreover, your family and children will be protected by travel insurance up to RM1,00,000 and RM200,000. All you have to do is charge the AmBank Visa Signature for the full cost of your flight ticket.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
6,667 |
Specifications
- 15 % p.a. interest rate to settle late payments
- Five free visits to the Plaza Premium Lounges
- 10% cashback for selected labels
- 3X bonus points for spending abroad
- Up to 2,000,000 travel coverage
9. CIMB WORLD Mastercard Credit Card
Because there is never any annual fee, your CIMB credit card will never feel heavy on your pocket.
You can travel around the globe without stress and avail yourself of multiple vouchers or gifts, making CIMB WORLD MasterCard the best credit card in Malaysia.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
7,500 |
Specifications
- 1.5% cashback value for spending abroad
- 5X bonus points for flight bookings
- Up to RM1 million travel insurance
- 50% discount on golf courses in nine countries
10. AmBank Visa Infinite Credit Card
AmBank Visa Infinite is no annual fee credit card in Malaysia, with numerous other benefits.
It offers extended perks, including 50% off fancy meals and exclusive dining deals — only if you spend a minimum of RM30,000 within a calendar year after enrolling in the Club Marriott Annual Membership Program.
Not only that! You can unwind in total privacy with full access to WiFi, hot showers, food, drink, and entertainment.
To qualify for the bonus, however, you must spend a minimum of RM1,000 within 30 days before and after every lounge visit.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
10,000 |
Specifications
- 15 % p.a. interest rate to settle late payments
- 5X bonus points for spending abroad
- Six times free access to KLIA Plaza Premium Lounges
- Exclusive deals and discount offers
- 10% cashback value for specific platforms
- Up to RM2 million travel insurance
11. CIMB Visa Infinite Credit Card
No doubt, CIMB Visa Infinite is the best credit card Malaysia, as customers can use it for free for the rest of their lives. The CIMB membership program guarantees exclusive gifts, coupons, items and luxury lifestyle privileges, such as visits to Fashion Week or the biggest car rallies in Europe.
Annual Fee
- No annual fee (RM0 per year)
Requirements
|
Minimum Age for Principal Cardholder |
21 |
|
Minimum Age for Supplementary Cardholder |
18 |
|
Minimum Monthly Income |
10,000 |
Specifications
- 15 % p.a. interest rate to settle late payments
- Eight times free access to Plaza Premium Lounges
- Up to RM1 million travel insurance
- 5X bonus points for spending RM1 abroad
- 1X bonus points for spending RM1 in Malaysia
Final Thoughts
To choose the best credit card in Malaysia, you can sift through local reviews and read more about the company online before applying.
But if it still gets tricky, our article will help you sort through all the flashy options and compare several features to pick the most suitable, no-annual-fee credit card in Malaysia.
FAQs
How do you choose the best credit card in Malaysia?
Consider the following factors to choose the best credit card in Malaysia:
- No annual fees (look for annual fee waivers)
- High cashback value
- More reward points for spending money
- Free Travel coverage
You can contact the company or read their terms and conditions online to see if they fit your requirements.
What are the 4 biggest credit cards?
- MasterCard
- Visa
- Discover
- American Express
How many credit cards can I own?
You can have as many credit cards as possible until your annual income is under RM 36,000. In that case, your credit limit in Malaysia is double your monthly salary based on the bank. You can only have credit cards from two separate credit card issuers.
Is it better to get credit cards from different banks?
You can buy two cards with different features to maximise the benefits. It is possible if you buy them from different banks. Overall, it depends on your spending patterns and financial circumstances.
Which bank is easiest to apply for a credit card?
Finding out which bank offers the simplest procedure for application and approval depends on several aspects, such as your income, credit history, age, and documentation. Just compare the cards and offers by these banks and apply for the best credit card option available in Malaysia.
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