DBS Vantage Card: Keep or cancel?

The DBS Vantage Card has never been the star of the S$120K pack, but so long as you could meet the S$60,000 minimum spend for an annual fee waiver, it was basically a free card (S$60,000 sounds dauntingly high, but it included some transactions which might surprise you — iykyk).

However, DBS ended the spend-based fee waiver in August 2026, and the ALL Accor+ Explorer membership — one of the Vantage’s key benefits — was devalued during the transition from Accor Plus (not to mention you can now get a 6-month trial for free with any Visa Infinite card). And with the local earn rate set to be cut on 2 November 2026, is that the final nail in the coffin?

Well, it’s not so straightforward. For some cardholders, the decision to cancel should be obvious. But for others, the DBS Vantage Card may soon be a better deal, or even a no-brainer. 

So, if your renewal is coming up, is it still worth keeping the DBS Vantage Card?

Recap: Upcoming changes to DBS Vantage Card

In case you haven’t been paying attention, the following changes are coming to the DBS Vantage Card from 2 November 2026:

• The local earn rate will be cut from 1.5 mpd to 1.4 mpd
• DBS Treasures customers will receive four complimentary airport limo rides per year
• DBS Treasures customers with Accredited Investor (AI) status will receive the limo rides, plus a perpetual annual fee waiver

While we don’t have the full details of the additional benefits for DBS Treasures customers yet, we do know they’ll only be available to fully funded customers with S$350,000 AUM. If you’re a “Temu-Treasures”, i.e. someone who received an invite to join with a waived AUM requirement, these benefits will not be offered.

I’ve compiled all the information I’ve been able to confirm so far in the post below.

Details: DBS Vantage limo rides and annual fee waiver for Treasures customers

How much are the DBS Vantage Card’s benefits worth?

For the DBS Vantage Card to make sense, you’ll need to be able to cover the S$599.50 annual fee, plus a little extra (merely breaking even isn’t good enough, once you factor in the time and effort involved).

How much more depends on you, but here’s my attempt at putting a value on each benefit. I’ll caveat that value is subjective, and how you value things could be very different from how I do.

25,000 miles each year

DBS Vantage cardholders receive 12,500 DBS Points for paying the S$599.50 annual fee each year.

This is equivalent to 25,000 miles with KrisFlyer or Asia Miles (conversions to Qantas were removed in September 2026).

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

Based on a conservative value of 1.5 cents per mile, this is worth S$375 in total — though it’s certainly possible to get > 1.5 cents per mile on certain redemptions, depending on your circumstances.

10x Priority Pass visits

DBS Vantage cardholders receive 10 Priority Pass visits per membership year, which can be shared with one or more guests. Theoretically, you could bring in nine guests with you and use all 10 visits at one shot. 

It’s always tricky valuing lounge visits, but a good proxy is the F&B credits that can be redeemed at participating airport restaurants. The value differs slightly by country, though it generally hovers around S$30, or S$300 for 10x visits. If you mostly redeem your lounge visits at Changi, however, it’s worth remembering that the airport restaurants here have transitioned away from dining credits to set menus, where the actual value is probably closer to S$20-S$25.

On a side note, it might be a better idea to look at marginal value, rather than face value. The DBS Vantage’s lounge visits are worth little if you already get more than enough Priority Pass visits from credit cards with waivable annual fees. At last count, it was possible to enjoy 22 lounge visits from cards with first year fee waivers, or 14 lounge visits on an ongoing basis (from cards which are not strict about enforcing annual fees, even after the first year).

ALL Accor+ Explorer membership

DBS Vantage cardholders receive an ALL Accor+ Explorer membership, which retails for S$329 (the price was increased from S$299 on 1 October 2026).

Benefits include:

• Two Stay Plus free nights across Asia Pacific and the Middle East (buy one night, get one night free)
• Up to 50% off member exclusive room rates with Red Hot Room offers
• 15% off Accor hotel stays worldwide
• 30% off dining across Asia Pacific and the Middle East for up to 10 pax
• 15% off drinks across Asia Pacific and the Middle East
• 30 status nights each year

These should definitely be worth more than S$329, assuming you make use of the dining discounts somewhat regularly, and don’t spend your Stay Plus nights at Ibis or something. 

That said, the value should be the lower of the retail price or actual benefits derived. If you’d happily pay S$329 for ALL Accor+ Explorer because you get S$600 of value from it, then the Vantage saves you the S$329 that you would have spent. 

Here’s where things get tricky though. Since the start of October 2026, Visa Infinite cardholders in Singapore have been able to enjoy a complimentary 6-month ALL Accor+ Explorer membership.

The trial membership basically includes all of the perks that the full membership has — except the two Stay Plus nights. Granted, that’s probably the most valuable perk of all, but does the free trial undermine the value of the DBS Vantage (especially since if you have multiple Visa Infinite cards, there’s nothing stopping you from getting multiple trials)?

I honestly don’t know how to answer that question, but at the very least, it means that you should only assign value to the Stay Plus nights, since the rest of the dining and hotel room discounts are available for free. If you want to keep a S$329 valuation, you’ll need to save at least S$164.50 per Stay Plus night.

4x airport limo transfers

DBS Vantage cardholders with DBS Treasures status receive four complimentary airport limo transfers each year, with no minimum spend required to unlock them.

