Introduction
If you’re a DBS credit cardholder, you might be wondering how to get your annual fee waived. DBS offers a range of credit cards, including the Altitude, Live Fresh, and Takashimaya cards, all of which come with an annual fee. Fortunately, DBS offers an annual fee waiver for many of its credit cards, which can help you save money.
Understanding Credit Card Fee Waivers
A credit card fee waiver is when the bank cancels or waives the annual fee for your credit card. Most banks offer a first-year annual fee waiver for their credit cards, but some banks like DBS offer annual fee waivers for subsequent years as well. To be eligible for a fee waiver, you’ll need to meet certain criteria, such as having a good credit score and using your credit card regularly.
Key Takeaways
- DBS offers an annual fee waiver for many of its credit cards, including the Altitude, Live Fresh, and Takashimaya cards.
- To be eligible for a fee waiver, you’ll need to meet certain criteria, such as having a good credit score and using your credit card regularly.
- You can request a DBS credit card waiver online or through the bank’s mobile app, and you can also leverage DBS’s digital services for waivers.
Understanding Credit Card Fee Waivers
Basics of Fee Waivers
When you apply for a credit card, you may be charged an annual fee for the use of the card. However, many credit card companies offer fee waivers to their customers. A fee waiver is a request to have the annual fee waived so that you do not have to pay it.
To get a fee waiver, you must meet certain conditions set by the credit card company. These conditions may include spending a certain amount of money on your card each year or having a certain credit score. It is important to read the terms and conditions of your credit card to understand the requirements for a fee waiver.
DBS’s Stance on Waivers
DBS is a bank in Singapore that offers credit cards with annual fees. The bank has a policy of offering fee waivers to its customers. To get a fee waiver from DBS, you must meet certain conditions.
For example, if you have a DBS Altitude Credit Card or DBS Vantage Card, you can request a fee waiver if you have accumulated 5,000 or 12,500 DBS Points respectively. The bank will reverse the DBS Points within three working days once the annual fee is charged. You must have the required amount of DBS Points in your account before requesting for a waiver, or else you will be charged at S$0.0388 per DBS Point.
DBS also offers a one-year annual fee waiver for its POSB Everyday Card, SAFRA DBS Card, and DBS Altitude American Express Card. For the DBS Altitude American Express Card, you need to charge a minimum of S$25,000 to your card each year to receive the annual fee waiver for the following year.
Overall, it is important to read the terms and conditions of your credit card and to understand the requirements for a fee waiver. If you meet the conditions set by your credit card company, you can save money by getting a fee waiver.
How to Request a DBS Credit Card Waiver
If you’re looking to waive your DBS credit card fees, there are several ways to do so. Here are the three main methods:
Digital Request via DBS Digibot
One way to request a waiver is through the DBS Digibot, an automated system that can assist you with your banking needs. To use it, follow these steps:
- Log in to your DBS iBanking account.
- Click on the “Chat with Digibot” button.
- Type “Credit Card Fee Waiver” in the chat box.
- Follow the prompts to complete your request.
Phone Banking and Customer Service
Another option is to call DBS customer service and speak to a customer service officer. To do this, follow these steps:
- Dial 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas).
- Press 1 for English.
- Follow the prompts to speak to a customer service officer.
- Request a credit card fee waiver.
Email/SMS and Online Banking Channels
Finally, you can request a waiver through email, SMS, or online banking channels. To do this, follow these steps:
- Log in to your DBS iBanking account.
- Click on the “Contact Us” button.
- Select “Credit Card Fee Waiver” from the drop-down menu.
- Fill in the required details and submit your request.
In summary, there are several ways to request a DBS credit card fee waiver, including through the DBS Digibot, phone banking and customer service, and email/SMS and online banking channels. Choose the method that works best for you and follow the prompts to complete your request.
Eligibility Criteria for DBS Fee Waiver
If you are a DBS credit card or cashline customer and are looking to waive your annual fee, you must meet the eligibility criteria set by the bank. In this section, we will discuss the two main criteria that you need to fulfill to be eligible for a DBS fee waiver.
Minimum Spend Requirements
One of the eligibility criteria for a DBS fee waiver is meeting the minimum spend requirements. DBS has set minimum spend requirements for each credit card and cashline product, and you need to meet these requirements to be eligible for a fee waiver. The minimum spend requirement varies from product to product, and you can find the details on the DBS website.
DBS Points and Miles Redemption
DBS also allows you to redeem your DBS points and miles for a fee waiver. If you have accumulated enough DBS points and miles, you can use them to offset your annual fee. However, you need to have a minimum number of DBS points and miles to be eligible for this redemption.
To redeem your DBS points and miles for a fee waiver, you need to log in to your DBS account and navigate to the rewards section. From there, you can select the option to redeem your points and miles for a fee waiver.
In conclusion, to be eligible for a DBS fee waiver, you need to meet the minimum spend requirements and have enough DBS points and miles. Make sure to check the minimum spend requirements for your credit card or cashline product and keep track of your DBS points and miles to be eligible for a fee waiver.
