DBS has a range of cards that cater to their diverse consumer base and offers DBS credit cards such as family credit cards, shopping credit cards, travel credit cards, etc. For students and employees just starting off with their career, DBS offers the DBS Live Fresh Student card which earns reward points on your purchases.
DBS charges an interest rate of 25.90% p.a. for its student credit card, with a minimum interest rate amounting to S$2.50 being charged. The interest rates are applicable only when the outstanding payments have not been paid in full. The card requires a minimum payment of 3% of the outstanding balance or S$50. If the outstanding balance is lower than S$50, then that amount needs to be paid.
When you fail to make a minimum payment on time, you will be charged a penalty interest rate of 3% in addition to the prevailing interest rate. This interest rate is applicable from the day after the statement due date. The prevailing rate of interest will be reinstated when you pay the outstanding minimum payment on or before the next statement due date. This will take effect on the day after the next statement due date.
|Product/Item||Fees and charges|
|DBS Live Fresh Card||Principal card - S$128.40 inclusive of GST. The annual fee is waived for the first 5 years.|
|Interest charges||Interest charged on card transactions is 25.90% p.a. with a minimum charge levied of S$2.50 being levied.|
|Cash advance fee||Fee is the higher of either 6% of the amount withdrawn or S$15.|
|Interest on cash advance||Interest charged on card transactions is 28% p.a. with a minimum charge levied of S$2.50 being levied.|
|Late payment fee||The late payment fee charged is S$100 when the outstanding due on the credit card is S$50.01 or more. For outstanding balances of S$50 or below, no late payment fee is charged.|
|Minimum monthly due||Minimum payment is 3% of the outstanding amount or S$50, whichever of the two is higher.|
|Lost or stolen card liability||A maximum fee of S$100 is charged.|
Tertiary students must submit the following documents to apply for this credit card:
Working adults must submit the following documents to apply for this credit card:
Supplementary credit card applicants are required to provide a copy of their NRIC, both front and back or a copy of their valid Passport.
You can apply for a DBS Student Credit Card online by visiting the bank’s official website, navigating to the respective card’s web page. Here you will find the option to “Apply Now”. Clicking on this button will direct you to the next step which will require you to fill in certain fields of information to begin the application process. You can also apply for the card online by using your DBS iBanking login credentials. Alternatively you can visit your nearest DBS branch and request for credit card application.
You can cancel your DBS student credit card either by writing in to DBS at “DBS Cards, Orchard Road, P.O. Box 360, Singapore 912312” with the reason for cancellation. You are advised to cut up the credit card when the cancellation has been confirmed. You can also use the iBanking Messages function to cancel your credit card. Upon logging in, you can compose a message by clicking on the ‘Messages’ option on the top right, You will then have to set ‘Credit Cards’ as the Topic and ‘Cancel Card’ as the subject, Key-in your 6-digit iB secure PIN and mention your card number along with the reason for cancelling the card. You will still have to pay any outstanding balances on the card even after cancellation until it has been fully paid off.