Highest-ever $300 cashback with a new DBS credit card and one transaction

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DBS is once again hiking its regular ‘flash deal’ cashback sign-up offer for new-to-bank credit card customers applying for one of its cards, with a S$300 cashback deal starting on Monday and running for three weeks, unlocked by simply activating your new card and making one transaction.

This is a nice increase on the bank’s S$250 cashback promotion earlier this month, and is the highest cashback sign-up bonus deal we’ve seen DBS offer.

There’s no minimum spend required, so this could potentially be a great opportunity to add one of our recommended miles-earning options to your wallet, like the Woman’s World or Altitude cards.

The offer starts on Monday 21st December 2020 and you’ll then have three weeks to apply using the promo code.

Eligibility

To be eligible, you’ll need to be new to DBS/POSB credit cards, which means currently not holding any principal DBS/POSB credit card and/or having not cancelled any DBS/POSB credit card(s) within the last 12 months.

If you are a supplementary DBS/POSB cardholder but not a primary cardholder on any such account, you’ll also be eligible as a new customer.

The offer

You’ll earn S$300 cashback when you apply online for a DBS/POSB credit card using promo code ‘FLASH300’– with no minimum spend required, just a single qualifying transaction.

Applicable cards are:

DBS Altitude Visa APPLY	DBS Altitude Amex APPLY
DBS Woman’s APPLY	DBS Woman’s World APPLY
DBS Live Fresh APPLY	POSB Everyday APPLY

Here’s how it works:

• Apply online for one of the credit cards listed above with promo code ‘FLASH300’ between 21st December 2020 and 10th January 2021. Your card account must be approved by 17th January 2021.
• Activate the card within 30 days of your approval date.
• Charge one qualifying transaction on the card within 30 days of your approval date.

The qualifying transaction must be made by the primary cardholder, not a supplementary cardholder. It can be online or in-person and can be charged in SGD or foreign currency.

The S$300 cashback will then be credited to your card account within 120 days (4 months) of the date of card approval, so for example if your card is approved 1st January 2021 and you complete the steps correctly, the cashback will be credited by 1st May 2021.

Your card account must remain open and in good standing when the cashback is credited.

Excluded transactions

You only have to make one transaction to qualify for this offer, so make sure it’s eligible especially if that’s the only spend you intend to make during the first 30 days.

Here’s a list of excluded spend categories:

DBS Spend exclusion categories posted 0% Interest Instalment Payment Plan monthly transactions posted My Preferred Payment Plan monthly transactions interest, finance charges, cash withdrawal, balance transfer, smart cash, AXS payments, SAM online bill payments, bill payments via internet banking and all fees charged by DBS payments to educational institutions payments to financial institutions (including banks, online trading platforms and brokerages) payments to government institutions and services (court cases, fines, bail and bonds, tax payment, postal services, parking lots and garages, intra-government purchases and any other government services not classified here) payments to hospitals payments to insurance companies (sales, underwriting and premiums) payments to non-profit organisations payments to utility bill companies payments to professional service providers (including but not limited to accounting, auditing, bookkeeping services, advertising services, funeral service and legal services and attorneys) any top-ups or payment of funds to payment service providers, prepaid cards, any prepaid accounts or purchase of prepaid cards/credits (including but not limited to EZ-Link, GrabPay, NETS FlashPay and Singtel Dash) any betting transactions (including levy payments to local casinos, lottery tickets, casino gaming chips, off-track betting and wagers) any transactions related to crypto currencies payments made to CardUp, FavePay, iPaymy and SmoovPay are also subject to the exclusions listed above any transaction with transaction description “AMAZE*” any other transactions determined by DBS from time to time

DBS Altitude cards

One of the most popular general spend cards among our readers in the DBS lineup is the bank’s Altitude cards.

There’s still a 10,000 miles sign-up bonus running for these until 31st January 2021, with a cashback alternative of S$150 (Visa) or S$200 (Amex) for a spend of S$800 in the first 30 days.

This new deal is a much better way to qualify for a higher cashback element, which is hiked by S$150 for the Visa card and S$100 for the Amex. Here’s how it looks alongside the bonus miles options:

Bonus Miles		Cashback
Promo Code: DBSALT	Promo Code: ALTAF	Promo Code: FLASH300
↓	↓	↓
Spend: S$6k in 90 days		Spend: Once in 30 days
Fee waiver	Annual Fee: S$192.60	Fee waiver
↓	↓	↓
Bonus Miles: 10,000 Cashback: S$0	Bonus Miles: 20,000 Cashback: S$0	Bonus Miles: 0 Cashback: S$300

S$300 cashback is definitely a better deal than 10,000 bonus miles (which we value at around S$190), and with no minimum spend requirement this could be a good time to take the plunge with one of these cards if you don’t currently hold a DBS/POSB credit card and haven’t done for the last 12 months.

For further details see the DBS Altitude promotion page.

You can also check out our full review of the card for all the details on its features.

DBS WWMC

The other great DBS credit card to have in your wallet (or actually, on your desk at home) for miles earners is the Woman’s World Mastercard (WWMC), which earns 4 miles per dollar for the first S$2,000 in monthly online transactions.

The best part? Men can apply too!

Check out the product promotion page and our recent review for full details.

Terms and conditions

Here are the full terms and conditions applicable to this sign-up offer.

 DBS December Sign Up Flash Deal T&C

Further details are available at the promotion page.

Summary

We don’t usually write much about cashback offers but this one is very generous for those of you who don’t yet have a DBS credit card. S$300 cashback is much better than a 10,000 miles sign-up bonus in our book, and with no minimum spend, just one single transaction in the first 30 days, it’s a no-brainer to go for this option even for cards offering an alternative miles sign-up bonus.

Remember you must use the promo code FLASH300 when applying to be eligible for this cashback offer, between Monday 21st December 2020 and Sunday 10th January 2021.

If you’re already a DBS credit card customer, check whether any of your supplementary cardholders are eligible. If they don’t have a primary card of their own, and haven’t for the last 12 months, they might want to take advantage now.

(Cover Photo: Shutterstock)