Maybank Platinum Visa Sign Up Promotion:
Receive Samsonite ENOW SPINNER 69/25 EXP (worth S$570) or S$200 cashback as a new-to-bank customer, when you apply for a new Maybank Credit Card and charge a minimum of S$1,300 within the first two months of card approval. Alternatively, you may apply for CreditAble and a new Maybank Credit Card, and charge a minimum of S$1,200 within the first two months of card approval.
- Fill up this google form after signing up to qualify for rewards
- Read Terms and Conditions here
Maybank Platinum Visa Overview:
- The Maybank Platinum Visa Card may be of interest to you if you’re searching for a cashback credit card that offers rewards for both local and international purchases, especially for insurance payments (that allow Visa payments). With this card, you can earn up to 3.33% cashback on all of your transactions, with a quarterly minimum spending of S$300.
Eligibility & Fees:
- Minimum Age: 21 years old
- Minimum Annual Income: S$30,000 (locals/PRs); S$60,000 (foreigners)
- Annual Fee: Free
Key Benefits:
- Get up to 3.33% cash rebate on all your local and foreign currency spend with a min. monthly spend of S$300 per month for a quarter.
- Quarterly cashback is based on a fixed-quarter spending (i.e. from January to March, April to June, July to September and October to December).
- Earn up to 3% p.a. with the Maybank Save Up Programme, with spends on this credit card being one of the categories
- Complimentary travel insurance coverage of up to S$500,000
- Quarterly service fee of S$20 (First 3 Years Free). Subsequently, quarterly service fee is waived when you charge to your Card once every 3 months. (please always call the bank for annual fee waiver. Watch this video for more information.)
Where Can I Use it:
It can be used anywhere that accepts Visa payments. Earn rewards on every purchase you make, whether in local and foreign currencies. In Singapore, a wide range of retailers offer discounts and benefits.
Is it Worth it:
Advantages:
- Get up to 3.33% cash rebate on all your local and foreign currency spend.
- Quarterly service fee of S$20 (First 3 Years Free). Subsequently, quarterly service fee is waived when you charge to your Card once every 3 months.
Disadvantages:
- No quarterly cashback if minimum monthly spend is below S$300 each month in a quarter.
- No additional cashback if you hit beyond the tier. Eg. you still get S$30 if you spend S$999 every month for a quarter. So you need to do some light monitoring.
Frequently Asked Questions:
Can I earn cashback when I pay my insurance: this is one of the few cards that allows you to earn cashback on insurance currently. You MUST pay on the insurance website directly like Prudential to be eligible for cashback. Check if the insurance company website allow VISA payments on the premium
*If the website only accepts bank transfer, you may use Cardup/iPayMy to make payments. Cardup is cheapest at the moment. You can use code IJTLFREE for S$30 off your first Cardup payment.
Do AXS payments count towards this card: no, AXS payments are not eligible for cashback
How Does The Cashback Work?
Tier | Monthly Spend in a Quarter | Cashback |
Tier 1 | S$300 | S$30 |
Tier 2 | S$1,000 | S$100 |
Tier 3 | S$2,000 | S$200 |
- Insurance payment can be accumulated as eligible spend for up to half of the monthly spend amount for each tier.
- Eg. If your monthly spend amount is $1000, insurance payments can only be 1/2 of that amount, which is $500. The rest of the $500 must be other types of payments. For avoidance of doubt, insurance payment is not mandatory.
Tier | Minimum Monthly Spend | Maximum Monthly Spend on Insurance Transactions | Minimum Monthly Spend on all other Eligible Transactions | Quarterly Cashback Amount |
1 | S$300 | S$150 | S$150 | S$30 |
2 | S$1,000 | S$500 | S$500 | S$100 |
3 | S$2,000 | S$1,000 | S$1,000 | S$200 |
What cannot earn you cashback:
- Payments made to government or government-related institutions, agencies or companies or for government or government-related and services (court cases, fines, bail and bonds, tax payment, postal services, parking lots and garages, intragovernment purchases and any other government services not classified here);
- Betting or gambling transactions;
- Brokerage/securities transactions;
- Transactions made via AXS or SAM;
- Transactions of a corporate/commercial nature;
- Transactions classified under the following Merchant Category Codes (“MCC”):
- (MCC 6012) Financial Institutions – Merchandise, Services, and Debt Repayment
- (MCC 6051) Non-Financial Institutions – Foreign Currency, Non-Fiat Currency (for example: Cryptocurrency), Money Orders (Not Money Transfer), Account Funding (not Stored Value Load), Travelers Cheques, and Debt Repayment(MCC 6540) Non-Financial Institutions – Stored Value Card Purchase/Load
- FlexiCash, FlexiPay, 0% Interest Instalment Plans, funds transfers, cash advances, finance charges, late payment charges, annual fees, reversals, interest charges, any other miscellaneous charges charged to the Cardmember;
- payment of funds to prepaid accounts such as those listed below (the following examples are not exhaustive and Maybank reserves the right to amend the list from time to time without giving prior notice or reason to any party):
- Any transaction deemed by Maybank at its sole discretion to be beyond personal consumption or of a business and/or corporate nature; and
- Any transactions deemed by Maybank at its sole discretion to be unsuitable or inappropriate to be considered as an Eligible Transaction.
Read Terms and Conditions Here
Final Thoughts:
- Simple and adaptable, the Maybank Platinum Visa Card offers reward benefits to fit a variety of spending habits and lifestyles. This card offers value for low monthly spenders.
- After using Cardup + Maybank Visa Platinum for a few months, I don’t think it is worth the effort as we rarely need to pay an exact amount of $300, $1000, $2000. This matters because even if you spend $1999 each month, you still get 100 at the end of the quarter. I think it is better to just pay on the insurance website directly.
- If this has benefitted you, without any cost to you, feel free to use my referral link and fill out the google form to help me sustain this blog and create more independent reviews like that so that we can huat together. Alternatively, use your friend’s referral code.
Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.
Application process:
Step 1: Sign up both CreditAble as well as the card to qualify for the sign up bonus
Step 2: Note down the Application Reference number reflected onscreen
Step 3: Check email from Singsaver and key in your application reference number to secure your reward
Maybank Platinum Visa Sign Up Promotion:
Receive Samsonite ENOW SPINNER 69/25 EXP (worth S$570) or S$200 cashback as a new-to-bank customer, when you apply for a new Maybank Credit Card and charge a minimum of S$1,300 within the first two months of card approval. Alternatively, you may apply for CreditAble and a new Maybank Credit Card, and charge a minimum of S$1,200 within the first two months of card approval.
- Fill up this google form after signing up to qualify for rewards
- Read Terms and Conditions here
We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.
