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Maybank Horizon Visa Signature Card Review

Pros:

  • 3.2 miles per dollar on local dining, petrol, taxi fares and ride-sharing, 2 miles per dollar for overseas
  • 3 year fee waiver of annual fee of $180 (Subsequent annual fee waived with minimum annual spend of $18,000)
  • Complimentary travel accident insurance of up to $1 million when you charge your travel fares in full to the card

Cons:

  • 0.4 miles per dollar on general spend
  • Minimum monthly spend of $300 to earn standard air miles rate
  • Limited complimentary airport lounge access and subject to a single retail transaction of $1,000 within 3 months prior to the date of travel
Summary
Local Spend: 3.2 miles per $1 spend
Overseas Spend: 2 miles per $1 spend
Income Requirement: $30,000 (Singaporeans/PR), $60,000 (Foreigners)
Minimum Age: 21
Annual Fee (Waiver): $180 (First 3 years waived)
Sign-up promotion: $50 cash credit by Maybank when you apply for two new Maybank Credit Cards and CreditAble, and charge to your card and/or withdraw from your CreditAble Account a minimum of $500 within the first two months of approval.

Table of Content

Why should you choose Maybank Horizon Visa Signature card

Do you regularly spend on dining, petrol, taxi fares and ride-sharing?
Maybank Horizon Visa Signature card will appeal to frequent local travelers as it offers a market-leading 3.2 miles per dollar local spend on dining, petrol, taxi fares and ride-sharing. Overseas spend will earn you 2 air miles per dollar spend on air tickets, travel packages and foreign currency transactions. What makes Maybank Horizon Visa Signature card advantageous for frequent local travelers aside from the generous 3.2 air miles per $1 local spend is its applicability to all restaurant dining and petrol stations in Singapore, and selected local taxi service providers, namely Comfort Taxi, Premier Taxi, SMRT Taxi, Prime Taxi, Trans‐Cab CityCab, and Grab. Cardholders can earn air miles faster by eating out, pumping up and moving around in Singapore using Maybank Horizon Visa Signature card.
Is your annual fee waived?
Although most credit cards offer annual fee waivers to entice new customers to sign up, Maybank Horizon Visa Signature card offer a three year annual fee waiver while subsequent annual fee can be waived with a minimum spend of $18,000 per year.
Which airline do you book your flights often?
Exclusive promotional marketing between credit cards and airline companies give their respective customers the privilege to earn higher air miles rate for charging their travel fares using the credit card. But Maybank Horizon Visa Signature card does not need one as its air miles conversion rate is applicable to all airlines. So whether you prefer a budget or a major airline, you earn 2 miles per dollar spend on air tickets including travel packages and foreign currency transactions.
Do you need an additional travel insurance for your family members?
Chances are you need an additional travel insurance for your family members to protect them while in transit to your dream vacation. To do so just charge your full travel fares (including the fares of your spouse and dependent children under the age of 23) to your Maybank Horizon Visa Signature card to get up to $1 million in complimentary travel insurance coverage in the event of death or permanent disablement.

Using the Maybank Horizon Visa Signature card in your favour

If you regularly spend on dining, petrol, taxi fares including ride-sharing services, consider the Maybank Horizon Visa Signature card with its market-leading 3.2 miles per $1 local spend. Traveling overseas will earn 2 miles per $1 spend on air tickets including travel packages and foreign currency transactions. A let down is the lack of travel perks such as airport transfer service and limited airport lounge access which is subject to a minimum single retail transaction of $1,000 within 3 months prior to the date of travel. Maybank Horizon Visa Signature card also offers complimentary travel accident insurance of up to $1 million with travel inconvenience with repatriation coverage for you and your family. Lastly, Maybank Horizon Visa Signature card is one of the cheapest credit card to maintain due to an annual fee of $180, which is waived for the first 3 years.

Who can apply

Age Eligibility At least 21 years of age
Income Eligibility Singaporeans/PRs: $30,000 of annual income
Foreigners: $60,000 of annual income

Charges or fees you should be aware of

Annual Fees $180 (First 3 years waived)
Late Payment Charge $80
Interest on Purchases 25.9% per annum calculated daily from the date each transaction is posted to your card account until full payment is received.
Interest on Cash Advance 25.9% per annum will be charged upon the withdrawal date until the withdrawal amount and the relevant fees are paid in full.

How to apply

Click on the “Apply Now” button and complete the application form on SingSaver site.

Here is what you will need during the application process:

  • Front and back of NRIC/Passport/Employment Pass
  • For salaried employees,
    • Past 12 months CPF statement (if Singaporean/PR); OR
    • Latest Income Tax Notice of Assessment and latest original computerised payslip
  • For self-employed,
    • Latest Income Tax Notice of Assessment and latest original computerised payslip

Similar cards to consider:


Looking to compare it with another air miles card?

High miles per dollar earn rate: UOB PRVI Miles
No air miles expiry date card: Citi PremierMiles Visa
Entry-level card for bonus miles: AMEX KrisFlyer Blue

Looking for other credit cards? Check out the Best Credit Cards in Singapore 2019.