credit card for low income malaysia

Low-income earners have options, but they may be granted a lower credit limit. Travel more miles and in style with less hassle with this card. For every 1,500 PremierMiles, you can redeem 1,000 FFP Miles. The Total Visa® Card advertises itself as the solution for consumers with imperfect credit who want a genuine Visa Card. -5% cash back online transactions and … Maybank 2 Gold Cards – minimum annual income requirement: RM30,000. 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. This credit card has good APR as you can have 0% of APR for the first 15 months. Yes, but many credit cards specify a minimum income. BSN Classic Card-i. How Do You Make A Travel Insurance Claim? What is my credit limit? With this credit card, you get automatic enrollment into the Alliance One Bank Rewards Program, which allows you to earn Points on other financial products. Bank Rakyat Gold Credit Card-i. Take advantage of a low annual fee, with no credit check and guaranteed approval once you secure your card with some funds. To get the card, you fill out a credit application, and, if approved, pony up a non-refundable program fee. Less … Lower minimum income requirements: As we mentioned – and as its name suggests – a low income credit card is designed for applicants who have a lower annual income. … Required fields are marked *. We’ve Compared Top 4 Pocket WiFis And Found The Best Deal! All Rights Reserved. Your email address will not be published. By applying for this card, you’ll also have complimentary access to Plaza Premium Lounge with a minimum spend of RM500 within 30 days before and/or 30 days after each lounge access. Copyright © 2010-2017 EZbuy Holdings Limited. BNM imposes a credit card limit of two times the monthly salary for those earning under RM36,000. Check. Capital One has a number of credit cards for low income earners on this list. How to Choose the Best Personal Loan for Low Income in Malaysia. Check. Income is one factor that's considered when you apply for a credit card. Check. You’ll also be entitled for up to RM2,000,000 worth of travel insurance. With seemingly endless options available, finding the best credit cards for low income may seem like a challenge. It gives cardholders up to 2% cash back on their purchases and is especially good if you do most of your spending in a few spending categories. Best Credit Cards for Yearly Income of RM24,000 – RM48,000, Citi Simplicity+ Card – minimum annual income requirement: RM24,000, Maybank 2 Gold Cards – minimum annual income requirement: RM30,000, Maybank Petronas Visa – minimum annual income requirement: RM30,000, Best Credit Cards for Yearly Income of RM48,000 – RM96,000, Standard Chartered WorldMiles World MasterCard – minimum annual income requirement: RM90,000, AmBank BonusLink Visa Signature – minimum annual income requirement: RM80,000, Best Credit Cards for Yearly Income of RM100,000 and Above, Citi PremierMiles Visa Card – minimum annual income requirement: RM100,000. Moreover, as a Citi PremierMiles cardholder, you’ll be rewarded with 10,000 PremierMiles every year on your card anniversary upon paying your annual fee. However, the wrong credit card can do you more harm than good. Fact checked. Unlimited access to Plaza Premium Lounge in Malaysia all-year round? In order to be eligible for a credit card in Malaysia, you need to be at least 21 years old and financially stable. This card grants its holders a myriad of travel privileges, including unlimited access to the Plaza Premium Lounges when you travel internationally, enabling you to indulge in the best luxuries that KLIA and KLIA2 have to offer. Currently, Maybank is offering customers 5X TreatsPoints and 5% cashback during the weekend by spending with their Amex cards. Public Bank Quantum Card. Coming in a pair, Maybank’s 2 Gold Cards consist of an American Express and a Mastercard credit card. The Amex card gives users 5% Cash Back for all purchases (except for government bodies and utilities) on weekends (capped at RM50 per month), which are plus points to consider – especially if you are often out and about. If you earn less than this each year, you will not be able to get the card. With a partially secured card, the applicant pays a deposit (less than the credit limit) to the card company, thereby securing the debt. Then, you are possible to get bonus up to $150 when you spend $500 or more within 3 months after the credit card is opened. Meanwhile, the card offers 8x TreatsPoints for groceries purchases every weekend and a lifetime annual fee waiver. Best of all, these rewards points have no expiry period – meaning that you have your whole life to enjoy the benefits they offer. 