DBS changed its Mutiplier plan

madtari

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Yes, only 0.05%. There are tons of other bank accounts which gives you 1-2% without having any requirements (eg. CIMB fast saver, Maybank iSavvy etc). Why not park your spare cash over there? Unless you are expecting to use them in the next few days...

Bonus interest only for the 1st 50k?

What if we exceed 50k but didn't hit the 3rd catagory? What is the interest? 0.05%?

Have some spare cash since I some of sold my stocks and temporary leaving it in my multipler acc till I found new stock to buy..
 

Rainbow1112

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Yes, only 0.05%. There are tons of other bank accounts which gives you 1-2% without having any requirements (eg. CIMB fast saver, Maybank iSavvy etc). Why not park your spare cash over there? Unless you are expecting to use them in the next few days...

I'm not sure when I will use it.. depend on the market.. I do have a maxigain account but I can't transfer it there without dropping the counter once I need to use the funds..
 

MrRainbow

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If I have a multiplier account, but my salary is credit to my other POSB account, will I still be considered as fulfilling the salary criteria?
 

hyperbole

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Thanks. Can I spend on debit card or have to apply for a credit? I don’t spend much and The annual fee is expensive :(

You need credit card for bonus interest. Just call for auto waiver when charged annual fee. I have never been denied waiver from DBS
 

orionmiz

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That itself has annual fee :s22: :s22:

There's also another option but requires large amount of funds to be deposited.

Put $350,000 inside DBS account, apply for DBS Treasures, and then apply for the DBS Treasures AMEX credit card. Annual fee is waived perpetually (don't have to call or apply for fee waiver).
 

madtari

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There are so many posb n DBS credit cards... when it's time for annual fee, just cancel it and apply another one. I think posb everyday card has 5 yrs of fee waiver.

Thanks. Can I spend on debit card or have to apply for a credit? I don’t spend much and The annual fee is expensive :(
 

hyperbole

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There's also another option but requires large amount of funds to be deposited.

Put $350,000 inside DBS account, apply for DBS Treasures, and then apply for the DBS Treasures AMEX credit card. Annual fee is waived perpetually (don't have to call or apply for fee waiver).

That makes absolutely no sense. Why tie up 350k just so you don't have to call and press some buttons to get a waiver once a year?
 

hyperbole

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Do I need to spend a certain amount for the waiver of annual fee?

No need. I have a card that I never charged a single cent to and they continue to waive the fees every year. Why worry so much. Apply and use. If they don't approve your waiver just cancel. They can't charge you the fee if you cancel because first year is always free
 

MrRainbow

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Thanks hahaha. Only afraid second year they don’t approve waiver and I have to pay the fee before I cancel anyway..

No need. I have a card that I never charged a single cent to and they continue to waive the fees every year. Why worry so much. Apply and use. If they don't approve your waiver just cancel. They can't charge you the fee if you cancel because first year is always free
 

LexusIS

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Thanks hahaha. Only afraid second year they don’t approve waiver and I have to pay the fee before I cancel anyway..

Even if they charge you annual fees on 2nd year, u can always call in to get waive it. If waiver really not approve for whatever reason, just get them to cancel and reverse out the annual fees.

No one pay for annual fees nowadays.
 

silverbomb

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Funny how some ppl think paying annual fee is norm. A colleague walked past me overheard my conversation about annual fee waiver and she said "huh, I've been paying fees to use credit card. Didn't know can waive one." *faint*
 

Sinkie

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Funny how some ppl think paying annual fee is norm. A colleague walked past me overheard my conversation about annual fee waiver and she said "huh, I've been paying fees to use credit card. Didn't know can waive one." *faint*

Some pay annual fee to exchange for miles
 

MrRainbow

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Thanks...hahaha my first credit card so I have no clue

Even if they charge you annual fees on 2nd year, u can always call in to get waive it. If waiver really not approve for whatever reason, just get them to cancel and reverse out the annual fees.

No one pay for annual fees nowadays.
 

silverbomb

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Some pay annual fee to exchange for miles

i'm quite sure she wasn't doing that for the miles. she thinks that the fee is a must to pay in order to use a credit card.

if it is mile chasers, i can totally undstd.
 
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