10 Great Credit Cards for Millennials Based on Their Earnings and Spending Habits

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10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

In 2017, NST Online reported on a survey by United Overseas Bank Limited (UOB) Malaysia on the spending habits of millennials. The survey revealed that Malaysian millennials are spending 1.4 times more than other age groups when it comes to online spending.

They mainly used their credit cards to buy airline tickets and book hotel rooms. They also used their credit cards to purchase products from fashion and retail outlets through the internet. Due to millennials’ increasing preference for online shopping, it has also led to a 26% rise in credit card spending among members aged between 26 and 35.

This may not be as shocking since a study conducted by the Asian Institute of Finance (AIF) in 2015 had revealed a similar finding, where 47% of millennial respondents engaged in high credit card borrowing.

Basic things to know before getting a card

10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

If you’re a millennial who prefers to spend online and are thinking of getting a new credit card, avoid falling into the debt trap! First, check out our top tips on credit cards; from finding the right type of credit card for you to managing your payments so you won’t be in debt.

Then, check out our recommended credit cards that are suitable for you based on your earnings and spending habits. Choosing the right card based on these two factors is important to help you avoid getting trapped in debt.  

If you’ve only been working for less than 10 years, your finances may not be solid yet. You’re not alone. The majority of millennials are still struggling to build their savings, retirement, and emergency funds for the proverbial rainy day; so regular expenses like credit card bills could be a burden. In order for you to take advantage of great credit card benefits, some credit cards will come with hefty annual fees or steep spending requirements.  

However, that doesn’t mean you shouldn’t get a credit card or upgrade to a better one. If you want to save more on your credit card bills, the trick is to not miss a single monthly payment (and thus save on interest charges and late payment fees).

And if you play your cards right (you’re a savvy spender!), you could consider asking your bank to lower your credit card interest rate later on or waive off the annual fee (if your card has one), provided you have a good credit rating and have been a stellar customer for some time.

If you’re wondering whether you have a good credit score, read our article on credit health — 7 Signs You Have a Good Credit Score. If your credit score is not good, we have 7 Useful Tips to Improve Your Credit Score.    

Check out our 10 recommended credit cards for millennials based on their earnings and spending habits:

If you love travelling

10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

Hooked on globe-trotting? A travel credit card that helps you save more or rewards you with travel perks would benefit you the most, such as:

1. Standard Chartered Visa Platinum Card (Min. income: RM2000/month)

Some of the key benefits include:

  • A lifetime annual fee waiver on your principal and supplementary cards
  • Earn 5x Reward Points on dining expenses, department store purchases and overseas spends charged to the card
  • Get 5,000 bonus points every month when you spend just RM1,500 in a month.
  • Amazing offers and privileges at over 4,000 outlets in Malaysia and across Asia
  • 20,000 points can get you travel essentials and gift vouchers
  • 150,000 points can be redeemed for luggage bags and smartphones

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Standard Chartered Visa Platinum
Card Type : Rewards
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • Get 5,000 bonus points on a minimum spend of RM1,500 per month

    Earn 5x points on dining, departmental store purchases, and overseas spends

    Earn 1x points on all other local spends

  • Minimum income: RM24,000 p.a.

    Minimum age: 21 years old

    For salaried: Copy of NRIC (both sides), last 1 month’s salary slip and bank statement, last 6 months’ salary slip and bank statement for commission earners, latest EPF Statement, latest Borang BE(Full submission to LHDN)

    For self-employed: Copy of NRIC (both sides), last 6 months’ bank statement and Business Registration Form 9, 24, 49, latest EPF Statement, latest Borang B/BE(Full submission to LHDN)

  • Annual fee: Waived for life (Principal card and supplementary card)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: 7 Top Credit Cards with Unconditional Lifetime Annual Fee Waiver!

2. Alliance Bank Platinum (Min. income: RM5,000/month)

Some of the key benefits include:

  • Earn 3x Timeless Bonus Points on every RM1 spent overseas, 2x TBPs on every RM1 spent on utilities, petrol, and groceries, and 1x TBP on others spends
  • Redeem your pool of never-expiring TBPs for free goodies or Frequent Flyer Programme miles at the rate of 6,000 TBPs = 1,000 Enrich Miles, and 3,000 TBPs = 1,000 AirAsia BIG Points
  • Enjoy exciting offers, discounts, and privileges at partnering merchants

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Alliance Bank Platinum Credit Card
Card Type : Rewards
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • Earn 3x Timeless Bonus Points on every RM1 spent overseas

    Earn 2x Timeless Bonus Points on every RM1 spent on utilities, petrol, and groceries

    Earn 1x Timeless Bonus Points on all other local retail spends

  • Minimum income – RM60,000 p.a

    Minimum age – 21 years old

    For Salaried Professionals (MNCs/PLCs & Non MNCs/PLCs): Copy of NRIC (both sides) or a valid passport, last 3 months’ salary slip, last 3 months’ bank statement showing salary being credited, latest EPF statement, or latest Borang BE with official tax receipt/bank-in slip

    For Self-Employed Professionals: Copy of NRIC (both sides) or a valid passport, last 6 months’ bank statement, Business Registration Form and Form D or Form 9, 24, 49, latest EPF statement, or tax return form with official tax receipt

  • Annual fee: Principal card – RM438 (with 0% GST). The annual fee can be waived with a minimum spend of RM5,000 p.a. or charging the card at least 12 times within a 12-month period. Supplementary card – Free for life

    Interest rates: 15-18% p.a.