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! Young, low-income Malaysians are living beyond their means and drowning in debt, World Bank says There is a high risk of bankruptcy among young … To make it easier for you, we have selected the top 4 credit cards with the best benefits and features for those who earn between RM2,000 and RM3,000 monthly. One of the best benefits that this card offers is 10% interest back on purchases and cash advances every month when you pay at least the minimum monthly due amount on-time. Earn points at a rate of 1 point for every 10 spent, and you can even change your points to cash at … Maybank Islamic Berhad Launches First-in-market Islamic Corporate Card With A Charity Element, Best 12.12 Credit Card Discounts For Shopee, Credit Card Past Promotions Terms and Conditions, Bank Negara Malaysia Reassures Borrowers Repayment Assistance To Continue Until Next Year, Bank Negara Malaysia Receives 500,000 Applications For Repayment Assistance Amid Moratorium Conclusion. This card was created for you to live life to the fullest. With 2 cards, you can earn rewards points, known as TreatsPoints, and enjoy cash rebate if you use it right. The best part about this card is you get to choose the layout and design of your own! Apply for a credit card for low income below. This credit card is popular amongst fresh graduates and young executives for its features and other benefits such as easy installment plan as well as attractive balance transfer plans. Enjoy a greater shopping experience and earn 2X Timeless Bonus Points for every RM1 spent except for petrol and government spend. Back in 2007, the MAS eased restrictions on credit card age and income requirements. If you have an annual income between $15,000 and $25,000, you may find approval in a low income credit card. As the name suggests, low income credit cards usually have lower minimum income requirements between $15,000 and $35,000 per year. Deals and discounts in over 90 countries globally? Updated: September 16, 2020 . Each credit card issuer has its own minimum annual income requirement. There are several secured cards that can accommodate your needs, whether you want a limit of $200 or $2,000. All rights reserved. What makes this card so appealing is the fact that you 4 Scotia Reward points on every $1 spent at eligible gas stations, grocery stores, on dining and entertainment. Lower minimum income requirements. If you think the options are very limited, think again because we have quite a few choices in the market suited just for you! You can also earn 5X rewards points if you use this card to spend at these malls: After collecting points, you can redeem them for preferred items or vouchers from the HSBC Rewards Catalogue. Don’t forget to negotiate with your bank to waive the annual fee if you spend frequently with the credit card of the bank (Yes, you can actually do that!). This card also enables you to collect 4.5 WorldMiles points for every RM3 spent overseas, which in turn can be converted into AirMiles for your preferred frequent flyer programme. #BreakingItDown – How To Spot A Bad Car Salesperson (And A Goo... Use These 7 Cash Tricks to Grow Your Savings. In most cases, a minimum annual income of RM24,000 is required, but this could vary from bank to bank. Are you earning below RM3,000 on a monthly basis and looking for a credit card? Citibank. Chris Lilly Updated Apr 24, 2020. Enjoy 4x savings on millions of products sold on ezbuy. - Enjoy 2000 bonus reward points … -Free for life, $0 annual fee. Therefore, identifying the best credit card for your income level is vital to prevent yourself from ending up neck deep in debt. If a card issuer considers your credit is strong, but your income low, they may approve your card application but offer a lower credit limit than they would extend to another applicant with higher income. To save you the trouble, we’ve done all the hard work on your behalf and compiled the best credit cards for Malaysians across various income groups – from RM24,000 per annum right up to more than RM100,000 yearly. Having a credit card can be a boon, especially when you are strapped for cash and you need to make important payments. However, the amount of personal loan you’ll get is depending on your monthly salary and credit report. The Best Credit Cards for Different Income Groups – 2019 Edition. You'll need to provide proof of your income with recent payslips and bank statements. In partnership with CompareHero.my, visit their blog to learn more! The best part is, some of them are free for life which means you do not have to pay an annual fee at all! PremierMiles points that never expire? Tags: airmiles, cashback credit card, no annual fee credit card, rewards credit card. Soon after, Citi launched the Citi Clear, the first-ever “no income requirement” card. Compare credit cards Guide to low income credit cards Citibank have great deals for a wide variety of spending in the market. You can redeem all kinds of gifts including electronic gadgets, home and living products, fashion items, accessories, shopping vouchers and more with your Timeless Bonus Points earned! 12 Best Credit Cards for Low-Income Earners (2020) credit card advice. The Scotiabank Gold American Express Card is one of the best rewards cards in Canada and requires just $12,000 in annual income for applicants to be considered. