Best Travel Credit Cards in Malaysia 2024

This guide walks through the best travel credit cards available in Malaysia for 2024 💳

We'll also introduce Wise debit card that you can spend and withdraw money overseas possibly cheaper than your usual banks.

You can spend in-person or online in 150+ countries at the mid-market exchange rate, with zero foreign transaction fees and low & transparent conversion fees.

🔖Table of contents
3 things you should know when spending abroad Get familiar with the exchange rate before you go Avoid dynamic currency conversion costs Check your card’s foreign transaction fee Best Travel Credit Cards UOB PRVI Miles Card MayBank 2 Cards Premier Reserve American Express HSBC Visa Signature RHB World Mastercard Credit Card Wise: the most international debit card 🚀

3 things you should know when spending abroad

Before we dive into the best Malaysian travel credit cards, let’s take a look at some general tips to help you save when you spend overseas.

• Get familiar with the exchange rate before you go

Exchange rates move around all the time thanks to changes in the global currency markets. But having a broad idea of the rate that applies to the country you’re visiting is essential. Get a reputable online currency converter to check the rates from time to time, and take a look at the terms and conditions of your credit or debit card to see how your card issuer tackles currency conversion.

If you’re visiting somewhere that has experienced extreme currency value fluctuations, or just want to know in advance how much your overseas spending will cost you, consider getting a multi-currency account with a linked debit card so you can buy your foreign currency before you head overseas.

• Avoid dynamic currency conversion costs

Dynamic currency conversion (DCC) is where you’re asked by the merchant - or in some cases the ATM you’re making a withdrawal from - if you’d rather pay in your home currency (MYR) or the currency wherever you are. If you choose to pay in MYR you’ll see immediately the costs of your transaction in ringgit - but you’ll also often be hit by excessive fees, and a poor exchange rate.

Avoid this risk by choosing to pay in the local currency every time.

Read also: Dynamic currency conversion

• Check your Malaysian credit card’s overseas transaction fee

Finally, many Malaysian credit cards have overseas transaction fees which apply everytime you make a payment in a different currency. That may be spending or making a withdrawal overseas, or buying something online from an international retailer - and can add up to around 1-2% to the costs you’re paying.

Looking for a better way to avoid foreign transaction fees, lock in exchange rates, or get access to low cost ATM withdrawals? Check out the Wise multi-currency account and card, to top up in ringgit, switch to the currency or currencies you need using the mid-market exchange rate, and spend for free no matter where in the world you may be.

Best Travel Credit Cards

Here are our top picks for the best travel credit cards in Malaysia in 2024. First we’ll look at a head to head overview, then we’ll dive into a few more details about each card to help you identify the best credit card for overseas spending, based on your personal preferences.

Travel credit card	Minimum income	Annual fee	Foreign transaction fee	Rewards
UOB PRVI Miles Card	60,000 MYR	198 MYR	1%	5x rewards on travel and overseas spend
MayBank 2 Cards Premier Reserve Amex	100,000 MYR	800 MYR	3.5%	Extra rewards on overseas spend, plus lots of travel perks
HSBC Visa Signature	72,000 MYR	600 MYR	1%	Up to 8x rewards on overseas spend
RHB World Mastercard Credit Card	80,000 MYR	Free	1%	Up to 6% cash back
Wise card (debit card alternative)	No minimum income requirement	Free	No foreign transaction fee - convert currencies from 0.43%	Limited

UOB PRVI Miles Card

If you’re looking for a travel card with flexible ways to redeem your points you could find the UOB PRVI Miles Card is a good match. Earn high rewards on your daily spending, and then convert to airmiles, gift vouchers, lifestyle products - or use as credit against your annual fee and service charges.

Best for: Flexible ways to redeem your reward points across travel, lifestyle and gift vouchers

UOB PRVI Miles Card
Annual fee: 198 MYR¹ Rewards rate: Up to 5x UNIRinggit rewards on travel and overseas spend Foreign transaction fee: 1% UOB fee + any relevant Visa fee depending on transaction type ² Overseas ATM fee: Cash advance fee up to 5% or 50 MYR (whichever is higher) + any relevant ATM charges Card brands: Visa Intro offer: Daily perks available for cardholders, through UOB partner retailers

MayBank 2 Cards Premier Reserve American Express

Looking for a high earning travel rewards card - and willing to pay a higher annual fee for the privilege? Try the MayBank 2 Cards Premier Reserve American Express. This is a premium travel credit card with rewards and perks for users across dining, golf and a range of travel solutions. You can also earn high reward levels - but there’s a correspondingly higher annual fee in exchange.

