If you are a DBS credit cardholder in Singapore, you may be wondering how to waive your annual fees. Annual fees can be a significant expense, so it is worth exploring your options for fee waivers. Fortunately, DBS offers a variety of ways to request a fee waiver, and with a little effort, you may be able to save yourself some money.
To start, it is important to understand the various fees associated with DBS credit cards. These may include annual fees, finance charges, and late fees. While these fees may be necessary in some cases, they can also add up quickly and become a burden on your budget. If you are looking to reduce your expenses, requesting a fee waiver may be a good option.
To request a fee waiver, you can use DBS’s digital services, including their automated system. This system is available 24/7, making it easy and convenient to submit your request at any time. You can also contact customer support via phone or email to request a waiver. If you are eligible for a waiver, DBS will notify you by email or phone, and the fee will be waived from your account.
Key Takeaways
- DBS credit cards in Singapore may come with annual fees, finance charges, and late fees.
- You can request a fee waiver using DBS’s digital services or by contacting customer support.
- If you are eligible for a fee waiver, DBS will notify you and waive the fee from your account.
Understanding DBS Credit Card Fees
If you own a DBS credit card, it is important to understand the fees and charges associated with it. In this section, we will break down the annual fee structure and additional charges that you may incur.
Annual Fee Structure
DBS credit cards come with an annual fee, which is charged once a year. The annual fee varies depending on the type of credit card you own. For example, the standard annual fee for a DBS credit card is $196.20 (w.e.f. 1 Jan 2024). However, some credit cards may have a higher or lower annual fee.
To avoid paying the annual fee, you can request for a waiver. DBS allows you to waive the annual fee if you have accumulated a certain amount of DBS Points. However, if you do not have enough DBS Points, you will be charged $0.0388 per DBS Point. It is important to note that terms and conditions apply when requesting a waiver.
Additional Charges
Apart from the annual fee, there are other charges that you may incur when using your DBS credit card. These charges include:
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Late payment fee: If you fail to make your credit card payment on time, you will be charged a late payment fee. The late payment fee for DBS credit cards is $100.
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Cash advance fee: If you withdraw cash using your credit card, you will be charged a cash advance fee. The cash advance fee for DBS credit cards is 6% of the amount withdrawn or $15, whichever is higher.
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Interest charges: If you carry a balance on your credit card, you will be charged interest. The interest rate for DBS credit cards is 26.80% per annum.
It is important to read the terms and conditions of your DBS credit card to understand all the fees and charges that may apply. By doing so, you can avoid any unexpected charges and manage your credit card expenses effectively.
Overall, understanding the fees and charges associated with your DBS credit card is crucial to avoid unnecessary expenses. With this knowledge, you can make informed decisions and manage your finances better.
How to Request a Fee Waiver
If you’re a DBS credit cardholder in Singapore, you may be eligible for a fee waiver. Here’s how you can request one:
Via DBS Digibot
One way to request a fee waiver is through the DBS digibot. To do this, follow these steps:
- Go to the DBS website and click the red chat logo on the bottom right of the screen to launch the digibot.
- Type “Fee Waiver” into the chat box.
- Tap on “Fee Waiver” followed by “Authenticate Me”.
- After authentication, select “Credit Cards Fee Waiver”.
- Select the type of fee waiver you wish to apply for.
Through Phone Banking
Another way to request a fee waiver is through phone banking. Here’s how:
- Call 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas).
- Press 1 for English.
- Follow the prompts to speak with a customer service representative.
- Request a fee waiver for your credit card account.
Email/SMS Channels
DBS also offers fee waiver requests through email or SMS channels. Here’s how to do it:
- Login to your DBS iBanking account.
- Click on “Contact Us” and select “Compose Message”.
- Type in your message and select “Credit Cards” as the subject.
- Submit your request.
Remember, fee waivers are only accepted via the automated system, phone banking, or email/SMS channels. By following these steps, you can request a fee waiver for your DBS credit card account and potentially save yourself some money.
DBS Credit Cards Eligible for Fee Waiver
If you’re a DBS/POSB credit card holder in Singapore, you might be eligible for a fee waiver on your credit card. This can help you save money on fees and charges, making it easier to manage your finances. In this section, we’ll look at two DBS credit cards that are eligible for fee waivers: the DBS Vantage Card and the DBS Black Visa Card.
DBS Vantage Card
The DBS Vantage Card is a credit card that offers cashback rewards on your spending. It’s also eligible for a fee waiver, which means you can save money on your annual fee. To be eligible for the fee waiver, you need to spend at least $12,000 per year on your DBS Vantage Card. If you meet this requirement, you can enjoy a waiver of the annual fee for the first year of your card membership.
