Can foreigners apply for a credit card in Malaysia? Read more here about the process and available options from Maybank, CIMB, SC and HSBC
Not sure which Public Bank® credit card to apply for in Malaysia? This guide has you covered. We’ll look at conventional and Islamic card options, including cards with lifestyle and travel benefits and options to earn rewards.
Join us as we review 5 popular Public Bank credit cards, and walk through how you can apply for your new card online. Because credit cards aren’t always the right choice, we’ll also touch on Wise - for a debit card that’s ideal for travel, with the mid-market exchange rate and low, transparent fees.
|Minimum annual income / eligibility²||Annual fees³||Cashback / rewards||Interest rates³||Foreign transaction fees³|
|PB Visa Platinum Credit Card||50,000 MYR/year||333 MYR||0.2% cash back + travel insurance||15% - 18% depending on personal card use||Network rate + 1.25%|
|PB Visa Infinite Credit Card||100,000 MYR/year||No annual fee||2% rebate on overseas spending, 0.3% on local spend + travel insurance||15% - 18% depending on personal card use||Network rate + 1.25%|
|Public Islamic Bank Visa Platinum Credit Card-i||40,000 MYR/year||333 MYR||4% cash back on online and overseas spending||15% - 18% depending on personal card use||Network rate + 1.25%|
|PB-Petron Visa Gold Credit Card||24,000 MYR/year||No annual fee||Up to 5% cash back on spending at Petron service stations + accident insurance||15% - 18% depending on personal card use||Network rate + 1.25%|
|PB Quantum Credit Card||36,000 MYR/year||No annual fee||2% cash back on either contactless or overseas spending, depending on the card you select||15% - 18% depending on personal card use||Network rate + 1.25%|
Before you apply for a Public Bank credit card it’s worth comparing a few different options to get the right fit for your preferences and spending patterns. Banks like PBE have a selection of both conventional and Islamic card choices, which can offer ways to earn cashback, rewards and rebates, or which come with perks and benefits when you spend. However, there are also costs which you’ll need to think about to help you pick the best balance for you.
Here are some important points to consider when you choose the right card for your needs:
- Minimum income - the cards we’ve looked at from PBE have minimum incomes ranging from 24,000 MYR to 100,000 MYR, so you can pick the one that suits you
- Annual fee - fees can vary - some cards waive all annual charges without conditions, some have fees only if you don’t meet certain eligibility or usage requirements, and others have fixed annual costs you can’t waive
- Interest rates - interest rates for PBE range from 15% to 18% and depend on how you use your card and your repayment behaviour
- Rewards and cash rebates - PBE cards have a mixture of cash back and other offers, such as will writing discounts and airport lounge access
- Insurance - several of the popular Public Bank credit cards we’ve profiled here have some free travel or accident insurance which comes as part of the card package
Weigh up the annual fee you’ll need to pay for your card, along with the interest, cash advance and penalty fees that can apply, to see which card might suit you best. Credit cards aren’t your only option - and they can come with fairly high charges depending on which one you pick and how you spend. Take a look also at debit cards, including specialist cards from providers like Wise which have been designed to help customers cut the costs of overseas spending. We’ll touch on Wise - and how a Wise card could help - a little later.
If you want a card with a fixed cash rebate on all spending, the PB Visa Platinum Credit Card⁴ may suit you.
Take a look at the popular PB Visa Platinum Credit Card for fixed cash back and a good travel insurance coverage which comes as part of the deal. There’s a 333 MYR annual fee to pay, but you’ll earn 0.2% cash back on your spending.
The PB Visa Infinite Credit Card⁵ has a fairly high minimum income requirement, at 100,000 MYR/year. However, there’s a strong cash back offer, particularly when you’re abroad.
There’s no annual fee for the PB Visa Infinite Credit Card, but you’ll need to meet a fairly high 100,000 MYR annual income requirement to have your application accepted. Once you have a card the rewards on overseas spending are pretty strong at 2%, although there’s also a 1.25% foreign transaction fee to pay when you’re using a foreign currency.
If you want a Shariah compliant card with benefits for online and overseas use, the Public Islamic Bank Visa Platinum Credit Card-i⁶ may suit you.
There’s a 40,000 MYR annual income requirement for the Public Islamic Bank Visa Platinum Credit Card-i, and an annual fee of 333 MYR, but you’ll be able to earn a strong 4% cash back on online and overseas spending. That can make this a good pick if you want a card mainly for digital use - there’s also some free airport lounge access included as part of the package.
You can earn a variable cash back on Petron service station spending, of up to 5%, with the PB-Petron Visa Gold Credit Card⁷.
The PB-Petron Visa Gold Credit Card rewards spending at Petron service stations, which can mean you get up to 5% cash back based on your spending pattern. There’s no annual fee to worry about and this card has one of the lowest income requirements of any PBE card, making it well worth a look.
Get a PB Quantum Credit Card⁸ on either the Visa or Mastercard network, with different cash back offers for each.
You can choose a PB Quantum Credit Card on the Visa network to unlock cash back on contactless transactions, or pick a card on the Mastercard network to get money back when you spend overseas. Both Visa and Mastercard are globally accepted, so you can pick the network which offers the best rewards based on your spending habits.
Bring the Wise card - the most international debit card in the world - along with you when travelling or shopping abroad
Credit cards aren’t always the best option, particularly if you’re spending overseas. PBE cards have a foreign transaction fee of 1.25% when you use a foreign currency, which can push up costs. Instead, check out the Wise account and card, for low cost international spending with the mid-market exchange rate.
Plus, because the Wise card is a debit card, there’s no interest to pay and no late charges to worry about. You can also get somefee free ATM withdrawals every month, with low fees after that.
You can apply for a PBE credit card online if you have an acceptable proof of ID and income, and if you’re over 21 years old.
Here’s how to apply for a Public Bank credit card:
- Head to the CIMB desktop site and select credit cards
- Tap Apply for PB cards, which is on the top right menu
- Complete the personal information requested
- Follow the prompts to upload the required documents
- Once your account is verified, your card will be posted to your home address
- Public Bank Credit Cards
- PBE Card - minimum income
- PBE Card fees
- PB Visa Platinum Credit Card
- PB Visa Infinite Credit Card
- Public Islamic Bank Visa Platinum Credit Card-i
- PB-Petron Visa Gold Credit Card
- PB Quantum Credit Card
Sources checked on 30/06/2023
This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.
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