Top Credit Cards From Bank Muamalat

Bank Muamalat Malaysia is the second fully operational Islamic bank in Malaysia with Bank Islam Malaysia being the first. Its operation began on 1st October 1999. Bank Muamalat has a general purpose of making access to wealth and overall lifestyle a possibility. The bank has saddled itself with a vision to become the Islamic bank of choice in every household. Bank Muamalat offers several products/services such as savings accounts, current accounts, fixed term accounts, credit cards, online savings and deposits and many more. Credit cards from Bank Muamalat will be our primary focus in this article.

Credit Cards From Bank Muamalat

All of Bank Muamalat credit cards are Sharia compliant and completely free from riba with tawarruq. Bank Muamalat offers four types of credit cards.

1. Visa PLatinum-i

Benefits/Features:

• First Year Annual Fee Waiver – (minimum 12 transactions for subsequent year waiver)
• Unlimited 1% Cash Back on Overseas Spend – (face-to-face retail transaction only)
• 1% Cash Back on e-Commerce Spend – (maximum cashback capped at RM50 per month)
• 0.3% Cash Back on Contactless Spend – (maximum cashback capped at RM50 per month)
• 0% Balance Transfer Plan for 6 Months
• Complimentary Travel Accident Takaful Coverage
• Complimentary Takaful Coverage for Outstanding Balance
• 0% Instalment Payment Plan for 6 & 12 months

Eligibility and Fees:

• Principal – between the ages of 21 and 65 years
• Supplementary – between the ages of 18 and 65 years
• Annual income above RM36,000
• Principal annual fees RM138.00
• Supplementary annual fees RM 68.00

Complimentary Takaful Coverage for Outstanding Balance:

• Death benefits – Maximum of RM100,000
• Total and permanent disablement – Maximum of RM100,000
• Funeral expenses – Fixed amount RM1,000

Documents Required

If employed,

• A copy of MyKad (front & back); and
• Latest 1 month payslip; or
• Latest EPF statement; or
• Latest EA form; or
• Latest BE form

If self-employed,

• A copy of MyKad (front & back); and
• Latest 6 months bank statements; and
• Copy of Business registration; and
• Latest 1 year of Income Tax Assessment (Form B) with official tax receipt

2. Visa Infinite-i

Benefits/Features:

• Lifetime Annual Fee Waiver
• Unlimited 1% Cash Back on Overseas Spend – (face-to-face retail transaction only)
• 1% Cash Back on e-Commerce Spend – (maximum cashback capped at RM100 per month)
• 0.5% Cash Back on Contactless Spend – (maximum cashback capped at RM50 per month)
• 0% Balance Transfer Plan for 6 Months
• Complimentary Travel Accident Takaful Coverage
• Complimentary Takaful Coverage for Outstanding Balance
• 0% Instalment Payment Plan for 6 & 12 months
• Complimentary Access to Plaza Premium Lounge

Eligibility and Fees:

• Principal – between the ages of 21 and 65 years
• Supplementary – between the ages of 18 and 65 years
• Annual income above RM300,000
• Principal annual fees waived
• Supplementary annual fees waived

Complimentary Takaful Coverage for Outstanding Balance:

• Death benefits – Maximum of RM100,000
• Total and permanent disablement – Maximum of RM100,000
• Funeral expenses – Fixed amount RM1,000

Documents Required

If employed,

• A copy of MyKad (front & back); and
• Latest 1 month payslip; or
• Latest EPF statement; or
• Latest EA form; or
• Latest BE form

If self-employed,

• A copy of MyKad (front & back); and
• Latest 6 months bank statements; and
• Copy of Business registration; and
• Latest 1 year of Income Tax Assessment (Form B) with official tax receipt

3. Muamalat Pos Visa Platinum-i

Benefits/Features:

• First Year Annual Fee Waiver – (minimum 12 transactions for subsequent year waiver)
• Unlimited 1% Cash Back on Overseas Spend – (face-to-face retail transaction only)
• 0% Balance Transfer Plan for 6 Months
• Complimentary Travel Accident Takaful Coverage
• Complimentary Takaful Coverage for Outstanding Balance
• 0% Instalment Payment Plan for 6 & 12 months
• 8% Cashback for all transactions at Pos Malaysia terminal counters – (maximum cashback capped at RM100 per month)

Eligibility and Fees:

• Principal – between the ages of 21 and 65 years
• Supplementary – between the ages of 18 and 65 years
• Annual income above RM36,000
• Principal annual fees RM80.00
• Supplementary annual fees RM 68.00

Complimentary Takaful Coverage on Credit-i Outstanding Balance:

• Death benefits – Maximum of RM100,000
• Total and permanent disablement – Maximum of RM100,000
• Funeral expenses – Fixed amount RM1,000

Documents Required

If employed,

• A copy of MyKad (front & back); and
• Latest 1 month payslip; or
• Latest EPF statement; or
• Latest EA form; or
• Latest BE form

If self-employed,

• A copy of MyKad (front & back); and
• Latest 6 months bank statements; and
• Copy of Business registration; and
• Latest 1 year of Income Tax Assessment (Form B) with official tax receipt

4. Muamalat Pos Visa Infinite-i

Benefits/Features:

• Lifetime Annual Fee Waiver
• Unlimited 1% Cash Back on Overseas Spend – (face-to-face retail transaction only)
• 8% Cashback for all transactions at Pos Malaysia terminal counters – (maximum cashback capped at RM100 per month)
• Complimentary Travel Accident Takaful Coverage
• Complimentary Takaful Coverage for Outstanding Balance
• 0% Instalment Payment Plan for 6 & 12 months
• Complimentary Access to Plaza Premium Lounge
• 0% Balance Transfer Plan for 6 Months

Eligibility and fees:

• Principal – between the ages of 21 and 65 years
• Supplementary – between the ages of 18 and 65 years
• Annual income RM300,000 and above
• Principal annual fees waived
• Supplementary annual fees waived

Complimentary Takaful Coverage on Credit-i Outstanding Balance:

• Death benefits – Maximum of RM100,000
• Total and permanent disablement – Maximum of RM100,000
• Funeral expenses – Fixed amount RM1,000

Documents Required

If employed,

• A copy of MyKad (front & back); and
• Latest 1 month payslip; or
• Latest EPF statement; or
• Latest EA form; or
• Latest BE form

If self-employed,

• A copy of MyKad (front & back); and
• Latest 6 months bank statements; and
• Copy of Business registration; and
• Latest 1 year of Income Tax Assessment (Form B) with official tax receipt