Cashback Card of the Year 2023: DBS yuu
With a 17.5% rebate earn rate that is realistically achievable without gimmick, I don’t think anyone is surprised with this: DBS yuu is my pick for Cashback Card of the Year 2023. Here’s a look at the great year we’ve had with the best cashback/rebate card of the 2023.
DBS yuu Card
DBS yuu Card is an excellent card that gives up to 18% cash rebates or 10 miles per dollar (in conjunction with the yuu app)
🎁 New Cardholders
Apply as a new cardholder by 31st August 2026, use promo code SINGSAVER, and fill up the SingSaver Rewards Form to choose your gift¹:
HeyMax account required for Max Miles. You can also top up for more gift options. Tap Apply to see more details on the landing page.
Minimum spend of S$500 within 30 days from card approval is required to be eligible for rewards.
⚠️ Important Steps
- Make sure to apply with the promo code and fill up the SingSaver Rewards Redemption Form. No form means no reward, so do not miss this step.
- Maintain valid DBS PayLah! account by the end of the Qualifying Spend period to be eligible for the reward.
- Make a minimum spend of S$500 within 30 days of card approval.
Terms and Conditions: [1]
For reference only; refer to exact details in terms and conditions
A middling start
DBS yuu wasn’t always this good. It started life as a rather mediocre card with confusing mechanics and terrible marketing music. The sign-up promos weren’t too bad, but that was more or less it. Trying to optimise the card was like learning the rules of a boring and convoluted board game, and after laughing at the thick Phua Chu Kang branding most of us probably just ignored the card.
yuu-nanimously good
It was on 1st April 2023 where DBS yuu suddenly became really, really good. The change was so abrupt that it was only a week or so later people started to take notice. 4.5% without minimum spend and another 13% when a reasonable S$600 of minimum spend was reached within a month? It’s an incredible earn rate! Even ardent miles chasers had to take notice especially since giving up 17.5% rebates for 4 or even 6 miles per dollar makes ignoring the DBS yuu card a very costly affair.
We’re probably used to this by now, but it’s worth remembering that 17.5% is still extremely good.
As the months went by, it was clear that the DBS yuu card was a lot better than every other card not just for things like groceries at Giant or Cold Storage, but it was working for even voucher purchases at such grocers and Singtel bill payments (via Singtel kiosks).
What’s next?
Initially, the promotional earn rate was set to end 30th September 2023, but that was extended till 29th February 2024. And amazingly, the card got even better as more companies got added as yuu merchants that’d get DBS yuu’s magnificent 17.5% earn rate. It was a great card that became more vesatile, working for food pick-ups and even dine-ins through foodpanda and ride-hailing through gojek.
The big question that looms is what happens once 29th February 2024 rolls along. 17.5% rebate, as attractive as it is, is clearly unsustainable and a nerf is probably inevitable. Another extension is definitely appreciated, but if that doesn’t happen, the eventual nerf would hopefully be something that leaves the card yuu-sable rather than totally yuuseless.
Until then, there are still a couple of months left to milk this card (and ponder what to do with one’s yuu points). Bringing forward spending through voucher purchases or prepaying one’s Singtel bill ahead of time are things that I would definitely consider as the end of February 2024 draws closer.
What’s your pick?
Do you agree with my pick? Otherwise what’s your pick for Best Cashback Card of 2023?
As we approach the end of the year, stay subscribed as I unveil my picks for Best Miles Card, wallet app and more!
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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