The new DBS Vantage Card is a premium credit card that comes with a very elevated annual fee, of S$588,50.
However, this service offers many benefits! You will discover all of them in this post!
Features and Benefits
| Local Spend | Earn 1.5 miles per S$1 or 1.5% cashback |
| Overseas Spend | Earn 2.2 miles per S$1 or 2.2% cashback |
| Dining and Petrol Spend | Earn 4 miles per S$1 or 4% cashback |
*4 miles per dollar or 4% cashback on Dining and Petrol spend is capped at S$2,000 spend per calendar month and valid till 31 December 2022.
Remember that the miles/cashback are awarded as DBS Points, which are redeemed for every S$5 spent (1 DBS Point = 2 miles or S$0.02 cashback).
These points, however, can not be used for the following transactions:
- Amaze transactions,
- Charitable donations,
- Education,
- Government institutions and services,
- Hospitals,
- Insurances,
- Top-ups of prepaid accounts e.g. GrabPay and YouTrip,
- Utility bills.
You must not forget that the DBS’ are valid for only 3 years!
Other features of this card are:
- Switch flexibly between miles and cashback,
- Complimentary Accor Plus Explorer Membership,
- Members-only dining privileges,
- Personal 24/7 Visa concierge,
- Complimentary Digital Priority Pass™ Membership.
Eligibility Criteria
To apply for this card, you need to consider the following conditions:
- You are 21 old or above,
- You have a S$120,000 and above income per year.
To start your application process, click here.
What are the taxes and fees?
Take a look at the main charges:
| Annual Fee | S$588.50 (Principal Card)Free (Supplementary Card) 12,500 DBS Points (25,000 miles) will be awarded after the Annual Fee is charged every year. |
| Annual Fee Waiver | While the Annual Fee is strictly non-waivable for the first year, you will enjoy a waiver in the subsequent years if a minimum of S$60,000 worth of retail spend is made in the preceding Card Year.Please note that the 12,500 DBS Points (25,000 miles) will not be awarded if the Annual Fee is waived.^ Card Year refers to the 12 months starting from the date the Card application was approved by DBS. |
| Late fee | S$100 (For outstanding balance above S$200) |
| Finance Charges | 26.80% p.a. chargeable on daily basis (subject to compounding) |