- I am a DBS retail banking customer.
- Viewing my savings and expenditure in a single location is important to me. DBS digibank Application is easy to use and the dashboard view can see all the allocation in a single view.
- I have read through some of the previous reviews consolidated and added some of my own experiences to it.
- I have been a customer of DBS since a kid I started off with the POSB Kids Savings account (I had a very colourful bank book with a squirrel on it) —> than the DBS E Savers (when I got my first part time job during school holidays) —> DBS multi currency savings account (for my current needs)
- I am attracted by their banking philosophy of live more, bank less. As a customer & shareholder I love DBS’s obsession about digitalising and making things effortless.
- DBS altitude was my first and currently only Credit Card, I channel all/ as much of my expenditure as possible through this card as it is linked my to DBS account.
DBS Ecosystem - Bill Payment
- Bill payment is really easy with the DBS Altitude Card.
- Bill payment is even easier if you have a DBS bank account and use the DBS Digibank app. The DBS Digibank ecosystem is seamless.
- Foreign currency transaction fee: 2.8%.
- I don’t think I will use it overseas? Might as well use the DBS multi currency debit card.
- Fast application, I didn’t recall any hiccups.
Miles Card- Value for money uses
- Best and most Value for money go-to general entry-level miles (general daily usage to earn 1.2 MPD) credit cards in Singapore for young professionals who love to travel.
- My default "catch all" miles card for public transport (SimplyGo, earn up to 4 miles per S$1 in your rides), dining, handphone bill payment. Great for everyday user who don't spend much (no minimum spending needed to gain reward point) yet get to accumulate points
- Using the DBS Altitude Card for flight and accommodation bookings and overseas purchases due to high MPD ratio for those transactions. (but they have to be booked through DBS marketplace)
- Might be better to use other miles cards for dining, online expenditure etc specific category spending to maximise the rewards on your spending
DBS Points Expiry —> Can accumulate points for future travels—> DBS Points don't expire unless you convert them.
- DBS Points (that can be converted to miles) that do not expire are a useful feature when you cant travel for some time Eg: During the pandemic period (Couldn’t travel the last 2 years)
- Easy to accumulate DBS points when using the card. The DBS points come in only once the bill is paid it is not an issue since they don't expire.
- The DBS points earned will not expire and hence, you can just keep accumulating spends into miles significantly over years instead of trying to rack up spends quickly until you have sufficient miles to convert into an actual use.
DBS Points —> Air Miles
- It allows me to earn DBS points which can be converted into KrisFlyer miles.
- Rewards are credited as DBS points which can be converted to Miles. Good part is - the points doesn’t expire if you keep it in the account! Only convert to miles when you’re certain to use them! If you’re not into miles, DBS points can get you many other perks too.
- The annual DBS Frequent Flyer Programme (FFP) fee of $42.80 (including GST) is applicable and non-waivable. Enrolment in FFP is needed to convert your DBS Points to air miles
- Easy to convert the purchase to 0% interest instalment plan
- I have personally done 1 such plan over 24 months, 0 % interest (A mini splurge)
Fee Waviers & card cancellation
- Worthwhile card to hold if you can spend enough for DBS to waive the annual fee
- However if you don’t the consensus seems to be is that the experience to be granted a fee waiver is easy and just a few clicks on the DBS online banking app (chatbot on DBS website), unlike other credit cards where you have to call in to appeal.
- I personally have held the card since 2019
- I don’t plan to cancel my card however, according to much of the reviews the card cancellation process is quick and seamless.
Still don't understand why customers have to call for waiver of annual fees, if fee waivers are so easy way not just have no fees? Like some card? Would it cheapen the appeal of the card/ the bank issuing the card? or is it a opportunistic way for the bank to make some extra money? Or is asking for fee waivers like a old school SOP that no one dares demolish?
- I am terrible at using and claiming the rewards - I have not claimed anything
- But the consensus is that the interface to get rewards is user-friendly
- 2 free visits annually to Priority Pass airport lounge access around the world.
- Travel insurance.
- Travel promotions.
- Fast and excellent customer service, standard are really great at DBS.
- Their customer service is top notch once you get hold of the person to talk to if not it is, “press 1 for…, press 2 for…” PTSD.
Future plans (Pending effort to benefit ratio analysis)
- DBS Altitude Card was the first credit card in my wallet as I wanted a no frills card that I can use for my go to card (before I understood the value of having a multi-card strategy for earning miles),
- I plan on adding more cards to my mile-earning arsenal.