Best No Annual Fee Credit Cards In Malaysia 2026
Credit cards don't have to cost you money just to own them. Several Malaysian banks offer cards with no annual fees whatsoever, and many come with cashback, reward points, and other perks that rival cards with RM100+ yearly charges.
The best part? Some are completely free for life with zero conditions, whilst others simply ask for 12 swipes a year to waive the fee (easy enough if you're using your card regularly).
Whether you're a first-time cardholder looking to build credit or simply tired of paying RM150-RM600 annually for cards you barely use, no-annual-fee options let you keep your money while still enjoying rewards and protections.
No-Annual-Fee Credit Card Means You Never Pay a Yearly Charge
A no-annual-fee credit card doesn't charge you RM50, RM100, or RM600 every year just to keep it active. You can hold the card indefinitely without paying maintenance fees, something that's increasingly rare as banks typically charge annual fees to cover card benefits, insurance, and reward programmes.
The savings add up quickly. If you hold a card with an RM170 annual fee for five years, that's RM850 just in maintenance costs. With a no-annual-fee card, you keep that money or put it towards actual spending.
These cards come in two types: genuinely free-for-life options (no conditions at all), and cards with annual fee waivers (free if you meet simple requirements like 12 transactions per year). Both save you money, but the conditions matter if you're a light spender.
Do note that "free for life" applies only to the annual fee itself. You'll still pay interest (typically 15-18% per annum) if you don't settle your bill in full each month, plus the standard RM25 government service tax, late payment fees, and cash advance charges. The "free" part is specifically about the yearly maintenance charge.
Best Free-for-Life Credit Cards With No Minimum Spend Requirement
These cards don't ask for minimum spending, transaction counts, or annual reviews. You get the card, you keep the card free. It's as simple as that. They're ideal if you want a backup card, if your monthly spending varies, or if you simply want zero hassle.
Here are the best truly free options from Malaysian banks:
| Card Name | Top Feature |
 AmBank Cash Rebate Visa Platinum |
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 BSN Gold Visa Credit Card-i |
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 Maybank Islamic myimpact Ikhwan Mastercard Platinum Credit Card-i |
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| 8x Points on online/e-wallet transactions: exists only online for maximum digital security |
The Alliance Bank Visa Virtual exists only online, making it the safest choice for digital transactions. If it's compromised, your physical cards remain untouched. The AmBank Cash Rebate gives up to 8% back on groceries and online shopping with no minimum spend, unusual for a free card.
All these cards require a minimum monthly income between RM2,000 and RM8,500. Check each card's full requirements before applying.
Best Low-Maintenance Credit Cards With Easy Annual Fee Waivers
These cards have a fantastic reward structure but require you to meet an easy annual condition to waive the fee.
| Card Name | Fee Waiver Condition | Top Cashback/Reward |
 AEON BiG Visa Gold |
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 AFFIN Duo Mastercard Rewards |
| 3x Rewards Points on Dining, Groceries, Petrol |
 CIMB e Credit Card |
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 Public Islamic Bank Visa Platinum Credit Card-i |
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 RHB Shell Visa Credit Card |
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 UOB EVOL Card |
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 Alliance Bank Visa Signature |
| Up to 5% Cashback (Online, Groceries, Dining, etc.) |
 OCBC 365 Mastercard |
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 HSBC TravelOne Credit Card |
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 Standard Chartered Journey Credit Card |
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The RHB Shell Visa is particularly popular among Malaysian drivers. If you spend RM500 monthly at Shell stations, the 12% cashback gives you RM60 back each month (RM720 annually), far exceeding the RM95 annual fee. The 24-swipe requirement is easily met if you're using this card for petrol.
For online shoppers, the CIMB e Credit Card's 12x points on the 28th of each month (their "eDay") reward Shopee, Lazada, and food delivery spending. The RM12,000 annual spending requirement breaks down to RM1,000 monthly, achievable if this is your primary card.
The HSBC TravelOne and Standard Chartered Journey cards have higher fees (RM300 and RM600, respectively) but offer premium travel benefits and airport lounge access. These are worth considering only if you travel frequently and will easily meet their higher spending requirements.
