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Maybank XL Cashback Card
Card Details
Good For
Cashback maximisers with everyday lifestyle spending
Travellers and overseas online shoppers earning cashback on foreign currency spend
Younger cardholders (21–39) who want a simple cashback structure
Things To Note
You must meet a monthly minimum spend to earn 5%; otherwise, cashback drops to the base rate
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Maybank XL Cashback Card: Overview & Key Features
The Maybank XL Cashback Card is a lifestyle cashback card designed for Singapore residents aged 21–39 who want to earn 5% cashback on everyday spending across dining, shopping, travel, entertainment, and overseas purchases.
Feature | Details |
Earn rate | 5% cashback on dining, shopping, travel, entertainment, and foreign currency spend; 0.2% unlimited on all other spend |
Bonus categories | Dining, shopping, travel, entertainment ("Play"), foreign currency transactions |
Monthly caps | Minimum $500 monthly spend on eligible categories required for 5% cashback rate; capped at $80 cashback per month |
Annual fee | $87.20 (waived first 2 years); subsequent waivers with $6,000 annual spend |
Eligibility | Ages 21–39 Minimum annual income:
|
Cashback crediting | Automatic; no manual redemption required |
Card network | Mastercard |
Digital wallets | Apple Pay, Samsung Pay compatible |
Maybank XL Cashback Card: How Cashback Works, Fees, & Exclusions
The Maybank XL Cashback Card aims to make cashback straightforward for everyday spenders. Here's how you earn cashback, what doesn't qualify, and how to avoid fee traps.
How cashback is earned
Spend category | Earn rate | Monthly requirement | Monthly cap |
Dining, shopping, travel, entertainment ("Play"), foreign currency | 5% cashback | $500 min. spend | $80 max cashback |
All other eligible spend | 0.2% unlimited | None | None |
Once cashback is earned, it is automatically credited to your card account monthly, with no manual redemption required. If your card account is closed before crediting however, any earned cashback may be forfeited.
Certain transaction types do not earn cashback, including:
- Payments to government institutions (taxes, CPF, fines)
- Top-ups to prepaid cards and digital wallets (Grab, EZ-Link)
- Utility bills, insurance premiums, or recurring bill payments
- Gambling, betting, or lottery transactions
Main fees & how to avoid them
Fee type | Amount / method | How to avoid or minimise |
Annual fee | $87.20 (waived for 2 years); subsequent waiver with $6,000 annual spend | Spend at least $6,000 yearly |
Late payment fee | 5% of minimum due or $100, whichever is higher | Pay at least the minimum each month, on time |
Foreign transaction fee | 3.25% of transaction amount | Note: FX fee applies even though foreign spend earns 5% cashback |
Cash advance fee | 8% of amount or minimum $15, whichever is higher | Avoid cash advances entirely |
Maybank XL Cashback Card vs. Competitors: Cashback Card Comparison
Looking for a quick comparison of Singapore’s most popular credit cards for cashback, rewards, and travel? Here’s how the Maybank XL Cashback Card stacks up against five of the top competitors across core features and unique perks.
Card name | Annual fee | Min. annual income (Singaporean/PR) | Cashback rates | Min. monthly spend | Monthly cap | ⭐ Best for |
$87.20 (waived 2 years; subsequent waivers with $6,000 annual spend) | $30,000 | 5% cashback on eligible dining, shopping, travel, entertainment, and foreign currency spend 0.2% cashback on all other spend | $500 | $80 cashback | Ages 21–39, lifestyle spenders | |
$196.20 (1st year waived) | $30,000 | Up to 10% cashback on eligible McDonald's, Shopee, Grab, and SimplyGo Up to 8% cashback on groceries Up to 3.33% cashback on all other eligible general spend | $600 / $1,000 / $2,000 (tiered) | Varies by tier | High spenders or homemakers hitting multiple spend tiers | |
$196.20 (1st year waived) | $30,000 | 3% cashback on eligible dining, groceries, and petrol 0.3% cashback on all other spend | $800 | $80 cashback | Grocery, dining, petrol focus | |
None | $30,000 | Up to 15% cashback on rotating category 1% unlimited on all spend | $700 | Category-specific | Flexible quarterly category rotation | |
$196.20 (waived 3 years; subsequent waivers with $12,000 annual spend) | $30,000 | Up to 8% cashback on 5 chosen categories 8% cashback on Malaysia / Indonesia spend | $800 | $25 per category | Families, cross-border spenders |
💡 MoneySmart Tip: For more cashback strategies and card comparisons, visit our cashback credit card guide in Singapore to learn more.
