If you’re looking for a credit card in Singapore, you may have come across the OCBC 365 and UOB One credit cards. Both of these cards offer competitive rewards and benefits, making it difficult to decide which one to choose. In this article, we’ll compare the two cards to help you determine which one is the best fit for you.
When comparing the OCBC 365 and UOB One credit cards, there are several factors to consider. These include eligibility and application requirements, rewards and benefits, and additional perks and partnerships. By weighing the pros and cons of each card, you can make an informed decision about which one is right for you.
Whether you’re a frequent traveller, a foodie, or someone who enjoys shopping, there’s a credit card out there that can help you maximise your rewards and benefits. Let’s dive into the details of the OCBC 365 and UOB One credit cards to see which one is the best fit for your lifestyle and spending habits.
Key Takeaways
- The OCBC 365 and UOB One credit cards offer competitive rewards and benefits.
- To determine which card is right for you, consider factors such as eligibility and application requirements, rewards and benefits, and additional perks and partnerships.
- By carefully weighing the pros and cons of each card, you can choose the one that best fits your lifestyle and spending habits.
Comparing OCBC 365 and UOB One Credit Cards
If you’re looking for a credit card that offers cashback and rewards, you might be considering the OCBC 365 and UOB One credit cards. Both cards are popular in Singapore, and offer a range of benefits. In this section, we’ll compare the two cards across three key areas: cashback and rewards, interest rates and savings, and fees and charges.
Cashback and Rewards
Both the OCBC 365 and UOB One credit cards offer cashback and rewards. However, there are some key differences between the two. The OCBC 365 card offers cashback on a range of categories, including dining, groceries, petrol, and more. You can earn up to 6% cashback on these categories, depending on your spending. The UOB One card also offers cashback, but it’s based on a quarterly spend. If you spend a minimum of $500 each month for three months, you can earn up to 5% cashback on your spending.
Interest Rates and Savings
If you’re looking for a credit card that offers savings and interest, the UOB One card might be the better option. The card offers a high interest rate on your savings, as long as you meet the minimum spending requirements. On the other hand, the OCBC 365 card doesn’t offer any interest on your savings. However, it’s worth noting that the UOB One card has a higher minimum spending requirement than the OCBC 365 card.
Fees and Charges
When it comes to fees and charges, both cards have some similarities. For example, both cards have an annual fee of $192.60. However, there are some differences to consider. The UOB One card has a waiver for the first year, while the OCBC 365 card has a waiver for the first two years. Additionally, the UOB One card has a higher minimum spending requirement than the OCBC 365 card.
Overall, both the OCBC 365 and UOB One credit cards have their pros and cons. It’s important to consider your spending habits and needs when choosing a card. If you’re looking for a card with cashback rewards, the OCBC 365 might be the better option. On the other hand, if you’re looking for a card with high interest rates and savings, the UOB One card might be the better choice.
Eligibility and Application Requirements
If you’re interested in applying for either the OCBC 365 Credit Card or UOB One Card, there are a few eligibility and application requirements to keep in mind.
Minimum Income and Age
To apply for the UOB One Card, you must be at least 21 years old and have a minimum annual income of $30,000. Meanwhile, the OCBC 365 Credit Card has the same age requirement, but a slightly lower minimum annual income of $20,000.
Credit and Salary Criteria
Both cards require applicants to have a good credit score and a stable source of income. If you’re a Singaporean or Permanent Resident, you’ll need to provide proof of your income, such as your latest payslip or tax assessment. Foreigners will need to provide additional documentation, such as a valid work permit or employment pass.
It’s worth noting that the UOB One Card offers additional benefits for those who also have a UOB One Account. To qualify for the account, you’ll need to have a minimum salary credit of $2,000 per month and make at least three GIRO debit transactions per month. The OCBC 365 Credit Card is also linked to the OCBC 360 Account, which requires a minimum balance of $3,000 to earn the highest interest rates.
Overall, both cards have similar eligibility and application requirements, with the main difference being the minimum annual income requirement. Regardless of which card you choose, make sure to carefully review the eligibility criteria and application process before submitting your application.
Maximising Benefits with OCBC 365 and UOB One
When it comes to choosing the right savings account and credit card combination in Singapore, OCBC 365 and UOB One are two popular options that offer attractive benefits. By understanding the features of both accounts and optimising your spending habits, you can maximise the benefits of each account.
Bonus Interest and Account Features
Both OCBC 365 and UOB One offer bonus interest rates when you meet certain criteria. For OCBC 365, you can earn up to 2.45% p.a. bonus interest on your savings account when you credit your salary and spend a minimum of $800 on the card each month. On the other hand, UOB One offers up to 3.33% p.a. bonus interest on your savings account when you credit your salary and spend a minimum of $500 on the card each month.
In addition to bonus interest rates, both accounts offer other features that can help you maximise your savings. For example, OCBC 365 offers cashback on recurring bills such as utilities and telecommunications, while UOB One offers cashback on a wide range of spending categories including groceries, petrol, and dining.
Optimising Card Spending
To maximise the benefits of your credit card, it’s important to optimise your spending habits. For OCBC 365, you can earn up to 6% cashback on dining, 3% cashback on groceries, and 5% cashback on petrol. To maximise your cashback, consider using the card for these categories and meeting the minimum spend requirement each month.
For UOB One, the cashback rates are tiered based on your spending. For example, if you spend $500 on the card each month, you can earn up to 3.33% cashback on all spending categories. If you spend $1,000 on the card each month, you can earn up to 5% cashback on all spending categories. To maximise your cashback, consider using the card for all your spending and meeting the minimum spend requirement each month.
