If you are a student in Singapore, you know how important it is to manage your finances properly. One way to do that is by having a credit card that suits your needs. The DBS Live Fresh Student Card is one such option that you might want to consider. In this article, we will review the DBS Live Fresh Student Card in Singapore and help you decide if it is the right choice for you.
The DBS Live Fresh Student Card is designed for students who want to earn rewards while spending on their daily expenses. With no minimum income requirement and a range of benefits and perks, this card is a popular choice among students. In this article, we will take a closer look at the rewards and cashback offered by the card, the fees and charges associated with it, as well as the practical usage and benefits of the card. We will also compare it with other student cards in the market and provide you with information on how to apply for the card and manage it.
Key Takeaways
- The DBS Live Fresh Student Card is designed for students who want to earn rewards while spending on their daily expenses.
- The card offers attractive rewards and cashback on dining, entertainment, and online shopping.
- With no minimum income requirement and a range of benefits and perks, this card is a popular choice among students.
Overview of the DBS Live Fresh Student Card
If you’re a student in Singapore, the DBS Live Fresh Student Card could be an ideal financial tool for you. This credit card is specially designed for students who want to enjoy the perks of a credit card without having to worry about high fees and interest rates.
Key Features
The DBS Live Fresh Student Card is a Visa credit card that comes with a range of features that make it perfect for students. Some of the key features of this card include:
- 5% cashback on popular merchants such as McDonald’s, Starbucks, Netflix and more
- No minimum spend required to earn cashback
- Annual fee waiver for the first year
- S$500 credit limit
- 0.3% cashback on all other spend
- Eco-friendly, made from 85.5% recycled plastic
With the DBS Live Fresh Student Card, you can enjoy cashback on your favourite merchants and save money on your everyday expenses. The annual fee waiver for the first year also means that you don’t have to worry about paying any fees to use the card.
Eligibility Criteria
To be eligible for the DBS Live Fresh Student Card, you must meet the following criteria:
- You must be a student in Singapore
- You must be at least 18 years old
- You must have a minimum annual income of S$18,000 if you’re a Singaporean citizen or permanent resident, or S$30,000 if you’re a foreigner
Overall, the DBS Live Fresh Student Card is an excellent choice for students who want to enjoy the benefits of a credit card without having to worry about high fees and interest rates. With its range of features and cashback rewards, this card is definitely worth considering if you’re a student in Singapore.
Rewards and Cashback
If you’re looking for a credit card that offers great cashback rewards, then the DBS Live Fresh Student Card is definitely worth considering. With this card, you can earn cashback on all your purchases, as well as enjoy some great perks that come with being a member of the Live Fresh Club.
General Cashback Rewards
The DBS Live Fresh Student Card offers 0.3% cashback on all your spending, with no minimum spend required. This means that you can earn cashback on everything from your daily commute to your weekly grocery shop. Plus, with the Live Fresh Club, you can enjoy exclusive discounts and promotions on a range of lifestyle products and services.
Specialised Cashback Categories
In addition to the general cashback rewards, the DBS Live Fresh Student Card also offers specialised cashback categories. These categories include 5% cashback on McDelivery, Netflix, Spotify and more. This means that you can enjoy great savings on all your favourite online services, making it easier to maximise your cashback rewards.
Green Cashback Initiative
If you’re passionate about the environment, then you’ll love the DBS Live Fresh Student Card’s Green Cashback Initiative. This initiative offers an additional 5% cashback on selected eco-eateries, eco-retailers and eco-transport services. This means that you can earn cashback while supporting businesses that are committed to sustainability.
Overall, the DBS Live Fresh Student Card is an excellent choice for anyone looking for a credit card with great cashback rewards and exclusive perks. With the ability to earn cashback on all your purchases, as well as enjoy specialised categories and green cashback initiatives, this card is a great way to save money and support sustainable businesses.
Fees and Charges
If you’re considering the DBS Live Fresh Student Card, it’s important to understand its fees and charges. Here’s what you need to know:
Annual Fee Waiver
One of the most exciting things about the DBS Live Fresh Student Card is that it comes with an annual fee waiver. This means that you won’t have to pay any annual fees for the first year and subsequent years, as long as you meet the eligibility criteria. This is a great way to save money, especially if you’re a student on a tight budget.
