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.

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.

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 and looking for cards to replace the once upon a time wonderful Maybankard 2 Cards AMEX:


Annual Income RM24K/year to RM30K/year.


UOB One Card:

Pros - good for Petrol as it earns you 2% and 5% cash back for all stations on weekdays and weekends respectively. 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.

Cons - No auto annual fee waiver (currently as of July 2015, first two years annual fee waiver). UOB revises the T&C of their credit cards very frequent.


CIMB Cash Rebate MasterCard:

Pros - FREE FOR LIFE, no whatsoever conditions. 5% cash back for Online Spending and 2% cash back for Petrol, Groceries and Utilities.

Cons - 0.2% cash back for other type of spending.


AEON Watami Visa:

Pros - 3% quarterly cash rebate on total retail transactions outside WATAMI with an accumulated spending of RM3,000 per quarter. Rebate is capped at RM150 per quarter. Annual fee waived with 12 swipes.

Cons - Petrol transactions are not eligible for the 3% cash back.

Click here to read my review of the AEON Watami Visa Credit Card.


Hong Leong Bank WISE Gold Visa:

Hong Leong Bank Wise Platinum Visa:

Pros - It earns you up to 10% cash back for Petrol, Groceries, Utilities and other categories.

Cons - The 10% cash back is only limited to 2 categories PLUS you must swipe a least 10 times where each swipe shall not be less than RM50. NO annual fee waiver.


Hong Leong Bank Essential Visa:

Pros - UNLIMITED 1% cash back. Annual fee auto waived with just 12 swipes.

Cons (contributed by zcs) - Petrol is not applicable for the 1% unlimited cashback. Besides that, minimum retail transaction of for this card in a month is RM100 in order to qualify for the cashback.


Minimum Annual Income RM30K/year.

Maybank Islamic MasterCard Ikhwan - for those who need a cash back credit card for Petrol and Groceries:

Pros - FREE FOR LIFE, no conditions whatsoever. You will earn 5% cash back for Petrol and Groceries every Friday and Saturday.

Cons - Supplementary cards are not entitled to the 5% cash back for Petrol and Groceries.

Click here to read my review of the Maybank Islamic MasterCard Ikhwan Gold and Platinum.


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:

Pros - FREE FOR LIFE, no conditions whatsoever. The MBB 2 AMEX earns you 5X Treats Points everyday for any transactions which is like approximately 1.25% cash back when redeeming for cash vouchers. You will get additional 5% cash back for Dining only (effective 1st August 2015) with the MBB 2 AMEX on Saturdays and Sundays.

Cons - The MBB 2 Visa or MasterCard only earns you 1X Treats Points.


Minimum Annual Income RM60K/year.

Hong Leong Bank Wise Platinum Visa:

Pros - It earns you up to 10% cash back for Petrol, Groceries, Utilities and other categories.

Cons - The 10% cash back is only limited to 2 categories PLUS you must swipe a least 10 times where each swipe shall not be less than RM50. NO annual fee waiver.



Premier Credit Cards - Annual Income RM100K/year and above.

If you are looking for a card that gives you 5% cash back for Petrol and Groceries PLUS FREE 5X entries to Plaza Premium Lounges nationwide without any conditions, click here to read my review of the Maybank Visa Signature.

If you want 6% cash back for Dining, Groceries and Online Transactions, click here to read my review of the Public Bank Visa Signature. The annual fee is auto waived with just 12 swipes! It will soon also gives you 3X FREE entries to Plaza Premium Lounges nationwide without any conditions.

Above recommendations were extracted from my post at my man blog, for more info on other credit or debit cards that may be of use to you, please click here to my Recommendation of Credit Cards at my main blog.

If you are looking for Premier Credit Cards with good Enrich Miles and Krisflyer redemption - click here to Enrich Miles Thread and click here to my Comprehensive Review of The Best Credit Cards for Redeeming Frequent Flyer Miles where I have a summary comparing more than 20 credit cards.

If you are looking for a credit card for free access to KLIA & KLIA2 Plaza Premium airport lounge and airport lounges worldwide click here to that thread.

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 only pump petrol at Petronas, go to CIMB and Maybank websites and check out their Petronas credit cards.

Last but not least - 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.


Click here to test drive my Maybank 3 Cards GTR. FREE FOR LIFE AMEX + Visa + MasterCard

This post has been edited by Gen-X: Jan 3 2016, 10:56 PM

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.


If you are really clueless on credit cards but at the same time want to own the Best Credit Card in Malaysia, click the link below and you'll be taught as to how you can optimize the returns from your credit card transactions by owning the best credit card to suit your spending pattern:


The Best Top 10 Credit Cards in Malaysia - Ultimate Showdown 2016



Want to know which credit card is the best for accumulating AirAsia Big Points? Click here and read my article The Best Credit Cards To Earn AirAsia Big Points and Fly For FREE.



Click here to my new Credit Card Tutorial 2016.

This post has been edited by Gen-X: Jan 8 2016, 11:19 AM

Very timely thread, bro Genx, with the recent spate of CB reduction.

Hey bro,

Thanks for the quick reply.

I was aware of the revocation of WISE gold card .. but somehow it's still available in product disclosure sheet on HLB website ..

I don't mind applying for another card for combo purpose ..

