Best No Annual Fee Credit Cards in Malaysia 2023
Some people are under the impression that there is no such thing as a free credit card.
Well, there are cards where you don’t have to worry about the credit card annual fee as they offer zero annual fees.
In fact, some of the best credit cards on the market are free-for-life credit cards – like the Public Bank Quantum Visa and Public Bank Quantum Mastercard.
What is a "No annual fee credit card"?
When thinking about credit cards without annual fees out there, don’t forget to include credit cards that offer an annual fee waiver, which usually has waiver requirements for you to follow through like hitting a minimum spend in a year or a minimum number of transactions, for example.
On top of that, waivers such as no annual fee for the first year or the first few years are also usually found in the market.
Undeniably, most consumers may choose a no annual fee credit card over those with fee 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 waiver requirements are typically simple for a cardholder to achieve.
Check out the below table to compare credit cards that are free for life versus those with annual fee waivers.
Best credit cards with no annual fee in Malaysia
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 could get a good head start to set your credit score.
While some credit cards may not be entirely free from annual fees, you could 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 could compare which credit card suits better based on your personal preference.
| Credit Card | Free for life? Annual fee waiver? | Card features/benefits |
| Citi Cash Back Mastercard | Free for the first 3 years. New cardholders only. | Up to 10% cashback on Petrol, Groceries, Dining and Grab |
| HSBC Platinum Credit Card | Free, when you swipe 12 times in a year and meet annual spending of RM2,000. | Get 8x reward points on Contactless Spend |
| Standard Chartered Smart Credit Card | Free for the first year, and when you spend RM12,000 annually for the subsequent years. | 15% cashback on GrabPay, Touch & Go E-Wallet, Boost, FavePay, Lazada, Shopee, Taobao and Zalora |
| Public Islamic Bank Visa Platinum-i | Free for the first year, and when you swipe 12 times for the subsequent years. | 4% cashback on Online and Overseas Transaction |
| 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. | Up to 5% cashback on Online Shopping, Groceries, Dining, Petrol, Utilities and Other Retail Spend |
| AEON BiG Visa Gold | Free for the first year, and when you swipe 12 times a year for the subsequent years. | 5% cashback on Petrol transactions every Sunday |
| Maybank Shopee Visa Platinum | No annual fee. It's free for life. | 5x Shopee Coins on Special Days |
| AmBank Cash Rebate Visa Platinum | No annual fee. It's free for life. | Up to 8% cashback on Groceries, Pharmacy and Online Transactions |
| AFFIN DUO Mastercard Rewards | Free for the first 3 years, and when you swipe at least 12 times on retail transactions in a year. | Get 3x rewards points on Dining, Groceries and Petrol |
| BSN Gold Visa Credit Card-i | No annual fee. It's free for life. | 1x rewards point on Local Retail Spending, and 2x rewards points on Overseas Retail Spending |
| CIMB e Credit Card | Free for the first year, and when you spend RM12,000 annually for the subsequent years. | Earn 12x rewards points on Online/Contactless Spending with Featured Partners on eDay (10th of every month) |
| 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. | Enjoy 8x rewards points on Online Spending, Groceries, Essentials, Dining and Overseas Spends |
| OCBC 365 Mastercard | Yes, free for the first 3 years. | 1% unlimited cashback on Retail Transactions on the first RM1,000 every month |
| RHB Shell Visa Credit Card | Free for the first year, and when you swipe a minimum of 24 times for the subsequent years. | Up to 12% cashback on Petrol Fueling at any Shell station nationwide |
| UOB YOLO Visa | Free for the first year, and when you perform at least 1 retail transaction every month. | Get 5% cashback on Online, Dining and Contactless Spending (minimum 5 transactions in a calendar month for each category) |
