|Highlights||Credit Card Feature|
|Things We Like||Up to 23% fuel savings at Caltex petrol stations|
|Our Least Favourite||Minimum $600 monthly spend to earn high cashback|
|Our Verdict||Great card if you frequently dine out, buy groceries or do online shopping|
OCBC 365 Credit Card is one of the most popular credit cards in Singapore, and with good reason. This cashback credit card from OCBC comes loaded with potential savings that make sense for most Singaporeans. Add to that Visa Signature benefits and OCBC deals, and this card really looks like a one-stop solution for all your payment and lifestyle needs.
But there are other cards out there that can easily challenge the 365 card for the position of top all-round credit card champion. If you want to find out exactly how OCBC 365 Credit Card helps you save and how it compares to competitors, just read this GET.com review!
|Credit Card||Features||Intro Interest p.a.||Standard Interest p.a.||Annual Fee||Minimum Income||We least like||Related links|
OCBC 365 Credit Card
|Transfer your outstanding balances on any other bank's credit card or credit line to OCBC at 0% nominal interest rate for 3/6/12 months with upfront processing fee starting at 1.80%||26.88% per annum||$192.60 a year (First 2 years free)||S$30,000 and above for Singaporeans and Singapore PRs, S$45,000 and above for foreigners||Related Links Read our review of OCBC 365 Credit Card or view more details of OCBC 365 Credit Card. See more OCBC credit cards.|
Things We Like About OCBC 365 Credit Card
It gives you 6% cashback on weekend dining. Use this card to pay for your weekend dining in Singapore and you will earn 6% cashback on your spending. Now here's a card you will want to take with you when you explore our nations restaurants over the weekend!
You also earn 3% cashback on local weekday dining and all overseas dining. This is where the card becomes more practical. Every time you use this card to pay for your workday lunches and other dining over weekdays, you earn 3% cashback. When you travel outside of Singapore, you earn 3% on all your dining purchases week-round.
3% cashback for online spending. This is obviously great news for online shopping fans, but even if you don't shop online this perk can save you money. That's because you also earn this 3% cashback on some non-shopping online transactions like ordering food online, purchasing airline tickets, and more. There are some online payments which you will not earn cashback on, and these include payments of utility bills and payments to schools, hospitals, professional services providers, parking lots, banks, insurance companies and other financial institutions. There are some additional exclusions, but you can still earn cashback on a large part of your online transactions.
You get 3% cashback at local supermarkets. Groceries are one expense that almost everyone has to deal with, and this card lets you save by earning cashback at supermarkets in Singapore.
3% cashback for payments of recurring telco bills. This card is a good alternative to getting a dedicated M1, SingTel or Starhub credit card. You earn 3% cashback when you pay your recurring bills from SingTel, StarHub or M1.
You earn 5% on nett petrol purchases. This card has special offers that let you save a lot of money at Caltex and Esso, but even if you tank up at other petrol stations, you still earn 5% cashback on your fuel purchases.
You enjoy up to 23% petrol savings. You can get up to 23% fuel savings at Caltex service stations. You can enjoy 5% cashback on fuel spend at all other petrol service stations.
3% cashback on your kid's medical spending. Alright, not everyone has a child, but in case you do have children (and a Child Development Account with OCBC Bank), you can also earn 3% cashback on over the counter payments you make at dental practices, cord blood banking expenses, clinics and hospitals.
You get 0.3% on all other spending. Every other purchase you charge to this card earn 0.3%, which may not be anything to write a song about, but it adds up. Just be aware that if you don't reach the minimum card spend every month, this 0.3% is all the cashback you will earn. More on this below.
Up to $200,000 complimentary travel insurance. Singaporeans love to travel, and we do it quite often since we live on a small island (you know how hard it can be to book an air ticket during holidays). That makes travel insurance pretty important and makes this a great benefit. You also get to enjoy up to S$400 coverage for Baggage Loss (more than 48 hours) when you charge your return air tickets to your OCBC 365 Credit Card.
Enjoy the Visa Signature Concierge service. Not that you necessarily need a person on standby to take your calls. But it does make you feel good if you can get assistance with your trip planning, hotel reservations, flight reservations, restaurant reservations, car rentals, event ticket bookings and many other requests, whenever you want. The concierge is available 24/7.
Annual fee waiver. This card has a $192.60 annual fee, waived for 2 years, unlike many other credit cards that only offer a first-year waiver.
Our Least Favourite Things About OCBC 365 Credit Card
You need to spend a minimum of $600 monthly to earn additional cashback. Don't expect to earn that 3%, 5%, or 6% cashback just because you use the card at the right place. There's a minimum spending requirement of $600 based on posted transactions to this card each calendar month. If you spend $599 in a month, you will only get 0.3% cashback. So you die die must spend that $1!
Cashback is capped at $80 monthly. Considering that most rewards credit cards have caps as low as $20 per month, this $80 per calendar month cap is actually one of the highest around. You could earn up to $960 cashback every year using this card.
How Other Cards Compare With OCBC 365 Credit Card
|Intro APR:||Transfer your outstanding balances on any other bank's credit card or credit line to OCBC at 0% nominal interest rate for 3/6/12 months with upfront processing fee starting at 1.80%|
|Regular APR:||26.88% per annum|
|Annual Fee:||$192.60 a year (First 2 years free)|
|Regular APR:||24.99% p.a.|
|Annual Fee:||S$171.20 (inclusive of GST) First Year Fee Waiver|
OCBC 365 Credit Card gives you high cashback on purchases that most Singaporeans make. It has easy-to-reach minimum spending requirements and a high cap on the amount of cashback you can earn.
So if you frequently dine out, buy groceries or do online shopping, this card will probably suit your lifestyle quite well.
If you drive a lot, this card could also save you quite some money on petrol, when you fill up at Caltex. That's a nice perk, as you don't just get up to 23% savings on petrol with any card. It also gives you 5% cashback at all other petrol service stations.
If you spend at least $600 monthly with your card and want to earn high cashback on dining and a lot of other everyday spending, OCBC 365 Credit Card is a good fit for your lifestyle.
But if you don't want to spend too much time thinking about which card to use to get the maximum cashback, then The American Express® True Cashback Card might be more suitable for you.