Annual Fee Waiver
If you're looking for your first credit card, you can consider Affinbank MasterCard Basic that provides credit card benefits without the annual fee. The fee is waived forever with no hidden conditions.
Complimentary Travel Insurance
Affinbank MasterCard Basic offers automatic travel insurance of up to RM250000 when you charge the full air ticket expenses on the card.
Besides that, the travel inconvenience insurance compensation is provided for free. For flight delays and misconnections, you will be compensated for up to RM250. If you get your luggage delayed, you will receive compensation of RM250. Other than that, if your luggage is lost, you can get reimbursed up to RM500. The sum assured for family coverage is double.
The insurance coverage is underwritten by AXA Affin General Assurance Berhad.
Similar to the debit card, the credit card allows you to perform cash withdrawal. For credit card, the cash withdrawal is also known as cash advance.
Affinbank MasterCard Basic allows you to perform cash withdrawals for up to 3 transactions a day. However, there's a cash withdrawal limit, which is 25% of the credit card limit or the available credit limit, whichever is lower. The minimum credit limit is set at RM3000 and the maximum limit is depending on your eligibility criteria.
Bear in mind that the cash withdrawal feature is not a free service. For each withdrawal, you will be charged 5.3% of the withdrawal amount or a minimum of RM21.20, whichever is higher. It is better to settle the withdrawal amount before the payment due date, otherwise, Affin Bank will charge you 17.5% p.a. on the outstanding balance. Unlike credit card spending, the interest-free period is not applicable on cash withdrawals.
Interest Rate Rebate
The credit card interest rate is also known as the finance charge.
If you have outstanding balance carried forward from the previous month's statement, you can enjoy the interest rate rebate of 7.51% p.a. if you make the minimum payment before or by the payment due date. That means the interest rate will be 9.99% p.a.. On the other hand, if Bank Rakyat receives your minimum payment after the payment due date, the interest rate will increase to 17.5% p.a..
The minimum monthly payment is 5% of the outstanding balance or minimum of RM50, whichever is higher.