The DCS Sheng Siong Credit Card is designed for frequent shoppers of Sheng Siong, a popular supermarket chain in Singapore. As a niche product targeting grocery shoppers, it offers a variety of perks and benefits that cater specifically to this market segment.
In this detailed review, we’ll delve into the features, benefits, and potential drawbacks of the DCS Sheng Siong Credit Card, providing you with all the information you need to decide if this card is right for you.
DCS Sheng Siong Credit Card Review
Pros
- High Cashback Rate: Up to 5% cashback at Sheng Siong outlets.
- Rewards Points: Earn 1 point per dollar spent outside Sheng Siong, redeemable for a variety of rewards.
- Travel Benefits: Includes one free airport lounge visit per year and substantial travel insurance coverage.
- Welcome Offers: 2x GOTRIP luggage bags (worth S$500 total)
- Annual Fee Waiver: The annual fee is waived for the first year.
Cons
- Monthly Cap on Cashback: Cashback is capped at S$50 per month.
- Limited Supermarket Focus: Benefits are primarily tied to Sheng Siong, limiting the card’s utility for those who shop at multiple supermarket chains.
- Rebates Expiration: Cashback in the form of REBATE$ expires after 30 days, requiring frequent usage to maximize benefits​.
Cashback and Rebates
One of the primary benefits of the DCS Sheng Siong Credit Card is its cashback offer. Cardholders can enjoy up to 5% cashback on purchases made at Sheng Siong outlets, with a monthly cap of S$50 based on a maximum spend of S$1,000. This is a substantial benefit for those who frequently shop at Sheng Siong, providing significant savings over time.
Rewards Points
In addition to cashback, the card offers 1 Club Rewards Point per dollar spent outside Sheng Siong. These points can be redeemed for various rewards, including shopping and dining vouchers and air miles, adding an extra layer of value for cardholders​.
Welcome Offers
New cardholders are entitled to attractive welcome offers, such as two GOTRIP luggage bags worth S$500, upon meeting specific spending criteria. This promotion is valid until 30 June 2024 for new DCS card members who apply for two DCS credit cards and spend at least S$350 per month for two consecutive months from the card approval date.
Travel Perks
The card also includes travel-related benefits such as one complimentary visit per year to participating airport lounges worldwide. This is a nice perk for travellers, adding value beyond everyday grocery shopping.
Insurance Coverage
For regular credit cardholders, the DCS Sheng Siong Credit Card provides free insurance coverage, including up to S$1 million in personal accident protection, S$250,000 on-flight personal accident insurance, and travel inconvenience reimbursement.
Fees and Charges
- Annual Fee: S$196.20, waived for the first year​.
- Foreign Currency Transaction Fee: 3% of the transaction amount​​.
Eligibility Requirements
- Age: 21 years and above.
- Income: Minimum annual income of S$30,000
Comparison with Other Cards
BOC Sheng Siong Card
For Sheng Siong shoppers, the BOC Sheng Siong Card and the DCS Sheng Siong Credit Card are two notable options. The BOC Sheng Siong Card offers a higher rebate rate of 6% on Sheng Siong purchases, capped at S$45 per month, and provides 1.5% unlimited cashback on other spending with no minimum spend required. The DCS Sheng Siong Card offers a 5% rebate on up to S$1,000 spent per month at Sheng Siong, capped at S$45.87, with rebates expiring after 30 days. Additionally, it earns Club Rewards Points for spending outside Sheng Siong, redeemable for various rewards. Overall, the BOC card offers more flexibility with its unlimited cashback on non-Sheng Siong purchases.
Student and Low-Income Options
For students and those with lower incomes, the DCS Sheng Siong S$500 Credit Limit Card is a suitable option. It offers a 2% cashback on Sheng Siong purchases with no minimum income requirement for students and National Servicemen (NSFs). This card provides a manageable entry point into credit card usage while still offering valuable rebates and rewards​.
Conclusion
The DCS Sheng Siong Credit Card is a strong contender for frequent Sheng Siong shoppers, offering substantial cashback and rewards tailored to this market segment. Its additional benefits, such as travel perks and insurance coverage, add further value. However, those who prefer shopping at various supermarket chains or desire unlimited cashback options may find other cards more suitable.
Overall, if Sheng Siong is your primary grocery destination, the DCS Sheng Siong Credit Card is a worthy addition to your wallet, providing significant savings and valuable rewards tailored to your shopping habits.
