Best Mastercard Platinum Credit Cards in Malaysia 2021

Your passport to premium privileges. The Platinum Mastercard saves a fortune with great cashback and amazing rewards.

Platinum Mastercard gives you a ticket to life’s pleasures

When we talk about life’s pleasures, one can have many different ideas on what gives them happiness. Even the simplest pleasures like taking a jog at the park, reading a favourite book or sipping coffee first thing in the morning can bring us joy.

But wouldn’t you agree that everything that can make us happy or content, involves money? Researchers say: money is unlikely to buy happiness, but it may help you achieve happiness to an extent. With Platinum Mastercard, you can easily do so with its great benefits that are loaded in a plastic card.

Tell me more about Platinum Mastercard

Platinum cards are typically designed or targeted for middle to high-income earners. A platinum credit card gives you a high spending power that you cannot get in gold or basic credit card. Paired up with Mastercard -- one of the largest payment networks in the world, you’ll get yourself not just worldwide acceptance, but also an extensive rewards program, plus unrivalled travel and lifestyle privileges.

Now, this thought must have crossed your mind: with high purchasing power, comes a high annual fee. Yes, that’s partly true. Some of the Platinum Mastercards in the Malaysian market do come with a high annual fee ranging from RM250 to a whooping RM600 per year and this may not be favourable to some. But did you know that you can still find and own a platinum credit card with an annual fee as low as RM70 and better yet, free for life?

It’s like killing two birds with one stone: not only you get to save money by not paying hefty annual fees for life, but you still get to enjoy enticing benefits that platinum credit cards have to offer, which is on par with platinum cards that come with expensive annual fees.

Take the Citibank Simplicity Mastercard for example, this platinum credit card gives you 10% cashback when you pay the minimum monthly due amount every month without missing. Not only that, but the said 10% cashback is also applicable when you are out shopping -- uncapped and with no minimum purchase. Already maximised your credit limit? No worries, even applying for a cash advance can get you unlimited cashback.

Are you intrigued yet? This is just one Platinum Mastercard example, we haven’t listed out the rest yet. But before we jump into that, let’s first get you familiar with the prime features you normally get with a Platinum Mastercard.

Features that you may get to enjoy with a Platinum Mastercard

Most Platinum Mastercards offer premium services or features that are useful depending on your unique lifestyle. But more often than not, cardholders are unaware of the benefits that they get with their platinum credit cards. Many, for example, buy a separate travel insurance policy when they go abroad, not realising their platinum cards offer a level of coverage as well. So before you go “I should’ve studied more on the features”, check out these prime features of a Platinum Mastercard.

Cashback

Cashback or also known as cash rebate is one of the most eye-catching features of a credit card. Cashback quite literally means you earn back a certain amount of cash for all the expenditures that you have made in a month. Some of the most common categories eligible for cashback are online shopping, petrol, e-wallet reload, dining, groceries, auto-bill payments, just to name a few.

However, you should note that not all categories are eligible for cashback because different banks offer different cashback categories. That’s not all, these variety of categories also have different cashback rates, monthly cap and spending requirements.

For you to get the idea, let’s compare the CIMB Cash Rebate Platinum Mastercard and Standard Chartered JustOne Platinum Mastercard:


Category Cashback Rates Monthly Cap Spending Requirements
CIMB Cash Rebate Platinum Mastercard Online spend 0.2% Uncapped Any amount
Standard Chartered JustOne Platinum Mastercard 15% RM60 From RM2,500 and above every month

As you can see, these two platinum credit cards offer different cashback rates, monthly cap and spending requirements over the same category: online spend. While you may not get much cashback for online spend out of the CIMB Cash Rebate Platinum Mastercard, it is not the case if you spend on other cashback categories as offered by the card.

So when you are thinking of owning a Platinum Mastercard, it is best to consider the cashback feature as it can save you plenty of money. Most importantly, get you a platinum credit card that rewards you with cashback on the things that you spend the most on every month.

Reward points

A credit card that gives out reward points is also one of the many features that people seek out in a credit card. With this feature, you get to collect points for every Ringgit you spent with participating merchants as offered by your card issuer. Usually, these reward points are tiered and once you have accumulated enough points, you can use them to redeem your choice of gift from the bank’s credit card rewards catalogue.

So, how do you choose the perfect Platinum Mastercard credit card for reward points collection? For instance, say that for every RM1 that you spend, you get to earn 1 Reward Point. That’s not too shabby if you’re a big spender. But, wouldn’t it be better if you can collect more points instead?

Let’s take the Citi Rewards Mastercard as an example. This Platinum Mastercard offers you as much as 5x Citi Rewards points on every RM1 spent on overseas retail purchases and 5x Citi Rewards points on every RM1 spent on selected local departmental stores and supermarkets. On the other hand, you can get 4x Reward Points on every RM1 spent overseas and only 2x Reward Points on every RM1 spent on retail shopping with the RHB Rewards Mastercard.

Another pointer that you should take into consideration is the reward points redemption expiration date. Yes, the reward points do expire and the maximum years that you get to redeem your accumulated points are 3 years. A good practice is to keep a tab on the bank’s reward points catalogue so that you can easily redeem your points whenever possible.

Travel insurance / Takaful coverage

Travelling is indeed exciting, but what makes it less exciting is when you lose your luggage at the airport or when your flight gets delayed without proper announcement. These are some of the common travel inconveniences that most of us have experienced and it can get on our nerves especially when we don’t have any travel insurance to back us up.

Besides signing up from a local insurance company, did you know that you can get a complimentary travel insurance coverage granted that you charged your full fare air ticket(s) to your Platinum Mastercard? This benefit, however, does not come with all Platinum Mastercards.

An example of a Platinum Mastercard credit card that offers travel insurance benefits is the Citi PremierMiles Mastercard. This prestige platinum credit card will cover your travel inconveniences of up to RM12,000 and a personal accident coverage of up to RM300,000.

So if you’re someone that flies frequently, be sure to check whether the Platinum Mastercard that you would like to apply for offers this travel insurance or Takaful coverage. It would surely highlight your trip even more knowing that you’re well covered!

Airport lounge access

Long layovers can be uncomfortable and annoying when you’re waiting for hours at the concourse area. With the hustle and bustle, the seats cold as ice, the central air-conditioning system seems to be in full blast; nothing can be more enticing than getting the chance to unwind at the private airport lounge area when facing annoyances like these.

The airport lounge is a restricted waiting area that normally the high-flyers with first or business class tickets can access. These lounges are not only comfortable, but a person can enjoy their privacy leisurely without disturbance. Plus, there are other amenities that you may get to use as well such as the Wi-Fi, charging ports, reading materials, suite room, shower room and so much more.

So for the rest of us who are not high-flyers, you can gain access to airport lounges by paying the entry fee. For instance, the klia2 Plaza Premium Lounge has a Lounge Use Package whereby you will be charged an amount for the offered hours you can spend in the lounge area: 2 hours for RM168, 5 hours for RM238 and 10 hours for RM258. Not everyone can afford it, but why pay when you can access to the premium lounge for free with a Platinum Mastercard?

Let’s take the AEON Platinum Mastercard for example. Every year, you will get 6x complimentary access to the Plaza Premium Lounge. On the other hand, the RHB Platinum Business Mastercard offers 5x complimentary access to the said lounge to its principal cardholder, while the accompanying guests get a 25% discount. Not to mention, 20% off on lounges around the world too!

Being an avid traveller, it is always nice to have free access to airport lounges. So why not get a Platinum Mastercard to accompany you when you’re experiencing the world?

Which is the best Platinum Mastercard for me?