Understanding Free-for-life vs. Annual Fee Waiver
Whilst both options help you save, understanding the difference prevents unexpected charges. The table below shows exactly what you're committing to with each type.
| Aspect | Free For Life (FFL) | Annual Fee Waiver Cards |
| What you pay | RM0 forever, no matter what | RM0 if you meet conditions, otherwise RM90 to RM600 annually |
| Requirement | None (you never need to worry about spending targets) | Usually 12 transactions per year or RM12,000 to RM48,000 annual spend |
| What happens if you barely use the card? | Nothing, still free | You'll be charged the full annual fee |
| Best for | Backup cards, occasional users, students, first-time cardholders | Regular spenders who easily meet 12+ swipes a year and want better rewards |
| Reward quality | Usually basic (2% to 3% cashback max) | Often better (5% to 12% cashback, premium travel perks) |
If you prefer a hassle-free option with no tracking required, free-for-life cards are ideal. But if you're a regular spender who uses credit cards for daily purchases, waiver cards often provide better cashback rates and premium benefits that justify the small effort of meeting annual conditions.
The key question to ask yourself: Will I definitely use this card at least once a month? If yes, waiver cards are safe. If no, stick with free-for-life options.
Match the Card to Your Actual Spending Patterns
Look at your last three months of expenses. If you're spending RM500+ monthly at petrol stations, the RHB Shell Visa (12% cashback on Shell) saves you RM60 per month, which is RM720 annually. If most of your spending happens online or via e-wallets, the Alliance Bank Visa Virtual's 8x points or CIMB e Credit Card's 12x points (on the 28th) deliver better value.
Your monthly income also determines which cards you can access. Most no-fee cards require between RM2,000 and RM4,000 monthly income, but premium options like the HSBC TravelOne need RM8,500 monthly. Check your payslip before applying to avoid wasting time on applications you don't qualify for.
Finally, consider whether you want cashback (money back in your account) or reward points (redeemable for gifts, vouchers, or air miles). If you rarely redeem points, stick with cashback cards. They're simpler, and the savings are automatic. If you enjoy collecting points for specific rewards or travel redemptions, points-based cards like the CIMB e Credit Card or AFFIN DUO Mastercard offer flexibility.
Many Malaysians use no-annual-fee cards as their primary card for online shopping (Shopee, Lazada), Grab rides, and e-wallet top-ups, whilst keeping a premium card for travel. This strategy maximizes rewards without paying multiple annual fees.
Frequently Asked Questions (FAQ)
1. Can I really get a credit card with no annual fee forever?
Yes, but check whether it's genuinely "free for life" or requires meeting conditions each year. Some Malaysian banks offer cards that are permanently free with no minimum spend requirements. You'll never pay an annual fee. Others waive the fee only if you make at least 12 transactions per year or spend a certain amount.
Always check the Product Disclosure Sheet (PDS) or ask the bank directly which type you're getting. Cards marked "Free for Life" or "FFL" are the safest bet if you want zero maintenance. If you see language like "annual fee waived subject to conditions," read the fine print carefully.
2. Are virtual cards like Alliance Bank Visa Virtual valid and secure?
Yes, virtual cards are fully legitimate and often safer than physical cards for online use. The Alliance Bank Visa Virtual Credit Card exists only as a card number, CVV, and expiry date (you can view these in the bank's app). You can't use it at physical shops, but it works perfectly for online shopping, e-wallet top-ups, and subscription payments.
The security advantage is significant. If your virtual card details are compromised in a data breach or phishing scam, your physical cards remain completely safe. You can also cancel and replace a virtual card instantly through the app without waiting for a new physical card to arrive by mail.
3. How do I apply for a no-annual-fee credit card?
You can apply through RinggitPlus, directly at the bank's website, or by visiting a bank branch. The easiest method is through RinggitPlus because our platform lets you compare multiple cards side-by-side, and our team can help answer questions before you commit.
You'll need your MyKad (IC), proof of income (latest payslip or EPF statement), and proof of address (utility bill or bank statement). Some banks now offer instant approval for applicants who meet all requirements, with the physical card arriving within 7-14 working days.
4. Can foreigners apply for these cards in Malaysia?
Yes, foreigners with valid work permits can apply, but requirements are typically stricter. Most banks require foreigners to have a minimum monthly income of RM10,000 (higher than the RM2,000-RM4,000 required for Malaysian citizens). You'll also need a valid work permit, an employment confirmation letter from your company, and at least six months of Malaysian employment history.
