If you’re looking for a credit card in Singapore, DBS Bank offers a range of options to choose from. DBS credit cards come with various rewards and benefits that cater to your lifestyle and spending habits. In this article, we’ll guide you through the application process, eligibility criteria, and the different types of DBS credit cards available.
To be eligible for a DBS credit card, you must be at least 21 years old and have a minimum annual income of $30,000. Foreigners must have a minimum annual income of $45,000. You must also have a good credit score and a stable source of income. If you meet these requirements, you can proceed with the application process.
Applying for a DBS credit card is easy and can be done online through the DBS website or digibank. You can also apply by visiting a DBS branch or calling the customer service hotline. The application process typically takes 7-10 working days, and you will be notified of the status of your application via email or SMS. Once your application is approved, you can start enjoying the benefits of your DBS credit card.
Key Takeaways
- To be eligible for a DBS credit card, you must be at least 21 years old and have a minimum annual income of $30,000.
- You can apply for a DBS credit card online, in-person, or over the phone.
- DBS offers a range of credit card options with various rewards and benefits to suit your lifestyle and spending habits.
Eligibility Criteria for DBS Credit Card Applications
If you’re considering applying for a DBS credit card in Singapore, it’s important to know the eligibility criteria. Here are the requirements you need to meet:
Age and Income Requirements
To apply for a DBS credit card, you must be at least 21 years old. Additionally, you must meet the income requirements, which differ depending on whether you’re a Singaporean or Permanent Resident, or a foreigner.
For Singaporeans and Permanent Residents, the minimum gross annual income required is S$30,000. On the other hand, foreigners must have a minimum gross annual income of S$45,000. It’s important to note that these income requirements may vary depending on the specific credit card you’re applying for.
Documentation for Singaporeans and Permanent Residents
If you’re a Singaporean or Permanent Resident, you’ll need to provide certain documentation when applying for a DBS credit card. This includes your NRIC (National Registration Identity Card) or passport, as well as proof of income such as your latest payslip or Income Tax Notice of Assessment.
Requirements for Foreigners
Foreigners who want to apply for a DBS credit card will need to provide their passport and Employment Pass, S Pass, Work Permit, Personalised Employment Pass, Tech.Pass, International Organisation Pass, or any other valid work pass issued by the Ministry of Manpower.
It’s also important to note that foreigners may be subject to additional requirements depending on their employment status and income level.
Overall, if you meet the age and income requirements and can provide the necessary documentation, you should have no problem applying for a DBS credit card in Singapore. With a wide range of credit cards to choose from, there’s sure to be one that suits your needs and lifestyle.
How to Apply for a DBS Credit Card
Applying for a DBS credit card has never been easier. With the convenience of online applications and instant approval, you can get your hands on a DBS credit card in no time. Here are the steps you need to follow to apply for a DBS credit card.
Online Application Process
The quickest way to apply for a DBS credit card is through the online application process. You can apply for a DBS credit card through the DBS website or via the DBS digibank app. When you apply online, you will receive instant approval if you meet the eligibility criteria. You can also track the status of your application online.
Using MyInfo for Faster Application
If you are a Singaporean citizen or permanent resident, you can use your SingPass to log in to MyInfo and apply for a DBS credit card. MyInfo allows you to automatically fill in your personal details, making the application process faster and more convenient.
Application for Supplementary Cards
If you already have a DBS credit card, you can apply for supplementary cards for your family members. The process is simple and can be done online. You can apply for up to 5 supplementary cards per principal card.
DBS Live Fresh Student Card
If you are a student, you can apply for the DBS Live Fresh Student Card. This card comes with exclusive perks and benefits tailored for students. You can apply online and receive instant approval if you meet the eligibility criteria.
Overall, applying for a DBS credit card is a simple and straightforward process. With the convenience of online applications and instant approval, you can get your hands on a DBS credit card in no time.
Required Documents for Application
When applying for a DBS credit card in Singapore, there are certain documents that you will need to provide. The exact documents required will depend on your employment status and other factors, but generally, you will need to provide proof of your identity, income, and residential address.
For Salaried Employees
If you are a salaried employee, you will need to provide the following documents:
- NRIC or passport
- Computerised payslip (most recent)
- CPF contribution history statement (last 12 months)
- Income tax notice of assessment (last 2 years)
- Bank statement (last 3 months)
- Company letter (if you have been employed for less than 3 months)
For Self-Employed Individuals
If you are self-employed, you will need to provide the following documents:
- NRIC or passport
- Income tax notice of assessment (last 2 years)
- Bank statement (last 3 months)
- Company letter (if you have been self-employed for less than 3 months)
- Proof of residential address (e.g. utility bill or bank statement)
For Students and Other Applicants
If you are a student or other type of applicant, you will need to provide the following documents:
- NRIC or passport
- Matriculation card or staff pass (for students)
- Telecommunications bill (last 3 months)
- Bank statement (last 3 months)
- Proof of residential address (e.g. utility bill or bank statement)
It is important to note that these are general guidelines and the exact documents required may vary depending on your individual circumstances. However, by providing all the necessary documents, you can increase your chances of being approved for a DBS credit card in Singapore.