    Late payment charges: The higher amount between 1% of the total outstanding balance and RM10. This charge is limited to an amount of RM100.

Related: 6 Top Travel Credit Cards in Malaysia That Help You Save More

If you’re mad about shopping

10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

Shopping can be therapeutic, provided you know your limits. Get discounts, and make the most of your shopping spends with benefits like cashback and reward points

3. Standard Chartered JustOne Platinum Mastercard (Min. income: RM2000/month)

Some of the key benefits include:

  • Up to 15% cashback (amounting to maximum cashback of RM85) every month on online shopping, petrol, and auto-bill payments
  • Get 0.2% cashback on all other retail purchases
  • Discounts and offers at over 4,000 participating outlets across Asia

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Standard Chartered JustOne Platinum MasterCard
Card Type : Cashback
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • Up to 15% cashback every month on petrol, online shopping, and auto-bill payments

    Get 0.2% cashback on all other retail purchases

    Discounts and offers at over 4,000 participating outlets across Asia

  • Minimum income requirment: RM24,000 p.a.

    Minimum age: 21 years old

    For salaried: Copy of NRIC (both sides), last 1 months’ salary slip and bank statement, last 6 months’ salary slip and bank statement for commission earners, latest EPF Statement, latest Borang BE (Full submission to LHDN)

    For self-employed: Copy of NRIC (both sides), last 6 months’ bank statement and Business Registration Form 9, 24, 49, latest EPF Statement, latest Borang B/BE(Full submission to LHDN).

  • Annual fee: RM250 (Waived for the first year. Subsequent years waived if annual spend over RM20,000), Supplementary card: Free for life

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: Click to Save! 4 Credit Cards with Great Online Shopping Benefits

4. Citi Rewards Visa Signature Card (Min. income: RM5000/month)

Some of the key benefits include:

  • 5x Rewards Points when you make purchases at selected departmental stores and supermarkets
  • 5x Citi Rewards Points on overseas expenses
  • Complimentary access to Plaza Premium Lounge in Kuala Lumpur International Airport
  • 50% off green fees at participating golf clubs
  • Up to RM50,000 overseas personal accident coverage
  • Purchase protection on eligible purchases for 30 days up to maximum RM10,000 per item / RM25,000 per occurrence

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Citi Rewards Card
Card Type : Rewards
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • 5x Citi Rewards points for purchases made at major departmental stores and supermarkets

    5x Citi Rewards points on overseas spends

    1x Citi Reward points on every RM 1 spent locally for all other categories

  • Minimum income-Visa Signature: RM60,000 p.a., World MasterCard: RM90,000 p.a.

    Minimum age: 21 years (principal card)

    For Salaried Employees: Copy of MyKad, latest EPF statement, latest 6 months’ salary slips, latest 6 months’ bank statements, form BE with tax payment receipt

    For Self-Employed Professionals: Copy of MyKad, Business Registration Certificate (ROC & ROB), latest 6 months’ bank statements, form BE with tax payment receipt

  • Annual fee: Principal: RM600 (including 0% GST), Supplementary: RM150 (including 0% GST)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of the outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: 7 Top Rewards Credit Cards that Make Spending More Fun!

If you prefer dining out

10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

Wine and dine like a king at a fraction of the cost with these dining credit cards:

5. Hong Leong WISE Gold (Min. income: RM2000/month)

Some of the key benefits include:

  • Choose two cashback categories from a list of nine as per your lifestyle requirements and earn 10% cashback on them every month (including dining). Total cashback capped at RM100 a month
  • Cashback categories include dining, pharmacies, groceries, petrol, departmental stores, book stores, utilities, entertainment and travel
  • Complimentary tenth cashback category of mobile payments

Related: 7 Top Entertainment Credit Cards for Movie Buffs, Diners, and Shopaholics

6. Citi Cash Back Platinum Card (Min. income: RM5000/month)

Some of the key benefits include:

  • Earn a 10% cash rebate on dining, grocery, petrol transactions and Grab rides capped at RM15 per category per month
  • Get 0.2% unlimited cashback for every RM1 you spend on other retail categories
  • Get discounts and privileges at over 24,000 outlets with Citibank World Privileges
  • Enjoy access to exclusive healthcare packages and a 24-hour Personal Concierge Service

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Citi Cash Back Platinum Credit Card
Card Type : Cashback
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • Upto 10% cashback on petrol, grocery, dining and Grab spends

    Unlimited 0.2% cashback on all other retail spends

  • Minimum income – RM60,000 p.a.

