If you’re looking for a credit card that offers cashback on your everyday spending, the OCBC 365 Credit Card is a great option. With this card, you can enjoy up to 6% cashback on dining, online shopping, and overseas spending, as well as up to 3% cashback on groceries and recurring bills. However, to qualify for these cashback rewards, you need to meet the minimum spend requirement.
The minimum spend requirement for the OCBC 365 Credit Card is $800 per month, which can be quite challenging for some people. However, if you spend more than $1600 per month, you can enjoy even higher cashback rewards. It’s important to note that the minimum spend requirement applies to the total spending across all categories, not just a single category.
To maximise your cashback rewards with the OCBC 365 Credit Card, it’s important to plan your spending carefully. You can consider consolidating your bills and groceries to hit the minimum spend requirement, or using the card for big-ticket purchases like flights and hotel bookings. By doing so, you can earn significant cashback rewards and enjoy the benefits of this credit card.
Key Takeaways
- The OCBC 365 Credit Card offers cashback rewards on dining, online shopping, and overseas spending, as well as groceries and recurring bills.
- To qualify for cashback rewards, you need to meet the minimum spend requirement of $800 per month.
- You can maximise your cashback rewards by planning your spending carefully and consolidating your bills and groceries.
OCBC 365 Credit Card Overview
If you’re someone who spends a lot on everyday items such as groceries, dining, and petrol, the OCBC 365 Credit Card might be the perfect fit for you. Here’s a brief overview of the card’s key features and eligibility requirements to help you decide if it’s the right choice for you.
Key Features
The OCBC 365 Credit Card offers cashback on a wide range of everyday expenses, including 6% cashback on dining, 3% cashback on groceries, and 5% cashback on petrol. Additionally, cardholders can earn up to 22.92% fuel savings at Caltex (18% instant discount + 6% cashback on all fuel spend). The card also offers cashback on recurring bills such as telco bills and utilities, with 3% cashback on telco bills and 3% cashback on electricity and water bills.
To maximize your cashback, you will need to meet the minimum spend requirement of $800 per month. If you spend at least $1600 per month, you can earn up to $160 cashback per month. Otherwise, you can earn up to $80 cashback per month.
Eligibility Requirements
To apply for the OCBC 365 Credit Card, you must meet the following eligibility requirements:
- You must be a Singaporean citizen or permanent resident.
- You must be at least 21 years old.
- Your annual income must be at least $30,000 for Singaporeans and permanent residents, or $45,000 for foreigners.
- You must have a good credit score.
When applying for the card, you will need to provide the following documents:
- Your NRIC or passport.
- Your latest computerized payslip or Tax Notice of Assessment.
- For self-employed individuals, a copy of your latest Income Tax Notice of Assessment.
You can also apply for the card using MyInfo, which allows you to automatically fill in your personal and income information from government sources, making the application process faster and more convenient.
Overall, the OCBC 365 Credit Card is an excellent choice for those who spend a lot on everyday expenses and want to earn cashback on their purchases. With its wide range of cashback categories and attractive fuel savings, it’s definitely worth considering if you meet the eligibility requirements and can meet the minimum spend requirement.
Understanding Minimum Spend
As a cardholder of the OCBC 365 Credit Card, you are required to meet a minimum spending threshold to earn cashback rewards. In this section, we will help you understand what the minimum spend is and how to track your spend to ensure you meet the requirements.
Minimum Spending Threshold
The minimum spending threshold for the OCBC 365 Credit Card is S$800 per calendar month. This means that you must spend at least S$800 within a single calendar month to be eligible for cashback rewards. If you spend less than S$800, you will not receive any cashback rewards for that month.
It is important to note that the minimum spending threshold is based on the transaction date, not the posting date. This means that if you make a purchase on the last day of the month, but it does not post until the following month, it will not count towards your minimum spend for the current month.
Tracking Spend
To ensure that you meet the minimum spending threshold, you should keep track of your spend throughout the month. You can do this by checking your account balance and transaction history regularly. OCBC also provides a mobile app that allows you to track your spending in real-time.
If you find that you are not meeting the minimum spending threshold, you can adjust your spending habits to ensure that you meet the requirement. You can also consider spreading out your purchases throughout the month to ensure that you are consistently meeting the minimum spend.
By understanding the minimum spend requirement and tracking your spend, you can ensure that you are maximizing your cashback rewards with the OCBC 365 Credit Card.
Maximising Cashback
If you’re looking to get the most out of your OCBC 365 Credit Card, here are some tips to help you maximise your cashback.
Cashback Categories
The OCBC 365 Credit Card offers cashback on a wide range of categories, including dining, groceries, telco bills, online shopping, and more. To maximise your cashback, it’s important to understand which categories offer the highest rates.
For example, the card offers 6% cashback on dining, 3% cashback on groceries, and 5% cashback on telco bills. By prioritising your spending in these categories, you can earn more cashback on your everyday expenses.
Cashback Rates and Caps
It’s also important to be aware of the cashback rates and caps for each category. For instance, the card offers a maximum cashback of $80 per month for a minimum spend of $800, or $160 per month for a minimum spend of $1,600.
To maximise your cashback, try to hit the minimum spend requirements each month. If you’re not able to spend enough to reach the higher cashback tier, focus on spending in categories with higher cashback rates to make the most of your spending.
Strategic Spending
Finally, consider using your OCBC 365 Credit Card for strategic spending to maximise your cashback. For instance, you could use the card for recurring utility bills or online streaming services to earn cashback on expenses you’re already paying for.
You could also use the card for larger purchases, such as electronics or appliances, to earn a higher cashback rate. Just be sure to pay off your balance in full each month to avoid interest charges and fees.
