Islamic Card

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Islamic Cards

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Best Islamic Credit Cards In Malaysia

An Islamic credit card is a Shariah-compliant line of credit available to Malaysians of all religious backgrounds. The card charges a profit rate rather than an interest rate. Other terms and conditions associated with these Shariah-compliant cards include that they are subject to annual fees under Urjah and that cardholders exclusively use them on halal purchases.

However, an Islamic credit card has multiple benefits and privileges or rewards for you, including reward points, cashback, and Takaful coverage. Moreover, some Islamic credit cards charge no annual fee. So which is the best Islamic credit card? Explore the Visa, Mastercard, and Platinum credit card-i options below.

The Bank Islam Visa Credit Card-i is among the Islamic credit cards in Malaysia with the best rewards when you spend on various categories. Such categories include groceries, dining, entertainment, petrol, travel, shopping, and utilities. 

For starters, you get 5% cash back on this card if you use an Islamic card from the bank to pay for petrol, and the cashback is not attached to a minimum spend amount. Second, you earn 5X AM bonus reward points on the card for every overseas spending using this card. 

Additionally, you earn 2X AM bonus reward points on your card in the other categories. Also, this card comes with exclusive dining privileges in a partner restaurant of your choice, including exclusive Plaza Premium lounge access. Other rewards associated with this credit card include amazing daily deals on essentials as part of the Amazing 30 campaign and Takaful insurance on travel.

The Islamic credit card-i is annual fee-free, although it features a 15% profit rate. You can only apply for this credit card if you are at least 21 years for the principal holder and 18 years for the complimentary card holder. Second, you must have a minimum annual income of RM120000. Other terms and conditions include an easy payment plan with up to 36 months in installments.

The BSN Classic Card-i is the best Islamic credit card Malaysia offers in terms of low-profit rates. It features a 13.5% per annum profit rate, and the bank waives annual fees for a minimum of 12 swipes within a year. 

Additionally, BSN bank offers a complimentary Zing plusmiles card to your BSN Classic credit card-i for spending on Touch-and-go meters. Moreover, this credit card automatically reloads RM100 to your Zing plusmiles card should the latter's balance fall below RM 50. It also includes Takaful coverage of up to RM300000 if you use it for travel.

Although the card does not charge annual fees when you make a minimum of 12 swipes in a year, there will be a late payment charge of RM10 or 1% of the outstanding balance up to 50RM. Nonetheless, the credit card has a flexible payment plan for all cardholders, accommodates balance transfers for up to 48 months, and will not charge a one-time handling fee.

You can apply for this card if your minimum annual income is to the tune of RM120000 per annum or M20000 per month. However, while this card earns you up to 2X reward points when you spend on any specified category, it does include cashback in any category.

RHB Bank’s visa rewards credit card is among the Islamic credit cards in Malaysia, charging no annual fee. Besides being free of fees, it is the best credit card for retail as you can earn up to 10X reward points when you spend on retail purchases, and there is no cap on the reward points you can earn. However, the reward points expire in three years.

The retail categories eligible for reward points include groceries, petrol, entertainment, shopping, dining, travel, utilities, and health and insurance. However, this card does not include cash back on any eligible retail category. 

Other benefits and privileges include visa e-commerce purchase protection for purchases damaged on delivery. The card’s terms and conditions include a balance transfer interest rate of 4.99% for up to 36 months and charge no one-one handling fee. They also include an easy payment plan for up to 24 months under the RHB smart installment plan.

Being an Islamic card, RHB bank charges a 15% profit rate on this card. Eligibility for this Islamic credit card is a 21-year age limit for the principal cardholder and 18 years for the supplementary cardholder. 

The Maybank Islamic IkwanAmerican Express Platinum credit card-i offers reward points on unique categories, including when you spend on insurance providers, utilities, and education institutions. You can earn 1X reward points for every RM1 spent in the above institutions, although this card has no cashback.

Second, the Maybank Islamic platinum credit card includes a balance transfer payable for up to three years. The card also includes an easy payment plan under the Maybankard Ezypay plus card. 

Eligibility for this platinum credit card is an annual income of RM60000. The card charges a 15% per annum profit rate but is free of any annual fee.

Choose One Now


A credit card is a convenient tool for people to pay for purchases today, offering many perks and rewards that can add up to more savings for the cardholders.

Today, consumers often use credit cards as payment for their purchases since they are convenient and often come with benefits and incentives that can result in additional discounts for cardholders. With a wide variety of these cards with various advantages, you might ask how to pick the ideal one for your financial needs. We have collected the following FAQ to enable you to understand the most relevant questions regards credit cards, including user conditions, interest rates, and primary payment terms.

Here’s a short guide LOANPANDA has compiled to help you understand the credit card requirements, interest rates and basic payment terms.

