OCBC
Get up to 5% cashback on daily categories, S$160 monthly cashback cap and exclusive gifts for new cardmembers. Low annual income requirement for seniors.
The OCBC 365 Credit Card is one of the most versatile cashback options available for individuals in Singapore looking to maximise savings on everyday expenses. With up to 5% cashback on key spending categories and an attractive welcome bonus, this card stands out as a top contender. Key eligibility criteria include a minimum age of 21 with annual income requirements starting from S$15,000 for seniors, making it accessible for many.
Interest rates follow standard credit card terms at OCBC, and applicants can typically expect an annual fee of S$196.20, waived for the first two years. Monthly cashback is capped at S$160, and the minimum spend per month to maximise benefits is S$800. The card supports both local and overseas spend, with enhanced cashback at partners like Watsons, food delivery platforms, and streaming services.
How to apply for the OCBC 365 Credit Card
To apply, visit the OCBC website and complete the online form with personal and financial details. Ensure eligibility by meeting the minimum age and income requirements as stated. Upload required documentation, such as NRIC and income proof, and submit your application for review. Once approved, you will receive the card and can start enjoying cashback benefits immediately.
Pros of the OCBC 365 Credit Card
The most compelling advantage is the generous cashback across daily categories, such as 5% on dining and food delivery, and 3% on groceries and transport. The card’s monthly S$160 cashback cap is also higher than many competitors, allowing for substantial yearly savings. New members receive exclusive welcome gifts ranging from luggage to petrol vouchers, adding immediate value.
Cons of the OCBC 365 Credit Card
A primary drawback is the minimum monthly spend of S$800 to access the best cashback rates, which may be challenging for light spenders. Additionally, the cashback is capped monthly, so large spenders may not maximise on higher expenses. Excluded transactions like bill payments and certain merchant codes also reduce overall cashback potential for some users.
Verdict: Should you get the OCBC 365 Credit Card?
The OCBC 365 Credit Card is ideal for those with regular monthly expenses and a preference for steady, no-fuss cashback rewards. It suits cardholders who can consistently reach the minimum spend and value high cap limits. With attractive partner deals and welcome gifts, it remains a smart choice for maximising everyday savings, especially for families or individuals with diverse spending patterns.