1. Annual Income: RM36K to RM60K

2. Free Lifetime Annual Fee: A Must (or any good benefits if got annual fee?)

3. Card required for: List all your needs (spending as below)
Petrol - 400 monthly - Petronas
Insurance - ( 150 Great Eastern + 1350/annum MLTT Hong Leong Assurance ) - paid by cash
Bike/Car Insurance - 400 + 500 + 250 - paid by cash
Utilities - 170 (unifi) , 40 (TNB) , (online)
Groceries - 100
TnG - 100 (auto reload via Zing )
Required : Cash Back/Rebate Only / unlimited cashback / good redemption items using points

4. Existing credit cards if any: Maybank2card (Visa + Amex)
5. Looking at CC from: Maybank (priority) / CIMB (salary) or any.

6. Others: currently all transcation made during weekends (petrol + utilities)

This post has been edited by xalim: Jul 11 2015, 04:06 AM

1. Annual Income: RM50K

2. Free Lifetime Annual Fee: Yes/auto-waive with minimal swipes

3. Card required for: List all your needs
Insurance - 150
Online purchases - 100-500
Unifi - 170
Groceries - 150
Weekday makan - 400
Weekend makan - 300
Touch & Go - 200

Priority on cashback

4. Existing credit cards if any: nope

5. Looking at CC from: unsure

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: RM36K to RM60K

2. Free Lifetime Annual Fee: No

3. Card required for: (Priority Wise) Petrol (I pump at Caltex only if it makes a difference) , Unifi and Phone Bill, Education, Food

4. Existing credit cards if any: Nil

5. Looking at CC from: None at the moment. I saw CIMB Cash back cards for 5% and 2%.

6. Others: I dont really mind about reward points but hopefully cash back should be able to get some instant cash back upon using.

This post has been edited by ToiletMaster: Jul 13 2015, 01:27 AM

I'm looking for 1% unlimited cash back credit card.

Any recommendations ?

Hlb essential
*proof me if I'm mistake

This post has been edited by warningo0o: Jul 13 2015, 08:27 AM

i am currently using CitiBank Business Platinum. 1% unlimited.

In fact I need higher credit limit with 1% cash back.

Dont think essential can give me over 30k

you may consider cimb cr or uob one

CIMB's 5% cash back on online transaction. But anyone knows what defines online transaction?

Airlines, insurance, utility and mobile bill are excluded yes, but anyone knows how to check what is included under POSMODE 81? Online movie tickets? Lazada?

Thanks.

Yes to booking gsc online. I haven't tried tgv so cant give a confirm yes... but it should be. And yes to lazada.

To your and others benefit, best you refer to cimb thread below. Alot alot of ppl asked about lazada... I consider anything bought online as falling under that category... one gotta try as I dont think the regulars here know what is posmode 81 anyway.

You might need to look at HLB essential, uob one/citibank cash back

You might need to look at cimb cash back or uob vox for online, mach card/hsbc amanah card for makan?

I'm looking for a card for my wife. I already have MBB 2 Cards and currently thinking if I should opt for a supplementary card or apply a new card.

1. Annual Income: Around RM48k (income of wife)

2. Free Lifetime Annual Fee: Yes!

3. Card required for:
- 70% Petrol
- 20% Touch N Go
- 10% Online Purchases

4. Existing credit cards if any: None. However, me (as her husband) is having MBB 2 Cards

5. Looking at CC from: Any

6. Others: None

Thanks!

This post has been edited by Nation of Sensation: Jul 15 2015, 07:05 AM

I am looking for CC, please advice (I am foreigner)

1. Annual Income: RM 74K

2. Free Lifetime Annual Fee: Yes/auto-waive with minimal swipes

3. Card required for: List all your needs
Groceries : 500
Utilities(water/electric/internet) : 250
Petrol : 300
Phone Bill : 150
etc : 300


4. Existing credit cards if any: nope

5. Looking at CC from: Maybank or will consider others depend on benefit given

1. Annual Income: Around RM24k

2. Free Lifetime Annual Fee: Yes/No (if no below rm150)

3. Card required for:
- Petrol
- Bills
- Online or electronic purchase

4. Existing credit cards if any: None

5. Looking at CC from: Hong Leong Wise, CIMB gold

6. Others: i. I'm looking for flexi payment with 0% or low interest.
ii. Offers cashback
iii. 0% or below 3% balance transfer facility for 36/24months
iv. im getting 2 cards. 1 for the buying, and another for BT.

however i have a question. if i want to use the BT facility, do i need a card of that bank or i can just simply call and apply?

1. Annual Income: RM36K to RM60K

2. Free Lifetime Annual Fee: A Must

3. Card required for: List all your needs
TM & TNB & Syabas & Astro - 150-300
Groceries - 400
Dining - 200-400
Petrol - 300
Retails - 100-500

4. Existing credit cards if any: Maybankard2card, HLB Essential

5. Looking at CC from: Any

6. Others: Must have cash back.

citibank cash back, cimb cash back, hlb essential

there's no more HL Wise gold, only plat, so likely not qualified. CIMB cash rebate, hlb wise or uob one card. if you want balance transfer, mbb and aeon has good low/zero interest but 12 months and 6 months respectively. 24, 36m not likely unless promo or something.

you do need a card with the bank to transfer the balance over.

note of advice: relying on balance transfer is to purchase things is still not healthy financially. handle with care.

This post has been edited by adele123: Jul 15 2015, 04:11 PM

It seems the HLB Wise Gold is back.
I'm still reluctant to apply this card because I cannot achieve what it requires.