DBS Black Card Review

DBS Black Card Review: Great For Miles Earning and Local Shopping Rewards

The DBS Black Card Visa Card is marketed as a fine travel card that rewards you a whopping 10% cashback from selected retailers and travel agencies and 1.2 miles for every S $1 (or 1 DBS Point for every S $5) that you spend locally. However, we’ve felt it’s better for retail than travel because it’s one of the best installment payment cards out there that can provide you with zero interest and zero processing fees on any 3,6 or 12-month payment period. 

Despite its pros, we believe there are better cards out there than the DBS Black Card. More about it in this DBS Black Card review.

 

The DBS Black Card: Almost an All-In-One Package

The standard marketing for the DBS Black Visa Card highlights it as a rewards card with its points system (which is the DBS point system). You can get 1 DBS Point for every S $5 that you spend plus 1.2 miles for each S $1 that you spend. This means that if you spent S $5, you already have 1 DBS point and 6 flyer miles with select airlines partnered with DBS.

In addition to the points system of this credit card, DBS Black Visa gives you zero interest for 3, 6, or 12-month installment payments on any item from virtually any retailer. Plus, you won’t pay any processing fees for these installment periods, so it’s easy to see why it’s a great way to make big purchases quickly without any extra cost.

 

More About The DBS Black Card Reward System

Like all rewards cards, you can exchange your DBS points for various perks, such as an S $200 bonus credit in exchange for 20,000 DBS points and S $10 NTUC FairPrice vouchers for 690 DBS points. Exchanging your points for non-airline program rewards costs nothing, but if you want to exchange your points for additional miles, you’ll be paying a hefty S $26.75 for each transaction.

Here’s a short rundown on how it works:

  • Each of your spendings gains DBS points that you can use to buy DBS rewards vouchers, immediate use in partner merchants, miles, or annual fee payments. In short, you can use the points to pay your S $192.60 annual fee. You get one DBS point for every S $5 that you spend and 1.2 miles for every S $1 you spend in Singapore.
  • If you have over 5,000 points, you can exchange it for KrisFlyer or Asia Miles for 10,000 air miles. However, you’ll need to enroll in the DBS Rewards Frequent Flyer Programme and pay an administrative fee of S $26.75 for each DBS points exchange. Click here to find out the best airmiles credit card in Singapore. 
  • The DBS KrisFlyer Miles Auto Conversion Program can exchange your points automatically on the 10th day of every quarter of the year. The auto-conversion program allows you to exchange 500 DBS points for 1,000 miles with an administrative fee of S $42.8 for each transaction.
  • Your DBS points expire after one year after they’re earned. This means that points you’ve earned in January expire in January of the following year, and points you’ve earned in June will expire in June of the following year.

 

Key Features

  • 1.2 miles per S$1 spent on local Visa contactless purchases
  • 1 DBS point per S $5 spent
  • 10% cashback on selected travel and retail websites
  • Up to 3X DBS Points (or 6 Miles) per S$5 spent on local Visa contactless spend, 1X DBS Point (or 2 miles) on other spend
  • 0% Interest Payment Plans (3, 6, 12-month payment periods only)
  • 14% fuel savings at Esso
  • Annual interest rate: 26.80%
  • Annual fee and waiver: S $192.60. Free/waived for one year.
  • Wireless payment: Visa payWave, Apple Pay, Samsung Pay, Google Pay

 

Pros

  • Zero interest and processing fees for 3, 6, and 12-month purchases
  • Affiliation with KrisFlyer and Asia Miles
  • One year annual fee waiver
  • Immediate redemption from partner merchants

Cons

  • Low rewards categories
  • Low online and travel rewards
  • Not the best choice for the average Singaporean consumer.

If you’re a big spender who always buys the newest smartphones or appliances, you’ll find the zero interest and processing fee installation payments a great tool for your hassle-free shopping. 

However, the Black Visa Card from DBS isn’t too friendly for the average consumer because spending S $5 for a single DBS point and gaining only 1.2 miles per S $1 can be too much. Alternatively, big-spending Singaporeans who do both offline and online shopping can find higher DBS point rewards than this one, such as the DBS Woman’s World Card. Know more about the best credit cards in Singapore for overall spending here.

 

