maybank family and friends card

Maybank Family and Friends Card Review: Best for Low Spenders

Maybank Family and Friends offers the best way to get huge cashback on spending categories that you frequently spend on. Young professionals and starting families can gain benefits by selecting any of the five key spending categories with a budget of S $800 per month. However, this card isn’t for frequent travelers and flyers as it lacks miles and travel perks.  Find out more on the best credit cards in Singapore.

Key Features

  • An annual fee of S$180 with a three-year waiver
  • 8% cashback on dining, food delivery, retail, groceries, petrol discounts, and online streaming
  • 0.3% cashback on all other spending
  • Minimum annual income of S $30,000 (S $45,000 for foreigners)
  • S $125 cashback per month with S $800 min spend
  • 0.3% cashback all other spend
  • 20-day interest-free period
  • 25.90% annual interest rate
  • Late payment fees up to 5% or S $80, whichever is greater
  • Minimum monthly payment of 3% or S $20, whichever is higher
  • Cash advance transaction fee of 5% or S $15, whichever is higher

 

Benefits

Grocery

Get up to 8% cashback on all groceries

Complete Merchant List:

  • NTUC FairPrice/Finest/X-tra
  • Cold Storage
  • Giant
  • Market Place
  • Jasons
  • Sheng Siong
  • DON DON DONKI
  • HAO Mart
  • RedMart
  • Amazon Fresh
  • All other grocery stores and supermarkets globally

Petrol

Get up to 8% cashback from all petrol stations in Singapore and Malaysia.

Cashback is also available for the following:

  • Contactless bus and train rides,
  • Limousines, Taxi, Grab/GOJEK rides, other passenger transportation services and automotive-related services globally

Dining

Get up to 8% cashback from all restaurants in Singapore and Malaysia. You can get cashback by using Foodpanda and Deliveroo in Singapore or other countries too.

Entertainment

Get up to 8% cash back from data and online TV streaming services.

Data communication services list:

  • StarHub
  • Singtel
  • M1 Limited
  • Circles.Life
  • MyRepublic 
  • All other telecommunication services in Singapore

Online TV services list:

  • Netflix
  • Spotify
  • Other related services operating in Singapore

Shopping

Get up to 8% cash rebate from shopping in POPULAR bookstores, Toys ‘R’ Us, and Yamaha Music.

Pros and Cons

Pros

  • An excellent card for frequent grocers, young professionals, and starting families
  • Works well if your budget goes over S $800 a month
  • Have 8% cashback up to S $125 monthly on any category you prefer
  • Get a three-year annual fee waiver after signing up.

Cons

  • S $125 cashback cap is easy to hit 
  • No miles and travel perks

Maybank Family and Friends Credit Card vs. Other Cards In the Market

Here’s how Maybank Family and Friends does against other cards in the market.

 

Credit Card Minimum Income Requirement Annual Interest Rate Cashback Cashback Cap Minimum Monthly Spending Rewards
Maybank Family and Friends Card S $30,000 (S $60,000) 25.90% 8% S $125 (Monthly) S $800
  • 8% cashback on groceries, dining, food delivery, transportation, TV streaming services, and pet and vet services
  • 8% cashback capped at S $125 per month and S $25 per category.
Citi Rewards Card + Mastercard S $30,000 (S $42,000 for foreigners) 26.90% 1.6%-5% Unlimited None
  • Unlimited cashback without cap
  • Waived first-year annual interest rate
  • Cashback earned doesn’t expire
  • Pay With Points and SMS-claimable cash rebate
American Express True Cashback Card S $30,000 (S $60,000 for foreigners) 26.90% 3.0% Unlimited None
  • Unlimited cashback without cap
  • 22-Day interest-free period
  • 3% Cashback for the first six months. Spending cap of S $5,000
  • 1.5% cashback on any purchases after the first six months with no caps.
HSBC Revolution Credit Card S $30,000 (S $40,000 for foreigners) 26.80% 2.5% Unlimited None
  • 4 miles or 10 points per S $1 spend online and via contactless payments (airlines, food delivery, and retail)
  • 0.4 miles (1 point) per S$1 on all other spend (non-contactless payment)
  • No minimum spend requirement and no annual fee
  • 16% off petrol at Caltex and 14% off at Shell
POSB Everyday Card S $30,000 (S $45,000 for foreigners) 26.80% 10% Unlimited None
  • 10% cashback on food delivery
  • 3% cashback on utilities and telecom bills
  • 21.8% fuel discount at SPC
  • 0.3% cashback on other spending

 

Our Verdict

Maybank Family & Friends Card is one of the most remarkable cards if you’re not a frequent flyer and are much more concerned with your pay television, transportation expenses, or recent dining spending. The ability to choose your own preferred categories is useful in maximizing your Maybank credit card’s cash rebates.