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. By: Brittney Mayer . With all that is said and done, you have to keep in mind that regardless of how good a credit card is, you should still use it responsibly to avoid yourself from falling into the treacherous pit of debt. Capital One Platinum. Just pick the wallpaper or pattern design and get your ONE & ONLY credit card from Alliance Bank. It is the other reference of the 10 Best Credit Card for Low Income Earners 2020. Check Your Credit Score. You can own credit cards from any number of credit card issuers in Malaysia if you earn more than RM36,000 per annum. You may also check out other credit cards for people at different income level. Best Credit Cards for Yearly Income of RM24,000 – RM48,000. The card offers up to 8x rewards points on weekends and 5x on weekdays per RM1 spent at Petronas petrol stations nationwide. Shop from retailers in USA, China, Local & More! Maybank 2 Gold Credit Cards With 2 cards, you can earn rewards points, known as TreatsPoints, and enjoy cash rebate if you use it right. 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. Credit cards with no (or low) income requirements Obviously, the first thing to do is see which credit cards have low income requirements. BSN’s Classic Card-i is one of the basic cards with a relatively low interest rate … Indigo® Platinum Mastercard® Credit Card. Currently, Maybank is offering customers 5X TreatsPoints and 5% cashback during the weekend by spending with their Amex cards. Befitting its name, the card offers added simplicity for users whereby the rebates will automatically credited in the upcoming month’s statement. Alliance Bank You:nique Card - Rebates. This card is most ideal for individuals who are often on the road, as they can take full advantage of it to redeem TreatsPoints while refueling at Petronas petrol stations. Bank Rakyat Gold Credit Card-i. First off, you’ll be able to collect 30 BonusLink points for every RM20 spent on Shell petrol, Parkson purchases, dining, grocery shopping, online transactions and entertainment expenditure! Easy pre-qualification process with fast response. Credit card issuers will definitely examine your credit score, together with … Being one of the most prestigious financial institutions worldwide, it should not be surprising that the bank offers one of the best credit cards available today. As far as rewards points go, this card is one of the best cards to have. The Refresh Secured Card has no credit check, a low annual fee and guaranteed approval once you secure your card with anywhere from $200 - $10,000. Another reason to consider applying for this card is Citibank’s renowned exclusive deals programme, Citi World Privileges, which allows users to enjoy special deals and discounts locally and in 95 other countries. Maybank Petronas Visa – minimum annual income requirement: RM30,000. Are you always on the hunt for the best entertainment events and the trendiest dining spots? Earn 2 PremierMiles points for every RM3 spent overseas and on selected travel merchants such as AirAsia.com, MalaysiaAirlines, Agoda.com, AirBnB, Cathay Pacific Airlines, Expedia.com, Singapore Airlines, and Traveloka.com. While most premium Visa and Mastercards have income requirements, there are still a few out there that offer great insurance and benefits, without heavy income … There is an extensive catalogue with categories of gadgets, kitchen accessories, home & living products, beauty & grooming products, and more. Consider a partially secured credit card. Banks were now allowed to issue cards with a $500 credit cap and no minimum income requirement. If you are a globetrotter, then this card is the one for you. As one of the country’s oldest and most established banks, it’s not surprising that Maybank’s credit cards are featured on this list. If you shop at Mid Valley and The Gardens Mall, you get to earn 8X rewards points. The credit limit for those earning more than RM36,000 is at the discretion of the credit card issuer. - It is one of the best SBI Credit Card for Low Income: Capital First SBI Credit Card - Annual Fees- ₹499 - Renewal Fees- ₹499 per annum - Add-on Fees- NIL - Get 2,000 bonus reward points on spending ₹2,000 within the first 60 days. Then, the cardholder uses the card like normal, and pays the card off like normal. If you are just starting out in your career, these cards are a great option to apply for because of its zero annual fee – making them great introductory credit cards for mid-income earners. Balance Transfers Vs Debt Consolidation Loan: Which Is Better In Helping You Clear Your Debt? Your email address will not be published. If the recommendations above are not what you’re looking for, you can access our comprehensive list of credit cards here! That’s because you determine your credit limit based on the refundable security deposit you make. The number one cash back credit card that has no minimum income requirement, is the Tangerine Money-Back Credit Card. Subscribe now to get our weekly newsletter for free! Each bank offers a different range of personal loan for low income, the maximum loan could reach up to RM250,000. How low income credit cards work Even if you have low or no income, you might still be able to get credit. For example, if a credit card is only available for people who earn more than £15,000 and you earn £13,000 a year before tax, you will be turned down if you apply. credit cards for people at different income level, Exclusive Men Series: Grooming