Different Types Of Credit Cards

No matter what one’s financial situation could be, some of the niche Malaysian Banks feature one Credit card or the other for everyone. So, if you think that a credit card in keeping with your financial needs doesn’t exist, chances are that you would most probably stand corrected by one of such banks.

Among the banks in Malaysia, I am going to use the Credit Cards offered by Hong Leong Bank (HLB) as a reference to my heads up about the different types of credit cards available in the market. Why? For the simple reason that I’ve found HLB to align their credit cards or any financial services in that case, with the organic expectations of their customer base! I’m evidently one of the customers who has found consumable benefits through HLB’s banking services, especially credit card.

Premium Credit Cards

Premium credit cards are the ones that require an annual fee along with regular usage and interest payments. But in return, they provide the customer with exclusive benefits that are second to none. The benefits come in the form of retail offers, shopping, travel, mile points, dining, entertainment, and so on. However, in the case of HLB’s Premium Credit Cards, you could even get some of the cards without an annual fee. Getting your annual fee on a premium credit card waived for life isn’t something that every bank in Malaysia offers.

Business Credit Cards

A business credit card is a go-to option if you want to make use of a credit card under your business name. It helps you draw a fine line between your personal and professional finances. You get a lot of privileges with a business credit card and also get the annual fee waived over making a set number of retail transactions. Special privileges include airport lounge access, interest-free credit, and a lot more. HLB Malaysia’s business credit cards encompass all your professional needs with seamless assistance.

Cashback Credit Cards

Cash Back is the process of getting a certain percentage of a rebate on your credit card expenditures. Cashback is given out on a predefined set of credit card transactions that include, retail, insurance, trading & investments, merchants, and so on. Hong Leong Bank’s cash back credit cards offer a host of varieties in choosing the one that best fits you. To me, it’s the WISE Credit Card that stood out among all of them. Not only was I able to make use of a high cash back of RM100, I could also get a 10% cash back on a day-to-day basis. The participating merchant list surely left me spoilt for choices, and I just had to go with this one.

Rewards Card

These are credit cards which provide you rewards for every minimum transaction that you make. The reward points can be redeemed on vistas such as gifts, hotel, dining, travel, flights and overseas spending. A reward points credit card would suit a customer who wants some sort of privileged returns from the bank, every time that he/she swipes the card. HLB offers reward points credit cards that offer up to 6x rewards on overseas transactions. Their credit card plans also include a travel insurance coverage and premium lounge access.

No Frills Credit Card

“I’m Card” is a no-frills credit card from HLB, which exclusively offers you the choice of personalizing your credit card. The beauty of it is its simplicity and the savings it provides you on foreign currency spending. To top it all, you are assured of a seamless digital banking experience and zero annual fees!

To help you choose better…

The Credit Card Recommender Tool designed by HLB is a great way to see which credit card would help you fulfill your financial needs and find the financial services you look forward to. The tool provides a personalized suggestion from a multitude of credit cards, no matter what type – be it business, personal, premium, or any other credit card type.