Info for credit card newbies:

1. Minimum income requirement to qualify for a credit card is RM24,000 per annum (effective from 18th March 2011). You must be able to submit proof of your income.

2. Minimum age to qualify for a Principal credit card : 21 years old. Supplementary cardholders: at least 18 years old.

If you do not/cannot meet the above requirements, then you are not qualified for a credit card. You still can go get a debit card and enjoy the convenient similar to a credit card.

3. If you are a foreigner or your income is from overseas (e.g. you work in Singapore), please refer directly with the bank if you are eligible for their credit cards

4. There is no such thing as the best credit card, it depends on your needs and each card has its own benefits.

5. For those earning less than RM36K, your credit limit should be 2X your monthly income in accordance to BNM guidelines. For those earning more than RM36K, the credit limit assigned to you is entirely up to the bank. With BNM latest guidelines, banks are no longer allowed to increase a cardholder's credit limit without his/her consent.

6. There is a Government Service Tax of RM50 for each Principal Credit Card. If you apply for a credit card and the moment it is approved, you are responsible for the RM50 GST. So make sure you want the card before applying for it.

7. And the only thing that is of importance regarding credit cards is - DO NOT do apply for a credit card if you have no cash or savings to pay for your transactions. Credit card interest rate is very high and many go bankrupt because they have no discipline in controlling their spending. Always settle credit card bills in full monthly, never say just once, if you don't have money today in the bank to pay your credit card bills, what makes you think you will have enough money tomorrow to pay your credit card bills? DON"T be a slave to the banks.

8. If you cannot afford to pay the RM50 GST, GO GET A DEBIT CARD!


When choosing a credit card, below are things to consider

1. Free Lifetime Annual Fee - if the card does not come with automatic annual fee waiver, e.g. 12 swipes per year, then you have to waste time requesting for annual fee waiver yearly.

2. What is the main purpose of you getting a credit card? - Petrol, Cash Back/Rebate Only, Overseas Transactions, Golf, Installment Plans, Airport Lounge etc. Do some homework and you shall benefit from using the right credit card instead of grumbling over the miserable RM50 GST.

3. Convenience in making payment. You are to make payment before the Due Date or else you may be imposed Late Penalty Fee and Interest Charges.


For Recommendation - please post according to format in Post#2 below.


Actions required after you get your first credit card.

1. Read the Terms and Conditions of your credit card.

2. CLICK HERE and read this thread so that you won't be conned.

3. Call Customer Service (number behind your card) and request that your credit card sms alert default value to be set to RM1. Click here to the relevant thread.

4. Click here to read my article Credit Card Fraud Calls and Banks Default Value for SMS Alert in order to reinforce into your head so that you won't be conned.


Gen-X's recommendation for those new to credit cards:

Annual Income RM24K/year to RM30K/year.

UOB One Card - good for Petrol as it earns you 5% cash back for all stations. However the cash back is capped at RM15/month, i.e. up to RM300 petrol. And if you pump at BHP, you get to earn SMART$ too PLUS BHP points.
Click here to UOB Thread for further info or click here to read my review of the UOB One Card.

MACH by HLB - from the very start you need to choose the right package based on your spending pattern. It earns you 10% cash back for movies or 5% cash back for dining.
Click here to MACH Thread for further info or click here to read my review of the MACH by Hong Leong Bank.

To see more credit cards where the eligible income starts at RM24K/year - click here to read my article on Entry Level Credit Cards.

Minimum Annual Income RM30K/year.

FREE FOR LIFE Maybankard 2 Cards. This is a combo package where you are issued an American Express and you can decide to partner it with either a Visa or MasterCard. The MBB 2 AMEX earns you 5X Treats Points everyday for any transactions which is like approximately 2.5% cash back when redeeming for cash vouchers AND best of all it also earns you 5% cash back on Saturdays and Sundays.
Click here to MBB 2 Cards V7 Thread for more info or click here to read my review of the Maybankard 2 Gold and Platinum Cards.