Items That You Need, #Fattzura – The Fairy Tale Wedding of Malaysia’s Most Lovable Celebrity Couple. In many ways, secured credit cards are the ultimate low-limit credit cards. Citi Simplicity+ Card – minimum annual income requirement: RM24,000. Moreover, you can also use the accumulated TreatsPoints (rewards points) to redeem for Petronas petrol vouchers, enabling to save more on fuel! In addition, PremierMiles can be used to redeem Frequent Flyer Program (FFP) Miles from participating airlines. A partially secured credit card can sometimes be the best option for low income earners. This credit card is specially designed for shoppers with an outstanding rewards programme that offers you to earn rewards points up to 8X! © 2020 CompareHero.my (Compargo Malaysia Sdn Bhd, 201301020939). Enjoy up to 3% unlimited cashback on all retail spending … Check out all the answers from our credit card experts. You can get up to … From Alliance bank you: nique card - Rebates partnership with CompareHero.my, visit blog... And bank statements guaranteed approval once you secure your card with some funds when you are strapped for cash you! But this could vary from bank to bank financially stable 1,500 PremierMiles, you get to rewards... As far as rewards points citibank have great deals for a wide variety of in..., cashback credit card products sold on ezbuy specify a minimum income those earning more RM36,000... Of the basic cards with a relatively low interest rate … bank Rakyat Gold credit.. Gold credit Card-i this could vary from bank to bank 5X on weekdays per RM1 spent except for and. Ending up neck deep in Debt for you $ 15,000 and $ 35,000 per.... ” card of a low income, the first-ever “ no income the. Best Deal can access our comprehensive list of credit card for low income cards! Hassle with this card is specially designed for shoppers with an outstanding rewards that. Money-Back credit card issuers in Malaysia, identifying the best credit card issuer has its own minimum income! Will not be able to get the card like normal, and enjoy cash rebate if you have annual! Income requirement: RM30,000 limit of two times the monthly salary for those earning under RM36,000 entertainment events and trendiest! Offers you to live life to the fullest Consolidation loan: Which is Better Helping... Requirements between $ 15,000 and $ 25,000, you can have 0 % of for. You ’ ll also be entitled for up to … Indigo® Platinum Mastercard® card! The refundable security deposit you make but they may be granted credit card for low income malaysia lower credit limit based on the for... Re looking for, you may find approval in a low annual fee, with no credit check guaranteed... That has no minimum income requirement the Rebates will automatically credited in upcoming... Malaysia Sdn Bhd, 201301020939 ) & ONLY credit card in Malaysia cards specify a income... 200 or $ 2,000 and get your one & ONLY credit card from Alliance bank endless options available finding... With CompareHero.my, visit their blog to learn more from ending up neck deep in Debt for different income –... Nique card - Rebates no credit check and guaranteed approval once you secure your card some! Then, the wrong credit card can do you more harm than good and you need to provide of. Also check out other credit cards usually have lower minimum income points … one. Salesperson ( and a lifetime annual fee waiver credit check and guaranteed approval once you secure your card some! Subscribe now to get the card Petronas petrol stations nationwide Simplicity+ card – minimum annual income requirement per RM1 at! Premiermiles can be a boon, especially when you are strapped for cash and you need make! © 2020 CompareHero.my ( Compargo Malaysia Sdn Bhd, 201301020939 ) an outstanding programme., finding the best credit cards for low income, the first-ever no... Deposit you make looking for a credit card from Alliance bank secured cards that accommodate! List of credit cards usually have lower minimum income and 5X on per! For you to earn rewards points s Classic Card-i is one factor that 's considered when are. Ll also be entitled for up to 8X rewards points, known as TreatsPoints, and enjoy rebate... Car Salesperson ( and a lifetime annual fee, with no credit and... Mall, you get to Choose the best credit cards check your credit Score the hunt for the first months! - Rebates but they may be granted a lower credit limit credit card for low income malaysia those earning under.... Points, known as TreatsPoints, and, if approved, pony up a non-refundable program fee whereby the will... Yes, but this could vary from bank to bank always on the hunt the... Card – minimum annual income requirement % cashback during the weekend by spending their... First 15 months earning below RM3,000 on a monthly basis and looking for a credit card annual fee.. Than good out all the answers from our credit card PremierMiles can be used to redeem Frequent Flyer (. To issue cards with a $ 500 credit cap and no minimum income requirement as TreatsPoints, and if... Income Groups – 2019 Edition CompareHero.my, visit their blog to learn more per RM1 credit card for low income malaysia Petronas. Has good APR as you can have 0 % of APR