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    Bank of China Family Credit Card

    The BOC Family Card aims to take care of your day-to-day expenses with attractive cash rebates. If you are searching for a cashback card that caters to your dining, shopping, household and everyday family needs, this may be the right card for you.

    BOC Family Card Review

    With the BOC Family Card, you can get cash rebates of up to S$1,440 a year for both principal and supplementary cardholders’ usage. Higher rebates are extended to local and overseas dining, online purchases, hospital payments, NETS FlashPay top-ups, supermarket purchases, and other selected stores.

    Features and Benefits

    • If you are opting for the Family Card, you don’t have to pay the annual fee of S$150 for the initial year. For the supplementary card, you will get a fee waiver of S$75 in the first year.
    • You can take out money from the credit card in case of emergencies.
    • You can convert your large purchases into monthly instalments instead of having to pay for all of it in one go.

    Rewards Programme

    This BOC Credit Card is designed for your everyday family needs. Let us look at what rebates it offers:

    • You will get 7% cash rebate on your local and overseas dining spends.
    • You can earn 5% cash rebate on spends made towards online shopping, hospital bills, the first four NETS FlashPay Auto Top-Ups, supermarkets, and selected outlets including BEST Denki, Watsons, Unity Pharma, BIG BOX and Toys ‘R’ Us.
    • You can earn up to 1% if you use your card to pay your telecommunication bills.
    • You will get a cash rebate of 0.5% for all your other retail purchases.
    • If you are using your supplementary card to spend on your purchases, you can earn a total of 2.5% cash rebate on other retail purchases.

    The category in which you receive cash rebates will depend on the Merchant Category Code (MCC) assigned by Visa to the outlet you are spending at. You need to spend at least S$500 a month in total to earn these higher rebates. The maximum cash rebate you can earn on the on this card in a billing cycle is S$100. For online shopping, this ceiling stands at S$30 (out of the S$100). For supplementary card spends, the cash rebate on other purchases is capped at S$20 per billing cycle. The total cash rebate offered on a card account will amount to S$1,440 a year.

    For more details about the reward programme on the BOC Family Card, please check out http://pic.bankofchina.com/bocappd/singapore/201710/P020171019392916902653.pdf.

    Instalment Payment Plans

    The BOC 0% instalment Payment Plan (IPP) is applicable to all BOC cardholders. The IPP offers a convenient way to convert your high-ticket spends into 6, 12, 24, and 36-month instalments. However, the scheme is subject to the terms and conditions listed below:

    • The minimum purchase amount at the merchant should be S$500.
    • The total credit limit on your card can be used to block the purchase amount. This excludes any temporary credit increase.
    • You will not be able to change the tenure or the instalment amount in the IPP.
    • If you pre-pay the IPP or cancel the IPP, a fee of S$150 is applicable. Upon doing so, all unpaid balances will reflect in your credit account and will become immediately due.
    • Reward points will not be provided for transactions when it is utilised under IPP.

    Fees and Charges

    Type of fee Amount payable
    Annual fee S$150 (First-year fee waived)
    Supplementary card fee S$75 (First-year fee waived)
    Interest rate 25.88% p.a. (APR – 2.16% per month)
    Late payment charges 5% of the minimum repayment amount or S$100, whichever is greater
    Cash advance fee S$20 or 6% of the amount that is withdrawn
    Interest on cash advance 28% p.a. (2.34% per month)
    Administrative fee 2.5% of the transacted amount

    How to activate/Use Your Bank of China Family Credit Card overseas

    When you go out of Singapore, you’ll need to activate the magnetic stripe on the card. This facility is deactivated for local usage in order to prevent misuse of your card by fraudsters. The procedure to activate the card for use abroad is listed below:

    • Call the hotline number (1800 3385335 or +65 6338 5335).
    • IVR will ask you to press the relevant query. Choose ‘3’ (Credit Card/MoneyPlus queries).
    • Enter your credit card number and your 6-digit PIN.
    • Select ‘3’ at the next step (card activation for overseas use).
    • Select ‘1’ to confirm the period for which you want the magnetic stripe active.

    The card will be deactivated on the expiry date set by you. If you return earlier, then you can call the hotline number and deactivate the facility. You don’t need to worry about activation or deactivation of this feature for online transactions.

    Foreign Currency Transactions

    A bank admin fee of 1.5% is applicable on your transactions in foreign currencies. All Visa and MasterCard transactions (calculated in Singapore dollars) that are processed overseas will attract a fee of 1% (by Visa and MasterCard International). So the total foreign transaction fee that will be levied on your transaction is 2.5% of the amount in Singapore dollars.

    In addition to this, you might have to pay a dynamic currency conversion (DCC) fee of 1% if you decide to pay in Singapore dollars directly instead of converting the amount.

