Cashback & No Annual Fee
What You Get With The Visa Platinum Credit Card-i
Launched in July 2026 as one of alrajhi bank Malaysia’s first Visa credit cards, the Platinum card is designed for everyday spending. It offers 5% cashback on dining, groceries, online purchases and utility bills, with no annual fee for life on both principal and supplementary cards.
The card uses Tawarruq, a Shariah-compliant contract, and you can manage your account through the MY alrajhi app.
Up To 5% Cashback
The card pays 5% cashback on dining, groceries, online purchases and utility bills, in ringgit and foreign currency. Cashback across all four categories is capped at RM30 per month, so RM600 in eligible spending earns the full RM600.
| Category | Cashback | Monthly Cap | What Counts |
| Dining | 5% | RM30 | Restaurants, fast food outlets and caterers |
| Groceries | 5% | RM30 | Supermarkets, bakeries, dairy and confectionery shops, meat provisioners, convenience stores, markets and vending machines |
| Online Purchases | 5% | RM30 | All applicable merchants |
| Utilities | 5% | RM30 | Phone, computer network and pay TV services, plus electricity, gas and water bills |
Whether a purchase qualifies for 5% cashback depends on the merchant’s category code, which identifies its type of business. The terms include online purchases as an eligible category but don’t specify which merchants qualify. Payments made through FPX, JomPay or online banking do not earn cashback.
Unlimited 0.2% Cashback On Everything Else
For eligible retail purchases outside the four categories above, you’ll earn 0.2% cashback with no monthly cap or minimum spend. The rate stays the same no matter how much you spend, for example, RM1,000 in eligible purchases earns RM2 cashback.
How The Cashback Is Calculated And Credited
The bank calculates cashback on each transaction using whole ringgit amounts, leaving out any sen. For example, a RM51.05 grocery bill earns 5% cashback on RM51, giving you RM2.55.
Cashback is credited on your statement date. If a transaction is posted after that date, its cashback is credited the following month.
Spending on principal and supplementary cards is combined, with all cashback credited to the principal account. This means all cards on the account share the RM30 monthly cap for the four 5% cashback categories.
Spending That Doesn’t Earn Cashback
None of the following earns cashback, including the 0.2%:
- Petrol station purchases
- E-wallet reloads, such as Touch ‘n Go eWallet, GrabPay, Boost and ShopeePay
- Card payments made through FPX, JomPay, online banking, or mail and telephone order
- Government payments such as tax and fines, and payments to charities
- Quasi-cash, such as buying foreign currency, money orders, travellers’ cheques, gaming tokens or cryptocurrency
- Instalment plans and balance transfers
- Cash withdrawals, fees, charges and taxes
When You Can Lose Cashback
If a purchase is refunded or reversed, the bank deducts the cashback earned on it. You’ll also lose any accumulated cashback if you close your card before your statement date, and the bank may withhold cashback if your account is overdue.
The bank can also change the cashback programme or reduce its benefits with 21 days’ notice.
What Tawarruq Means For Your Card
The card is offered under Commodity Murabahah through a Tawarruq arrangement. Seven Islamic banks moved their credit cards to the same structure between October 2025 and January 2026. We explain that switch in our Tawarruq explainer.
The bank doesn’t lend you cash. It buys commodities for an amount equal to your credit limit. It then sells them to you at a higher price that you pay over time. The bank sells the commodities to another buyer, and the proceeds become your credit limit. All of this happens in the background, so you use the card like any other credit card.
Shariah Rules On Merchants And Late Payment Charges
You can’t use the card at merchants the bank lists as Shariah non-compliant. These include bars and liquor stores, casinos, betting and lotteries, escort services and massage parlours.
If you pay late, the bank may charge a late payment fee. It can keep the portion that compensates for its actual loss. Any amount above that goes into a Gharamah (penalty) account and is given to charity under the supervision of the bank’s Shariah Board.
Fees And Charges
The card has no annual fee for life, but you’ll still pay a RM25 service tax for each card when it is activated and every year after that.
You get a 20-day profit-free period on retail purchases if you pay your previous statement balance in full by the due date. If you pay only the minimum amount, the bank charges profit on your retail purchases at a rate based on your payment record:
| Payment Record | Profit Rate On Retail Purchases (% p.a.) |
|---|---|
| Minimum paid on time for 12 months in a row | 15% |
| Minimum paid on time for 10 months or more in a 12-month cycle | 17% |
| Anything else | 18% |
Cash withdrawals carry 18% p.a. from the day you withdraw, with no grace period. Other charges include:
- Late payment: 1% of the outstanding balance, minimum RM10 and maximum RM100, charged monthly while your minimum payment stays unpaid
- Minimum monthly payment: 5% of the statement balance or RM50, whichever is higher
- Foreign currency spending: 1.18% mark-up on top of Visa’s rate and any Visa transaction fee
- Cash withdrawal fee: RM1 locally and RM17 overseas
- Going over your limit: no charge, but you must repay the extra by the payment due date
Who Can Apply For alrajhi bank Malaysia Visa Platinum Credit Card-i
You must be a Malaysian aged 21 to 65 with a minimum annual income of RM24,000. Only the principal cardholder can request a supplementary card. The bank decides whether your nominee qualifies.
Documents To Submit If You’re Salaried
- A photocopy of your IC or other identification document
- Your latest 12 months of EPF statements
Documents To Submit If You’re Self-Employed
- A photocopy of your IC or other identification document
- Your company’s bank statements for the last 6 months
- Your business registration form
- Your personal or business income tax returns for the last 2 years, with proof of tax payments
Who Should Get This Card
This card may suit you if you regularly spend around RM600 a month on eligible dining, groceries, online purchases and utility bills. That’s enough to earn the full RM30 monthly cashback from these categories, or RM360 a year before the RM25 card service tax. Other eligible purchases earn a smaller return of 0.2%.
Petrol and e-wallet reloads don’t earn cashback. If these make up a large share of your spending, compare other cashback credit cards or no annual fee credit cards on RinggitPlus to find one that better matches your needs.
Frequently Asked Questions
Is the annual fee really free?
The bank waives the annual fee for life on the principal and supplementary cards, with no spending requirement. You’ll still pay the RM25 card service tax per card on activation and every year after.
What happens if I don’t pay my full bill, or I pay late?
If you pay your previous statement in full by the due date, you get a 20-day grace period with no profit on retail purchases. If you pay only the minimum, the profit on retail purchases is 15% a year if you’ve paid the minimum on time for 12 months in a row, 17% if you’ve done so for 10 months or more in a 12-month cycle, and 18% otherwise. Cash withdrawals carry 18% a year with no grace period. If you miss the minimum payment, the bank charges 1% of your outstanding balance each month it stays unpaid, with a minimum of RM10 and a maximum of RM100. Late payments can also affect your credit score.
