Best No Annual Fee Credit Cards In Malaysia 2024
Some people are under the impression that there is no such thing as a free credit card. Well, there is!
For example, the Public Bank Quantum Visa and Alliance Bank Visa Virtual Credit Card are some of the best credit cards on the market that are without annual fees.
But what exactly does no annual fee on a credit card mean?
What is a no-annual-fee credit card?
It is simply a credit card with no fee being charged yearly by banks. Annual fees, essentially, are charged by banks to cardholders for all the benefits and features you get to enjoy.
Some cards are free for life, while some have annual fee waiver requirements for you to follow through, like hitting a minimum spend in a year or a minimum number of transactions, for example.
That said, waivers such as no annual fee for the first year or the first few years are typically found in the market.
Undeniably, most consumers may choose no annual fee credit cards over those with waivers, simply because you don't have to spend more and it's just more simple that way.
Regardless, depending on your preference, a credit card with a fee waiver doesn't necessarily mean a bad option, considering the requirements are typically simple for a cardholder to achieve.
You can find a list of credit cards in the table below in which we highlight those that are free for life without conditions, versus those with annual fee waivers.
Should I get a credit card with no annual fee?
For first-time applicants, a credit card with no annual fee should be the best option for you as a start. It is easy to maintain and you can get a good head start to set your credit score.
While some credit cards may not be entirely free from annual fees, you can still enjoy the benefit of an annual fee waiver.
Ready to apply? Let's check out some of the best credit cards with no annual fee in Malaysia below so you can compare which suits you better based on your personal preference.
| Credit Card | Free For Life? Annual Fee Waiver? | Card Features/Benefits |
| AEON BiG Visa Gold |
Free for the first year, and when you swipe 12 times a year for the subsequent years. |
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| Alliance Bank Visa Signature | Free for the first year, and when you spend a minimum of RM12,000 per year from the second year onward. |
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| AmBank Cash Rebate Visa Platinum | No annual fee. It's free for life. |
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| AFFIN Duo Mastercard Rewards | Free for the first 3 years, and when you swipe at least 12 times on retail transactions in a year. |
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| BSN Gold Visa Credit Card-i | No annual fee. It's free for life. |
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| CIMB e Credit Card |
Free for the first year, and when you spend RM12,000 annually for the subsequent years. |
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| HSBC TravelOne Credit Card | Free for the first year, and when you spend a minimum of RM20,000 or above annually for the subsequent years. |
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| Hong Leong Sutera Platinum Card | Free for the first year, and when you spend at least RM15,000 in a year for the subsequent years. |
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| Maybank Islamic myimpact Ikhwan Mastercard Platinum Credit Card-i | No annual fee. It's free for life. |
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| OCBC 365 Mastercard | Yes, free for the first 3 years. |
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| Public Islamic Bank Visa Platinum Credit Card-i |
Free for the first year, and when you swipe 12 times for the subsequent years. |
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| RHB Shell Visa Credit Card |
Free for the first year, and when you swipe a minimum of 24 times for the subsequent years. |
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| Standard Chartered Journey Credit Card | Free for the first year, and when you spend a minimum of RM60,000 annually on the subsequent years |
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| UOB EVOL Card | Free for the first year, and when you make 1 retail transaction with no minimum spend, per month. |
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If you have made it until the end of this article and already have a credit card in favour, just hit the "Apply Now" button above and we'll assist you along the way.
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