Best Credit Card in Malaysia 2020

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Best Credit Cards in Malaysia 2020

RinggitPlus brings you the latest deals, discounts and offers from your favourite credit cards so you can maximise on savings.

Keep a tab on this section as it will be updated weekly.

Credit Card Promo Code and Discount in Malaysia 2020

[updated: 1 July 2020]


Best Credit Cards in Malaysia 2020

Bank Merchant
Promotion Expiry Date
AEON Zalora

20% off (min. spend RM180)
Promo code: AEONCREDIT

31 Dec 2020
Affin Bank
20% off (min. spend RM50)
Promo code: AFFINAMAX2020

30 Apr 2021
Ambank Bloomthis
10% off selected flowers & gifts*
Promo code: MCBLOOM10


15 Apr 2021
Citibank Pixajoy
60% off photo book category
Promo code: CITIPIXA60PB

RM5.90 for 5" x 5" Laminated Photo Prints (18 pieces)
Promo code: CITIPIXA2020
31 Dec 2020
CIMB Cake Together
10% off all cakes (no min. spend)
Promo code: CIMB10

*valid for delivery within KL, Selangor, Penang & JB

31 Dec 2020
HSBC Book Depository
5% discount voucher + free delivery
14 Aug 2020
Hong Leong Bank Lenovo
25% off Lenovo ThinkStation and ThinkPad
20% off Lenovo Legion laptops & accessories
15% off Lenovo IdeaPad laptops
31 July 2020
Maybank Shopee
RM15 off every Tuesday (min. spend RM150)
Promo code: MBB15
29 Dec 2020
RHB Lazada
RM16 rebate every Saturday & Sunday, for existing users (min. spend RM120)
RM10 discount on Saturday & Sunday for new users (min. spend RM10)
27 Sep 2020
UOB Picha Eats
8% off any Mini Buffet package*
Promo code: UOB-PICHA


30 Apr 2021
Standard Chartered Village Grocer
15% cashback (min. spend RM500/month, capped at RM80)
21 Aug 2020
Public Bank Hermo 10% off (new customers)
Promo code: HMPBB20NEW10%

RM10 off (min. purchase RM120, existing customers)
Promo code: HMPBB20RM10
31 Dec 2020   
OCBC Photobook
60% off (via app)
Promo code: PBAPPOCBC60
31 July 2020

Bank Hotel Promotion Expiry Date
Maybank Swiss-Garden Beach Resort, Kuantan RM210 for 2D/1N stay in Deluxe Room + breakfast (Sunday - Thursday)
31 Dec 2020
KLOOK 5% off tours & sightseeing activities (Mastercard only)
Promo code: KLKMCT5
31 Aug 2020
Affin Bank
Langkawi Yacht Club Hotel 10% off room bookings (Visa only) 31 Dec 2020
Corus Hotel, Kuala Lumpur 60% off room bookings 31 Dec 2020
The Danna Langkawi 50% off Best Available Rates
20% off The Danna Spa + Free 2x cocktail
10% off F&B
31 Dec 2020
Expedia 9% off hotel bookings 31 Dec 2020  
Tanjung Rhu Resort RM350 for Damai Suite Room (NP: RM1,350)
RM400 for Cahaya Suite room category (RRP: RM1,450)
RM450 for Bayu Suria Suite room category (RRP: RM1,550)
RM500 for Bayu Senja Suite room category (RRP: RM1,800)
RM800 for Anjung Senja Suite room category (RRP: RM3,400)
RM600 for Family Suite room category (RRP: RM1,900)
30 Nov 2020
Hong Leong Bank
The Taaras Beach & Spa Resort, Kuala Terengganu
10% off Redang Explorer Room Package
Promo code: TTRHLB
1 Sep 2020
Colmar Tropicale 15% off Best Available Rates 31 Mar 2021
Standard Chartered The RuMa Hotel and Residences Stay 3 Nights, Pay 2 Nights + premium benefits in Kuala Lumpur*
*for Visa Signature, Infinite or Platinum
5 Dec 2020  
Lotus Seaview 50% discount for Standard & Deluxe Rooms 31 Aug 2020
KLOOK 5% off (capped at RM30)
Promo code: KLOOKOCBC5

RM15 off for new users (min. spend RM40)
Promo code: OCBCFIRST15
31 Dec 2020
Public Bank Expedia Extra 9% off hotel bookings
Promo code: PBEXP9

