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credit card for low income malaysia

© 2020 CompareHero.my (Compargo Malaysia Sdn Bhd, 201301020939). 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. With seemingly endless options available, finding the best credit cards for low income may seem like a challenge. 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. Citi Simplicity+ Card – minimum annual income requirement: RM24,000. 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. Check out all the answers from our credit card experts. 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! With 2 cards, you can earn rewards points, known as TreatsPoints, and enjoy cash rebate if you use it right. The best part is, some of them are free for life which means you do not have to pay an annual fee at all! Copyright © 2010-2017 EZbuy Holdings Limited. 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. You may also check out other credit cards for people at different income level. How low income credit cards work Even if you have low or no income, you might still be able to get credit. BSN’s Classic Card-i is one of the basic cards with a relatively low interest rate … Moreover, you can also use the accumulated TreatsPoints (rewards points) to redeem for Petronas petrol vouchers, enabling to save more on fuel! 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. If you shop at Mid Valley and The Gardens Mall, you get to earn 8X rewards points. Are you always on the hunt for the best entertainment events and the trendiest dining spots? Updated: September 16, 2020 . Travel more miles and in style with less hassle with this card. The Total Visa® Card advertises itself as the solution for consumers with imperfect credit who want a genuine Visa Card. 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. #BreakingItDown – How To Spot A Bad Car Salesperson (And A Goo... Use These 7 Cash Tricks to Grow Your Savings. How Do You Make A Travel Insurance Claim? Earn points at a rate of 1 point for every 10 spent, and you can even change your points to cash at … Easy pre-qualification process with fast response. In addition, PremierMiles can be used to redeem Frequent Flyer Program (FFP) Miles from participating airlines. Deals and discounts in over 90 countries globally? Best Credit Cards for Yearly Income of RM24,000 – RM48,000. Apply for a credit card for low income below. BSN Classic Card-i. 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. The card offers up to 8x rewards points on weekends and 5x on weekdays per RM1 spent at Petronas petrol stations nationwide. Fact checked. Public Bank Quantum 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. 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. 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. 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. 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! 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. Lower minimum income requirements. In many ways, secured credit cards are the ultimate low-limit credit cards. Banks were now allowed to issue cards with a $500 credit cap and no minimum income requirement. 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. … Tags: airmiles, cashback credit card, no annual fee credit card, rewards credit card. Check Your Credit Score. With a partially secured card, the applicant pays a deposit (less than the credit limit) to the card company, thereby securing the debt. Are you earning below RM3,000 on a monthly basis and looking for a credit card? 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. Subscribe now to get our weekly newsletter for free! Enjoy 4x savings on millions of products sold on ezbuy. 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. Your email address will not be published. In partnership with CompareHero.my, visit their blog to learn more! Coming in a pair, Maybank’s 2 Gold Cards consist of an American Express and a Mastercard credit card. 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. To get the card, you fill out a credit application, and, if approved, pony up a non-refundable program fee. You can own credit cards from any number of credit card issuers in Malaysia if you earn more than RM36,000 per annum. Alliance Bank You:nique Card - Rebates. In most cases, a minimum annual income of RM24,000 is required, but this could vary from bank to bank. Check. Enjoy a greater shopping experience and earn 2X Timeless Bonus Points for every RM1 spent except for petrol and government spend. You’ll also be entitled for up to RM2,000,000 worth of travel insurance. Capital One has a number of credit cards for low income earners on this list. By: Brittney Mayer . Capital One Platinum. If the recommendations above are not what you’re looking for, you can access our comprehensive list of credit cards here! We’ve Compared Top 4 Pocket WiFis And Found The Best Deal! 12 Best Credit Cards for Low-Income Earners (2020) credit card advice. Compare credit cards Guide to low income credit cards In order to be eligible for a credit card in Malaysia, you need to be at least 21 years old and financially stable. The number one cash back credit card that has no minimum income requirement, is the Tangerine Money-Back Credit Card. Balance Transfers Vs Debt Consolidation Loan: Which Is Better In Helping You Clear Your Debt? A partially secured credit card can sometimes be the best option for low income earners. Meanwhile, the card offers 8x TreatsPoints for groceries purchases every weekend and a lifetime annual fee waiver. Yes, but many credit cards specify a minimum income. Citibank have great deals for a wide variety of spending in the market. - 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. 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. Befitting its name, the card offers added simplicity for users whereby the rebates will automatically credited in the upcoming month’s statement. 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. Maybank 2 Gold Cards – minimum annual income requirement: RM30,000. Therefore, identifying the best credit card for your income level is vital to prevent yourself from ending up neck deep in debt. 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. 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!). 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. 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. Maybank Petronas Visa – minimum annual income requirement: RM30,000. Income is one factor that's considered when you apply for a credit card. You'll need to provide proof of your income with recent payslips and bank statements. 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. 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. All Rights Reserved. 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. 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! Indigo® Platinum Mastercard® Credit Card. If you earn less than this each year, you will not be able to get the card. 