DBS yuu Card: The most excited I’ve ever been about a cashback card

Heaven help me- for the next five months or so, I'm switching to cashback for groceries.

There might be some out there who picture me as having an ideological objection to cashback, either due to my rhetoric on the matter or showdowns with Budget Babe (which I should point out, for the benefit of those who think pro wrestling is real, is somewhat hammed up for the camera).

But I don’t think that’s a completely fair assessment. I’m not so much anti-cashback as I’m pro-best deal, and from where I sit, miles have almost always offered the better option. 

Until now, that is. 

While this isn’t quite the Road to Damascus, from now till end September I’m firmly on Team Cashback, at least where grocery spend is concerned. And that’s all because of the new-and-improved DBS yuu Card. 

Maxing out rebates with the DBS yuu Card

DBS yuu Card
Apply (AMEX)
Apply (Visa)
 Earn RateRemarks
Non-yuu merchants1 pt/S$1
(0.5% rebate)
No min. spend or cap
yuu merchants
(regular)
10 pts/S$1
(5% rebate)
yuu merchants
(till 30 Sep 2023)
36 pts/S$1
(18% rebate)
Min. S$600 spend per calendar month. Bonus 26 pts/S$1 capped at S$600 per calendar month
❓ Crediting timelines

Of the 36 points per S$1 at yuu merchants:

  • 10 base points will be credited when the transaction posts
  • 26 bonus points will be credited within 60 days after the end of each calendar month

Once you’re done gasping in collective shock, hear me out: the DBS yuu Card received a major buff earlier this month, replacing its convoluted earning system with an elegantly simple 18% rebate on all yuu merchants.

This comprises of:

  • A base 10 points per S$1 spent (equivalent to 5% rebate, no min. spend, no cap)
  • A bonus 26 points per S$1 spent (equivalent to 13% rebate, min. S$600 spend, cap S$600 spend)

The bonus component is valid till 30 September 2023.

❓ yuu Merchants
GroupMerchants
🛒 DFI Retail Group (DFI)
  • 7-Eleven
  • Cold Storage
  • CS Fresh
  • Giant
  • Guardian
🍞 BreadTalk Group (BTG)
  • BreadTalk
  • Butter Bean
  • Food Junction*
  • Food Republic*
  • Toast Box
  • Thye Moh Chan
🐘 Mandai Wildlife Group
  • Bird Paradise
  • Night Safari
  • River Wonders
  • Singapore Zoo
📱 Singtel
  • Singtel Shop
  • Singtel Exclusive Retailers
*Selected outlets only

To sweeten the deal even further, from now till 26 April 2023 DBS is running a rarely-seen sign-up offer for existing cardholders, which gives S$80 cashback with a minimum spend of S$350 within 30 days (if you’re a new cardholder, the offer becomes S$300 cashback).

TypeGiftMin. Spend
New cardholderS$300 cashbackS$350 within 30 days
Existing cardholder$80 cashback
Apply with promo code  YUUFLASH  (offer ends 26 Apr 23)
New DBS/POSB cardholders are defined as those who do not currently hold a principal DBS/POSB card, and have not cancelled one in the past 12 months

So here’s my plan. 

The minimum spend isn’t a meaningful hurdle for me, because I can clock S$600 on groceries every month without stockpiling my pantry a la March 2020. Therefore, I’ll be using the DBS yuu Card exclusively for this category till 30 September 2023:

MonthSpendRebate
Apr 2023S$600S$188
(S$108 in yuu points + S$80 sign-up bonus)
May 2023S$600S$108
Jun 2023S$600S$108
Jul 2023S$600S$108
Aug 2023S$600S$108
Sep 2023S$600S$108
TotalS$3,600S$728

If I stick to the plan above, I’m looking at S$728 back on S$3,600 of spending, an effective rebate of 20%. 

How does that compare to the miles route? Well, here’s the best miles cards to use for groceries:

CardEarn RateRemarks
UOB Lady’s Card
Apply
6 mpdMax S$1K per c. month. Must choose “family” as 10X category.
Review
UOB Lady’s Solitaire
Apply
6 mpdMax S$3K per c. month. Must choose “family” as 10X category.
Review
HSBC Revolution
Apply
4 mpdMax S$1K per c. month
Review
UOB Pref. Plat. Visa
Apply
4 mpd*Max S$1.1K per c. month, must use mobile payments
Review
UOB Visa Signature 
Apply
4 mpd^S$1K-2K per s. month on contactless & petrol
Review
*No miles at UOB$ merchants like Cold Storage and Giant
^3.6 mpd at UOB$ merchants like Cold Storage and Giant
C. month = Calendar Month | S. month = Statement Month

If I’m using a UOB Lady’s Card, my value per mile would need to be at least 3 cents for 6 mpd to trump 18% rebates.

If I’m using a HSBC Revolution Card, my value per mile would need to be at least 4.5 cents for 4 mpd to trump 18% rebates.

Since my value per mile is about 1.5 cents, it makes more sense to switch to yuu until the end of September. And should my groceries bill be above S$600, there’s nothing stopping me from using my miles cards to cover the additional. 

Keep in mind, it doesn’t have to be pure groceries. Giant also sells household appliances like rice cookers, kettles, refrigerators, washing machines, Smart TVs, soundbars etc. And if that still doesn’t do it for you, you could buy health supplements and other medications at Guardian, or a new phone at Singtel (or even pay your Singtel phone bill, per this data point).