The 8% cash rebate is one of the biggest for these five often-used spending categories for most Singaporeans and foreigners in Singapore. One of the family qualms is the low S $125 per month cashback cap that’s too easy and quick to hit on an S $800 monthly budget.

The best recommendation that can hold its water against this card is POSB’s Everyday Card, which provides you with 10% cashback on food delivery and an enormous 3% cashback on utilities and telecom bills. Another is the HSBC Revolution Card, which rewards you with points for the same spending category, and each point is equivalent to S $1.

Who Should Use This Card?

young asian woman use credit card

Maybank Family and Friends Credit Card is best for individuals and families who are only starting out. Even if you’re a frequent shopper in Malaysia or the Philippines, you’re most likely to get higher returns because your preferred cashback categories apply mostly to local Singaporean establishments.

How To Apply For The Maybank Family and Friends Credit Card?

Here’s everything you need to know in applying for the Maybank Family and Friends Credit Card.

Eligibility

  • At least 21 years of age for primary card holders and 18 for supplementary card users
  • Minimum income of S $30,000 for Singaporeans and PRs
  • Minimum income of S $45,000 for foreigners and in employment for at least 1 year.

Requirements

  • Photocopy of NRIC (front and back) AND
  • Latest 12 months of CPF contribution history
  • Latest computerized payslip
  • Latest Income Tax Notice of Assessment

Additional Requirements for Foreigners

  • Valid passport
  • Employment Pass with at least 6 months validity
  • Utilities bill or bank statement with residential address
  • Company letter stating proof of employment of at least 1 year

Steps

  • Head to Maybank’s Credit Card Application page
  • Choose Maybank Family and Friends Card and click “Apply Now”
  • Select between applying using MyInfo with Singpass or fill in the form manually
  • Submit all necessary requirements
  • Wait for Maybank’s decision on your credit card application

Other Things You Need to Know About Cashback Credit Cards

What’s the Difference Between a Cashback and Rewards Credit Card?

Cashback credit cards don’t use a rewards points system and lock in their customers in a customized discount shop where they can spend their points. They reward cardholders with actual cash automatically reimbursed in their account. 

Rewards cards give you points to purchase vouchers of your choosing. The reward points shop of most credit card companies may limit the discounts and miles packages available to you.

Which Should I Choose Between Cashback and Rewards Credit Cards?

Both cashback and rewards credit cards have their benefits. However, we highly suggest looking for a lifestyle-compatible credit card instead. For example, the Maybank Family & Friends card is highly useful for young professionals and families because the 8% cashback category helps them save S $125 easily in a month thanks to its cashback program.

On the other hand, we can suggest HSBC Revolution Card for frequent shoppers that want to have travel perks or POSB Everyday Card for POSB customers that want an equivalent to the Maybank Family and Friends Credit Card without using another bank.

Our Final Thoughts

The Maybank Family and Friends Credit Card comes highly recommended to professionals and families planting their roots and just starting out. While it might not have the best travel perks due to the lack of miles points conversions, it does extremely well as an everyday card for groceries and retail shopping, entertainment, telecommunications spending, and beyond.

  • The Maybank Family and Friends Card focuses on everyday spending categories that most Singaporean and foreign families in Singapore use everyday.
  • You can get up to 8% cashback with a S $125 monthly cashback cap on various categories, including transport, shopping, entertainment, dining, and groceries. 
  • You get up to 0.3% cashback on other spending categories
  • The card has a minimum income requirement of S $30,000 (S $45,000 for foreigners) and a spending amount requirement of S $800 monthly
  • If you’re a frequent traveler, you can use this card as a cashback supplement for your shopping needs.

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