The DBS Live Fresh Visa Student Card, as the name suggests, has been specially designed for use by students. This unique card comes with a bunch of features specially put together to make is easy to use, while also helping you earn rewards, manage your spending and maximize savings.
This credit card from DBS is specifically aimed at students. The DBS Live Fresh Student Credit Card comes with S$500 credit limit and does not have any income requirements to qualify for the card. If you are a student who is searching for a credit card that offers up to 10% cashback with no annual membership fee, you may consider applying for this card. The card now comes with new appealing designs from Mr. Sabotage (the famous sneaker artist).
Apply for the DBS Live Fresh Card and get it approved by 31 March 2018 to win either a pair of Nike Air Force 1 sneakers or a G-Shock watch, designed by Mr. Sabotage (Mark Ong). Those who already have this card can also register for the lucky draw. You need to do the following to be eligible to win the goodies:
The bank will use the cashback you earn each month to offset a part of that month’s bill. Let’s say you use your credit card on purchases amounting to S$500 in a month. Then you will receive a cashback of 0.3%, which comes up to S$1.5 (500x0.3/100).
With DBS credit cards, you can make large purchases in smaller instalments spread over 3 months to 2 years. You can do this either through the 0% Instalment Payment Plan (IPP) or the My Preferred Payment Plan (MP3). 0% IPP is available at specific merchants only, while MP3 can be used at any merchant. But since the Live Fresh Student Card has a low credit limit, you’ll have to be mindful of how you use the instalment system.
|Annual fee||S$128.40 (waived for 5 years)|
|Interest rate||25.90% p.a.|
|Minimum monthly payment||3% of the balance or S$50 (whichever is higher)|
|Late payment fee||S$100 for bill amount above S$50.01|
|Cash advance fee||6% of the amount withdrawn (minimum S$15)|
|Interest on cash advance||28% p.a.|
All foreign currency transactions are subject to two main fees:
For example, if you are shopping overseas and the bill amounts to US$100, the total applicable fee is 2.8% on the converted amount. So first, the amount will be converted from US dollar to Singapore dollar. Let’s assume that the conversion rate for the day is 1 USD = 1.31 SGD. So the converted amount will be S$131. So the foreign currency fee you will be paying will be S$3.668 (2.8% of S$131), and the total payment will come up to S$134.668.
You can withdraw money from your credit card in case of dire emergencies. You are liable to pay 6% fee on any cash advances per transaction (minimum charge S$15). The minimum interest charged will be S$2.50 and the interest rate is 28% p.a. This will be charged on the total amount that is withdrawn, starting from the date of withdrawal. The interest rates are calculated on a compounding basis until the time the dues are paid in full.
If you default on your minimum monthly repayments, an additional interest of 3% p.a. will be added to the existing interest rate.
You can apply for the card online by visiting the DBS Singapore website. You will need to enter your contact details, personal information, and residential details and submit your application. Once your credit card is processed and approved, you will be notified by the bank.
You can also go to any DBS branch and apply in person.
If you would like to apply for this card, you need to meet the following criteria:
You will need to submit a photocopy of the following documents while applying for the credit card:
Note: You may experience a delay if proper documents are not submitted while applying for your credit card.
An effective interest rate of 25.90% p.a. is applicable to the transacted amount. The card has an interest-free period of 20 days. No interest is charged if the dues are fully paid within the interest-free period. The interest rates are charged on a daily basis until the dues are paid in full at a compounded rate. A minimum charge of S$2.50 is applicable.
Bill payments to your credit card can be done using different methods. Please refer to the table below for information on the various modes of payments that are available:
|Payment channel||Payment credited on|
|DBS Internet banking/digibank||Payment is instantly made||For DBS/POSB account holders|
|Phone banking/ATM||Next working day – if payment is made prior to 11:30 p.m. from Monday to Saturday, and before 8:00 p.m. on the last business day of the month||For DBS/POSB account holders|
|SMS banking||Next working day – if payment is made prior to 11:30 p.m. from Monday to Saturday, and before 8:00 p.m. on the last business day of the month||Post one-time registration, you can use the SMS banking facility to make full or partial payments to your credit card|
|AXS Stations||Next working day – if payment is made before 4:55 p.m. on weekdays. Payments made on Fridays after 4:55 p.m. will be credited on Tuesday (if it is a working day)|
|Quick cheque deposit||3 working days||If the cheque is deposited by 1:00 p.m.|
|Cheque mail-in||After the cheque is received, will take up to 3 working days||The cheque should be made payable to DBS cards|
|Cash payment at DBS/POSB branches||Next working day|
|InterBank GIRO||3 working days||Fill up and submit GIRO application form|
If there is any loss or theft of your credit card, it should be reported to DBS bank immediately. In such circumstances, your existing (lost) card will be cancelled and a new credit card will be issued to you. After you report the loss of your credit card, you will not be held liable for any fraudulent misuse that may occur. If the card is stolen, you may need to report the incident to the police as well.
Alternatively, you can visit the DBS website to disable your card and apply for a replacement one. You can also contact the customer service centre using the hotline number available on the DBS website.
The maximum liability on you for a card that is lost or stolen, is S$100. This is subject to the bank being convinced that you have not acted malevolently.