Interest Rates
The interest rate for the DBS Live Fresh Student Card is 26.8% per annum. This is a relatively high rate, so it’s important to pay your balance in full each month to avoid interest charges. If you do carry a balance, the interest charges can add up quickly and make it harder to pay off your debt.
Other Potential Costs
In addition to the annual fee and interest charges, there are a few other potential costs to be aware of. These include:
- Minimum spend requirements: There is no minimum spend requirement for the DBS Live Fresh Student Card, which is great news if you’re on a tight budget.
- Cash advance fees: If you use your DBS Live Fresh Student Card to withdraw cash from an ATM, you’ll be charged a cash advance fee of 6% of the amount withdrawn or S$15, whichever is greater.
- Late payment fees: If you miss a payment or make a payment that is less than the minimum amount due, you’ll be charged a late payment fee of S$100.
Overall, the DBS Live Fresh Student Card is a great choice for students who want to save money on fees and earn cashback on their purchases. Just be sure to pay your balance in full each month to avoid interest charges and late payment fees.
Benefits and Perks
As a student, you can enjoy a host of benefits and perks with the DBS Live Fresh Student Card. Here are some of the exciting advantages that you can look forward to:
Dining and Entertainment
You can enjoy up to 5% cashback on dining and entertainment expenses with the DBS Live Fresh Student Card. This means that you can save money when you grab a cup of coffee at Starbucks or catch a movie at Golden Village. With this card, you can indulge in your favourite treats without worrying about the cost.
Online Shopping Advantages
Shopping online has never been more rewarding. With the DBS Live Fresh Student Card, you can enjoy up to 5% cashback on online shopping and Visa contactless spend. This means that you can save money when you shop for your favourite products online. Whether you are shopping for clothes, gadgets or groceries, this card has got you covered.
Transport and Travel Concessions
The DBS Live Fresh Student Card also offers a range of transport and travel concessions. For instance, you can enjoy up to 5% cashback on SG Bike rentals. Additionally, you can enjoy SimplyGo benefits, which allow you to pay for your public transport rides with your card. This means that you don’t have to worry about carrying cash or topping up your EZ-Link card.
Overall, the DBS Live Fresh Student Card is an excellent choice for students who want to enjoy a range of benefits and perks. With its dining and entertainment cashback, online shopping advantages, and transport and travel concessions, this card is sure to make your life easier and more exciting.
Practical Usage
Using the Card for Everyday Purchases
With the DBS Live Fresh Student Card, you can enjoy cashback rewards on your everyday purchases. The card offers 5% cashback on selected merchants, including popular coffee shops and transport services. This means that every time you grab a coffee or take a ride on the bus or train, you can earn cashback rewards.
To maximise your cashback rewards, be sure to use your card at participating retailers. You can find the full list of participating retailers on the DBS website. Additionally, you can earn 5% cashback on sustainable spend, which includes purchases made at eco-friendly retailers.
Understanding the Credit Limit
The DBS Live Fresh Student Card comes with a credit limit of S$500. This credit limit is designed to help you manage your spending and avoid overspending. It is important to note that exceeding your credit limit can result in fees and penalties.
To make the most of your credit limit, it is important to track your spending and stay within your budget. You can do this by setting a monthly spending limit and keeping track of your purchases. Additionally, you can use the DBS mobile app to monitor your spending and manage your account.
Overall, the DBS Live Fresh Student Card is a great option for students who want to earn cashback rewards on their everyday purchases. With its attractive rewards programme and easy-to-use features, this card is a must-have for students at Singapore Management University and Singapore University of Technology and Design.
Comparisons with Other Student Cards
When it comes to choosing a student credit card, you have several options available in Singapore. One of the most popular alternatives to the DBS Live Fresh Student Card is the Maybank eVibes card. Let’s take a closer look at how these two cards compare.
DBS Live Fresh vs Maybank eVibes
Both the DBS Live Fresh and Maybank eVibes cards are designed for students and offer similar benefits such as no minimum income requirement and annual fee waivers. However, there are some key differences between the two cards.
One of the main advantages of the DBS Live Fresh card is that it offers 5% cashback on select merchants such as McDelivery and Netflix, while the Maybank eVibes card only offers 1% cashback on all transactions. On the other hand, the Maybank eVibes card has a higher credit limit of S$1,000 compared to the DBS Live Fresh card’s S$500 limit.
