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A charge card is a payment card with a preset limit that can be used to make payments for goods and services at participating merchants either locally or internationally. Examples of charge cards are American Express, Diners Club International, and HSBC Amanah Mastercard.
 
 
 
Similar to credit cards, the merchant must swipe or insert your charge card into a terminal to get authorisation from the charge card issuer. You will then be asked to sign on the payment slip as proof of purchase once authorization has been given. However your signature would not be necessary at unattended point-of-sales terminals such as petrol pumps.

The charge card issuer will pay the merchant on your behalf and will send you a monthly statement on your transactions whereby you will have to settle the outstanding balance in full by the payment due date. The amount payable is different in comparison to credit cards whereby credit cards allow you to pay the minimum monthly repayment.
 
 
Do you always pay your outstanding balance in full when due?

Are you looking for a convenient and easy payment instrument in managing your
daily payments?
If you answered yes to both questions, then a charge card may be suitable for you.
 
 
It’s advisable that you shop around for a charge card that best suits your needs. You may want to consider the following factors in making your choice:
 
 
Some charge card issuers offer attractive promotional gifts in promoting the cards.

Some issuers may offer low introductory annual or joining fee as well as competitions which offer prizes to eligible cardholders who have spent a certain amount on their cards.

Read the terms and conditions carefully and pay attention to the duration of the offer.
   
 
There are various combinations of fees and charges for using charge cards.

Make sure to compare these fees and charges with those charged by different charge card issuers before signing up.
 
 
You must be 21 years or older and have a minimum income of RM18,000 per annum to apply. You may also need relevant documents to support your application. Refer to your charge card issuer with regards to these documents.
 
 
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For more information on charge cards, download our booklet or visit our charge cards FAQs for a better guide.
 
 
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