Credit cards are financial tools that allow you to complete retail purchases without using cash. Malaysian lending institutions offer conventional and Islamic credit cards. Islamic credit cards charge a profit rather than an interest rate. You can borrow credit up to the tune of twice your monthly salary on credit cards and withdraw a specified cash advance of the total debt amount when you apply for a credit card.

However, credit cards have specific terms and conditions alongside their privileges and rewards like cashback and reward points for spending. Some credit cards charge an annual fee, while others have no annual feel attached. 

Banks utilize a tier system based on annual income to decide whether you qualify for a specific credit card. The lowest tier is the gold credit card, followed by the platinum credit card and an infinite credit card for Malaysian with the highest annual income.

Credit cards are an invaluable financial tool if used wisely. Below is an overview of the benefits of a credit card in personal finance.

  • First, credit cards allow the cardholder to establish a credit history and raise their credit score. They are especially useful for supplementary cardholders whose age locks them out of conventional loans. 
  • Second, they allow individuals to supplement their income, especially with the cash advance feature.
  • Third, cardholders earn rewards and privileges, including redeemable reward points and cash back on specified retail categories.
  • Mastercard and Visa credit cards enjoy global acceptance and allow cardholders to shop for items overseas. Moreover, some credit cards give bonus reward points on your overseas spending.
  • Credit cards allow you to cater to financial emergencies
  • Some credit cards give back to the community via charities.

However, credit cards are only helpful if used wisely by paying the debt on time and maintaining a low debt-service ratio (DSR).

A Malaysian citizen can either apply for a credit card as a principal card owner or a supplementary card holder. Malaysian banks require that you must be at least 21 years old when you apply for a credit card as a principal cardholder and at least 18 years old as a supplementary cardholder. However, banks and other lending institutions may impose other terms and conditions, including a minimum annual income.

The principal card is the primary card you apply for directly with the bank or lending institution and will be exclusively accessible to the primary cardholder. On the other hand, a supplementary card differs from the principal card in that it is a second-tier card tied to a primary card.

Therefore, the principal cardholder can assign the supplementary card to a secondary cardholder like a family member (spouse, children, parents) or other trusted parties. The principal card has a higher age limit (21 years) than a supplementary card (18 years), and a supplementary card leverages a good credit history but is exempt from a bad credit history.

The Central Bank of Malaysia dictates that anyone applying for a principal credit card must have an annual income of at least RM 24000 and can pay the debt back to the bank. Moreover, it states that if, for some reason, you cannot declare how much you make annually, you must deposit an amount equal to the credit card’s limit during your application, or you will not qualify for the credit card. The rule applies to conventional and Islamic credit cards.

Malaysia’s central bank dictates that any Malaysian with an annual income not exceeding RM36000 is eligible for a credit card not exceeding two and a half times their monthly income. The rule applies to all lending institutions, including those issuing Islamic credit cards. 

However, banks make exceptions for individuals with an annual income above RM36000 and decide the credit card limit for such applications. Therefore, the credit limit on credit card applications for all Malaysians depends on their annual income.

Your annual income also dictates the maximum number of credit cards you can have under your name. Bank Negara Malaysia dictates that all Malaysians earning an annual income below RM36000 can only have credit cards from two lenders (banks or otherwise).

On the other hand, you can have as many credit cards as lenders are willing to give if your annual income exceeds the stipulated income bracket. Nonetheless, you can apply for more than one credit card in the same bank or lending institution, provided they will be willing to accept your application.

The interest rate, or profit rate in Shariah-compliant Islamic credit cards, varies among lending institutions. Moreover, lenders add an interest rate on the outstanding balance when the cardholder delays or defaults on payment. Lender terms and conditions also include other interest rates, including an interest rate on a balance transfer and a cash advance on a credit card.

The minimum monthly repayment plan depends on the total debt owed on your credit card. However, a cash advance on credit cards carries a minimum monthly payment of no less than 5% of the total amount. Nonetheless, you can use Loanpanda to compare the minimum repayment amount on different credit cards and choose the best amount for you.

Banks and other lenders dictate the maximum cash withdrawal, expressed as a percentage, that you can make on your credit card in the form of a cash advance. However, a cash advance includes an additional interest rate besides the interest or profit rate per annual on the credit card.

Banks and other credit card companies impose an interest rate as a penalty on all delayed payments. However, Islamic credit cards carry a significantly lower penalty than contemporary credit cards. Nonetheless, missing a payment affects your credit score and can cause lenders to reject your application when you apply for another credit card.

The annual fee varies among lending institutions. Moreover, some credit cards like Maybank Islamic and RHB Islamic credit cards do not charge an annual fee. Also, other credit cards

base the annual fee on certain terms and conditions, including waiving the fee if you achieve the stipulated minimum spending.

alaysia’s banks and credit card companies typically issue globally acceptable credit cards, including Mastercard, Visa, American Express, and Platinum-i credit cards.

Use LoanPanda to compare and establish the necessary documents and other terms and conditions for each credit card type.