Keep it simple with a credit card that has fewer frills than a Jil Sander dress.
No complicated billings and charges at the end of your monthly cycles – in layman's terms, what you spend is what you pay for.
Easy Payments with Alliance Bank Visa Basic
Having the right amount of cash on you at all times can be well, not entirely feasible.
Skip those constant trips to the ATM machine with the Alliance Bank Visa Basic credit card!
Charge and swipe, charge and swipe. It’s that easy.
All those things you couldn’t do before, like buying a new Macbook online or booking a flight? Done with just a swipe, literally.
What’s more, you can also skip paper bills and go e-banking all the way.
Low Annual Fees
There’s a reason why banks try to upsell their premier credit cards to you.
Always rather than not, you’ll end up spending more on things you wouldn’t before and pay more annual fees.
The Visa Basic card comes with a low annual fee of RM20 a year for the principal cardholder, whereas RM10 for the supplementary cardholder.
You should also know that this Visa Basic credit card is free for the first year. Plus, you can even get it waived off for subsequent years by swiping 12 times or spending a minimum of RM5,000 in a year.
Fees and Charges
All charges to your Alliance Bank Visa Basic Card come with a 20-day interest-free period.
After that, credit card interest rates will be compounded daily until you settle your bills.
Here’s a thing or two you should know about your repayments.
If you cannot repay your credit card bill for the month, make sure you make the minimum monthly payments. It will be 5% of the outstanding amount.
If this amount adds up below RM50, you will be required to pay RM50 instead.
Don’t be late on your payments ever. Late payments will result in a 1% fee on the remaining outstanding balance or RM10, whichever is higher.
The maximum late payment fee is capped at RM100. Yes, you have to repay what you owe and make minimum payments if necessary.
Run into an emergency? You make a cash withdrawal from any VISA-authorised lenders.
Pay a low-interest fee of 5.30% upfront, and you’re good to go. The amount that you can withdraw will be determined by your credit limit.
Family members can also enjoy the convenience of having a credit card if they signed up for a supplementary Alliance Bank Visa Basic card for just RM10.60 a year.
Only one condition, they have to be above the age of 18 years.
Alliance Bank Visa Basic Finance Charge
What is the interest rate imposed on repayments?
|Conditions of Repayments||Tiered Interest Rate (p.a.)|
|Prompt Repayment every month||15%|
|Prompt Repayment 10 out of 12 months||17%|
|Prompt Repayment of less than 10 out of 12 months AND New Cardmembers||18%|
Previously, the finance charge is only imposed on the below that are not paid after the payment due date:
- Retail transaction - finance charge is calculated from the posting date till full payment is made
- cash advances/withdrawal transaction - finance charge is calculated from the transaction date
The finance charge is now based on the prevailing tiered interest rate (above) that will be imposed on any of your outstanding balances including All Fees and Charges (except late payment charges).
These are carried forward from the previous statement until the outstanding balances are settled in full.
All Fees and Charges include:
- Retail Transactions
- Annual Fee
- Cash Advance Fee
- Card Replacement Fee
- Statement Copy Fee
- Sales Draft Retrieval Copy Fee
- Any other form of service of a miscellaneous fee (if any) EXCEPT Late Payment Charges
A late payment charge of 1% will be imposed if the minimum payment is not made by the payment due date. This is subject to a minimum of RM10, whichever is higher up to a maximum of RM100.
This change in Finance Charge will not have any impact if you do not have any unpaid outstanding balance.
In fact, you will continue to enjoy a 20-day interest-free period, provided that the outstanding balances of your Alliance Bank Visa Basic are carried forward from the previous month's statement cycle and are paid in full.