Review: Maybank Horizon Visa Signature Card

The Maybank Horizon Visa Signature excels at FCY and air ticket spending, and its lack of exclusions is a pleasant surprise.

Here’s The MileLion’s review of the Maybank Horizon Visa Signature, which recently reinvented itself by adding a permanent 2.8 mpd on foreign currency (FCY) spending and air tickets— further boosted to 3.2 mpd for a limited time. 

It’s also one of the few cards left on the market that still offers rewards on charitable donations, education payments, insurance premiums and utilities, so if you can overlook the short validity of TREATS Points, this could very well be one to consider.

Maybank Horizon Visa Signature
🦁 MileLion Verdict
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What do these ratings mean?
The Maybank Horizon Visa Signature excels at FCY and air ticket spending- and its lack of exclusions is a pleasant surprise.
👍 The good👎 The bad
  • Uncapped 3.2 mpd on FCY spend
  • 3.2 mpd on up to S$10,000 of air tickets
  • No exclusions on donations, education, insurance and hospitals
  • S$5 earning blocks
  • TREATS Points expire after 12-15 months
  • Lounge visits require minimum spend
💳 Full List of Credit Card Reviews

Overview: Maybank Horizon Visa Signature

Let’s start this review by looking at the key features of the Maybank Horizon Visa Signature. 

Apply Here
Income Req.S$30,000 p.a.Points Validity12-15 months
Annual FeeS$180
(3 yrs free)
Min.
Transfer
25,000 points
(10,000 miles)*
Miles with
Annual Fee
N/ATransfer
Partners
  • SIA
  • Air Asia
  • Cathay
  • MAS
FCY Fee3.25%Transfer FeeS$27
Local Earn0.4 mpdPoints Pool?Yes
FCY Earn2.8 mpd^
Lounge Access?No
Special Earn1.2 mpd on selected local spend
2.8 mpd on air tickets^
Airport Limo?No
Cardholder Terms and Conditions
^Temporarily upsized to 3.2 mpd
*For KrisFlyer; 5,000 miles for Cathay and MAS, 2,000 points for Air Asia

For the record, Maybank offers two different Horizon Visa Signature Cards: 

  1. Maybank Horizon Visa Signature Card
  2. Maybank Privilege Horizon Visa Signature Card
 
MB HorizonMB Privilege Horizon
Min. AUMN/AS$50K
Annual FeeWaive for 3 yearsPerpetual waiver
Airport TransferN/A2x free Grab rides
Lounge AccessMin. S$1K spendMin. S$500 spend

The cards have identical earn rates, but the Privilege version has some additional benefits such as two complimentary Grab rides to the airport, a perpetual annual fee waiver, and half the minimum spend requirement for lounge visits. 

This article will be focusing on the regular Maybank Horizon Visa Signature Card.

How much must I earn to qualify for a Maybank Horizon Visa Signature Card?

dbs altitude income requirement

The Maybank Horizon Visa Signature Card has a minimum income requirement of S$30,000 p.a., the MAS-mandated minimum.

I’m not aware of any secured credit card option for those who don’t meet the minimum requirement, but there’s no harm walking into a branch to check.

How much is the Maybank Horizon Visa Signature Card annual fee?

 Principal CardSupp. Card
First 3 YearsWaivedFree
SubsequentS$180Free

The Maybank Horizon Visa Signature Card has an annual fee of S$180, which is waived for the first three years. The fee remained constant even when GST rose from 7 to 8%, so one hopes there’ll be no change in 2024 either when GST further rises to 9%. 

No miles are offered upon approval or renewing this card. Subsequent years’ annual fees will be automatically waived with a minimum total spend of S$18,000 per membership year.

All supplementary cards are free for life.

What welcome offers are available?

Apply Here

From now to 31 December 2023, new-to-bank customers who apply for a Maybank Horizon Visa Signature Card will receive S$60 cash from SingSaver, as well as a chance to win additional lucky draw prizes in the ongoing 101 Milestone Giveaway.

This is further stackable with Maybank’s welcome gifts, featuring a choice of:

  • 2x American Tourister Linex 66/24 Luggage (worth S$336)
  • Apple AirPods (3rd Gen) with Lightning Charging Case (worth S$261.40)
  • S$200 cash credit
  • 10,000 KrisFlyer miles (in the form of 25,000 TREATS points)

Cardholders must spend a minimum of S$600 per month for the first two consecutive months after approval. For example, if your card is approved on 15 November 2023, your spend periods are:

  • Spend Period 1: 15 November 2023 to 14 December 2023
  • Spend Period 2: 15 December 2023 to 14 January 2024

Per clause 4(a) of the T&Cs, you also need to apply for a CreditAble account to be eligible for the gift. However, there is no need to charge anything to this facility if you don’t wish to. 

