If you’re looking for a credit card that offers cashback rewards for everyday spending in Singapore, the OCBC 365 Credit Card may be just what you need. However, before you apply for this card, it’s important to understand the terms and conditions that govern its use. This article will provide an overview of the key features of the OCBC 365 Credit Card terms and conditions in Singapore.
To be eligible for the OCBC 365 Credit Card, you must be a Singapore citizen or permanent resident, and be at least 21 years old. You must also meet the minimum income requirement of $30,000 per annum for Singapore citizens and permanent residents, or $45,000 per annum for foreigners. If you meet these requirements, you can apply for the card online or at any OCBC branch.
One of the main benefits of the OCBC 365 Credit Card is its cashback rewards programme. You can earn up to 6% cashback on dining, online food delivery, and overseas spending, and up to 3% cashback on groceries, land transport, and online travel bookings. There is also a flat 0.3% cashback on all other spending. However, there are certain terms and conditions that apply, such as a minimum spending requirement of $800 per month to qualify for the higher cashback rates.
Key Takeaways
- The OCBC 365 Credit Card offers cashback rewards for everyday spending in Singapore.
- To be eligible for the card, you must be a Singapore citizen or permanent resident, and meet the minimum income requirement.
- The card’s cashback rewards programme has certain terms and conditions, such as a minimum spending requirement.
Eligibility and Application
When it comes to applying for the OCBC 365 credit card, there are a few eligibility requirements that you need to meet. In this section, we’ll take a closer look at the income requirement, as well as the age and residency requirements.
Income Requirement
To be eligible for the OCBC 365 credit card, you must have a minimum annual income of $30,000. This requirement applies to both Singaporeans and Permanent Residents (PRs). If you are a foreigner, you must have a minimum annual income of $45,000 to be eligible for the card.
Age and Residency
To apply for the OCBC 365 credit card, you must be at least 21 years old. If you are a Singaporean or PR, you must also be a resident of Singapore. If you are a foreigner, you must have a valid employment pass and be a resident of Singapore.
When you’re ready to apply for the OCBC 365 credit card, the process is simple and straightforward. You can apply online through the OCBC website, or you can visit a branch in person to fill out an application. Keep in mind that you’ll need to provide proof of your income and residency when you apply.
Overall, if you meet the eligibility requirements and are looking for a credit card that offers generous cashback rewards, the OCBC 365 credit card is definitely worth considering. So why not apply today and start enjoying the benefits of this fantastic credit card?
Cashback Rewards Programme
If you are looking for a credit card that rewards you for your everyday spend, the OCBC 365 Credit Card might be the right fit for you. This card offers a cashback rewards programme, which allows you to earn cashback on your eligible spend. Here’s what you need to know about the cashback rewards programme.
Cashback Rates and Categories
With the OCBC 365 Credit Card, you can earn cashback on a variety of spend categories. These categories include dining, groceries, petrol, and more. The cashback rates vary depending on the category, with some categories offering higher cashback rates than others. For example, you can earn up to 6% cashback on dining spend, up to 3% cashback on groceries spend, and up to 22.92% fuel savings at Caltex.
Minimum Spend Requirements
To qualify for cashback, you need to meet the minimum spend requirement for the month. If you fail to meet the minimum spend requirement, you will only earn 0.3% cashback on your eligible spend. The minimum spend requirement is S$800 per calendar month.
Cashback Cap and Exclusions
There is a cap on the amount of cashback you can earn per month. The cashback cap is S$80 per calendar month if you spend a minimum of S$800, and S$160 per calendar month if you spend a minimum of S$1,600. Additionally, there are certain exclusions to the cashback rewards programme. These exclusions include balance transfers, cash advances, instalment payment plans, and more. Be sure to read the terms and conditions carefully to understand what is and isn’t eligible for cashback.
In summary, the OCBC 365 Credit Card offers a cashback rewards programme that allows you to earn cashback on your everyday spend. With a variety of spend categories and cashback rates, there are plenty of opportunities to earn rewards. Just be sure to meet the minimum spend requirement and understand the cashback cap and exclusions to get the most out of the programme.
Additional Benefits and Savings
The OCBC 365 Credit Card offers a range of additional benefits and savings, making it an attractive option for those looking to save money on everyday expenses.
Fuel Savings
With the OCBC 365 Credit Card, you can enjoy up to 6% cashback on fuel spend at all petrol service stations locally and overseas. This includes popular petrol stations such as Caltex and Esso. This means that you can save money on your daily commute or road trips, making it a great option for those who frequently drive.
Dining and Food Delivery Offers
If you enjoy dining out or ordering food delivery, the OCBC 365 Credit Card has got you covered. You can earn up to 5% cashback on all dining expenses, including local, overseas and online food delivery. This includes popular food delivery services such as Grab and RedMart. This means that you can enjoy your favourite meals while saving money at the same time.
