"Live Fresh and Chill"
With a 5% cash back on online and Visa contactless spend, the DBS Live Fresh Card tries to appeal to the younger tech-savvy users and is a key product among DBS Credit Cards with regular promotions and tie-ups with popular merchants. The 5% cash back on Visa contactless spend makes it the perfect general everyday spend card as most merchants now accept contactless payments and the card definitely deserves its place as one of the better Credit Cards for Cashback out there in the market.
Earn 5% cashback on online and Visa contactless spend and 0.3% cashback on all other spend. There is a cash back cap of $20 on each of the three categories (online, Visa contactless and all other spend) and a total cashback cap of $60 per calendar month. Cashback will be credited to your card account on the 30th calendar day following the last day of the calendar month.
The cash back cap of $20 for each spend category (online, Visa contactless and all other spend) is somewhat lower than other Credit Cards for Cashback. It makes up by offering a lower minimum spend of $600 a month which can be easily met by shifting daily expenses either to online spend or through Visa contactless payments.
DBS runs regular card-specific limited time promotions for DBS Live Fresh Card in an effort to promote card usage and sign ups. The promotions can range from good old promotional campaigns that provide extra cashback on top of its regular cashbacks to awarding aspirational lucky draw prizes to cardholders who spend using the DBS Live Fresh Card. The current card-specific promotion subject to registration awards cardholders with an additional 5% bonus cashback for local electronics and entertainment spend subject to a minimum monthly spend of $1,200 and capped at $20 per calendar month. The promotional expires on 31 Jan 2020 and cardholders who have successfully registered can receive a total of 10% cash back for local electronics and entertainment spend capped at $40 per month.
DBS is also running a separate sign up promotion for the DBS Live Fresh Card which award new cardholders with $200 cashback when they spend a minimum of $800 within the first 60 days from card approval date. A new cardholder can double dip by stacking this promotion with the above online spend promotion. Promotion ends on 31 Jan 2021.
Other than card exclusive promotions, DBS Live Fresh cardholders can also enjoy promotions and discounts with a wide range of merchants that have tie-ups with DBS credit cards. These often include discounts for shopping, dining, online, activities, travel, etc (See Online Shopping Discount Codes for extensive list of discounts at various online merchants). Cardholders will receive additional 5% cash back on top of these discounts if they shop online or pay using Visa contactless.
So, What's the Catch?
The cash back cap of $20 for each category spend (base online spend, Visa contactless payments or bonus online spend) is quite low and one can easily hit the maximum cash back cap by spending $400 online or via contactless spend. This category cash back cap was put in place in June 2018 in an effort by DBS to make it more difficult for cardholders to earn cashback and is unlikely to be lifted anytime soon.
Is the Card still Worth Signing Up for?
To conclude, DBS Live Fresh Card has a decent 5% cashback rate for online shopping and Visa contactless spend but the cashback earned on both spending categories are limited by a low $20 cashback cap for each category. Nevertheless, the card has a relatively low minimum spend of $600 per month and have regular attractive promotions which can help cashback chasers earn more cashback or direct discounts. Hence, the card definitely still deserves its place in a cashback chaser's wallet.