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All credit card limits and offers shown are indicative and based on general eligibility criteria provided by banks in Malaysia. They do not represent a guarantee of approval or the final credit limit that may be granted. All credit card applications are subject to the bank’s internal assessment, verification, and final approval.

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A Complete Guide to Credit Card in Malaysia

A Credit Card is a financial tool that allows users to make purchases or access funds on credit up to a pre-approved limit. Cardholders repay the borrowed amount later, either in full or through monthly installments. Credit cards offer convenience, reward points, cashback, and secure transactions.

What is a Credit Card Repayment?

A Credit Card Repayment is the process of paying back the amount you owe on your credit card to the bank or financial institution that issued it.

A Credit Card Repayment is the process of paying back the amount you owe on your credit card to the bank or financial institution that issued it. When you use a credit card, you’re borrowing money from the issuer to make purchases. At the end of each billing cycle (usually monthly), you receive a credit card statement showing:

  • The total outstanding balance (the total amount you owe)
  • The minimum payment due (the smallest amount you must pay to avoid penalties)
  • The due date (the last date to make payment)

Home loan repayments are usually made monthly and consist of two parts:

1

Full Payment

Paying the entire outstanding balance before or on the due date.

2

Minimum Payment

Paying only the minimum due (often 3–5% of your balance).

3

Partial Payment

Paying more than the minimum but less than the total balance.

How Credit Card Repayments Work

Credit card repayments work by paying back the money you’ve borrowed from your card issuer for purchases made during a billing cycle. Each month, you receive a statement showing your total outstanding balance, minimum payment due, and due date. You can choose to pay the full balance (avoiding any interest), make a partial payment (paying some interest on the remaining amount), or pay only the minimum due (resulting in higher interest costs over time). If you miss a payment, you may face late fees, higher interest rates, and a negative impact on your credit score. Paying your balance in full and on time is the best way to manage a credit card responsibly and avoid unnecessary charges.

FAQs

A credit card is a payment card issued by a financial institution (like a bank) that allows you to purchase goods and services on credit. Unlike a debit card, which uses your own money from a savings account, a credit card allows you to borrow money from the bank up to a pre-set limit to pay for transactions. You are billed for these purchases once a month. If you pay the full amount by the due date, you generally do not pay any interest. However, if you only pay a portion, the remaining balance will incur interest charges (typically 15% – 18% per annum).

In Malaysia, eligibility generally depends on your age, income, and employment status. Most banks require you to be at least 21 years old (or 18 for a supplementary card) and earn a minimum annual income of RM24,000.

You will typically need to submit the following documents:

For Salaried Employees:

  • Identity: Copy of NRIC (MyKad) (front and back).

  • Income Proof: Latest 3 months’ salary slips OR latest EPF (KWSP) statement.

  • Bank Statement: Latest 3 months’ bank statements showing your salary being credited.

For Self-Employed / Business Owners:

  • Identity: Copy of NRIC (MyKad).

  • Business Proof: Copy of Business Registration (SSM) forms.

  • Income Proof: Latest 6 months’ company bank statements AND/OR latest Form B/BE with tax receipt.

For Foreigners (Expats):

  • Copy of Passport.

  • Valid Work Permit (usually with at least 6–12 months validity remaining).

  • Letter of Employment confirming your contract duration.

  • Note: Minimum income requirements for foreigners are usually higher (e.g., RM10,000/month).

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