RM50 off Flight + Hotel Package *
Promo code: PBEXP50

31 Dec 2020
RHB Copthorne Orchid Hotel, Penang 15% off all room categories (not valid on Public Holidays) 31 Dec 2020

Bank Merchant Promotion Validity
HSBC Hair Atelier
20% off Color, Perm, Rebonding & Hair/Scalp treatment
31 July 2020
AmBank Aveda
10% off (min. spend RM250)
30 Sep 2020
Citibank Swiss Perfection Boutique Spa
50% off first treatment trial
20% off storewide (subsequent visits)
31 Dec 2020
CIMB Myth Hair & Nail Studio
up to 10% off
31 Dec 2020
Maybank MyClinic
up to 20% off skin & beauty treatment
free 1x skin glowing treatment worth RM180 (min. spend RM30)
31 Dec 2020
UOB Glo Laser Centres
RM188 for 2x SKINFIX Laser and IPL Face Treatments (NP: RM892)*
*new customers only
31 Aug 2020
Public Bank Four Seasons Hotel Kuala Lumpur
15% off all spa treatments
31 Dec 2020
AEON Spine & Joint 20% off single treatment or package 31 Dec 2020
Affin Bank Beaute Library 20% off any package (min. spend RM1,000) 31 Oct 2020

What is a credit card?

It is a payment instrument that you can use to purchase something instead of using cash. In theory, when you pay for something using a card, that amount is owed from the bank and need to be paid back.

Credit Card

A credit card is designed to meet various income levels, from the entry-level (sometimes referred to as "Gold"), mid-range ("Platinum"), and high-income (e.g. Infinite, Premier, Signature).

How does a credit card work?

Think of it like a fast loan that you can pay back when your salary kicks in. To understand more on how it works, let’s take a look at the basic features such as follows:

Annual fee

A credit card has a fee that is charged annually to the cardmembers for the benefits that come with it.

Some of them don’t have an annual fee, whereas there are also cards with an annual fee waiver condition.

To get your credit card annual fee waived is simply by making one transaction per month for 12 consecutive months, or meet the card's minimum spending required in a year.

Interest rate on purchases

This may not be theoretically correct, but banks charge interest on the outstanding amount as a penalty for borrowing their money and not repaying them on time.

Credit card interest rate, also known as Finance Charge, is usually charged on the outstanding balance amount when it is past due.

For example, if you have used up RM300 on your card and failed to settle it within 20-day interest-free period, a Finance Charge of between 15%-18% p.a. will be levied on that amount.

In Malaysia, there are 3 tiers of annual interest rates chargeable on the outstanding balance based on the cardholders’ repayment habit:

Interest rate Descriptions
15% p.a. (1.25% p.m.) Tier 1: for cardholders with prompt payments for 12 consecutive months
17% p.a. (1.42% p.m.) Tier 2: for cardholders with prompt payments for 10 months or more in the last 12-month cycle
18% p.a. (1.50% p.m.) Tier 3: for cardholders with payments of less than 10 months in a 12-month cycle

If you consistently pay your card bills in full and on time, then you don't have to worry about interest rates at all.

Interest-free period

This is a grace period whereby you can enjoy zero interest on your outstanding balance. This period starts from the date of issuance of your credit card statement until the statement due date.

Credit limit

This is the maximum amount that a lender can extend to you for a particular line of credit. If you earn a monthly income of RM3,000 or less, the bank will usually set a credit limit to 2 times your salary.

For those earning more than RM36,000 per year, there is no limit to the credit that will be assigned to you. You can also own multiple cards from multiple banks with varying credit limits.

Cash advance

Cash advance is a facility that allows you to withdraw money from your credit card through ATM much like a debit card.

Not to be confused with a cash loan facility whereby you can borrow a certain amount from your card and repay it in instalments, which is similar to an EPP.

A cash advance is subject to a cash withdrawal fee and interest rate of 18% p.a., which is calculated daily until you pay up the withdrawn amount in full.

Billing or statement cycle

Each credit card transaction you make will be posted in your credit card statement. This statement, which itemises all your transaction histories for the past month, will arrive at your mailbox or inbox in the current month.

It is important to take note of the statement due date so that you will not be charged with unnecessary fees and charges on the outstanding balance.

