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Deal of the Week – 01 Aug 2022: DBS Vantage Card

by Apoorv Trivedi on
Deal of the Week

DBS Vantage Card

DBS is offering a reward of 60,000 miles till 30 Sep 2022, for new sign-ups to their latest credit card, the DBS Vantage. This card comes with a non-waivable first year annual fee of S$588.50. Assuming a conservative value of 1.4ยข, as we calculated here, the value of those 60K miles is S$840, meaning you net a reward of S$251.50 for signing up for this card.

Deal - DBS Vantage
DBS Vantage
Highest base reward rate of 1.5mpd but high fees

DBS Vantage offers the highest base reward rate of 1.5mpd but charges a high annual fee. Excellent for use with services like CardUp.

DBS Vantage was not included in our original comparison of the best credit cards in Singapore since it hadn’t been introduced at the time. However, we have now updated our analysis to include it and while it does not dethrone the UOB KrisFlyer as the best credit card in Singapore, it comes close.

Based on our spending profiles, the average yield on a DBS Vantage card is 2.48% vs. 2.66% for KrisFlyer UOB. However, while the UOB KrisFlyer only offers 1.2 miles per dollar (mpd) base reward rate (i.e. for spend not eligible for enhanced rewards), the DBS Vantage offers 1.5mpd. This means that if your spending profile is different from our assumptions, you could very well do better with a DBS Vantage card.

1.5mpd is also the highest base reward rate of any credit card (excluding the invite only, high end credit cards e.g. Citi Ultima and DBS Insignia) in Singapore. This makes it an excellent credit card for paying rent and taxes with a service like CardUp. You can only earn the base rewards on those payments . Read this first before doing that, though, as it requires some effort to profit from those transactions.

One complication with the DBS Vantage is that it requires a minimum annual income of S$120K to sign-up and an annual spend of S$60K for the waiver of annual fee. The annual fee is high at S$588.50.

This is one of the main reasons it did not displace UOB KrisFlyer (min. income S$30K, S$192.50 annual fee) as our favorite card despite the 1.5mpd base reward rate.

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Deal of the Week

Deal of the Week – 28 Nov 2022: KrisFlyer UOB

by Apoorv Trivedi on

KrisFlyer UOB Credit Card is the best overall credit card in Singapore with a reward yield of 2.5%+. Receive up to 12,000 miles when you sign up for the card in September.