Online and Overseas Purchases
The OCBC 365 Credit Card also offers cashback on online and overseas purchases, making it a great option for those who frequently shop online or travel abroad. You can earn up to 3% cashback on groceries, land transport, online travel, recurring telco and electricity bills. This includes popular online shopping platforms such as Amazon and Lazada.
Overall, the OCBC 365 Credit Card offers a range of benefits and savings, making it a great option for those looking to save money on everyday expenses. Whether you’re looking to save money on fuel, dining out or online shopping, the OCBC 365 Credit Card has got you covered. With its attractive cashback offers, it’s no wonder that it’s a popular choice among Singaporeans.
Fees and Charges
When it comes to credit cards, it’s important to understand the fees and charges associated with them. The OCBC 365 Credit Card has a few fees and charges that you should be aware of. Here’s what you need to know.
Annual Fees and Waivers
The OCBC 365 Credit Card has an annual fee of $192.60. However, you can enjoy a waiver of this fee for the first two years if you spend at least $10,000 annually. If you do not meet this spending requirement, the annual fee will be charged to your account.
Interest Rates and Late Payment Charges
The interest rate for the OCBC 365 Credit Card is 25.92% per annum. If you do not pay your balance in full by the due date, you will be charged interest on the outstanding balance.
Late payment charges are also applicable if you do not make your payment on time. The late payment charge for the OCBC 365 Credit Card is $100. To avoid late payment charges, it’s important to make your payments on time.
Fee Waiver
If you are unable to pay your outstanding balance in full, you may be charged a finance charge. However, you can enjoy a fee waiver on your finance charge if you make a minimum payment of $50 or 3% of your outstanding balance, whichever is higher.
Annual Fee Waiver
To enjoy an annual fee waiver for your OCBC 365 Credit Card, you must spend at least $10,000 annually. If you do not meet this spending requirement, the annual fee will be charged to your account.
In conclusion, the OCBC 365 Credit Card has a few fees and charges that you should be aware of. By understanding these fees and charges, you can better manage your credit card and avoid unnecessary fees.
Payment Options and Flexibility
When it comes to payment options, the OCBC 365 Credit Card offers a range of choices to suit your needs. Whether you prefer to pay in instalments or in one lump sum, the card has you covered.
Instalment Payment Plans
The OCBC 365 Credit Card offers a range of instalment payment plans to help you manage your expenses. With the PayLite option, you can convert your purchases into monthly instalments at a low interest rate. This is a great option if you need to make a large purchase but don’t want to pay for it all at once.
Cash-on-Instalments
If you need cash quickly, the Cash-on-Instalments option allows you to convert your credit limit into cash. This is a great option if you need to pay for unexpected expenses or emergencies. With Cash-on-Instalments, you can choose to repay the amount over a period of time that suits you, at a low interest rate.
The OCBC 365 Credit Card also offers a range of bill payment options. You can pay your utility bills, phone bills, and even tax payments using your card. This is a convenient option if you want to consolidate your bills and pay them all at once.
Overall, the OCBC 365 Credit Card offers a range of payment options to suit your needs. Whether you prefer to pay in instalments or in one lump sum, the card has you covered. With the added convenience of bill payments and tax payments, the card is a great choice for those looking for flexibility and convenience.
Frequently Asked Questions
What fabulous benefits can I enjoy with the OCBC 365 Credit Card?
With the OCBC 365 Credit Card, you can enjoy a range of exciting benefits, including 6% cashback on all dining transactions, 3% cashback on online shopping, 3% cashback on groceries, and 5% cashback on fuel purchases. Additionally, you can earn cashback on all other spend categories, making your everyday expenses more rewarding.
How can I qualify for the delightful cashback offers on the OCBC 365 Credit Card?
To qualify for the cashback offers on the OCBC 365 Credit Card, you need to meet the minimum spend requirement of $800 per month. The cashback will be capped at $80 if you spend between $800 to $1,599 and $160 if you spend above $1,600.
Is there a minimum spend required to relish the rewards of the OCBC 365 Credit Card?
Yes, there is a minimum spend requirement of $800 per month to qualify for the cashback offers on the OCBC 365 Credit Card. The minimum spend requirement can be aggregated between the Principal and Supplementary Cardmembers.
What’s the scoop on the latest OCBC 365 Credit Card promotions?
The latest OCBC 365 Credit Card promotions can be found on the OCBC Bank website. Be sure to check the terms and conditions of each promotion before participating.
How do I go about cancelling my OCBC 365 Credit Card, should the need arise?
To cancel your OCBC 365 Credit Card, you can contact the OCBC Bank customer service hotline or visit a branch. Be sure to settle any outstanding balances before cancelling your card.
Are there any annual fees associated with the OCBC 365 Credit Card, and how can they be waived?
Yes, there is an annual fee of $192.60 for the OCBC 365 Credit Card. However, the annual fee can be waived if you spend a minimum of $10,000 in one year. Alternatively, you can apply for the OCBC 365 Credit Card as a supplementary cardmember, and the annual fee will be waived for the first two years.