If you’re living in Singapore, you’ve likely heard of DBS Bank, one of the largest banks in the country. DBS offers a range of credit cards that cater to different lifestyles and spending habits. With so many options available, it can be overwhelming to choose the right one for you. In this article, we’ll cover everything you need to know about DBS credit cards in Singapore.
Understanding DBS Credit Cards DBS credit cards come in a variety of types, including cashback, rewards, and miles cards. Each type offers unique benefits, such as earning cashback on specific categories, earning rewards points that can be redeemed for vouchers or products, or earning miles that can be used to book flights. It’s important to understand the differences between each type and choose one that aligns with your spending habits and preferences.
Applying for a DBS Credit Card If you’re interested in getting a DBS credit card, the application process is straightforward. You can apply online or in person at a branch. DBS requires applicants to meet certain eligibility criteria, such as a minimum income requirement and age limit. Once approved, you’ll receive your credit card in the mail and can start using it to make purchases.
Understanding DBS Credit Cards
If you are looking for a credit card in Singapore, DBS offers a range of credit cards to suit your needs. Here’s everything you need to know about DBS credit cards.
Types of DBS Credit Cards
DBS offers a variety of credit cards to suit different lifestyles and spending habits. Some of the popular DBS credit cards include:
- DBS Live Fresh: This card offers up to 10% cashback on eco-merchants and 5% cashback on online shopping.
- DBS Woman’s World Card: This card is designed for women and offers up to 10X DBS Points on online shopping and 3X DBS Points on overseas spending.
- DBS Altitude Visa: This card is ideal for frequent flyers and offers up to 1.2 miles for every dollar spent locally and 2 miles for every dollar spent overseas.
- DBS Esso Card: This card is perfect for car owners and offers up to 21.2% fuel savings at Esso.
- DBS Miles Card: This card is ideal for those who love to travel and offers up to 1.2 miles for every dollar spent locally and 2 miles for every dollar spent overseas.
DBS Credit Card Features
DBS credit cards come with a range of features and benefits, such as:
- Contactless payment: You can make payments with your DBS credit card by simply tapping it on a contactless payment terminal.
- Mobile payments: You can link your DBS credit card to mobile payment apps like PayLah! and Apple Pay for easy and secure payments.
- Interest-free instalments: You can convert your big-ticket purchases into interest-free instalments with DBS’ instalment payment plans.
- Online banking: You can manage your DBS credit card account online through DBS’ internet banking platform.
DBS Rewards Programme
DBS credit cards come with a rewards programme that allows you to earn points or miles for every dollar spent. You can redeem your points or miles for a variety of rewards, such as cash rebates, air miles, and shopping vouchers.
- DBS Points: You can earn DBS Points with DBS credit cards and redeem them for vouchers, cash rebates, and more.
- KrisFlyer Miles: If you are a frequent flyer, you can earn KrisFlyer Miles with DBS credit cards and redeem them for flights, upgrades, and more.
- Cashback: Some DBS credit cards offer cashback rewards on your spending, which you can use to offset your credit card bills.
Overall, DBS credit cards offer a range of benefits and features that can help you save money and earn rewards on your spending. Choose the card that best suits your needs and start enjoying the benefits today!
Applying for a DBS Credit Card
If you’re interested in getting a DBS or POSB Credit Card, you can easily apply online via the DBS website or digibank. Applying for a credit card is simple and straightforward, and you can complete the process in a few easy steps.
Eligibility Criteria
Before applying for a DBS Credit Card, you need to ensure that you meet the eligibility criteria. To be eligible for a principal card, you need to be above 21 years of age and earn a gross annual income of S$30,000 if you’re a Singaporean or S$45,000 if you’re a foreigner. If you’re a student, you can still apply for a credit card, but you’ll need to meet the minimum annual income requirement.
Application Process
To apply for a DBS Credit Card, you need to fill out an application form online. The application form requires you to provide your personal details, income information, and other relevant details. You’ll also need to upload supporting documents such as your NRIC/Passport, proof of income, and other documents as required.
Once you’ve submitted your application, you can track your application status online. You’ll receive an SMS or email notification once your application has been approved. If your application is successful, you’ll receive your credit card within 7-10 working days.
Activation and PIN Setup
Once you receive your credit card, you need to activate it and set up your PIN. You can activate your credit card online via digibank or by calling the DBS customer service hotline. To set up your PIN, you can either do it online via digibank or at any DBS/POSB ATM.
In conclusion, applying for a DBS Credit Card is a simple and easy process. Make sure you meet the eligibility criteria, fill out the application form correctly, and provide all the necessary supporting documents. Once you’ve received your credit card, activate it and set up your PIN to start using it.
Maximising Card Benefits
Using your DBS credit card can offer you a range of benefits, including rewards points, air miles, and cash rebates. Here are some tips to help you maximise your card benefits.
