Bank Muamalat has partnered with Pos Malaysia to launch two new shariah-compliant credit cards called the Bank Muamalat Pos Malaysia Visa Platinum-i and Bank Muamalat Pos Malaysia Visa Infinite-i. Among other benefits, the cards offer up to 8% cashback on selected expenses, as well as the ability to apply for 0% profit rate instalment payment plans and balance transfer plans.

Specifically, the Bank Muamalat Pos Malaysia Visa Platinum-i card lets you enjoy unlimited 1% cashback on overseas spend (offline retail), as well as 8% cashback for all transactions at Pos Malaysia terminal counters (capped at a maximum of RM100 per month). Cardholders will also have the option to tap into 0% profit rate instalment plans for six and twelve months, as well as 0% profit rate balance transfer plans for six months for their purchases, when necessary.

Furthermore, you’ll be provided with complimentary travel accident takaful coverage of up to RM250,000 – along with compensations for flight travel inconveniences – as well as complimentary takaful coverage of up to RM100,000 for your outstanding balance in the event of death and total permanent disablement (TPD).

As for the Bank Muamalat Pos Malaysia Visa Infinite-i card, it also provides unlimited 1% cashback on offline overseas retail spend and 8% cashback for all transactions at Pos Malaysia terminal counters (also capped at RM100 per month). Cardholders are able to apply for 0% profit rate instalment plans (six and twelve months) and balance transfer plans (six months) as well.

As a premium card, however, the Bank Muamalat Pos Malaysia Visa Infinite-i card also comes with some additional and improved perks, namely complimentary Plaza Premium Lounge access globally and an upsized complimentary travel accident takaful coverage of up to RM1 million (with compensations for flight travel inconveniences as well). Its complimentary takaful coverage for outstanding balance, meanwhile, remains capped at RM100,000.

“This strategic approach leverages Pos Malaysia’s substantial customer base, which currently accounts for over 350,000 credit card transactions at their terminals. Bank Muamalat aims to issue 30,000 cards by the end of 2024, primarily targeting customers who frequently transact at over 700 post offices and Pos Laju branches nationwide,” said the chief operating officer of Bank Muamalat, Zury Rahimee Zainal Abiden.

The Bank Muamalat Pos Malaysia Platinum-i card is already open for application for individuals with an annual income of RM36,000 and above, with an annual fee of RM80 (principal) and RM68 (supplementary). That said, these fees can be waived for the subsequent year with a minimum of 12 transactions in the current year.

Meanwhile, the Bank Muamalat Pos Malaysia Visa Infinite-i card has an annual income requirement of RM300,000 and above, and is free for life.

(Sources: Bank Muamalat [1, 2], The Edge Malaysia)

• TAGS:
• Bank Muamalat
• Bank Muamalat Pos Malaysia Visa Infinite-i
• Bank Muamalat Pos Malaysia Visa Platinum-i
• Pos Malaysia