Loyal DBS/POSB Customers: Which Credit Card Should You Add To Your Wallet?

|Posted by | Credit Cards, Shopping
Tags: , , , ,

The largest bank in Singapore, DBS was named the ‘World’s Best Bank’ in 2019. If you’re a loyal DBS/POSB customer and have no plans to switch banks, here are the credit cards worth your salt. 

As the economy grapples with the plunge in consumer spending, businesses have been hit hard. Some companies have shuttered, while others have retrenched their staff, cut pay or made it compulsory to take no-pay leave. Despite the pandemic, DBS has committed to hiring more than 2,000 people in Singapore this year—some positive news amidst the uncertainty in job security due to COVID-19. Here’s a look at the credit cards they have to offer:

DBS Promotion: Get $200 cashback when you apply and spend on one of these five DBS/POSB credit cards: DBS Altitude (Visa), DBS Live Fresh, DBS Woman’s World Card, DBS Woman’s Card or POSB Everyday card. You can get up to $250 cashback if you apply for the DBS Altitude (Amex).

Simply enter promo code DBSFLASH in your application to qualify. Promotion is valid from 21 September to 5 October 2020. You’ll have to be a new DBS/POSB credit cardholder and make a qualifying transaction within 30 days of card approval date to be eligible. Terms and conditions apply.

If you’re not a new DBS/POSB credit cardholder, consider these promotions instead.

Why use a DBS/POSB credit card? 

Regardless of which DBS/POSB credit card to choose, there are perks you can enjoy as a DBS/POSB credit card holder. 

  • Enjoy promotions and deals on DBS Lifestyle app: You can register for the special promotions and deals available on the DBS Lifestyle app. 
  • Earn higher interest rates on your DBS Multiplier account: If you have a DBS Multiplier account, or if you have plans to open one, you can earn 1.6% p.a. or more (up to 3.8% p.a) when you credit your salary and spend on a DBS/POSB credit card.
  • Rewards that range from movie tickets to cash vouchers: If you earn DBS Points instead of cashback, you can exchange DBS Points for a variety of rewards. 
  • Keep track of your expenses by category: With the DBS Lifestyle App, you get a breakdown of how much you are spending each month on your credit card based on categories such as dining, transportation, shopping etc.

Miles credit cards

When choosing a miles credit card for DBS, the biggest differentiating factor is how you intend to spend on the credit card. Will you be spending more on online purchases, or do you have plans to spend it on travel in the future? 

Here’s a look at three miles credit cards DBS has to offer.  

DBS AltitudeDBS Woman’s World CardDBS Woman’s Card

Apply Now

Apply Now

Apply Now
Reasons to get this card – 1.2 mpd on local spend (including bus/train rides)
– 2 mpd on overseas spend (in foreign currency)
– 3 mpd on online flights and hotel transactions
– 2 free lounge visits within each 12-month period of your membership
– 4 mpd for online purchases
– 1.2 mpd for overseas purchases
– 0.4 mpd for other purchases
– E-commerce protection for your online purchases

Note: 4 mpd earn rate is capped at S$2,000 each statement month
– 2 mpd for online purchases 
– 0.4 mpd for other purchases
– E-commerce protection for your online purchases

Note: 2 mpd earn rate is capped at S$1,000 each statement month
What this card is good for– Travel
– Public transport (SimplyGo)
– All spend
Online purchases Online purchases 
Minimum annual income required$30,000 ($45,000 for foreigners)$80,000 ($80,000 for foreigners)$30,000 ($45,000 for foreigners)
Annual fee$192.60 (1st year waived)$192.60 (1st year waived)$192.60 (1st year waived)

If you can’t decide between the cards, you can always apply for more than one credit card. Whip out the DBS Woman’s World Card when making an online purchase and use the DBS Altitude for all other spend.  

If you have trouble meeting the minimum annual income required for DBS Woman’s World Card, you can consider other cards such as the Citi Rewards card or the OCBC Titanium that both give 4 mpd for online purchases as well. 

Cashback credit cards

In an uncertain time brought about by COVID-19, travel as we know it might change in the future. Having a cashback card in your wallet could be preferable. With a cashback card, you get a percentage of cash rebates into your credit card when you spend. These cash rebates can be used to offset your next purchase. 

Here are the three cashback credit cards DBS/POSB has that are both offering higher cashback rates for online spend. 

DBS Live Fresh POSB Everyday SAFRA DBS

Apply Now

Apply Now

Apply Now
Not eligible for SingSaver promotion
Reasons to get this card– Up to 5% cashback on your online spend
– Up to 5% cashback on Visa contactless spend (including SimplyGo rides)
– 0.3% cashback for all other spend
– 1-for-1 dining deals

Note: Min. monthly spend of $600 required
– 8% cash rebates on online food delivery from Foodpanda and Deliveroo exclusively
– 3% cash rebates on all other dining spend
– 5% cashback on groceries (including online groceries)
– 3% cash rebates for Watsons in-store and online transactions
– 1% cash rebate on electricity bills
– Up to 20.1% fuel savings at SPC
– 3% cashback on local MasterCard contactless transactions (including bus/train rides)
– 3% cashback on online transactions
– 0.3% cashback on all other retail transactions
– Every dollar spent at participating outlets and facilities at SAFRA earns you 1 SAFRAPOINT which can be redeemed for rewards
– Exclusive access to 6 SAFRA Clubhouses islandwide and benefits at over 1,800 merchant outlets across SAFRA and DBS networks

Note: Min. monthly spend of $500 required
What this card is good for– Online purchases 
– Visa contactless spend
– Public transport (SimplyGo)
– Online food delivery
– Groceries
– Petrol
– Electricity bills
– Mastercard contactless
– Online purchases
– Public transport (SimplyGo)
Minimum annual income required$30,000 ($45,000 for foreigners)$30,000 ($45,000 for foreigners)$30,000 ($45,000 for foreigners)
Annual fee$192.60 (1st year waived)$192.60 (1st year waived)No annual fee, so long as you remain a SAFRA member. SAFRA membership fee applies. 

Working from home has caused many a lifestyle change, chief among them being the switch from physical shopping to online. Both cards offer high cashback rates for your online spending. To reduce the spread of COVID-19, contactless payments have also been strongly encouraged. 

With DBS Live Fresh, you earn an additional 5% cashback on Visa contactless spend. SAFRA members can choose to add the SAFRA DBS card to your wallet to enjoy 3% cashback. If you own a car, the POSB Everyday card can help you to save up to 20.1% of your petrol spend when you pump at SPC. You can also use it to pay for your utility bills and get 1% rebate. 

Read these next: 
All The DBS/POSB Credit Card Deals You Need To Know About Now: July 2020
Top Credit Card Promotions And Deals On SingSaver (July 2020)
Cashback vs Miles vs Rewards: Which Is The Best Type Of Credit Card For You?
Best Cashback Credit Cards In Singapore 2020
Top 6 Air Miles Credit Cards In Singapore 2020

By Ching Sue Mae
A flat white, an adventure-filled travel and a good workout is her fuel. This Manchester United fan enjoys sharing knowledge on personal finance while chasing the dream of financial independence.