Some banks may require a fixed deposit as security for your credit limit, especially if you're new to Malaysia or don't have an established credit history with Malaysian banks. Check with individual banks for their specific foreign credit card policies.
5. What other fees should I know about?
Interest charges are the highest cost if you don't pay your bill in full. Malaysian credit cards typically charge 15-18% annual interest on unpaid balances, calculated daily. If you carry a RM5,000 balance for a month at 18% annual rate, you'll pay about RM75 in interest charges.
Other common charges include late payment fees (RM10 if you're late by up to RM200, increasing to RM100 for balances over RM5,000), cash advance fees (5% of withdrawal amount with a minimum of RM15), foreign transaction fees (1% of overseas purchases), and the annual RM25 government service tax that applies to all credit cards regardless of whether they have an annual fee.
The best way to avoid these charges completely is to pay your statement balance in full every month before the due date and avoid cash advances.
6. Can I have multiple no-annual-fee credit cards?
Yes, but keep it manageable. Most people do well with two or three cards maximum. Many Malaysians hold multiple no-fee cards to maximize rewards: one for petrol (RHB Shell), one for online shopping (Alliance Bank Virtual), and one general card for everything else.
The key is responsible management. Each card has its own statement date, payment due date, and minimum payment requirement. If you struggle to track multiple cards or have missed payments in the past, stick with one or two cards to keep things simple. Your credit score benefits more from consistent, on-time payments than from maximizing every possible cashback opportunity.
A practical strategy is to set up auto-debit for at least the minimum payment on each card, then manually pay the remaining balance. This protects you from late payment fees even if you forget a due date.
7. Do these no-annual fee cards affect my credit score differently?
No, your credit score treats all credit cards the same way, regardless of annual fees. What matters is your payment history (paying on time every month), credit utilisation ratio (using less than 30% of your total credit limit), and length of credit history (how long you've held credit accounts).
A no-annual-fee card that you use responsibly and pay on time will build your credit score just as effectively as a premium card with an RM600 annual fee. In fact, free-for-life cards can be excellent for building credit because you can hold them indefinitely without worrying about annual costs, gradually lengthening your credit history.
If you fail to meet the required annual spending (e.g., RM10,000) or the minimum transaction count (e.g., 12 swipes), the bank will automatically charge the full annual fee to your credit card statement. This fee is typically subject to the annual RM25 SST charge as well. You must then pay this fee by the due date to avoid interest charges and a negative mark on your payment history.
8. Can I upgrade from a no-annual-fee card to a premium card later?
Yes, most banks offer upgrade paths as your income and spending increase. If you start with a basic no-fee card and later want premium benefits like lounge access or higher reward rates, contact your bank about upgrading to their mid-tier or premium cards.
Some banks will upgrade you automatically if you consistently spend above certain thresholds. Others require you to submit a new application with updated income documents. In most cases, an upgrade to the same bank's premium card is easier than applying for a completely new card at a different bank because they already have your payment history and credit relationship.
9. What happens to my annual fee waiver if I don't meet the conditions?
You'll be charged the full annual fee on your next statement if you don't meet the waiver requirements. For instance, if the RHB Shell Visa requires 24 swipes per year and you only make 20 transactions, the RM95 annual fee will appear on your statement when the card's anniversary date arrives.
Most banks send a reminder notification 30-60 days before your card anniversary, showing your progress towards the waiver requirements. If you're close but haven't met the target, make a few small purchases before the deadline to qualify. Some cardholders keep a spreadsheet or set phone reminders to track their annual progress, especially if they hold multiple waiver cards.
10. Will cancelling a no-annual-fee credit card affect my credit score?
Yes, it can. Cancelling a card may reduce your total available credit limit, which could increase your credit utilisation ratio. This may negatively affect your credit score, especially if you have multiple loans or high monthly spending. Consider keeping long-held cards active for a stable credit history, particularly if they are free to maintain.
Apply for a No-Annual-Fee Credit Card Today
Apply for no-annual-fee credit cards online with ease. With RinggitPlus, you can compare and apply for free-for-life credit cards directly on our platform, and our credit card recommendation service can help you find the best card for your income and spending needs.
While browsing, remember to check out our weekly sign-up offers for a chance to take home exciting rewards.