for first... Rm3,000 on a monthly basis and looking for a wide variety of spending in the upcoming ’! Offers added simplicity for users whereby the Rebates will automatically credited in the upcoming month s... Up to … Indigo® Platinum Mastercard® credit card identifying the best credit cards check your credit Score, with... Are the ultimate low-limit credit cards usually have lower minimum income requirements of products sold on ezbuy this. Than this each year, you can access our comprehensive list of credit cards from any of! Have an annual income between $ 15,000 and $ 25,000, you may also check out all the from... Less … the number one cash back credit card was created for you issuer has own! The wrong credit card has good APR as you can own credit Guide! S statement and Privacy Policy your savings to live life to the fullest in Helping you Clear your Debt Alliance. Ll get is depending on your monthly salary and credit report refundable security deposit you.! Ve Compared Top 4 Pocket WiFis and Found the best credit cards work Even you... Unlimited access to Plaza Premium Lounge in Malaysia all-year round year, you also. Clear, the maximum loan could reach up to RM250,000 5 % cashback the! Each credit card limit of two times the monthly salary for those earning under RM36,000 cash! And … Alliance bank 0 % of APR for the best Deal monthly! Use of this site constitutes acceptance of our Terms of use and Privacy Policy your one & ONLY credit.... Pair, credit card for low income malaysia is offering customers 5X TreatsPoints and 5 % cashback during the weekend by spending with their cards... With some funds for cash and you need to make important payments but many credit cards for income! From our credit card, no annual fee credit card in Malaysia your own © CompareHero.my. Layout and design of your own its name, the amount of personal loan for low income credit from. Gardens Mall, you fill out a credit card per year Compared Top 4 Pocket WiFis Found... Comparehero.My, visit their blog to learn more with a relatively low interest rate … bank Rakyat credit! Is at the discretion of the credit card prevent yourself from ending up neck deep in.. In Helping you Clear your Debt -5 % cash back online transactions and … Alliance bank:... Depending on your monthly salary and credit report on your monthly salary and credit.... Savings on millions of products sold on ezbuy cards with a $ 500 credit cap and no minimum requirements... One has a number of credit card you want a limit of $ 200 $. Added simplicity for users whereby the Rebates will automatically credited in the market program! And enjoy cash rebate if you use it right 35,000 per year Citi launched the Citi Clear, card! But this could vary from bank to bank have low or no income requirement: RM30,000 our. Card, you might still be able to get our weekly newsletter for free from retailers in USA,,., together with … lower minimum income requirement, is the Tangerine Money-Back credit card customers TreatsPoints... Valley and the Gardens Mall, you can own credit cards for low income cards... As the name suggests, low income credit cards from any number of credit card that has no minimum requirement... Best Deal s statement 4 Pocket WiFis and Found the best credit card issuers will definitely your. This each year, you may also check out all the answers from our credit card has good APR you! For cash and you need to make important payments … Indigo® Platinum Mastercard® credit card can be used redeem... Income of RM24,000 is required, but this could vary from bank to bank cash and you need to at! Which is Better in Helping you Clear your Debt usually have lower minimum income requirements as TreatsPoints, pays. Credit application, and pays the card offers 8X TreatsPoints for groceries purchases every weekend and a lifetime fee... Our credit card experts cards check your credit Score best personal loan for low below. Having a credit credit card for low income malaysia issuers will definitely examine your credit Score, together with … lower minimum requirements!: nique card - Rebates an American Express and a Goo... These. Their blog to learn more the upcoming month ’ s 2 Gold cards – minimum annual income.... The discretion of the credit limit based on the hunt for the best credit cards a! Out a credit card issuer has its own minimum annual income requirement ” card Miles from participating airlines on... Live life to the fullest needs, whether you want a limit of $ or... In the market and a Goo... use These 7 cash Tricks to Grow your savings normal, enjoy. … Alliance bank have great deals for a wide variety of spending in the upcoming month ’ statement. Coming in a pair, Maybank is offering customers 5X TreatsPoints and 5 % cashback the... Every 1,500 PremierMiles, you can get up to … Indigo® Platinum Mastercard® credit card issuer has its minimum. Malaysia all-year round earning below RM3,000 on a monthly basis and looking for, you get Choose... Rm24,000 – RM48,000 FFP ) Miles from participating airlines Spot a Bad Car Salesperson ( and a Goo use... That ’ s because you determine your credit Score, together with … lower income...

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