With 4 mpd on all foreign currency (FCY) spending and a wide range of bonus categories, the Maybank XL Rewards Card is an easy recommendation— as long as you’re under 40.
This card offers 4 mpd on overseas spending, including education, hospitals, and utilities, plus bonus rates on dining, shopping, travel, and entertainment.
Verdict
☑ Take It
☐ Take It Or Leave It
☐ Leave It
Summary: With 4 mpd on FCY spend and multiple bonus categories, this card stands out— provided you’re not over 40.
Pros
- 4 mpd on FCY, dining, shopping, travel, entertainment
- Rewards on education, hospitals, utilities
- Amaze-compatible
- First two years’ annual fee waived
- Supplementary cards free
Cons
- Age limit: only for applicants under 40
- Limited transfer partners
- TREATS Points expire in 12–15 months
- S$500 minimum spend for bonus miles
- No Google Pay support, app ecosystem is clunky
Overview: Maybank XL Rewards Card
| Feature | Details |
|---|---|
| Income Requirement | S$30,000 p.a. |
| Annual Fee | S$87.20 (First 2 Years Waived) |
| Supplementary Fee | Free |
| Local Earn | 0.4 mpd |
| FCY Earn | 4 mpd |
| Bonus Spend | 4 mpd dining, shopping, travel, entertainment |
| FCY Fee | 3.25% |
| Min. Spend for Bonus | S$500/month |
| Monthly Cap | S$1,000 |
| Points Validity | 12–15 months |
| Min. Transfer | 25,000 points (10,000 miles) |
| Partners | 4 |
| Transfer Fee | S$27.25 |
| Lounge Access | No |
| Airport Limo | No |
| Pooling | Yes |
The XL series has two options: Rewards (miles) and Cashback. Both share the same categories and spend requirement. The Cashback variant offers 5% cashback, capped at S$80 per month. Customers may apply for both, but the S$500 spend threshold applies separately to each.
Eligibility
- Minimum annual income: S$30,000
- Age requirement: 21–39 years old only
Applications from customers aged 40 and above will not be accepted. Eligibility is determined at application time. Cardholders who apply before 40 can continue holding it beyond that age, but once cancelled, reapplication is not possible.
Annual Fee
- Principal Card: S$87.20 (first two years waived)
- Supplementary Card: Free for life
Subsequent fee waivers may be granted with S$6,000 annual spend.
Welcome Offers
- First 2,000 new-to-bank customers: S$60 cashback after activation and any spend
- Subsequent new-to-bank customers: S$10 cashback after activation and any spend
Eligibility: New-to-bank customers with no Maybank cards in the last 9 months.
Alternative: Other Maybank cards currently offer better sign-up gifts, such as a Samsonite Spinner for S$1,300 spend within 2 months.
Earn Rates
| Spend Type | Miles Earned |
|---|---|
| Local | 0.4 mpd |
| FCY | 4 mpd |
| Dining, Shopping, Travel, Entertainment | 4 mpd |
- Bonus applies with minimum S$500 monthly spend
- Capped at S$1,000 per month
- Beyond cap or without meeting minimum: 0.4 mpd
Examples:
- S$400 spend = 160 miles
- S$600 spend = 2,400 miles
- S$1,500 spend = 4,200 miles
Bonus applies to categories such as airlines, OTAs, hotels, e-commerce, streaming services, food delivery, restaurants, bars, and entertainment. Excluded categories include groceries, petrol, and transport (can be covered indirectly via vouchers coded as department stores).
FCY Spending
- FCY fee: 3.25%
- Equivalent cost per mile: ~0.81 cents
Amaze Compatibility
- SGD non-whitelisted: Not recommended (only 0.4 mpd, plus Amaze 1% fee)
- SGD whitelisted: Use card directly, 4 mpd
- FCY whitelisted: Use Amaze + card, ~2% fee + 4 mpd
- FCY non-whitelisted: Use card directly, 3.25% fee + 4 mpd
Points Crediting
- Base + bonus points posted monthly on the 11th of the next month
- Expiry: 12–15 months, based on quarterly earning period
- Pooling allowed across Maybank cards
- Rewards Infinite membership (with S$24,000 annual spend or with higher Maybank cards) extends validity to non-expiring
Transfer Partners
| Partner | Conversion Ratio |
|---|---|
| KrisFlyer | 25,000 : 10,000 |
| Asia Miles | 12,500 : 5,000 |
| Malaysia Airlines Enrich | 12,500 : 5,000 |
| AirAsia Rewards | 4,000 : 2,000 |
- Admin fee: S$27.25
- Transfer time: 1–2 working days (KrisFlyer)
Travel Insurance
First 15,000 cardholders get complimentary Etiqa Trip XpLorer Protect (up to S$5,000 coverage for leisure trips). Covers adventurous activities, but not a replacement for full insurance.
Final Words
The Maybank XL Rewards Card is a strong option for miles chasers under 40, offering 4 mpd across FCY and broad lifestyle categories. Its S$1,000 monthly cap aligns with similar cards on the market. The main limitation is its strict age restriction, making it advisable to apply before reaching 40.