Remember, when applying for a DBS credit card in Singapore, always use “$” when expressing currency.
Understanding DBS Credit Card Options
If you’re looking for a credit card in Singapore, DBS Bank offers a range of credit cards that cater to different needs. Here are some of the most popular DBS credit card options:
DBS Live Fresh Student Card
If you’re a student, the DBS Live Fresh Student Card is a great option. This card offers cashback on online shopping, local transport, and dining. You can earn up to 5% cashback on online shopping and local transport, and up to 10% cashback on dining. Plus, you can enjoy exclusive deals and discounts with this card.
DBS Vantage Card
For those who want to earn higher interest rates on their savings, the DBS Vantage Card is a good choice. This card offers up to 1.2% p.a. bonus interest on your savings when you spend a minimum of $500 per month on your card. You can also earn up to 2% cashback on your overseas spend.
Other DBS/POSB Credit Card Variants
Apart from these two options, DBS Bank offers a range of other credit card variants that cater to different needs. Whether you’re looking for a card that offers cashback, rewards, or miles, you’re sure to find a card that suits your needs.
As a DBS/POSB credit cardholder, you can enjoy a range of benefits and privileges, including exclusive deals and discounts, access to airport lounges, and more. DBS Bank is a leading provider of financial services in Asia, and its credit cards are widely accepted both locally and internationally.
So, if you’re looking for a credit card in Singapore, DBS Bank is definitely worth considering. With its range of credit card options, you’re sure to find a card that meets your needs and helps you save money.
After Your DBS Credit Card Application
Congratulations on successfully applying for your DBS credit card! Now that your application has been approved, there are a few important steps to take to ensure that you can start using your new card as soon as possible.
Setting Up Your PIN and Online Access
To get started, you will need to set up your PIN and online access. Your PIN is a four-digit code that you will use to make purchases and withdraw cash from ATMs. For your security, do not choose an easily identifiable PIN such as your User ID, contact number, birthdate, or repeated or consecutive numbers.
To set up your PIN, you can visit any DBS or POSB ATM in Singapore. Simply insert your credit card, enter your temporary PIN (which will be mailed to you separately), and follow the on-screen instructions to create your new PIN.
In addition to your PIN, you will also need to set up your online access. This will allow you to manage your credit card account online, view your transactions, and make payments. To set up your online access, simply visit the DBS website or digibank and follow the instructions to create your account.
Activating Your Card and Understanding EIR
Once you have set up your PIN and online access, you can activate your card and start using it. To activate your card, simply call the number on the back of your card and follow the prompts to activate it.
It is also important to understand the Effective Interest Rate (EIR) associated with your credit card. The EIR is the actual interest rate that you will pay on any outstanding balance on your credit card. It includes the nominal interest rate as well as any other fees and charges associated with your card.
To avoid paying high interest charges, it is important to pay off your credit card balance in full each month. You can do this by setting up a GIRO payment from your savings or personal DBS/POSB account. This will ensure that your payments are made on time and that you avoid any late fees or penalties.
In conclusion, setting up your PIN and online access, activating your card, and understanding the EIR are all important steps to take after your DBS credit card application has been approved. By following these steps, you can start using your new card with confidence and avoid any unnecessary fees or charges.
Frequently Asked Questions
What documents do I need to apply for a DBS credit card?
To apply for a DBS credit card, you will need to provide a few documents such as your NRIC or passport, latest computerised payslip or a copy of your income tax notice of assessment, and a copy of your employment pass or work permit if you are a foreigner. You can find the complete list of required documents on the DBS website.
How quickly can I receive my DBS credit card after applying?
Once you have submitted your application, it usually takes around 7-10 business days to receive your DBS credit card. However, if there are any issues with your application or documents, it may take longer. You can track the status of your application on the DBS website.
Am I eligible for a DBS credit card as a foreigner residing in Singapore?
Yes, foreigners residing in Singapore are eligible for a DBS credit card. However, you will need to meet certain eligibility criteria such as having a minimum gross annual income of S$45,000 and holding a valid work permit or employment pass. You can find the complete list of eligible work passes on the DBS website.
What’s the minimum income required to qualify for a DBS credit card?
To qualify for a DBS credit card, you will need to have a minimum gross annual income of S$30,000 if you are a Singaporean, or S$45,000 if you are a foreigner. However, some credit cards may have higher income requirements. You can check the income requirements for each card on the DBS website.
Which DBS credit card is the easiest to obtain for newcomers in Singapore?
The DBS Live Fresh Card is a great option for newcomers in Singapore as it has a lower income requirement and offers cashback on everyday spend categories such as dining, online shopping, and transport. However, the best credit card for you will depend on your spending habits and needs. You can compare the features and benefits of all DBS credit cards on their website.
Could you guide me through the online application process for a DBS credit card?
To apply for a DBS credit card online, simply visit the DBS website and select the credit card you wish to apply for. Then, follow the step-by-step instructions to complete the application form and upload the required documents. Once you have submitted your application, you can track its status on the DBS website. If you have any issues, you can contact the DBS customer service team for assistance.