Is it worth applying for the DCS Diners Club Cashback Card?
PHOTO: Screengrab/DCS Cashback Card
PUBLISHED ONFebruary 08, 2023 4:52 AMByVanessa Nah
Looking for a fuss-free, low minimum spend cashback credit card? The DCS Diners Club Cashback Card might tick the right boxes for you.
Unlike many other DCS cards with merchant-specific rebates (like the DCS Don Don Donki and Sheng Siong cards), the DCS Diners Club Cashback Card offers cashback on spending from a range of retailers.
But is the DCS Diners Club Cashback Card worth getting? How does it compare to other cashback cards? In this review, we dive into its benefits, fees, ongoing promotions, and more.
1. DCS Diners Club Cashback Card: Overview
The DCS Diners Club Cashback Card is a cashback credit card. So, unlike rewards credit cards, there are no rewards points to be earned and redeemed. Instead, DCS will calculate your monthly cash rebates and offset that amount from your credit card bill the same month. This is done automatically for you, so your only job is to spend!
With a pretty low minimum income requirement of $30,000 per year, the DCS Diners Club Cashback Card is an entry level card suitable for the average Singaporean. On top of a cash rebate of five per cent, the card comes with free insurance coverage and airport lounge access in 140 countries worldwide.
It also comes in two variations — the DCS Cashback Regular Credit Card and the DCS Diners Club $500 Limit Cashback Card, a scaled down version with lower income requirements and card fees.
2. DCS Diners Club Cashback Card: Annual fee, minimum income
Here's the lowdown on the DCS Diners Club Cashback Card's fees, minimum income requirements, and more.
| DCS Diners Club Regular Cashback Card | DCS Diners Club S$500 Limit Cashback Card | |
| Credit limit | $30,000 | $500 |
| Cashback | 5 per cent (capped at $50) with $400 minimum spend | 2 per cent (capped at $10) with $150 minimum spend |
| Annual fee | $194.40 (inclusive of GST) | $30.24 (inclusive of GST) |
| Annual fee waiver | Free for the first year, including supplementary card | Free for the first year |
| Supplementary card annual fee | $86.40 (inclusive of GST) | – |
| Minimum annual income (Singaporean/PR) | $30,000 or $15,000 (aged 55 & above) | $16,000 (except students and NSFs) |
| Minimum annual income (Foreigners) | $60,000 p.a. | – |
| Age requirement | 21 to 65 years old | 18 to 65 years old
For applicants aged below 21, parent’s / guardian’s consent is required. |
| Interest rate | 27 per cent p.a. | 28 per cent p.a. |
| Late payment fee | $80 | |
| Minimum monthly repayment | 5per cent of outstanding balance or $50 (whichever is greater), or the full amount if below S$50; plus all past due amount and any amount exceeding credit limit | Total outstanding balance or S$50 (whichever is lower), plus all past due amount and any amount exceeding credit limit |
| Foreign currency transaction fee | 3 per cent | |
| Cash advance transaction fee | 6 per cent of the cash advance or $20 (whichever is greater) per cash advance | |
| Overlimit fee | $50 per month | |
| Card association | Diners Club International | |
3. DCS Diners Club Cashback Card: Cashback rates
The DCS Diners Club Cashback Card is a decent cashback card if you spend $1000 or less a month.
While the card used to have a tiered cash rebate structure based on the amount you spend in a month, DCS thankfully simplified their cash rebates in October 2022.
As long as you hit a certain monthly minimum spend, you get to enjoy five per cent cash rebate using the regular DCS Diners Club Cashback Card or two per cent rebate using the $500 limit version:
| Card | Cashback rate | Minimum spend (monthly) |
| DCS Diners Club Regular Cashback Card | 5 per cent (capped at $50) | $400 |
| DCS Diners Club S$500 Limit Cashback Card | 2 per cent (capped at $10) | $150 |
For the DCS Diners Club Regular Cashback Card, five per cent cashback is a relatively decent rate, especially across various spending categories and merchants. The main drawback is the $400 minimum spend to get this rate.
With other cashback credit cards offering cashback rates just as high with $0 minimum spend, the DCS Diners Club Cashback Card isn't as competitive in this respect.
The DCS Diners Club $500 Limit Cashback Card is a deceivingly good cashback card for small spenders. While this variation has lower cashback of two per cent, it also has a lower minimum spend of $150. Other low or no minimum spend credit cards may not give you two per cent cashback, especially across a variety of spending categories.
