OCBC 365 Card
Earn 6% cashback on Petrol, 5% cashback on Dining, 3% cashback on Groceries, Land Transport, Streaming, Electric Vehicle Charging, Watsons, Utilities
OCBC 365 Card Overview:
This card is an all rounded great cashback credit cards for someone who just wants one cashback card and is able to spend at least S$800 per month. To maximize their OCBC 365 credit card rewards, thrifty shoppers should focus on hitting the below Tiers respectively as well as pair it with the OCBC 360 Account.
Eligibility & Fees:
- Minimum Age: 21 years old
- Minimum Annual Income: S$30,000 (locals/PRs); S$45,000 (foreigners)
- Don’t worry if you income is below this threshold, there is a more secured version of this card where you can do a S$10,000 fixed deposit.
- Annual Fee: S$196.20 (including GST), waived for the first 2 years. From the 3rd year onwards, you should be able to ask for an annual fee waiver just by calling the bank. Watch my Tiktok video here.
Key Benefits:
- Earn 6% cashback on Petrol
- Earn 5% cashback on Dining
- Earn 3% cashback on Groceries, Land Transport, Streaming, Electric Vehicle Charging, Watsons, Utilities
- Earn 1% cashback on Selected Advertising Platforms paid in full
- Has 2 spend tiers with respective minimum spend and cashback cap
Spend Tiers | Minimum Spend | Cashback Cap |
Tier 1 | S$800 | S$80 |
Tier 2 | S$1,600 | S$160 |
How to Best Optimise it:
Best Used for Petrol
- You can earn 6% cashback on fuel spend at all petrol service stations (see my TikTok video for the best credit cards for different petrol service stations) and up to 29.5% off fuel at Caltex, Esso and Sinopec. Only transactions MCC 5541 (Service Stations); and MCC 5542 (Automated Fuel Dispensers) will earn cashback.
Best To Hit S$800 or S$1,600 Exactly
- as the cashback is tier based, you will only earn the cashback according to the tier, rather than a percentage of your spending. For instance, if you were to spend S$1599.99, you will only earn Tier 1 (based on S$800 spend). Do monitor your monthly spending and switch to another card once you have maxed out at S$1,600 spending.
Best Used On Local Spending for These Specific Categories
Category | Earn Rate | MCC | Examples |
Petrol | 6% cashback at all petrol service stations
| MCC 5541 (Service Station) MCC 5542 (Automated Fuel Dispensers) | |
Dining | 5% cashback | MCC 5811 (Caterers) MCC 5812 (Restaurants and eating places) MCC 5811, 5812, or 5814 (Fast Food Restaurants) includes online food delivery | Deliveroo, foodpanda and GrabFood |
Groceries | 3% cashback | MCC 5411 (Grocery Stores) includes online groceries | NTUC Fairprice, Cold Storage, Sheng Siong, etc. |
Land Transport | 3% cashback | MCC 4111 (Local/Suburban Commuter Passenger Transportation) MCC 4011 (Railroads) MCC 4112 (Passenger Railways) MCC 4121 (Taxicabs and Limousines) MCC 4131 (Bus Lines, Including Charters, Tour Buses) | Grab excluding Grabpay, Gojek and TADA) and taxi rides (both local and overseas) and bus and train rides using SimplyGo |
Streaming | 3% cashback | MCC 4899 (Cable, Satellite, and Other Pay Television and Radio Services); | Netflix, Disney+, Spotify and Apple Music, Spotify, iTunes |
Electric Vehicle Charging | 3% cashback | MCC 5552 (Electric Vehicle Charging) | SP Digital, Greenlots, CDG ENGIE and City Energy |
Watsons | 3% cashback | All Watsons transactions can’t be used on online marketpalce like Lazada, Amazon, Shopee, etc. | |
Utilities | 3% cashback | Recurring Telco Bills/Recurring Electricity Bills | Starhub, Singtel, M1, MyRepublic, CirclesLife, Geneco, Keppel Electric, Sembcorp Power, Senoko Energy and Singapore Power |
Advertising Platform | 1% cashback (made in full payment) 0.5% cashback (made in instalment) | 99.CO EDGEPRO PROPERTYGURU STREETSINE FACEBOOK and META made under MCC 7311 (Advertising Services) |
Best Paired with OCBC 360 High-Yield Savings Account
- This card and savings account combo offers a high yield, combining interest and cashback rewards. This pairing offers the highest ROI by combining the OCBC 360 Account with OCBC 365 Credit Card (minimum spend S$800) on your first S$100,000 when you credit your salary, make purchases with an eligible OCBC credit card, and save regularly. This makes it especially beneficial for regular savers.
