Maybank XL Rewards Card boosts 4 mpd cap to S$1,500 a month for new cardholders

Maybank has launched a new sign-up offer for its XL Rewards Card, with new cardholders approved between 1st July and 30th September 2026 getting a 50% higher monthly bonus points cap, equivalent to S$1,500 of 4 mpd spend per month, up from the usual S$1,000.

That translates to as many as 6,000 miles per month, up from the standard 4,000, and since the boosted cap applies for your approval month plus the three following calendar months, you could bank up to 24,000 miles from S$6,000 of spend by the end of the year.

Here’s how the offer works, and how to squeeze the most out of it.

The Maybank XL Rewards Card

As a recap, the Maybank XL Rewards Card earns 10X TREATS Points (4 mpd) across five broad categories – dining, shopping, travel, entertainment (‘play’) and all FCY spend – normally capped at S$1,000 of bonus spend per month, provided you meet a S$500 monthly minimum spend.

The card’s infamous catch remains, of course. You must be aged 21 – 39 to apply, though once approved you can keep the card beyond your 40th birthday. No 50% hike here sadly!

The new cardholder offer

Under this promotion, the usual 10,000 TREATS Points monthly cap on 10X earning is lifted to 15,000 TREATS Points for new XL Rewards cardholders, corresponding to S$1,500 of bonus category spend, or 6,000 KrisFlyer miles per calendar month once transferred at the usual 2.5:1 ratio.

• Regular cap: 10,000 TREATS Points (S$1,000 spend / 4,000 miles) per month
• Promo cap: 15,000 TREATS Points (S$1,500 spend / 6,000 miles) per month

To qualify, your card application must be submitted and approved between 1st July and 30th September 2026, and you must be new to the XL Rewards Card, without having cancelled one in the nine months prior to approval – so no churning your way back in.

The higher cap then applies to eligible transactions made during your approval month and the three following calendar months, as shown below.

Maybank XL Rewards Bonus Earn Offer
Card approved	Higher cap applies	Max bonus points
1 – 31 Jul 2026	1 Jul – 31 Oct 2026	60,000 24,000 miles
1 – 31 Aug 2026	1 Aug – 30 Nov 2026	60,000 24,000 miles
1 – 30 Sep 2026	1 Sep – 31 Dec 2026	60,000 24,000 miles

The full terms and conditions for the promotion are available here.

Existing Maybank cardholders are eligible

Importantly, you don’t need to be new to Maybank itself to qualify. Eligibility hinges only on being new to the XL Rewards Card, so existing Maybank cardholders can apply and benefit from the boosted cap.

In fact, that arguably makes the offer even more attractive for those already holding another Maybank card, thanks to TREATS Points pooling, and if your existing card happens to include a Visa Infinite or World Mastercard, your XL-earned points will never expire under Rewards Infinite status, with World Mastercard holders also enjoying fee-free miles transfers.

Better than advertised (slightly)

Maybank pitches this as boosted earning for “3 calendar months following your card approval”, but the T&Cs are actually a little more generous.

The eligible transaction window opens on the 1st day of your approval month, meaning the higher cap also applies to spend made between approval and the end of that month.

Get approved early in a calendar month, and you’ll effectively enjoy close to four full months at the S$1,500 cap. Get approved on the 30th, and you’ll realistically be looking at three months plus a frantic day or two, though even a single large transaction before month-end could capture that month’s 6,000 miles.

This makes the timing of your approval (not simply applying as soon as possible) the key to maximising the offer.

With Maybank quoting up to seven business days for processing, an application submitted in mid-July would likely see approval land in the final week of the month, leaving only days to use July’s cap. That’s fine if you can front-load S$1,500 of spend before the 31st, but a largely wasted month for steadier spenders.

For most, the sweet spot is instead to apply in the first few days of August (or September), targeting an early-month approval and a full four-month August – November / September – December run at the higher cap.

Even a late-July approval isn’t a disaster, mind you. You’d still have three full months (August – October) at the boosted cap, but you’d potentially be leaving up to 6,000 miles on the table versus a better-timed application.

The usual rules still apply

The all-important S$500 minimum monthly spend requirement is unchanged during the promotion.

Fall short, even by spending S$499, and you’ll earn just 0.4 mpd (base rate) for everything that month – a brutal clawback that definitely means this isn’t a card to ‘almost use’!

Maybank’s S$5 earning blocks also still apply, with each transaction rounded down to the nearest S$5 before points are awarded, and sub-S$5 transactions earning nothing at all.

The usual exclusion categories apply too, including utilities payments, which were axed from earning in December 2025.

How much is this worth?

Compared to the standard cap, the offer is worth an extra 5,000 TREATS Points (2,000 miles) per month for S$500 of additional bonus category spend – with a maximum benefit of 8,000 extra miles across the four calendar months, if your approval is early enough.

At a typical valuation of 1.8 cents or more per KrisFlyer mile, that’s around S$145 of additional value on top of the card’s regular earning, a much better proposition than Maybank’s standing S$10 cashback sign-up gift (which, for new-to-bank customers, still applies on top).

Maxing out the full promotion at S$1,500 per month nets you 60,000 TREATS Points, enough for two 25,000-point transfer blocks into KrisFlyer (20,000 miles), with 10,000 points left over towards your next block.

Just remember the S$27.25 transfer fee per conversion, and the relatively short 12 – 15 month TREATS Points expiry, which means hoarding points in the programme isn’t advisable.

Other sign-up perks

Alongside the boosted earning cap, new applicants can still benefit from:

• S$10 cashback after your first transaction (new-to-Maybank customers only)
• Complimentary 12-month Etiqa Trip XpLorer Protect insurance (first 15,000 XL Cards applicants)

For completeness, the sister Maybank XL Cashback Card gets a parallel offer over the same period, with its monthly bonus cashback cap raised from S$80 to S$100, though as usual our readers will be far better served by the miles-earning variant.

This is a nice sweetener for what was already one of Singapore’s more compelling 4 mpd cards, with its broad bonus categories and catch-all FCY earning, and it addresses the card’s most obvious weakness (the modest S$1,000 monthly cap), albeit temporarily.

If you’re under 40 and the XL Rewards Card has been on your radar, this is a great time to apply.

Time your approval for early in a calendar month, and you can walk away with up to 24,000 miles by year-end from S$6,000 of everyday spending.

Just don’t forget that once the promotional window closes, the cap reverts to S$1,000 per month, and if you can’t reliably clear the S$500 minimum spend, this still isn’t really the card for you.

(Cover Photo: Shutterstock)