Best DBS & POSB Credit Cards 2017

As the biggest bank in Singapore, DBS and POSB offer some of the best credit card offers in the country. However, each of these cards work well for different people. Before choosing a card, you should first consider how much money you typically spend and what type of card best suits your spending habits. To narrow down the list of countless of cards available in Singapore, we have selected a couple from DBS and POSB to explain why these cards are good and for whom these cards may be ideal. We also compare and contrast these cards with other products from competing banks to help you select the best possible card to match your needs.

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Our Picks For the Best of DBS & POSB Cards in 2017

We have handpicked the best rewards cards from DBS and POSB. Each card has distinct strengths and weaknesses that make them ideal for different people. Read our reviews below to find out which one might be more suitable for you.

DBS Altitude Visa Card: Miles Card for Average Consumer

DBS Altitude Card is a travel card for an average consumer, quite similar to one Citi Premier Miles Card. This card awards 1.2 miles for every S$1 of local spend and 2 miles for every S$1 of overseas spend. On top of this, DBS Altitude provides 3 miles for S$1 spent on online travel bookings, a feature Citi Premier Miles does not have. While it doesn't provide a rich welcome bonus, it helps you save on the annual fee which often can be rather high for air miles rewards cards. For a monthly expense of S$2,000 or more, the S$192.6 of annual fee is waived every year (the first year is also waived). In summary, DBS Altitude provides a decent opportunity earn miles quickly without the burden of hefty fees.

Pros of DBS Altitude

  • Great annual fee waiver when you spend at least S$25,000 a year (10,000 bonus miles if you pay annual fee instead)
  • 1.2 miles for S$1 of local spend and 2 miles for overseas spend
  • 3 miles for S$1 spent on online travel bookings
  • Promotion: Chance to win a free holiday for two in NYC

Cons of DBS Altitude

  • If you don't meet the S$25,000 of annual spend and receive 10,000 miles instead of the annual fee waiver, its bonus program slightly lags behind peers

Best Online Shopping Cashback Card: DBS Live Fresh Card

DBS Live Fresh Card is easily the best cashback card one can get for online shopping needs in Singapore. It can help you save up to 10% on all your online and mobile transactions, especially if you shop often with some large merchants like Amazon, Lazada, Deliveroo, FoodPanda, Grab and Uber. Not only that, it provides up to 1.2 miles (3x DBS points) for all your Visa PayWave and online spending as well. Although DBS Live Fresh Card comes with a monthly minimum spend of S$700, we don't think this is a huge issue given the universal presence of ecommercen and mobile payment systems in Singapore. Its annual fee is also relatively low around S$128.4 and is also waived for 1 year.

Pros of DBS Live Fresh Credit Card

  • 5% cashback on online transactions and mobile payments
  • 5% additional rebate from: Amazon, ezbuy, Lazada, Shopee, Qoo10, Deliveroo, FoodPanda, McDelivery, UberEats, Grab, Uber, Google Play Store, iTunes, ASOS, Uniqlo, Zalora and Zara
  • 3x DBS points (or 1.2 miles) for every S$1 spent online and on Visa payWave
  • Promotion: Up to S$100 welcome cash bonus for spending S$500 within first month of approval

Cons of DBS Live Fresh Credit Card

  • Annual fee of S$128.4 is waived only for 1 year
  • Monthly minimum spend of S$700
  • Monthly cashback capped at S$70

Best Cashback Card for Shopping: DBS Black Visa Card

DBS Black Visa Card is easily one of the best cashback cards for shopping in Singapore. It provides a 5% cash rebate on all shopping expenditures both overseas in Singapore, offline and online. This feature is unique to DBS Black Card because most other shopping cards only offer either online shopping rebate or miles on shopping expenditures. However, DBS Black Card doesn't work well as a "everyday" cashback card because its rewards on other categories of spending are quite low: 1.2 miles (or 3x DBS points) per S$1 spent on local Visa payWave purchases and 0.4 miles (1x DBS points) per S$1 spent on everything else. Still, DBS Black Visa Card is still one of the best cashback credit cards for frequent shoppers who don't want to be limited to shopping in one or two venues.

Pros of DBS Black Card

  • 5% cashback on shopping worldwide including fashion & accessories, and home furnishing, electronics, personal care and more from department stores (until 30 Sept)
  • 5% cashback on groceries at all supermarkets from Jason's, Isetan, Meidi-Ya, Cold Storage, Giant, NTUC Fairprice, RedMart to HonestBee (until 30 Sept)
  • 0% interest payment plans (minimum of S$100 in 1 transaction, maximum 10 transactions per application)
  • High cap on 5% cash rebate capped at S$70 per month
  • Promotion: Up to S$100 welcome cash bonus for spending S$500 within first month of approval

Cons of DBS Black Visa Card

  • S$192.6 of annual fee that is waived for 1 year
  • 3x DBS Points (or 1.2 miles) per S$1 spent on all local Visa payWave purchases
  • 1x DBS Points (or 0.4 miles) per S$1 spent on everything else
  • S$700 monthly spending requirement for the 5% cash rebate

Best Cash Rebate Card for Health & Medical Expenses: POSB Everyday Card

POSB Everyday Card is one of the best cashback cards in Singapore, and it's not difficult to see why. Its generous rewards program encompasses a diverse set of expenditure categories like petrol, grocery, health & beauty, medical and monthly utility bills. With this card, moms can save on all of their daily needs while taking care of their families. Though it charges an annual fee of S$192.6, POSB waives the 1st year's fee.

Pros of POSB Everyday Card

  • Up to 20.1% discount on petrol at SPC
  • 5% rebate on groceries at Sheng Siong
  • 3% cash rebate on Health, Beauty and Personal Care at Watsons
  • 3% rebate on medical expenses at hospitals, medical and dental clinics
  • Up to 1% rebate on monthly telco, SP services, cable TV and broadband bill (capped at S$1 per month)
  • EZ-Link Auto Top Up
  • Can be used as an ATM card for POSB banking customers
  • Promotion: Up to S$100 welcome cash bonus for spending S$500 within first month of approval

Cons of POSB Everyday Card

  • 0.3% rebate on everything not listed above
  • S$700 monthly spend minimum

Summary of Best DBS & POSB Credit Cards

In case you want a quick look at our picks, here are ValuePenguin's best DBS and POSB credit cards.

Best DBS & POSB CardsSummaryAnnual Fee
DBS Altitude Visa Signature CardBest No Annual Fee Miles CardS$192.6
DBS Live Fresh1.2 miles for Visa payWave + Up to 10% cashback on online expenseS$128.4
DBS Black Card1.2 miles for Visa payWave + 5% cash back for ShoppingS$192.6
POSB Everyday CardCashback on Health & Medical ExpendituresS$192.6
DBS Woman's Card2 miles per S$1 on shoppingS$160.5

Similar Cards From Other Banks To Consider

It is helpful to evaluate each card by comparing it to its competitors. Here, we seek to shed more light on how DBS & POSB cards differ from other similar cards in the market to help you find the card you need. Dollar value of rewards is not the only important factor in choosing a credit card because each card caters to a unique set of demand. For instance, you should note that the dollar value can heavily depending on your spending habits. Make sure to read through each card's review and see if it fits your monthly budget and spending habits. There are also other "intangible" benefits like complimentary travel insurance and free access to airport lounges whose values are difficult to quantify but nevertheless incredibly valuable to some consumers.

A graph displaying how best DBS and POSB credit cards compare to other cards in Singapore in terms of their rewards
Comparing Dollar Value of Best DBS Cards and POSB Cards with Similar Cards from Other Banks

DBS Altitude Credit Card vs UOB PRVI Miles Card

UOB PRVI Miles card, in our opinion, represents one of the best values in Singapore. For an annual fee of S$192.6, this card provides rewards equivalent to those offered by cards that charges annual fees of S$500 or more. That is to say, compared to DBS's 1.2 miles for local and 2 miles for overseas expense, UOB PRVI offers 1.4 miles per S$1 of local expense and 2.4 miels for S$1 of overseas expense. So if you can afford a bit more of annual fee or care less about getting a fee waiver, we highly recommending getting a UOB PRVI Miles card. On the other hand, DBS Altitude is a decent way of dodging annual fees because of its annual fee waiver offer if that's something you care about.