In my opinion, the Maybankard 2 AMEX is truly good for local transactions since we earn 5X Treats Points which are evergreen. For overseas, please bear in mind that the conversion rate is high (go read MBB 2 Thread Post#2 FAQ).

Note: if you can't wait tilll Saturday or Sunday to pump petrol, consider getting the UOB One Card. Also this free up the 5% cash back for the MBB2 AMEX on weekends for other types of expenses. And as of December 2012, Petronas stations accept AMEX


OTHER RELATED LINKS

If you are looking for Premier Credit Cards with good Enrich redemption and other goodies - click here to Maybank 2 Cards Premier Thread.

If you are looking for a credit card purely for petrol, go to Petrol Thread by clicking here.

If you are looking for a credit card for free access to KLIA and LCCT Plaza Premium airport lounge click here to that thread.

If you are into Enrich Miles for FREE air tickets, click here to Enrich Miles Thread and see which is the best card for converting points to Enrich Miles.

If you are looking for 0% Balance Transfer, click here to BT Thread. And if you are new to Balance Transfer, please click here to read my article Balance Transfer Plans - Facts You Need To Know before signing up for one.

If you are looking for cards that offers 0% installment plans, Maybank credit cards are accepted at many merchants where you can opt for Ezy Pay starting from 6 months and up to 36 months. However, once again, if you don't have savings please do not sign up for 0% Installment Plans because you will be in debt. And I advise you to go for shorter period. Click here to read my article 0% Installment Plans - It IS A Trap.

If you are only interested in cash back cards, click here to my Cash Back Credit Card Page at my blog where I have listed cards offering cash back and also a table comparing them.

If you are an Insurance Agent or spend up to RM5K per month at places that do not accept American Express, look into Alliance Platinum Credit Card where you can earn up to 2% cash back (approximately RM68/month with RM5K spending) PLUS reward points too.

And if you must know what is the best credit card for local and overseas transactions, click here to my article titled The Best Top 10 Credit Cards in Malaysia - Ultimate Showdown 2015.

Last but not least, if you are new to credit cards please visit my Credit Card Tutorial Page by clicking here. I have designed a series of articles for you, after completing the FREE tuition, you'll be an expert on credit cards


This post has been edited by Gen-X: Apr 11 2015, 11:10 AM

Please fill items below and then only post so that we are able to recommend you a credit card based on your needs and qualifications

1. Annual Income: RM24K to RM30K or RM30K to RM36K or RM36K to RM60K or RM60K to RM100K or RM100K to RM150K or RM180K and above or leave blank.

2. Free Lifetime Annual Fee: A Must or No only.

3. Card required for: List all your needs. Example Petrol, Education, Cash Back/Rebate Only, AirMiles, Overseas Transactions, Free LCCT Lounge Access , Golf, etc or Don't Know.

4. Existing credit cards if any: List them or Nil.

5. Looking at CC from: Citibank - Premier Miles

6. Others: Please be specific. Example: I am a foreigner or I only want to pay amount due with my M2U online savings account or I want cash back only and no reward points.

By filling up the above, then others can make suggestion based on your needs. Actually, if you list out item 3, you yourself would most probably have answered your question above.

This post has been edited by Gen-X: Oct 1 2013, 08:38 PM

Looking for Cash Back Credit Cards between RM1K/month spending and up to RM7K/month spending, click here and read my article The Best Cash Back Credit Cards.



If you are looking for a credit card to earn Enrich Miles, click here to my Comprehensive Tutorial on The Best Credit Cards To Earn Frequent Flyer Miles. In this tutorial, you will be taught what cards to get, quickest way to redeem a FREE Business Class ticket, it may not be worth while to redeem for a Economy Class ticket and much more.



This post has been edited by Gen-X: Apr 11 2015, 11:00 AM

1. Annual Income: RM30K to RM60K

2. Free Lifetime Annual Fee: A Must

3. Card required for: cash back or good reward points on groceries, bills

4. Existing credit cards if any: Nil

5. Looking at CC from: Nil

6. Others: Need it urgently as will be going singapore on next week. Currently only have 2 months payslip

Thank you!

