Best Credit Card in Malaysia 2022

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Best Credit Cards in Malaysia 2022

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

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

Credit Card Promo Code and Discount in Malaysia 2022

[Updated: 23 November 2022]

Bank Merchant Promotion Expiry Date
Affin Bank Capri by Fraser, Bukit Bintang15% off food & beverages
(Exclude alcoholic drinks)
30 Aug 2023
AEON Sarang Korean Street Food10% off
(Minimum spend of RM20 on a single receipt)
31 Dec 2022
Alliance Bank
Wise CraftersRM15 discount
(No minimum spend)
Promo code: Alliance15
31 Dec 2022
AmBank Backyard Pub30% off all food items
(Menu Price)
31 Jan 2023
CIMB RBG Bar & Grill15% off the total bill
(Valid for dine-in and takeaway)
31 Dec 2022
Citibank Bistro 160, Grand Millennium Kuala Lumpur33% off on a la carte menu
31 Dec 2022
HSBC Bakebe MY10% off the total bill
31 May 2023
Hong Leong Bank DoubleTree by Hilton Johor Bahru10% off total F&B bill at any dining outlets in the hotel30 Nov 2022
Public Bank Tony Roma's20% discount on selected menu
*Valid with Public Bank Mastercard credit cards
28 Feb 2023
UOB Courtyard by Marriott, Penang 15% off the total food bill
31 Dec 2022

Merchant Promotion Expiry Date
AEON Sentuh10% off normal-priced services

*Valid with AEON Visa Credit Cards only
31 Mar 2023
Affin Bank Giffy & CoRM15 OFF with a minimum spend of RM128
Promo code: GIFFYAFFIN15

RM25 OFF with a minimum spend of RM158
Promo code: GIFFYAFFIN25
30 Apr 2023
Alliance Bank Junandus Cake Shop12% off

(Minimum spend RM80)

Promo code:
31 Dec 2022
AmBank Alwis & Xavier10% off

(Minimum spend RM75)
*AmBank Visa cards only

Promo code:
31 Dec 2022
All users
5% off on all local activities
2% off on special activities
Promo code: CIMBKLOOK5

New users
RM15 off
(Minimum spend RM100 on all local activities)
Promo code: NEWCIMB15
31 Dec 2022
HSBC Bonia 20% off
*Selected normal-priced Items at participating stores and online
Promo code: BNXHSBC20P
31 Mar 2023
Hong Leong Bank The Good Stuff Complimentary 1 Roku Gin
(Minimum spend RM1,000 on alcohol bottles)
Promo code: THEGOODHLB2022
31 Mar 2023
Public Bank Online PasarRM20 off & complimentary delivery
(Minimum spend RM120)
Promo code: PUBLICFD20
31 Dec 2022
RHB Beast Kingdom 10% off normal-priced items
Promo code: BK+first 6 digits of your RHB card number
31 Dec 2022

Bank Merchant Promotion Expiry Date
AEON Agoda Up to 9% off on hotel bookings with Mastercard only
Book via
31 Dec 2022
Affin Bank Banyan Tree Kuala LumpurAFFIN INVIKTA & AVANCE cards
15% off Best Available Rate (include 2 breakfasts for 2 pax)

Other AFFIN cards
10% off Best Available Rate (include 2 breakfasts for 2 pax)
31 Dec 2022
Alliance Bank Dorsett Putrajaya 20% off Best Available Rate for all room categories
Promo code: DORSETTA2022
31 Dec 2022
AmBank Avani Sepang Goldcoast Resort 20% off Best Flexible Room Rates
Book via
31 Dec 2022
CIMB Expedia
7% off hotel bookings worldwide
Promo code: CIMBMY7
31 Dec 2022
Citibank The Chateau Spa & Wellness Resort 15% off Best Flexible Rates
31 Dec 2022
HSBC KLOOK 12% off hotel bookings in Malaysia
Promo code: HSBCHOTEL12
31 Dec 2022
Hong Leong Bank 8% off first-room bookings
Stay period: valid until 31 March 2023
31 Dec 2022
Public Bank Rosa Malacca Hotel RM180 nett
(Sunday - Thursday)

