If you’re thinking about applying for a DBS credit card in Singapore, one of the first things you need to know is the minimum salary requirement. DBS Bank is one of the largest banks in Singapore and offers a range of credit cards, each with different eligibility criteria. The minimum salary requirement varies depending on the type of card you’re interested in.
Understanding DBS Credit Card Eligibility is key before you apply for one. For example, the DBS Altitude Visa Signature Card requires a minimum annual income of S$30,000 for Singaporeans and S$45,000 for foreigners. On the other hand, the DBS Live Fresh Card has a minimum income requirement of S$20,000 for Singaporeans and S$45,000 for foreigners. It’s important to check the eligibility criteria for each card before you apply to ensure you meet the requirements.
Applying for a DBS credit card in Singapore is a straightforward process. You can apply online or in person at a DBS branch. To apply, you’ll need to provide personal and financial information, including your income, employment status, and credit history. Once you’ve submitted your application, DBS will review it and let you know if you’ve been approved. If you’re approved, you’ll receive your new credit card in the mail within a few days.
Key Takeaways
- DBS Bank offers a range of credit cards with different eligibility criteria, including minimum salary requirements.
- To apply for a DBS credit card, you can apply online or in person at a DBS branch and provide personal and financial information.
- Before applying, make sure you understand the eligibility criteria for each card to ensure you meet the requirements.
Understanding DBS Credit Card Eligibility
If you are looking to apply for a DBS credit card, it is important to understand the eligibility criteria. DBS offers a range of credit cards, each with its unique features and benefits. However, to apply for any of these credit cards, you must meet certain requirements.
Income Requirements
One of the most important eligibility criteria for a DBS credit card is the minimum income requirement. As a Singaporean, you must have a minimum gross annual income of S$30,000 to be eligible for a principal credit card. If you are a foreigner, you must have a minimum gross annual income of S$45,000.
It is important to note that these are the minimum income requirements, and some credit cards may require a higher income. For example, the DBS Altitude Visa Signature Card requires a minimum income of S$80,000 for Singaporeans and S$45,000 for foreigners.
Age and Citizenship
Another important eligibility criterion is your age and citizenship. To apply for a DBS credit card, you must be between 21 to 70 years of age. Additionally, you must be a Singaporean or a foreigner with a valid work pass.
If you are a student or do not meet the minimum income requirement, you may still be eligible for a credit card under certain conditions. For example, you may be eligible for a supplementary credit card if you have a family member who holds a principal credit card with DBS.
In conclusion, before applying for a DBS credit card, it is important to check the eligibility criteria and ensure that you meet the minimum income requirement and other criteria. By doing so, you can increase your chances of getting approved for a credit card that suits your needs and lifestyle.
Types of DBS Credit Cards
If you are looking for a credit card that suits your lifestyle, DBS offers a variety of credit cards that offer rewards, cashback, and miles. Here are some of the most popular DBS credit cards in Singapore:
DBS Live Fresh Card
The DBS Live Fresh Card is perfect for those who enjoy dining, shopping, and entertainment. With this card, you can earn up to 5% cashback on dining, online shopping, and entertainment. You can also enjoy up to 10% cashback on selected merchants such as Sheng Siong and Lazada. Additionally, you can earn up to 3% cashback on all other purchases.
DBS Altitude Visa
If you are a frequent traveller, the DBS Altitude Visa card is an excellent choice. With this card, you can earn up to 1.2 miles per dollar spent locally, and up to 2 miles per dollar spent overseas. You can also earn up to 6 miles per dollar spent on Expedia bookings.
POSB Everyday Card
The POSB Everyday Card is perfect for those who spend a lot on groceries, local spend, petrol, utilities, and telco bills. With this card, you can earn up to 8% cashback on groceries at Sheng Siong, and up to 5% cashback on dining, online shopping, and local spend. You can also earn up to 3% cashback on petrol and utilities bills.
Overall, DBS offers a variety of credit cards that cater to different lifestyles. Whether you are looking for rewards, cashback, or miles, there is a DBS credit card that is right for you.
Applying for a DBS Credit Card
If you are looking to apply for a DBS Credit Card, you can do so easily through the digibank app or website. Here’s what you need to know:
Online Application Process
The online application process is simple and straightforward. To begin, you will need to log in to your digibank account using your SingPass or MyInfo credentials. From there, you can select the “Apply for a Credit Card” option and follow the prompts to complete your application.
During the application process, you will be asked to provide some basic personal information, such as your name, address, and contact details. You will also need to provide details about your employment status, income, and other financial information. If you are applying for a supplementary card, you will need to provide the same information for the primary cardholder.
Once you have completed the application, you will receive an instant decision on your eligibility. If you are approved, you can expect to receive your new DBS Credit Card within a few business days.
Required Documents
To apply for a DBS Credit Card, you will need to provide some supporting documents. These may include:
- Your income tax notice of assessment
- Proof of employment, such as your work pass or employment contract
- Proof of income, such as your payslips or bank statements
If you are applying for a supplementary card, you may also need to provide additional documents for the primary cardholder.