For example, the Standard Chartered Simply Cash Credit Card offers 1.5 per cent cashback with no minimum spend, plus a bonus 0.2 per cent if your monthly bill hits $1,500. Essentially, that's 1.7 per cent cashback with $1,500 monthly spend.
4. DCS Diners Club Cashback Card: Credit limit
While the regular DCS Diners Club Cashback Card comes with a $30,000 credit limit, the more basic version has a $500 limit.
Thinking the conservative $500 credit limit is a little low to maximise the card's cashback? Actually, it's perfect. If you charge $500 to your card, you max out the $10 cashback cap at a cashback rate of two per cent (For the math dummies out there trying to catch up, 0.02*$500=$10).
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However, if you can hit a $500 monthly spend, you're well above the $400 minimum spend for the regular DCS Diners Club Cashback Card. You might as well spring for that one, provided you meet the minimum income requirement of $30,000 per year.
5. DCS Diners Club Cashback Card: How does the cash rebate work?
For both the regular and $500 limit DCS Diners Club Cashback Card, DCS will track your spending on eligible transactions from the 1st calendar day to the last calendar day of the month.
They'll then credit the five per cent or two per cent cash rebate to your monthly bill for that same month. So for your spending from Jan 1 to Jan 31, the cashback you earned will offset your January credit card bill.
What about cash rebates on a supplementary card? Say you have the regular DCS Diners Club Cashback Card and get a supplementary card for your family member to use. Any cash rebate earned on the supplementary card will be credited to your monthly bill, and your family member gets nothing.
So if you have trouble hitting the $400 monthly minimum spend yourself, you can make use of a supplementary card and a family member to help you snag the five per cent cash rebate.
6. DCS Diners Club Cashback Card: Diners Club benefits
These days, cashback cards need to do more than give us cashback. DCS knows this, and has thrown in some extra Diners Club privileges to their regular DCS Diners Club Cashback Card:
- Free insurance coverage: Up to S$1 million personal accident protection, $250,000 on-flight personal accident insurance and travel inconvenience reimbursement.
- Airport lounge access: Access to nearly 1,300 airport lounges across 600+ cities in 140 countries worldwide, including Changi Airport Terminal 1, 2, 3 and 4.
Unfortunately, if you have the $500 limit version of the DCS Diners Club Cashback Card, you don't get any insurance coverage and can only enjoy one complimentary airport lounge access per year.
7. DCS Diners Club Cashback Card promotion: Gotrip luggage bags worth $500
Sold on the DCS Diners Club Cashback Card? If you're interested in not just one, but two DCS cards, the deal just got sweeter.
The current promotion for the DCS Diners Club Cashback Card is for a pair of Gotrip luggage bags worth $500. To snag this deal, apply for any two DCS cards and spend a cumulative of at least $350 monthly for two consecutive months.
Once you've met the eligibility criteria, you'll receive redemption instructions within two months of the end of your qualifying spend period. This promotion is valid until May 31, 2023.
8. Should I get the DCS Diners Club Cashback Card?
So, are you still wondering if the DCS Diners Club Cashback Card is a good card for you? The regular DCS Diners Club Cashback Card is suitable for you if you have regular expenses amounting to at least $400 per month, but not more than $1000.
Why? At a cashback rate of five per cent with a $50 cap, you'll max out your cashback at the $1000 mark (0.05*$1000=$50). If you're going to be spending more than $1000 per month, you might as well spring for a credit card with higher cashback. Here are a few you can consider:
What about the $500 limit DCS Diners Club Cashback Card? This card is suitable for you if:
- You spend between $150 to $400 in a month.
- You want cashback across a variety of spending categories.
- Your annual income is less than $30,000.
- You're between 18 to 21 years old.
TheDCS Diners Club $500 Limit Cashback Card is a great cashback option for small spenders. We're thinking of young adults who are new to the whole adulting thing, especially those recently entering the workforce, trying out part-time gigs, or exploring the freelance/digital nomad lifestyle.
Its $150 monthly minimum spend is one of the lowest out there. While there are $0 minimum spend cards, the cashback on these tend to be lower. For example, the HSBC Advance Credit Card offers a base rate of 1.5 per cent cashback with $0 minimum spend.
This article was first published in MoneySmart.