DBS is currently having a promotion for its credit cards from now until Aug 6. New cardholders will receive $200 in cashback once you charge 1 qualifying transaction within 30 days from card approval date (no minimum spend).
Use the promo code “DBSFLASH” to participate in this deal. The promotion is valid from 23rd July – 6th Aug 2020.
SingSaver has also rolled out a new dashboard. For this new roll out, if you sign up for a SingSaver account, you will receive three months of free online banking insurance (underwritten by Allianz).
DBS Credit Cards Promotion
Cards that qualify for the DBS promotion:
Cashback cards:
- DBS Live Fresh Card
- POSB Everyday Card
- DBS Altitude Visa Card
- DBS Altitude Amex Card
- DBS Woman’s Card
- DBS Woman’s World Card
DBS Live Fresh Card
The DBS Live Fresh Card is a great cashback card which offers up to 5% cashback for online and contactless spend. I also included it as one of the better alternatives grocery cards in my previous post.
| Category | Rebates | Cashback cap per month |
|---|---|---|
| Contactless spend | 5% | $20 (Equivalent to spending $400) |
| Online spend | 5% | $20 (Equivalent to spending $400) |
| All other category | 0.3% | $20 |
The important thing to note is that you will need to spend a minimum of $600 in the month to qualify for the 5% cashback. Otherwise, it will be only 0.3% cashback.
DBS Live Fresh Card
New DBS/POSB cardholders will receive $200 in cashback. Here are the conditions for the promotion:
- Apply online (via the link below) for a DBS/POSB Credit Card with promo code ‘DBSFLASH’ by 6 August 2020
- Activate the Card within 30 days from Card Approval Date; and
- Charge 1 qualifying transaction on the Card within 30 days from Card Approval Date
POSB Everyday Card
The POSB Everyday Card is a great cashback card with up to 8% cashback. The best thing is that there are no minimum monthly spend requirements. However, the categories eligible for cashback are more narrow and specific.
If you regularly use Foodpanda or Deliveroo, POSB everyday card offers the possibly highest cashback of 8% with no minimum spend.
Here is a summary of the cashback categories.
| Category | Cashback | Details |
|---|---|---|
| Dining | 8% | Online food deliveries on Foodpanda and Deliveroo only |
| Dinning | 3% | All other dinning spend |
| Fuel | Up to 20.1% | SPC only. Details here |
| Shopping | 5% | Online shopping on Amazon.sg, Lazada, Qoo10 and Shopee only. |
| Shopping | 3% | Watsons |
| Shopping | 3% | Pet Lovers Centre (minimum $15 spend on regular items) |
| Grocery | 5% | Sheng Siong |
| Utilities | 1% | Geneco, iSwitch, Sembcorp, Union Power, SPGroup, Best electricity, Ohm, Tuas Power |
| Telecomunnication | 1% | Starhub |
| All other categories | 0.3% | Everything else |
POSB Everyday Card
New DBS/POSB cardholders will receive $200 in cashback. Here are the conditions for the promotion:
- Apply online (via the link below) for a DBS/POSB Credit Card with promo code ‘DBSFLASH’ by 6 August 2020
- Activate the Card within 30 days from Card Approval Date; and
- Charge 1 qualifying transaction on the Card within 30 days from Card Approval Date
DBS Altitude Visa Card
DBS Altitude Visa Card earns you miles in the form of DBS points.
| Category | Conversion | Additional notes |
|---|---|---|
| Online flight and hotel transactions | $1= 3 miles | S$1 = 10 miles on hotel transactions at Kaligo S$1 = 10 miles on accommodation transactions at Agoda S$1 = 6 miles on flight & hotel transactions at Expedia |
| Overseas spend | $1 = 2 miles | |
| Local spend | $1 = 1.2 miles |
You will need to take note that it is calculated based on every $5 spend. So if you spend $9.99, you will only earn equivalent of $5. Also, the card awards DBS points which are converted to miles. You can choose to convert to Krisfyler miles or Aisa Miles.
Additional perks of the DBS Altitude Visa Card:
- Complimentary Priority Pass™ membership with access to over 1,200 airport lounges worldwide: 2 free lounge visits within each 12-month period of your membership
- Get up to S$1 million travel accident insurance coverage for you and your family members when you charge the full travel fare to your DBS Altitude Card
- You can earn up up to 1.2 miles per S$1 on your bus/train rides with SimplyGo!. The minimum spend to qualify for DBS rewards pont is $1.67 for bus/train rides.