RM260 nett
(Friday and Saturday)
30 Nov 2022
RHB Swiss-Garden Beach Resort Kuantan RM260 nett
(2D/1N stay in a Deluxe Room for a single or double occupancy with two breakfasts)
31 Dec 2022
UOB Agoda 8% off worldwide hotel bookings
(Capped at RM200 per booking with UOB Visa cards)
Stay period: valid until 30 June 2023
31 Dec 2022

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 needs 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 about 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 card members 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.

Typically, to get your credit card annual fee waived simply by making one transaction per month for 12 consecutive months, or meeting 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 the 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 habits:

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's 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 of 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

A 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 on your credit card statement. 

This statement, which itemises all your transaction histories for the past month, will arrive in 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 credit card bill to avoid being charged a late finance fee on the outstanding balance.

However, the remaining amount of your outstanding balance will still incur a finance charge. 

The minimum monthly payment is usually 5% of the total outstanding balance, which must be settled before the statement's due date.

How many types of credit cards are there in Malaysia?

There are 4 biggest card networks or card schemes 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 by having features such as cashback, reward points and air miles.

Cashback: You get back a portion of the money you have spent in 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 a credit card application?

The major requirement is your minimum income. According to the 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 card holder. 

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 for?

There is no limit to the number of credit cards you can apply for from any bank, 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 a maximum of two different card issuers, with a credit limit capped at two times 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 as you want from multiple issuers.

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

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

Your outstanding balance will attract a finance charge of between 15% - 18% per annum which is compounded daily until you paid off the overdue amount.

Will my late payment affect my CCRIS Report?

For context, CCRIS is a central system that stores information about your credit history which is referenced by all banks when assessing your credit risk.

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

Not to mention that 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.

How do I check my CCRIS report and can I get it online?

According to the Credit Bureau by BNM, you can make a request to obtain your personal CCRIS report online via the eCCRIS portal.

However, for business owners and deceased individuals, only authorised persons can make a request to the Credit Bureau for access to the credit report.

If you have yet to register as an eCCRIS user, you may go to the Credit Bureau's website (, fill in the application form and submit it online via eLINK.

Alternatively, you may also get your credit report via any Credit Reporting Agency such as Experian, or visit the CCRIS kiosk at any AKPK branch near you.

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 credit card, get approved by the bank, activate it and then claim your gift!

No Annual Fee

First-year free? Free for a lifetime? Waived annual fee? You got it.


Get cash back into your account on every spend.


Collect reward points to redeem free gifts, vouchers and air miles.


Earn reward points, cashback or air miles with every fuel spend. Get discounts on car polishes, parts and accessories.


Save on fuel spending, air tickets or travel insurance coverage.


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 (confessions).

Movie Promotions

For movie buff.


For the VIPs and high net-worth individuals.

What is the list of banks to 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. They are:

  1. Citibank
  2. HSBC
  3. Public Bank
  4. RHB
  5. Standard Chartered
  6. UOB
  7. AEON Credit Service
  8. Affin Bank
  9. Affin Islamic Bank
  10. Alliance Bank
  11. AmBank
  12. BSN
  13. Bank Islam
  14. Bank Rakyat
  15. CIMB
  16. Hong Leong Bank
  17. ICBC
  18. Maybank
  19. OCBC

Top 5 Credit Cards in Malaysia 2022

Top credit cards in Malaysia 2022

Having a hard time choosing the best credit cards available in the market? Below would be our top 5 picks of credit cards that can cater to your unique preferences.

Read our review of these cards and apply online with RinggitPlus easily. You might also stand a chance to bring home exciting sign-up gifts too!

  1. Citi Simplicity Mastercard®

  2. Standard Chartered JustOne Platinum MasterCard

  3. Public Bank Quantum Visa

  4. CIMB e Credit Card

  5. UOB YOLO Visa

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