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.


promo code 388CASH

🔥 👍🏼

New DBS/POSB cardholders

Get S$388 cashback¹ when you:

  • Apply for DBS yuu (either American Express or Visa) with promo code 388CASH
  • Make a min spend of S$800 within 60 days from card approval

Existing DBS/POSB cardholders

Get S$60 cashback² when you:

  • Apply for for DBS yuu American Express (no promo code required)
  • Make a min spend of S$300 within 30 days from card approval

Last date to sign up: 31st May 2024

Terms and conditions (save a copy for future reference):

  1. New cardholder promo
  2. Existing cardholder

Get staggering 4.5% with no minimum spend, or 17.5% with S$600 eligible spend with a month! Staggering earn rate with few conditions required. Watch the review

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).


🔥 Check out April card deals here! Get up to S$400 eCapitaVouchers, iPads, Dyson and more!

Subscribe to the Telegram for more great deals and updates. Prefer email/WhatsApp? Tap here.

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!

Keep up to date on the best cashback/mile cards, financial products, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel.

Subscribe to the channel, then join the group chat. You would often benefit from the tips shared exclusively in the group chat!

Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!

Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).

Leave a Reply