- The BOC Family card offers new cardholders the chance to win a 20 inch luggage bag provided they opt for the BOC Credit Cards and MoneyPlus Bundle.
- While the normal cash rebates hover around 7% for dining and 5% for groceries and supermarket expenses, the first 800 qualifying new to bank customers can enjoy a promotional cash rebate of 9% on the above expenses.
The offer is valid till 31st December 2016 and must apply for the BOC Credit cards and MoneyPlus Bundle promotion.
Bank of China Family Card Promotions
BOC Credit Card Instalment Plan: Cardholders can convert their retail purchases, both local and overseas, as well as their credit card statements into low-interest instalment plans. The purchase instalment plan comes with tenure options ranging from 6 to 24 months and requires a minimum purchase amount of S$300 to qualify for conversion. Cardholders can convert qualifying purchases into a 6-month instalment plan at an interest rate of 0.50% p.a. or a 9-month instalment plan at an interest rate of 1% p.a. or a 12-month instalment plan at 1.50% p.a. with a processing fee of 3.50%. The credit card statement plans come with two tenure options. Cardholders can convert their statements of S$500 or more into instalment plans of either 12 months at an interest rate of 2% p.a. or 24 months at an interest rate of 4% p.a. Cardholders can convert their purchases or statements into instalments by calling 1800 338 5335 after they have made the purchase or have received their statement. The offer is valid until 31 December 2017.
BOC Dream Draw 2017: BOC cardholders stand a chance to win either a 4D3N stay at Banyan Tree Vabbinfaru in Maldives or a 4D3N stay at Banyan Tree Ungasan in Bali or a brand new Mercedes-Benz C 180 Cabriolet through BOC’s Dream Draw 2017. Cardholders will be awarded one chance for every S$50 charged to their card. Credit card interest charges and cash advances will not qualify as eligible purchases. New cardholders whose card has been approved during the promotion period will receive 10 chances. Cardholders can also get 3 times the chances earned when the monthly spend charged to the card is S$2,000. For example, if the monthly spend is S$2,000, the cardholder gets 40 chances (1 chance for every S$50) x 3 which is 120 chances. The promotion period is valid till 31 December 2017.
Features of BOC Family Card
The features of BOC Family card are as follows:
- The card is meant for everyday use.
- The card can be enjoyed by the entire family.
- The card earns higher cash rebates on Dining expenses, grocery bills, medical bills at select hospitals, utility bills such as Telco bills, and even offers rebates on top-ups done through NETS FlashPay Auto.
- All other expenses earn a lower rate of cash rebates.
- The card requires the cardholder to meet a certain spend criteria to qualify for the rebates.
Benefits of BOC Family Card
- The card offers a base cash rebate rate of 0.5% on all expenses. This cash rebate is given when the minimum monthly expense is less than S$500.
- For cardholders exceeding the S$500 spend criteria in a billing cycle then they qualify to receive family cash rebate of 7% on dining expenses at qualifying merchant outlets.
- The family cash rebate for grocery expenses incurred at supermarkets or hypermarkets across Singapore is 5%, medical bills incurred through on-site transactions at select hospitals earn cash rebate of 5%, a 1% cash rebate on telecommunication bills and a 5% rebate on expenses incurred at select outlets of BEST Denki, BIG BOX, Toys R Us, POPULAR bookstore, Watsons and Unit Pharmacy. The family cash rebate is capped at S$100 a month.
- If the supplementary card has a minimum of S$200 charged to it within one month, then the principal cardholder earns an additional 2% cash rebate. The additional cash rebate is capped at S$20 a month.
Fee and charges
|Type of fee
||S$150 for primary credit card, waived for the first year.
|Supplementary card fee
||S$75 for supplementary card, waived for the first year.
||25.88% per annum
|Late payment charges
||Minimum of S$80 or 5% of minimum monthly payment sum
|Cash advance fee
||S$20 or 6% of the amount withdrawn, whichever is higher
||1.5% of transaction amount for foreign currency transactions
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Transactions in foreign currencies
Cardholders are required to reach out to the 24 hour customer service line at 1800 338 5335 for local and +65 6338 5335 for overseas callers to activate overseas use. Transactions carried out overseas charge a foreign currency transaction fee of 1.5% of the transaction amount.
MasterCard or Visa Transactions that are processed overseas but effected in Singaporean dollars carry a dynamic currency conversion fee of 0.8% of the transaction amount for Visa transactions and 1% of the transaction amount for MasterCard transactions.
How to apply for BOC Family Card
Aspiring cardholders can apply for the BOC Family card either online through the Bank of China website or through any third party financial website that offers the provision or they can apply offline by visiting their nearest bank of China branch
Eligibility Criteria for BOC Family Card
- The principal cardholder must be at least 21 years of age as at last birthday.
- The supplementary cardholder must be at least 18 years of age as at last birthday.
- If the cardholder is a Singaporean national then they must earn a minimum annual income of S$30,000.
- If the cardholder is a foreigner then they must earn a minimum annual income of S$60,000.
Aspiring Cardholders will need to submit certain documents at the time of application which are as follows
- Latest income Tax notice of assessment
- Front and Back photocopy of NRIC
- Latest pay Slip
- 6 months CPF Statement
Self Employed Applicants
- Front and Back photocopy of NRIC
- 2 years of Income Tax Notice of Assessment
- 12 months CPF statement
- Photocopy of Passport
- Photocopy of Employment Pass valid for 9 months
- Latest pay Slip
Interest on BOC Family Card
The current interest rate levied on BOC Family card is 25.88% per annum or an applied rate of 2.16% per month. Interest rates are subject to change and it is advised to contact the bank to check current interest rates.
The repayment should be made on a monthly basis and amounts to a minimum monthly payment of 3% of the outstanding balance plus any previous outstanding minimum payment sum and any sum exceeding the credit limit of the card or S$50, whichever is higher. Failure to do so will incur a late payment penalty of S$80 or 5% of the minimum payment sum
Lost/stolen card liability
The cardholder should report lost or stolen cards as soon as possible to Bank of China. Cardholders will not be held liable for any expenses charged illegally to their card after they report it stolen or missing. Cardholders will however be held liable for any transactions and cash advances, authorised or unauthorised carried made with the use of the credit card’s PIN.
Reporting lost/stolen credit cards
Cardholders need to report to the bank immediately upon discovery of lost or stolen credit cards and can do so by calling the 24 hour helpline at 1800 338 5335.