Do note the following exclusions, in particular DFI vouchers (e.g. Cold Storage vouchers). DBS/yuu presumably has access to level 3 data, which means they know exactly what you’re buying at yuu merchants.

GroupExclusions
🛒 DFI Retail Group (DFI)
  • Plastic bags
  • Tobacco and cigarettes
  • All services including mobile and EZ-Link reload
  • Purchase of cash-like items such as mobile sim card top-up vouchers
  • All lottery products, bill payments, top-up services and Qoo10 online shopping payment, statutory services and products
  • DFI vouchers, newspapers, magazines
  • Gift cards and vouchers purchases
  • Delivery charges
  • Purchases made at Changi Airport stores
  • Pre-mature and Stage 1 infant milk formula
🍞 BreadTalk Group (BTG)
  • Gift cards
  • Dining vouchers
  • Food delivery apps
  • BTG app & store value card
🐘 Mandai Wildlife Group
  • Animal feeding
  • Friends of Wildlife membership
  • Signature tours

The full list of exclusions can be found in the T&Cs. 

Conclusion

DBS yuu Card
Apply (AMEX)
Apply (Visa)

The DBS yuu Card wasn’t on my bingo list for 2023, but I know a good thing when I see it. You’d have to be some sort of ideologue to say no to 18% rebates, with a very achievable minimum spend. 

What happens after 30 September is a completely different question of course. I highly doubt Temasek (yes, Temasek is behind yuu) will be willing to keep the spigot switched on for long, so as with all things, enjoy it while it lasts.

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

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Gwen

Under remarks: “Min. S$600 spend per calendar month, capped at S$78 per calendar month”

So the rebate point shouldn’t it be at $78 instead of $108 in the calculation?

Josh

Think should be bonus/extra rebate of 78.
$78(13%) bonus + $30(5%) base = total $108(18%)

Last edited 11 months ago by Josh
Andrew

Yeah I think it’s a mistake

Andrew

Question. Does online spend at these merchants count? Like online cold storage delivery

VKR

I am curious about the same. Aaron, any insights on this?

Mark Davies

Well written article and very amusing, esp.” while this isn’t quite the Road to Damascus” and “gasping in collective shock” 😁😁

yct

I learn all my biblical references from milelion

Lex

For the sign up bonus, must the spend be on Yuu Merchants?

Selena

I’m curious about this too!

T L

Me too

tim

is it easy to waive DBS annual fee?

Leon

Had to call in to waive the fee, the chatbot method didn’t work

Falco

Note: Doesn’t work for all Toastbox outlets. Just tried the outlet in Parkway Parade. No Yuu scan and cannot accept Yuu Amex card. Same for the Food Republic stores in same location. Will be hard to make that spending.

Wee Lin

Good data point. Would the Visa version work in that case?

Falco

I guess visa would have worked, but no yuu scan points and perhaps no bonus either. I really wonder how to spend 600$ on this. I will be glad if I manage the sign up bonus spend limit, and that will be tough already. I just spent time at Giant and can’t find anything worthwhile.

Falco

Soo, that same problem is there with CART (ie online orders for Giant, etc): they don’t accept Amex. I should have gotten the Visa card instead. 🙁

Kel

Unfortunately, the CS at my area lags behind Fairprice in terms of variety and has higher pricing for the same items.

Daniel

CS price is usually more expensive than regular Fairprice (not sure about Finest). Try buying house brand or stuff that cannot be found in Fairprice then.

T L

Is spending on non-Yuu partners included in the requirement to earn the new cardholder sign-up bonus of $300, given that the minimum spend of S$350 within 30 days is met?
I couldn’t find this information in their terms and conditions.

Beans

I’m interested in this point too because I’m planning to buy something on Amazon. As far as I can tell, nothing under clause 7 (non-qualifying spend) in the TNC would discount non-Yuu partners.
Would appreciate it if someone could help clarify – thanks!

Smeedee

I made my first transaction at Cold Storage with my new DBS yuu card. Only 1 pt per $1 was received on my yuu app immediately. I am following up in the next few days to see if the remaining 9 pts per $1 for the “base” reward will be received. Has anyone else had the same experience?

asprino

Too bad other Jardines venture are not on it like in HK. I want my cashback at C&C!

Noob

After the last Malaysia election I believe anything can happen. Mile chasers can become cash back bros as long as the deal is good enough.

Joe

How can you all keep track of spending towards exactly $600 a month?

Sev

Use an app, or excel sheet. If it’s too much work then this game (maximise miles or cashback) is not for you

Joe

Thanks for the tip – what app works for this purpose?

Bruno

Just set a 600 (or slightly more) monthly limit on the card via the DBS app. Once the card fails you can start counting transactions and spend just the difference to 600 if required

Last edited 11 months ago by Bruno
Matt

Seems like DBS revised the minimum spend of $350 to $500 to qualify for $80 cashback for existing cardholder. If we signed up before they made the revision, are we affected by the change?

Jack

For the $80 Amex reward for existing dbs card holders, you mentioned $350 min spend but DBS t&c is $500 , is there a typo error somewhere?

Ryn

does having the DBS YUU VISA and AMEX means we can do the $600 grocery run twice?

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