Earning Rewards Points
Every time you use your DBS credit card, you can earn rewards points. The number of points you earn will depend on the type of card you have and the amount you spend. To maximise your rewards points, consider using your card for everyday expenses like groceries, petrol, and dining out. You can also earn bonus points by using your card at participating merchants.
Redeeming Rewards
Once you have accumulated enough rewards points, you can redeem them for a variety of rewards, such as vouchers, cash rebates, and air miles. To get the most out of your rewards, make sure to check the DBS Rewards Catalogue regularly for the latest deals and promotions. You can also redeem your rewards points for exclusive experiences and events.
Exclusive Promotions
DBS credit card promotions offer cardholders exclusive deals and discounts on a variety of products and services. To take advantage of these promotions, make sure to check the DBS website regularly for the latest offers. You can also sign up for the DBS newsletter to receive updates on the latest credit card promotions.
In addition to DBS credit card promotions, you can also earn bonus rewards points by using your card at participating merchants. For example, if you use your DBS credit card to purchase KrisFlyer miles or Asia Miles, you can earn bonus rewards points that can be redeemed for a variety of rewards.
By following these tips, you can maximise your DBS credit card benefits and get the most out of your card. Whether you are looking for rewards points, air miles, or exclusive promotions, DBS credit cards offer a range of benefits to suit your needs.
Understanding Fees and Charges
If you’re considering a DBS credit card, it’s important to understand the various fees and charges that may apply. Here are the key things you need to know:
Interest Rates and Finance Charges
When you use your DBS credit card to make a purchase, you’re essentially borrowing money from the bank. As such, you’ll be charged interest on any unpaid balance at the end of each billing cycle. The interest rate varies depending on the specific card you have, but typically ranges from 25% to 28% per annum.
In addition to interest charges, you may also be subject to finance charges if you make a cash advance using your credit card. These charges are typically higher than the interest rate for purchases and can add up quickly if you don’t pay off your balance in full each month.
Annual Fees and Waivers
Most DBS credit cards come with an annual fee, which is charged once a year for the privilege of using the card. The fee varies depending on the specific card you have, but can range from $0 to $192.60 per year.
However, some DBS credit cards offer fee waivers if you meet certain criteria, such as spending a certain amount on the card each year. Be sure to check the terms and conditions of your specific card to see if you’re eligible for a fee waiver.
Other Potential Costs
In addition to interest and annual fees, there are a number of other potential costs associated with using a DBS credit card. These can include:
- Late Payment Fees: If you don’t make your minimum payment on time, you may be charged a late payment fee of up to $100 per account.
- Penalties: If you exceed your credit limit or make a payment that bounces, you may be subject to penalties.
- Foreign Transaction Fees: If you use your DBS credit card to make a purchase in a foreign currency, you may be charged a fee of up to 3.25% of the transaction amount.
- Card Replacement Fees: If you lose your card or it’s stolen, you may be charged a fee to replace it.
It’s important to be aware of these potential costs so you can make informed decisions about how and when to use your DBS credit card. By understanding the fees and charges associated with your card, you can avoid unnecessary expenses and make the most of the benefits it offers.
Responsible Credit Card Usage
Using a credit card responsibly is crucial to maintaining your financial health. Here are some tips to help you manage your DBS credit card effectively.
Managing Your Credit Limit
Your credit limit is the maximum amount that you can spend using your credit card. It is important to keep track of your credit limit to avoid overspending and incurring debt. You can check your credit limit on your credit card statement.
If you need to increase your credit limit, you can apply for a credit limit increase through the DBS website or mobile app. However, it is important to remember that a higher credit limit means a higher potential debt if you are not careful with your spending.
Avoiding Debt and Penalties
To avoid accruing debt and penalties, make sure to repay your credit card balance on time and in full every month. If you are unable to pay your full balance, at least pay the minimum amount due to avoid late payment fees and interest charges.
To help you manage your finances, consider using the NAV Planner tool provided by DBS. This tool can help you track your expenses, set financial goals and plan your budget.
Monitoring Transactions
It is important to monitor your credit card transactions regularly to detect any unauthorized or fraudulent charges. You can check your transaction history on your credit card statement or through the DBS website or mobile app.
To help you keep track of your spending, consider setting a budget and keeping a record of your expenses. This will help you avoid overspending and ensure that you can afford to pay off your credit card balance every month.
In summary, responsible credit card usage involves managing your credit limit, avoiding debt and penalties, and monitoring your transactions. By following these tips, you can maintain your financial health and make the most of your DBS credit card.
Lifestyle Perks and Savings
DBS credit cards offer a range of lifestyle perks and savings that can help you save money and enjoy more of what you love. Here are some of the key benefits to look out for:
Dining and Entertainment
If you love dining out or going to the movies, DBS credit cards have you covered. Many cards offer cashback or rewards points on dining and entertainment spend, helping you save money while enjoying your favourite activities. For example, the DBS Altitude Card offers 3 miles per $1 spent on dining and online food delivery, while the DBS Live Fresh Card offers up to 5% cashback on dining and entertainment.
