LATEST UPDATE: Interest rates/fees increased to 18% on outstanding balance (for most banks)

Proceed from v16: http://forum.lowyat.net/topic/2002679

**Those wishing to get an agent to assist with your credit card application please post your request at the service noticeboard section as this section is about discussion on credit card issues and not for promoting or seeking agent.

Knowing your cards http://www.bankinginfo.com.my
1. Visa
2. Mastercard
3. JCB
4. AMEX - Charge or Credit Card
5. Diners Club
6. China Union Pay (中国银联)
7. Etc.

1. Annual fee
Annual fee free credit cards :
- CIMB Direct Access
- CIMB Bank
- American Express Green charge card & American Express Gold credit card
- Public Bank (**minimum swipes apply)
- Alliance Bank (**minimum swipes apply)
- UOB Bank (**minimum swipes apply)
- Maybank (**certain cards only)
- EON Bank (**minimum swipes apply)
- Citibank Choice (**minimum swipes apply)
- Hong Leong Bank Essential VISA (**swipe at least twice a month OR spend RM8,000/year)
- AmBank (**certain cards only)
- OCBC (**minimum swipes apply)

2. Credit cards payment methods - http://forum.lowyat.net/topic/1802980

3. Tap and Go Cards - no signature required


4. Credit Card linked to Petrol
- OCBC Titanium MasterCard; all petrol stations = 5% cash back
- Citibank Cash Back VISA Platinum; all petrol stations = 5% cash back
- UOB; BHP Petrol = 2% cash back (UOB One only), 1% cash back (others)
- Citibank; SHELL (This only applicable for Citibank Shell, Citibank Cashback Plat applies to all petrol stations)
- Maybank/Maybank Islamic; PETRONAS = 5x Treatpoints
- CIMB Bank/CIMB Islamic; PETRONAS = 2% cash back
- Public Bank ESSO/Mobil VISA; ESSO/MOBIL = 0.5 - 5% (tier-based)
- RHB Travel Money; all petrol stations = 2% cash back (5% cash back every first weekend)
- AMBank Carz; all petrol stations = 2% cash back (3% for Gold and 5% for Platinum, provided there is an outstanding)
**All range of American Express charge & credit cards give 2x MR/TP on petrol purchases whilst AMEX Gold credit card and Maybankard 2 AMEX give 5x MR/TP. This applies to all petrol brands.
For more info on pumping petrol using cards, please refer to this thread: http://forum.lowyat.net/topic/1798403

5. Standard financial charge (interest rate)
Tier 1; 13.5% p.a.
Tier 2; 16% p.a.
Tier 3; 17.5% p.a.
Cash advance: 18% p.a from the date of withdrawal + 5% advance cash withdrawal fees
Late payment: 1% of outstanding or RM 5 whichever is higher.
Minimum payment amount: 5% of outstanding or RM 25/RM 50 whichever is higher.
Sample calculator can be found here
Sample calculator from AKPK

6. Complimentary Cards
1) HSBC Premier - deposit and maintain RM200k
2) Citibank Citigold - deposit and maintain RM200k
3) Standard Chartered Priority Banking - deposit and maintain RM250k
4) UOB Privilege Banking - Opening deposit of RM300k with maintenance of RM200k
5) OCBC Premier Banking - Opening deposit of RM300k with maintenance of RM200k
6) CIMB Bank Preferred Banking - deposit and maintain RM200k
7) Hong Leong Bank Priority Banking - deposit and maintain RM200k
8) Alliance Bank Privilege Banking - deposit and maintain RM200k
9) RHB Bank Premier Banking - deposit and maintain RM200k
10) Public Bank Red Carpet Banking - deposit and maintain RM500k or a Mutual Gold customer with a total combined deposits of RM200k in savings/current/fixed deposits.

7. American Express - http://forum.lowyat.net/topic/1724607

8. International Transactions - http://forum.lowyat.net/topic/1845691

9. Credit Card Cancellation - http://forum.lowyat.net/topic/1814307

10. Cash Advance fees


11. Verified by Visa and Mastercard Securecode
Verified by Visa ---> http://www.visa-asia.com/ap/sea/merchants/...vbv_intro.shtml
Participating banks :

MasterCard SecureCode ---> http://www.mastercard.com/au/personal/en/c...code/index.html
Participating banks :


12. Balance Transfer - http://forum.lowyat.net/topic/2275275

13. RM50 Government Service Tax - Currently STILL IN FORCE
With effect from 1 January 2010, there will be service tax imposed on credit card as follows :
i. RM50 per annum on each Principal Card; and
ii. RM25 per annum on each Supplementary Card
The service tax will be collected on the date the card is issued, or on the completion of each year or on the date of renewal of the card (except HSBC which will be billed 1 month later). This means that the above mentioned service tax shall be levied on new credit card issued effective from 1 January 2010. For existing credit cards issued before 1 January 2010, the service tax shall be levied upon anniversary of card issuance.


