Tag Archives: credit card

If you’re on the old DBS frequent flyer transfer scheme, beware…

Back in November 2016, DBS changed the way it charged for miles conversions from an annual fee of $42.80 with unlimited conversions to a per conversion fee of $26.75.

Cardmembers who had already paid the annual fee would be on the “old” scheme until their membership year was up. That is to say, if you paid your $42.80 on October 10 2016, you would have unlimited transactions until October 9 2017, after which you’d pay per conversion.

Download (PDF, 198KB)

In the FAQ that was provided with the program change, DBS clearly states under point 6) that-

I had not received anything from DBS, so I proceeded to do a transaction in early April to move some miles to Krisflyer.

On examining my ibanking statement, however, I saw that I had been hit with a $26.75 conversion fee. So I called DBS customer service to ask about it.

They told me that my annual membership expired end March and therefore I was on the new scheme. I reminded her about their FAQs which stated that customers would get a heads up via eDM or SMS.

Her response was that although she could see in their SMS outbox that I had not been sent anything, it was not practice for them to send out alerts about the impending expiry of your annual transfer fee.

They were not able to locate this FAQ on their side, so I’ve since sent this PDF to their customer service team for escalation, in expectation that they will refund me the fee. I will update you when this is resolved.

But in the meantime, if you are part of the old annual scheme you might want to take note that alerts are not going out. So be vigilant, check your account and let DBS know if you are charged without notice.

The ANZ Travel Visa Signature is dying a slow and undignified death

I received an SMS from ANZ informing me that the ANZ Travel Visa Signature Card T&Cs had been updated with effect from 1 April 2017.

Image result for visa signature travel anz

I’m sure this is a good thing! I said to myself as I clicked on the link. After all, SMSes have always brought me good news, useless PDPA act notwithstanding-

Please be informed that with effect from 1 April 2017,

– Complimentary airport limousine and lounge access for ANZ Signature Priority Banking Visa Infinite Card and Travel Visa Signature Card will cease.

– There will be revisions to the ANZ Travel Card Rewards Programme Terms & Conditions:

Additional  bonus 10,000 Travel$ will no longer be awarded to ANZ Travel Cardmembers who pay Annual Fee from the 2nd year of membership.

The revised T&C can be found here

When the ANZ Travel Visa Signature card launched back in July 2012, it was something genuinely novel. It offered 1.4 mpd on local spending with no minimum spend required, 12,000 miles upon payment of the $200 annual fee, 2.8mpd on overseas spending, unlimited lounge access and limo transfer with a $1,500 spend.

Then they started chipping away at the benefits.

First, the 2.8mpd on all overseas spend was replaced by 2.8mpd on spend in Australia and NZ only. Then, the renewal miles went from 12,000 to 10,000. Then, unlimited lounge access was taken away and the limo service minimum spend went up to $2,500, then required you to redeem Travel$, then disappeared (it was brought back for a limited period but needed S$7,000 spend per calendar quarter)

This card has died the death of a thousand cuts. Given that you can’t even use it to buy miles at 2 cents each anymore, I can’t think of any reason to hold on to it. I’ve said that you should never pay annual fees unless you get something in return and there’s no reason an exception should be made for this card.

Final point: The Milelion has some affiliate links for the ANZ Travel card. In light of these changes, I cannot in good conscience recommend the card to anyone. These links will be removed.

Given ANZ’s impending demise in Singapore, it might be a good idea to look for a way to cash out on your Travel$ asap.

Alas ANZ Travel card, we barely knew ye!

DBS Altitude Visa double miles promotion

From 1 March to 31 July 2017, DBS Altitude is running a promotion on their Visa Signature card for members who register via this link. Cardmembers can earn up to 6 mpd, depending on the category they spend in.

Here’s how it works- recall that the base earning rates for the DBS Altitude Visa are 1.2/2/3 mpd for local/overseas/online hotel and flight bookings respectively.

If you spend a minimum of S$2,500 per calendar month, you’ll enjoy 2.4/4/6 mpd on the $2,501-$5,000th dollar of spend. Any spend fro mthe $5,001th dollar on earns the regular 1.2/2/3 mpd.

In reality your actual mpd will be something less than the 2.4/4/6 promised because your $1-$2,500 will be earning the regular 1.2/2/3 mpd rates.

6 mpd sounds like a a fantastic earning rate for online hotel and flight spending- it’s above the HSBC 4 mpd rate (which may very well disappear come 31 March). But when you do the math, you come out only marginally higher. Suppose you were buying a $5K flight ticket- your effective rate is 4.5mpd because of the first $2.5K of spend earning 3 mpd. If you don’t have a HSBC Advance card then of course it’s a fantastic deal though. Full T&C here.

A reminder that if you do not yet own a DBS Altitude Visa card you can get a 10,000 mile sign up bonus (or 15,000 miles if you’re new to DBS credit cards altogether) when you charge a minimum of $1,000 a month for the first 2 months after getting your card. This is valid for sign ups till 31 March.