The value of these obviously depends on where you live — someone who stays in Jurong would value it a lot more than a Tampines resident — but we could probably assume a S$35 valuation.

Visa Infinite perks

As a Visa Infinite card, DBS Vantage cardholders also enjoy the following perks:

I’m just covering this for the sake of completeness. I wouldn’t place any value on these benefits, since you could enjoy them with any Visa Infinite card — including the CIMB Visa Infinite, which has no annual fee.

Earn rates

Some DBS Vantage cardholders may have previously placed some value on the fact that it earns 1.5 mpd, the highest local earn rate among the S$120K segment.

But with the cut in earn rates to 1.4 mpd, there’s no longer any justification. You can earn the same 1.4 mpd with the BOC Elite Miles Card or UOB PRVI Miles Card, both of which have annual fees that can be waived. 

Valuing the benefits

As I alluded to earlier, the benefits (and hence value) of the DBS Vantage Card depend on your status with DBS.

DBS Vantage Card
	Regular	DBS Treasures Non-AI	DBS Treasures AI
25,000 Annual Miles	✅	✅
10x Priority Pass	✅	✅	✅
ALL Accor+ Explorer	✅	✅	✅
4x Limo Rides		✅	✅
Annual Fee Waiver			✅

DBS Treasures customer with AI

Why are you even reading this article? Your annual fee is waived, and you get all the benefits except 25,000 miles. 

Don’t be daft — get the card once 2 November comes round.

DBS Treasures customer, no AI

If you’re a DBS Treasures customer without AI status, then the perks alone should comfortably cover the S$599.50 annual fee, and then some.

But like I said, you’ll need to question some of the assumptions behind the figures. Will you fully utilise the Accor+ Explorer’s two Stay Plus nights, and at what kind of property? How much are those limo rides really saving you, and can you finish all the lounge visits?

Also, it’s a separate question whether it’s worth becoming a DBS Treasures customer just for four limo rides. I suspect not, though if your assets are already there, then it might not require much incremental effort. 

Regular customer

The only difference between a non-AI DBS Treasures customer and a “normie” is the four limo rides, but that means the take it/leave it decision is more sensitive to the rest of the assumptions.

For example, if you only do one Stay Plus night at a lower-tier hotel and save S$150, then the value drops to S$825 — still more than S$599.50, but definitely more marginal. And if you already get enough lounge visits from cards with fee waivers, then the DBS Vantage’s lounge visits don’t add much incremental value. 

Besides, there’s another way of thinking about this. The Citi Prestige Card has an annual fee of S$651.82, so by paying an extra ~S$50, you get 7,000 more miles and two more lounge visits. You won’t have the ALL Accor+ Explorer membership, but you will enjoy the 4th night free on hotel bookings, discounts on SIA tickets, and two complimentary limo rides whenever you spend at least S$12,000 in a calendar quarter.

Viewed through that lens, switching to the Citi Prestige might be a better option, especially if you can get the 45,000 miles welcome bonus too (though the minimum spend is an eye-watering S$14,000).

Before you cancel

If you’ve decided you want to cancel the DBS Vantage Card, here are two important things to remember.

Stay Plus nights will be forfeited

When you cancel your DBS Vantage Card, your ALL Accor+ Explorer membership will automatically be terminated. This means that any unused Stay Plus certificates will also be forfeited, so make sure to redeem them first.

And by redeem, I mean completing the stay. If you make a future booking using a Stay Plus certificate, but cancel your ALL Accor+ Explorer membership before the stay, you’ll be charged the undiscounted rate at check-in. 

Redeem your DBS Points

While DBS Points are pooled for the purposes of redemptions, they are kept in separate silos otherwise. Cancelling a DBS card means losing the DBS Points associated with that card. 

Where it gets complicated is that the DBS system will prioritise redeeming the DBS Points that expire the soonest.

• DBS Woman’s World Card (1 year)
• DBS Vantage (3 years)
• DBS Altitude, Chromo (No expiry)

Therefore, in order to redeem your DBS Vantage points, you will usually have to redeem all the points from your DBS Woman’s World Card first.

DBS requires that transfers be in blocks of 5,000 DBS Points (10,000 miles) with a flat fee of S$27.25, but if you still have orphan points left over, you can convert them into miles via Kris+ in blocks of 100 DBS Points (170 miles) — there is a 15% haircut in value, but these transfers are instant, and free of charge. 

Conclusion

From 2 November 2026, the DBS Vantage Card will cut its local earn rate, but also add new benefits for DBS Treasures customers.

Obviously, if you’re an Accredited Investor who qualifies for the annual fee waiver, you shouldn’t think twice about getting the Vantage, or renewing it, if you already have one.

For everyone else, you’ll have to think long and hard about how much you value 25,000 miles, 10 lounge visits, an ALL Accor+ Explorer membership, and four airport limo rides (only for DBS Treasures customers) — keeping in mind the ability to enjoy some of these benefits for free, such as the lounge visits on cards with annual fee waivers, or the free 6-month ALL Accor+ Explorer membership for Visa Infinite cardholders. 

It’s also worth considering whether you’d rather top up an extra S$50 for a Citi Prestige, given the incremental perks.

Are you keeping or cancelling your DBS Vantage?