Compare the Best Maybank Cashback Credit Cards in Singapore 2018

Updated August 2018

Earn up to 8% cash rebates with a cashback credit card. Compare and find the best Maybank cashback credit card to earn the highest rebates based on your spending habits.

Maybank FC Barcelona Visa Signature
Very Good
Maybank FC Barcelona Visa Signature
Very Good

1.6%

Cash Rebate on All Local Spend

Unlimited

Cash Rebate Cap

S$0

Min. Spend per month

  • Receive a limited edition Maybank FC Barcelona Cap and Lanyard

Cash Back Features

  • 1.6% Unlimited cash rebate on all local spend
  • No minimum spend and no cash rebate cap

Annual Rates

Principle Annual Fee
$120
Supplementary Annual Fee
Complimentary
Fee Waiver
Waived with min. spend of S$10,000 p.a.
Annual Interest Rate
25.90%

Eligibility

Singaporean Minimum Income
$30,000
Non-Singaporean Minimum Income
$60,000
Maybank Family & Friends Card
Very Good
Maybank Family & Friends Card
Very Good

Up to 8%

Cash Rebate at selected merchants

Up to 8%

Cash Rebate on bus, train, and taxi rides

S$1000

Min. spend per month

Cash Back Features

  • Up to 8% cash rebate on groceries, shopping, dining, food deliveries, petrol, and entertainment spend
  • Up to 8% cash rebate on bus, train, and taxi rides
  • 8% or 5% cash rebate with minimum spend of S$1000/S$500 per month respectively. Cash rebate cap at S$600/year
  • Get 0.3% cash rebate on all other spend with no cap on cash rebates

Annual Rates

Principle Annual Fee
$180
Supplementary Annual Fee
0.0
Fee Waiver
Waived with min. spend of $12,000 p.a.
Annual Interest Rate
25.90%

Eligibility

Singaporean Minimum Income
$30,000
Non-Singaporean Minimum Income
$60,000
Maybank Platinum Visa Card
Very Good
Maybank Platinum Visa Card
Very Good

Up to 3.33%

Cash Rebates on All Local Spend

Up to S$100

Cash Rebate Cap per quarter

S$1000

Min. Spend per month, per quarter

Cash Back Features

  • Up to 3.33% cash rebates on local spend with a min. spend of S$300/month OR S$1000/month each quarter for S$30 OR S$100 cash rebate
  • 0.3% cash rebates on overseas spend

Annual Rates

Principle Annual Fee
$0
Supplementary Annual Fee
0.0
Fee Waiver
Waived when card is charged once every 3 months
Annual Interest Rate
15.00%

Eligibility

Singaporean Minimum Income
$30,000
Non-Singaporean Minimum Income
$60,000
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What is a Cashback Credit Card?

Cashback credit cards fall under the broader category of rewards credit cards, where consumers accumulate points for every dollar charged to the card. These points can then be redeemed for “rewards” such as gift vouchers, appliances, etc.

A cashback credit card, however, rewards you with a cash rebate instead. This amount varies quite a lot among credit cards but typically falls between 1% and 5%, though some credit cards have attractive bonus cash rebates to reward certain types of spending.

Cashback Credit Cards 101s

New to the world of cashback credit cards? Here are the key features you need to know before you sign up.

Basic Cashback

Also known as “base rate”, this is the standard cash rebate you can expect to receive on your purchases, regardless or when, where, how or with whom it’s made. Typically this falls around 0.25% and up.

Bonus Cashback

Many credit cards offer tie-ups with brands and retailers ranging from Uber to Sheng Siong, offering higher cashback rates (as high as 8%). Some also offer higher rates for specific types of spending, e.g. online purchases, telco bills. Note the fine print on these and be sure they are a good fit for your actual spending habits.

Introductory Promotions

Some cards offer introductory cashback promotions such as a higher rate for the first few months or a $100 bonus with your first purchase. Be aware of the limited nature of these promotions and of any terms & conditions.

Other Things to Take Note of

Don’t be too seduced by claims that sound too good to be true. That big red “20% CASH REBATE!!!” line splashed all over the brochure probably comes with a catch. To prevent disappointment, read the terms & conditions carefully and note the following:

Minimum Spend

Certain attractive cashback rates only apply for hefty minimum spends, say of $2,000 and up. If your planned expenditure is nowhere near that minimum, it makes little sense to apply for the card.

Cashback Cap

Credit card issuers often have a cap on how much cash rebate you can earn per quarter. You may be surprised to find that your 20% cashback only has a $10 cap.

More From The MoneySmart Blog

Check out our blog for more personal finance tips and insights.

Frequently Asked Questions

Who should get a cashback credit card?

Cashback credit cards are good entry-level cards for everyday use. They typically come with low income requirements (usually around $30,000 annually) which most young working adults can hit fairly easily, and in most cases annual fees are waived. They are also set up such that you can enjoy some form of cash rebate even if you don’t spend a huge amount of money, so you can still enjoy their benefits even if you live quite a frugal lifestyle.

How do I choose the best cashback credit card for me?

You can get the most out of your cashback credit card if you pick one that is perfectly aligned to your actual spending habits. For example, if you spend a lot on clubbing or online shopping, look for a card that offers hefty bonus cashback rates (these can be as high as 8%) on these categories or merchants. If you are not a particularly big spender in any one category, pick the card with the highest base rate, provided you can meet the minimum spend requirements.

Do I really get my rebate in cold hard cash?

While we would dearly love to receive a cheque or a nice wad of cash every month, this isn’t usually how credit card cash rebates are paid out these days. Instead, the cashback amount is credited to your account, effectively giving you a discount off your next credit card bill.