DBS Altitude Visa Card
New DBS/POSB cardholders will receive $200 in cashback. Here are the conditions for the promotion:
- Apply online (via the link below) for a DBS/POSB Credit Card with promo code ‘DBSFLASH’ by 6 August 2020
- Activate the Card within 30 days from Card Approval Date; and
- Charge 1 qualifying transaction on the Card within 30 days from Card Approval Date
DBS Altitude Amex Card
It is the exact same card as the DBS altitude Visa Card. The miles conversion is exactly the same.
The card awards DBS points which will be converted to miles:
- Online flight and hotel transactions $1=3miles
- Overseas spend $1=2miles
- Local spend $1=1.2miles
The difference lies with the additional perks offered by Amex:
- Get up to 50% savings on dining, shopping, accommodation and more with Live The World
DBS Altitude Amex Card
New DBS/POSB cardholders will receive $200 in cashback. Here are the conditions for the promotion:
- Apply online (via the link below) for a DBS/POSB Credit Card with promo code ‘DBSFLASH’ by 6 August 2020
- Activate the Card within 30 days from Card Approval Date; and
- Charge 1 qualifying transaction on the Card within 30 days from Card Approval Date
DBS Woman’s Card and DBS Woman’s World Card
The DBS Woman’s Card and DBS Woman’s World Card are cards for online shopping. Get up to 10X DBS Points (or 20 miles) on your online and overseas purchases. Similar to the DBS Altitude cards, DBS points are awarded for every $5 spent.
All DBS Woman’s Cards and DBS Altitude Cards award points. Comparing them side by side, the only advantage of the Woman’s card is online shopping. For every other purchase, the DBS Altitude card awards more points per $5 spent.
| Category | DBS Woman’s Card | DBS Woman’s World Card | DBS Altitude Visa/Amex Card |
|---|---|---|---|
| DBS Points per Online Spend | 5 DBS points per $5 spent | 10 DBS points per $5 spent | 7.5 DBS points per $5 spent (online flights and hotels only) |
| DBS Points per Overseas Spend | 1 DBS point per $5 spent | 3 DBS point per $5 spent | 5 DBS point per $5 spent |
| DBS Points per Local Spend | 1 DBS point per $5 spent | 1 DBS point per $5 spent | 3 DBS point per $5 spent |
DBS Woman’s Card & DBS Woman’s World Card
New DBS/POSB cardholders will receive $200 in cashback. Here are the conditions for the promotion:
- Apply online (via the link below) for a DBS/POSB Credit Card with promo code ‘DBSFLASH’ by 6 August 2020
- Activate the Card within 30 days from Card Approval Date; and
- Charge 1 qualifying transaction on the Card within 30 days from Card Approval Date
Online Banking Insurance
SingSaver had worked with Allianz to offer customers of SingSaver a three month free coverage of online banking insurance.
From 22nd July 2020 till 31st Aug 2020, each customer who sign up with SingSaver will receive three months free coverage of online banking.
Why the Need For Online Banking Insurance
As we embrace more of digital technology, more of our digital accounts are protected by passwords or pins. Here are some common practices which make our accounts more vulnerable to hackers or online attacks:
- Using a simple password which is easily guessable, e.g. ‘1234’, ‘password’, ‘admin’ etc.
- Using the same password for all your accounts
- Not setting up two factor authentication
There are a few common ways to improve the security of your account, simply by:
- longer alphanumeric passwords with symbols
- different passwords for each account
- Setting up two factor authentication
There are password managers like lastpass or you could use the icloud keychain or google password manager to store all your passwords in one place.
However, with the recent COVID pandemic, there has been an increase in phishing scams and attacks. You could also lose your device and have your accounts hijacked. Even two factor authentication is breakable, e.g. hijacking of Twitter’s CEO account, hackers stealing bitcoins from binance etc.
There is always a risk of your accounts being hacked and risk of losing your digital financial assets.
Hence, the online banking insurance is underwritten to protect againsts these risks.
Features of the online banking insurance
The online banking insurance will insure financial loss as a result of cyber fraud or attack. Here is a snippet of the policy langugage:
If unauthorized third parties obtain access to the insured’s credit card(s), debit card(s) and/or bank account(s) via Electronic Device(s) on the Internet as a Cyber Attack and subsequently make use of such access for any unauthorized transfer of money for the purpose of obtaining goods, services and/or money, directly and solely results in a Financial Loss.
The amount insured is up to
- $1000 per event; or
- $2000 per beneficiary
If you interested you could sign up now for a SingSaver account to get a three month coverage for free.
Fatty's Finance 