Cheap and Good: 7 Affordable Credit Cards with Great Benefits

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Cheap and Good: 7 Affordable Credit Cards with Great Benefits

Happiness comes in small packages. The statement also holds true when it comes to choosing the right credit card for yourself. A card that rewards your daily transactions without burning a hole in your pocket surely deserves the best slot in your wallet.

We’ve hand-picked 7 such affordable credit cards in a bid to make it easier for you to choose an option that will maximise the value of every ringgit that you’ll spend. All of these credit cards have low minimum income requirements, no or low annual fee and competitive interest charges.

Here’s a table that shows the prominent features of each of these cards.

Card Name

Interest / Finance Charges* Annual Fee Waiver Minimum Income Requirement

Prominent Feature

Alliance Bank You:nique Card

From 9.00% p.a. Yes (For first 3 years) RM24,000 p.a.

Up to 3% rebates with no monthly cap.

AmBank True Visa Credit Card

From 7.99% p.a. Yes RM36,000 p.a.

3% cash rebate on online transactions.

HSBC Amanah MPower Platinum Credit Card-i

From 15.00% p.a. No RM36,000 p.a.

Up to 8% cashback on groceries and petrol purchases

BSN Classic Credit Card

From 11.00% p.a. Yes RM24,000 p.a.

Earn rewards under BSN Happy Rewards Programme.

Citi Simplicity+ Card

From 15.00% p.a. Yes RM24,000 p.a.

Up to 10% interest back on cash advance and purchases.

Maybank 2 Gold Card

From 8.88% p.a.

Yes

RM30,000 p.a.

Up to 5X TREATSPoints and 5% weekend cashback.

Standard Chartered JustOne Platinum MasterCard From 15.00% p.a. Yes (Only for the first year) RM24,000 p.a.

Annual cashback of up to RM1020 (RM85 per month) on petrol, online and auto bill payments.

* Please note that the actual interest rates charged by the bank may differ from these rates. The above-mentioned rates are the lowest range of finance charges.

Now, let’s discuss these credit cards in more detail:

1. Alliance Bank You:nique Card

Alliance Bank You:nique Card

The Alliance Bank You:nique Card is a unique card for a number of reasons. To start with, this credit card allows you to have your picture embossed on the card, which is pretty cool! Secondly, the interest rates on the card start at 9% (depending on the cardholder’s payment record) which is one of the lowest in Malaysia.

This card gives up to 3% cash rebates on all retail spends if your monthly bill falls between RM2001 and RM3000, 1.5% cash rebate on retail spends for monthly bills between RM1001 and RM 2000, and 0.5% cash rebates for monthly bills below RM1000. Plus, there’s no limit on the cash rebates.

Charge the card for daily purchases and you’ll also bag 2X Timeless Bonus Points.

That’s not all, the card doesn’t have an annual fee for the first 3 years. Even after that, you can have your annual fees waived off if you charge the card RM5,000 or more in a calendar year.

Related: Top Petrol Credit Cards in Malaysia That Let Us Drive Around for Less

2. AmBank True Visa Credit Card

AmBank True Visa Credit Card

The credit card comes with a low-interest range that starts from 7.99% p.a. for the first year. Subsequently, the finance charges will be 12.00% p.a. The card earns you rebates at a rate of 3% on all online transactions and has a cap of RM30 per month.

The AmBank True Visa Credit Card card is designed to make your everyday life easier with multiple value-added features like excess limit service, auto-bill payment, and balance transfer. This card also lets you split your bill into easy monthly installments with AmFlexi-Pay. So there’s no stopping you from shopping, but use it wisely!

Related: 6 Common Mistakes Credit Card Users Must Avoid

3. HSBC Amanah MPower Platinum Credit Card-i

HSBC Amanah MPower Platinum Credit Card-i

This HSBC card can fetch you up to 8% cashback on purchases made at participating petrol stations and grocery stores if your monthly bill exceeds RM2000 (total cashback capped at RM50).

If your monthly petrol and grocery spend is less than RM2000 (at the participating petrol stations and grocery stores), you’ll still get a cashback of 2%. Any amount charged at the non-participating grocery stores will fetch only 0.2% cashback.

Although the HSBC Amanah MPower Platinum Credit Card-i comes with an annual fee of RM254.50, it’s still considered a great option as it gives decent cashback on grocery and petrol spends (of 2%) even if your monthly bill is less than RM2000.

Related: Types of Credit Card Fraud to Be Aware of and How to Protect Yourself

4. BSN Classic Credit Card

BSN Classic Credit Card

The BSN Classic Credit Card is a universally accepted card by Bank Simpanan Nasional that comes with a complimentary Touch n’ Go BSN Zing PLUSMiles Card.

By using this card, you can also earn rewards points and discounts on your purchases under BSN Happy Rewards Programme and BSN Happy Privileges.

5. Citi Simplicity+ Card

Citi Simplicity+ Card

As the name suggests, the Citi Simplicity+ Card simplifies your life by not charging any annual fee, over-limit fee, and late payment charges.

The card also offers interest-back of up to 10% on purchases and cash advances every month when you pay at least the minimum monthly due amount on-time. Also, there is no cap on the rebates earned.

These features make this card one of its kind.

Related: How to Make the Most of Your Rewards Credit Cards

6. Maybank 2 Gold Card

Maybank 2 Gold Cards

The Maybank 2 Gold Card holds the power of two cards: Maybank2 MasterCard and Maybank2 American Express Card. You can earn rebates and rewards while not paying any annual fee for life.

With up to 5X TREATSPoints earned per RM1 charged on this card, you can also get a 5% cashback on your weekend purchases. The card also provides special privileges at all SPG Hotels and Resorts to make sure that your dining is taken care of.

7. Standard Chartered JustOne Platinum MasterCard

Standard Chartered JustOne Platinum MasterCard

Enhance your savings with Standard Chartered JustOne Platinum MasterCard. The card can earn you a maximum cashback of 15% in a month if your total monthly spends involving petrol, online and auto bill payments exceed RM2500 (total cashback capped at RM85).

And if your total monthly spend on petrol, online and auto bill payments fall between RM1000 and RM1499 in a month, you’ll still get a cashback of 5% (capped at RM12).

That’s good? Well, there’s always better. When you activate your card within 45 days of approval, you get a cashback of RM100 into your account.

Related: Air Miles 101: What You Need to Know About Using Credit Cards to Earn Miles

Our verdict

Each of these cards come with its own set of benefits without charging a bomb. Having said that, you’ll be able to make the most of your money if you choose a credit card that rewards your specific requirements.

For example, if you drive around regularly, the  HSBC Amanah MPower Platinum Credit Card-i and the Standard Chartered JustOne Platinum MasterCard will suit you more as it’ll fetch cashback on your petrol spends.

You may also like our detailed credit card reviews:

All information provided in this article / blog, published on this website is strictly for general information purpose only. BBazaar does not provide any warranty about the authenticity and accuracy of such information. BBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Please visit the websites of respective banks/financial institutions for more details about products.

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