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    DBS/POSB Grocery Credit Cards

    Credit Card BYTES FROM OUR KITCHEN

    DBS/POSB Grocery Credit Cards in Singapore

    DBS offers various credit cards that can earn you rebates, miles and DBS Points. Here are the grocery credit cards offered by DBS:

    DBS/POSB Grocery Promotions

    The following promotions are applicable on the DBS Black Card:

    • Bangkok Jam – Spend a minimum amount of S$50 and enjoy a discount of 10% on your total bill. This promotion is valid until 31 December 2017.
    • Bornga - Enjoy a discount of 10% on your total bill. This promotion is valid until 31 December 2017.
    • Asiatravel – Enjoy an additional discount of 15% on your hotel bookings and S$60 on your flight bookings. This promotion is valid until 31 December 2017.
    • Expedia – Enjoy a discount of 10% on eligible hotel bookings. Use promo code, “DBSEXPHOL” when checking out. This sale period is valid until 31 January 2019 and the travel period is valid until 31 April 2019.
    • Alive + Olivia – Spend at least S$1,000 nett on non-discounted products and enjoy a discount of 10%. This promotion is valid until 30 September 2017.
    • Benjamin Barker – Enjoy a storewide discount of 10%. This promotion is valid until 31 August 2017.
    • Atlantic Optical – Enjoy a discount of 20% on non-discounted sunglasses and frames. This promotion is valid until 31 August 2017.

    Features and Benefits of DBS/POSB Grocery Credit Cards

    • DBS Black Cards - Enjoy 5% cashback on DBS Black Visa Card and DBS Black American Express Cards when shopping at grocery stores and departmental stores.
    • POSB Everyday Card - Earn 5% cash rebate on your grocery purchases at Sheng Siong. You will earn cash rebate on spends up to S$1,000 every month.

    Interest Rates on DBS/POSB Grocery Credit Cards

    If you make full payments on your credit card outstanding balances, no finance charges will be applied on your account. However, if you do not pay your outstanding balances in full, an interest rate of 25.90% p.a. will be applicable on all your transactions. This interest rate will compound on a daily basis from your transaction date if you do not make timely payments on your statement balance.

    The minimum interest charged is S$2.50. If you do not pay your minimum due by the statement due date, an additional interest rate of 3% will be added to your existing credit card interest rate (25.90%) which will be in effect starting from the day after your next credit card statement date. Your prevailing interest rate will be reinstated if you make the minimum payment in full before your next payment is due.

    Fees and Charges on DBS/POSB Grocery Credit Cards

    Product/Item Fees and charges
    DBS Black Card annual fees

      • Principal card - S$192.60 (First year fee waived).

      • Supplementary card - 96.30 (First year fee waived).

    POSB Everyday Card

      • Principal card - S$192.60 (First year fee waived).

      • Supplementary card - 96.30 (First year fee waived).

    Interest charges 25.90% p.a. with a minimum charge of S$2.50.
    Cash advance fee 6% of the withdrawn amount with a minimum charge of S$15.
    Interest on cash advance 28% p.a. with a minimum charge of S$2.50.
    Late payment fee

      • If outstanding balance is S$50 and below: S$0

      • If outstanding balance is above S$50: S$100

    Minimum monthly due S$50 or 3% of the outstanding balance, depending on whichever of the two is higher.
    Lost or stolen card liability Maximum S$100

    Eligibility Criteria for DBS/POSB Grocery Credit Cards

    • Nationality criterion – Singapore citizens, Permanent Residents and foreigners are eligible to apply for DBS grocery credit cards.
    • Age criterion:
      • Minimum age for principal cardholders - 21 years.
      • Minimum age for supplementary cardholders - 18 years.
    • Income criterion:
      • Singapore citizens and Permanent Residents must earn at least S$30,000 per year.
      • Foreigners must earn at least S$45,000 per year.

    Documents Required for DBS/POSB Grocery Credit Cards

    The following documents must be submitted to complete your application process:

    Singapore citizens and Permanent Residents must submit the following documents:

    Salaried employees must submit:

    • A front and back copy of NRIC AND
    • CPF Contribution History for the last 12 months AND
    • Income Tax NOA (Notice of Assessment) for the last 1 year OR
    • Computerised payslips for the last 3 months OR
    • Salary crediting into a DBS or POSB personal account.

    Self-employed must submit:

    • A front and back copy of NRIC AND
    • Income Tax NOA (Notice of Assessment) for the last 2 years.

    Variable or commission-based employees must submit:

    • A front and back copy of NRIC AND
    • CPF Contribution History for the last 12 months OR
    • Income Tax NOA (Notice of Assessment) for the last 2 years.

    Foreigners must submit the following documents

    If you have been working in Singapore for less than 3 months:

    • Your Passport copy with a minimum validity period of 6 months AND
    • Your Employment Pass with a minimum validity period of 6 months AND
    • Most recent Income Tax NOA (Notice of Assessment), if applicable or most recent computerised payslip or your salary crediting into a DBS or POSB account in Singapore Dollars OR
    • A letter from your company verifying your employment and salary in Singapore Dollars. The letter should not be older than 3 months from your credit card application date.

    If you have been working in Singapore for 3 months or more:

    • Your Passport copy with a minimum validity period of 6 months AND
    • Your Employment Pass with a minimum validity period of 6 months AND
    • Most recent Income Tax NOA (Notice of Assessment), if applicable or most recent computerised payslip or your salary crediting into a DBS or POSB account in Singapore Dollars.

    Supplementary credit card applicants must submit the following documents:

    • A front and back copy of NRIC OR
    • A valid Passport.

    How to apply for a DBS/POSB Grocery Credit Card

    You can apply for a DBS Grocery Credit Card online through the following ways:

    • Using your iBanking Login.
    • Using your card and PIN.
    • Submitting a direct credit card application online.

    If you wish to make an online application, then visit DBS Bank’s official website and navigate to the respective credit card webpage for which you would like to submit an application. On the webpage, click on the option, “Apply Now” and follow the steps to successfully submit your application.

    How to cancel a DBS/POSB Grocery Credit Card

    You can cancel your DBS credit card using the iBanking Messages function by following the simple steps below:

    • Use your User ID and PIN to login.
    • Select the option, “Messages” on the top right and click on, “Compose”.
    • Key-in your 6-digit iB secure PIN.
    • Select the topic as “Credit Cards and subject as “Cancel Card”.
    • Select your credit card number which you wish to cancel.
    • Select a reason for your cancellation and then click on, “Submit”.

    Alternatively, you can also your credit card by writing to the bank. You will have to provide your credit card number and your signature. There is no requirement to provide a reason for your cancellation.

    Mail the letter to the bank at the following address:

    “DBS Cards Orchard Road P.O. Box 360 Singapore 912312”

    The bank advises you to immediately cut the card into 2 halves and dispose it.

    Note the following:

    • Once you cancel a principal card, the supplementary card will also be cancelled automatically.
    • If you have any outstanding balance on your credit card, you will continue to receive monthly statements on your cards until the outstanding balance has been fully repaid.
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