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Credit Card Malaysia 2026 — Complete Guide

Everything about credit cards in Malaysia — BNM-regulated interest rates, minimum income thresholds, annual fees, service tax, and market statistics. Sourced from Bank Negara Malaysia (BNM) guidelines.

Cards in Circulation

9.9M

BNM 2024

Transaction Value

RM200B+

2023 annual

Interest Cap

18%

BNM regulated

Min Income

RM24k

BNM mandate

Minimum Income by Card Tier

BNM mandates RM24,000 annual income floor for all credit card applicants. Card tiers above this are set by individual banks.

Card TierAnnual IncomeMonthly Equivalent
Basic / ClassicRM24,000RM2,000
GoldRM30,000RM2,500
PlatinumRM60,000RM5,000
SignatureRM60,000RM5,000
World / World MastercardRM100,000RM8,333
Visa InfiniteRM100,000RM8,333
World Elite / ReserveRM190,000RM15,833
→ Full minimum income guide by bank

BNM-Regulated Interest Rates

Rates are CAPPED by BNM — all banks charge the same maximum. Since 2008, unchanged.

TierRate (p.a.)Criteria
Tier 115%Prompt payment 12/12 months
Tier 217%Prompt payment 10/12 months
Tier 318%Default tier — missed payments or new cardholders

Cash Advance

18% p.a. + fee 5% or RM15 (whichever higher)

Late Payment

1% of outstanding, min RM10, max RM100 (BNM cap)

→ Full interest rate breakdown + how to qualify for Tier 1

Typical Annual Fees

Most cards offer fee waivers on spend threshold (e.g., 12 swipes per year). Service tax RM25/principal card + RM25/supplementary is separate.

Card TierPrincipalSupplementary
Classic / GoldRM0 – RM95RM0 – RM50
PlatinumRM0 – RM250RM0 – RM100
Signature / WorldRM388 – RM600RM150 – RM300
Visa InfiniteRM600 – RM800RM300 – RM400
World Elite / ReserveRM800 – RM1,500+RM400 – RM800

Major Credit Card Issuers

Maybank

Maybank 2 Cards, Visa Infinite, World Elite

CIMB

Cash Rebate Platinum, Travel Visa Infinite, Preferred

Public Bank

AIA PB Visa Gold, Quantum, Visa Infinite

Hong Leong

Wise Gold, Emirates World, World Elite

RHB

Shell Visa, Rewards Platinum, Premier Visa Infinite

AmBank

Bonuslink Visa, Enrich Visa Infinite

Standard Chartered

WorldMiles World, Priority Visa Infinite

HSBC

Amanah MPower, Visa Signature, Premier Mastercard

UOB

One Card, Privi Miles, Reserve

Frequently Asked Questions

What is the minimum income to apply for a credit card in Malaysia 2026?
Bank Negara Malaysia (BNM) mandates RM24,000 annual income (RM2,000/month) as the minimum for first-time credit card applicants — this applies to all banks. Tier-specific minimums: Classic RM24,000, Gold RM24-30,000, Platinum RM60,000, Signature/World RM60-100,000, Visa Infinite RM100-150,000, World Elite RM190-240,000. Some banks accept joint income assessment for married couples.
What is the credit card interest rate in Malaysia?
BNM-regulated maximum rates since 2008: Tier 1 (prompt payment 12/12 months) = 15% p.a., Tier 2 (prompt 10/12 months) = 17% p.a., Tier 3 (default) = 18% p.a. These caps apply to ALL banks — the numbers are the same regardless of issuer. Cash advance: 18% p.a. + fee 5% or RM15 min. Late payment: 1% of outstanding, min RM10, max RM100.
How many credit cards are there in Malaysia?
As of 2024 (latest BNM data): ~9.92 million credit cards in circulation. Annual transaction value exceeded RM200 billion in 2023. Credit cards account for ~3% of Malaysia's RM1.65 trillion household debt. Banking system NPL ratio remained low at 1.4% (Dec 2025). Malaysia's household debt-to-GDP is ~85% — 2nd highest in ASEAN.
Is there service tax on credit cards in Malaysia?
Yes — RM25 per principal card per year, RM25 per supplementary card per year. Rate unchanged since SST re-introduction in September 2018. From 1 October 2025, the 8% SST expansion applies to cash advance fees, statement retrieval fees, and Cash Instalment Plan fees — not to the annual fixed RM25 card tax.
Can foreigners apply for credit cards in Malaysia?
Yes, but with stricter conditions: Malaysia work permit (EP/PVP), minimum 6-12 months remaining on pass, fixed deposit collateral often required (RM10,000-50,000), income requirements typically 1.5-2x citizen rates. Standard Chartered, HSBC, Citi (now UOB), and Maybank are most foreigner-friendly. PRs have similar requirements to citizens.

Data Source

Rates and limits sourced from Bank Negara Malaysia (BNM) Guidelines on Credit Card Operations and BNM Payment Statistics. Service tax rates from Royal Malaysian Customs. Last reviewed: January 2026.

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