Minimum monthly payment

In your statement cycle, you are allowed to make a partial repayment of your card bill to avoid being charged with a late finance fee on the outstanding balance.

However, the remaining amount of your outstanding balance will still incur finance charge. The minimum monthly payment is usually at 5% of the total outstanding balance, which must be settled before the statement due date.

How many types of credit cards in Malaysia?

There are 4 biggest card networks in Malaysia: Visa, MasterCard, American Express and UnionPay. They partnered with Malaysian banks to issue credit cards to consumers.

The banks then further categorised these cards to meet various consumers’ needs and spending habits to having features such as cashback, reward points and air miles.

Cashback You get back a portion of money you have spent into your account
Rewards You earn loyalty points for every Ringgit spent, redeemable for products and services
Air Miles You earn loyalty points for every Ringgit spent, redeemable at your frequent flyer programs

Normally, a credit card will have one of the features above. Depending on the income band, it can have a combination of features such as cashback and rewards, or air miles and cashback

What is the main requirement for credit card application?

The major requirement is your minimum income. According to the 2011 BNM guidelines, the minimum income for a first-time applicant is RM24,000 annually.

Banks will require proof of income to qualify you as a credit cardholder. Other than that, you must also have a valid identity card, employer letter of confirmation and other documents to support your application.

Not all banks have the same income requirement for the same card type. For example, a Gold card by Bank A is offered to those with a monthly salary of RM3,000 and above, whereas Bank B opens to anyone earning a minimum of RM2,000 per month.

How many credit cards can I apply?

There is no limit to the number of credit cards you can apply from any banks, however, your chances of getting approved will depend on your income and other factors mentioned above.

BNM has stated that for those earning RM36,000 and less, you can own credit cards from maximum two different card issuers, with a credit limit capped at 2x your monthly salary (but whether you get this amount depends on the banks you choose).

For anyone with a yearly income of RM36,000 and above, you can own as many credit cards you want from multiple issuers.

What happens if I fail to repay my credit card on time?

If you miss your payment, late payment fee will be charged on the outstanding balance. 

That's not all, your outstanding balance will attract a finance charge of between 15%-18% p.a. which is compounded daily until you paid off the overdue amount.

A late payment habit can have a negative effect on your CCRIS (Central Credit Reference Information System) record. 

CCRIS is a central system that stores information of your credit histories which is referenced by all banks when assessing your credit risk.

That's not all, you will also have a lower credit score that consequently reduces your chances of getting approved on your personal, car or home loan applications in the future.

Which credit card is the best for me?

 At RinggitPlus, we have several categories that can cater to the unique needs of every Malaysian, such as:

  • Sign Up Offers – For the lovers of free gifts. Apply for a selected card, get approved by the bank, activate it and then claim your gift!
  • No Annual Fee – First year free? Free for a lifetime? Free annual fee? You got it
  • Cashback – Get cash back into your account on every spend
  • Rewards – Collect reward points to redeem free gifts, vouchers and air miles
  • Petrol – Earn reward points, cashback or air miles with every fuel spend. Get discounts on car washes, polishes, parts and accessories
  • Travel – Save on fuel spend, air ticket or travel insurance coverage
  • Islamic – For ethical spenders
  • Air Miles – For frequent flyers and travellers
  • Free Airport Lounge Access – For business frequent flyers
  • Online Shopping – For shopaholics who have a con-fashion (confession)
  • Movie Promotions – For movie buff
  • Premium - For the VIPs and high net worth individuals

Which banks can I apply for a credit card online?

There are 19 banks in Malaysia offering credit cards for various consumers with unique appetites that you can apply online for:


  1. Citibank
  2. HSBC
  3. Public Bank
  4. RHB
  5. Standard Chartered
  6. UOB

Fast & Easy Online Application:

  1. AEON Credit Service
  2. Affin Bank
  3. Affin Islamic Bank
  4. Alliance Bank
  5. AmBank
  6. BSN
  7. Bank Islam
  8. Bank Rakyat
  9. CIMB
  10. Hong Leong Bank
  11. ICBC
  12. Maybank
  13. OCBC

best credit cards in Malaysia 2019

Best Credit Cards Malaysia 2020

  1. Citi PremierMiles Mastercard

  2. Standard Chartered JustOne Platinum MasterCard

  3. HSBC Amanah MPower Platinum Credit Card-I

  4. RHB Cash Back Visa Credit Card

  5. UOB YOLO Visa