Now that we have laid out the awesome features that you can expect from a platinum credit card, it is time to choose the ultimate Platinum Mastercard just for you. Doesn’t matter where your interest lies, there is always something that a platinum card can offer you. Plus, to help you decide better, check out these platinum credit card comparisons that we have prepared for you:

Top Platinum Mastercard Credit Card for Cashback

Platinum Mastercard gives you a ticket to life’s pleasures

Standard Chartered JustOne Platinum Mastercard

Citi Cash Back Platinum Mastercard

AEON Platinum Mastercard
Highest cashback rate 15% 10% 5%
Highest cashback amount RM60 RM15 RM100
Min. spend to earn the highest cashback RM2,500 monthly RM1,500 monthly Any amount monthly
Eligible spend to earn the highest cashback Auto-bill payments, online purchases and petrol Petrol, groceries, dining and Grab AEON and AEON BiG Thank You Day, every 20th and 28th day of the month respectively
Eligible cardholder(s) Principal and Supplementary Principal and Supplementary Principal and Supplementary
Annual fees RM250 for primary card. First year free for new applicants.

Free for supplementary cards.
RM195 for primary card. First 3 years free for new applicants.

RM100 for supplementary cards.
RM200 primary card. First year free.

RM100 for supplementary cards.

Top Platinum Mastercard Credit Card for Reward Points Collection

Lazada Citi Platinum

Alliance Bank Mastercard Platinum

HSBC Platinum Credit Card
Highest reward points 10x Citi Rewards Points for every RM1 spent 3x Timeless Bonus Points for every RM1 spent 8x Reward Points for every RM1 spent
Max. spend to earn the highest reward points RM500, cumulative per statement month Uncapped Uncapped
Eligible spend to earn the highest reward points Lazada spends and Lazada Wallet reload All overseas retail spending Contactless spend
Reward points redemption expiration 3 years No expiry 3 years
Eligible cardholder(s) Principal and Supplementary Principal and Supplementary Principal and Supplementary
Annual fees RM100 primary card. First 3 years free. Waived when spend min. RM15,000 for subsequent years.

RM70 supplementary card.
RM438 primary card. First year free. Waived when spend RM5,000 or swipe 12 times per year.

Free for supplementary card.
RM240 primary card.

RM120 for supplementary card.

Top Platinum Mastercard Credit Card for Travel

Travel Coverage Airport Lounge Access Annual Fees

Citi PremierMiles Mastercard
Personal accident: up to RM300,000

Delayed flight: up to RM2,500

Missed flight: up to RM2,500

Lost luggage: up to RM12,000

Delayed luggage: up to RM2,500
8x complimentary access to Plaza Premium Lounges in Malaysia,
Hong Kong, Taiwan, Macau, China, Canada, Cambodia, UAE
and Indonesia.
RM600 primary card. First 3 years free for new cardholders.

Free for supplementary cards.

RHB Platinum Business Mastercard
Travel insurance: up to RM600,000

Delayed flight: up to RM500

Missed flight: up to RM500

Lost luggage: up to RM1,000

Delayed luggage: up to RM500
5x complimentary access to Plaza Premium Lounge
in Malaysia and accompanying guests get 25% off.

20% off on lounges around the world.
Free for life

Public Islamic Bank Mastercard Platinum Credit Card-i
Travel insurance: up to RM500,000

Delayed flight: up to RM400

Missed flight: up to RM400

Lost luggage: RM1,000

Delayed luggage: RM400
2x complimentary access to Plaza Premium Lounge in Malaysia. RM333 primary card.First year free. Waived when swipe 12 times for the subsequent years.

RM150 for supplementary cards.

Being the unique individual that you are, owning a Platinum Mastercard credit card can surely elevate your lifestyle to the next level. But if a Platinum Mastercard is not for you, RinggitPlus have plenty of credit card selections that you can choose from: online shopping credit cards, VIP credit cards -- you name it, we have them listed out just for you.