Shopping and Online Purchases
Whether you prefer to shop in-store or online, DBS credit cards can help you save money on your purchases. Many cards offer cashback or rewards points on shopping and online spend, as well as discounts at selected merchants. For example, the DBS Woman’s Card offers up to 10% cashback on online and overseas purchases, while the DBS Live Fresh Card offers up to 5% cashback on online shopping and contactless payments.
Travel and Transport Benefits
If you’re a frequent traveller or commuter, DBS credit cards can help you save money on your travel and transport expenses. Many cards offer air miles, fuel savings, or discounts on transport-related spend. For example, the DBS Altitude Card offers 1.2 miles per $1 spent locally, and 2 miles per $1 spent overseas, while the DBS Live Fresh Card offers up to 5% cashback on petrol and transport.
In addition to the above benefits, many DBS credit cards also offer savings on utilities, groceries, and other lifestyle expenses. Be sure to check the terms and conditions of your card to see what benefits are available to you.
Overall, DBS credit cards offer a range of lifestyle perks and savings that can help you save money and enjoy more of what you love. Whether you’re a foodie, a shopaholic, or a frequent traveller, there’s a card out there that’s perfect for your needs.
Security and Customer Support
When it comes to credit cards, security is a top priority. DBS credit cards come with several security features to help protect you from fraudulent transactions. Here are some tips to protect yourself against fraud:
Protecting Against Fraud
- Check your statements regularly: Keep an eye on your credit card statements and transactions to detect any fraudulent activity. If you notice any suspicious transactions, report them immediately by calling the DBS customer service hotline at 1800 111 1111.
- Sign your card: Sign the back of your card as soon as you receive it. This helps prevent unauthorized use of your card.
- Keep your card details safe: Never share your card details with anyone, especially over the phone or via email. DBS will never ask you to reveal your card details via email or phone.
- Report lost or stolen cards immediately: If your card is lost or stolen, report it immediately by calling the DBS customer service hotline at 1800 111 1111. DBS will block your card to prevent any unauthorized transactions.
Customer Service Options
DBS offers several customer service options to help you with any issues you may encounter with your credit card:
- Virtual Assistant: DBS has a virtual assistant that can help you with your credit card queries. You can access the virtual assistant via the DBS website or mobile app.
- SMS Banking: You can also use SMS banking to check your credit card balance, view your transaction history, and more. Simply send an SMS to 76060 to get started.
- DBS iBanking: DBS iBanking is a convenient way to manage your credit card account. You can view your transactions, pay your bills, and more. Simply log in to your DBS iBanking account to get started.
- Customer Service Hotline: If you need to speak to a customer service representative, you can call the DBS customer service hotline at 1800 111 1111. The hotline is available 24/7 to assist you with any issues you may have.
Remember to always check the terms and conditions of your credit card to understand the expiry date, spending habits, redemption options, and other important details. With DBS credit cards, you can enjoy secure and hassle-free retail purchases while earning rewards.
Frequently Asked Questions
What dazzling benefits can one expect from a DBS Platinum credit card?
With a DBS Platinum credit card, you can enjoy a wide range of benefits including cashback rewards, discounts on dining, shopping, travel, and entertainment, as well as exclusive privileges at select merchants. Some of the benefits include earning up to 10% cashback on online shopping, 5% cashback on contactless payments, and 1-for-1 deals on dining and entertainment. You can also earn air miles and redeem them for free flights or upgrades.
How swiftly does DBS approve a new credit card application?
DBS typically takes 7 to 10 working days to process a new credit card application. However, this may vary depending on the completeness of the application and the supporting documents required. To speed up the process, make sure to provide all the necessary information and documents, such as your income proof and identification documents.
Is it possible to tap your DBS credit card for MRT fares in Singapore?
Yes, you can use your DBS credit card to pay for MRT fares in Singapore. Simply tap your credit card at the gantry when entering and exiting the MRT station. You can also use your DBS credit card to pay for bus fares and other public transport services in Singapore.
What’s the minimum income required to get your hands on a DBS credit card?
The minimum income requirement for a DBS credit card varies depending on the type of card you are applying for. For instance, the DBS Live Fresh Card requires a minimum income of S$30,000 p.a., while the DBS Altitude Card requires a minimum income of S$45,000 p.a. To find out the minimum income requirement for a specific card, check the card’s eligibility criteria on the DBS website.
Can a single soul possess not one, but two DBS credit cards?
Yes, you can apply for and possess more than one DBS credit card, provided you meet the eligibility criteria for each card. However, keep in mind that having multiple credit cards may impact your credit score and financial standing, so make sure to use them responsibly and pay your bills on time.
How can one engage in a lively chat with DBS customer service?
To engage in a lively chat with DBS customer service, you can use the DBS digibot, a chatbot that can assist you with your queries and concerns. You can access the digibot on the DBS website or through the DBS mobile app. If you prefer to speak to a human customer service representative, you can call the DBS hotline or visit a DBS branch in person.
