How to Get Approved for a Credit Card with Bad Credit in Malaysia (2025)
Having bad credit in Malaysia can make it challenging to get a credit card, but it is not impossible. Many banks and financial institutions offer secured and alternative credit card options designed for individuals with low credit scores. This guide will walk you through how to improve your approval chances, the best options available, and alternative solutions.
1. Understand Why Your Credit Card Application Was Rejected
Before applying for a new credit card, identify why you were previously rejected. Common reasons include:
π΄ Low credit score (Below 580)
π΄ Missed or late payments on past loans/credit cards
π΄ Too much outstanding debt (high credit utilization)
π΄ Low or unstable income
π΄ Too many recent applications for credit cards or loans
π Fix: Get a copy of your CCRIS (Central Credit Reference Information System) or CTOS report to check your credit history before applying for a new card.
2. Best Credit Card Options for Bad Credit in Malaysia
If you have bad credit, regular credit cards may not be an option. Instead, consider secured credit cards or credit-building options:
πΉ Secured Credit Cards
A secured credit card requires you to place a fixed deposit (FD) as collateral. The credit limit is usually 70-100% of the FD amount.
| Bank | Secured Credit Card | Deposit Requirement | Annual Fee | Who It’s Best For? |
|---|---|---|---|---|
| Maybank | Maybank 2 Cards (Gold) | RM2,000 FD | Free for life | Those who want cashback & points rewards |
| CIMB | CIMB PETRONAS Platinum | RM1,500 FD | RM100 | Frequent drivers & fuel spenders |
| RHB | RHB Cash Back Credit Card | RM3,000 FD | RM120 | Cashback seekers |
| Public Bank | Public Bank Visa Classic | RM1,000 FD | RM90 | Basic credit-building users |
Benefits of Secured Credit Cards:
β
Higher approval rate
β
Helps rebuild credit score
β
Can upgrade to an unsecured credit card later
πΉ Prepaid & Alternative Credit Cards
These cards do not require credit checks and work like debit-credit hybrids:
- BigPay Visa Card β No credit check, comes with discounts & cashback
- Wise (formerly TransferWise) Mastercard β Ideal for international spending
- AEON Member Plus Visa β Suitable for AEON shoppers
π Fix: If you cannot get a secured card, consider prepaid credit cards to manage expenses while improving your credit score.
3. Steps to Get Approved for a Credit Card with Bad Credit
πΈ Step 1: Check & Improve Your Credit Score
β
Get your CCRIS & CTOS report (available from Bank Negara Malaysia & CTOS website)
β
Settle overdue payments before applying
β
Reduce credit utilization (keep below 30% of your credit limit)
β
Avoid applying for multiple loans/cards in a short period
πΈ Step 2: Apply for a Secured Credit Card
πΉ Choose a bank offering secured credit cards
πΉ Open a fixed deposit account (RM1,000βRM3,000 recommended)
πΉ Request a secured credit card linked to your FD
πΉ Use the card responsibly to improve your credit history
πΈ Step 3: Show Proof of Stable Income
πΉ If youβre self-employed or a freelancer, provide:
β
Bank statements (3-6 months)
β
Income tax documents (LHDN e-Filing)
β
EPF contributions (KWSP i-Akaun statement)
π Tip: Some banks like Maybank & CIMB approve applications with alternative income proof.
πΈ Step 4: Apply for a Basic or Prepaid Credit Card
If a secured credit card is not an option, go for a basic credit card that requires low income, such as:
- BSN Classic Visa/MasterCard (Min income RM2,000)
- AEON Classic Visa/MasterCard (Min income RM1,500)
These cards offer low credit limits but are easier to get.
4. How to Rebuild Your Credit Score Faster
To qualify for a better credit card in the future, follow these credit-building strategies:
β Make payments on time β Always pay at least the minimum amount before the due date
β Keep your credit utilization low β Try to use only 30% of your credit limit
β Limit new credit applications β Avoid applying for multiple loans or cards in a short period
β Check your CCRIS/CTOS report regularly β Monitor your credit health
5. Final Thoughts: Can You Get a Credit Card with Bad Credit in Malaysia?
Yes! Even with bad credit, you can still get a credit card in Malaysia by choosing a secured credit card or prepaid alternative. If possible, improve your credit score before applying to get better approval chances.
π Best Strategy:
β
Start with a secured credit card β Use responsibly β Improve credit score β Upgrade to a normal credit card later
By following these steps, you can regain financial control and qualify for better financial products in the future. π