If you’re approved for the Maybank Horizon Visa Signature but rejected for the CreditAble account (or forget to apply), you can still qualify provided you spend S$650 per month for the first two consecutive months. 

How many miles do I earn?

🇸🇬 SGD Spend🌎 FCY Spend⭐ Bonus Spend
0.29 – 0.4 mpd2.8 mpd*Air tickets: 2.8 mpd*
Selected local trxns: 1.2 mpd
*Temporarily upsized to 3.2 mpd for a limited time

The Maybank Horizon Visa Signature Card’s earn structure depends on whether you spend at least S$800 per calendar month.

Spend <S$800 per calendar month

CurrencyCategoryEarn Rate
LocalEducation
Insurance
Medical
Utilities
0.24 mpd
Dining
Food Delivery
Supermarkets
Transport
Petrol
Department and Retail Stores
Air Tickets
Hotels
Cruises
Travel Packages
Car Rental
1.2 mpd
All other local spend0.4 mpd
FCYAll FCY spend1.2 mpd

0.24 mpd

Local transactions on education, insurance, medical and utilities will earn 3 TREATS Points per S$5 spent (0.24 mpd). 

This sounds low, but given that most banks exclude these categories altogether, it’s still better than nothing. Moreover, the mere fact that these transactions earn points means you can use them to meet the minimum spend for welcome offers on Maybank cards.

1.2 mpd

Cardholders will earn 15 TREATS points per S$5 spent (1.2 mpd) on:

  • FCY transactions in any category
  • Local transactions in the following categories:

0.4 mpd

Any local transaction that does not fall into the MCCs listed in the previous section will earn 5 TREATS points per S$5 spent (0.4 mpd). 

Spend ≥S$800 per calendar month

CurrencyCategoryEarn Rate
LocalEducation
Insurance
Medical
Utilities
0.24 mpd
Dining
Food Delivery
Supermarkets
Transport
Petrol
Department and Retail Stores
Hotels
Cruises
Travel Packages
Car Rental
1.2 mpd
All other local spend0.4 mpd
Local or FCYAir Tickets2.8 mpd*
FCYAll FCY spend2.8 mpd
*Capped at S$10,000 per calendar month

Cardholders who spend at least S$800 per calendar month will earn:

  • 35 TREATS points per S$5 spent (2.8 mpd) on FCY spend (no cap)
  • 35 TREATS points per S$5 spent (2.8 mpd) on air tickets (capped at S$10,000 per calendar month)

Maybank defines FCY spend as card retail transactions posted in foreign currencies, regardless of whether they’re online or in-person. This includes foreign currency spend on donations, education, utilities, and private hospitals too!

Air ticket spend is classified as transactions posted in Singapore dollars (if you have air tickets in FCY, they fall under the previous paragraph, with no cap) under MCCs 4511 and 3000-3350. This includes Singapore Airlines, Scoot, British Airways, Cathay Pacific, Qatar Airways and pretty much every major airline out there. 

Do note that Maybank is running a limited-time promotion that upsizes the earn rates on FCY spend and air tickets to 40 TREATS points per S$5 spent (3.2 mpd). The details can be found in the expandable section below.

Maybank Horizon Visa Signature 3.2 mpd Promotion

New and existing Maybank Horizon Visa Signature Cardholders can earn 3.2 mpd on FCY spend and air tickets, subject to a minimum spend of S$800 in a calendar month.

 New cardholdersExisting cardholders
DefinitionCard approved from 1 Nov 2023 to 31 Mar 2024Card approved before 1 Nov 2023
Spend Period3-4 months
(Approval month + 3 full calendar months)
3 months
(1 Nov 2023 to 31 Jan 2024)
Min. SpendS$800 per calendar month
FCY Spend
(no cap)
2.8 mpd
3.2 mpd
Air Tickets
(S$10K per calendar month)
2.8 mpd
3.2 mpd

There is no cap on the 3.2 mpd earn rate for FCY spend, and a cap of S$10,000 per calendar month on the 3.2 mpd earn rate for air tickets. 

New cardholders

New cardholders are defined as those who receive approval for a Maybank Horizon Visa Signature Card between 1 November 2023 to 31 March 2024 (both dates inclusive).

They will earn the upsized 3.2 mpd rate on FCY and air ticket transactions for the month of approval, plus another three full calendar months.

Card Approval 3.2 mpd Period
1-30 November 2023Approval date till 29 February 2024
1-31 December 2023Approval date till 31 March 2024
1-31 January 2024Approval date till 30 April 2024
1-29 February 2024Approval date till 31 May 2024
1-31 March 2024Approval date till 30 June 2024

Depending on when your approval comes in, therefore, your 3.2 mpd period is anywhere between 3-4 months.

