The BankRakyat Platinum Explorer Card is a shariah-compliant credit card that provides many benefits for travelers and everyday spending.
Learn more about the BankRakyat Platinum Explorer Card.
About the BankRakyat Platinum Explorer Card
The BankRakyat Platinum Explorer Card is a shariah-compliant credit card that utilizes the tawarruq concept. This card is designed for frequent travelers who want to earn rewards and enjoy travel benefits. With no annual fees and no mark-up on overseas transactions, cardholders can save on travel expenses.
The 5% cashback on airlines and hotels is a major perk, providing significant savings on travel bookings. Complimentary airport lounge access through Plaza Premium Lounges in Malaysia three times a year is another useful benefit for jetsetters. The card also comes with free takaful coverage and pays out rewards points on everyday spending.
Cardholders are placed into pricing tiers based on payment history, ranging from 13% to 18% profit rate per annum. There are no compounding elements, keeping financing straightforward. Overall, the BankRakyat Platinum Explorer Card makes traveling more rewarding and convenient.
Applying for the BankRakyat Platinum Explorer Card is simple and can be done online or by applying form. To be eligible, you need to be at least 21 years old for the principal card and have a minimum annual income of RM60,000. Supporting documents like ID, payslips, EA forms, and bank statements may be required. After submitting the application, you'll receive updates via SMS.
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Bank Rakyat is one of the largest Islamic banks in Malaysia with over 900 branches nationwide. Founded in 1954, it has grown to serve over 6.9 million customers with total assets of over RM165 billion.
As a cooperative bank, Bank Rakyat is owned by its members who buy shares to become the bank's owners. This unique model aligns the bank's interests with those of its customers. Bank Rakyat offers a full range of Islamic financial products and services including deposits, financing, investment, insurance, remittance, and online banking.
The bank has won numerous awards, including being recognized as one of the top Islamic financial institutions worldwide. With strong shariah-compliance and commitment to community development, Bank Rakyat is a trusted Islamic bank in Malaysia.
Why Choose the BankRakyat Platinum Explorer Card?
The BankRakyat Platinum Explorer Card is an excellent option for a few key reasons. Firstly, the high 5% cashback on travel bookings provides substantial savings for frequent flyers and vacationers. Complimentary airport lounge access also elevates the travel experience.
Secondly, there are no annual fees or foreign transaction fees, making the card economical. The competitive profit rates, lack of compounding, and RM3,000+ credit limit further add value. Lastly, Bank Rakyat itself is a reputable and stable Islamic bank with over 900 branches nationwide. Customers can have peace of mind that their finances are managed compliantly.
Overall, the BankRakyat Platinum Explorer Card packs attractive travel benefits, competitive rates, and backing by a leading Islamic bank. It's a great fit for Muslim travelers and professionals seeking a rewarding shariah-compliant card.