1. Introduction
Credit cards have become an indispensable part of modern-day finance. They offer convenience, rewards, and often exclusive perks. However, one drawback of credit cards is their annual fees. These fees can range from a few hundred to several thousand dollars, depending on the card and its benefits.
For many Singaporeans, the annual fee can be a deterrent to owning a credit card. However, there are a number of ways to get around this fee, including signing up for a card with a welcome bonus that covers the annual fee or spending enough on the card to earn enough rewards to offset the fee.
Another option is to take advantage of DBS’s annual fee waiver program. DBS offers a variety of credit cards, many of which come with an annual fee. However, DBS also offers a number of ways to waive this fee, making it possible to enjoy the benefits of a DBS credit card without the cost.
2. DBS Credit Card Annual Fee Waiver Eligibility
DBS’s annual fee waiver program is available to all DBS credit cardholders. To be eligible for the waiver, you must meet one of the following criteria:
- Spend a certain amount on your DBS credit card within a calendar year
- Maintain a certain average monthly balance on your DBS credit card account
- Be a DBS Treasures Private Client
The specific criteria will vary depending on the credit card you have. For example, the DBS Altitude Visa Signature Card requires you to spend $25,000 within a calendar year to waive the annual fee. The DBS Treasures American Express Platinum Card requires you to maintain an average monthly balance of $50,000 to waive the annual fee.
3. How to Waive Your DBS Credit Card Annual Fee
If you meet the eligibility criteria for DBS’s annual fee waiver program, you can waive your annual fee by following the steps below:
- Log in to your DBS Credit Card account.
- Click on the “My Profile” tab.
- Under the “My Fees” section, click on the “Annual Fee Waiver” link.
- Follow the instructions on the screen to waive your annual fee.
You will need to provide your DBS Credit Card number and the last 4 digits of your NRIC/FIN number. Once you have submitted your request, DBS will process it and waive your annual fee within 1-2 business days.
4. Benefits of Waiving Your DBS Credit Card Annual Fee
There are a number of benefits to waiving your DBS Credit Card annual fee, including:
- Save money: The annual fee for a DBS Credit Card can range from $192.60 to $321.30. Waiving this fee can save you a significant amount of money over time.
- Get more value from your card: If you are not using your DBS Credit Card to its full potential, waiving the annual fee can help you get more value from your card. For example, you can use the card to earn rewards points, miles, or cash back, which you can then redeem for free flights, hotel stays, or other perks.
- Improve your credit score: Paying your credit card bills on time and in full is one of the most important factors in maintaining a good credit score. Waiving your annual fee can help you do this by making it easier to pay off your balance each month.
5. Conclusion
DBS’s annual fee waiver program is a great way to save money on your credit card fees. If you meet the eligibility criteria, you can waive your annual fee by following the steps outlined in this article. This can save you a significant amount of money over time and help you get more value from your DBS Credit Card.
6. FAQs
- How often can I waive my DBS Credit Card annual fee?
You can waive your DBS Credit Card annual fee once per calendar year.
- What happens if I do not meet the eligibility criteria for the annual fee waiver program?
If you do not meet the eligibility criteria for the annual fee waiver program, you will be charged the annual fee for your DBS Credit Card.
- Can I waive the annual fee for my supplementary DBS Credit Card?
No, you cannot waive the annual fee for your supplementary DBS Credit Card. However, you can earn rewards points or miles on your supplementary card that you can use to offset the annual fee.
- What should I do if I have already been charged the annual fee for my DBS Credit Card?
If you have already been charged the annual fee for your DBS Credit Card, you can contact DBS Customer Service to request a refund.
7. Tables
Table 1: DBS Credit Card Annual Fees
| Card | Annual Fee | Eligibility for Annual Fee Waiver |
|---|---|---|
| DBS Altitude Visa Signature Card | $192.60 | Spend $25,000 within a calendar year |
| DBS Treasures American Express Platinum Card | $321.30 | Maintain an average monthly balance of $50,000 |
| DBS Woman’s World Mastercard | $127.50 | Spend $10,000 within a calendar year |
| DBS Live Fresh Card | $63.75 | Spend $5,000 within a calendar year |
Table 2: DBS Credit Card Rewards Programs
| Card | Rewards Program | Earn Rate |
|---|---|---|
| DBS Altitude Visa Signature Card | DBS Altitude Points | 1.2 miles per dollar spent |
| DBS Treasures American Express Platinum Card | Membership Rewards Points | 1.2 Membership Rewards points per dollar spent |
| DBS Woman’s World Mastercard | DBS Woman’s World Points | 4 points per dollar spent on dining and shopping |
| DBS Live Fresh Card | DBS Live Fresh Points | 5 points per dollar spent on groceries and petrol |
Table 3: DBS Credit Card Welcome Bonuses
| Card | Welcome Bonus | Eligibility |
|---|---|---|
| DBS Altitude Visa Signature Card | 20,000 bonus miles | Spend $5,000 within the first 3 months of card membership |
| DBS Treasures American Express Platinum Card | 20,000 bonus Membership Rewards points | Spend $5,000 within the first 3 months of card membership |
| DBS Woman’s World Mastercard | 10,000 bonus points | Spend $1,000 within the first 3 months of card membership |
| DBS Live Fresh Card | 5,000 bonus points | Spend $500 within the first 3 months of card membership |
Table 4: DBS Credit Card Features and Benefits
| Card | Features and Benefits |
|---|---|
| DBS Altitude Visa Signature Card | Complimentary travel insurance, airport lounge access, priority boarding |
| DBS Treasures American Express Platinum Card | Complimentary travel insurance, airport lounge access, dedicated concierge service |
| DBS Woman’s World Mastercard | Discounts on dining, shopping, and beauty treatments |
| DBS Live Fresh Card | Discounts on groceries, petrol, and entertainment |
