If you’re looking for a credit card that rewards you for your everyday spending, the OCBC 365 Credit Card might be just what you need. With cashback on everything from groceries to petrol, this card can help you save money on your daily expenses. Plus, with no minimum spend required, you can earn rewards no matter how much you spend.
The OCBC 365 Credit Card is designed to help you earn cashback rewards on your everyday spending. You can earn up to 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. Plus, you can earn 0.3% cashback on all other spending. With these rewards, you can save money on your daily expenses and earn rewards for the things you already buy.
If you’re interested in applying for the OCBC 365 Credit Card, you’ll need to meet certain eligibility requirements. You must be a Singaporean or Singapore PR above 21 years old with an annual income of at least S$30,000, or a foreigner above 21 years old with an annual income of at least S$45,000. Additionally, you’ll need to pay an annual fee of S$192.60, which is waived for the first two years. However, with the potential to earn cashback rewards on your everyday spending, this fee may be worth it for some users.
Key Takeaways
- The OCBC 365 Credit Card offers cashback rewards on everyday spending, including petrol, dining, and groceries.
- You can earn up to 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.
- To be eligible for the card, you must meet certain income requirements and pay an annual fee of S$192.60, which is waived for the first two years.
OCBC 365 Credit Card Overview
If you’re looking for a credit card that offers rewards and cashback in Singapore, then the OCBC 365 Credit Card could be the perfect choice for you. This credit card provides you with a range of benefits and perks that make it worth considering.
Key Features
The OCBC 365 Credit Card offers a range of key features that make it stand out from other credit cards in Singapore. Here are some of the most important features:
- Cashback: You can earn up to 6% cashback on fuel spend at all petrol service stations locally and overseas, 5% cashback on everyday dining (including local, overseas, and online food delivery), and 3% cashback on groceries, land transport, online travel, recurring telco and electricity bills. You can also earn 0.3% cashback on everything else.
- Categories: The card offers cashback on a wide range of categories, including dining, fuel, groceries, land transport, online travel, recurring telco and electricity bills.
- Annual Fee: The card has an annual fee of S$192.60, which is waived for the first two years. You can get the annual fee waived for subsequent years by spending at least S$10,000 on the card each year.
- Eligibility: The card is available to Singapore citizens, permanent residents, and foreigners with a minimum income of S$30,000 per annum.
Benefits and Perks
In addition to the key features mentioned above, the OCBC 365 Credit Card also offers a range of benefits and perks. Here are a few of them:
- Rewards: You can earn rewards points when you use the card, which can be redeemed for a range of items, including vouchers, miles, and cash rebates.
- Promotions: The card offers a range of promotions throughout the year, including cashback offers, discounts, and bonus rewards points.
- Singapore: The card is designed for use in Singapore, so you can enjoy cashback on a range of local categories, including dining, groceries, and land transport.
Overall, the OCBC 365 Credit Card is an excellent choice for anyone looking for a credit card that offers rewards and cashback in Singapore. With its range of benefits and perks, it’s definitely worth considering.
Earning Cashback Rewards
With the OCBC 365 Credit Card, you can earn cashback rewards on your everyday spending, which can help you save money in the long run. Here are the different categories where you can earn cashback:
Dining and Groceries
When you dine out or buy groceries, you can earn 6% cashback with the OCBC 365 Credit Card. This is a great way to save money on your food expenses, especially if you eat out frequently or buy groceries regularly. There is a minimum monthly spend of S$800 to earn the cashback, and the maximum cashback you can earn is S$80 per month.
Fuel and Transport
If you frequently drive or use public transport, you can earn cashback on your fuel and transport expenses with the OCBC 365 Credit Card. You can enjoy up to 22.92% fuel savings at Caltex (18% instant discount + 6% cashback on all fuel spend), or up to 20.2% fuel savings at Esso and Sinopec. You can also earn 3% cashback on your public transport expenses, such as bus and train rides. There is no minimum spend required to earn the cashback, and the maximum cashback you can earn is S$80 per month.
Utilities and Recurring Bills
You can also earn cashback on your utilities and recurring bills with the OCBC 365 Credit Card. You can earn 3% cashback on your electricity and water bills, as well as your telco bills. This is a great way to save money on your monthly expenses, especially if you have multiple bills to pay. There is no minimum spend required to earn the cashback, and the maximum cashback you can earn is S$80 per month.
Overall, the OCBC 365 Credit Card is a great choice if you want to earn cashback rewards on your everyday spending. With a maximum cashback of S$80 per month, you can save a significant amount of money on your expenses. Whether you dine out frequently, buy groceries regularly, or use public transport often, the OCBC 365 Credit Card can help you earn cashback and save money.
Understanding the Fees
If you are considering getting the OCBC 365 credit card, it is important to understand the fees associated with the card. In this section, we will break down the different fees that come with the card and how you can avoid them.
Annual Fee and Waivers
The OCBC 365 credit card has an annual fee of $196.20 (inclusive of 9% GST), which is relatively high compared to other credit cards in Singapore. However, the good news is that you can get the annual fee waived for the first two years if you meet the minimum spend requirement of $10,000 per year. This means that you need to spend an average of $833.33 per month to enjoy the annual fee waiver.
Transaction and Interest Charges
Apart from the annual fee, there are other charges that you need to be aware of when using the OCBC 365 credit card. These charges include:
- Late payment charge: $100
- Minimum monthly payment: 3% of the outstanding balance or $50, whichever is higher
- Interest rate: 25.92% p.a.
