DBS Vantage ends 4 mpd bonuses on dining and petrol. What now?

In June 2022, DBS finally entered the $120K segment with the launch of the DBS Vantage Card. This was an altogether better product than what initially leaked in February, in no small part due to the addition of a bonus 4 mpd earn rate on dining and petrol, both local and overseas. 

The catch was that this was a promotional rate, and while there was hope that DBS might grant a last-minute extension, 1 January has come and gone with no joy. As it stands, DBS Vantage  Cardholders will earn a fixed 1.5/2.2 mpd on all local/overseas spend, period. 

Is the card still worth keeping, then?

DBS Vantage Card ends 4 mpd on dining and petrol transactions

Apply Here
Income Req.	S$120,000 p.a.	Points Validity	3 years
Annual Fee	S$594	Min. Transfer	5,000 DBS Points (10,000 miles)
Miles with Annual Fee	25,000	Transfer Partners	SIA Cathay Pacific Qantas Air Asia
FCY Fee	3.25%	Transfer Fee	S$27
Local Earn	1.5 mpd	Points Pool?	Yes
FCY Earn	2.2 mpd	Lounge Access?	Yes: 10x Priority Pass
Special Earn	N/A	Airport Limo?	No
Cardholder Terms and Conditions

Up till 31 December 2022, DBS Vantage Cardholders earned 4 mpd on local and overseas dining and petrol transactions, with a combined cap of S$2,000 per calendar month.

This promotion has lapsed, which means that cardholders now earn a standard 1.5 mpd on all local spending, and 2.2 mpd on FCY spending. There is no minimum spend required to trigger these rates, nor caps. 

For what it’s worth, these rates would put the DBS Vantage among the highest-earning cards in the $120K segment; the highest, actually, if you consider the fact it has no minimum spend requirement. 

$120K Cards by Earn Rates
Card	SGD	FCY
SCB VI	Up to 1.4 mpd*	Up to 3 mpd*
DBS Vantage	1.5 mpd	2.2 mpd
OCBC VOYAGE	1.3 mpd	2.2 mpd
HSBC VI	Up to 1.25 mpd^	Up to 2.25 mpd^
UOB VI Metal Card	1.4 mpd	2 mpd
Citi Prestige	1.3 mpd	2 mpd
Maybank VI	1.2 mpd	2 mpd
AMEX Plat. Reserve	0.69 mpd	0.69 mpd
*Min. S$2,000 spend per statement month, otherwise 1 mpd for both SGD and FCY ^Min S$50,000 spend in the previous membership year, otherwise 1 mpd (SGD) and 2 mpd (FCY)

The loss of 4 mpd on petrol and dining is no doubt disappointing, though it should be noted that DBS’s definition of dining wasn’t the widest to begin with. 

DBS only included MCC 5811 (Caterers), 5812 (Eating Places & Restaurants), and 5813 (Drinking Places), excluding MCC 5814 (Fast Food), MCC 5462 (Bakeries), MCC 5451 (Dairy Products Stores) and some other MCCs used by eateries. This tended to create a fair bit of anxiety amongst DBS Vantage Cardholders (who, I assume, hadn’t read this article).

Is it worth keeping?

The DBS Vantage Card’s annual fee for the 2023/24 membership year will increase from S$588.50 to S$594, thanks to the GST hike. The first year’s fee must be paid, but subsequent years’ fees can be waived if cardholders spend at least S$60,000 per membership year. 

DBS Vantage Cardholders continue to receive:

• Accor Plus membership with 1 complimentary hotel night
• 10x Priority Pass lounge visits
• 25,000 miles per membership year (unless annual fee is waived)
• DiningCity discounts (which are really underwhelming, mentioned more for completeness’ sake)

Would I pay S$594 for that? Personally, no. I already enjoy Accor Plus thanks to my AMEX HighFlyer Card (which, I’ve discovered, does offer annual fee waivers on a case-by-case basis), unlimited lounge access from my AMEX Platinum Charge, and I daresay I’m well-stocked in the miles department. 

But everyone’s situation will be different, and given that the Accor Plus membership has a retail value of S$408, and 25,000 miles are worth about S$375, there’s certainly ways for cardholders to earn back their fee and then some.

Alternative cards to use for dining

If you’re looking for alternative cards to use for dining, my picks would be the HSBC Revolution or UOB Lady’s Card/Lady’s Solitaire. These earn 4 mpd on dining transactions, subject to the caps and restrictions below.

🍽️ Best Cards to use for Dining
Card	Earn Rate	Remarks
HSBC Revolution Apply	4 mpd	Max S$1K per c. month. Must use contactless Review
UOB Lady’s Card Apply	4 mpd	Max S$1K per c. month. Must choose dining as 10X category. Review
UOB Lady’s Solitaire Apply	4 mpd	Max S$3K per c. month. Must choose dining as 10X category. Review
C. Month= Calendar Month, S. Month= Statement Month

As always, be on the lookout for opportunities to stack cards with Kris+ for bonus miles!

Alternative cards to use for petrol

If you’re looking for alternative cards to use for petrol, my picks would be the Maybank World Mastercard, UOB Lady’s Card/Lady’s Solitaire, or UOB Visa Signature. These earn 4 mpd on petrol transactions, subject to the caps and restrictions below.

Card	Earn Rate	Remarks
Maybank World Mastercard Apply	4 mpd	No cap
UOB Lady’s Card Apply	4 mpd	Max S$1K per c. month. Must choose transport as 10X category Review
UOB Lady’s Solitaire Apply	4 mpd	Max S$3K per c. month. Must choose transport as 10X category Review
UOB Visa Signature Apply	4 mpd	S$1K-2K on petrol + contactless per s. month. Ex. SPC, Shell Review
C. Month= Calendar Month, S. Month= Statement Month

DBS Vantage sign-up bonus

If the loss of the 4 mpd earn rate hasn’t deterred you, DBS has extended its sign-up bonus on the DBS Vantage Card till 31 January 2023. 

New-to-bank cardholders who spend S$8,000 within 60 days of approval and pay the first year’s annual fee will receive the following:

You must enter the promo code VANMILES when applying. No code, no bonus! The promo code field can be found towards the bottom of the application page, under the “DBS Marketing & Promotions Materials” section. 

The 25,000 miles for paying the annual fee will be awarded immediately (in the form of 12,500 DBS Points) when the annual fee is charged. This happens at the time of card approval.

The 35,000 miles for the sign-up bonus will be credited within 120-150 days (in the form of 17,500 DBS Points) from the date of fulfilling the qualifying spend. 

T&Cs for the sign up offer can be found here.

Conclusion

DBS Vantage Cardholders no longer enjoy 4 mpd on dining and petrol transactions, effective 1 January 2023. In the cold light of day, I’d still consider the regular Vantage earn rates to be competitive enough, though it’s certainly harder to make the case for the card now than at launch. 

Between this and the OCBC VOYAGE’s upcoming limo benefit nerf, 2023 has been short on good news for $120K cardholders so far. Any bank want to step up and buck the trend?