Guide to credit cards available for foreigners in Malaysia - how to apply?

If you’re an expat living in Malaysia, building a local credit history can be handy. Plus, using a credit card for expats in Malaysia may also help you manage your costs, earn rewards and unlock extra benefits. So - can foreigners apply for a credit card in Malaysia? And if so, what are the eligibility requirements you need to know about?

This guide to credit cards for foreigners in Malaysia covers all you need to know. Plus, if you’re just looking for easy ways to make card payments in Malaysia and beyond, we’ve also got an alternative - Wise. You can get a Wise international debit card to hold and spend 40+ currencies globally, with no annual fee, and no minimum balance. More on that later.

Can a foreigner apply for a credit card in Malaysia?

Yes. A foreigner can apply for a credit card in Malaysia. However, you’ll usually need to be a legal resident of Malaysia, with a valid visa and proof of ID. You’ll also need to meet all the other standard requirements for the specific card you’re interested in. This usually means proving a fixed level of annual income, and being within the card’s age limit - often 21 years old to 65 years old for the principal card holder. You may also need to hold a current account with the same bank.

Some credit cards in Malaysia may be available to foreigners who are willing to leave a holding deposit with the bank, which may be helpful if you don’t meet the minimum income level for the card you’re interested in.

One final point to note is that some Malaysian banks have slightly different processes to open a credit card account for a US citizen, resident or Green Card holder. This may mean you’re not eligible for online account opening, for example, and you may need to complete some further checks and paperwork to comply with FATCA.

We’ll walk through some of the credit cards available for foreigners in Malaysia, including the eligibility requirements for major banks, in just a moment.

How to apply for a credit card in Malaysia as a foreigner

Before you can apply for a credit card in Malaysia as a foreigner you’ll need to pick the card you prefer and double check your eligibility. We’ll walk through some key points on that next. Once you’ve found the card you want to apply for, you’ll need to figure out if you’re eligible for online account opening. This is commonly offered - even to foreigners in Malaysia - if you already have a current account with the bank you’re applying for a card from.

If you’re not eligible for online account opening, you’ll need to visit a branch. If you can open your credit card account online you’ll need to take the following steps:

1. Navigate to the card you want on the bank’s desktop site or in their banking app
2. Tap Apply now
3. Complete the required personal information, following the prompts
4. Upload images of any documents needed to prove you meet the eligibility requirements
5. Your account will be verified - this may be done automatically if you’re already a customer of that bank
6. Once verified, your card will be sent to you by mail

Not sure which Malaysian credit card may suit your specific needs? Let’s look at some options from major banks:

Maybank credit cards for foreigners

Maybank credit cards¹ for foreigners range from some which offer cash back and extra perks, to cards designed for travel, and some which are aimed at lower income earners. There are also some prepaid or charge cards offered through Maybank which may appeal. Some popular Maybank credit cards for foreigners include:

• Maybank Visa Infinite series cards, including the Maybank Islamic Ikhwan Visa Infinite Card-i
• Maybank Visa Signature credit card
• Maybank American Express Platinum credit card
• Maybank also has a selection of credit cards issued with partners including Manchester United, Grab, Singapore Airlines and Petronas

In total, Maybank has a pretty staggering selection of credit cards, many of which are offered to foreigners who meet the minimum income requirements for the specific card.

Maybank’s eligibility requirements for foreigners

To apply for a Maybank credit card you’ll need to meet the following requirements:

• You must meet the minimum income requirements - these are usually from 24,000 MYR to 100,000 MYR annually
• The principal card holder must be 21 to 65 years old
• You’ll need to provide your valid passport
• You must have a letter from your employer confirming your employment contract and its duration
• You need to show your valid Visa or World Permit
• You’ll need to hold an eligible Maybank account already

CIMB credit cards for foreigners

Popular CIMB credit cards for foreigners² include:

• CIMB Petronas credit cards - including Islamic compliant options
• CIMB Travel World credit cards, which are offered in several different types
• CIMB Visa Infinite cards, available at different tiers

CIMB credit cards for foreigners are all issued on the Mastercard or Visa network, which are both globally accepted.

CIMB’s eligibility requirements for foreigners

To apply for a CIMB credit card you’ll usually need to meet the following requirements. Bear in mind that some specific cards may have their own requirements and supporting documents:

• You must meet the minimum income requirements - these are usually from 24,000 MYR to 100,000 MYR annually
• The principal card holder must be 18 to 65 years old
• You’ll need to provide your valid passport
• You need to show your valid Visa or World Permit

If you’re not eligible for online credit card applications from CIMB you can also apply in a branch.

HSBC credit cards for foreigners

HSBC credit cards³ for foreigners include a selection of basic, premium and reward cards. Most cards have a minimum income requirements, but some HSBC credit card requirements for foreigners are related to holding a set investment with HSBC or buying other products such as insurance.

Some of the HSBC credit cards you may pick as a foreigner in Malaysia include:

• HSBC Travel one credit card
• HSBC Visa signature credit card
• HSBC Platinum credit card
• HSBC Premier Travel credit card

HSBC credit card eligibility requirements for foreigners

You can apply for an HSBC credit card as a foreigner in Malaysia as long as you’re a legal resident and meet the general requirements for the card. Usually this means:

• You must meet the minimum income requirements - these are usually from 24,000 MYR annually and upwards
• The principal card holder must be 21 or older
• You’ll need to provide your valid passport
• You need to show your valid Visa or World Permit

Some HSBC cards require you to have Premier status - this means you’ll have to hold a certain fixed amount with HSBC as savings or in an investment vehicle. Application for this status is separate to the credit card application. Most HSBC cards are offered for online application, although you may need to complete your details and await contact from a member of the HSBC team to confirm how to proceed with your application.

Just looking to make card payments? Consider getting a Wise card - possibly the best debit card for international people

A credit card isn’t always the right option. If you want a flexible, low cost way to make payments in Malaysia and internationally, check out the Wise account and card.

As a debit card, the Wise card doesn’t have a minimum income requirement or credit check - and you don’t have to be a Malaysian national. You’ll just need to add funds in the currency of your choice from 20 or so supported currencies for topping up, and you can spend right away⁵.

You’ll be able to manage 40+ currencies in your Wise account and make payments with your card in 150+ countries around the globe - so the Wise card is also the only card you’ll need to take with you when travelling at home or abroad.

Order your card online or in the Wise app, link to Google and Apple Pay for mobile payments at home and abroad - and manage your account and card right from your phone.

Order your Wise card today!

You’ll also be able to send money to 160+ countries globally with the mid-market exchange rate and low transparent fees from 0.43%⁴, and receive convenient payments in a selection of major currencies with local bank details. Easy.

Use this guide to applying for a credit card in Malaysia as a foreigner to start your research into the right card for you. And don’t forget - as well as your Malaysian credit card, you can also get a low cost, flexible Wise card to pop in your pocket the next time you travel. It’s easy to use to hold, send, spend and receive a broad selection of foreign currencies - with no ongoing fees and no minimum balance.