Bank Rakyat Platinum Explorer Credit Card-i

A no annual fee travel cashback card

The Bank Rakyat Platinum Explorer Card is a travel cashback card with a simple value proposition: airline and hotel cashback, no annual fee and no foreign currency mark up. It is less broad than the Bank Rakyat World Mastercard Credit Card-i, but it is easier to justify if you want travel benefits without paying an annual fee.

The main appeal is 5% cashback on all airline and hotel bookings, capped at RM1,000 per year. Since the cap is annual, the card works best when you have planned travel spending, such as flight tickets or hotel bookings, rather than small monthly purchases.

Within Bank Rakyat's travel card range, the World Mastercard is the more obvious upgrade. It adds dining cashback, increases the annual cashback cap to RM1,500, and gives 6 Mastercard Travel Pass lounge visits, but it also comes with a RM500 annual fee unless waived.

There is also an Xclusive Explorer version, but that is mainly relevant if you qualify as a Rakyat Xclusive customer. Its core structure is close to Platinum Explorer, with extra lounge visits rather than a major cashback difference.

Bank Rakyat's lounge information can be a little confusing because the main product page may still show the older Malaysia wording. However, its separate Plaza Premium Lounge Worldwide page lists the Platinum Explorer Card-i with 3 complimentary visits per year at selected participating lounges worldwide. It is worth checking the latest lounge list before travelling.

The card also has no mark-up rate for overseas transactions, meaning there are no additional currency exchange mark-up fees on overseas transactions. That is useful if you spend abroad. That said, Bank Rakyat cards do not support Apple Pay, Google Pay or Samsung Pay, so overseas use still depends on the physical card.

The card includes free Group Family Takaful Coverage and Khairat Kematian of RM1,000. Coverage includes guaranteed financing payment of outstanding finances accrued through Credit Card-i usage.

The minimum annual income requirement is RM60,000. There is no annual fee, which makes the card easier to keep even if you only use it for travel bookings and occasional lounge access.

Verdict: The Bank Rakyat Platinum Explorer Card is worth considering if you want travel cashback, no annual fee and no foreign currency mark up. The World Mastercard is the stronger upgrade if you want dining cashback, a higher RM1,500 annual cap and more lounge visits. But if you want to avoid annual fees, Platinum Explorer remains the cleaner choice. If you are already a Rakyat Xclusive customer, the Xclusive Explorer version is also worth checking for the extra lounge access.