OCBC Bank
Enjoy up to S$160 monthly cashback, 5% back on dining, and exclusive fuel discounts. Minimum spend tier S$800. Great for daily essentials!
The OCBC 365 Credit Card stands out for everyday savings and convenience. It offers up to S$160 cashback per month, with attractive reward rates on key spending categories. To qualify, Singaporeans or PRs aged 21 to 54 need a minimum annual income of S$30,000, while seniors (55 and above) require only S$15,000 per year. Foreigners can also apply with a S$45,000 minimum annual income. Annual principal fee is S$196.20 (waived for two years), and there’s a supplementary card fee of S$98.10 (also waived for two years).
How to Apply: Step-by-Step Guide
- Ensure you meet the eligibility and income requirements.
- Prepare necessary documents (NRIC/passport, income proof).
- Fill out the online application form on the OCBC website.
- Submit your documents as required for verification.
- Await approval notification from OCBC.
Pros: Key Advantages
The card rewards daily spends, offering 5% cashback on dining and food delivery, 6% on fuel, and 3% on groceries, streaming services, and EV charging. Big spenders can earn up to S$160 cashback monthly (S$1,920 annually), with modest minimum spend tiers starting at S$800.
Additionally, exclusive petrol discounts at Caltex, Esso, and Sinopec boost occasional drivers’ savings. A bundled OCBC 360 Account can also raise your savings interest rate further.
Cons: What to Consider
While the rewards are robust, the card does not award cashback for certain spending, such as payments to excluded merchants, fees, instalments, and tax bills. Purchases not qualifying for any category get only 0.25% cashback if the total spend is below S$800 per month.
Cashback is capped at S$160 monthly, and rewards depend on merchants’ category assignment, which can limit earnings if the merchant code is not recognised by OCBC.
Verdict: Is the OCBC 365 Credit Card Right For You?
The OCBC 365 Credit Card is an excellent choice for Singapore residents with regular expenses in dining, groceries, and petrol. Its clear tier structure and generous cashback rates make it easy to maximise rewards. However, those seeking rewards for niche or unclassified purchases may wish to consider other cards. For most, it’s a reliable and rewarding addition to the wallet.
