Shopee and Maybank just launched a new credit card. Aptly dubbed Maybank Shopee Visa Platinum credit card, it offers a number of benefits for those who do a lot of shopping on Shopee. On top of that, those who apply for the card can also get a RM500 discount voucher for use on Shopee; that’s a sweet sign-up gift.

Before we get to the sign-up gift, let’s talk about the Maybank Shopee credit card itself first. Basically, any spending made with the card will reward cardholders with Shopee Coins. Normal purchases are rewarded with 1x Coins, while purchases made on Shopee, dining, and entertainment – along with contactless payments – will get you 2x Coins.

These are decent rewards, but the amount of Shopee Coins you can get will be a lot more if you make your purchases every 28th of the month or on “Special Days” like Shopee’s upcoming 9.9, 11.11, and 12.12 sales. On these dates, contactless, dining, and entertainment purchases are upsized to 4x Coins. Purchases on Shopee, on the other hand, are rewarded with 5x Coins.

However, do note that the maximum amount of Shopee Coins you can get per statement cycle is capped at 5,000 Coins, which is worth RM50. Any other spending beyond this cap will be converted to Maybank’s TreatsPoints, so you’re still getting something out of your purchases.

Okay, so what about the RM500 Shopee discount voucher for early birds? Well, as expected, there are a couple of terms and conditions to be eligible for the sign-up gift. For one, it is only valid for new-to-bank customers who have signed up for the card on Maybank’s website and have their applications approved between 1 to 7 July.

Besides that, only the first 200 approved applicants will receive the RM500 voucher, provided they spend a minimum of RM300 in retail transactions within 45 days of the card’s approval date. If you’re not part of the first 200 approved applicants, you will get a pair of SoundPeats wireless earbuds instead.

Interestingly, applicants – new-to-bank, of course – who place their applications between 8 July to 31 August will get a RM200 Shopee discount voucher instead if they are the first 500 successful applicants. Naturally, the minimum RM300 retail spend within 45 days of the card’s approval date apply here as well to be eligible for the discount voucher.

It’s worth noting that regardless of the sign-up gifts above, every successful applicant of this credit card will get 5,000 Shopee Coins as a welcome gift. To be eligible for it, RM300 in spending have to be done within the first two months of the card’s approval date.

The Maybank Shopee Visa Platinum credit card will be open for applications starting tomorrow (1 July) on Maybank’s website. Do note that to be eligible for the card, you need an annual income of at least RM36,000, and it is free for life with no annual fee.