The Maybank eVibes Card is a popular choice for students and NSFs to dip their toes into the world of credit.
Today, we’ll be going through and reviewing the Maybank eVibes Card and assessing whether it’s a good option for students and first-time credit card applicants:
- Eligibility requirements
- Annual fees and credit limit
- Cashback and other benefits
- Ease of use
- Pros and cons
Who’s Eligible For The Maybank eVibes Card?
|Residential Status||Singaporeans or Permanent Residents|
|Age||18 – 30 years old|
|Annual Income Requirements|
|Additional Eligibility Criteria to Fulfill|
Unfortunately, only students and NSFs enrolled into a tertiary institution can apply for this card.
And unlike the Standard Chartered Manhattan $500 card, working adults earning below $30,000 annually are not eligible for the Maybank eVibes Card.
The eligibility requirements are stricter for the Maybank eVibes Card, and you have to be enrolled into the above educational institutions to qualify for the card.
Despite this, the Maybank eVibes Card remains a popular choice amongst local students and younger NSFs, due to the great benefits cardholders can reap.
Annual Fees, Credit Limit, and Other Charges
|Annual Fees||S$5 every quarter (waived if you charge to your credit card at least once every 3 months)|
|Credit Limit||S$500 monthly credit limit|
|Minimum Monthly Payment||3% of outstanding balance or S$20, whichever is higher + any outstanding amount due from previous statements|
|Late Payment Charges||S$80 or 5% of the minimum due, whichever is higher, if minimum monthly repayment is paid by due date|
|Foreign Currency Transaction Fee|
Overseas Retail Transactions
Despite the spending benefits on the Maybank eVibes Card, this card has very specific charges depending on where you shop online. For example, if you’re shopping on a Korean site and you pay in Korean Won, you’ll incur up to 3.25% in admin fees.
The $500 credit limit does not mean you’ll automatically be cut off from charging to the card — you’ll pay an overlimit penalty of S$15 on top of your excess spending if you exceed it, so keep tabs on your spending and stay within limits.
No Limit on Cashback
There is, however, no cap on your cashback earnings even when you spend over your limits. This means if you charge $1,000 to the card, you’ll get $10 cashback (but also incur the overlimit penalty).
Realistically, at 1% cashback with a $500 credit limit, the most you’ll get back each month is $5 — which is still better than the $1.25 on the SCB Manhattan $500 card.
Cashback and Other Benefits
How Easy Is It to Use the Maybank eVibes Card?
1. Internationally recognised and accepted
Mastercard and Visa are the two most widely accepted cards in Singapore, which means you can use your card almost anywhere.
You’ll also unlock access to various Visa card benefits such as travel perks, rewards, discounts, merchant specific deals, and so on.
2. Cashback on all retail spending
As long as you’re using this card for your own leisure shopping, you’ll be entitled to the 1% cashback.
If you’re planning on using this card to pay for your bills, then the cashback system may not be as straightforward. You’ll need to check whether your spending falls under the list of eligible items.
3. Monitoring of spending via the Maybank iBanking app
Cardholders can use the Maybank iBanking app to keep track of all spending. The app interface looks…well, ancient compared to that of other banks like DBS. Still, it serves its purpose for the most part.
Caveats of the Maybank eVibes Card
1. Cashback rules to note
- GST doesn’t count for cashback calculations.
- Only transactions posted in the calendar month count towards the month’s spending and cashback. (That means if you bought something on the last day of the month but it only posted three days later, it counts toward the next month instead.)
- You’ll forfeit all remaining cashback if you terminate the card.
2. Cannot double as an EZ Link Card
If you’re looking for an all-in-one card for your commutes, this is going to disappoint. Unlike the other Maybank Mastercards or the CIMB AWSM card, the eVibes card can’t be used with SimplyGo. You’ll still need to bring your student MRT card while travelling.
3. Incompatible with Apple and Google Pay
Sadly, Maybank Cards in general are not supported by Apple and Google Pay. On the other hand, Samsung users will rejoice as this card works with Samsung Pay.
The Bottom Line
With a high cashback rate (and no limit on the cashback), the eVibes card offers students and NSFs a way to save money while building their credit score.
The eVibes card is also low maintenance in that you can avoid the service fees if you charge to the card at least once every three months — and there’s no minimum spending to qualify for the cashback.Our verdict? For an entry-level card, the Maybank eVibes card is one of the better options in the market. You can always upgrade to a card with better benefits later on when you start working, so this card will tide you over in the meantime.