Maybank Platinum Visa Card Review

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Get local and overseas cash rebates up to 3.33% with the Maybank Platinum Visa Card.

The Maybank Platinum Visa Card offers users cash rebates on local and overseas purchases as well as complimentary travel insurance and discounted movie tickets. Accounts in good standing have an annual interest rate of 15%.

S$0

Annual Fee

15%

Effective Interest Rate

S$30,000

Min Income - Singaporean and PR

Details

Product NameMaybank Platinum Visa Card
RewardUp to 3.33% cash rebates on local spend
Effective Interest Rate15%
Interest Free PeriodUp to 20 days
Maximum Credit LimitUp to 4X of monthly income
Minimum Monthly Repayment3% of outstanding balance or S$20, whichever is higher
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Benefits of the Maybank Platinum Visa Card

  • Local cash rebates. Enjoy up to 3.33% cash rebates on local purchases with a minimum monthly spend of S$300 for each quarter.
  • Overseas cash rebates. Overseas purchases have cash rebates of up to 0.3% with no minimum spend required
  • Discounted movie tickets. Receive up to S$3 off movie tickets at Shaw Theatres. T&Cs apply. Promotion is valid till 31 December 2019 and limited to the first 600 redemptions per month.
  • Travel insurance. You can get travel insurance coverage of up to S$500,000 complimentary travel insurance.
  • ATM access worldwide. There is a transaction fee of 5% or S$15, whichever is higher.
  • Savings account. You can use your Maybank Platinum Visa Card to qualify for the Maybank Save Up Programme, a savings accounts with up to 3% p.a. interest.
  • Money transfer. Transfer funds with your Maybank Platinum Visa Card to any overseas Visa card.
  • Sign-up offer. Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first two months.

Features of the Maybank Platinum Visa Card

Here are more details regarding this card’s features:

  • Quarterly service fee. There is no service fee for the first 3 years. After that, a quarterly fee of S$20 applies unless you make purchases on your card at least once every quarter.
  • Interest rates from 15% p.a. The Maybank Platinum Visa Card has an annual interest rate of 15% for accounts in good standing and an annual interest rate of 25.9% for accounts that are not in good standing.
  • Online statements. There are no paper statements with the Maybank Platinum Visa Card. Instead, you have 24/7 access to your last year’s bank statements online.
  • Visa payWave. With Visa payWave, you can make fast, contactless purchases.
  • Samsung Pay. With Samsung Pay, you can use your mobile phone to make purchases at most retailers across Singapore.

Application criteria

To apply for the Maybank Platinum Visa Card, click on the green “Go to Site” button. To be eligible for the card, you need to meet the following minimum criteria:

    • Be at least 21 years of age
    • Earn an annual income of at least
      • S$30,000 for Singapore citizens or permanent residents
      • S$45,000 for Malaysian citizens who have been employed for at least one year
      • S$60,000 for foreigners who have been employed for at least one year

    When applying you will need to provide the following:

    • Proof of identification. This includes a Singapore ID or a valid passport.
    • Proof of employment. Depending on your employment status, this may include a photocopy of your NRIC, your CPF contribution history for the past 12 months, payslips and/or an Income Tax Notice of Assessment.
    • Required documentation for foreigners. If you are not a Singaporean citizen or permanent resident, you will need to provide a valid employment pass, utility bill or bank statement and a letter stating your proof of employment.

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