I would recommend timing your application so it coincides with the period where you expect to make the most FCY spend. Such is the nature of this promotion that even if you have no travel plans for December 2023, you could delay your application and make use of the promotion as late as June 2024!

Existing cardholders

Existing cardholders are defined as those who received approval for a Maybank Horizon Visa Signature Card prior to 1 November 2023. 

In this case, you’ll earn 3.2 mpd for three months from 1 November 2023 to 31 January 2024.

All FCY transactions are subject to a 3.25% fee, which means using your Maybank Horizon Visa Signature Card overseas represents buying miles at 1.02 cents (at 3.2 mpd) or 1.16 cents (at 2.8 mpd).

💳 FCY Fees by Issuer and Card Network
Issuer↓ MC & VisaAMEX
Standard Chartered 3.5% N/A
American ExpressN/A 3.25% 
Citibank 3.25% N/A
DBS 3.25%  3% 
HSBC 3.25% N/A
Maybank 3.25% N/A
OCBC 3.25% N/A
UOB 3.25%  3.25% 
BOC 3% N/A
CIMB 3% N/A

What counts towards the S$800 minimum spend?

All transactions that are eligible to earn TREATS Points will also count towards the minimum spend. 

So, for example, charitable donations, education payments, insurance premiums and utilities bills will all be included in the S$800 figure. 

When are TREATS Points credited?

Maybank’s T&Cs are silent as to how base and bonus TREATS Points are awarded, so it’s unclear whether they post as one lump sum, or in two separate batches. 

How are TREATS Points calculated?

Here’s how you can work out the TREATS Points earned on your Maybank Horizon Visa Signature Card.

General local spend (0.4 mpd)Round down transaction to the nearest S$5, divide by 5, then multiply by 5
Selected local spend (1.2 mpd)Round down transaction to the nearest S$5, divide by 5, then multiply by 15
Air tickets & FCY
(2.8 mpd)
Round down transaction to the nearest S$5, divide by 5, then multiply by 35
Air tickets & FCY
(3.2 mpd)
Round down transaction to the nearest S$5, divide by 5, then multiply by 40

The minimum spend to earn points would be S$5, whether in local or foreign currency. This has been the case ever since 1 January 2023, when Maybank switched from S$1 earning blocks to S$5 earning blocks.

If you’re an Excel geek, here’s the formulas you need to calculate points: 

General local spend (0.4 mpd)=ROUND (ROUNDDOWN(X/5,0)*5,0)
Selected local spend (1.2 mpd)=ROUND (ROUNDDOWN(X/5,0)*15,0)
Air tickets & FCY
(2.8 mpd)
=ROUND (ROUNDDOWN(X/5,0)*35,0)
Air tickets & FCY
(3.2 mpd)
=ROUND (ROUNDDOWN(X/5,0)*40,0)
Where X= Amount Spent

For the full list of formulas that banks use to calculate credit card points, do refer to these articles:

What transactions aren’t eligible for TREATS Points?

A full list of transactions that do not earn TREATS Points can be found in the T&Cs.

I’ve highlighted a few noteworthy categories below:

  • Betting and gambling transactions
  • Brokerage and securities transactions
  • Government services 
  • Prepaid account top-ups, e.g. GrabPay and YouTrip

For avoidance of doubt, you will earn rewards on charitable donations, education, insurance premiums, hospital bills and utilities payments. While the earn rate for these is just 0.24 mpd when in SGD (0.4 mpd for donations), charge it in FCY and the earn rate jumps to 3.2 mpd!

I can imagine this being great news for anyone with kids studying overseas, for example. 

What do I need to know about TREATS Points?

❌ Expiry↔️ Pooling💰 Transfer Fee
12-15 monthsYes
S$27
⬆️ Min. Transfer ✈️ No. of Partners⏱️ Transfer Time
Varies47 days
(to KF)

Expiry

TREATS Points earned on the Maybank Horizon Visa Signature normally expire one year from the quarterly period in which they were earned (i.e. 12-15 months’ validity).

Points Earned Expire On
1 Jan to 31 Mar 202331 Mar 2024
1 Apr to 30 Jun 202330 Jun 2024
1 Jul to 30 Sep 202330 Sep 2024
1 Oct to 31 Dec 202331 Dec 2024

However, Maybank offers a Rewards Infinite (RI) programme to cardholders who spend at least S$24,000 in a membership year. 

If you’re a member of RI, your TREATS Points will never expire. 