By following these tips, you can make the most of your OCBC 365 Credit Card and earn cashback on your everyday spend.
Comparing OCBC 365 with Other Cards
OCBC 365 vs OCBC Infinity Cashback Card
If you are looking for a cashback card with no minimum spend requirement, then the OCBC Infinity Cashback Card might be a better option for you. With this card, you can earn up to 1.2% cashback on all your spend, with no cap on the cashback you can earn. However, it does come with an annual fee of $192.60, which is waived for the first two years.
On the other hand, the OCBC 365 Credit Card offers up to 6% cashback on dining, 3% on groceries, 5% on petrol, and 3% on recurring telco bills. You can earn up to $160 cashback per month with a minimum spend of $1,600. The annual fee is $192.60, but it is waived for the first two years.
OCBC 365 vs UOB One Card
The UOB One Card is another popular cashback card in Singapore. With this card, you can earn up to 5% cash rebates on all your spend, with a minimum spend of $500 per month for three consecutive months. However, the cashback is capped at $300 per quarter.
In comparison, the OCBC 365 Credit Card offers higher cashback benefits for specific categories, such as dining, groceries, petrol, and recurring telco bills. With a minimum spend of $1,600 per month, you can earn up to $160 cashback per month. The annual fee is $192.60, but it is waived for the first two years.
Overall, if you are looking for a card that offers cashback benefits on specific categories, then the OCBC 365 Credit Card might be a better option for you. However, if you prefer a card with no minimum spend requirement, then the OCBC Infinity Cashback Card might be a better fit. Finally, if you want a card that offers cashback benefits on all your spend, then the UOB One Card might be a better option.
Additional Perks and Savings
As a OCBC 365 Credit Card holder, you are entitled to various exclusive perks and savings that can help you save money on your daily expenses. In this section, we will discuss some of the most notable perks and savings that you can enjoy with your card.
Fuel Savings and Transport
One of the most significant perks of the OCBC 365 Credit Card is the fuel savings that you can enjoy at Caltex, Esso, and Sinopec petrol stations. With up to 22.92% fuel savings at Caltex (18% instant discount + 6% cashback on all fuel spend), you can save a significant amount of money on your petrol expenses. Additionally, you can enjoy up to 20.2% savings at Esso and up to 24% savings at Sinopec.
Apart from fuel savings, the OCBC 365 Credit Card also offers exclusive transport benefits. You can enjoy 3% cashback on your public transport expenses, including bus and train rides, as well as taxi and ride-hailing services. Moreover, you can also use the SimplyGo feature to tap and go with your card on buses and trains without the need for an EZ-Link card.
Exclusive Merchant Offers
The OCBC 365 Credit Card also offers exclusive merchant offers that can help you save money on your favourite brands, retailers, and products. You can enjoy discounts, vouchers, and cashback at various merchants, including Best Denki, Robinsons, and more. Additionally, you can also enjoy 3% cashback on your pharmacy, streaming, and electric vehicle charging expenses.
Overall, the OCBC 365 Credit Card is an excellent choice for anyone looking to save money on their daily expenses. With its fuel savings, transport benefits, and exclusive merchant offers, you can enjoy significant savings on your favourite brands and retailers.
Frequently Asked Questions
What exciting benefits can I expect with the OCBC 365 Credit Card?
The OCBC 365 Credit Card offers a range of exciting benefits. You can enjoy cashback on your everyday spending, including 6% cashback on petrol, 5% cashback on dining and food delivery, and 3% cashback on groceries, public transport, ride-hailing, pharmacy, streaming, and EV charging. Additionally, you can earn up to S$160 cashback when you spend a minimum of S$1,600, or up to S$80 cashback when you spend a minimum of S$800.
How do I maximise cashback with my OCBC 365 Credit Card?
To maximise cashback with your OCBC 365 Credit Card, make sure you meet the minimum spend requirement of S$800 or S$1,600 per month, depending on the cashback tier you want to qualify for. You should also use your card for everyday expenses, such as petrol, dining, groceries, and public transport. Finally, keep an eye out for promotions and offers that can help you earn even more cashback.
What promotions are currently available for the OCBC 365 Credit Card?
OCBC frequently offers promotions for the OCBC 365 Credit Card. Currently, you can get S$150 cashback when you spend a minimum of S$350 within 30 days of card application approval. You can also enjoy up to 22.92% fuel savings at Caltex when you use your card to pay for petrol.
Could you explain the cashback terms and conditions for the OCBC 365 Credit Card?
The OCBC 365 Credit Card offers cashback on eligible transactions, subject to certain terms and conditions. For example, cashback is capped at S$80 or S$160 per month, depending on your spending tier. Additionally, cashback is not awarded for transactions such as insurance payments, bill payments, and online purchases made on overseas websites.
How does the OCBC 365 Credit Card compare to other cards in terms of rewards?
The OCBC 365 Credit Card is a competitive option for those looking to earn cashback on their everyday spending. Compared to other cards, such as the Standard Chartered Smart Credit Card and Citi Cash Back + Card, the OCBC 365 Credit Card requires a minimum spend of S$800 or S$1,600 per month to qualify for cashback. However, it offers higher cashback rates on petrol and dining, making it a great choice for those who frequently spend on these categories.
What are the latest reviews saying about the OCBC 365 Credit Card?
The OCBC 365 Credit Card has received positive reviews from customers, who appreciate the generous cashback rates and wide range of spending categories. Customers also like the fact that they can earn cashback on everyday expenses, such as public transport and pharmacy purchases. Some customers have noted that the minimum spend requirement can be challenging to meet, but overall, the card is well-regarded for its rewards program.