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With over 50 years of legacy in Singapore, DBS has been one of the leading financial services groups in Asia with a presence in several markets globally. From personal finance to commercial and private banking, DBS is dedicated to providing financial services for clients with various needs.
DBS Singapore has a selection of credit cards for you to choose from, and the DBS Vantage Card is one of their best cards for the greatest flexibility to switch between miles and cashback. Here is a quick look at the requirements, pros and cons and other relevant details of the DBS Vantage Card before getting your hands on this card.
|Interest rate of 26.8%||High annual fee of $594 (no waiver unless you spend a minimum of S$60,000 in the preceding Card year, on retail category)|
|No supplementary card annual fee||Cash advance transaction fees|
|No minimum spend required||Foreign currency transaction fee|
|Switch between up to 2.2 miles per S$1 or 2.2% cashback for foreign currency spending||Overlimit fee|
|Switch between up to 1.5 miles per S$1 or 1.5% cashback for local spending|
|Complimentary Accor Plus Explorer membership with 1 free hotel night stay|
|12,500 DBS Points (25,000 miles) upon annual fee payment yearly|
|Complimentary Digital Priority Pass™ Membership and 10 free lounge visits within each 12-month period of your membership to over 1,300 airport lounges worldwide|
|Convenient online application with SingPass|
|Open to Singapore Citizens, PRs and foreigners with a Singapore Employment Pass aged 21 and above|
|Members-only dining privileges at fine dining restaurants, including Michelin-awarded ones|
The DBS Vantage Card charges quite a high annual fee of $594 as compared to many banks that charge less than $500 per year or some which do not even charge any annual fees. Besides the annual fee which is non-waivable unless you hit a minimum spend of S$60,000 in the preceding Card year, on retail shopping, there are also cash withdrawal fees or cash advance transaction fees, foreign currency exchange fees, etc.
Considering the high annual fee, the DBS Vantage Card is more worthwhile if you're a frequent flyer who spends quite a lot, particularly retail spending overseas. To make things easier to understand, here';s a quick overview of the rates and fees.
|Singapore Citizens / PRs||Foreigners / Expats|
|21 and above||$120,000|
|21 and above||$120,000|
For salaried employees:
Here are 3 simple steps to apply for the DBS Vantage Card
You may begin your application by clicking on our DBS Vantage Card application link. When you choose to apply online via DBS website using SingPass MyInfo, DBS will pull your identity and income data from SingPass (which is already verified), thus reducing the processing time. The approval-in-principle page will appear within minutes of submitting your MyInfo.
You'll need to provide all the necessary documentation in order for DBS to approve your credit card application. This list of documents include:
You’ll be able to activate your DBS Vantage through the DBS Digibank Mobile App and create your 6-digit Unlock Code to secure your credit card transactions.
You can apply for the DBS Vantage Card in 3 simple steps.
You can convert your cash back benefits to air miles or vice versa, in a few steps: