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: A free return trip to Krabi (in the form of 13,000 AirAsia BIG Points) with a min. spend of S$500 within the first month from card approval date.
- Bonus: 2x the miles for above benefits until 31 Jul 2017 (9 miles per S$1 spent on Expedia and 13 miles per S$1 spent on Kaligo)
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 Cash Rebate Card for Families: 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, dining, health & beauty and monthly utility bills. With this card, moms can save on all of their daily needs while taking care of their families. Not only that, because POSB Everyday has a relatively high cap on monthly cash back (S$50 per month for dining, groceries and overseas spending), you can save more money with this card than with most other cards in the market. 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
- Dining Rebate: 3% weekdays, 9% weekends and 14% online food delivery (until 30 Sept 2017)
- 3% cash rebate on Health, Beauty and Personal Care at Watsons
- 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: 5% cash rebate on overseas spend (S$1,000 minimum overseas spend) + 14% dining spend in foreign currencies
- Bonus: A free return trip to Krabi (in the form of 13,000 AirAsia BIG Points) with a min. spend of S$500 within the first month from card approval date.
Cons of POSB Everyday Card
- 0.3% rebate on everything not listed above
- S$700 monthly spend minimum
- Dining rebate, which is central to its value, may not be ever green
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 Cards||Summary||Annual Fee|
|POSB Everyday Card||Best Cashback Card For Families||S$192.6|
|DBS Altitude Visa Signature Card||Best No Annual Fee Miles Card||S$192.6|
|DBS Live Fresh||1.2 miles for Visa payWave + 5% cashback on shopping||S$128.4|
|DBS Black Card||1.2 miles + 5% cash back for Visa payWave & online shopping||S$192.6|
|DBS Woman's Card||2 miles per S$1 on shopping||S$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.
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 ANZ travel
While ANZ Travel Visa Signature Card offers an excellent flat rate rewards of 1.4 miles per S$1, it's benefits are quite concentrated around travel to Australia or New Zealand. To illustrate, its 2.8 miles per S$1 spent in Australia or New Zealand, or on Qantas Airways and Jetstar Airways, is unbeatable. However, if you travel to other countries more frequently, it may be worth considering other options like DBS Altitude or Citi PremierMiles Card. Since DBS Altitude Card awards you 2 miles for S$1 spent anywhere overseas (not just in Australia or New Zealand), and 3 miles for online travel bookings (not just with Qantas or Jetstar), you could earn more rewards on trips to Japan or Bali. Furthermore, DBS is cheaper to use because you can get all of your annual fees waived, whereas ANZ travel costs S$200 per year.
DBS Altitude vs Citi PremierMiles
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
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) vs unlimited cap for POSB Everyday.
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
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
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
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.
POSB Everyday vs DBS Live Fresh
We are not a huge fan of DBS Live Fresh card. It provides 5% cashback on all your online and Visa payWave purchases. As far as we have seen, that’s just about the extent of its benefits. We think POSB Everyday Card is a much better card for a versatile cashback card that can be also used for EZ-Link. If you are looking for an online shopping cashback card, we think you can find a better option with Standard Chartered SingPost Platinum Visa card or OCBC Frank Card.
*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.