Maybank Visa Infinite, World Mastercard and Catholic High Alumni Platinum Associates cardholders are automatically granted an RI membership, so if you hold one of these cards then the TREATS Points earned on your Maybank Horizon Visa Signature Card will also never expire (since they pool).

Pooling

TREATS Points pool with other Maybank cards. If you have 20,000 TREATS Points on the Maybank Visa Infinite, and 5,000 TREATS Points on the Maybank Horizon Visa Signature,  you can redeem 25,000 TREATS Points at one shot.

This also means that if you cancel your Maybank Horizon Visa Signature Card, you won’t lose your accumulated TREATS Points unless it happens to be your very last TREATS-earning card.

Transfer Partners & Fees

TREATS Points can be transferred to the following partners:

Frequent Flyer ProgrammeConversion Ratio
(TREATS Points: Partner)
krisflyer logo25,000: 10,000*
asia miles logo12,500: 5,000
12,500: 5,000
4,000: 2,000
*You must convert via the TREATS SG app (Android | iOS) in order to enjoy the rate above. If you opt for a manual conversion, you’ll receive an inferior rate of 30,000 points = 10,000 miles. 

A S$27 fee applies to all transfers.

Maybank Visa Infinite and Maybank World Mastercard cardmembers enjoy free points transfers, so if you hold one of these cards you can enjoy free transfers for points earned on your Maybank Horizon Visa Signature Card as well.

Transfer Time

Conversions to KrisFlyer miles are generally completed within a week. 

Other card perks

Complimentary lounge access

Plaza Premium Lounge KLIA T2

Principal Maybank Horizon Visa Signature Cardholders will receive a complimentary lounge pass when they spend a minimum of S$1,000 in a single retail transaction in the three months prior to the lounge visit. 

This can be redeemed for a 3-hour visit to any of the following lounges:

  • Singapore
    • Plaza Premium Lounge Terminal 1
    • Ambassador Transit Lounge Terminal 2
    • Ambassador Transit Lounge Terminal 3
    • Blossom Lounge Terminal 4
  • Kuala Lumpur
    • Plaza Premium Lounge KLIA Terminal 1
    • Plaza Premium Lounge KLIA Terminal 2
  • Hong Kong
    • Plaza Premium Lounge Terminal 1 (Near Gate 35)
    • Plaza Premium Lounge Terminal 1 (Near Gate 1)

A maximum of one complimentary visit per month will be issued. Accompanying guests will enjoy 20% off walk-in rates.

Complimentary travel insurance

Accidental DeathS$1,000,000
Medical ExpensesN/A
Others

Missed Connection :S$400
Luggage Delay: S$400
Lost Luggage: S$1,000

Policy Wording

Maybank Horizon Visa Signature Cardholders receive complimentary travel insurance when they charge their full travel fares to their card. Unfortunately, coverage will not apply in situations where you redeem miles for an award ticket, and charge the taxes and fees to your card.

This features up to S$1,000,000 coverage for accidental death or total permanent disablement, S$400 for luggage delays or missed connections, and S$1,000 for luggage loss.

However, there is no coverage for medical expenses or emergency medical evacuation. Because of this, I highly advise that you purchase comprehensive travel insurance elsewhere.

Terms & Conditions

Summary Review: Maybank Horizon Visa Signature

Apply Here

With its limited-time bonuses of 3.2 mpd on FCY spend (uncapped) and air tickets (capped at S$10,000), the Maybank Horizon Visa Signature is certainly a force to be reckoned with. Even after these rates revert to the regular 2.8 mpd, there’s still a case to be made for using this card in order to preserve the 4-6 mpd caps on other specialised spending cards.

It’s also refreshing to see so few rewards exclusion categories, with cardholders able to earn points or clock welcome offer minimum spend on charitable donations, education, insurance premiums or utilities bills. 

Main drawbacks are the limited lifespan of TREATS Points and the need to clock at least S$800 a month to enjoy the upsized miles, but if their uncapped nature is what draws you, then it’s unlikely a minimum spend requirement will be much of a barrier in the first place. 

Aaron Wong
Aaron Wong
Aaron founded The Milelion to help people travel better for less and impress chiobu. He was 50% successful.

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Jim

Hello! May I ask for S$800 minimum spending per calendar month requirement, is it I have to spend S$800 for each calendar month during the entire 3-4 month promotion period, or if I want to enjoy the 3.2mpd upsized promotion for my spending in December, then I only need to spend S$800 in December (no need to spend any money in Nov or January)?

Narc

Does anyone know if we can still use RentHero for Maybank Horizon card?

ksp210

Not a deal breaker but Maybank cards don’t support Google Pay. Only Apple and Samsung.

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