    Minimum age – 21 years old

    For Salaried Employees: Copy of MyKad, latest EPF statement, last 6 months’ salary slips, latest 6 months’ bank statements, and form BE with tax payment receipt

    For Self-Employed Professionals: Copy of MyKad, Business Registration Certificate (ROC & ROB), last 6 months’ bank statements, and form BE with tax payment receipt

  • Annual fee: Principal card – RM195 (with 0% GST). The annual fee will be waived for the first three years if you activate your card within 60 days of approval. Supplementary card – RM100 (with 0% GST)

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of the outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: Bon Appetit! 5 Top Dining Credit Cards That Make Eating Out More Enjoyable

If you enjoy going to the movies regularly

10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

For movie buffs, you’d appreciate free or cheaper movie tickets and discounted refreshments with entertainment credit cards like these:

7. UOB One Card (Min. income: RM2000/month)

Some of the key benefits include:

  • Get up to 8% cash rebates on weekends for various transactions, including the purchases of GSC movie tickets, petrol, groceries, and dining privileges

Related: Credit Cards for Entertainment Perks: 6 Things You Must Consider

8. Citi Clear Card (Min. income: RM2000/month)

Some of the key benefits include:

  • Get a complimentary movie ticket on Fridays when you buy one at GSC
  • Earn 3x Citi Rewards points for every RM1 spent at selected retail outlets in Malaysia

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Citi Clear Card
Card Type : Rewards
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • Earn 3x Citi Rewards points for every RM1 spent at selected retail outlets in Malaysia

    Get a complimentary movie ticket on Fridays when you buy one at GSC

  • Minimum income – RM24,000 p.a.

    Minimum age – 21 years old

    For Salaried Employees: Copy of MyKad latest EPF statement, latest 6 months’ salary slips, latest 6 months’ bank statements, and Form BE with tax payment receipt

    For Self-Employed Professionals: Copy of MyKad, Business Registration Certificate (ROC & ROB), latest 6 months’ bank statements and Form BE with tax payment receipt

  • Annual fee: Principal card – RM90. Supplementary card: RM60. The annual fee will be waived for the first three years if you activate your card within 60 days of approval.

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of outstanding balance subject to a minimum of RM10 and a maximum of RM100

Related: 6 Top Credit Cards with Monthly Income Requirement of RM2,000

If you want to save more on your fuel spends

10 Best Credit Cards for Millennials Based on Their Earnings and Spending Habits

Feeling the pinch whenever you fuel up your vehicle? A petrol credit card is the way to go! It would be nice to get something extra in return for your petrol expenses.

9. Shell-Citi Gold Credit Card (Min. income: RM2000/month)

Some of the key benefits include:

  • Get up to 8% rebate on Shell petrol when you combine all your spending into this card
  • Enjoy offers and privileges at more than 24,000 outlets in Malaysia and across the world with Citi World Privileges

Liked this credit card? Apply for it now on BBazaar Malaysia and get an exciting free gift!

Shell-Citi Gold Credit Card
Card Type : Petrol
Bbazaar promotion : Free Huawei Y6 2018 phone. T&Cs apply
Apply Now
  • Get up to 8% rebate on Shell petrol when you combine all your spending into this card

    Enjoy offers and privileges at more than 24,000 outlets in Malaysia and across the world with Citi World Privileges

  • Minimum income – RM24,000 p.a.

    Minimum age – 21 years old

    For Salaried Employees: Copy of MyKad, latest EPF statement, last 6 months’ salary slips, latest 6 months’ bank statements, and form BE with tax payment receipt

    For Self-Employed Professionals: Copy of MyKad, Business Registration Certificate (ROC & ROB), last 6 months’ bank statements, and form BE with tax payment receipt

  • Annual fee: Principal card – RM195 (with 0% GST). Supplementary card – RM100 (with 0% GST). Annual fee waived for 3 years if new to bank customers activate the card within 60 days of approval

    Interest rates: 15-18% p.a.

    Late payment fee: 1% of the outstanding balance subject to a minimum of RM10 and a maximum of RM100

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

10. PETRONAS Maybank Platinum Visa (Min. income: RM5000/month)

Some of the key benefits include:

  • Get 8x TreatsPoints at PETRONAS
  • Lifetime annual fee waiver with no conditions attached
  • Get access to personal concierge services, invitations to special Platinum events, and an automatic membership to the prestigious Visa Platinum Club
  • Receive a free Maybank Touch ‘n Go Zing card
  • Enjoy discounted rates and redeem your TreatsPoints for travel with Malaysia Airlines – Enrich, Singapore Airlines, etc.

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