Best for Local Shoppers Who Pay Off Big Purchases In Installments
DBS Black Visa Credit Card
S$5 on Other Purchases
Every S$5 Spent on Selected e-Wallets*
Over 6 Months
Minimum Spend
Who says a black card is only for the rich and famous? With DBS Black Visa Card, you can enjoy big rewards using contactless payment methods, as well as a 0% interest installment plan. But is it the right credit card for you? Let’s take a look:
Good for: Singaporeans looking for a rewards credit card with a 0% interest installment plan.
DBS Black Visa Credit Card Rewards
Key Features
- Earn up to 3 DBS points (or 6 miles) for every S$5 spent on local Visa contactless purchases. Apple Pay, Samsung Pay, or Google Pay
- Earn 1 DBS point (or 2 miles) for every S$5 spent on all other purchases
- 0% interest installment plans over 6 months
- Up to 15% off your favorite merchants
- S$0 minimum spend requirement
Travel
- Expedia
- 9% off hotel bookings
- 5% off “Things to Do” bookings
- This promotion is valid till 31 December 2021.
- Agoda
- Additional 7% off on hotel bookings worldwide
- 15% off on local staycation bookings
- This promotion is valid till 31 December 2021.
Shopping
- 40RMB off with a minimum spend of 100RMB at Taobao. This promo is for new shoppers.
- For existing shoppers, enjoy S$5 off with a minimum spend of S$100.
These promos are valid till 27 December 2021. Continue to watch out for any online shopping promotions in the future.
Dining
- 1-for-1 on all a la cart Lobster Dishes. This promotion is valid till 31 December 2021.
- 1-for-1 set Menu at S$188++ at Wooloomooloo Steakhouse. This promotion is valid till 30 September 2021.
- S$10 off on 1st order at Foodpanda. This promotion is valid till 31 December 2021.
- Get 3 DBS points for every S$5 local spend on Visa PayWave, Apple Pay, Samsung Pay, and Google Pay.
Pros & Cons
Pros
- Perfect for earning rewards for contactless spend
- Rewards for shopping locally
- Perfect for paying off big purchases in installments
Cons
- Limited online and overseas rewards
- Limited rewards categories
How to Apply
Age Requirement
21 years old and above
Minimum Annual Income
Singapore and Permanent Residents
S$30,000
Foreigners
S$45,000
Fees and Charges
| Annual Fee | S$192.60 |
| Fee waiver | Waive for first year |
| Annual Interest Rate | 26.8% p.a. |
| Late Payment Fee | S$100 |
| Cash Advance Fee | $15 or 8%, whichever is highest |
| Minimum Monthly Spend: | S$0 |
| Minimum Monthly Payment: | $350 or 3%, whichever is highest |
| Foreign Currency Transaction Fee | 3% |
Income Documents
Existing DBS Card Member
- There is no additional requirement required. You can log into your DBS Internet Banking to apply.
New DBS Credit Card Member (Singaporean/Permanent Residents)
- A copy of your NRIC (front and back)
- Latest 3 months payslips or 3 months CPF Contribution History Statement
- Latest 1-year Income Tax Notice Assessment
- Proof of residences such as utility bill
- For employees with less than 3 months service: a copy of Staff Pass and latest computerized payslips
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
How Does It Compare With Other Credit Cards In Singapore?
Credit Card | Rewards | Cashback | Annual Interest | Minimum Spend | Minimum Income Requirement |
DBS Black Visa Card | S$5=3x DBS points on Visa Contactless spend
S$5=1x DBS point on all other purchases
3x DBS points = 6 miles
| N/A | 26.80% | S$0 | Singaporean/PR: S$30,000 Foreigner: S$45,000 |
| Up to 8% cashback on Dining, Groceries, & Petrol
Cashback capped at S$80 per category per month | 26.90% | S$800 | Singaporean/PR: S$30,000 Foreigner: S$42,000 | |
| 5% cashback on Dining, Groceries, & Petrol
Cashback capped at S$2500 | 25.90% | S$600 | Singaporean/PR: S$30,000 Foreigner: S$40,000 | |
Citi Cash Back+ Mastercard |
| 1.6% cashback on eligible spend
Unlimited cashback cap | 26.90% | S$0 | Singaporean/PR: S$30,000 Foreigner: S$42,000 |
| Up to 1.5% cashback on eligible spend
Unlimited cashback cap | 26.90% | S$0 | Singaporean/PR: S$30,000 Foreigner: S$60,000 | |
American Express Singapore Airlines KriFlyer Credit Card | S$1=1.1 Miles on local spend
S$1=2 miles on overseas spend
S$1= 3.1 miles on Grab rides | N/A | 26.90% | S$0 | Singaporean/PR: S$30,000 Foreigner: S$60,000 |
Benefits and Challenges
DBS Black Visa Card is a rewards credit card. It rewards local shoppers at a standard rate of S$5=1 point on all purchases. However, if you want to earn higher rewards points, you may want to use contactless payment.
