• DBS Takashimaya American Express Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    DBS Takashimaya American Express Card Promotion

    Given below is a list of promotions for DBS Takashimaya American Express credit card:

    • Get a cashback of S$50 when you make 5 transactions (2 compulsory purchases at Takashimaya stores) within the first month of the card being approved.
    • Get a discount of 5% and an additional discount of 5% on sale items when you shop at Rabeanco. The offer is valid till December 31, 2017.
    • Dine at Capri by Fraser and enjoy a discount of 15% on the total bill when you pay with your DBS credit card. The offer is valid till December 31, 2017.
    • Enjoy a discount of 10% off storewide at A for Arcade when you shop online with your DBS credit card. The offer is valid till December 31, 2017.

    Other Promotion:

    Credit Limit Review: If you go in for a credit limit review on your DBS credit card, you can stand a chance to win an S$10 cash rebate. The offer is valid until 30 September 2017 and is limited to the first 1,500 credit limit review applications.

    Beach Road Kitchen: You can get a 50% off on the second buffet dinner or on Sunday Brunch at Beach Road Kitchen when you pay with your DBS credit card. The offer is applicable on bookings only and is valid until 30 December 2017.

    DBS Takashimaya American Express Credit Card

    Co-branded cards are great when you are a particular store or brand loyalist. This credit card is for all the Takashimaya Department Store fans. With DBS Takashimaya American Express Credit Card, you get the benefits of value-addition to your Takashimaya shopping, as well as the privileges of American Express and DBS.

    Features of DBS Takashimaya American Express Card

    • Stay up-to-date on the offers and promotions with your credit card by downloading the DBS Lifestyle app.
    • The first-year annual fee is waived for the DBS Takashimaya American Express Credit Card.
    • Spending S$6,000 on the card in a year will give you an annual fee-waiver the following year.

    Rewards

    • For every S$10 you spend at Takashimaya Department Store, you earn 2 Takashimaya Bonus Points.
    • For every S$5 spent on other purchases, you earn 1 DBS Point.

    The redemption rate for your Takashimaya points is a Takashimaya Gift Voucher worth S$30 for every 100 Takashimaya Bonus Points. This redemption can be done directly at the store, without having to wait for conversion or pay extra fees. DBS Points can be converted either into vouchers or into Frequent Flyer Miles. Conversion to Miles will attract a fee of S$25. You can redeem the DBS Points online at Rewards.DBS.com or call 1800 111 1111. DBS Points are valid for 1 year from its accrual.

    Benefits of DBS Takashimaya American Express Card

    • During selected sale events at Takashimaya Department Store, you can get an extra 10% discount.
    • If you have a Takashimaya Parking Cash Card, get S$6 top-up for free when you use your DBS Takashimaya American Express Card at the store for at least S$250.
    • Save 5% when shopping at Takashimaya outlets in Japan.
    • Avail premium dining, shopping and travel benefits through the American Express Selects programme as well as the ones offered by DBS.
    • Get a range of benefits at Esso fuel stations, with up to 14% rebate on fuel purchases and special benefits under the Esso Smiles Driver Rewards programme. The reward plan will give you 1 Smiles Point for every litre of Synergy fuel purchased at any Esso station, S$10 instant discount on fuel with 300 Smiles Points in your account and up to S$300 discount with 750 Smiles Points.

    Instalment Payment Plans

    DBS offers 2 kinds of instalment payment plans

    1. The 0% Instalment Payment Plan (IPP) can be used at selected merchants across Singapore, to convert your payments into monthly instalments instead of a single payment. There is no interest rate if you pay your instalments on time every month. You can choose a repayment period of 3 to 24 months. The merchants participating in this scheme include sectors such as automobile, electronics, insurance, education, beauty & wellness, jewellery and watches, travel, fashion and home furnishings. Before making the payment, check with the store if they are part of the DBS IPP. If you decide to stop your instalment payments before the IPP duration is over, you’ll have to pay S$150 as administrative fee.
    2. My Preferred Payment Plan (MP3) is similar to the 0% IPP, but is more flexible. You can pay in instalments not only at participating stores but at any outlet in Singapore. One of the differences is that there is a processing fee on the transactions, and an effective interest rate also applies. To use MP3, you can either download the application form and send it via mail to DBS Cards or fax it to +65 6782 1063, or send an SMS to 76060, with the text MP3ANRIC. The bank executives will get in touch with you within 3 working days to help you convert to My Preferred Payment Plan.