14. Airport Lounge Access - http://forum.lowyat.net/topic/1791878

15. Previous versions


16. Useful information
BNM issued guidelines in 2003 that limits consumer liability in cases of fraud to only RM250. See the actual document here. (Courtesy of tishaban) (thanks awaynoway for the updated link)

Credit information:
CCRIS: http://creditbureau.bnm.gov.my/
CCRIS report - go to Bank Negara yourself and use self-service terminal to get report with MyKard (you need to go as need thumb print).
CTOS: http://www.ctos.com.my/
BRIS: http://bris.com.my/index.html

Swipe Smart with 6E:
http://www.abm.org.my/Swipe_Smart_with_6E_...ffectively.aspx

17. FMB - Financial Mediation Bureau
http://www.fmb.org.my/index.htm

18. AKPK
- An agency set up to provide financial education, financial counseling and debt management
http://www.akpk.org.my/Home/tabid/36/Default.aspx

Link to AKPK thread : http://forum.lowyat.net/topic/876712

19. Other Links By Users
A blog about credit cards by Gen-X; My Credit Cards
Credit card tutorial by Gen-X
Free financial tuition by Gen-X

20. Credit Card/Charge Card Reward Points
Validity of numerous credit card/charge card reward points
1) HSBC - up to 3 years
2) Citibank - reward points are evergreen
3) Maybank - 3 years (effective from 1st August 2013)
4) CIMB Bank - 3 years
5) Alliance Bank - reward points are evergreen
6) Standard Chartered - Pending reward system update
7) American Express - Membership Rewards Points are evergreen
8) Hong Leong Bank - up to 3 years
9) AmBank - up to 3 years
10) RHB Bank - 3 years for Platinum and 2 years for all cards ranked lower than Platinum
11) UOB - 3 years
12) EON Bank - 3 years

21. Premium Credit Cards and its requirements
1) CIMB & DA World Mastercard/Visa Infinite - Min Income Requirement : RM 200k
2) CIMB Enrich World Mastercard - Strictly by Invitation (those with card usage above RM 500k per annum may be considered)
3) CIMB VISA Signature - Min Income Requirement : RM100k
4) Maybank World Mastercard - Min Income Requirement : RM 240k
5) Maybank Visa Infinite - Min Income Requirement : RM 240k
6) MBF World Mastercard - Min Income Requirement : RM 200k (By Invitation)
7) Standard Chartered Visa Infinite - Only for Priority Banking customer (RM 250k in deposits)
8) RHB Visa Infinite - Strictly by Invitation Only
9) HSBC Premier Mastercard - Only for HSBC Premier customer (RM 200k in deposits)
10) HONG LEONG Bank VISA Signature - Min Income Requirement : RM180k

22. Best Credit Cards and its categories - Click on ME
Please note these are just recommendations based on normal spending. High spending or specific usage individuals might want to look at other cards.
1) Classic Card = Hong Leong Essential
2) Gold Card = Alliance Younique / Maybankard 2 AMEX Gold
3) Titanium Card = OCBC Titanium
4) Platinum Card = Alliance Platinum / Citibank Cash Back Platinum / AMEX Platinum Charge Card (assuming AF is waiveable) / Maybankard 2 AMEX Platinum
5) Visa Signature = EON VS
6) World MasterCard = Maybank WMC (assuming AF is waiveable)
7) For 1st time CC applicants with Degree: DA (Direct Access @ CIMB)
Looking for recommendations? Please refer to this thread: http://forum.lowyat.net/topic/1792023

23. Credit Cards with Complimentary Travel & Accident Insurance
1) All HSBC/HSBC Amanah credit cards
2) All Citibank credit cards (except all co-brand cards, cash back)
3) All Public Bank generic credit cards
4) All Maybank generic credit cards
5) All AMEX charge card & AMEX Platinum credit card
6) All EON Bank credit cards
7) Alliance Bank Platinum

24. OCBC Titanium Credit Card rebates - http://forum.lowyat.net/topic/1791215

25. Reload Touch n Go using credit cards - http://forum.lowyat.net/topic/1803385

26. Measures on Credit Cards by Bank Negara - http://forum.lowyat.net/topic/1796957

27. Beware of cross border charges by HLB, CIMB and SCB - http://forum.lowyat.net/topic/2519936
Sample case: Apple Store Malaysia by rickkywong using HLB credit card; wshoh using CIMB

Confirmed no cross border charges: Ambank (by rickkywong)

This post has been edited by alexwsk: Oct 8 2013, 07:25 PM

FAQ

1. Can I apply new credit cards using existing credit card which is more than one year?
NO

1. Can I apply new credit cards by pledging Fixed Deposit?
Depends on individual banks, some will accept and some will not

This post has been edited by alexwsk: Jul 2 2012, 11:20 PM

Links by Gen-X, for your reading pleasure
Click here to read my article titled The Best Credit Card for FREE Entry to Airport Lounge 2013.
Credit card tutorial by Gen-X
Free financial tuition by Gen-X


How does credit card works?

Courtesy of iMoney.my

This post has been edited by alexwsk: Oct 8 2013, 07:26 PM

Just posted today my latest article about my wife's and my Standard Chartered Visa Infinite. Click below link to read how I got it and let it go but SCB reissued a new one to my wife.

