If you have a Malaysia credit card then you know that what you borrow you must pay back. Having the card often seems fun until it comes time to make a Malaysia credit card payment! In Malaysia most credit cards have a low interest rate of 13.5 percent. This is meant for tier 1 cardholders. This rate was dropped from 15 percent in 2009.
Malaysia Credit Card Categories
In Malaysia credit cards are broken down into three categories. There is the classic card, the gold card and the platinum card.
- The classic card is geared towards people who have average incomes and/or those who have low credit ratings.The gold card is for those with good incomes and or credit ratings that are good and strong.
- A person who obtains a gold card will be offered an adequate degree of travel accident/inconvenience coverage. A gold card also offers a tremendous array of reward programs.
- A platinum card is meant for the most affluent of individuals and often comes by way of special invitation only. These cards offer lots of superior benefits in the form of exclusive offers for restaurants, premiere hotels, airlines and concierge services.
Malaysian credit cards offer different features to different people. There are co-branded credit cards that are offered in conjunction with a variety of service providers and retail brands. These types of credit cards offer exclusive offers as well as special discounts. There are also reward cards that offer rewards to cardholders. There is cash back, points, and in some cases, shopping rewards made on purchases. If you travel frequently then you can also receive rewards that come by way of airline miles.
A Malaysia credit card payment made online is one of the simplest and easiest ways to pay your bill. If you are use to banking online then learning to pay your credit card online should be no problem at all.
All balance transfer credit cards in Malaysia come with a low annual percentage rate (APR). Some come with a zero APR while others offer low rates on their balance transfers. If you are a student or if your son or daughter is a student and would like to apply for a Malaysia credit card then there are student credit cards that are suitable for both high school students as well as college students. All of these cards come with low credit limits because students are less likely to be careful about how much credit they are using and the money they are spending.
