Bank Muamalat Launches Rewarding Shariah Compliant Visa Platinum and Infinite Cards

Bank Muamalat Malaysia Berhad in collaboration with Visa International unveiled its first-ever Shariah-compliant credit cards, the Visa Platinum-i and Visa Infinite-i which offers cashback to its users.

Bank Muamalat President and Chief Executive Officer, Khairul Kamarudin said “The Bank Muamalat Visa Platinum-i and Visa Infinite-i will allow cardholders to consolidate their everyday purchases, including online, contactless, and physical shopping into one card, and at the same time provide cardholders with savings from cash backs, every time they spend on their daily essentials,”.

These Shariah-compliant cards will give cardholders unlimited 1% cashback for all face-to-face overseas spending, 1% cashback on e-commerce spending, and up to 0.5% cashback on contactless spending.

“The cashback rewards form an integral part of our card’s value proposition by giving back to cardholders in the form of savings for purchases using the cards. For the first 12 months, we are targeting 20,000 new cardholders focusing primarily on our internal customer base,” added Khairul.

As a newly launched card, cardholders such as Bank Muamalat Visa Platinum- will enjoy a one-year Annual Fee waiver, while for the metallic Bank Muamalat Visa Infinite-i, cardholders will enjoy an Annual Fee waiver for a lifetime.

To encourage take up, a 0% Balance Transfer programme is offered, which will be available for six months from 1 April until 30 September 2022. Cardholders can consolidate the outstanding balance of their existing credit cards to their new cards at zero cost.

Bank Muamalat has also launched a promotional campaign around the card’s introduction, the “Apply, Activate, Spend & Get Rewarded Campaign”, offers prizes such as a brand-new Audi Q2, Proton X70 or Proton X50 for new sign ups. Cardholders also stand a chance to win Samsung S21 mobile phones and Shopee vouchers worth RM60,000. The first 1,200 cardholders will also receive an early bird activation gift of Harman Kardon headphones with a minimum spend of RM50.00. 

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