DBS Altitude vs Citi PremierMiles Card

Citi PremierMiles Card is great travel card for an average consumer that combines affordability with rich awards. DBS Altitude and Citi PremierMiles are quite similar because both cards require an annual fee of S$192.6, and both provide 1.2 miles for S$1 spent locally and 2 miles for S$1 spent overseas. In our mind, the biggest difference between the two cards is the trade-off between annual fee and bonus award. While Citi Premier doesn’t provide a fee waiver, it welcomes you with bonus of up to 30,000 miles with in the first few months of owning the card. While the difference in annual fees between the two card is about S$400 for a 2-year period, Citi PremierMiles could more than make up for that with the 30,000 miles reward that could be valued anywhere between S$300 and S$2,400.

Another key difference, in our opinion, is that DBS Altitude awards 3 miles on online flight & hotel transactions. If you spend less than S$5,500 on travel bookings in a year, you could benefit from choosing Citi PremierMiles over DBS Altitude (the difference between S$400 you save by using DBS and S$300 you earn from Citi bonus is S$100, you would have to spend S$5,556 x [3 miles you earn on DBS – 1.2 miles you earn on Citi] = 10,000 miles = S$100).

POSB Everyday vs Citibank SMRT Card

Citi SMRT card is another credit card that doubles up as an EZ-Link card that can be used for daily commutes. Its annual fee of S$160.5 is higher than POSB Everyday, but Citi SMRT is actually cheaper over a 2-3 year period because its annual fee is waived for 2 years. We think Citi SMRT is ideal for mass transit commuters who enjoy a cup or two of coffee every day and shop grocery on their way home. It earns up to 7% rebate on groceries above S$50, higher than POSB Everyday’s 5%. Citi SMRT also provides up to 15% rebate on coffee at various café chains like Starbucks, an unique offering in the market. Both Citi SMRT and POSB Everyday offer a 2% rebate on EZ-Link Auto Top-Ups in increments of S$30. Minimum monthly spend is lower than POSB Everyday at S$600, but SMRT$ rebate it offers is also capped at S$40 a month (S$280 annually).

These characteristics make Citi SMRT ideal for individuals, especially young professionals, who have a budget to meet every month. What better ways to optimize your dollars than to utilize SMRT rather than cabs, and cook at home rather than dining out? As long as you spend most of your money on your monthly SMRT pass, coffee and grocery shopping, we think Citi SMRT is an ideal candidate to be added to your wallet.

POSB Everyday vs OCBC 365 Card

OCBC 365 is another card ideal for every day use. Its comprehensive cashback rewards program covers groceries (3%), mass transit (3%), monthly recurring bills (3%), dining (6%) and petrol (22%). OCBC 365 is also the cheaper card to use given that it’ll waiver its annual fee as long as you spend at least S$10,000 per year, and only requires S$600 of monthly minimum spend to receive the benefits. If you are looking for an everyday card with no fees, OCBC 365 is an excellent alternative that can help you save money on life's most essential needs. OCBC 365 also has a 3% rebate on monthly recurring utility bills and all online expenditures including shopping and travel bookings, two areas in which POSB Everyday is considerably weak. However, POSB Everyday does provide a better cashback rate on groceries, so it could better accommodate people whose budgets are centered around cooking at home.

POSB Everyday vs Citibank Cashback Card

Citi Cashback is a great card for maximizing discounts on food. It combines a 8% rebate on all dining expenses with another 8% cashback on groceries, both of which are among the best we’ve seen in Singapore. While POSB Everyday has a more comprehensive list of benefits, we think Citi Cashback could be a better choice for people whose expenses are centered around eating well, both in and out of home.

POSB Everyday vs UOB One Card

UOB One Card is the best flat-rate cashback card in Singapore, and we think it is an ideal choice for anyone with high visibility or consistency in their monthly budget. UOB One offers up to 5% cashback on every dollar spent. Since it’s a flat rate reward, UOB One makes more sense than POSB Everyday card for people who prefer to simplify their monthly credit card bills and have more diversified spending habits. The only caveat, however, is that UOB One could be rather complicated to use. To earn the 5%, you need to spend almost exactly S$2,000 every single month. Given this, we think UOB One is suitable for people who have high fixed monthly expense that allows them to meet the S$2,000 threshold easily.

*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

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