The DBS Vantage Card has been offering a sign-up bonus for both new and existing customers ever since it launched at the end of June.
The initial offer of 80,000/60,000 miles ran for just five days, before it was replaced by a reduced offer of 60,000/40,000 miles. That has since become the “business-as-usual” deal and extended numerous times, most recently all the way till 31 January 2023.
But something odd is afoot. While DBS initially extended its offers for both new and existing customers, it’s subsequently removed the existing customer offer from its landing page and T&Cs, without any notice.
I’m in the midst of trying to find out from DBS what this means for existing customers who have already signed up, but in the meantime, you should take it as if there’s no longer any offer for this group.
|DBS has clarified that existing customers who apply from 1 October 2022 onwards will not be eligible for a sign-up bonus, beyond the 25,000 miles awarded for paying the first year’s annual fee.|
DBS Vantage removes existing customer sign-up bonus
On 1 October 2022, DBS extended its ongoing set of sign-up bonuses for new and existing DBS Vantage cardholders. Customers who applied by 31 January 2023 would receive the following upon paying the S$588.50 annual fee and spending S$8,000 within 60 days of approval.
|Pay S$588.50 annual fee||25,000 miles||25,000 miles|
|Spend S$8,000 within 60 days||35,000 miles||15,000 miles|
|Total||60,000 miles||40,000 miles|
|Must apply with promo code VANMILES|
|❓ “New” Definition|
|New cardmembers are defined as customers who are currently not holding on to any Principal DBS/POSB Credit Card and have not cancelled any Principal DBS/POSB Credit Card within the last 12 months.|
At some point in the past few days or weeks, however, DBS removed all references to the 40,000 miles sign-up bonus for existing customers. The table on its landing page now references only a 60,000 miles offer, exclusively for new-to-bank customers.
I am 100% certain the existing customer offer was there on 1 October, so the question is: what happens to existing customers who signed up between 1 October till whenever the existing customer offer was nerfed? I assume DBS will honour the terms as they existed at the time of application, but changing the promotion halfway is messy, to say the least.
If you’re an existing customer who happened to apply during this period, sit tight. I’ve dropped DBS’s public relations team a message, and will update this article as soon as I hear back.
Taking a step back: it’s a bit odd that DBS has chosen this approach for the Vantage. What we typically see with other $120K cards like the OCBC VOYAGE or Citi Prestige is that sign-up bonuses are offered to all customers, except those who have cancelled the same card in the past 12 months. In other words, holding an existing OCBC/Citibank card does not, in and of itself, disqualify you from the bonus.
That makes a lot more sense to me, since we’re dealing with a high-end card that has a non-waivable annual fee.
Overview: DBS Vantage Card
|Income Req.||S$120,000 p.a.||Points Validity||3 years|
|Annual Fee||S$588.50||Min. |
|5,000 DBS Points|
|Miles with |
|FCY Fee||3.25%||Transfer Fee||S$26.75|
|Local Earn||1.5 mpd||Points Pool?||Yes|
|FCY Earn||2.2 mpd||Lounge Access?||Yes: 10x Priority Pass|
|Special Earn||4.0 mpd on dining & petrol (till 31 Dec 22)||Airport Limo?||No|
|Cardholder Terms and Conditions|
The DBS Vantage has an annual fee of S$588.50, which includes:
- 25,000 bonus miles per year
- 10x complimentary Priority Pass visits
- Accor Plus membership with up to 50% off dining and one complimentary hotel night
- 15-50% off dining through DiningCity
Cardholders earn 1.5 mpd on all local spend, and 2.2 mpd on foreign currency spend. From now till 31 December 2022, they will also earn 4 mpd on local and overseas dining and petrol, capped at S$2,000 per calendar month.
|🍽️ Dining||⛽ Petrol|
DBS Points earned on the DBS Vantage expire in three years, and can be converted to any of the following frequent flyer programmes with a S$26.75 admin fee.
|Frequent Flyer Programme||Conversion Ratio |
(DBS Points: Miles)
For a full card review, refer to the article below.
The DBS Vantage appears to have pulled its sign-up offer for existing customers prematurely, leaving only the 60,000 miles offer for new customers. That’s a shame (particularly the way in which it was carried out), although it also suggests that the take-up of the card has been stronger than expected.
I’ll update this article when I hear back from DBS regarding existing customers who signed up previously.