I'd like to extend my thanks to all the contributors of V1 and now we are at V2. I know there is a lot of goodwill and efforts that have been put in place and I'd like to say that myself (and the MODS) appreciate it.

Just a friendly reminder to our readers posting their questions here to follow the format given and not to treat here like a Kopitiam thread. The guideline are provided to provide ease of use, understanding and consistency in our answers to help you.

All the efforts here are on voluntary basis and the best way to appreciate the folks here is to at least follow the format and guidelines given. It is not too much to ask and I hope to receive nothing less our readers cooperation on the subject matter.

Thank you, hye

This post has been edited by hye: Oct 1 2013, 09:47 PM

Not sure whether your variable income is 30k basic + 30k variable commission. However I would recommend OCBC Titanium. It covers "cash back or good reward points on groceries, bills" and has promotions in SG.

Challenge is getting by next week

Else go for 1h approval MBB2 cards.

For more information about OCBC cc, u can refer as per link as well

https://forum.lowyat.net/topic/2703542

Thanks for the advice but because I need it urgently.. I went to Maybank Card Centre and got my card within 1 hr. Superb service!

Called OCBC and they told me will need 2 weeks for the card to be issued

This post has been edited by mashimoro85: Oct 2 2013, 09:35 PM

1. Annual Income: RM24K to RM30K

2. Free Lifetime Annual Fee: A Must

3. Card required for: List all your needs. Petrol, insurance, bills

4. Existing credit cards if any: Pbb master card

5. Looking at CC from: open at the moment
6. Others: I want cash back and rewards points (looking for more dining promotions and epp)

Wah, you want both cash back AND reward points

If your annual income requirement is RM30K, go get the Maybankard 2 Cards and earn yourself both cash back and Treats Points for Petrol. Not many insurance company accept AMEX (some reported AIA now does) but you can still use the Visa or MasterCard and earn Treats Points. Click here to Maybankard 2 Cards thread or clcik here to read my review of the Maybankard 2 Cards.

If your income is no where near RM30K/year, there is still a card that earns you 5% Cash Back for petrol - it is the UOB One Card. Click here to UOB credit card thread, and or click here to my Credit Card Cash Back Page at my blog to see comparison.

Now, if you pump petrol at least 10 times a month and each time it cost more than RM50, click here to HLB Wise Credit Card thread and see how you can earn 10% cash back.

I would like to apply a credit card.
I have 2 options in my hand now, either CIMB Credit Card or RHB Credit Card.
I choose among this 2 because my payslip is debited into this account whilst, I have hire purchase account with RHB Bank.
Hence, it might helpful in easy approval.

The problem now is, I not sure which one is the best.
On top of that, I need the card for fitness center usage only, or maybe in some restaurants.

Can you assist me on this matter please?

Thanks in advance.

RHB and CIMB got alot of types of credit card.

Go here : http://www.imoney.my/credit-card to compare other banks credit card. U can select the CC u prefer depends on which one u want. Example, I want petrol benefit. The website will show you a list of credit card that gives petrol benefit, from the best rates to the lowest for you to do a comparison.

Thank you.

1. Annual Income: RM36k

2. Free Lifetime Annual Fee: Prefer can waive by swiping

3. Card required for: Petrol, Cash Back/Rebate, utilities, Rewards, Movie.

4. Existing credit cards if any: Nil.

Thinking of the UOB one card, citi clear card, citi cash rebate.

For Your Credit Card Recommendation pls Refer to: https://forum.lowyat.net/topic/1973206/+2200 MyPost 2209-10
FYI, Maybank 2Cards & OCBC Titanium were Best Combo ..., If Compare with UOB One Card or Citibank Clear Card
You can get Details from My Post 2209-10

This post has been edited by fly126: Oct 15 2013, 10:36 PM

Bro,

for cash rebate and reward points

1) Maybankard 2 Cards

a) It is FREE For Life

b) The Maybankard 2 Cards AMEX earns you 5% cash back (on Saturday and Sunday) PLUS 5X Treat Points everyday.

c) good if you can wait until Saturday and Sunday to perform transactions with your card.

d) cash back is capped at RM50/month, i.e. you earn 5% cash back up to RM1K spending on weekends in a month and after that still earn the 5X TP

Click here to Maybankard 2 Cards Thread or click here to my Maybankard 2 Cards review.

