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