Best for: Premium card with higher reward earning opportunities and rewards across dining, travel, golf and more

MayBank 2 Cards Premier Reserve American Express

Annual fee: 800 MYR, waived for first year and if you spend 80,000 MYR/year⁴ Rewards rate: 5 points per 1 MYR spend. Convert 5,000 points to 1,000 Enrich, Krisflyer or Asia miles Foreign transaction fee: 3.5% (2.5% charged by American Express, 1% by the bank) Overseas ATM fee: Cash advance fee up to 5% or 18 MYR (whichever is higher) + any relevant ATM charges Card brands: American Express Intro offer: No annual fee for first year

HSBC Visa Signature

The HSBC Visa Signature card might be a good choice if you expect to pay using your credit card a lot while overseas. There’s a high bonus reward rate on international spending with this card, which can mean you accumulate rewards more quickly if you use it while you travel.

Best for: High rewards on spending while you travel

HSBC Visa Signature
Annual fee: 600 MYR⁵ Rewards rate: 8x rewards on foreign currency spend, 5x on spend with participating local malls Foreign transaction fee: 1% HSBC fee + any relevant Visa fee depending on transaction type Overseas ATM fee: Cash advance fee up to 5% or 18 MYR (whichever is higher) + any relevant ATM charges Card brands: Visa

RHB World Mastercard Credit Card

If you want a travel credit card but you’re wary of paying an annual fee, check out the RHB World Mastercard Credit Card. There’s no annual fee and you can still earn rewards on your spending. The more you spend with the card, the higher percentage return you can earn, across categories like dining, travel and petrol. Perfect for people who travel a lot and use their credit card for lifestyle purchases.

Best for: No annual fee with higher rewards on travel, dining and petrol

RHB World Mastercard Credit Card
Annual fee: Free⁶ Rewards rate: Up to 6% cashback, plus free entry to airport lounges Foreign transaction fee: 1% RHB + any relevant Mastercard fee depending on transaction type Overseas ATM fee: Cash advance fee up to 5% or 15 MYR (whichever is higher) + any relevant ATM charges Card brands: Mastercard

Wise card - The most international travel debit card in the world 🚀

Travel credit cards can be useful - but they also come with fairly high fees for some transactions, including extra charges for foreign spending, and of course interest costs if you don’t pay your bill in full every time.

Instead of using a credit card when you travel, check out the Wise multi-currency account and card. With Wise you can:

• Add MYR to your account for free with local bank details - plus get local bank details for up to 9 other currencies
• Convert to the currency you need with the mid-market rate - or let the Wise card convert for you, with the lowest possible fee
• Convert currencies from 0.43%, with no foreign transaction fee
• Enjoy 2 free ATM withdrawals overseas, up to 1,000 MYR in total each month
• No annual or monthly fees, or minimum balance

Pricing/fees: Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

Get set up and start spending with Wise card in minutes

1. Order your card
Sign up or log in to your Wise account and start your order. All you need is your MyKad or passport.

2. Top up
You can add money using your bank account or FPX, or share your account details to get paid by someone else.

3. Start spending
Get your digital card details and start using them before the physical card arrives. Shop online or in stores anywhere in the world with no hidden fees.

Summary

If you prefer to spend using a credit card, getting one which rewards your everyday purchases with points you can use for treats and travel later makes a lot of sense.

To cut the costs of spending internationally, also check out the Wise multi-currency account and debit card. You can spend your money flexibly at home and abroad with your linked debit card. It couldn’t be easier 💡

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Sources

1. UOB Credit Card Annual Fees & Charges
2. OUB CREDIT CARD FEES & CHARGES
3. Fees and Charges - Credit Cards
4. PRODUCT DISCLOSURE SHEET Date: 1st January 2020 1. What is the product about? 2. What do I get from this product?
5. HSBC Visa Signature
6. Banking Service Charges
7. First year as a public company - Wise

Learn more about Wise card benefits in Malaysia