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.