If you use wireless payment Visa PayWave, Apple Pay, Samsung Pay, or Google Pay, you’ll get S$5=3x DBS points or equivalent to 6 miles.
The most stand-out feature of the DBS Black Visa Card is its 0% interest installment plan with payments over 3, 6, or 12 months. Plus, it doesn’t charge any processing fee. That said, cardholders can pay back large purchases without added costs.
The drawback?
For one, the rewards points aren’t outstanding compared to the competition. That said, you may want to use this black card for larger purchases with a total shopping bill that is way higher than S$5.
Secondly, DBS Black Visa Card also has very limited spending categories that qualify for higher rewards. For instance, it doesn’t offer high rewards for overseas and online transactions. Most purchases, including overseas spend, will only earn you 0.4 miles per S$1 spend. This is considerably lower than other cards.
Other shopping credit cards offer higher cashback for online shopping or mobile spending.
Our Verdict
While DBS Black Visa Card’s 0% interest installment plan is an attractive feature, consumers who rarely pay off high-value purchases in installments can better maximize rewards with other cards.
In fact, average spenders seeking savings on purchases may be interested in HSBC Visa Platinum Credit Card. This card features 5% cashback on dining, groceries, and petrol. Plus, it has a conservative S$600 minimum spend requirement.
Consumers, in general, can also earn 1.6% cashback on eligible spend with Citi Cash Back+ Mastercard with no minimum spend. Best of all, it has an unlimited cashback cap.
Frequently Asked Questions About Black Cards
Why Are Black Cards Highly Coveted?
Black Cards are considered premium luxury cards. It’s the most prestigious type of credit card in the market, reserved only for top-tier high spenders. It offers more benefits and perks than standard or premium cards.
However, many premium rewards cards are now using the black color for their best credit cards. For instance, DBS Black Visa Card is still marketed for average spenders. That said, some card issuers are marketing these cards to give rewards cards an upscale look and feel.
How To Qualify For A Black Card?
To qualify for a true black card, one must have an incredibly large monthly income. The required monthly income usually ranges from S$300,000 up to S$600,000.
The minimum income requirement may vary depending on the bank. But it’s safe to assume that you’ll need to be a millionaire or billionaire to qualify for a true black card.
Is It Hard to Get A Black Card?
Yes. Aside from the sky-high monthly income requirement, some black cards are invitation-only.
That said, if you can’t get your hands on a true black card for now, you may want to consider other rewards cards. For instance, the DBS Black Visa Card comes with good rewards and perks. Plus, it’s much easier to apply for it.
Conclusion
Key Takeaways:
- DBS Black Visa Card’s 0% interest installment plan makes it stand out among the competition.
- This is a great card for individuals who like to make high-value purchases and pay them off in installments
- DBS Black Visa Card offers 5x DBS points (or 6 miles) for every S$5 contactless spend, making it ideal for earning miles.
If you prefer to pay in installments and make mobile contactless payments, you may find the DBS Black Visa Card an attractive option. You can make high-value purchases without worrying about additional costs, plus earn DBS points in the process. However, if you want to earn higher rewards or cashback, you may want to consider other cashback credit cards.
If you need extra cash to pay off high purchases, you can also take out a personal loan. A personal loan has lower interest rates compared to credit cards.
To find the best deals, request up to three loan quotes from the top licensed moneylenders at Loan Advisor. They are the most trustworthy loan comparison website in Singapore that helps you find the best loans available.
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