Not many of us have the luxury of jet-setting to Bangkok every month.
And with most cards offering higher MPD for overseas spend than local spend, that leaves us at a disadvantage even if we wanted to collect miles for a holiday.
Luckily, there are options like the Maybank Horizon Visa Signature Card that give more miles for local spending than overseas spending.
Let’s take a closer look at the card to find out more about:
- Eligibility requirements
- Fees and charges
- Features and benefits
- How does the MPD compare with that of other cards
- Who would benefit the most from this card?
|Age||21 and above|
You can apply via the Maybank website using Singpass MyInfo if you’re a Singaporean or PR. Foreigners and existing Maybank cardmembers may also manually submit their applications online.
Fees and Charges
|Annual Fees||S$180 for principal card with three-year fee waiver. Supplementary card is free.|
|Effective Interest Rate||25.90% per annum|
|Late Payment Charges||5% of the minimum monthly repayment or S$80, whichever is higher|
|Minimum Monthly Payment||3% of outstanding balance or S$20, whichever is higher|
|Overlimit Fee||3% of the credit limit plus the excess over the credit limit|
|Maybank TREATS Points Conversion Fee||S$25 for each conversion|
|Foreign Currency Transaction Fee||Up to 3.25%|
|Cash Advance Interest and Fees||5% of the amount withdrawn or S$15, whichever is higher|
A few points of note here: you’ll get a three-year annual fee waiver, which is more than what many banks provide. After the first three years, you’ll also get an automatic fee waiver if you spend S$18,000 a year (or S$1,500 a month) on the card.
The only downside is that unlike with other cards, you won’t get a renewal bonus – which can be upwards of 10,000 miles with certain cards. This card is designed for those who want to collect miles without all the administrative hassle.
Features and Benefits
Here’s what you’ll get with the Maybank Horizon Visa Signature Card:
3.2 MPD on Local Spending and Agoda
Specifically, you’ll get 3.2MPD for petrol stations, public transport, Grab and taxi rides, dining in at restaurants, and hotel bookings on Agoda. Aside from the 3.1 MPD the AMEX KrisFlyer card offers on Grab transactions, this is one of the highest MPD rates you’ll find locally.
Be sure to use a different card for local transactions that don’t fall under one of those categories though. Otherwise, you’ll get a sad 0.4 MPD instead.
2 MPD for Travel Spend and Foreign Currency Transactions
Unlike cards like the DBS Altitude that offer up to 10 MPD for travel-related transactions, this is a flat rate (Agoda is the main exception). But this card’s benefits are heavily slanted toward local spending, so we’d recommend a different card if you want one for overseas transactions.
Read also: 7 Best Miles Credit Cards for Singapore
While you won’t get much bonus mileage with travel-related transactions, you’ll be covered for up to S$1,000,000 when you charge your full airline fare to the card.
Other travel perks include:
- Access to selected VIP airport lounges if you charge S$1,000 in a single retail transaction within 3 months of the travel date
- 20% off walk-in rates for lounge access to Plaza Premium Lounge at Changi, KLIA and HKIA
- 10% off massage, gym/fitness, and nail/hair beauty services at the Ambassador Transit Lounge in Changi T2 & T3
Bonus Interest with the Maybank Save Up Programme
If you’re a Maybank SaveUp Account user, link this card to your savings account and transact at least S$500 monthly to qualify for up to 3% annual interest.
Downsides of the Maybank Horizon Visa Signature Card
The Maybank Horizon Card’s merits outweigh its downsides, but there are still a few points to note if you want to make the most of this card:
You’ll need to spend a minimum of S$300 per month to get the bonus rates on local and overseas spending. But that should be doable with a combination of petrol (or public transport if you don’t drive), dining out, and Grab/taxi rides every month.
TREATS Points Cap & Their Expiry
Maybank rewards your spending in the form of TREATS points, not miles – you’ll have to convert the TREAT points into miles on the TREATS SG app.
You can earn up to 30,000 bonus TREATS points monthly, which equates to about S$4,285 on eligible local spend or S$7,500 in travel or foreign currency spend. Past that cap, you’ll only earn 1 TREAT point per dollar.
These TREATS points also expire in one year unless you’re a Maybank Rewards Infinite (RI) member. You’ll automatically become an RI member by spending S$24,000 on your Maybank card in the preceding year.
No Additional Reward Miles or Welcome Bonus
Some cards offer extra miles as a welcome bonus to qualifying cardholders, or give you tens of thousands of bonus miles when you renew the card. Sadly, the Maybank Horizon Visa Signature Card isn’t one of them.
How Do the MPD Rates Compare?
|Credit Card||Local Spend||Overseas Spend|
|Maybank Horizon Card||3.2 MPD for local dining, public transport, Grab/taxi rides, and petrol|
0.4 MPD for others
|2 MPD for overseas (online and onsite) and travel-related spend|
|DBS Altitude Card Visa Signature||1.2 MPD||2 MPD for overseas spend|
3 MPD for online flight and hotel bookings
10 MPD for hotel transactions on Kaligo
6 MPD for flight and hotel transactions on Expedia
|Citi PremierMiles Card||1.2 MPD||2 MPD on foreign currency spend|
7 MPD on Agoda
10 MPD on Kaligo
|UOB KrisFlyer Card||1.2 MPD|
3 MPD for dining, transport, travel, food delivery, and online shopping
|3 MPD for travel bookings with SIA brands, including SIA, Scoot, and KrisShop|
The Maybank Horizon Visa Signature Card beats other entry-level mile cards hands down when it comes to MPD for local spend. Even the UOB KrisFlyer Card, which promises 3 MPD on local spend, doesn’t quite measure up to the Maybank Horizon Card.
That said, the UOB KrisFlyer includes food delivery, online shopping, and travel spend for its boosted rates, whereas the Maybank Horizon includes petrol as a category. It’s up to you to decide which is more worthwhile for your lifestyle.
As previously mentioned, this card loses big time with foreign spend MPD, so you’re better off with another option if you’re planning to splurge while on holiday.
Who Would Benefit the Most From This Card?
- Young adults who want an entry-level miles card to collect miles for the occasional holiday
- Those who can maximise MPD rates with at least S$300 in local spend, especially in dining, Grab/taxi rides, and public transport
- Car owners who want to accumulate miles when they spend on petrol