Comparative Advantages
When it comes to choosing between the DBS Live Fresh and Maybank eVibes cards, it ultimately comes down to your spending habits and priorities. If you frequently use McDelivery or Netflix, the DBS Live Fresh card may be the better option for you. However, if you need a higher credit limit, the Maybank eVibes card might be the way to go.
It’s important to note that there are several comparison tools available online that can help you make an objective analysis of the different student credit cards available in Singapore. By using these tools, you can compare the benefits and features of each card side-by-side and make an informed decision based on your individual needs and preferences.
How to Apply
If you are excited to get your hands on a DBS Live Fresh Student Card, here’s how you can apply for it.
Application Process
The application process for the DBS Live Fresh Student Card is simple and straightforward. You can apply for the card through the DBS website or by visiting any of the DBS branches in Singapore.
To apply online, you need to fill in the online application form and provide all the necessary details. Once you have submitted the form, DBS will review your application and inform you of the outcome. If your application is approved, DBS will send the card to your registered address.
Required Documents
To apply for the DBS Live Fresh Student Card, you need to provide the following documents:
- A copy of your NRIC (for Singapore Citizens and Permanent Residents) or passport (for foreigners)
- Proof of enrollment in a recognized educational institution in Singapore
- Proof of income (if applicable)
Make sure you have all the necessary documents before you apply for the card. This will ensure that your application is processed smoothly and without any delays.
Overall, the application process for the DBS Live Fresh Student Card is hassle-free and easy. As long as you meet the eligibility criteria and provide all the necessary documents, you should be able to get your hands on this exciting card in no time.
Card Management
Managing your DBS Live Fresh Student Card is easy and convenient. You can track and redeem your rewards, and understand your billing cycle to stay on top of your payments.
Tracking and Redeeming Rewards
With the DBS Live Fresh Student Card, you can earn cashback rewards on your purchases. To track your rewards, simply log in to your DBS account online or through the mobile app. You can view your credited cashback rewards and redeem them for vouchers or cash rebates.
To redeem your rewards, you can choose from a wide range of options, including dining, entertainment, and shopping vouchers. You can also use your cash rebates to offset your credit card bill or donate to charity.
Understanding the Billing Cycle
It’s important to understand your billing cycle to avoid late payments and interest charges on your outstanding balance. Your billing cycle starts on the statement date and ends on the next statement date.
You will receive your statement of account via email or post, which will show your outstanding balance, minimum payment due, and payment due date. You can make your payment through various payment service providers, including online banking, mobile banking, and ATM.
To avoid interest charges and late payment fees, make sure to pay your outstanding balance in full by the payment due date. If you need more time to pay off your balance, you can consider a balance transfer or cash advance. However, keep in mind that these options come with additional fees and charges.
Overall, managing your DBS Live Fresh Student Card is a breeze, with easy tracking and redeeming of rewards and a clear understanding of your billing cycle.
Frequently Asked Questions
How exhilarating is the cashback scheme with the DBS Live Fresh Student Card?
The cashback scheme with the DBS Live Fresh Student Card is quite exhilarating. You can get up to 5% cashback on eligible transactions such as online shopping, contactless payments, and Visa payWave. The cashback rewards are credited to your account automatically every month.
Can you believe there’s no annual fee for the DBS Live Fresh Student Card?
Yes, it’s true, there is no annual fee for the DBS Live Fresh Student Card. This makes it a great option for students who are looking for a credit card with no fees.
What’s the minimum spend required to get the perks on the DBS Live Fresh Student Card?
There is no minimum spend required to get the perks on the DBS Live Fresh Student Card. This means that you can enjoy the benefits of the card without having to worry about meeting a minimum spending requirement.
Isn’t it fantastic that student cards offer tailored benefits?
Yes, it is fantastic that student cards offer tailored benefits. The DBS Live Fresh Student Card offers benefits that are specifically designed for students, such as cashback on popular merchants like McDelivery and Netflix.
Are there any charges for overseas transactions on the DBS Live Fresh Student Card?
Yes, there are charges for overseas transactions on the DBS Live Fresh Student Card. You will be charged a fee of 3.25% of the transaction amount for foreign currency transactions.
What are the thrilling terms and conditions to be aware of for the DBS Live Fresh Card?
It’s important to be aware of the terms and conditions of any credit card you apply for. Some of the important terms and conditions to be aware of for the DBS Live Fresh Card include the eligibility criteria, interest rates, fees and charges, and the cashback rewards program. You can find more information on the DBS Live Fresh Card website.