    Cash Advance/Cash Withdrawals

    When you withdraw money from your credit card account through an ATM, or transfer funds to a bank account, you have to pay a cash advance fee plus interest on the amount. The cash advance fee is 6% of the amount taken out, subject to at least S$20.

    An effective interest rate (EIR) of 28% p.a. is applicable on cash withdrawals wherein the minimum interest to be paid is S$3. The applied rate is 2.34% per month. Please note that the interest rate on cash withdrawals are calculated on a daily basis from the date of withdrawal, until the balance amount is repaid in full.

    How to Apply For BOC Family Card?

    If you qualify for all the BOC credit card conditions, you can visit the BOC Singapore website and click on the “apply” tab. Upon doing so, you will be directed to a page where you will need to download and fill up the credit card application form.

    This form will include information pertaining to your employment, personal details, supplementary card, etc. This form needs to be filled and submitted to complete your application process.

    You could also visit a BOC branch on the island and submit your documents to get the Card.

    Eligibility criteria

    • For the principal card, you will need to be at least 21 years or older at the time of submitting your application.
    • If you are a supplementary card applicant, you will need to be 18 years or older.
    • You should have an annual income of S$30,000 and above to qualify for the BOC Family Card. If you are a foreign national, you will need to have an annual income of S$60,000 and above.

    Documents required

    Eligible individuals are required to furnish the following documents while applying for the credit card.

    If you are salaried, you will need to submit the following documents:

    • Photocopy of latest income tax notice of assessment
    • Photocopy of your NRIC (front and back)
    • Latest pay slip
    • CPF statement (6 months)

    If you are self-employed or have a variable income, you will need to furnish the following documents:

    • Photocopy of NRIC (front and back)
    • Photocopy of income tax notice of assessment (2 years)
    • CPF statement (12 months)

    If you are a foreign national, you will need to submit the following documents:

    • Photocopy of your latest passport
    • Photocopy of your employment pass that is obtained from your employer (this should be valid for 9 months)
    • Latest salary slip

    Interest Rates

    The current interest rate applicable is 25.88% p.a. and the applied rate is 2.16% per month. This rate has to be paid if you are unable to clear all the dues on the card in a given month. BOC Family Card holders can enjoy an interest-free period of up to 23 days if the balance is paid in full. Please note that these interest rates can fluctuate anytime.

    Bill Payments

    Payments should be made on a monthly basis and this will amount to a minimum of 3% of the balance amount plus any outstanding dues from the previous balance, the amount in excess of the credit limit, or S$50 (whichever is higher).

    Upon failing to pay the credit card dues on time, you are liable to pay S$100 per month or 5% of the minimum payment amount, whichever amount is greater.

    You can conveniently make payments to your credit card using AXS machines, GIRO, by cheque, by phone banking services, money order (bank in Singapore), or cash. However, you should not send any payments in cash using mail. You can visit Bank of China (BOC) main branch or any of its branches in Singapore to make any payments.

    If the payments made by you are accepted in some other currency, the payment will not be considered until the conversion is done in Singapore dollars. Please note that conversion charges are applicable.

    What Should You Do If Your BOC Family Card is Lost/Stolen

    In case the card is lost, you will need to report the incident to the BOC hotline number immediately. Once the bank is notified of this incident, the cardholder shall not be liable for any transactions that are done through the card. If the card is stolen, you should also file a police report in addition to promptly informing the bank.

    However, if a transaction such as a cash withdrawal or unauthorised transaction is done using a pin, the cardholder may be penalised and held responsible. If you can prove to the bank that you were not involved in it and PIN was taken forcefully from you, then your liability is limited to S$100.

    FAQs

    Q. Does the BOC Family Card have enhanced security?

    A. All BOC credit cards are incorporated with enhanced security measures. This includes the following:

    • Implementation of one-time password (OTP) for online purchases.
    • Migration to EMV chip cards that offers better protection against fraudulent use.

    Q. Can I get an SMS alert service on my BOC transaction?

    A. Yes, you will get an SMS alert service for all your transactions above S$100. However, if you are not receiving any alerts, you can contact the BOC hotline number to request an SMS alert.

    Q. I have submitted my credit card application. How do I check the status?

    A. You can contact the BOC hotline to know about the status of your credit card application. After the application is submitted, it usually takes up to 2 weeks for the bank to process your request. However, if you need the credit card urgently, you will need to place a request by calling the BOC hotline number.

    Q. What is the procedure to increase my credit limit?

    A. You will need to provide a written communication or notice to the bank requesting for an increase in your credit limit. The maximum credit limit is twice your monthly salary. The bank will consider your request after verifying your latest income/salary details.

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