    The charges applicable under MP3 are

    Duration Processing fee Effective interest rate
    3 months 3% 18.18%
    6 months 3% 10.43%
    12 months 5% 9.50%
    18 months 6% 7.86%
    24 months 6% 5.98%

    Fees and Charges

    Annual fee S$192.60
    Supplementary card fee S$96.30
    Interest rate (annual) 25.9% p.a.
    Late payment charges S$80 in case the amount is above S$50
    Cash advance fee 28% p.a.
    Interest on cash advance (annual) 6% of the amount or S$15, whichever is greater
    Interest-free period 20 days

    An extra 3% interest will be levied on your credit card balance if you do not make even the minimum payment by due date or default on payments.

    Overseas Transactions

    Transactions abroad in foreign currency are subject to administrative fees. The DBS Takashimaya American Express Credit Card will attract the following fees

    Type of fees DBS fee AmEx fee Total fees
    Foreign Currency Conversion fee 2% 1% 3%
    Dynamic Currency Conversion fee None None None

    Unlike MasterCard and Visa, American Express cards don’t charge any fee if you want to pay in Singapore dollars for purchases abroad.

    Cash Withdrawals

    If you require cash urgently, the easiest way to do it is to take some money from your DBS Takashimaya American Express Credit Card. You can take a cash advance from your credit card in 4 ways

    • Through internet banking, using Fast and Secure Transfers (FAST) to transfer money to your account.
    • From any DBS or POSB ATM in Singapore and overseas.
    • From any DBS or POSB bank branch or any overseas bank compliant with American Express.
    • Through DBS phone banking – 1800 111 1111 from Singapore and +65 6327 2265 from abroad.

    The amount you can borrow is linked to your available credit limit. You will be charged a cash advance fee of 6% of the amount, subject to a minimum of S$15.

    How to Apply for DBS Takashimaya American Express Credit Card

    To apply for DBS Takashimaya American Express Credit Card, either go to the DBS website and click on ‘Apply Now’, or go to a DBS bank branch. You will have to fill in an application form and present all the relevant documents. The card will be approved if you match the eligibility criteria and produce the right documents.

    Eligibility Criteria for DBS Takashimaya American Express Card

    • Minimum age
      • Primary cardholder 21 years
      • Supplementary cardholder 18 years
    • Minimum income
      • Singapore citizens and permanent residents S$30,000 per year
      • Foreigners S$45,000 annually

    Documents Required

    • Salaried individuals
      • Photocopy of NRIC (both sides)
      • Most recent 1-year CPF Contribution History Statement
      • Computerised payslips for the past 3 months OR
      • Latest Income Tax Notice of Assessment (NOA) for 1 year OR
      • DBS or POSB account number where your salary is credited
    • Self-employed individuals
      • Photocopy of NRIC (both sides)
      • Most recent 1-year CPF Contribution History Statement OR
      • Latest 2 years’ Income Tax NOA
    • Foreigners
      • Employment Pass with at least 6 months’ validity
      • Photocopy of Passport with at least 6 months validity
      • Computerised payslips for the past 3 months OR
      • Latest 12 months’ CPF Contribution History Statement OR
      • Most recent Income Tax NOA

    Repayments

    The minimum repayment required every month is 3% of the bill or S$50, whichever is higher. If you do not pay the bill on time, a late payment fee of S$80 will be charged if the dues are more than S$50. The bill payment can be done in the following ways

    1. Through DBS or POSB ATMs, if you have a DBS or POSB savings/current account
    2. By cash at cash deposit machines or at bank branches
    3. At AXS Stations
    4. Via phone banking
    5. Using SMS banking
    6. Through internet banking
    7. Via InterBank GIRO transfer, by submitting the GIRO request form
    8. Through cheque, payable to DBS Credit Card and listing your card number behind the cheque leaf. It can be deposited at cheque deposit machines or mailed to DBS Cards, Orchard Road, PO Box No. 360, Singapore 912312.

    Reporting Lost/Stolen Card

    Let’s say you lost your card, or it got stolen, or were forced to disclose your PIN to someone. You are not liable to pay for any transaction done on your card after such an incident. As per Association of Banks in Singapore (ABS), the maximum liability a bank can lay on you in such a circumstance is S$100. However, this minimal liability is applicable only if you adhere to the following

    • Call the bank’s customer care or hotline and let them know about the loss/theft of your credit card. Some banks may also require you to write to them with the particulars. This needs to be done as soon as possible in order to avoid paying penalty.
    • If the card was stolen, register a police complaint and send the report to the bank.
    • DBS should be convinced that the loss or theft or PIN disclosure is involuntary and not because you were negligent or trying to deceive the bank with fraud.

    It is important to practice safe and secure credit card habits in order to ensure that you are not negligent, and end up paying full transaction amounts on lost or stolen cards. Never disclose your PIN or write it down anywhere, nor give away your card to someone without checking what they are doing with it. For more information, check out BankBazaar’s safety tips on credit card usage.

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