Buy Now, Pay Later: Enjoy S$25 off with 0% Interest Instalment Payment Plan | DBS Singapore (2024)

FAQs

What is an MPD credit card? ›

The rate at which miles are earned, known as miles per dollar (mpd), also differs from one card to another. The underlying principle of these credit cards is that the more you use the card to spend, the more air mile points you earn.

Can foreigners apply for credit cards in Singapore? Yes. Note that credit card applications are subject to approval by the bank. The application eligibility criteria for foreigners require a minimum annual income of S$60,000.

The Citi Rewards Card offers a large range of bonus categories, while the UOB Lady's Card gives you the flexibility to choose your bonus category each quarter. Both have the same earn rate of 10X points per $1, and each point is equivalent to 0.4 miles for both.

The amaze card is both a virtual and physical card to which you can link up to 5 Mastercard debit or credit cards. This eliminates the need for you to carry multiple cards. You can choose a specific card from your app to transact with any time.

Miles are awarded in the form of DBS Points which are awarded for every S$5 spent (1 DBS Point = 2 miles) on a per transaction basis.

Credit cards are widely accepted in restaurants, bars, shops, hotels and taxis in Singapore.

Yes, foreigners can open a bank account in Singapore, provided they have the necessary documents. Here's everything you need to know about the account opening process, the documents required, and things to watch out for.

HSBC. HSBC offers instant approval for new-to-bank Singaporeans and Singapore PRs who apply for select HSBC credit cards via MyInfo using the HSBC Singapore app. The salaried Singaporean or PR applicant must be residing in Singapore. To start, download the HSBC Singapore app from your app store.

Acceptance: MasterCard is widely accepted in Singaporeand accepted by almost all merchants accepting cards. These include retail stores, restaurants, hotels, online retailers, and other establishments throughout Singapore.

How many credit cards does the average person have in Singapore? ›

Another set of statistics showed that the average household in Singapore owned 3.4 credit cards, compared to four per household in Hong Kong and at least five credit cards per household in Taiwan ([48], [49], [50] Visa International, 2004a, b, c).

Citi^® Secured Mastercard^® is an option for customers with little or no credit history and can help you build your credit when used responsibly.

Minimum annual income:

$120,000 for Singaporeans and PRs.

World Elite Mastercard is the highest tier and as such, cards with this designation carry all the benefits of the Standard and World Mastercards plus are likely to have these additional perks: World Elite concierge.

The Minimum Payment Due (MPD) is the minimum amount of your credit card bill that you will need to pay to fulfill contractual monthly payment agreements with the bank.

A debt management plan (DMP) can provide relief by rolling several of your credit card balances into a single, more manageable monthly payment.

A MIP receives requests from a merchant's card servicing provider (acquirer). That MIP relays the request to the MIP which connects to the card holder's bank (issuer). That MIP passes the request to the card holder's bank and receive the approval or denial response.

Here's how this actually works: Authorization: When a Mastercard is swiped, dipped, or entered online, the transaction details are sent to the business's bank, then forwarded to the cardholder's issuing bank for approval. Mastercard's network is the conduit for this data exchange.