Which credit card is more suitable to pair with the DBS multiplier account? - Seedly

Credit Card

Bank Account

DBS

DBS Multiplier

DBS Live Fresh Card

POSB Everyday Card

Asked by Anonymous

Asked on 07 Jul 2019

Which credit card is more suitable to pair with the DBS multiplier account?

I just applied for DBS multiplier account, however, I do not have a credit card. I'm thinking between the DBS Live Fresh card or the POSB Everyday card?

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Hi there, if you are opening a DBS multiplier account, you really should pair it with a credit card to earn the bonus interest. Between those two cards, it doesn't matter too much, but be aware that the cash backs are subjected to various limits and criteria, and the annual fee is also payable (although you should be able to waive it). An alternative is to consider a miles card like DBS Altitude where you can earn miles on your first dollar with no restriction and save them up for aspirational travel. Annual fee payment on a miles card will also earn you additional miles.

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Hey there anon!! I’m in the midst of planning which DBS/POSB credit card to get and complement my DBS Multiplier account too so here are the findings I got! I will be focusing on the following 3 credit cards that are the most popular among consumers.

TL;DR: You should pair your DBS Multiplier Account with the POSB Everyday Card because:

  • There is no minimum monthly spend
  • There are lesser cashback caps imposed
  • There is a good variety of merchants to enjoy the cashback from

1. DBS Live Fresh Card

Details:

  • This cashback rate is only applicable with a minimum spend of $600/month.
  • From now till 31 Dec 2019, you’ll get to enjoy an additional 5% cashback on your transport spend for the first 180 days from your card approval date as long as you hit the minimum spend of $600 every month. This cashback is capped at $20/month.
  • You can connect the DBS Live Fresh Card to SimplyGo, charging all your bus/MRT rides directly to it
  • This all-in-one card can also be linked to your Multiplier Savings Account and act as your ATM card

2. POSB Everyday Card

Details:

  • No minimum spend
  • Your cash rebates will never expire
  • You can connect the POSB Everyday Card to SimplyGo too, charging all your bus/MRT rides directly to it
  • This all-in-one card can also be linked to your Multiplier Savings Account and act as your ATM card

3. DBS Altitude Visa Signature Card

  • Miles rate (local): $1 = 1.2 miles
  • Miles rate (overseas): $1 = 2 miles
  • Miles rate (travel): $1 = 3 miles
  • 10,000 extra miles with annual fee payment
  • Additional travel privileges exclusive to cardholders
  • You can connect the DBS Altitude Card to SimplyGo too, charging all your bus/MRT rides directly to it
  • The card can also be linked to your Multiplier Savings Account

How do I decide which is the most suitable card?

  1. Are you focusing on a credit card that rewards you with cashback or miles?
  2. What’s your average monthly expenses? This is to ensure you can hit the minimum spend on cards with one.
  3. What comprises your monthly expenses? Are they mostly online spending or grocery.etc? This is to ensure you’re milking your card to its potential.

Based on the above findings, I would most likely go with the POSB Everyday Card. With no minimum spend imposed, I don’t feel pressurised to spend excessively every month to hit that target. The cashback given for shopping at Sheng Shiong and Watsons are great for me too, but the 20.1% cashback for petrol at SPC is even better for those that drive a lot! The $60 monthly cashback cap imposed on the Live Fresh Card makes it lose out to the POSB Everyday Card. Apparently, the cashback % was at 10% previously AND there were no monthly caps for the Live Fresh Card a year ago. But today’s terms aren’t so favourable anymore so I would really encourage you to get the POSB Everyday Card instead.

If you’re looking for a credit card rewarding you with miles instead, the DBS Altitude Visa Signature Card has pretty decent features and can be linked to your DBS Multiplier Account too.

Essentially, it boils down to how much your monthly expenditure is - the higher it is, the greater the interests you get to earn from the Multiplier Account. If you would be spending a lot in exchange for a better interest rate, why not milk the cashback from the POSB Everyday Card that doesn't have a monthly cap?

I hope this was helpful!

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Valentina Tan
Valentina Tan

04 Aug 2019

Hi! Just saw this and have a quick clarification. You mentioned that there's no monthly cap for POSB Everyday but there's a min $800/mth spend in order to get the 15% cashback on dining? Also, if I don't hit $800/mth spend, and I largely do online shopping (Shopee), transport (Grab, Grabpay, public transport), and some restaurants, does it mean that I'll only get 0.3% cashback for these expenses under the POSB Everyday card?
Sarah Chan
Sarah Chan

05 Aug 2019

Hi Valentina, the 15% cashback on dining promotion was expiring when I wrote this answer so I didn't dive into much details on the min. spend. It seems like the promotion got renewed/extended! I think you should check out the POSB website and T&Cs directly for the full details as promotions come & go so the details might change too. https://www.posb.com.sg/iwov-resources/media/pdf/cards/promotions/posb-everyday-card-promotion-2019-tnc.pdf
Yinghua Liu
Yinghua Liu

()

Level 4. Prodigy
Answered on 10 Jul 2019

It doesn’t matter which card you get. Any amount spend on DBS or POSB credit card will do (even $1 mcd ice cream).

Choose one that will suit your spending pattern more.

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Huang Yixuan
Huang Yixuan, Product Designer at Somewhere

()

Level 6. Master
Answered on 08 Jul 2019

Hey! I don't think it makes a difference as long as you have at least one credit card you spend more than $600 from DBS/POSB. I use the Live Fresh card as I spend mostly online and on paywave, usually about $800-$1000 a month.

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