It is important to note that you will need to meet certain eligibility criteria to be approved for a DBS Credit Card. This includes having a minimum gross annual income of S$30,000 if you are a Singaporean, or S$45,000 if you are a foreigner. You must also be at least 21 years of age to apply for a principal credit card.
Overall, applying for a DBS Credit Card is a straightforward process that can be completed online in just a few minutes. With a range of cards to choose from, there is sure to be an option that meets your needs and lifestyle.
DBS Credit Card Features and Benefits
If you’re looking for a credit card that offers great rewards and benefits, DBS credit cards are definitely worth considering. With a range of cards to choose from, you can find one that suits your specific needs and lifestyle.
Rewards and Cashback
DBS credit cards offer a variety of rewards and cashback options that can help you save money and earn rewards points. Depending on the card, you can earn cashback on your purchases, earn rewards points that can be exchanged for gifts or vouchers, or even earn air miles.
For example, the DBS Vantage Card allows you to switch flexibly between earning up to 2.2 miles per S$1 or 2.2% cashback. You can also enjoy up to 85,000 miles when you sign up for the card. Meanwhile, the DBS yuu Card offers a base cash rebate of 5% at participating merchants, with no minimum spend required. You can earn an additional 13% cash rebate when you spend a minimum of S$600 per month, or up to 18% cashback in total.
Lifestyle Perks and Discounts
In addition to rewards and cashback, DBS credit cards also offer a range of lifestyle perks and discounts. Depending on the card, you can enjoy discounts on dining, shopping, entertainment, and more.
For example, the DBS Altitude Card offers up to 10 miles per S$1 spent on online flight and hotel transactions, as well as discounts on airport limousine transfers, airport lounge access, and more. Meanwhile, the DBS Live Fresh Card offers up to 5% cashback on online and contactless payments, as well as discounts on dining, entertainment, and more.
Overall, DBS credit cards offer a range of features and benefits that can help you save money, earn rewards, and enjoy a range of lifestyle perks and discounts. Whether you’re looking for a card that offers cashback, rewards points, or air miles, there’s a DBS credit card that can meet your needs.
Managing Your DBS Credit Card
If you have a DBS credit card, it is important to manage it properly to avoid any unnecessary fees and to make the most of its benefits. Here are some tips to help you manage your DBS credit card effectively.
Understanding Your Credit Limit
Your credit limit is the maximum amount of money that you can spend on your DBS credit card. It is important to keep track of your credit limit to avoid overspending and incurring additional fees. Your credit limit is determined based on your income, credit score, and other factors.
Making Payments and Avoiding Fees
To avoid late payment fees, it is important to make your credit card payments on time. You can make payments through DBS iBanking or ATM, or by setting up a GIRO arrangement. You can also pay your credit card bill using the DBS PayLah! app.
If you are unable to pay your credit card bill in full, you can choose to pay the minimum amount due. However, it is important to note that this will result in additional interest charges and may affect your credit score.
To avoid annual fees, you can consider signing up for a DBS multiplier account and crediting your salary to this account. This will allow you to enjoy fee waivers and other benefits.
In addition, DBS offers various promotions and rewards for using your credit card. Be sure to check for any ongoing promotions and take advantage of them to make the most of your DBS credit card.
Overall, managing your DBS credit card can be easy if you keep track of your credit limit, make payments on time, and take advantage of the various benefits and rewards offered by DBS.
Frequently Asked Questions
What’s the minimum income required to snag a DBS credit card in Singapore?
To apply for a DBS credit card in Singapore, you must earn a minimum annual income of S$30,000 if you are a Singaporean or S$45,000 if you are a foreigner. Keep in mind that this is the minimum amount, and your credit limit will depend on your income and credit score.
How can expats qualify for a DBS credit card in the Lion City?
Expats can qualify for a DBS credit card in Singapore if they hold a valid work pass, such as an Employment Pass, S Pass, Personalised Employment Pass, or Long Term Visit Pass with LOC. They must also meet the minimum income requirement of S$45,000 per year.
Is there a specific income threshold for the DBS Altitude Card?
Yes, there is a specific income threshold for the DBS Altitude Card. To apply for this card, you must have a minimum annual income of S$45,000 if you are a Singaporean or S$80,000 if you are a foreigner.
Can you tell me if it’s possible to get a credit card without any income in Singapore?
No, it’s not possible to get a credit card without any income in Singapore. You must have a minimum annual income of S$30,000 if you are a Singaporean or S$45,000 if you are a foreigner to apply for a credit card in Singapore.
What are the prerequisites for foreigners to apply for a credit card in Singapore?
Foreigners must hold a valid work pass, such as an Employment Pass, S Pass, Personalised Employment Pass, or Long Term Visit Pass with LOC, to apply for a credit card in Singapore. They must also meet the minimum income requirement of S$45,000 per year.
Could you share the income criteria for the prestigious DBS Vantage Card?
To apply for the DBS Vantage Card, you must have a minimum annual income of S$30,000 if you are a Singaporean or S$45,000 if you are a foreigner. Additionally, you must have a DBS/POSB deposit account and credit your salary via GIRO to be eligible for the higher interest rate.