Affin Bank Launches New Affin Aura Credit Card/-i Offering Reduced Finance Charges

Alex Cheong Pui Yin

6th October 2023 - 2 min read

Affin Bank has launched a new credit card called the Affin Aura credit card/-i, which lets cardholders enjoy a lower finance charge for retail transactions, starting from as low as 8% p.a..

The lowest 8% p.a. finance charge is applicable for the cardholder’s first year, after which it will increase to a rate of between 9% p.a. and 18% p.a., depending on the conditions that are met. Here’s the full list of requirements that must be met in order for you to enjoy the new card’s benefits:

Year	Applicable finance charges (p.a.) under the Affin Aura card
Year 1	8% p.a.
Year 2 onwards	Tier 1: 9% p.a. if cardholder has promptly settled the minimum payment due for 12 consecutive months Tier 2: 12% p.a. if cardholder has promptly settled the minimum payment due for at least 10 months in a 12-month cycle Tier 3: 18% p.a. if cardholder did not meet either of the above criteria

For comparison, the finance charges for credit cards usually range from a higher 15% p.a. to 18% p.a., tiered according to your repayment history. Cardholders who promptly settle their monthly minimum payments consecutively for the last 12 months will be charged a 15% p.a. rate, while those who successfully do so for at least 10 months in a 12-month cycle are charged 17% p.a.. Meanwhile, the maximum 18% p.a. finance charge is for cardholders who don’t belong to either of the aforementioned categories.

In terms of annual fees, the Affin Aura card is free to use, and is made available to those with a minimum annual income of RM24,000 (RM2,000 per month). Affin Bank also highlighted that this card is made of recycled PVC, which is in line with the bank’s commitment to integrate sustainability practices into the delivery of its products and services.

Notably, the Affin Aura card is somewhat similar in spirit to the UOB Simple credit card, which also offers a lower finance charge on your purchases (and cash advances) every month via 10% cashback if you pay at least the minimum monthly due amount on time. Additionally, this card does not have annual fees and no late payment charges.

(Source: Affin Bank)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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