Maybank Evibes Card Review

Maybank eVibes Card Review 2022 – Best for Cash Rebates

Maybank eVibes Card Highlights

  •   Enjoy 1% cashback on all spend
  •   Get a $50 cash rebate sign up gift (when you spend $150 in three months)
  •   No general minimum spend limit

 

Introducing the Maybank eVibes Card

The Maybank eVibes Card is the best student credit card on the market right now for cash rebates. With every Maybank eVibes Card, the student gets to enjoy a cash rebate rate of 1% on all spend, no annual fee and a $ 500 credit limit – but a quarterly service fee will apply if the student card isn’t kept frequently active.

 

Maybank eVibes Card Review – Key Features of the Card

  • Existing tertiary students, NSF, young adults and other student types can earn 1% cashback on all spend with no minimum spend required
  • Students pay no annual charge, just a quarterly service fee that’s waived for the first two years if the eVibes Card the student card is regularly used (i.e., at least once every three months)
  • Cardholders get a $ 500 credit limit and up to 7% off accommodation bookings and hotel bookings worldwide
  • Customers can also enjoy discounts and enjoy deals with Maybank TREATS
  • All eligible students earning $30,000 or less can apply – including existing tertiary student and foreigner students
  • Claim a $50 cash rebate sign up gift just by spending $150 in your first three months of being a customer

 

Benefits of Maybank eVibes Card, the Student Gets a Quarterly Service Fee Waiver and More

1. Dining Out

Students and NSF men who spend on their Maybank eVibes Card will earn rewards at a rate of $ 1 cash rebate for every $1 spend. This “cashback on all spend” policy applies to any dining-related purchases made using your Maybank eVibes credit card.

What’s more, these cards are compatible with Samsung Pay and Apple Pay, making dining out even easier than usual.

2. Online Shopping Transactions

Just as with dining, Maybank eVibes credit card holders can earn a $ 1 cash rebate every time they spend $1 on online retail transactions. Samsung Pay and Apple Pay capabilities make shopping with MayBank eVibes super convenient and there are no minimum spending requirements to meet in order to enjoy those cash rebates.

That said, under Maybank’s latest sign up offer, you can claim $50 cashback if you manage to hit a minimum spending target of $150 within the first two months of your eVibes Card being approved.

3. Overseas or International Spending

The Maybank eVibes Card also entitles students to up to 7% off accommodation bookings and hotel bookings worldwide, making it a great choice for gap year students and travelers.

Despite this, however, there is a foreign currency transaction fee of 2.75% that you’ll want to be aware of while traveling.

 

Pros and Cons – From Quarterly Service Fee Charges to Cashback Perks 

Pros

  • No annual fees imposed – just a quarterly service fee that’s easy to avoid with a fee waiver if you keep your card active
  • Paying out money for virtually any retail transaction will earn you a $ 1 cash rebate per $1 spend
  • The Maybank eVibes Card is available to most students and young adults, including existing tertiary students and NSF men

Cons

  • Students earning above the annual income threshold of $30,000 won’t be able to apply for a Maybank eVibes Card
  • Maybank’s $ 500 credit limit might be too low for some when compared to other credit cards
  • No EZ Link capability is included, unlike other best student card options

 

How Does the Maybank eVibes Card Compare with Other Student Cards?

Curious as to how the Maybank eVibes Card shapes up against some of the other best student credit options on the Singapore market right now? Check out our comparison table below:

Bank / Student Credit Card Type

 

Minimum Spend Per Month Cashback Cap Annual Fee Cost Credit Limit Who Can Apply? Top Card Benefits
Maybank eVibes Student Card

 

N/A N/A $20

Fee waived if card remains active

 

$500 Students and NSFs enrolled in local tertiary institutions

Must be earning less than $30,00 annually

18-30s only

 

Enjoy 1% cash rebates available on all spend, not limited to specific retail transactions
Citibank Clear Card

 

N/A N/A $29.96

1-year fee waiver available

 

$500 Must be enrolled in local tertiary institutions

Over 18s only

 

Huge potential to earn and redeem points under the Citi ThankYou scheme

Excellent dining out benefits

 

DBS Live Fresh Student Card

 

N/A N/A $192.60

5-year fee waiver available

 

$500 Must be earning less than $30,000 annually

Over 18s only

Get up to 5% cashback on spending with selected brands using the DBS Live Fresh Student Card

