Finding the best Credit card can be difficult at times, especially when it comes to knowing which is the best one for your income level. To ease your search for the right one, we have compiled the best Credit Cards for Malaysians across various income groups.
Credit Cards For Malaysians From Income Groups
If you have decided on a certain credit card but are not qualified for it, don’t worry! We may have the perfect alternatives for the three major income groups as below.
- For those who earn between RM24,000 to RM48,000 (at least) per year
- For those who earn between RM60,000 to RM90,000 (at least) per year
- For those who earn more than RM100,000 per year
See also: A Guide to Choosing and Applying for Credit Cards
Best Credit Cards For Those Who Earn Between RM24,000 To RM48,000 Annually
1. Maybank 2 Gold Cards
With 2 cards in 1, you can earn rewards points, known as TreatsPoints, and enjoy cash rebate if you use it right. Currently, Maybank is offering customers 5X TreatsPoints and 5% cashback during the weekend by spending with their Amex cards.
This credit card is popular amongst fresh graduates and young executive for its features and other benefits such as easy installment plan as well as attractive balance transfer plans.
Minimum Income Requirement: RM30,000
Annual Fee: Free for life
2. Citi Simplicity+ Card
This card is simple to use with its unlimited cashback of 10% on purchases and cash advances every month when you pay the minimum outstanding amount due on time every month. Also, you don’t have to worry about paying your outstanding amount late or spending over the credit limit as there will be no charges for any of these two mentioned!
Citibank is also well-known for its exclusive deals programme, Citi World Privileges where you can enjoy special promotions at about 10,000 outlets for shopping, dining, and travelling around the world.
Minimum Income Requirement: RM24,000
Annual Fee: Free for life
3. HSBC Visa Platinum
This credit card is specially designed for shoppers with an outstanding rewards programme that offers you to earn rewards points up to 8X!
If you shop at Mid Valley and The Gardens Mall, you get to earn 8X rewards points. You can also earn 5X rewards points if you use this card to spend at these malls:
- 1 Mont Kiara
- Bangsar Shopping Centre
- Bangsar Village
- Lot 10
- Low Yat Plaza
- Publika Shopping Gallery
- Hartamas Shopping Centre
- Pavilion Kuala Lumpur
- Suria KLCC
- Sungei Wang Plaza
- Starhill Gallery
- 1 Utama
- The Curve
- IPC Shopping Centre
- Paradigm Mall
- Tropicana City Mall
- Empire Shopping Gallery
- Sunway Pyramid
- Setia City Mall
- Sunway Putra Mall
- Atria Shopping Gallery
- Nu Sentral
- IOI City Mall
- KSL City Mall
- AEON Tebrau City
- Sutera Mall
- Johor Premium Outlets
- Johor Bahru City Square
- 1Borneo Hypermall
- Gurney Plaza
- Queensbay Mall
- Gurney Paragon Mall
- Sunway Carnival
Later on, you can redeem preferred items or vouchers from the HSBC Rewards Catalogue over the categories of gadgets, kitchen accessories, home & living products, beauty & grooming products, and more.
Minimum Income Requirement: RM36,000
Annual Fee: RM240
Best Credit Cards For Those Who Earn An Annual Income Between RM60,000 To RM90,000
1. PETRONAS Maybank Platinum Visa
If you are a heavy driver, you will want to use this card and earn 5x TreatsPoints on weekdays and 8x TreatsPoints on the weekend whenever you spend at PETRONAS Service Stations. That’s not it! You can also earn 8x TreatsPoints on grocery purchases during the weekend which can be a big boost to redeem free PETRONAS or Aeon vouchers.
With this card, you can get an automatic membership upgrade to the prestigious Visa Platinum Club and invitations to Platinum events. The best thing about this card is, it is free!
Minimum Income Requirement: RM60,000
Annual Fee: Free for life
2. Standard Chartered WorldMiles World Mastercard®
Shout out to all traveler by heart, this card is the perfect fit to take your next travel experiences to another level. With an unlimited access to Plaza Premium Lounge, you can pamper yourself like a VIP while waiting for your next flight at KLIA or KLIA 2.
You can also earn WorldMiles and redeem air miles of your preferred airline loyalty programme later on. With every RM3 spent locally and, RM2 spent overseas, you get to earn 1 and 3 WorldMiles respectively. For every 2 WorldMiles collected, you can redeem 1 air mile of the chosen airline loyalty programme.
At the moment, Standard Chartered is also offering RM100 cashback for new applicants if the credit cards are activated within the 45 days from card approval date. It is time to fly like a CEO!
Minimum Income Requirement: RM90,000
Annual Fee: RM636
Best Credit Cards For Those Who Earn RM100,000 And Above (Annually)
1. Citi PremierMiles Visa Card
What if you can collect rewards points that never expire? With Citi PremierMiles Visa card, you can stop worrying about the expiry period of your points and earn as long as you like before you redeem it!
With every RM3 spent locally and overseas, you can earn up to 2 PremierMiles and be rewarded with an additional 10,000 PremierMiles every year once you have paid your annual fee. You can use every 1,500 PremierMiles collected to redeem 1000 air miles from over 90 airline loyalty programmes such as Enrich Miles, KrisFlyer Miles, and Asia Miles.
You can wait for your flights like a celebrity with this card and get unlimited access to Plaza Premium Lounges at these airports:
- Kuala Lumpur International Airport*
- Penang International Airport*
- Kuching International Airport*
- Kota Kinabalu International Airport*
- Singapore Changi Airport
- Hong Kong International Airport
- London Heathrow Airport
If you use this card to spend overseas for at least, you will get a free ride home from KLIA when you are back in the country too. Or, you can just buy KLIA Express tickets at 15% off, paying with this card. You will also enjoy travel insurance and life insurance (overseas) up to RM300,000 of coverage if you use this card to purchase your flight tickets (full fare).
Minimum Income Requirement: RM100,000
Annual Fee: RM600
Not what you are looking for? Then, you need to head over to this site and check out the best credit card that fits your needs. Do not forget to check out our on-going promotions with free gifts too!
The post The Best Credit Cards For Different Income Groups appeared first on Financial News and Advice in Malaysia.