facebookI am a fresh grad. Which DBS credit card for my multiplier account should I sign up for if I spend less than $500 monthly? - Seedly


15 Jun 2020

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I am a fresh grad. Which DBS credit card for my multiplier account should I sign up for if I spend less than $500 monthly?

Hi I’m a fresh graduate looking to sign up a DBS credit card for my multiplier account. Given that I may spend less than $500 monthly using credit card, which is the most recommended card to sign up for ? I’m looking at the DBS Altitude Card VS DBS Everyday card. With respect to the Altitude card, will the points expire? Came across some articles saying that it will and some say it won’t. Thank you!

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Hello! If you are spending about S$500 per month, then most credit cards might not be great for you. Often, their annual fees will more than offset the value of cashback or miles you will be earning. For example, DBS Altitude will earn about 1.2 miles per S$1, which adds up to 7,200 miles in a year. This will be worth roughly S$90 when you redeem it for an economy class flight. Meanwhile, you have to pay S$192.6 of annual fee since you won't qualify for their annual fee waiver. Math will be largely similar for most other cards, since the best/most popular cards typically require you to spend at least about S$1,000-2,000 per month to get maximum value.

In this case, you might want to consider Maybank Platinum card or cards from CIMB instead. Maybank Platinum provides S$30 quarterly cashback if you spend S$300 per month, with no annual fee for 3 years, while CIMB cards have no annual fee whatsoever. These banks also have their own savings accounts. Granted, the interest rate won't be as good as DBS Multiplier, but they both have decent alternatives like Maybank iSAVvy & iSAVvy Plus and CIMB FastSaver. Or you could still get DBS Multipllier for decent rates, depending on how much balance you have.​​​

Elijah Lee

12 Jun 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

DBS points earned on the Altitude card do not expire. It's stated on their website: https://www.dbs.com.sg/personal/cards/credit-ca...

There is also no transaction threshold to cross for the credit card usage as long as your total transactions in all eligbile categories cross $2000 a month. That could be achieve by your salary crediting alone.

Thus you need to ask yourself if you prefer to go with cashback or miles. Cashack is for instant rewards, and miles are for aspirational rewards. If you use cashback, the Everyday card should be quite decent. If not, the Altitude is a pretty decent miles card. You may read up more on the milelion website for more details on the card. I am not a cashback person, so I'm unable to comment on the Everyday card.

Remember, you should spend because you need to get something, and not because you want to earn the cashback or miles. No point buying something you don't need, in order to jump into a higher 'tier' of bonus interest.

Pang Zhe Liang

11 Jun 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

It depends on your preference - cashback vs miles.

Assuming that you are holding onto a DBS Altitud...

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