Miles all blocked from 2020? Why not try these rewards ?, Money News

2020 and 2021 have made flight swaps nearly impossible. Find out how you can better use your huge bank of bank points and treat yourself to a well-deserved treat.

If you can’t remember the last time you went on vacation, you’re not alone. It’s been almost 18 months since this fateful travel advisory was implemented, coupled with still intact border closures at vacation hot spots across the globe. Frequent travelers and smart spenders would have been hit the hardest, having a large stash of bank points on hand but nowhere to go.

Converting those points to airline miles was once appealing, especially if you have a DBS credit card that accumulates points with no expiration date. After all, who doesn’t like to save hundreds or even thousands of dollars on airline tickets? Unfortunately, the future of leisure travel is still bleak at the moment, so anyone can guess when free flights can be redeemed again.

However, that doesn’t mean you have to look nostalgically at your points balance while waiting for travel restrictions to be lifted. You can still treat yourself to a well-deserved treat after going through a global pandemic and economic crisis.

Whether you’re looking for instant cash back or an upgrade to your WFH setup, here’s how your DBS Points can complement your lifestyle in the new normal.

1. Instant cashback on DBS PayLah!

Despite its name, DBS PayLah! app is more than just a digital wallet for in-store payments. You can order food, pay bills, top up your prepaid SIM card, the list goes on. The DBS PayLah! The app also contains the easiest method to redeem your DBS points. It only takes five taps in total for you to qualify for instant cashback at any merchant.

Here’s how:

  • Press 1: select the Rewards tab on the app
  • Press 2: choose the compensatory expenses
  • Press 3: Hit Offset on any eligible transaction
  • Press 4: Select Offset now after determining how many DBS points you want to use
  • Press 5: confirm by pressing YES, SHIFT NOW

Simple, right? Forget about sending multiple texts or logging into a separate platform just to convert your points into cashback. With DBS PayLah !, you can redeem your DBS points for any retail transaction made with your DBS credit card.

The conversion rate is attractive to boot, with 100 DBS points equivalent to $ 1. So if you’ve paid the annual fee for your DBS Altitude credit card, it’s already $ 50 in cash back. And if you have a POSB credit card, you can convert your Daily $ to cashback as well, although the conversion rate differs.

If you are not on DBS PayLah! app again, an exclusive offer is available. Receive $ 5 in cash when you sign up with promo code FIVELAH. Valid until July 31, 2021. General conditions apply.

Learn more about DBS PayLah!

2. Compensation expenses on the DBS Apple Rewards Store

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“WFH” entered the vocabulary of the workplace in 2020 and it doesn’t seem like an acronym most of us would soon forget. Individuals have had ample time to adjust to remote working and may even be looking to upgrade their setup. Because it’s quite clear now that a temporary home office won’t work if you’re there for the long haul.

And what better tools for the modern professional than Apple’s best products? At the DBS Apple Rewards Store, you can buy anything with your DBS points, up to AppleCare + coverage for your gadgets. And you don’t need to wipe out your entire point pool, as you can choose to pay with a combination of points and credit or debit card.

As for the conversion rate? 100 DBS points for $ 1 again. To sweeten the deal, shipping is free, so you don’t need to shell out extra for that brand new iPad Pro. And don’t worry about missing products, because the DBS Apple Rewards Store is just as well stocked as Apple’s own online store.

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3. Getting more value from DBS Travel Marketplace

It might be nicknamed the DBS Travel Marketplace, but this platform can do more than just book airline tickets. For starters, your DBS points here are worth twice as much as the options above. Specifically, 100 DBS points are worth $ 2. Then there are the special rates for selected hotels when you log in with your DBS bank details.

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Take the five-star Pickering PARKROYAL COLLECTION, for example. Its Urban Junior Suite starts at $ 345 a night when booked through the Pan Pacific website for a five-day stay at the end of July.

That figure drops to just $ 291 on the DBS Travel Marketplace. And since your DBS points here are double their usual value, you get a free stay for much less.

Don’t like staycations? How about another round of retail therapy, then? From a sublime bottle of single malt whiskey to a delicious box of chocolates to go with it, there are over 2,000 items to choose from in eight categories.

The best part? Each of them can be paid with your DBS points.

4. Redemption of credits in cash on the DBS Rewards catalog

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The DBS Rewards Catalog is full of redemption options. With your DBS Points, you can get movie tickets, credit card fee waivers, food vouchers, and more. However, you might want to dig a little deeper into the catalog and redeem your DBS points for cash credit instead. Why do you ask?

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Indeed, DBS currently offers cash redemptions at a reduced rate for four denominations, starting at $ 350 and up to $ 1,200. Normally, the conversion rate for cash credit redemptions would be 100 DBS points for $ 1. With this preferential rate in place, the same number of DBS points would be worth 29 to 33% more.

It might not seem like much, but you’ll save a ton of DBS points at these denominations. For example, 120,000 DBS points would normally be worth $ 1,200.

However, that same amount can now be redeemed with just 80,000 DBS points. You can save 40,000 points, which can be used for additional cash redemptions, instant cash back rewards, or other rewards.

Redemptions are also hassle-free, with credits disbursed within a week and used to offset the outstanding balance on your credit card bill.

5. Shopping center vouchers at participating locations

Type of voucher Mall Conversion rate
Good NEX NEX 1,000 DBS points = $ 10
MapleTree coupons VivoCity 1,000 DBS points = $ 10
UOL group vouchers KINEX, United Square, Velocity 1,000 DBS points = $ 10

With little overseas travel since March 2020, retail therapy at Singapore’s many malls is a way to soothe the restless soul. Despite the prevalence of online shopping, it’s still nice to stretch your legs and hit the mall every now and then. Nothing beats trying these joggers in the dressing room to see how comfortable they are.

And if you’re in select malls, you won’t have to worry about burning a hole in your wallet. You can redeem your DBS points on site at five shopping centers for UOL Group, NEX and MapleTree vouchers. 1,000 DBS points earn you a $ 10 voucher, identical to the conversion rate to offset your spending on DBS PayLah! application.

It is possible to redeem your DBS points for vouchers at other retailers, but there are several hurdles to overcome. First, you need to log into the DBS Rewards catalog. Second, it can take up to seven business days for your vouchers to be processed. That’s a far cry from the instant refunds you get at the aforementioned malls.

In conclusion

It’s a shame that pleasure travel still hasn’t resumed after so long, but your DBS points can do a lot more than just redeem for airline miles. Instant cashback, on-demand vouchers, stay and more are waiting for you. It is high time for you to treat yourself to a treat, because you have definitely earned it while going through a very uncertain year 2020 and 2021.

As an added bonus, no additional fees are charged and you don’t have to wait weeks for your redemption to be processed. We may be living in a new normal, but that doesn’t mean your spending is less rewarding thanks to the versatility of DBS Points. In fact, you might find that your DBS Points are more valuable than ever. Learn more about DBS PayLah! Learn more about DBS PayLah!

ALSO READ: Loyal Customers DBS / POSB: Which Credit Card Should You Add To Your Wallet?

If you are not on DBS PayLah! app again, an exclusive offer is available. Receive $ 5 in cash when you sign up with promo code FIVELAH. Valid until July 31, 2021. General conditions apply.

Learn more about DBS PayLah!

Learn more about DBS PayLah! Learn more about DBS PayLah! Learn more about DBS PayLah! Learn more about DBS PayLah! Learn more about DBS PayLah!

This article first appeared in SingSaver.com.sg.

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