- Effective interest rate (EIR): 47.22% p.a.
- Foreign currency transaction fee: 2.8%
- Cash advance transaction fee: 6% of the amount withdrawn or $15, whichever is higher
- Overlimit fee: $40
It is important to note that the interest rate and EIR are among the highest in Singapore, so it is essential to pay your bills on time and avoid carrying a balance on your card. If you use your card for overseas transactions, you will also incur a foreign currency transaction fee of 2.8%.
Conclusion
In conclusion, the OCBC 365 credit card has a relatively high annual fee, but you can get it waived for the first two years if you meet the minimum spend requirement. There are also other charges that you need to be aware of, such as the interest rate, foreign currency transaction fee, and cash advance transaction fee. To avoid these charges, it is essential to pay your bills on time and avoid carrying a balance on your card.
Eligibility and Application
To apply for the OCBC 365 Credit Card in Singapore, you must meet the qualification criteria. The application process is simple and straightforward, and you can apply online or in person.
Qualification Criteria
To be eligible for the OCBC 365 Credit Card, you must be a Singaporean or Singapore PR above 21 years old with an annual income of at least $30,000. Foreigners above 21 years old with an annual income of at least $45,000 are also eligible to apply.
You will need to provide your NRIC, payslip, and income tax notice of assessment during the application process. The minimum income requirement must be met, and your credit score will be assessed to determine your creditworthiness.
Application Process
You can apply for the OCBC 365 Credit Card online or in person. If you choose to apply online, you can use MyInfo to complete the application process quickly and easily. MyInfo is a government service that allows you to retrieve your personal information and automatically fill in the application form.
To apply in person, you can visit any OCBC branch and bring along your NRIC, payslip, and income tax notice of assessment. The application process should take no more than 30 minutes, and you will receive a response within a few days.
In conclusion, the OCBC 365 Credit Card is a great choice for those who want to earn cashback on everyday spending. If you meet the qualification criteria, you can apply online or in person and start enjoying the benefits of the card right away.
Maximising Card Value
If you’re looking for a credit card that can help you save money while you spend, the OCBC 365 Credit Card is definitely worth considering. Here are some tips to help you maximise the value of your card.
Strategic Spending
To get the most out of your OCBC 365 Credit Card, it’s important to strategically plan your spending. The card offers cashback benefits for a range of categories, including dining, groceries, petrol, and more. By focusing your spending in these categories, you can earn more cashback rewards.
For example, if you spend at least S$800 per month on dining, groceries, and petrol, you can earn up to 6% cashback. You can also earn 3% cashback on land transport, online travel bookings, and recurring telco and electricity bills. By planning your spending around these categories, you can maximise the amount of cashback you earn.
Exclusive Promotions
In addition to its regular cashback benefits, the OCBC 365 Credit Card also offers exclusive promotions that can help you save even more money. For example, you can enjoy up to 20% off your Grab rides, up to 15% off at selected restaurants, and up to 8% off at selected retailers.
To take advantage of these promotions, simply use your OCBC 365 Credit Card when you make your purchases. You can also keep an eye out for special sign-up promotions, which can give you even more cashback rewards or other benefits.
Overall, the OCBC 365 Credit Card is a great choice for anyone who wants to save money while they spend. With its wide range of cashback benefits and exclusive promotions, it’s definitely worth considering if you’re looking for a new credit card. So why not apply for the OCBC 365 Credit Card today and start enjoying all its benefits, including travel insurance and access to the OCBC 360 account?
Frequently Asked Questions
What splendid promotions are currently available with the OCBC 365 Credit Card?
The OCBC 365 Credit Card offers a range of promotions that can help you save money. Currently, you can enjoy cashback of up to $160 when you spend a minimum of $1,600 with your card. Additionally, you can earn cashback of up to 6% on petrol, 5% on dining, and 3% on groceries, public transport, ride-hailing, pharmacy, streaming, and EV charging. Keep an eye out for new promotions that may become available in the future.
Could you elucidate the terms and conditions of the OCBC 365 Credit Card?
The terms and conditions of the OCBC 365 Credit Card are clearly outlined on the OCBC website. Some of the key terms and conditions include a minimum income requirement of $30,000 per annum, an annual fee of $192.60, and an interest rate of 26.88% per annum. It’s important to read the terms and conditions carefully before applying for the card.
What are the exhilarating benefits of using an OCBC 365 Credit Card?
The OCBC 365 Credit Card offers a range of benefits that can help you save money and make your life easier. Some of the benefits include cashback on petrol, dining, and groceries, as well as discounts on travel bookings and access to exclusive events and experiences. Additionally, you can enjoy free travel insurance coverage when you charge your travel expenses to your card.
What’s the minimum spend required to enjoy the cashback with the OCBC 365 Credit Card?
To enjoy the cashback benefits of the OCBC 365 Credit Card, you must spend a minimum of $800 per month. If you spend more than $1,600 per month, you can earn cashback of up to $160.
How can I gleefully check the cashback I’ve earned on my OCBC 365 Credit Card?
You can easily check the cashback you’ve earned on your OCBC 365 Credit Card by logging in to your OCBC online banking account. From there, you can view your account balance, transaction history, and cashback earnings.
What steps should I follow to swiftly activate my OCBC 365 Credit Card?
To activate your OCBC 365 Credit Card, simply follow the instructions provided with your card. Typically, you will need to call the OCBC customer service hotline or visit an OCBC branch to activate your card. Once your card is activated, you can start using it to earn cashback and enjoy the other benefits of the card.