Maybank Fuel Credit Cards in Singapore
Maybank has 10 credit cards in its portfolio, of which five can be used with great benefits on petrol. These are:
- Maybank DUO Platinum MasterCard Credit Card
- Maybank Visa Infinite Credit Card
- Maybank Horizon Visa Signature Credit Card
- Maybank World MasterCard Credit Card
- Maybank Family & Friends Credit Card
Maybank Fuel/Petrol Promotions
The key promotion being offered by Maybank on petrol purchases is as mentioned below:
- Up to 31 December 2017, get a maximum of 19.1% discount on your petrol purchases through Maybank World MasterCard or Maybank Visa Infinite credit cards. You need to apply for a Corporate Fuel Card along with these credit cards to enjoy this privilege. The rebate includes 15% upfront savings through the fuel card and 10 TREAT Points per S$1 spent.
Features and Benefits of Maybank Fuel Credit Cards
Here are some reasons why you should get a Maybank petrol credit card:
DUO Rewards: The Maybank DUO Platinum MasterCard, which is a dedicated petrol credit card, comes with a host of separate perks under the DUO Rewards programme. You can earn higher DUO Rewards by spending at one of the outlets/businesses of the Tan Chong International Group, which includes Tan Chong Motor Sales (Nissan), Motor Image Enterprises (Subaru), Wilby Residences, Tan Chong Industrial Machinery, TC Autoclinic and Downtown Car Rentals.
TREATS Points: Maybank fuel cards give you TREATS Points for your petrol and diesel-related spends. With the Maybank World MasterCard, you get 10 points per S$1 spent at petrol stations island-wide, the Maybank Horizon Visa Signature Card gives you 8 points, and the Maybank Visa Infinite Card offers 5 points. These points can be redeemed for air miles or discount vouchers as per your preference.
Cash rebates: The Maybank DUO Platinum MasterCard gives a 5% cash rebate on all petrol purchases in Singapore and Malaysia, irrespective of which fuel stations you are buying from. The Maybank Visa Infinite Card and Maybank World MasterCard can be used in conjunction with the Corporate Fuel Card to save up to 19.1% on petrol and diesel purchases in Singapore. The Maybank Family & Friends Credit Card gives 8% cash rebate at all major fuel stations in Singapore and Malaysia.
Interest Rates for Maybank Fuel Credit Cards
The interest rate for Maybank petrol credit cards is 24% p.a. Interest charges will be added to the credit card bill if you do not make complete payment before the bill’s due date. For example, if your credit card bill for the month of September 2017 is S$790, and you pay the full amount before the due date of 10 October 2017, then you will not be charged any interest rate by the bank. However, if you pay, let’s say S$380 out of S$790, then interest will be applicable on the remaining S$410. Cash advances from the credit cards are also subject to an interest rate of 24% p.a.
Fees and Charges for Maybank Fuel Credit Cards
The charges applicable on credit cards offered by Maybank(fuel/petrol) are given in the table below:
• Maybank DUO Platinum MasterCard: S$120
• Maybank Visa Infinite Card: S$600
• Maybank Horizon Visa Signature Card: S$180
• Maybank World MasterCard: S$240
• Maybank Family & Friends Card: S$80
Late payment fee
||S$50 or 5% of the minimum due, whichever is greater
|Minimum monthly payment
||S$20 or 3% of the outstanding balance, whichever is greater
|Cash advance fee
||S$15 or 5% of the withdrawn amount, whichever is greater
Eligibility criteria for Maybank Fuel Credit Cards
If you want to apply for Maybank fuel credit cards, you need to meet the criteria given below:
Minimum age requirement: You need to be at least 21 years old to get any of the Maybank fuel cards. For supplementary cards, the age requirement is a minimum of 18 years.
Annual income requirements: This ranges from S$30,000 for the DUO Platinum MasterCard and Family & Friends cards to S$150,000 for the Visa Infinite Card. For Malaysian citizens the minimum required annual income starts from S$45,000, and for foreigners the requirement is S$60,000 upwards.
Other conditions: The Visa Infinite Card is an invitation-only credit card, which means that you can get that card only if you are invited by the bank to own it. With DUO Platinum MasterCard, you get a DUO membership along with the approved credit card.
Documents required for Maybank Fuel Credit Cards
To ensure that your credit card application is processed without any hitches, you need to submit the following documents:
Identity proof: A copy of NRIC for Singaporeans and Permanent Residents, Malaysian ID card for Malaysian citizens, and passport and work permit for foreigners living in Singapore.
Address proof: Copy of utility bills showing your current address, needed only for foreigners.
Income proof: Computerised salary slips, bank statements, most recent CPF contribution history statement, and most recent Income Tax Notice of Assessment to verify your income and employment.
How to apply for Maybank Fuel Credit Cards
You can apply for fuel credit cards with Maybank in the following ways:
Online: Go to the Maybank website and fill in the application form. You can even upload scanned copies of the relevant documents and complete the application process online itself.
Direct visit: Go to any Maybank branch near you, fill up the application form and submit the documents required.
For Maybank Visa Infinite Card: You can register your interest in getting this card on the Maybank website and have the bank contact you.
How to Cancel Maybank Fuel Credit Cards
You need to follow the procedure given below to terminate your Maybank credit card:
- Send a written notice to the bank to cancel your credit card.
- Also send the bank your primary and supplementary cards in a cut-up condition to prevent misuse.
- If you cancel a primary card, the supplementary cards associated with it are automatically cancelled as well.
- You need to pay off all the pending amount on the card account, and claim the rewards or cash rebates before terminating the card.