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

If you can spend about RM80K a year then for Enrich Miles - Maybank 2 Cards Premier! And you don't need to earn RM180K/year if you really want this card - read the comments section in the link provided here for tips.

But based on your usage, best you just go with combinations of cash back:

For Petrol and Groceries - Maybank Islamic MasterCard Ikhwan.

For online - Public Bank Visa Signature where you also get 3X Free access to PPL.

For insurance, if AIA then look at PB AIA or other insurance see if the AEON Watami is good for you.

However if your online transactions are very high, then look into HLB Essential Unlimited 1% cash back or Maybank 2 Cards Platinum where you get Unlimited 5X TP with the AMEX (good for examples Agoda, and arilines - AirAsia, MAB, UA, etc.) But then again, if want Enrich, get Maybank 2 Cards Premier.

Or if you spend RM60K a year, then check out Maybank Visa Signature where you get 5% cash back for petrol and groceries, 5X TP for overseas including online and 5X FREE access to PPL including Supp cards.

This post has been edited by Gen-X: Nov 4 2015, 08:33 PM

Get both PBB Visa Signature FREE with 12 swipes and Maybank Visa Signature for Petrol and 5X TP overseas PLUS 5X FREE entries to PPL.

Please note - typo earlier, Maybank VS annual fee waived with RM50K spending. Last month MBB website showed they revise the spending to RM30K/year to get annual fee waiver but after 2 weeks, they revise it back to RM50K.

Announcement - For the benefit of those who are new and/or clueless about credit cards, I am presenting a complete revamped Credit Card Tutorial for 2016.

And the FREE courses are as follows:

Prerequisite to take the course: Life – Pay Now With Credit Card Earn Later OR Save Now For Retirement.

CC 101 – Introduction To Credit Card 2016 (to be published on 5 January 2016).

CC 114 – Credit Card Interest Rates (scheduled on 6 January 2016).

CC 118 – Benefits of Credit Cards and Choosing The Right Credit Cards Based On Your Spending Pattern (scheduled on 11 January 2016).

CC 164 – 0% Installment Plans with Credit Cards – It Is A Trap (scheduled on 13 January 2016).

CC 201 – Credit Card Fraud and Bank Value for SMS Alert (scheduled on 15 January 2016).

CC 254 – Balance Transfer Plan (scheduled on 15 January 2016).



Click here to be directed to my Credit Card Tutorial Page and bookmark it.

This post has been edited by Gen-X: Jan 3 2016, 11:06 PM

Bro, you mean Episode II right? It is scheduled for 18 January 2016 at GenX GenY GenZ Dotcom, click here to see announcement.

Since I published my Best Top 10 CC for 2016 at GenerationsXYZ Blogspot back in October and revised in November 2015, there have been some revisions made to some credit cards, e.g. CIMB, RHB & UOB. But the cards where I recommended in the Conclusion are still the best cards to have

This post has been edited by Gen-X: Jan 4 2016, 01:06 AM

What a bummer. So now Maybank 2 Cards AMEX is going to be very attractive with equivalent cash back of 1.25% when redeeming for vouchers.

Sifus, need your recommendation, please be detail with explanation and not give me a single liner like Card ABC.

1. Annual Income:

2. Free Lifetime Annual Fee: A Must - either FREE FOR LIFE or with 12 swipes only

3. Card required for: Pure Cash Back/Rebate Card for transactions not related to Dining, Online, Petrol, Groceries, Overseas and Travel (hotel or airlines or travel agency).

4. Existing credit cards if any: Assuming I have HLB Essential.

5. Looking at CC from: Any Bank

6. Others: In view that fruitie just highlighted that the HLB Essential now only reward 0.6% cash back for spending below RM5K. What card can earn me more than 0.6% for general transactions with local spending less than RM1000/month. If I spend between RM1K to RM1667/month (or RM5K per quarter) then I know I should get AEON Watami. (Italic Edited)

Above exercise is to allow me to come out with an article on how to optimize returns from CC.