Eligibility & Application Process For Maybank XL Cashback Card
Eligibility criteria
Criteria | Details |
Age | Must be 21 to 39 years old |
Citizenship / Residency | Singapore Citizens, Singapore Permanent Residents (PRs), Malaysians employed in Singapore for at least 1 year, other foreigners employed in Singapore for at least 1 year |
Minimum annual income | Singapore Citizens/PRs: $30,000 annual income Malaysians: $45,000 annual income Other foreigners: $60,000 annual income |
How to apply for the Maybank XL Cashback Card: Step-by-step guide
Action | Details |
| Browse MoneySmart's Maybank credit card comparison page and select the Maybank XL Cashback Card. When ready, click the "Apply Now" button to kickstart your card application journey. At this stage, you'll also be prompted to fill in your email address on the MoneySmart Rewards Form to qualify & track ongoing promotions and statuses. |
If there are no ongoing promos, you'll be redirected to Maybank's secure online application portal. For Singaporeans/PRs, use Singpass for faster auto-fill of personal and income data. For foreigners, prepare to manually enter details and upload documents such as your passport, work pass (min. 6 months' validity), latest payslip, and proof of Singapore address. ⭐ File requirements: PDF, JPG, or PNG format; max 5MB per file; ensure all 4 corners visible and text legible. | |
Double-check all details are accurate. Review terms and conditions, then submit your application. You'll receive an acknowledgment email with your application reference number. | |
Maybank reviews your application and conducts KYC (Know Your Customer) checks. Typical processing time: 7–14 business days If additional documents are needed, you'll receive an email or SMS notification. Check your email/SMS regularly for updates. | |
Upon approval, your digital card should be available to you almost instantly. Meanwhile, your physical card will be mailed to your registered address via registered mail within 7–14 business days. Delivery requires signature. Activate your card via Maybank app or call 1800-MAYBANK (1800-629 2265) before first use. |
💡 MoneySmart Tip: For more in-depth step-by-step guidance and broader application requirements, see our guide on requirements to get a credit card in Singapore.
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FAQs About Maybank XL Cashback Card in Singapore
What transactions don’t earn cashback on Maybank XL Cashback Card?
Cashback is not given for these types of transactions:
- Payments to government institutions (e.g., taxes, CPF, fines)
- Top-ups to prepaid cards and digital wallets (such as Grab, EZ-Link)
- Utility bills, insurance premiums, or recurring bill payments
- Gambling, betting, or lottery-related transactions
Always check the latest official T&Cs, as exclusions can change.
How is cashback credited on Maybank XL Cashback Card?
Your cashback is automatically credited to your card account within the following billing cycle—there's no manual redemption required. If your card account is closed before crediting, any earned cashback may be forfeited.
How is cashback calculated on the Maybank XL Cashback Card?
You earn 5% cashback on spending in the categories of:
- Dine (restaurants, fast food, bakeries, food delivery),
- Shop (apparel, department stores, online shopping),
- Travel (airlines, online travel agencies),
- Play (bars, cinemas, video game arcades, streaming), and
- All foreign currency transactions (both overseas and online).
However, to earn this 5% rate, you must spend at least $500 monthly on eligible spend, capped at $80 cashback per month. Spending below this threshold drops you to the base 0.2% cashback earn rate.
Does Maybank XL Cashback Card have foreign transaction fees?
Yes, foreign transaction fees apply to all overseas purchases, even those that earn the 5% cashback rate. Check with Maybank for current foreign exchange fee rates, as they may change.
What happens to my Maybank XL Cashback Card when I turn 40?
Your card remains valid and active after you turn 40—you can continue using it normally. However, you won't be able to apply for a new Maybank XL Cashback Card once you're outside the 21–39 age range. If you close your account after turning 40, you cannot reapply for this specific card.