DBS Woman’s Cards offering $120 cashback for new-to-bank customers

Don't already have a DBS Woman's card? Start earning 4 mpd online, and get $120 cashback in the process.

The gender-neutral DBS Woman’s Cards (open to both men and women) are one of the best options for online transactions in Singapore. You can earn up to 4 mpd on the first $2,000 of online spending each month, be it airfares, shopping, groceries, movie tickets or food delivery.

DBS Woman’s CardDBS Woman’s World Card
Income Requirement$30K$80K (but not strict)
Annual Fee$160.50 (first year free)$192.60 (first year free)
Online Spending2 mpd, capped at $1K per month4 mpd, capped at $2K per month
Foreign Currency Spending0.4 mpd1.2 mpd
Other spending0.4 mpd0.4 mpd

Historically speaking, DBS hasn’t offered much in the way of sign up bonuses on these cards. However, from now till 31 March 2020, new-to-bank applicants who apply online and spend $800 within 60 days of approval will get $120 cashback.

DBS defines new-to-bank as someone who does not currently hold any DBS/POSB credit cards, and has not in the 12 month period before 1 October 2019

The $120 cashback will be credited to your card account within 120 days from card approval date, if the spending criteria is met. Qualifying spend excludes the usual suspects like education, government, insurance, non-profit and gambling transactions. Supplementary cardholder spending will be combined with principal cardholder spending in determining whether the spending criteria has been met.

The full T&C of this offer can be found here.

Which sign up bonus should I take?

Some of you may recall that the DBS Altitude is currently running a sign up bonus as well. From now till 31 January 2020, new-to-bank customers who spend $6,000 within 3 months of approval will get 10,000 bonus miles.

Since your “new-to-bank” status is only valid for one of these offers, the natural question is which one you should take.

New-to-bank offersDBS Altitude DBS Woman’s World Card
Time Period3 months60 days
Reward10,000 miles$120 cashback
Value of Reward~$180 (based on KrisFlyer mile valuation)$120
Effective Rebate3%15%

Based on the maths, it’s clearly a better idea to take the Woman’s Card offer- you have a lower spending requirement and a higher effective rebate. The caveat is that you’ll want to make sure all your $800 spending is online, so as to max out the miles earned. If you have an upcoming airfare booking or big ticket Black Friday purchase, this shouldn’t be an issue.

But keep in mind that it’s not entirely an either/or proposition- DBS Altitude is offering a smaller sign up bonus for existing customers.

Existing customer offerDBS Altitude 
Reward5,000 miles
Value of Reward~$90 (based on KrisFlyer mile valuation)
Effective Rebate1.5%

What you might do is sign up for the DBS Woman’s World Card, spend $800 and get $120 cashback, then spend a further $6,000 on the DBS Altitude as an existing customer to get a bonus 5,000 miles.

However, this only really makes sense if other sign up bonuses are out of reach to you, because that same $6,000 spending could yield:

See the full list of current credit card sign up bonuses here


If you’ve got new-to-bank status with DBS and don’t already have a Woman’s card, you’ll definitely want to give this one a look. With the sheer number of online transactions most of us do in a month, it just makes sense to have a specialized spending card for this category.

(HT: Adam)

Aaron Wong
Aaron founded The Milelion to help people travel better for less and impress chiobu. He was 50% successful.

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