DBS has launched two cards for younger customers, covering everyday rewards and overseas spending.
The Chromo credit card launched on 5 September, while the TravelLah! Debit Card will be available from 13 September.
Chromo Credit Card Adjusts Rewards to Monthly Spending
Chromo is available to customers aged 21 to 29. Cardholders can earn up to 5% cashback on their two highest eligible local spending categories each month and 1% on other eligible local spending.
Eligible categories include dining, shopping, travel, transport, entertainment and wellness.
Cardholders can switch between cashback and miles once a month without losing rewards they have already earned.
The card also carries no foreign exchange fees on overseas spending, while its annual fee is waived for five years.
Chromo includes weekday deals across transport, travel, shopping, dining and entertainment, with discounts of up to 50% on selected offers from partners including Gojek, Trip.com, Shopee and Golden Village.
Cardholders can also access merchant offers in Malaysia, Japan and South Korea from brands including Haidilao, Starbucks, BicCamera and Innisfree.
Chan Sow Han, Head of Payments and Unsecured Lending at DBS Singapore, said,
“With Chromo, we are turning the traditional card rewards model around.
Instead of asking cardholders to decide upfront where they expect to spend, Chromo does the work for them and automatically awards bonus cashback based on where they spend most each month.”
TravelLah Debit Card Targets Overseas Spending
TravelLah! will be available to customers aged 16 and above through the DBS PayLah! app.
The debit card supports payments in more than 150 currencies using Visa exchange rates, with no additional mark-up or foreign exchange fees from DBS.
DBS will also waive its overseas ATM withdrawal fees, although charges imposed by ATM operators may still apply.
The card is linked to a separate Singapore dollar wallet within DBS PayLah!, allowing customers to set aside and manage their travel funds.
Users can top it up through their PayLah! Wallet or a linked DBS or POSB account.
Chan added,
“TravelLah! complements Chromo by making travel spending simpler, without the need to pre-convert or manage multiple currencies.
Together, these cards give young adults simple and intuitive ways to get more value from their spending, whether at home or overseas, with the flexibility to choose how they want to spend and be rewarded.”
Featured image: Edited by Fintech News Singapore, based on image by choudhary88991 via Magnific
