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 Alliance Bank Visa Virtual Credit Card.
What is a "No annual fee credit card"?
It is simply a card that has no fee that is charged yearly. Banks charge annual fees to credit card holders for all the card benefits that you get to enjoy.
Some cards are completely free 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 could compare which suits 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.||
|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.||
|AmBank Cash Rebate Visa Platinum||No annual fee. It's free for life.||
|AFFIN Duo Mastercard Rewards||Free for the first 3 years, and when you swipe at least 12 times on retail transactions in a year.||
|BSN Gold Visa Credit Card-i||No annual fee. It's free for life.||
|CIMB e Credit Card
||Free for the first year, and when you spend RM12,000 annually for the subsequent years.||
|HSBC Platinum Credit Card||Free annual fee, when you swipe 12 times in a year and meet annual spending of RM2,000.||
|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.||
|Maybank Shopee Visa Platinum||No annual fee. It's free for life.||
|OCBC 365 Mastercard||Yes, free for the first 3 years.||
|Public Islamic Bank Visa Platinum-i
||Free for the first year, and when you swipe 12 times for the subsequent years.||
|RHB Shell Visa Credit Card
||Free for the first year, and when you swipe a minimum of 24 times for the subsequent years.||
|Standard Chartered Smart Credit Card||Free for the first year, and when you spend RM12,000 annually for the subsequent years.||
|UOB EVOL Card||Free for the first year, and when you make 1 retail transaction with no minimum spend, per month.||
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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