This post has been edited by Gen-X: Jan 9 2016, 01:12 AM

Thank you Bro for the recommendations and detail explanation.

AEON Watami, you are right!!! Above RM1K average per month up to RM1667 average per month.

OCBC GE 1% for less than RM1K Going to promote this FREE FOR LIFE card, haha.

SCB a bit tricky like you mentioned because of monthly cap:

Spend between RM500 tp 800 cap is RM10/month!
Spend between 800 to RM1500, cap is RM20/month
Spend above 1500, cap is RM50/month.

So if one spend between RM1000 to RM1500 per month, easier to just go with AEON Watami where we get guaranteed 3% cash back PLUS points.

Say a person spends RM700 per month. RM700 x 2% = RM14. But cap RM10. Therefore cash back = 1.42% which is pretty good.

Per year = RM 120 cash back. Annual RM185.50. Effective cash back with annual = NEGATIVE!!! This card no good if spend below RM800 unless annual fee waived.

Say a person have fix RM900 expenses per month. RM900 x 3 = RM30 But cap is RM25. Therefore % cash back = 2.77%, very good since more than 1%.

Total cash back per year = RM300.

Effective cash back = (Total Annual Cash Back - Annual Fee) / Total Annual Transaction = (RM300 - RM185.50)/ RM10,800 = 1.06%

Sifu Devil4life, you're my hero SCB Gold Card really good for RM800 to RM1K if the annual fee can be waived yearly. I am sure everyone would be happy to go beg for annual fee since get increase the cash back more than 100%!!! If not, use 1 year and then cancel the card

Side note, I called SCB CS, boy they are like HSBC, I got to press this and that before I get to talk to a human being. Anyway, the SCB CS confirmed first year annual fee waived tfor the gold card and second year annual fee will be imposed but can request for waiver.

For Petrol (5 x rM50) + Utilities (minimum you got 2 swipes) + Mobile (1) = 8 swipes. Another 2 swipes easily achieved (e.g. Food 2 x RM50).

I guess you already maximizing one way or another with the HLB Wise.

But if you can do your groceries on Friday or Saturday, then go get the FREE FOR LIFE Maybank Islamic MasterCard Ikwhan and earn 5% cash back.

It's the insurance part RM600 and the RM130 (Times - what is this I got no idea) = RM730 < RM1K/month

So better maybe forget about the Maybank Islamic MasterCard for Groceries and go get the AEON Watami, click here to read my review). With RM1K spending per month you can get 3% cash back.

Insurance +Times + Groceries = RM930 still short of RM70. If add the food RM100 (or you mentioned utilities got etc - whatever this is) then no problem with the AEON if your Wise can still achieve 10 X RM50 swipes.

For Petrol and Groceries go get Maybank Islamic MasterCard and earn 5% csah back on Friday and Saturday.

For you USD300 when converted more than RM1000 PLUS maybe one of you Utility bill, go get the AEON Watami and earn 3% cash back. Once again, click here to read my review of the AEON Watami good for RM1K to RM1667 spending per month.

This post has been edited by Gen-X: Jan 9 2016, 01:13 AM

No more 0% BT 12 months with PBB.

Check out Balance Transfer Thread

or

click here to my Balance Transfer Plan 2016 Tutorial where I listed RHB 24 months effective interest 8.67% or Maybank 12 months with 3% upfront. 0% 6 Months only with Public Bank and AEON Credit. BSN got a 24 months too but I don't know how it works when it said 0% for first 12 months. Or HLB 6.99% reducing balance interest.

You are right, my bad. Get RM50 free money somemore

I must go add the above PBB 0% BT to my Tutorial and of course give credit to you

hurtedheart - gave you credit at my FD Page/Post where I shared the 0% BT with all.

This post has been edited by Gen-X: Jan 17 2016, 11:09 PM

Fantastic detailed recommendation/explanation. Learned something from you.



