OCBC 365 Sign Up:
What The Card is About:
With higher cashback rates given for many different categories, the OCBC 365 will fit right into your wallet as your go-to credit card.
Savvy spenders will want to optimise the OCBC 365 credit card by focusing on its highest cashback categories — dining and petrol, which give 6% and 5% cashback respectively. Spending on other day-to-day categories such as grocery spend, utilities, electricity bills and ride-sharing will also earn modest cashback. You can start spending immediately upon approval to make full use of its automatic 2-year annual fee waiver.
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.
Spend Tiers | Minimum Spend | Cashback Cap |
Tier 1 | S$800 | S480 |
Tier 2 | S$1,600 | S$160 |
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:
- High cashback for daily spending – see below for categories.
- Best for those with OCBC 360 High-Yield Savings Account to earn extra interest on your saving especially if you’re a regular saver since it offers a maximum interest rate of 7.65% per annum and an effective interest rate (EIR) of up to 4.65% a year on your first S$100,000 when you credit your salary, make purchases with an eligible OCBC credit card, and save. Regardless of whether you fit into any of the aforementioned categories, you can earn a base rate of 0.05% p.a. on your account balance.
- The ability to earn higher cashback of $160 (must hit the S$1,600 minimum spend)
Where Can I Use it:
This card will accumulate cashback as you use it for your everyday spending. With a wide array of spending categories, you can save as much with these:
Petrol:
– 6% cashback on fuel spend at all petrol service stations (see my TikTok video for the best credit cards for different petrol service stations)
– Up to 22.92% fuel savings at Caltex (including 18% instant discount for all fuel)
– Up to 21.04% fuel savings at Esso
Dining:
– 5% on Local and overseas dining, including online food delivery at Deliveroo, foodpanda and GrabFood
Groceries:
– 6% on local and overseas groceries including online groceries
Land Transport:
– 3% cashback on private hire (eg. Grab excluding Grabpay, Gojek and TADA) and taxi rides (both local and overseas) and bus and train rides using SimplyGo
Pharmacy:
– 3% on all purchases made at pharmacies like Guardian or Watsons
Streaming:
– 3% on streaming services like Netflix, Disney+, Spotify and Apple Music
Electric Vehicle Charging:
– 3% on charging stations (e.g. SP Digital, Greenlots, CDG ENGIE and City Energy)
– 3% cashback on recurring telco and electricity bills
Is it Worth it:
Advantages:
– High cash back rates of up to S$160 per month
– Has wide variety of cash back 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 do not spend that much monthly
– It does seem like you 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:
Can it be paired with OCBC 360: Yes, refer on the above mentioned OCBC 360 pairing
Read Terms and Conditions Here
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.
OCBC 365 Sign Up:
? 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.
