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● When it comes to credit cards, finding the perfect fit for your lifestyle and spending habits can be quite a challenge. For many families and individuals in Singapore, the Maybank Family & Friends Card has become a popular choice due to its attractive cashback benefits and family-centric rewards. In this comprehensive review for 2024, we’ll delve into the features, pros, and cons of the Maybank Family & Friends Card to help you decide if it’s the right card for you. With the , you can earn To get the , cardholders must spend a minimum of . Any monthly spending from $0 – $799 will only receive 0.3% in cashback. Also, after reaching the monthly cashback cap for a selected category, the 0.3% cashback will be applied to further spending that month, and the 0.3% cashback will be applied to all other spending on non-selected categories. There is also a total cashback cap of $125 ($25 for each category). Those who love going to Johor Bahru for a weekend getaway can now earn an additional 8% cashback on top of your five preferred categories! After reaching your monthly cashback cap, the 8% cashback will be applied to the Malaysian Ringgit for the selected category spending that month and all other Malaysian Ringgit spend on non-selected categories in the month: (Up to $125 in total per calendar month, capped at $25 per category) More specifically, according to the card’s terms and conditions, the Malaysian Ringgit bonus category and cap applies to: However, note that Malaysian Ringgit transactions will incur a 3.25% foreign transaction fee. But, the 8% cashback if you hit the minimum spend of $800 more than covers it. One of the most appealing aspects of the Maybank Family & Friends Card is the ability to choose your cashback categories. Here’s how you can customise your cashback rewards to fit your spending habits: The card offers complimentary travel insurance coverage of up to $1,000,000 when travel expenses are charged to the card. This includes coverage for accidental death, medical expenses, and travel inconvenience. The Maybank Family & Friends Card supports contactless payments via Visa payWave, making quick and secure transactions convenient. Through the Maybank TREATS program, cardholders can enjoy additional discounts and privileges at participating merchants, including dining deals, retail discounts, and travel offers. Next we will examine the pros and cons of this card. One of the standout features of the Maybank Family & Friends Card is its generous cashback rates. You can earn up to 8% cashback on categories such as groceries, dining, transport, and petrol. This makes it an excellent choice for families looking to save on everyday expenses. The card offers flexibility in cashback categories, allowing you to choose up to 5 preferred categories to earn the maximum cashback. This customization means you can tailor your spending to maximize rewards based on your unique lifestyle. The annual fee of $180 is waived for the first three years, providing significant savings for new cardholders. After the initial three years, you can still get the annual fee waived with a minimum annual spend of $12,000. Cardholders enjoy complimentary travel insurance coverage of up to $1,000,000. This is a great perk for frequent travelers, providing peace of mind and added value without extra cost. Unlike many other credit cards, the Maybank Family & Friends Card does not charge foreign transaction fees. This makes it an excellent card for those who frequently shop online from overseas retailers or travel abroad. To enjoy the maximum cashback benefits, you need to meet a minimum spend of $800 per month. This might be challenging for some users, especially those with lower monthly expenses. The cashback earned is capped at $125 per calendar month. While this cap is relatively high compared to some other cards, the really heavy spenders might find this limiting. Although the card offers flexibility in choosing cashback categories, the selection is somewhat limited. If your spending habits fall outside the predefined categories, you might not fully benefit from the high cashback rates. After the initial three-year waiver period, the annual fee of $180 is quite steep. While it can be waived with a minimum annual spend of $12,000, this might not be feasible for everyone. The Maybank Family & Friends Card is a strong cashback credit card market contender, particularly for families and individuals with diverse spending habits. Its high cashback rates, flexible category selection, and additional perks like travel insurance and no foreign transaction fees make it a compelling choice for many Singaporeans. However, the minimum spend requirement and the annual fee after the waiver period are important considerations. Evaluating your spending patterns and determining if you can consistently meet the minimum spend to maximize the card’s benefits is essential. Compared to similar cards, the Maybank Family & Friends Card stands out for its high cashback rates and family-centric rewards, though it may not be the best fit for everyone. By carefully weighing the pros and cons outlined in this review, you can make an informed decision about whether this card aligns with your financial goals and lifestyle. Overall, the Maybank Family & Friends Card is an excellent option for those looking to earn significant cashback on everyday expenses, provided they can meet the card’s requirements.