Maybank has unveiled a new card called the Maybank Perks Card, which consolidates several cards from its existing portfolio. More specifically, it replaces the Maybank Horizon Platinum Visa Card, Maybank Visa Classic Card and Maybank Millennium Visa Classic Card.
Existing Maybank Horizon Platinum Visa Cards will be rebranded from 1 April 2026, while existing Maybank Visa Classic Cards and Maybank Millennium Visa Classic Cards will be deactivated on 30 June 2026.
This news has led to a lot of confusion online, due to people mistaking the Maybank Horizon Platinum Visa Card for the Maybank Horizon Visa Signature.
Despite the similar-sounding names, they are not the same card. There is no change to the Maybank Horizon Visa Signature, which continues to earn up to 2.8 mpd on FCY spending (no cap) and air tickets (S$10K monthly cap) with a minimum monthly spend of S$800.
And thank goodness for that, because the Maybank Perks Card is extremely underwhelming. I can’t think of anything this card does that others can’t do better, so if/when this shows up in your mailbox, do yourself a favour and ignore it.
| 😂 “We no longer offer Maybank Perks Card” |
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Maybank’s website, rather hilariously, says “We no longer offer Maybank Perks Card”. Um, no. What they meant to say is that they no longer offer the Maybank Horizon Platinum Visa, but someone went ahead and did a 1-for-1 swap of all card names ahead of time. |
Details: Maybank Perks Card
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| Apply | |||
| Income Req. | S$30,000 p.a. | Points Validity | 12-15 months |
| Annual Fee | S$32.70 |
Min. Transfer |
25,000 points (10,000 miles)* |
| Miles with Annual Fee |
N/A | Transfer Partners |
4 |
| FCY Fee | 3.25% | Transfer Fee | S$27.25 |
| Local Earn | 0.4 mpd | Points Pool? | Yes |
| FCY Earn | 2 mpd (min. S$500 spend in c. month) |
Lounge Access? | No |
| Special Earn | N/A | Airport Limo? | No |
| Cardholder Terms and Conditions | |||
Annual fee
The Maybank Perks Card has an annual fee of S$32.70, which will be automatically waived with a minimum spend of S$3,000 per annum.
This is conjecture on my part, but I can’t imagine having much problems waiving the fee even if you don’t hit that amount.
Earn rates
The Maybank Perks Card earns 0.4 mpd on local spending, and 2 mpd on FCY spending, subject to a minimum spend of S$500 in a calendar month.
| Base | Bonus | |
| Local | 1X TREATS Point per S$1 0.4 mpd |
– |
| FCY | 1X TREATS Point per S$1 0.4 mpd |
4X TREATS Point per S$1* (min. spend of S$500 per c. month) 1.6 mpd |
| *Bonus component will be awarded at the start of the following calendar month | ||
This is underwhelming, to say the least, when many other cards earn higher rates without the need for a minimum spend. Moreover, Maybank’s S$5 earning blocks will result in lost points due to rounding, especially on smaller transactions.
Complimentary travel insurance
The Maybank Perks Card offers complimentary travel insurance to cardholders who charge their travel fares to the card.
It is classified as “Card Type 2”, which means S$500,000 of coverage for accidental death, S$200 coverage for flight misconnections and luggage delays, and S$500 coverage for lost luggage, among other things.
But again, there’s little reason to use the Maybank Perks Card to buy your air tickets in the first place, when you could enjoy even better coverage (“Card Type 3”) and earn 2.8 mpd with the Maybank Horizon Visa Signature, capped at S$10,000 per month.
What is this card for, then?
I said at the start that I can’t think of a use case for the Maybank Perks Card, but let me really, really try.
Maybank still awards points for education and hospital spending, so if you had this kind of transaction, and if they were in FCY, and if they were in the S$500 to S$800 envelope, and if you couldn’t get a Maybank Visa Infinite, then yes, the Maybank Perks Card would be useful.
But realistically, you’re better off getting a Maybank Horizon Visa Signature or Maybank World Mastercard, which earn up to 2.8 or 3.2 mpd on FCY spending- uncapped.
What can you do with TREATS Points?
TREATS Points can be transferred to four airline partners, though Malaysia Airlines Enrich and airasia rewards are close to worthless in my opinion, leaving Asia Miles and KrisFlyer as the only realistic options.
| Frequent Flyer Programme | Conversion Ratio (TREATS Points: Partner) |
 |
25,000 : 10,000 |
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12,500 : 5,000 |
 |
12,500 : 5,000 |
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4,000 : 2,000 |
A S$27.25 conversion fee applies to all transfers, and TREATS Points are pooled among all Maybank cards.
As a reminder, you’ll need to download the Maybank TREATS app to convert TREATS Points to KrisFlyer miles. This is a separate app from the Maybank2u SG app that’s used for all other internet banking matters.
TREATS Points expire after 12-15 months, depending on when they were earned. However, if you have a Maybank Visa Infinite or Maybank World Mastercard, or spend at least S$24,000 in a membership year on your Maybank XL Rewards Card (not the XL Cashback Card), you’ll receive a Rewards Infinite membership that makes your points evergreen.
Conclusion
The new Maybank Perks Card can be safely ignored by most miles chasers, given its underwhelming earn rates and benefits. I find it difficult to get excited about an uncapped 2 mpd on FCY spend — with a minimum spend requirement, no less — when other cards do better with less hassle.
Perhaps the only good thing to come out of this is that Maybank Horizon Visa Signature remains untouched, and with the rebranding of the Maybank Horizon Platinum Visa, there’ll be less confusion between the two.