Standard Chartered Visa Infinite

Also posted this morning HSBC hiking Outstanding Balance Interest Rate 15 March 2012.

And for those who missed my article on Hong Leong Bank Visa Signature posted last week, check it out as the annual income requirement have been reduced from RM180K to RM80K!

Hong Leong Bank Visa Signature - The Best Visa Signature?

For more of my articles on specific credit cards, please click below:

Citibank PremierMiles Visa Signature and Platinum credit cards.

Hong Leong Bank Fortune Visa Cash Back credit card.

HSBC Premier World MasterCard and Visa Signature.

Maybank Visa Infinite - The Best Credit Card for Overseas?

Click here to read my article titled - The Best Credit Card in Malaysia - Is There Really One?


Click here for Credit Cards Customer Service Contact Numbers.

For your own good, you must click here and read this article on Credit Card Fraudulent Charges and SMS Alert.

If you are new to credit cards, Click here to read my article Credit Cards are Cash Cow for Banks. Are You Working for the Banks?

This post has been edited by Gen-X: Oct 17 2013, 11:04 AM

Wow, someone's sure into self-promotion today!

Do take some time reading the write-ups and you will understand their values. They have been very beneficial to many readers in this cc section

This post has been edited by Human Nature: Feb 28 2012, 12:34 AM

might want to make note of the inpending interest rates and fees changes

looks like banks will have a free hand to set the interest rates they want
http://www.hsbc.com.my/1/PA_1_1_S5/content...rges_notice.pdf

its good actually to kerb user from late payments

Looks like rates are coming back to its original levels a few years back.
1.5% per month or 18% per annum.

It's either BNM relaxing the ruling or perhaps the ruling is actually a guideline (from BNM) to the banks.

I doubt banks can simply adjust without approval from BNM.

I'm thinking of applying the Hong Leong Visa Signature since they lowered the income requirement to 80k. How much is their annual fee by the way? I can't seem to find at their website.

Also there's no option to apply for this card online Need to walk-in?

The HLB VS annual fee is RM800. First year free. Posted it in my table for Premier Credit Cards.

To ALL: I am so freaking mad with UOB for changing the automatic annual fee waiver to 60 swipes. Click on below link to read my article about me and my UOB non-Preferred Plat.

UOB Credit Cards - Why You Force Me To Beg You?

**Edited**
To get auto annual fee waiver:

Classic Card Minimum 60 swipes per year. No minimum for any single month.
Plat cards Minimum 1 swipe per month and total 60 swipes/year.

This post has been edited by Gen-X: Feb 29 2012, 05:43 PM

Guideline allows max 18% for those that missed more than twice. That's why most banks opted to go to the max.
I think Citi still sticks with 17.5%.

This post has been edited by b00n: Mar 2 2012, 01:25 AM

Just published the first article of my 3 part series on Credit Cards for Beginners. Freaking long post, hahaha. Since it is FREE tuition, don't expect it to be perfect. But with you guys pointing out the errors, it can be perfect

CC101 - Introduction to Credit Cards 2012

some bad experience with HLB to be share with others....

recently, i browse through online for Malaysia Apple Store and made some online transaction in RM4398 (invoice also in RM4398 but address is in Singapore) and paid by using HLB mastercard. However, when i got the statement HLB charged me xtra 0.8% = RM35.18 for performing an oversea online transaction.

FYI, within 2 months time, i did also perform the exact same transaction with the same amount but paid with different card from OCBC, Alliance Bank, UOB and MBB and these banks didn't charge me any xtra charges.

i did call to HLB and explain that i paid in RM during online, the invoice i got also in RM and they shouldn't charge me xtra for that...anyhow, they said this is their bank policy and nothing that they can do....

so, guys. please becareful when performing online transaction and choose the right card when making your payment...

Evn CIMB also charge Cross-Border charge for using thier CC at Apple Store.
Blame Apple Store Malaysia !!!

This post has been edited by ronnie: Mar 2 2012, 01:38 PM

thanks for sharing...
i almost wanted to use my CIMB card tp perform the same transaction.
which are the banks also doing the same? please share...

Seems this (Cross-Border charge) problem only applicable to CIMB & HLB credit cards.
Apple Store Malaysia execute their payment via SG and likely to use a SG based bank & gateway - as far as they are concerned they instructed the bank to charge in the exact amount due in MYR. They have no knowledge of any additional charge (if any) that the other bank will charge to the users. And this transaction (and if any other charge) is passed on to the respective bank that the cardholders holds.

Disputing the charge would not help as CIMB or HLB would explain the cross-border charges to the user and cancel the dispute. I know coz I have done it before a few years back.

I wouldn't exactly blame Apple Store Malaysia as the problem is localized only to when users using HLB and CIMB cards. The best we can do is to advise our readers in here.

P/S : Can TS update the 1st post to reflect Cross-Border charge problem if it is not stated already?

This post has been edited by hye: Mar 2 2012, 06:25 PM

now that you've mentioned it, i recalled SCB charged me extra as well for payment to streetdeal.my through paypal

updated 1st post

My SCB online transactions through PayPal always trigger additional fee of 0.8%. My latest transaction via PayPal is Standard Chartered KL Marathon.