What to Avoid:
Exclusion for Specific Categories:
Petrol:
- Fleet card top ups such as Abecha Esso Fleet Card or Speedpass, or such others similar top-up transactions.
Dining:
- hotels dining and wedding banquet; and transactions not made in person such as telephone order or mail order (will only earn base cashback)
Land Transport
- EZ-Link and Transit Link top up
Advertising Platform
- Payments made via mobile wallet services (that OCBC Bank may determine in its sole discretion)
MCC | Description |
4784 | Tolls and Bridge Fees |
4829 | Wire Transfer Money Orders (WTMOs) |
4900 | Utilities–Electric, Gas, Heating Oil, Sanitary, Water |
5047 | Medical, Dental, Ophthalmic and Hospital Equipment and Supplies |
5199 | Nondurable Goods (Not Elsewhere Classified) |
5960 | Direct Marketing Insurance Services |
5993 | Cigars, Stores and Stands |
6010 | Member Financial Institution–Manual Cash Disbursements |
6012 | Member Financial Institution–Merchandise and Services |
6051 | Quasi Cash–Merchant (Non-Financial Institutions – Foreign Currency, NonFiat Currency, Cryptocurrency) |
6211 | Securities–Brokers and Dealers |
6300 | Insurance Sales, Underwriting and Premiums |
6513 | Real Estate Agents and Managers–Rentals |
6540 | Non-Financial Institutions – Stored Value Card Purchase/Load |
7349 | Cleaning, Maintenance and Janitorial Services |
7523 | Automobile Parking Lots and Garages |
7995 | Gambling – Betting, including Lottery Tickets, Casino Gaming Chips, OffTrack Betting, and Wagers at Race Tracks |
8062 | Hospitals |
8211 | Schools, Elementary and Secondary |
8220 | Colleges, Universities, Professional Schools and Junior Colleges |
8241 | Schools, Correspondence |
8244 | Schools, Business and Secretarial |
8249 | Schools, Trade and Vocational |
8299 | Schools and Educational Services–Not Elsewhere Classified |
8398 | Organizations, Charitable and Social Service |
8651 | Organizations, Political |
8661 | Organizations, Religious |
8675 | Automobile Associations |
8699 | Organizations, Membership–Not Elsewhere Classified (Labor Union) |
9211 | Court Costs Including Alimony and Child Support |
9222 | Fines |
9223 | Bail and Bond Payments |
9311 | Tax Payments |
9399 | Government Services–Not Elsewhere Classified |
9402 | Postal Services–Government Only |
9405 | Intra-Government Purchases–Government Only |
Is it Worth it:
Advantages:
- High cash back rates of up to S$160 per month
- Has wide variety of cashback categories plus the fact that it mostly covers your daily expenses
Disadvantages:
- A minimum of S$800 must be spent each month. So this would not be great for those who don’t like the pressure of spending and/or do not spend that much monthly
- have to hit S$800 or S$1600 exactly to get the best sweet spot for cashback as spending S$900 or S$1599 is not going to earn you more cashback — this will only be capped at S$80 so you really need to hit the S$1,600 minimum spending requirement to be eligible for the S$160 cashback.
Frequently Asked Questions:
When will I receive my cashback: Cashback will be automatically offset against the month’s billed amount
Final Thoughts:
- While the S$800 minimum monthly spend may not be for everyone, I personally think that it is a reasonable amount given the extensive spending categories, plus, most of them are under your daily expenses like recurring utility bills so what’s there to lose, right?
- Overall great card for cashback hunters who just want one cashback credit card for everything.
- I especially love this card for the pairing with OCBC 360 account as you are effectively getting a double dip on benefits.
💳 Credit cards change their T&Cs every so often and it is difficult to stay updated. That’s why I created a Telegram Broadcast where you can receive timely bite-sized updates to get the most out of your spending.
💡 We believe in always paying our credit card bills on time and in full. It is only by doing that, can we fully maximise our credit card benefits.