How DBS Black Card Compare to Other Shopping Credit Cards

Credit Card Minimum Income Requirement Annual Interest Rate Cashback Cashback Cap Minimum Monthly Spending Rewards
DBS Black Card S $30,000 (S $ S $45,000 foreigners) 26.80% 10% n/a S $1 (Visa contactless spending)
  • 1.2 miles per S$1 spend on local Visa contactless purchases
  • 1 DBS point per S $5 spent
  • 10% cashback on selected travel and retail websites
  • 0.4 miles on other purchases
  • 0% Interest Payment Plans (3, 6, 12-month payment periods only)
  • 14% fuel savings at Esso
Citi Cash Back + Mastercard S $30,000 (S $42,000 for foreigners) 26.90% 1.6%-5% Unlimited None
  • Unlimited cashback without cap
  • Waived first-year annual interest rate
  • Cashback earned doesn’t expire
  • Pay With Points and SMS-claimable cash rebate
American Express True Cashback Card S $30,000 (S $60,000 for foreigners) 26.90% 3.0% Unlimited None
  • Unlimited cashback without cap
  • 22-Day interest-free period
  • 3% Cashback for the first six months. Spending cap of S $5,000
  • 1.5% cashback on any purchases after the first six months with no caps.
Standard Chartered Unlimited Cashback Credit Card S $30,000 (S $60,000 for foreigners) 26.90% 1.5% Unlimited None
  • First two years annual fees waived
  • Unlimited cashback and caps
  • 1.5% cashback on all purchases with no caps
  • 22.61% Caltex Fuel Savings
Maybank Family and Friends Card S $30,000 (S $60,000) 25.90% 8% S $125 (Monthly) S $800
  • 8% cashback on groceries, dining, food delivery, transportation, TV streaming services, and pet and vet services
  • 8% cashback capped at S $125 per month and S $25 per category.
POSB Everyday Card S $30,000 (S $45,000 for foreigners) 26.80% 10% Unlimited None
  • 10% cashback on food delivery
  • 3% cashback on utilities and telecom bills
  • 21.8% fuel discount at SPC
  • 0.3% cashback on other spending

 

From this table, you can get higher returns and cashback from other cards if you’re not a frequent flyer. Seeing as the DBS Black card focuses much more on retail than flyer miles, the Maybank Family and Friends Card and POSB Everyday Card outperform it except for DBS Black’s generous zero interest and processing fee service.

 

Multiple credit cards

What We Think Of DBS Black Card 

The DBS Black Card should change its consumer profile to “best installment payments” because of its truly remarkable 3, 6, and 12-month interest and processing fee-free period. The card’s 1.2 miles per S $1 and 1 DBS point per S $5 is notable because you can get a huge discount from select merchants and immediately redeem your points. Keep in mind that you can only get 1.2 miles per S $1 by using contactless payments. Any other spending you do online, offline, and in other countries will only net you 0.4 miles for every S $1 that you spend.

With all of these considered, it’s hard to recommend the DBS Black Card with so many other great options out there that do not charge you S $26.75 every time you exchange your DBS points for miles or require you to auto-convert them to at least pay just S $4. A great alternative to this card is the DBS Altitude Visa Card, which gives you so much more for travel and mileage per purchase.

 

How to Apply For The DBS Black Card

If you’re interested, here’s how to apply for this card.

Eligibility

  • Applicant must be 21 years old and above
  • Open to both Singaporeans (S $30,000 minimum income) and Foreigners (S $45,000 minimum income)

Requirements

  • A copy of NRIC (Front & Back)
  • Latest 3 months computerized payslips
  • Company letter certifying employment and salary in SGD (dated within last 3 months from date of card application)
  • Latest min 3 months CPF Contribution History Statement
  • Latest 1 year of Income Tax Notice Assessment with latest 3 months computerized payslips / 12 Months CPF Statement
  • A copy of your Telecommunication or Utility Bill

For foreigners, the requirement set is different. Learn more about them below:

  • A copy of valid Passport
  • A copy of your Work Pass (Front & Back, min. 6 months validity)
  • A copy of your In-Principal Approval (IPA) if your Work Pass has less than 6 months validity
  • Latest 1 year of Income Tax Notice Assessment with latest computerized payslips
  • A copy of your Telecommunication or Utility Bill (for new DBS/POSB Bank customers only)

Fees

  • Annual Fees: S $192.30 (S $96.30 per year for each supplementary card)
  • Late Fees: S $100 (for any outstanding balance above S $200)
  • Overlimit fee: S $40

 

We Are Answering Some of Your Most Asked Questions

1. How can I enjoy the 0% interest installment with DBS Black Card?

As long as you don’t go beyond the 12-month loan payment period, you can always enjoy zero percent interest and processing fees with the DBS Black Card. Using it to pay for 18-24 months can net you a high 6% processing fee and 7.86% in interest rates.

2. How can I redeem points, and what can I use them for?

You can redeem points using DBS’ banking app. You can claim it for discount vouchers in select DBS-partnered stores and merchants. For example, you can get an S $50 voucher from Takashimaya for 3,200 DBS points. Converting your points to miles will cost you S $26.75 per transaction and requires you to have at least 5,000 points to convert to 10,000 miles.

 

Our Final Thoughts

  • The DBS Black Visa card provides you with travel perks, such as flyer miles and DBS points bonuses.
  • You can get 1.2 miles for every S $1 you spend through contactless Visa transactions and online shopping. You get 1 DBS Point for every S $5 you spend.
  • DBS Black Visa works better as an installment payment card thanks to its 0% interest and processing fee payment plans for 3, 6, and 12-month payment periods
  • Other voucher and points cards, some from DBS itself, have much better features than this card.

Average spenders seeking miles-earnings from traveling and shopping will find DBS Black Card rewarding and convenient to use. But it is always with a cost. A viable alternative to credit cards is the safe and reliable financial products from Singapore’s licensed moneylenders with flexible repayment plans and the lightest interest rates from 1%-4% only. With Instant Loan’s free loan comparison service, you can easily spot the best financial solution, especially when it calls for urgency. Send us a request today. 

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