DBS is updating the terms and conditions for its popular DBS yuu Card, introducing a series of new reward exclusions that will take effect on May 1, 2026. The move is part of a broader effort by the bank to align the yuu Card’s rewards structure with the rest of its credit card portfolio.
For most cardholders, the announcement is more of a housekeeping exercise than a significant devaluation. The core value proposition—specifically the high earn rates at partner merchants—remains intact. The new exclusions primarily target niche spending categories and “quasi-cash” transactions that were already restricted across other DBS rewards products.
The updated DBS yuu Card rewards exclusions are designed to close gaps in the rewards programme, ensuring that points are not earned on transactions that function more like cash transfers than retail spending. This includes a range of professional services, financial institution loads and specific government or political contributions.
Breaking down the new exclusions
The most substantive changes appear in the rewards exclusions section of the terms and conditions. DBS is utilizing Merchant Category Codes (MCC) to define which transactions will no longer earn points. While these codes can seem opaque to the average consumer, they generally cover categories that are rarely the primary use case for a rewards-focused card.
Key categories now excluded from earning rewards include medical and dental equipment, insurance services, and real estate rentals. The bank is tightening rules around “quasi-cash,” which includes remote stored value loads and money transfers through financial institutions.
| Category | MCC Code | Description |
|---|---|---|
| Health & Professional | 5047, 8999 | Medical/Dental equipment and general professional services |
| Financial & Insurance | 5960, 6050 | Insurance services and financial institution quasi-cash |
| Stored Value/Transfers | 6529, 6530, 6534 | Remote stored value loads and money transfers |
| Other Services | 8651, 8699 | Political and membership organisations |
This alignment follows a similar update DBS implemented for its generic rewards cards in December 2025. By mirroring those terms, the bank is essentially bringing the yuu Card “up to speed” with the standard exclusions applied across its other credit offerings.
The impact on AXS and “edge case” spending
While the general user may be unaffected, those who used the card for specific payment gateways may notice a change. Historically, some payments made via AXS were able to earn yuu Points, albeit at a significantly lower rate than the card’s headline offers. These rates had already been reduced in October 2025 to 0.5 yuu Points per S$1 (approximately 0.14 miles per dollar).
With the new alignment, these types of payments are expected to fall under the “quasi-cash” or “financial institution” exclusions, effectively ending the ability to earn points on AXS transactions. This is a common trend among Singaporean banks as they move to prevent “manufactured spending,” where users cycle funds through payment gateways to earn rewards without genuine retail consumption.
Despite online speculation regarding the potential loss of rewards for Singtel kiosk payments or DFI vouchers, there is currently no language in the updated terms that explicitly removes these specific benefits. Cardholders are encouraged to continue their usual spending patterns while remaining mindful of the May deadline.
Core benefits and the yuu ecosystem
It’s important to distinguish between these general exclusions and the card’s “Special Earn” rates. The primary draw of the DBS yuu Card remains its ability to earn 10 miles per dollar (mpd) at a specific set of partner merchants. This high earn rate is not affected by the May 1 updates.
To qualify for the 10 mpd rate, cardholders must still meet the minimum spend requirement of S$800 per calendar month and transact with at least four different merchants within that same month. This spend can be on any retail transaction, not just at yuu partners.
The high-reward ecosystem continues to cover a wide array of daily essentials, including:
- Groceries: Cold Storage, CS Fresh, Giant, and Jasons Deli.
- Health & Beauty: Guardian.
- Transport & Delivery: Gojek, Foodpanda (including panda mart), and SimplyGo for bus and train rides.
- Retail & Services: 7-Eleven (Visa only), CHAGEE (via app), and Singtel shops.
Choosing between Visa and AMEX
For those considering which version of the card to use, the choice often comes down to acceptance and specific fees. The Visa variant is generally more versatile, notably being accepted at 7-Eleven and earning rewards at Charge+. Conversely, the American Express version often features a slightly lower foreign currency (FCY) transaction fee of 3%, compared to 3.25% for Visa, and provides access to occasional AMEX-specific offers.
But, given the card’s design as a local rewards powerhouse, neither version is optimized for overseas spending. Users are generally better served by dedicated travel cards to avoid the FCY fees entirely.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Credit card terms can change; please refer to the official DBS Terms and Conditions for the most current information.
Cardholders should monitor their monthly statements leading up to May 2026 to ensure their spending habits align with the new exclusions. The next major checkpoint for users will be the official implementation date on May 1, 2026, after which any transactions falling under the new MCC exclusions will cease to accrue points.
Do you think these changes will affect your spending habits? Share your thoughts in the comments below or share this guide with fellow rewards seekers.
