Best Credit Cards in Malaysia

When it comes to credit cards, the term ‘best’ is highly subjective. Even financial experts cannot judge a particular card to be the best credit card in Malaysia. This is because every individual has specific financial needs. Any card that fulfills those specific needs with minimal burden on the pocket is the best credit card for that individual.

Here are the top 10 Malaysia Credit Cards According to EconomyWatch readers:

When it comes to credit cards, the term ‘best’ is highly subjective. Even financial experts cannot judge a particular card to be the best credit card in Malaysia. This is because every individual has specific financial needs. Any card that fulfills those specific needs with minimal burden on the pocket is the best credit card for that individual.

Here are the top 10 Malaysia Credit Cards According to EconomyWatch readers:

1. Public Bank Malaysia Credit Card
2. Maybank Malaysia Credit Card & Online Payments
3. Citibank Malaysia Credit Card & Online Payments
4. HSBC Malaysia Credit Card
5. EON Malaysia Credit Card
6. AEON Malaysia Credit Card
7. Bank Islam Credit Card & Online Payments
8. Hong Leong Credit Card Malaysia
9. Standard Chartered Malaysia Credit Cards
10. OUB Malaysia Credit Cards

How to Get the Best Credit Card in Malaysia

To find the best credit card in Malaysia, one has to understand one’s personal credit priorities. For example, average earners prefer the gold or silver credit card, which offers a reasonable limit and low interest rate. They also prefer a cash back policy or reward points to add to the financial freedom. However, high earners usually prefer premier class credit cards with exclusive privileges.

Interest rates: For most people, the best credit card means a card with minimal rates. Interest rates apply to the outstanding amount after the interest-free period. Thus, a card with a high interest rate can lead the owner towards a debt crisis. Credit card interest rates in Malaysia are low. Most banks have a tiered rates structure, which offers low APR (annual percentage rate) based on timely payment of credit card bill.

Rewards: Credit card offers are often accompanied by a range of reward programs. The most popular rewards are cash back, air miles, hotel reservations and shopping bonus points. You need to understand your personal spending pattern to choose a reward program that suits you.

Fees and charges: Always choose a zero annual fees card. Also, compare credit card products for cash advance and balance transfer charges. Many banks offers zero percent balance transfer for an introductory period of 12 months.

Exclusive benefits: Premier cards offer exclusive benefits, such as priority services, club membership, access to the VIP lounge at airports and personal concierge services. Some of the premier credit cards are Visa Infinity, MasterCard Black, Visa Platinum Select and MasterCard Platinum.

Protection plans: Look for card protection plans, such as zero liability, emergency theft reporting and card loss insurance. These programs can save the owner from hefty credit card bills if the card is used for unauthorized transactions. 

The only key to finding the best credit card in Malaysia is to conduct extensive market research. Investing some time in research can save you a lot of money in the future.

Browse Malaysia Credit Cards on EconomyWatch.com