2) OCBC Titanium MasterCard

a) Annual Fee waived with 12 swipes.

b) You earn 5% cash back everyday for Petrol, Dining, Groceries, Telco and Utilities.

c) cash back also capped at RM50/month, i.e. after spending RM1K on the 5% cash back categories, you won't get a sen more in cash back.

Click here to OCBC Titanium MasterCard thread to see where you can earn 5% cash back.

Noted one of your requirement is Movie and I guess that is why you looking at the Citi Clear Card. If you do go to movie on Fridays with a partner where you get 1 for 1 free ticket at GSC, TGV and Cathay, this card is excellent. If you only go like once a month to the movie on Friday, then you should go and calculate how much you can save and then deduct the annual fee of RM90 and RM50GST to come out with the effective savings. If you don't go to the movie on Fridays, you still get discounted ticket at TGV but you got to go many times just to break even with the annual fee. Now if you go with your partner to Coffee Bean Mon-Fri, this card is good too, but then again, you got to drink lots of coffee to break even the annual fee once again, hahahaha. First year annual fee is waived and you can always decide on the 11th month if the Citi Clear Card benefited you, if no cancel it before the 12th month (before card anniversary) to avoid paying GST.

Since your annual income is RM36K, you can only apply with 2 card issuers in accordance to BNM guidelines.

So, my recommendation is,

1) OCBC TMC and MBB 2 Cards if you want cash back only.

2) OCBC TMC or MBB 2 Cards if you want cash back + Citibank Clar Card for FREE 1 for 1 movie ticket.

This post has been edited by Gen-X: Oct 16 2013, 10:43 AM

1. Annual Income: RM80,000

2. Free Lifetime Annual Fee: No.

3. Card required for:Usual petrol and bills autopay

4. Existing credit cards if any: Nil.

5. Looking at CC from: NIL

6. Others: I am looking for cards that give interest free period for certain number of month for new approval/card. From my reading in this forum i got to know that previously RHB had 6 month interest free for promotion. So i am looking for cards/banks that give such promotion.

For Petrol and Auto Debit, click here to learn more about OCBC Titanium MasterCard and click here to learn more about the Maybankard 2 Cards.

As for you wanting interest free period for new card - check out Alliance Bank Platinum credit card where it offers 0% for 1st 3 months and Mach by Hong Leong Bank too.

Just a word of caution to those thinking of signing up for a new card offering 0% for the first few months. It can be a very dangerous tool if one does not have money in the bank to pay off his/her transactions. After the promotional period, if one is unable to settle the Outstanding Balance in full, he/she will be imposed 18% interest rate. Also this kind of promos is designed to entice one to spend beyond his/her means.

This post has been edited by Gen-X: Oct 17 2013, 04:19 PM

Hi guys,
I would like to get a credit card for my parents usage, for petrol and groceries mainly.
I dont intend to register their name as they are quite resisted so I cant get them a supplementary card. if i am giving them my existing cc they cant use it too due to signature and not legit.
Debit card got limit to spend depends on my saving inside that account but I dont want to set the limit for them.
So any card recommended? I cant think of any.

Firstly, you are required to post in accordance to the format, having said that, I guess you can't, hahaha

Wah, this is like a riddle,

You want credit card for your parents but

1. Cannot give them supp from your account because they won't permit you to apply using their names.
2. Cannot give them your card - this is a foregone conclusion.

Plus another condition 3. No Debit Card.

So option is - give them supp card and register under a nickname, e.g. Roberto Yu for your dad and Kardashian Yu for mummy

The way I see it, your dad and mum do not want the hassle of holding any credit cards for security reasons. And it is hard to impose your wish onto them. So let it be and give them CASH.

This post has been edited by Gen-X: Oct 22 2013, 10:21 AM