If you are looking for a great cashback credit card, look no further than the OCBC 365 Card! This card gives you cashback on your regular, everyday spends. You get 6% cashback on weekend dining in Singapore and on Caltex petrol purchases, 5% cashback on fuel transactions at other petrol stations, 3% cashback in categories such as weekday dining in Singapore, all-week dining outside the island, supermarket purchases, online shopping and recurring bills from M1, SingTel and StarHub, and 0.3% cashback on other transactions made on the card. If you are a trustee for a Child Development Account, then you can also get 3% cashback on medical expenses such as dental or medicine clinic visits, hospitals or cord blood banking.
However, the catch is that you can earn only up to S$80 per month as cashback and you need to spend at least S$600 per month to get this cashback. While it is hardly difficult to meet the minimum spend criteria, the cashback cap might seem too low compared to some other cards available in Singapore.
If you think the annual fee of S$192.60 (which is waived for the first two years, by the way) is too much, think of all the extra privileges the card is offering. From Visa Signature Concierge Services and Luxury Hotel deals to free travel insurance of up to S$200,000, this cashback card gives you much more than you expect.
The applicable fee structure for OCBC 365 credit cards is given below:
Interest free Period
If there are no charges that are carried forward from the previous month the you can avail an interest free period for 24 days calculated from the date of the statement
Interest on Purchases
If the full payment is not cleared within the due date then an interest of 25.92 percent is charged annually. The minimum charge is SGD 2.50 every month and it is calculated from the date of the transaction till the whole payment is made.
Cash Advance Fee
The cash advance fee is 6 percent of the withdrawn amount or SGD 15, whichever is more.
Late Payment Charges
If the minimum balance is not paid then the bank charges SGD 60 as late payment charges.
You may apply for an OCBC 365 Credit Card if you fulfill the following pre-requisites:
Cashback takes on a whole new meaning with the OCBC 365 Credit Card. Earn cashback on various lifestyle activities like dining, shopping, fuel, groceries, telecom bills nda host of other expenses.
If you wish to report a lost or stolen credit card, all you’ve got to do is contact the bank’s hotline number 1800 363 3333.
You will need to inform the bank about the loss or theft of your credit card, following which the bank will block your credit card. But in order to do so, you will have to verify certain details with the bank – proof of identity by verifying your date of birth and other relevant details, and proof of ownership of your credit card by mentioning your card details and information on the most recent transactions performed using your card.
If any unauthorised transactions have taken place before you’ve informed the bank, you case will be investigated and you will be penalized if the bank proves that you have acted fraudulently. The penalty for a lost/stolen credit card is S$100.
There a diverse range of credit cards offered by OCBC to meet an equally diverse range of requirements. Listed below are some of the most popular OCBC Bank.
To apply for OCBC 365 Credit Card, one must be 21 years old or above.
The annual fee for holding on to an OCBC 365 Credit Card stands at $192.60 p.a. The fee for first two years is waived off. You must spend a minimum of at least S$10,000 in one year using the card to qualify for the waiver.
OCBC 365 Credit Card provides 6% cashback on weekend dining plans in the city, while 3% cashback on weekdays, for dining plans made both within the city and overseas.
The primary benefits of the OCBC 365 Card include:
The late payment fee associated with the card stands at S$100.