Leveraging DBS’s Digital Services for Waivers
If you’re a DBS credit cardholder in Singapore, you can easily request a waiver on your annual fee using DBS’s digital services. DBS’s digital services include their online platform and their chat icon, the DBS Digibot. Here’s how you can leverage these services to request a waiver on your credit card annual fee.
Navigating the DBS Digibot
DBS Digibot is a chatbot that can help you with a variety of banking services, including requesting a waiver on your credit card annual fee. To access the DBS Digibot, simply go to the DBS website and click on the chat icon located at the bottom right-hand corner of the screen. You can then input your query and the chatbot will guide you through the process of requesting a waiver on your annual fee.
If you prefer to use your mobile phone, you can also access the DBS Digibot through the DBS mobile app. Simply download the app and log in with your DBS credentials. You can then access the chatbot by clicking on the chat icon located on the bottom right-hand corner of the screen.
Utilising DBS’s Online Platforms
DBS’s online platform is another convenient way to request a waiver on your credit card annual fee. To access the platform, simply log in to your DBS account and navigate to the “Digital Services” section. From there, you can select “Request for a Fee Waiver Review” and follow the instructions provided.
It’s important to note that fee waiver requests are only accepted via the automated system. If you prefer to speak to a customer service representative, you can do so by calling the DBS customer service hotline.
In conclusion, DBS’s digital services make it easy and convenient for credit cardholders to request a waiver on their annual fee. Whether you prefer to use the DBS Digibot or the online platform, you can rest assured that the process is simple and straightforward. So why not take advantage of these services and save some money on your annual fee?
Other DBS Fee-Related Services
DBS provides a range of credit card fee-related services that can help you save money and make the most out of your credit card. Here are some of the features and benefits that you can enjoy:
DBS Vantage Card Perks
The DBS Vantage card is a great option for those who want to earn rewards for their spending. With this card, you can earn up to 1.2 miles for every $1 spent on local transactions and up to 2 miles for every $1 spent on overseas transactions. In addition, you can enjoy fee waivers for the first year and subsequent years if you meet the minimum spending requirements.
DBS Black Visa and Altitude AMEX Features
The DBS Black Visa and Altitude AMEX cards are designed for frequent travellers. With these cards, you can earn up to 3 miles for every $1 spent on overseas transactions and up to 1.2 miles for every $1 spent on local transactions. In addition, you can enjoy a range of travel-related benefits such as complimentary travel insurance, airport lounge access, and more.
Cashline and Debit Card Considerations
If you have a DBS Cashline or debit card, you can also enjoy fee waivers for certain services. For example, you can enjoy a waiver for the annual fee for your DBS Cashline account if you have a minimum outstanding balance of $500. In addition, you can enjoy fee waivers for cash withdrawals at DBS/POSB ATMs, and for NETS transactions.
Overall, DBS provides a range of fee-related services that can help you save money and make the most out of your credit card. Whether you are a frequent traveller, or simply looking for ways to save on fees and charges, DBS has a range of options that can meet your needs.
Frequently Asked Questions
How can I obtain a waiver for my credit card’s annual fee through DBS?
Obtaining a waiver for your credit card’s annual fee through DBS is easy. You can request a fee waiver through the DBS mobile app or by calling the DBS hotline. You can also interact with DBS digibot to manage your credit card fee waiver.
What steps should I follow to request a fee waiver for my DBS credit card using the mobile app?
To request a fee waiver for your DBS credit card using the mobile app, you need to follow a few simple steps. First, log in to the DBS mobile app. Then, select your credit card account and click on “Request Fee Waiver”. Finally, fill in the required details and submit your request.
Is there a direct hotline available to discuss annual fee waivers for my DBS credit card?
Yes, there is a direct hotline available to discuss annual fee waivers for your DBS credit card. You can call 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas) to speak to a DBS customer service representative.
Can I interact with DBS digibot to manage my credit card fee waiver?
Yes, you can interact with DBS digibot to manage your credit card fee waiver. However, fee waiver request via DBS digibot & Phone Banking is not available between 2345 hrs to 0030 hrs and 0230 hrs to 0245 hrs daily (excluding Sunday and Public holiday). An email/SMS will be sent to you as per your registered bank record on the status of your waiver request within 3 working days.
What are the options for getting my DBS Cashline annual fee waived?
You can get your DBS Cashline annual fee waived by paying down your total outstanding balance to within the maximum total credit limit allowed. The maximum total credit limit allowed is based on your current income records with us.
Are there any 24-hour services provided by DBS for credit card fee waiver inquiries?
No, there are no 24-hour services provided by DBS for credit card fee waiver inquiries. However, you can call the DBS hotline during their operating hours to speak to a customer service representative and request a fee waiver for your credit card.
Remember, DBS Singapore provides easy options for getting your credit card fee waived. You can request a fee waiver through the DBS mobile app, call the DBS hotline, or interact with DBS digibot.