Review DBS Visa Debit Card

I saw a DBS Visa debit card for a while at the Somerset MRT station, and they promised a 5% cash rebate would sound too appealing to ignore. Considering my cash rebate on my current credit card in the last few months only $ 20 in the range, my spending is double the amount of this is a huge temptation.

But as always, the main question in my mind is: What is capture?

I'm usually skeptical because most cash rebate promotions operate in a similar fashion - they start with a high cash return to lure you to sign up, and then a few months later, the cashback promotion is no longer valid.

Take Dahua Happy Credit Card as an example. When it was launched in 2014, it offered a 10% rebate. Wow! Fast forward to today, the highest discount dropped to 8%. More importantly, it has a lot of conditions, including:

1. Minimum monthly spend of $ 800 (if you spend between $ 400 and $ 799, including recurring bills, your discount will drop to 3%
2. Limited to the cost of refrigeration, market, season, giants and guardians
3. The discount is in SMART $, not cash

Suddenly, the Dahua Happy Credit Card does not seem to be attractive anymore.

Back to DBS Bank Visa debit card, which I am interested in today. After examining these terms, these are key indicators that I emphasize:

Your transaction is debit (not a credit card).

In other words, you can not spend the money and then use a bill payment to meet one of your "pay other bills" criteria for an OCBC 365 or UOB savings account.

Your transaction must be through contactless payment.

Specifically, through Visa payWave (my favorite), Apple Pay, Samsung Pay or Android Pay. Note that transactions on certain mobile apps (such as Grab) that allow in-app Android Android payments are not counted.

You can also use this debit card for NETS payments or NETS FlashPay for public transportation, but you will not be able to paint these payments to get a 5% rebate rebate.

Cash refunds also do not apply to online payments, ATM or AXS transactions, foreign currency transactions and bill payments.

You must limit your cash withdrawal to 3 or less each month.

For those who use POSB / DBS as the default "spend account" (like me), this means that you must now limit the amount of your withdrawal. If you have a joint account, bank withdrawals will be treated as cash withdrawals for both account holders, and ATM withdrawals will only be made for those who use the card.

Well, it's not too hard. We can switch to assigning another account as our spending account or simply withdrawing a larger portion of the cash each time (and saving back at the end of the month, although this tends to be a huge task as we tend to spend on our Wallet with cash, the restraint is not).

But here's the catch! If you (accidentally) withdraw more than 3 withdrawals during the month - whether by ATM or by branch - you will not qualify for any cash back. If you accidentally monitor this part of the habit, you will be confiscated your cash back.

The maximum cash rebate is $ 50 per month.

At this level, you will spend $ 1,000 a month.

This is usually beneficial to most of us because our usual expenses range from $ 400 to $ 800, but may be less attractive to people in their 30s or 40s, and they tend to The higher the amount paid on the credit card (according to the credit bureau credit card report statistics. Get your free credit report here! Not caught, I have got my).

Pay $ 100 to your credit card in the first month to get $ 20 in cash back.

Very simple! Just eat with your friends or family and pay through payWave to meet this criteria.

If you want to sign up, you can read the rest of this card's terms and conditions here.

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