DBS has just launched the DBS Vantage Card, a $120,000 annual income requirement credit card that was until now conspicuously missing from the bank’s range of cards.
Cards in this tier almost always target travel perks, and the DBS Vantage is no exception. Here’s a quick initial look at its perks.
Launch bonus for sign-up gift
As with most $120,000 cards, there is a rather hefty annual fee that’s payable. DBS Vantage offers 25,000 miles for payment of the $588.50 annual fee it charges, which is a hefty 2.35 cents per mile.
It’s not fantastic value since it’s an even higher cost per mile than the 10,000 miles it offers for the entry-level DBS Altitude’s $192.60 annual fee (1.93 cents per mile).
For a mere five days during its launch, however, DBS is sweetening the deal by giving extra 55,000 miles for new-to-DBS card applicants, or 35,000 miles for existing DBS/POSB cardholders. One would have to spend at least $8,000 within 60 days to qualify, and the cost per mile is dramatically reduced:
|Promo Type||Amount of Miles||Cost Per Mile|
|Usual sign-up gift||25,000||2.354 cents|
|New to bank applicant until 27th June||80,000||0.736 cents|
|Existing DBS cardholder until 27th June||60,000||0.981 cents|
It’s a great deal even for existing DBS cardholders; buying each mile for under a cent each is a good idea in my opinion.
This promo is for a mere 5 days until 27th June 2022, and you can apply with the following and remember to use code
VTMILES in the promo code field:
New to bank*
Get 60,000 miles upon sign up with code
VANMILES, payment of $588.50 annual fee, and spending S$8,000 in eligible transactions within 60 days
*Apply by end of 31st January 2023
Free hotel night
There are other perks for the card, of course, and perhaps the most significant of which would be the complimentary Accor Plus Explorer membership the card gives, plus one free hotel night each year. This membership typically goes for $408.
10 Priority Pass lounge visits a year
Unlike many other cards of this tier, DBS Vantage doesn’t give unlimited lounge visits. Instead, it gives 10 free visits each membership year. Frequent flyers may find this inadequate; a single return trip with a guest would easily consume 4 visits.
While the income requirement is set at $120,000, I wonder how strict DBS would be on the income requirement. DBS Woman’s World Mastercard has a stated income requirement of $80,000 that historically has never been enforced particularly for existing DBS cardholders.
Update: it does seem like DBS is more strict on the income requirement of this card. If you get a message that you are not eligible, select the “Apply by uploading your documents link” after you click on the Apply button above:
I intend to write a fuller review on this card, but until then, I think the sign-up promo is compelling, even for existing DBS cardholders.
Speaking of promos for existing DBS cardholders, do also check out DBS Takashimaya promo which is ending 30th June 2022.
You may also want to check out a close competitor to the DBS Vantage: Citi Prestige. It too has a promo that is due to end very soon. Personally, I won’t mind having both at once.
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