DBS Black Visa Card
The DBS Black Visa Card is a premium credit card that offers a range of benefits, including cashback rewards, airport lounge access, and travel insurance. It’s also eligible for a fee waiver, which means you can save money on your annual fee. To be eligible for the fee waiver, you need to spend at least $25,000 per year on your DBS Black Visa Card. If you meet this requirement, you can enjoy a waiver of the annual fee for the first year of your card membership.
Overall, if you’re a DBS/POSB credit card holder in Singapore, it’s worth checking to see if you’re eligible for a fee waiver on your credit card. By taking advantage of these waivers, you can save money on fees and charges, making it easier to manage your finances.
Maximising Your DBS Card Benefits
When it comes to credit cards, choosing the right one is only half the battle. Maximising the benefits of your card is equally important. Here are some tips on how to make the most of your DBS credit card:
Earning DBS Points
One of the most valuable benefits of a DBS credit card is the ability to earn DBS Points. These points can be redeemed for a variety of rewards, including cashback, vouchers, and even air miles. To earn DBS Points, simply use your card for everyday purchases.
Some DBS credit cards offer bonus points for certain types of spending. For example, the DBS Altitude Card offers 3 miles per $1 spent on online flight and hotel bookings. Be sure to check your card’s terms and conditions to see if there are any bonus categories that apply to you.
Meeting Minimum Spend
Many DBS credit cards require you to meet a minimum spend in order to earn rewards or qualify for fee waivers. To meet this requirement, consider using your card for all your everyday purchases, such as groceries, dining, and entertainment.
If you’re having trouble meeting the minimum spend, try consolidating your spending onto your DBS credit card. You can also consider pre-paying bills or making larger purchases to help you reach the minimum spend threshold.
Miles and Rewards
If you’re looking to earn air miles or other rewards, consider using a DBS credit card that offers these benefits. The DBS Altitude Card, for example, offers up to 3 miles per $1 spent on online flight and hotel bookings.
When redeeming rewards, be sure to check the terms and conditions to make sure you’re getting the best value for your points. Some rewards may offer better value than others, so it’s important to do your research.
By following these tips, you can maximise the benefits of your DBS credit card and get the most value out of your spending.
Contacting Customer Support
If you’re having trouble with your DBS credit card fees or need assistance with your fee waiver, you can contact customer support. There are a few ways to get in touch with DBS customer support, including speaking with a customer service officer or using the hotline or SC Mobile app.
Speaking with a Customer Service Officer
If you need to speak with a customer service officer, you can call the DBS hotline at 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas). Once you’re on the phone with a customer service officer, explain your issue and they will be able to assist you. Make sure to have your NRIC or credit card number handy, as they may ask for it to verify your identity.
Using the Hotline or SC Mobile App
Another way to contact customer support is through the DBS hotline or SC Mobile app. You can use the hotline to request a fee waiver or report any issues you’re having with your credit card fees. Alternatively, you can use the SC Mobile app to check your account balance, request a fee waiver, and more.
Overall, contacting customer support is a great way to get assistance with your DBS credit card fees. Whether you choose to speak with a customer service officer or use the hotline or SC Mobile app, you’ll be able to get the help you need to manage your credit card fees and ensure that you’re not paying more than necessary.
Frequently Asked Questions
How can I have my DBS credit card annual fee waived?
If you have a DBS credit card and you want to have your annual fee waived, you can do so by meeting certain conditions. One way is to accumulate a certain amount of DBS points. You need to have 5,000/12,500 DBS Points before requesting for waiver and DBS Points will be reversed within 3 working days. However, if there are insufficient DBS Points in your account, you will be charged S$0.0388 per DBS Point. You can also contact DBS customer service for more information on how to have your annual fee waived.
What are the steps to request a fee waiver for my DBS credit card online?
To request a fee waiver for your DBS credit card online, you need to log in to your DBS account and navigate to the credit card section. You will then be able to select the card for which you want to request a fee waiver. From there, you can follow the instructions provided to submit your request.
Is there a mobile app that allows me to manage my DBS credit card fees?
Yes, there is a mobile app that allows you to manage your DBS credit card fees. The DBS digibank app is available for download on both iOS and Android devices. With this app, you can check your account balance, view your transaction history, and even request a fee waiver for your credit card.
Whom do I contact for assistance with my DBS credit card fee waiver?
If you need assistance with your DBS credit card fee waiver, you can contact DBS customer service. You can reach them by calling 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas). Press 1 for English and wait for the next available customer service officer.
What is the hotline to call for a DBS credit card annual fee waiver?
The hotline to call for a DBS credit card annual fee waiver is 1800 111 1111 (Singapore) or +65 6327 2265 (Overseas). Press 1 for English and wait for the next available customer service officer.
Are there any 24-hour services available for DBS credit card fee waivers?
Yes, there are 24-hour services available for DBS credit card fee waivers. You can call the DBS hotline at any time to request a fee waiver for your credit card.