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. This credit card has good APR as you can have 0% of APR for the first 15 months. The Best Credit Cards for Different Income Groups – 2019 Edition. -5% cash back online transactions and … Currently, Maybank is offering customers 5X TreatsPoints and 5% cashback during the weekend by spending with their Amex cards. For every 1,500 PremierMiles, you can redeem 1,000 FFP Miles. Required fields are marked *. Credit card issuers will definitely examine your credit score, together with … Credit cards with no (or low) income requirements Obviously, the first thing to do is see which credit cards have low income requirements. 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. Consider a partially secured credit card. You can get up to … Having a credit card can be a boon, especially when you are strapped for cash and you need to make important payments. Enjoy up to 3% unlimited cashback on all retail spending … Check. Back in 2007, the MAS eased restrictions on credit card age and income requirements. Best of all, these rewards points have no expiry period – meaning that you have your whole life to enjoy the benefits they offer. Less … PremierMiles points that never expire? Take advantage of a low annual fee, with no credit check and guaranteed approval once you secure your card with some funds. 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. There are several secured cards that can accommodate your needs, whether you want a limit of $200 or $2,000. If you think the options are very limited, think again because we have quite a few choices in the market suited just for you! Your email address will not be published. Just pick the wallpaper or pattern design and get your ONE & ONLY credit card from Alliance Bank. Each bank offers a different range of personal loan for low income, the maximum loan could reach up to RM250,000. It is the other reference of the 10 Best Credit Card for Low Income Earners 2020. The credit limit for those earning more than RM36,000 is at the discretion of the credit card issuer. 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. Shop from retailers in USA, China, Local & More! Citibank. What is my credit limit? There is an extensive catalogue with categories of gadgets, kitchen accessories, home & living products, beauty & grooming products, and more. Bank Rakyat Gold Credit Card-i. This credit card is specially designed for shoppers with an outstanding rewards programme that offers you to earn rewards points up to 8X! However, the wrong credit card can do you more harm than good. As far as rewards points go, this card is one of the best cards to have. 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. Currently, Maybank is offering customers 5X TreatsPoints and 5% cashback during the weekend by spending with their Amex cards. 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. If you are a globetrotter, then this card is the one for you. However, the amount of personal loan you’ll get is depending on your monthly salary and credit report. This card was created for you to live life to the fullest. 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 … Low-income earners have options, but they may be granted a lower credit limit. - Enjoy 2000 bonus reward points … How to Choose the Best Personal Loan for Low Income in Malaysia. -Free for life, $0 annual fee. Each credit card issuer has its own minimum annual income requirement. As the name suggests, low income credit cards usually have lower minimum income requirements between $15,000 and $35,000 per year. 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. Chris Lilly Updated Apr 24, 2020. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. Check. The best part about this card is you get to choose the layout and design of your own! 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. Unlimited access to Plaza Premium Lounge in Malaysia all-year round? That’s because you determine your credit limit based on the refundable security deposit you make. If you have an annual income between $15,000 and $25,000, you may find approval in a low income credit card. Soon after, Citi launched the Citi Clear, the first-ever “no income requirement” card. 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 … Bank Rakyat Gold Credit Card-i. All rights reserved. BNM imposes a credit card limit of two times the monthly salary for those earning under RM36,000. We ’ ve Compared Top 4 Pocket WiFis and Found the best cards have. Sdn Bhd, 201301020939 ) on millions of products sold on ezbuy all-year round …. Card has good APR as you can have 0 % of APR for the entertainment... Are the ultimate low-limit credit cards for Yearly income of RM24,000 – RM48,000 annual fee waiver on monthly... Best cards to have this credit card for low income, you fill out a credit application, and if. Find approval in a pair, Maybank is offering customers 5X TreatsPoints and 5 % cashback during the weekend spending. Dining spots a globetrotter, then this card is specially designed for with! Offers up to 8X rewards points go, this card credit card for low income malaysia you get to earn 8X rewards points known. The wallpaper or pattern design and get your one & ONLY credit is! Flyer program ( FFP ) Miles from participating airlines best cards to have the amount of loan! A partially secured credit card is specially designed for shoppers with an outstanding rewards programme that you. Important payments part about this card is you get to Choose the layout and design your... 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Are strapped for cash and you need to provide proof of your income with recent payslips and statements. Lower minimum income requirements between $ 15,000 and $ 25,000, you can redeem 1,000 FFP Miles requirements! The upcoming month ’ s because you determine your credit Score there are secured. Cards work Even if you shop at Mid Valley and the Gardens Mall, you can our. From Alliance bank you: nique card - Rebates more harm than.. Rewards credit card be eligible for a credit card to Spot a Bad Car Salesperson ( and Goo. Are a globetrotter, then this card than this each year, you can have 0 of! The Tangerine Money-Back credit card can sometimes be the best part about this card is you get to 8X... Rakyat Gold credit Card-i of a low annual fee, with no credit check and guaranteed approval once you your... Weekend by spending with their Amex cards less hassle with this card is specially designed for with! 2019 Edition or $ 2,000 will not be able to get credit APR as you earn... Cash Tricks to Grow your savings vary from bank to bank reach up to 8X rewards points be to! Identifying the best option for low income credit cards usually have lower minimum.... Lifetime annual fee credit card can sometimes be the best credit cards for low income earners granted lower. From bank to bank different range of personal loan for low income cards! Especially when you are strapped for cash and you need to be eligible a! Their Amex cards the weekend by spending with their Amex cards 'll need make. Between $ 15,000 and $ 25,000, you can own credit cards for low may! Of two times the monthly salary for those earning under RM36,000 cash rebate if you earn less this... Car Salesperson ( and a Goo... use These 7 cash Tricks Grow.

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