In conclusion, by understanding the features of both OCBC 365 and UOB One and optimising your spending habits, you can maximise the benefits of each account. Whether you’re looking to earn bonus interest on your savings or cashback on your spending, these accounts offer attractive benefits that can help you save more.
Lifestyle and Spending Categories
When it comes to choosing between OCBC 365 and UOB One, it’s essential to consider your lifestyle and spending habits. Both accounts offer rewards and cashback in different categories, so it’s important to choose the one that aligns with your spending.
Dining and Groceries
If you are someone who frequently dines out or spends a lot on groceries, then the OCBC 365 account might be the best fit for you. With OCBC 365, you can earn up to 6% cashback on dining, 3% on groceries, and 3% on online food delivery. On the other hand, UOB One offers up to 5% cashback on dining, but only if you spend at least $500 on the card each month. UOB One also offers up to 3.88% rebate on groceries, but only if you spend at least $500 on the card each month.
Transport and Fuel
If you spend a lot on fuel, then both OCBC 365 and UOB One offer attractive rewards. With OCBC 365, you can earn up to 23.9% fuel savings at Caltex and up to 20.2% at Esso. UOB One offers up to 24% fuel savings at Shell and up to 20.8% at SPC. Additionally, both accounts offer cashback on public transport. OCBC 365 offers up to 3% cashback on SimplyGo rides, while UOB One offers up to 5% cashback on all public transport spend.
Retail and Online Shopping
If you frequently shop at retail stores or online platforms like Shopee, then UOB One might be the better choice for you. UOB One offers up to 5% cashback on all retail spend and up to 10% cashback on online travel bookings. OCBC 365, on the other hand, only offers 3% cashback on online air and cruise ticket bookings.
In conclusion, both OCBC 365 and UOB One offer attractive rewards and cashback in different categories. It’s important to choose the account that aligns with your spending habits to maximize your savings.
Additional Perks and Partnerships
When choosing between OCBC 365 and UOB One, it’s essential to consider the additional perks and partnerships that come with each card.
Insurance and Investment Products
Both OCBC and UOB offer a range of insurance and investment products to their customers. However, UOB One cardholders can enjoy exclusive promotions and discounts on selected products, such as insurance policies and unit trusts. On the other hand, OCBC offers a broader range of insurance products, including travel insurance, personal accident insurance, and home insurance.
Local and Overseas Spending
If you’re a frequent traveler, you’ll want to consider the perks that come with each card for local and overseas spending. UOB One cardholders can enjoy up to 10% cashback on UOB Travel bookings and up to 3% cashback on overseas spending. Meanwhile, OCBC Titanium Rewards cardholders can earn up to 4 miles per dollar spent on overseas shopping, and OCBC Frank cardholders can earn up to 6% cashback on local entertainment, dining, and online shopping.
When it comes to local spending, both cards have their advantages. UOB One cardholders can earn up to 5% cashback on selected categories, such as dining, groceries, and petrol. Meanwhile, OCBC 365 cardholders can earn up to 6% cashback on dining, online travel, groceries, telco bills, and petrol.
In conclusion, both OCBC 365 and UOB One cards offer a range of additional perks and partnerships that can help you save money and earn rewards. It’s essential to consider your spending habits and travel plans to choose the card that’s right for you.
Frequently Asked Questions
What are the perks of using the OCBC 365 credit card over the UOB One card?
The OCBC 365 credit card offers a wide range of cashback benefits on everyday expenses such as dining, petrol, and groceries. You can earn up to 6% cashback on dining, 3% on online travel, 5% on petrol, and 3% on groceries with a minimum spend of $800 per month. Additionally, you can enjoy discounts on selected dining outlets, as well as access to exclusive promotions and deals.
How do cashback benefits compare between the OCBC 365 and UOB One credit cards?
While both credit cards offer cashback benefits, the UOB One card operates on a tiered system based on your monthly spend. You can earn up to 5% cashback on all spend with a minimum spend of $2,000 per month. However, the cashback rates for the UOB One card are capped at $300 per quarter. On the other hand, the OCBC 365 card offers higher cashback rates on specific categories, but with a minimum spend of $800 per month.
Can you highlight the differences in salary crediting requirements for OCBC 365 and UOB One accounts?
The UOB One account requires a salary credit of at least $2,000 per month, while the OCBC 365 account does not require any salary credit. However, if you credit your salary to the OCBC 365 account, you can enjoy higher interest rates of up to 2.4% per annum.
Which credit card offers better dining and fuel rewards, OCBC 365 or UOB One?
The OCBC 365 credit card offers higher cashback rates on dining and fuel, with up to 6% cashback on dining and 5% cashback on petrol. The UOB One card, however, offers a flat rate of 5% cashback on all spend, including dining and fuel, with a minimum spend of $2,000 per month.
What are the latest reviews saying about the OCBC 365 and UOB One credit cards?
Recent reviews of the OCBC 365 credit card have praised its generous cashback rates and wide range of benefits, including discounts on dining and shopping. The UOB One card has also received positive reviews for its tiered cashback system and high cashback rates on all spend.
How do the annual fees for the OCBC 365 and UOB One credit cards stack up against each other?
Both credit cards have similar annual fees, with the UOB One card having an annual fee of $192.60, waived for the first year, and the OCBC 365 card having an annual fee of $192.60, waived for the first two years and subsequently with a minimum spend of $10,000 per year. However, the OCBC 365 card offers more value for money with its higher cashback rates and wider range of benefits.