DCS Imperium Card slashes annual fee by 65%, adds uncapped 4 mpd on FCY spend

If you ever needed a textbook definition of delusions of grandeur, look no further than the DCS Imperium Card, a card with ordinary benefits and an extraordinary price. This, more than anything, should be a bellwether for just how bad inflation has become— never before has S$3,583.92 bought so little!

But now comes a plot twist: DCS is radically retooling the Imperium from 1 May 2025, slashing its annual fee by almost 65% and adding an uncapped 4 mpd on foreign currency (FCY) spend. 

If the rest of the benefits remain unchanged (and that’s a big if), it might just have gone from joke card to deal of the year.

DCS Imperium Card cuts annual fee by 65%

The DCS Imperium Card currently has an annual fee of S$3,583.92, but from 1 May 2025, this will be cut to S$1,294.92, a reduction of almost 65%! Never before have we seen a dramatic cut to an annual fee (X Card > Journey doesn’t count because the latter was a completely different product), and if anything, the trend now is for cards to raise it (thanks, AMEX).

This results in quite the segment jump. At its current annual fee, the DCS Imperium Card competes with the likes of the DBS Insignia and UOB Reserve. At its revised price point, it’s more on par with the AMEX Platinum Charge and StanChart Beyond Card.

💳 Cards with 4-digit Annual Fees
Cards	Annual Fee
AMEX Centurion	S$7,630 Review
Citi ULTIMA	S$4,237.92 Review
UOB Reserve	S$3,924 Review
DCS Imperium	S$3,583.92
DBS Insignia	S$3,270 Review
AMEX Platinum Charge	S$1,744 Review
StanChart Beyond	S$1,635 Review
DCS Imperium	S$1,294.92 Review

4 mpd for all overseas spend

The DCS Imperium Card currently earns an uncapped 2.4 mpd on all FCY spend, with no minimum spend required.

From 1 May 2025, the FCY earn rate will be upsized to 4 mpd, with a minimum monthly spend of S$4,000 in FCY. DCS has not mentioned a cap, so I’m going to assume there is none.

If so, the Imperium would become one of the best options for overseas transactions, assuming the minimum spend is no impediment.

Card	FCY Earn	Remarks
DCS Imperium Card Apply	4 mpd No cap	Min. S$4K spend per c. month
UOB Visa Signature Apply	4 mpd S$2K cap	Min. S$1K FCY spend per s. month
UOB Pref. Plat. Visa Apply	4 mpd S$1.1K cap	Must use mobile contactless
StanChart Beyond Card Apply	3-4 mpd No cap	Regular: 3 mpd, PB: 3.5 mpd, PP: 4 mpd
Maybank World Mastercard Apply	3.2 mpd No cap	Min. S$4K spend per c. month
Maybank Visa Infinite Apply	3.2 mpd No cap	Min. S$4K spend per c. month
StanChart Visa Infinite Apply	3 mpd No cap	Min. S$2K spend per s. month
Maybank Horizon Apply	2.8 mpd No cap	Min. S$800 spend per c. month

In fact, one might even make the case that the DCS Imperium Card is the best option for overseas spending, because the other 4 mpd options are either capped (UOB), or have a higher FCY fee (3.5% for Standard Chartered).

No more metal card for the first supplementary cardholder

The DCS Imperium Card currently offers the first supplementary cardholder a metal Imperium Card, with a perpetual annual fee waiver.

From 1 May 2025, this will be changed to a plastic card instead, with the fee waiver still available.

Frankly, this doesn’t bother me at all. The supplementary card could be made from occult literature and toenail clippings for all I care; if the benefits are good enough, I’m still going to get one.

Is the DCS Imperium now a good deal?

Since DCS has not mentioned any other changes to the Imperium, all we can do is take them at their word and assume that the rest of the card features remain as-is, namely:

• 100,000 miles each year the annual fee is paid
• 5x complimentary airport limo rides per year
• 6x airport lounge visits per year
• Personalised card number (no, really)
• World Elite Mastercard benefits

With a S$3,583.92 annual fee, these benefits are laughable. With a S$1,294.92 annual fee? Completely different story. I mean, 100,000 miles alone would already more than cover the annual fee— it almost seems too good to be true!

So I’m going to be watching the Imperium website with great interest over the next couple of weeks to see whether any changes are made to the welcome gift, as DCS reserves the right to do in its T&Cs.

Assuming the welcome gift is not in the picture, would the rest of the benefits warrant paying that kind of annual fee?

Probably not. While an uncapped 4 mpd on FCY spend is a nice feature, you could do almost as good with the Maybank World Mastercard and a much lower annual fee (S$261.60, waivable even after the first year). Five airport limo rides and six lounge visits a year would be lacklustre for a $120K card, let alone one with a four-digit annual fee. And if it’s World Elite Mastercard benefits you’re after, you could enjoy them with a Citi Prestige (S$545) or OCBC Premier Debit Card (min. AUM: S$350K).

Conclusion

Major changes are coming to the DCS Imperium Card from 1 May 2025, which will see the annual fee slashed by almost two thirds, and an uncapped 4 mpd on FCY spending added. As much as I’ve trashed this card, I know a good deal when I see one. If the 100,000 miles welcome gift remains, you can bet I’ll be the first on the waitlist. 

In fact, the bigger question I have is: What happens to those guys who took a punt on the card when the annual fee was S$3,583.92? 

Do they get a refund, or what?

(HT: Alvin)