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    SAFRA DBS Card for Cash Rebate

    Let’s check out the SAFRA DBS Card and see what it brings to the table. We’ll be looking at its main features and benefits, and later on, we’ll also give you our review on whether it makes sense for you to apply for it or not.

    Cash Rebate Benefits You’re Looking for

    • Get a cash rebate of 3% on online purchases.
    • Get a cash rebate of 3% on contactless transactions made in Singapore.
    • Earn a 0.3% cash rebate on every other retail transaction.
    Learn More About DBS Credit Cards

    How You Earn the Cash Rebate

    You earn these cash rebates in the form of SAFRA$. The maximum amount of SAFRA$ you can accumulate every month is SAFRA$50 per card. The SAFRA$ you earn for each transaction will be credited to you within 30 days from the month in which you made the transaction. Each SAFRA$1 is equivalent to S$1.

    Also, do keep in mind that the cash rebates you earn are valid only for a period of 12 months from the date on which you earn them. After this period, they will automatically get forfeited.

    Let’s take a look at an illustration to understand how this cash rebate earning system works:

    Spend Category Monthly Spen SAFRA$ Earning Rate SAFRA$ Earned
    Online Fashion S$700 3% SAFRA$21
    Online Groceries S$400 3% SAFRA$12
    Local Contactless Transactions S$800 3% SAFRA$24
    Fuel S$200 0.3% SAFRA$0.60
    Dining S$300 0.3% SAFRA$0.90
    Total S$2,400   SAFRA$50*

    *The actual cash rebate accrued in the above illustration is SAFRA$58.50. But since there is a monthly limit on how much rebate you can earn, you will get only SAFRA$50.

    Learn More About DBS Credit Card Balance Transfer

    Other Card Benefits That You May Enjoy

    Here is a list of a few other benefits that this card gives you:

    • There is no separate annual card fee. If you’re a SAFRA member, you get this card free of cost.
    • Special entry into 6 SAFRA Clubhouses in Singapore. You get to make use of the various facilities such as gyms, swimming pools, and other entertainment facilities available at these clubhouses.
    • In addition to the SAFRA$ you earn, you also get 1 SAFRAPOINT for every S$1 you spend at the various participating facilities and outlets at SAFRA. Redeem these points for a range of services, products, and gifts.
    • For purchases that are below S$100 in value, you can simply tap and pay using this card at more than 30,000 outlets. This is a contactless feature brought to you by Mastercard and doesn’t need your signature to validate your purchase.
    • If you register your card on the TransitLink ABT Portal, you can enjoy faster payments on public buses, MRT, and LRT rides by simply tapping and paying using the Mastercard contactless facility.
    • Pay easily for cab rides in CityCab and Comfort taxis by topping up your card and using the NETS FlashPay facility.
    • Link this card to your savings bank account and use it as your ATM card as well.
    • Get exclusive privileges such as exclusive perks and discounts at more than 1,800 participating merchant outlets.

    Now, Does it Make Sense to Apply for the SAFRA DBS Card?

    In a country like Singapore where there are many other cashback credit cards available, this one is a good option if you shop regularly at SAFRA outlets. To know exactly how it can be beneficial to you, let’s look at its features from a few angles.

    1. It Helps You Save on a Range of Online Spends

    In a world where most of us shop online, credit cards that reward you every time you buy something on the internet help you save money. The SAFRA DBS Card being one of them gives you cash rebates on a whole range of online transactions.

    For instance, if you buy groceries worth S$200 online, you earn SAFRA$6 (200 x 3%). If you buy groceries for the same amount using this card at your local supermarket, you will get a cash rebate of only SAFRA$0.6 (200 x 0.3%).

    2. Consider Your Spending Habits - Additional Rewards on SAFRA Transactions  

    Before you apply for any credit card, you need to make sure that the spend categories on which the card offers rewards match with your usual spending habits. For example, if you usually spend on food and entertainment, getting a card that rewards you for online retail shopping may not exactly help you.

    With the SAFRA DBS card, if you’re shopping or spending using the card at any of the 6 SAFRA Clubhouses on the island, you stand to earn SAFRAPOINTS on top of any cash rebates you earn on the same transactions. Rewards on top of rewards? Sounds too good to be true, but it is. If you’re someone who visits SAFRA Clubhouses often, using this card on purchases there can help you get additional rewards.

    3. There’s a Minimum Spend Criterion and a Reward Cap to Think About

    The cash rebate of 3% that this card offers on specific transactions applies only if you spend at least S$500 on the card every month. This is something you need to think about before you apply. If you don’t spend this required amount every month, you will not get these rewards. So if you don’t think that your monthly spends will come up to S$500, this card may not be the one for you.

    In addition to this, you can earn only up to a maximum of SAFRA$50 each month. Beyond this limit, you will not earn any cash rebates no matter how much you spend. So if you feel that your monthly spends can earn you more than just S$50 (SAFRA$1 = S$1) worth of rewards, again, you’d probably be better off applying for another card.

    4. See if the Rewards and Benefits Cover the Card Costs

    The SAFRA DBS Card doesn’t charge you an annual fee for using it. However, the fees for your SAFRA membership will apply. See if the cash rebates and other benefits you get on the card make up for how much you have to pay every year for your SAFRA membership. If the benefits outweigh the costs, then getting the card may be beneficial to you. If not, it doesn’t make sense.

    Learn More About DBS Credit Card Promotion

    How Much Does the SAFRA DBS Card Cost?

    Now that you know about the various benefits and privileges you get with the SAFRA DBS Card, take a look at how much it will cost you:

    Annual fee for primary card Free
    Annual fee for supplementary card Free
    Interest rate on purchases 25.9% p.a. (26.8% p.a. from 12 December 2018)
    Interest rate on cash advance 28% p.a.
    Cash advance fee 6% of the withdrawn amount (minimum S$15)
    Overseas transaction fees 2.8% of the transaction amount
    Late payment fee S$100

    So do you think that this is a card worth applying for? You can apply for it if you’re a Singaporean or a Permanent Resident earning an annual income of at least S$30,000. You can check out our applications page to know more about your eligibility to apply for this card.

    Learn More About DBS Womans Mastercard Card

    Our Review: Is the SAFRA DBS Card Worth Applying for?

    From what we’ve seen so far, it’s evident that this credit card is a good choice if you make SAFRA transactions often. It also rewards you for online and contactless purchases, but however, it gives you only a 3% cash rebate. In addition to this, the monthly cash rebate you can accumulate is limited to SAFRA$50.

    All said and done, you can apply for the SAFRA DBS Card if you feel it will help you save money on a monthly basis. If your usual purchases don’t match with the benefits it offers, perhaps you should consider applying for a different credit card.

    All said and done, the SAFRA DBS Card is a useful option if you regularly access and shop at SAFRA Clubhouses since you get additional rewards for spends made there.

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