0.3% cashback available on all other spending

 

CIMB AWSM Card

 

N/A N/A N/A $500 Must be earning less than $30,000 annually Pay no annual charge and get 1% unlimited cashback on eligible spending with a CIMB AWSM Card

 

Standard Chartered Bank Manhattan $500 Card

 

N/A $500 monthly $32.10

 

 

$500 Must be 18 to 32 years old

Must be earning more than $18,000 annually

Get 1% cashback on dining, entertainment, and online shopping

Earn 0.25% cashback on all spend

 

 

Maybank eVibes Card Review – Our Verdict

So, is the Maybank eVibes Card the best student credit card in Singapore? Well, as you can see from our comparison, most student cards on the Singapore market right now offer no minimum spending requirements and relatively lax – or even non-existent cashback caps.

At a glance, this makes the likes of the Maybank eVibes Card, CIMB AWSM Card and other credit cards look pretty similar. In actuality, however, the eVibes Card enables the student to enjoy much broader cashback earning potential.

This is because the Citi Clear Credit Card offers customers reward points instead of cashback, while other competitors like the CIMB AWSM Card and the DBS Live Fresh Student Card only offer their best cashback rates and cash rebates when you spend with certain brands or make highly specific purchases. 

In contrast, Maybank’s earnings potential applies to all spending categories. Add to that the fact that Maybank offers an attractive fee waiver and no set annual fee for its eVibes Card, and we think this is a great choice for students who want to really maximise cashback. 

 

Credit Card Payment Terminal

How to Apply for the Maybank eVibes Card – Eligibility Requirements and More

You can apply for your Maybank eVibes Card quickly and easily by visiting the Maybank website here. That said, there are a few things you need to know regarding eligibility and your monetary authority responsibilities before you can apply, get your hands on an acceptance letter and become an official eVibes Card customer.

To apply, you must meet the following service provider conditions:

  • Be aged 18 to 30
  • Hold Singapore Citizen or Permanent Residents status
  • Be an existing tertiary student, NSF, or student of NAFA, NIE, LASALLE, NTU, NP, NUS, NYP, RO, TP, SUTD, SUSS, SP, SIT or SMY

You must also ensure that you are not:

  • An existing Maybank Principal Credit Cardmember or CreditAble customer
  • Earning in excess of $30,000 a year

For every application for an eVibes Card the student, Singapore Citizen or Permanent Residents who apply must also ensure they are able to provide evidence of the following documents

  • NRIC and Student ID photocopies
  • SAF/SPF/SCDF11B ID card / tertiary institution proof photocopies
  • Parents’ NRIC and Guardianship photocopies (for applicants under 21)

 

Frequently Asked Questions (FAQs) About the Maybank eVibes Card

1. Does the Maybank eVibes Card Have Minimum Spend Terms?

No, there is no requirement for a minimum spend to enjoy the eVibes Card’s general cashback benefits. However, customers will need to hit a minimum spend of $150 in their first three months of being a customer if they wish to claim the $50 cash rebate sign up bonus.

2. What Other Student Card Alternatives Should I Consider?

Popular debit card options can always be considered as student card alternatives. a Revolut Card, for example, offers a multi currency account, no annual fee and no foreign transaction fees – which might make it a good fit for gap year students.

3. What is a Credit Limit?

A credit card credit limit is the maximum amount of money you can charge to your card or have as an outstanding balance / be paying out at any one time. With the Maybank eVibes Card, your credit limit is $500. Some banks may let you increase your credit limit if you hold a bank account or other products with them.

 

Final Thoughts – Is the Maybank eVibes Card Right for You?

So, the Maybank eVibes card offers students generous cashback on all kinds of purchases, $50 worth of rewards as a sign up gift and no annual fee cost assuming they use their cards at least once every three months. But is this card right for you? Be sure to consider the following before you apply:

  • While there is no annual fee, you will need to pay a quarterly service fee if you fail to use your student card at least once every three months
  • Only existing tertiary, NSF men and other certain types of student may apply for this card – and you must be earning less than $30,000 and hold Singapore Citizen or Permanent Residents status, too
  • Other credit cards in our best student card comparison might offer rewards that more closely suit your spending habits, or better interest rates or minimum monthly repayment terms – so always compare the market before you commit

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