DBS Altitude Card launches new welcome offer of up to 22,600 miles

Expired

From now till 31 January 2024, get up to 22,600 bonus miles with a new DBS Altitude Card and a minimum spend of S$2,000 in 30 days.

The DBS Altitude Card has launched a new welcome offer of up to 22,600 miles, valid for new-to-bank customers who apply by 31 January 2024 and spend at least S$2,000 within the first 30 days of approval.

DBS Altitude Offers
DBS markets this as “up to 37,000 miles” because their working assumes that you pay the annual fee (10,000 miles) and spend the entire S$2,000 minimum spend on foreign currency transactions (4,400 miles @ 2.2 mpd). Adjust for that, and the “true bonus” is 22,600 miles, the figure I’m using in this post

Unfortunately, this is slightly weaker than the offer which just lapsed on 30 November 2023, with a cut of 3,000 miles for the DBS Altitude AMEX, and 6,000 miles for the DBS Altitude Visa.

If it’s any consolation, the offer for existing customers has remained the same, with 11,600 bonus miles offered to applicants for the DBS Altitude AMEX who meet the same minimum spend.

DBS Altitude Card welcome offers

 
 DBS Altitude AMEXDBS Altitude Visa
New Customers22,600 bonus miles
(+10,000 miles with AF payment)
16,600 bonus miles
(+10,000 miles with AF payment)
Existing Customers11,600 bonus miles
(+10,000 miles with AF payment)
N/A
❓ New-to-bank

DBS defines “new-to-bank” as customers who do not:

  • currently hold a principal DBS or POSB credit card, and
  • have not cancelled a principal DBS or POSB credit card in the past 12 months

From now till 31 January 2024, DBS Altitude Card applicants can earn up to 22,600 bonus miles, depending on which version of the card they apply for, and whether they’re a new or existing DBS/POSB customer.

On top of this, an additional 10,000 miles will be awarded if they choose to pay the first year’s S$194.40 annual fee (increasing to S$196.20 from 1 January 2024).

To enjoy these bonuses, customers must enter a certain promo code at the point of application (see below for details). Make sure to do this; no code, no bonus!

dbs promo code box

There’s nothing stopping you from signing up for both the Altitude AMEX and Altitude Visa cards. However, you will only enjoy the new-to-bank bonus on the first card that’s approved, and therefore you should apply for the Visa fist, then the AMEX, should you go down this route.

DBS Altitude AMEX sign-up offer

New-to-bank customers

DBS Altitude AMEX
Apply
Promo CodeALTMEXALTMEXW
Bonus Miles22,60022,600
Base Miles From S$2,000 Spend (@ 1.3 mpd)2,6002,600
Miles From S$194.40 Annual Fee10,000Fee waived
Total Miles35,20025,200

New-to-bank customers who apply for a DBS Altitude AMEX by 31 January 2024 (with approval by 14 February 2024) and spend S$2,000 within 30 days of approval will receive 22,600 bonus miles, on top of 2,600 base miles (assuming the entire S$2,000 is spent locally at 1.3 mpd).

If they pay the S$194.40 annual fee, they’ll receive an additional 10,000 miles. 

Customers who wish to pay the annual fee can apply with the promo code ALTMEX, while those who want a first year fee waiver can apply with the promo code ALTMEXW.

The T&Cs of this offer can be found here.

Existing customers

DBS Altitude AMEX
Apply
Promo CodeALTMEXAALTMEXAW
Bonus Miles11,60011,600
Base Miles From S$2,000 Spend (@1.3 mpd)2,6002,600
Miles From S$194.40 Annual Fee10,000Fee waived
Total Miles24,20014,200

Existing customers who apply for a DBS Altitude AMEX by 31 January 2024 (with approval by 14 February 2024) and spend S$2,000 within 30 days of approval will receive 11,600 bonus miles, on top of the 2,600 base miles (assuming the entire S$2,000 is spent locally at 1.3 mpd). 

If they pay the S$194.40 annual fee, they’ll receive an additional 10,000 miles. 

Customers who wish to pay the annual fee can apply with the promo code ALTMEXA, while those who want a first year fee waiver can apply with the promo code ALTMEXAW.

The T&Cs for this offer can be found here. 

DBS Altitude Visa sign-up offer

New-to-bank customers

DBS Altitude Visa
Apply
Promo CodeALTVISALTVISW
Bonus Miles16,60016,600
Base Miles From S$2,000 Spend (@ 1.3 mpd)2,6002,600
Miles From S$194.40 Annual Fee10,000Fee waived
Total Miles29,20019,200

New-to-bank customers who apply for a DBS Altitude Visa by 31 January 2024 (with approval by 14 February 2024) and spend S$2,000 within 30 days of approval will receive 16,600 bonus miles, on top of the 2,600 base miles (assuming the entire S$2,000 is spent locally at 1.3 mpd). 

If they pay the S$194.40 annual fee, they’ll receive an additional 10,000 miles.

Customers who wish to pay the annual fee can apply with the promo code ALTVIS, while those who want a first year fee waiver can apply with the promo code ALTVISW.

The T&Cs of this offer can be found here. 

Existing customers

There is no offer for existing DBS customers who sign up for a DBS Altitude Visa card. 

What counts as qualifying spend?

Cardholders are required to spend at least S$2,000 within 30 days of approval.

