Maybank Horizon Review (2026): Three Free Years, One Monthly Gate

Maybank HorizonTruffle's Take

🤔Situational

2.8 mpd overseas and three years without a fee, if you clear S$800 every month

Maybank rarely comes up when people talk about miles cards in Singapore, and on one number it should. Horizon pays 2.8 miles per dollar on foreign currency with no cap, which puts it level with BOC Elite Miles and ahead of UOB PRVI Miles, HSBC TravelOne and Citi PremierMiles.

It also waives the annual fee for three full years, where almost everything else here gives you one. For a card you are trying out rather than committing to, that is a genuinely different proposition.

Then there is the floor, and it is brutal. Spend outside the bonus categories and this card pays 0.16 miles per dollar, which is the lowest number anywhere on this site. Not 0.4, which is bad. 0.16. This card is a specialist and it is not pretending otherwise.

Annual Fee

S$196.20, waived for the first three years, then waivable on S$18,000 of annual spend.

Three years free is the most generous opening in this lineup and it changes how you should think about applying. There is very little downside to holding it alongside a main card and seeing whether your foreign spending actually justifies it, because for three years the experiment is free.

From year four, S$18,000 of annual spend clears it, which is S$1,500 a month. That is achievable if this is a card you actually use and out of reach if it lives in a drawer for the occasional holiday.

Welcome Bonus

Maybank Horizon Visa Signature

Apply with Maybank

Welcome bonus

• 🧳S$530 Samsonite FLUIO Spinner 68/25 EXP

Spend S$1,300 within the first two months of card approval.

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Sign-up rewards change often, so confirm the current offer before you apply. New customers only, meaning no card from Maybank in about the last 12 months.

How many miles do I earn?

2.8 miles per dollar on foreign currency and air tickets, 1.2 on selected categories, and 0.16 on everything else.

Two things in that table are easy to misread. The 2.8 mpd on travel applies to air tickets specifically, not to hotels or packages, which earn the 1.2 selected-category rate. And the selected categories cap at S$3,000 a month is generous, but 1.2 mpd is an ordinary rate to be capped at.

The 0.16 floor deserves saying twice. On S$1,000 of unclassified spending this card earns 160 miles. A free HSBC Revolution would earn 4,000 on the same spend if it fell in its categories, and 400 if it did not.

A correction to an earlier version of this review, because it was wrong in a way that mattered. Local spend on this card earns 3X TREATS Points, which is 1.2 mpd, not the 0.16 figure previously printed here. That is a competitive everyday rate rather than a reason to keep the card out of your wallet at home.

The real condition is monthly. Clear S$800 of retail spend in a calendar month and foreign spend and air tickets pay 7X, which is 2.8 mpd. Miss it and they drop to the same 3X as everything else. It is a gate rather than a floor, and it resets every month.

Two details from Maybank's own terms that decide whether you clear it. Spend on Selected Categories does not count toward the S$800, so someone whose spending sits mostly there can miss the gate while believing they cleared it, and those categories earn 1X, capped at S$3,000 a month. And the air ticket bonus caps at 40,000 bonus points, about S$10,000 a month, while foreign spend stays uncapped, which is the reverse of what a card sold on travel would lead you to expect.

How To Kill The Expiry

TREATS Points expire in about 12 to 15 months, which on a card with a 25,000-point transfer block is a real problem: 25,000 TREATS is 10,000 miles, and at 1.2 mpd on capped categories that takes a while to reach.

There is a way out, and it is the most useful thing to know about the Maybank range. Enrolling in Rewards Infinite removes the expiry entirely. You get there by spending S$24,000 a year, or automatically by also holding the Maybank World Mastercard.

So the second Maybank card is not really a second card, it is an expiry switch for the whole stack. Holding the World Mastercard removes the clock on TREATS earned from every Maybank card you have, which is a wallet-design decision rather than a card-level one.

Whether that is worth a second annual fee depends on how much you are earning here. (If your TREATS balance is small enough that expiry is not a live risk, it is not worth it. If you are earning steadily on 2.8 mpd foreign spend, it probably is.)

Transfer Partners

TREATS Points convert at 25,000 per 10,000 miles to KrisFlyer, in blocks, at S$27.25 a conversion since April 2025. Crediting is quick, about one to two working days, which is a pleasant contrast to BOC's three weeks.

Correct as of 8 July 2026. Asia Miles and Enrich convert at a different block size on the World Mastercard.

Programme	TREATS Points for 10,000 miles
Singapore Airlines KrisFlyer	25,000
Cathay Asia Miles	25,000
AirAsia Rewards	25,000

Four partners including Malaysia Airlines Enrich, which nothing else in this lineup reaches. Niche, and genuinely useful if you fly into Malaysia or on Enrich partners with any regularity.

How to use it. Take the three free years, put every foreign-currency transaction on it, and keep absolutely nothing else on it. The 0.16 floor means a stray local transaction here is a real loss every single time, more so than on any other card.

Before any redemption, always check the route you want is actually available. The worst thing you can do is diversify into another mileage programme with no redemption in mind.

What should I pair it with?

The S$3,000 monthly cap on selected categories does bind, but at 1.2 mpd that bonus is not why you hold the card. Treat the foreign currency rate as the product and everything else as incidental.

Nearly everything, because 0.16 mpd on ordinary spending is not survivable.

This is the most extreme specialist here. It needs a full wallet around it, and possibly a second Maybank card just to stop the points expiring.

Build your miles card stack

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The verdict, restated

A foreign currency card with an unusually long free trial and an unusually bad floor. 2.8 mpd uncapped abroad is top-tier and three years without a fee means you can test that against your own spending at no cost. But 0.16 mpd on everything else is the lowest rate on this site, so put nothing else on it, and if you earn seriously here, work out whether the World Mastercard is worth holding just to switch the expiry off.

Sources

Maybank Horizon Visa Signature product page and T&Cs, checked 8 July 2026. Earn rates, the three-year fee waiver, the S$3,000 selected-categories cap, the TREATS conversion ratio and the S$27.25 conversion fee correct as of that date. Several points are less certain and are flagged rather than buried: the Malaysian citizen and foreigner income tiers are from secondary sources and could not be confirmed against an official Maybank document; a promotional rate of up to 3.2 mpd on selected foreign currency spend was reported from around April 2026 but its current validity is unverified, so it is not used here; petrol and general retail in the selected categories have no dedicated match in the Wallet Builder and are mapped broadly, and Maybank publishes no payment-channel rule for this card; and the 2.8 mpd air-ticket rate is not modelled in the Wallet Builder because flights and hotels are merged there, so the card is understated for anyone who mostly buys flights. This guide shares my own experience for education, it is not financial advice, and card terms change: always verify with the bank before applying.