Maybank Family & Friends Credit Card Review: 8% Cashback On Your Favourite Categories

SingSaver team

SingSaver team

Last updated 25 December, 2023

If you fancy the idea of earning 8% cashback on your key spending categories, consider acquiring the Maybank Family & Friends Card. Yes, you can pick your own bonus cashback categories!

The recently revamped Maybank Family & Friends Credit Card is more flexible and generous than ever.

Aside from letting you chalk up a maximum of S$150 in cashback each month, you get to pick your own bonus 8% cashback categories. The customisation doesn’t stop there — you can select your favourite card design when you apply for this Maybank credit card as a new cardmember, too. 

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Looking for the best credit cards to complement your spending patterns and expenditure in 2024? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.


What the Maybank Family & Friends Credit Card can do for you

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Maybank Family & Friends Credit Card product summary: 

  • Highest Cashback Rate: 8%
  • Minimum Monthly spend: S$800
  • Income requirement: S$30,000 (Singaporeans/PR), S$45,000 (Malaysians), S$60,000 (Other foreigners)
  • Minimum age: 21
  • Annual fee: S$181.67 (First three years waived; 9% GST w.e.f. 1 Jan 2024)
Pros ✅ Cons ❌
Can pick preferred 8% cashback categories  S$25 monthly cashback cap for each bonus category
8% cashback categories can be changed trimonthly or every three months 0.3% cashback on all other spend
Up to S$150 cashback per calendar month 0.3% cashback on all spends below S$800
3-year annual fee waiver  

Why should you choose the Maybank Family & Friends Card?

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# 1: You can pick your own preferred 8% cashback categories

Besides letting you select your own preferred card design (three options available), you can also customise and choose your preferred 8% cashback categories (5 out of 10 options) according to your unique spending habits. 

This flexibility is great for those looking to maximise the amount of cashback they can milk from their expenses. These 8% cashback categories can be changed trimonthly or every three months.  

The bonus categories include: 

  • Groceries 
  • Dining & food delivery 
  • Transport 
  • Data communication & online TV streaming
  • Retail & pets 
  • Online fashion 
  • Entertainment
  • Pharmacy
  • Beauty & wellness
  • Sports and sports apparels 
  • Malaysian Ringgit Spend (automatically included on top of your 5 preferred categories)

#2: You can earn up to S$150 cashback per calendar month 

While the monthly S$150 cashback cap is more generous than what other competing cashback credit cards are offering, keep in mind this cap is split equally across your five chosen bonus 8% cashback categories, plus/and your Malaysian Ringgit spend. A S$25 monthly cashback cap applies to each bonus category.

To maximise your cashback, you should be spending at most S$312.50 on each of your chosen 8% cashback category. 


#3: Your average monthly credit card spend is above S$800

If you find yourself spending over S$800 every month across various categories, you might want to consolidate your spending and charge them to the Maybank Family & Friends Card to take advantage of the 8% cashback you could earn on your purchases. 

To earn 8% cashback equivalent to a maximum of S$150 each calendar month, you’ll have to spend a minimum of S$800 a month. 

💡 Pro-tip: Take a good look at your monthly expenses — do your homework and see if this credit card could be a good fit for your lifestyle. 


#4: Generous 3-year annual fee waiver

This might surprise you but most credit cards only offer an annual fee waiver for the first year. Maybank Family & Friends Card lets you enjoy the card’s benefits at no additional cost in your first three years. You can get free supplementary cards, too.

See also: Which Supplementary Cards Offer The Best Benefits?


What charges or fees should you look out for?

  • Annual fee: S$181.67 (First three years waived; 9% GST w.e.f. 1 Jan 2024) 
  • Cash advance fee: 6% or minimum S$15, whichever is higher
  • Late payment charge: S$100 or 5% of the minimum payment due, whichever is higher
  • Minimum monthly payment: 3% of outstanding balance or S$20, whichever is higher, plus any overdue amounts 
  • Interest on purchases: 26.9% p.a. subjected to compounding if full payment is not made by payment due date
  • Interest on cash advance: 26.9% p.a. compounded daily on the amount withdrawn from the transaction date until the date that full payment is made

Eligibility criteria

  • At least 21 years of age
  • Minimum annual income for Singapore citizens and PRs: S$30,000 
  • Minimum annual income for other foreigners: S$45,000 (Malaysians)
  • Minimum annual income for other foreigners: S$60,000 

How to apply?

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • Salaried employees: Past 12 months CPF statement (Singaporean/PR) or latest original computerised payslip or latest Income Tax Notice of Assessment and latest original computerised payslip
  • Self-employed: Latest two years of Income Tax Notice of Assessment
  • Foreigners: Valid passport, Employment Pass (with at least 6 months' validity), utilities bill or bank statement with residential address, and company letter stating proof of employment of at least 1 year.


Should you get the Maybank Family & Friends Card?

Maybank Family & Friends Card is a generous cashback credit card designed for people who: 

  1. Spend at least S$800 monthly
  2. Fancy the idea of earning 8% cashback on their preferred categories
  3. Routinely spend an almost equal amount of money on their chosen 8% cashback categories

Although cardmembers who want to maximise their cashback every month should keep a watchful eye on their expenses, they will appreciate the fact that Maybank has made tracking easy for all — simply access the ‘Benefit Optimiser’ feature in the bank’s TREATS SG digibank app. 


Looking for the best credit cards to complement your spending patterns and expenditure in 2024? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.


 

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