Qualifying spend consists of local and foreign retail sales and recurring bill payments, excluding the following:

⚠️ Excluded transactions
  • posted 0% Interest Instalment Payment Plan monthly transactions,
  • posted My Preferred Payment Plan monthly transactions,
  • interest, finance charges, cash withdrawal, balance transfer, smart cash, AXS payments, SAM online bill payments, bill payments via internet banking and all fees charged by DBS;
  • payments to educational institutions;
  • payments to financial institutions (including banks, online trading platforms and brokerages);
  • payments to government institutions and services (court cases, fines, bail and bonds, tax payment, postal services, parking lots and garages, intra-government purchases and any other government services not classified here);
  • payments to hospitals;
  • payments to insurance companies (sales, underwriting and premiums);
  • payments to non-profit organisations;
  • payments to utility bill companies;
  • payments to professional service providers (including but not limited to accounting, auditing, bookkeeping services advertising services, funeral service and legal services and attorneys);
  • any top-ups or payment of funds to payment service providers, prepaid accounts any prepaid accounts or purchase of prepaid cards/credits (including but not limited to EZ-Link, GrabPay, NETS FlashPay, Transit Link, Razer Pay, ShopeePay, Singtel Dash, Amaze);
  • payments made via CardUp, FavePay, iPaymy and SmoovPay
  • any betting transactions (including levy payments to local casinos, lottery tickets, casino gaming chips, off-track betting and wagers);
  • any transactions related to crypto currencies; and
  • any other transactions determined by DBS from time to time.

DBS has confirmed with me that CardUp transactions will only count towards the minimum spend for sign-up bonuses if they are made in respect of rental payments. That said, all CardUp transactions, regardless of type, are still eligible for base miles with DBS cards (i.e. 1.3 mpd).

When will the bonus miles be credited?

For cardmembers who have opted for the annual fee bonus, the 10,000 miles will be credited once the annual fee is charged, which should happen within 2-4 months of meeting the minimum S$2,000 qualifying spend.

The bonus miles for meeting the minimum spend will be credited within 2-4 months of meeting the minimum spend. 

To illustrate, a new-to-bank DBS Altitude AMEX cardholder who gets approved on 1 December 2023 and pays the S$194.40 annual fee for 10,000 extra miles:

  • Must meet the S$2,000 min. spend by 31 December 2023
  • Will receive 10,000 miles when the annual fee posts, which should happen by 30 April 2024
  • Will receive 22,600 miles by 30 April 2024

Is it worth it?

Leaving aside the fact that this welcome offer is smaller than the one that just concluded on 30 November 2023, a bonus of 11,600/22,600 miles for existing/new customers with S$2,000 minimum spend is decent enough.

However, you’ll need to factor in the opportunity cost of spending on a general spending card. Assuming you clock the S$2,000 minimum spend on local transactions @ 1.3 mpd, your opportunity cost (compared to spending on a 4 mpd card) will be 5,400 miles (S$2,000 x (4-1.3)).

You might also consider saving your new-to-bank status for one of DBS’s periodic cashback offers, where you can get up to S$300 cash. 

What can you do with DBS Points? 

DBS Points earned on the DBS Altitude do not expire, and can be converted to any of the following frequent flyer programmes with a S$27 admin fee. 

Frequent Flyer ProgrammeConversion Ratio
(DBS Points: Miles)
5,000: 10,000
5,000: 10,000
5,000: 10,000
500: 1,500

DBS also offers automatic conversions to KrisFlyer for a 12-month period with a S$43.20 annual fee.

In my opinion, it’s only worth transferring miles to KrisFlyer or Asia Miles. AirAsia BIG is more of a rebates program than a traditional frequent flyer scheme, and Qantas Frequent Flyer doesn’t have any real sweet spots for Singapore-based travellers (unless maybe you want to book a round-the-world trip, or domestic flights within Australia).

Overview: DBS Altitude Card

Apply (AMEX)
Apply (Visa)
Income Req.S$30,000 p.a.Points ValidityNo Expiry
Annual FeeS$194.40
(First Year Free)
Min.
Transfer
5,000 DBS Points
(10,000 miles)
Miles with
Annual Fee
10,000Transfer
Partners
  • SIA
  • Air Asia
  • Cathay Pacific
  • Qantas 
FCY Fee3% (AMEX)
3.25% (Visa)
Transfer FeeS$27
Local Earn1.3 mpdPoints Pool?Yes
FCY Earn2.2 mpdLounge Access?Yes 
(Visa)
Special Earn6 mpd on Expedia, 10 mpd on KaligoAirport Limo?No
Cardholder Terms and Conditions

The DBS Altitude Card has an income requirement of S$30,000 and an annual fee of S$194.40, which can be waived in the first year (or paid to earn an extra 10,000 miles). 

Cardholders earn:

  • 1.3 mpd on SGD spend
  • 2.2 mpd on foreign currency spend

Sadly, the 3 mpd for online flights and hotel bookings is no more, having been axed from 1 September 2023.

DBS Altitude Visa Cardholders enjoy a Priority Pass membership with two complimentary lounge visits. 

For a full review of the DBS Altitude Card, refer to the article below.

Review: DBS Altitude Card

Conclusion

DBS has reduced its welcome offers for the Altitude Card, with up to 22,600 bonus miles available to customers who apply by 31 January 2024 and spend S$2,000 within 30 days of approval. They can also opt to pay the S$194.40 annual fee for an extra 10,000 bonus miles.

What’s nice is that there’s an offer for existing customers too of 11,600 bonus miles, when most banks typically don’t offer this group anything.

However, with the loss of 3 mpd on online flight and hotel bookings, this is pretty much a run-of-the-mill general spending card right now.

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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