This post has been edited by Gen-X: Jan 19 2016, 08:52 AM

fruitie, can I copy and paste your above tutorial and post it in my HLB Wise Tutorial at my blog to share with others?

I just published another credit tutorial titled Benefits of Credit Cards CC 118. My latest tutorial will benefit both new and existing credit card users. I will show you (recommend) which current credit cards are the best to earn you FREE Pocket Money or give you the best returns in terms of "cash back" or FREE makan at airports plus other benefits of owning the right credit cards.

And in the above tutorial, I also gave credit to my fellow Jedi Credit Card Masters - Devil4life for his detailed reply to my question where he introduced to me the FREE FOR LIFE OCBC Great Eastern MasterCard where it earns the cardholder 1% cash back for up to RM1K spending & fruitie for her detailed tutorial on how to earn 10% cash back for Unifi, Astro and Touch n Go with the HLB Wise.

Comprendo Sis, ONLY at Sam Groceria, must go fast fast edit my HLB post, haha. Thanks.

This post has been edited by Gen-X: Jan 20 2016, 12:05 PM

Bro, answering to your requirement where you specifically mentioned Petrol for weekdays, the AEON Watami recommended to you without any explanation is useless to you! Because even if you pump RM1K a month Petrol you will earn nothing with the AEON Watami.

For your petrol Everyday, you can consider Citibank Cash Back but after the first year, the annual fee may not be waived so be prepared to cancel the card.

Noted you got Maybank Islamic MasterCard Ikhwan, and if these two items add up to RM500 you are in luck. Check out my article on Hong Leong Bank Wise Visa and based on my examples and fruitie's tutorial, chose Petrol and Groceries as selected categories plus you get the bonus category for Mobile Phone Bill (not Telekom Landline) and you may just earn yourself 10% cash back for Petrol Everyday, Groceries Everday, Mobile Phone Bill, Unifi, Astro (if you have it) and even Touch n Go!

As for insurance, that one a bit tough to get more than 1% cash back if your monthly premium is like a couple hundred Ringgit. But if you don't mind getting another card, consider the FREE FOR LIFE OCBC Great Eastern MasterCard recommended by Devil4life in an earlier post and earn 1% cash back for up to RM1K spending a month.

As for PTPTN, if can use credit card for repayment directly, please let me know how you go about it. Of course there are ways you can utilize the benefits of credit cards to "indirectly" pay your PTPTN loan but the interest will be higher than the freaking low interest rate that PTPTN charges.

Bro, go click on the link to HLB Wise Tutorial I posted above. The card is not FREE as per your requirement, but the Effective Cash back after the second year is still higher than 5%.

As for Airport Lounges, click here to my Airport Lounge Page. FREE FOR LIFE with nominal requirement, AEON Gold which also allows you FREE makan at Green Market KLIA2. Also check out RHB World MasterCard and Visa Signature both FREE FOR LIFE once your income hit RM100K p.a.

This post has been edited by Gen-X: Jan 21 2016, 01:18 AM

Details please, this is interesting. Counter at PTPTN HQ or where. In PTPTN website, it only states Debit Card.

Thank you thank you as many are like you.

Sis, go lah settle your loan and be debt free and write an article on it and be my Guest Columnist

Sis, I can tell you that even if PBB approve your application, it's a waste of time doing BT because they will give you pathetic Credit Limit.

wjleong15 - seeking your confirmation that you have been paying your PTPTN repayments with your HLB credit card,

Noted you mentioned One Point Service WP Kuala Lumpur in respect to PTPTN payment with credit cards in a previous post- where is this? Or were you referring to One Stop Centre in Sentul or Putrajaya or Urban Transformation Centre (Pusat Transformasi Bandar)?

And now that HLB Essential only offer 0.6% CB, what credit card you using?

cybpsych - any input on PTPTN repayments with credit cards from you is appreciated.

This post has been edited by Gen-X: Jan 21 2016, 09:07 AM