Our team at ValuePenguin loves the Maybank Horizon Visa Signature Card for its combination of affordability and a unique rewards system. Maybank Horizon card earns air miles both for your spending on everyday needs and for your travel expenses. This is a card that won't break the bank and whose versatility enables you to take it everywhere you go, from your commute to work, to Sunday brunch and to your vacation in Bali. We hope that this review will help you decide if the Maybank Horizon Visa Signature Card is the best card for you and your family's lifestyle.
What makes the Maybank Horizon Visa Signature Card Stand Out: No Fee Miles Card For Dining, Petrol and Travel
The Maybank Horizon Visa Signature Card is an affordable miles card tailor-made for people with a highly mobile lifestyle seeking to earn travel rewards no matter where they go. For every Singapore dollar spent on dining, petrol, taxi fares, and hotel bookings, the Maybank Horizon Visa Signature Card awards 3.2 miles. It also rewards customers with 2 miles for every S$1 spent overseas, on airfare and on travel packages. These attributes make it a card great for professionals because it can earn rewards throughout their day, from when they commute to and from work, to when they grab lunch at the restaurant around the corner, and to when they go on a business trip overseas.
What's more, featuring a low annual fee of S$180 that can be easily waived by spending only S$18,000 a year, the Maybank Horizon Visa Signature Card is highly affordable. We also think this is a good card for families, as it enables you to earn air miles on all the expenses associated with your family vacations as well as the normal costs of everyday life, making the next family trip that much easier to plan.
The Maybank Horizon Visa Signature Card does come with a few drawbacks that prospective cardholders would do well to keep in mind, however. For one thing, unlike many other cards, this card does not offer any opportunities for cashback or discounted rates on expenses. Because you'll need to spend regularly on petrol, dining outside the home, and travel to get the best value out of this card, it is less suitable for people who tend to use public transportation to get around, don't have a car, rarely go out to eat, or work from home. Those for whom shopping, groceries or utility expenses make up a big part of their budget should note that you can only earn 0.4 miles for every S$1 spent on categories other than dining, petrol and travel.
It should be noted that points earned with this card expires after a year, so infrequent travelers may have to worry about earned miles going to waste. Finally, individuals who don't anticipate spending at least S$18,000 a year with this card will be obligated to pay the S$180 annual fee, which consumers on a tight budget may be sensitive to.
Maybank Horizon Visa Signature Card Benefits & Features
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How does Maybank Horizon Visa Signature Card Compare Against Other Credit Cards?
To help you decide if the Maybank Horizon Visa Signature Card is the right card for your lifestyle, we've taken the time to compare it to the leading travel rewards cards in Singapore. All good cards, they each inhabit a different niche and target a different kind of consumer.
Maybank Horizon Visa Signature Card vs HSBC Revolution
The HSBC Revolution Card is another air miles credit card with an easy fee waiver. HSBC Revolution Card focuses on rewarding you on slightly different categories than Maybank Horizon: dining, entertainment and online shopping. Specifically, the HSBC Revolution awards cardholders 2 miles per S$1 spent on these three categories. This makes it a great alternative to the Maybank Horizon Visa Signature Card for consumers who travel less frequently, are active shoppers, or love to enjoy Singapore's nightlife. Also, HSBC Revolution's reward categories represent some of the biggest spending areas for the average consumer, making it more useful for an average consumer than Maybank Horizon.
However, this card may not be the best fit for frequent travelers looking to maximize air miles rewards earned on their travel expenses because it lags behind Maybank Horizon in travel rewards. If you travel a lot for business or leisure, the Maybank Horizon Visa Signature Card may be better for you; but if you find yourself spending more on dining, entertainment and online shopping in Singapore, you might get more value out of the HSBC Revolution Card.
Maybank Horizon Visa Signature Card vs Citi PremierMiles Visa Card
In contrast to the Maybank Horizon Visa Signature Card, the Citi PremierMiles Visa Card offers higher versatility at the cost of being slightly less affordable and offering fewer air mile rewards in the categories of dining, travel and petrol. The most significant way it differs from the Maybank Horizon Visa Signature is that the Citi PremierMiles Visa Card awards 1.2 miles for every S$1 you spend locally on anything at all. Not only that, while the Maybank Horizon Visa Signature Card's points expire only one year after they are earned if not used, miles earned with the Citi PremierMiles Visa Card never expire. Whereas the Maybank Horizon Visa Signature Card gives the highest rewards to those who travel often, it may be easier to maximise value with the Citi PremierMiles Visa Card, as you can earn the same number of miles for every single dollar you spend and never have to worry about miles expiring over time.
Though the Citi PremierMiles Visa Card does not permit you to waive the annual fee of S$192.6, it makes up for this by gifting you with 10,000 miles when you pay the annual fee and renew the card. Thus, we consider this card, which we have estimated to have a 2-year value of S$1,950 compared to the Maybank Horizon Visa Signature's mere S$735, to be well worth the cost. If you are a consumer who spreads her budget across a wide variety of spending categories, this could be the better card for you.
Maybank Horizon Visa Signature Card vs DBS Altitude Visa Card
The DBS Altitude Visa Card is another versatile air mile rewards credit card with an easy fee waiver. DBS Altitude distinguishes itself from the Maybank Horizon Visa Signature Card in that users earn air rewards miles whenever they spend money. It provides versatility and flexibility that the Maybank Horizon Visa Signature Card lacks, as you earn 1.2 miles for every S$1 spent locally and never have to worry about your miles expiring. Also, because it awards 3 miles for every S$1 spent on online travel booking, frequent travelers will benefit most from this card. In our opinion, for the consumer who wants a simple way to earn miles for all her purchases without the burden of a high annual fee, this card occupies a sweet spot between the Maybank Horizon Visa Signature Card and the Citi PremierMiles Visa Card.
In order to get best advantage out of this card, you need to spend at least S$25,000 per year to waive the annual fee with the DBS Altitude Visa Card. As long as you can spend enough to make that minimum, this is an affordable and flexible card that is easily adaptable to most people's circumstances.
*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.