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    OCBC Arts Platinum MasterCard

    Credit Card BYTES FROM OUR KITCHEN

     OCBC Arts Credit Card Promotion

    • Travel and Hotel offer: Pay with your OCBC credit card when booking your next car rental with Avis and get up to 35% off on standard rates, 30% off international leisure rates, and complimentary Avis preferred membership. This offer is valid until December, 31st, 2017.
    • Dining and entertainment offer: Get a return voucher worth S$20 at La Strada using your OCBC credit card. The voucher can be redeemed for a minimum spend of S$150 (excluding service charge and prevailing GST). This offer is valid until June 30th, 2017.
    • Leisure and Arts offer: Get 10% off on standard tickets at Normal by Checkpoint Theatre for all OCBC credit cardholders. Performance date from March 23rd to April 16th, 2017.
    • Dining and entertainment offer: Get a return voucher worth S$10 at JINzakaya using your OCBC credit card. The voucher can be redeemed for a minimum spend of S$80 (excluding service charge and prevailing GST). This offer is valid until June 30th, 2017.
    • Travel and Hotel offer: Get 20% off with minimum 2-night stay at Starwood hotels and resorts in Asia Pacific using your OCBC MasterCard. Book by July 13th and stay by July 14th, 2017.
    • Dining and entertainment offer: Get a return voucher worth S$20 at Bistro Du Vin using your OCBC credit card. The voucher can be redeemed for a minimum spend of S$150 (excluding service charge and prevailing GST). This offer is valid until June 30th, 2017.
    • Leisure and Arts offer: Get 5% off on selected resort packages at Eat Play Surf using your OCBC credit card. Enter coupon code, OCBCHOLIDAY. This offer is valid until June 30th, 2017.
    • Dining and entertainment offer: Get 10% off à la carte items with a minimum spend of S$50 at CommonGround using your OCBC credit card. This offer is valid until December 31st, 2017.

    OCBC Arts Platinum MasterCard

    Art is the concrete representation of our most subtle feelings, says American painter Agnes Martin. If you are one of those who appreciate art and want to be in the thick of the art scene, then there’s no better credit card out there for you except the OCBC Arts Platinum MasterCard.

    Features Of OCBC Arts Platinum MasterCard

    • For the first 2 years, you don’t have to pay any annual fees for the card.
    • The annual fee for the following year will be waived if you spend at least S$10,000 in the current year on your OCBC Arts Platinum MasterCard.
    • You can pay through MasterCard Contactless through the OCBC Arts Card, wherein a simple tap will make the payment and no signature is required to authorise the transaction. This method can be used for purchases of up to S$100.

    Rewards

    • 3 OCBC$ for every dollar spent at SISTIC
    • 1 OCBC$ for other retail spends

    If you have more than 1 OCBC credit card and supplementary cards, you can collect all the OCBC$ in one account, making it easier and faster to redeem the points. You can get vouchers in lieu for these rewards through the OCBC Rewards portal, as well as via internet banking, phone banking or the OCBC mobile app. You can use these vouchers to buy products from the bank catalogue, and at participating stores. The OCBC$ have a 2-year validity and the vouchers are valid for 3 months.

    Benefits Of OCBC Arts Platinum MasterCard

    • Use MasterPass on the ComfortDelGro Taxi Booking App and get faster payments, no booking fee and no administrative fee for your transactions.
    • Exclusive entry to art events and exhibitions, special invites, discounted ticket prices, priority booking, and other goodies are an integral part of the OCBC Arts Credit Card.

    Instalment Payment Plans

    If you are making large purchases and want to split the costs into monthly instalments, OCBC allows you to do that in 2 different ways, depending on your needs. However, remember that you will not get any OCBC$ if your payments are converted into any kind of instalments.

    1. The 0% Instalment Payment Plan (IPP) allows you to split the payment for your purchase, of any amount, over a few months. You can only use this facility at selected 1,000 stores in Singapore, such as educational institutions, insurance payments, automotive businesses, travel, shopping, and health, beauty and wellness centres. However, under this scheme, the bank decides the duration of the repayment and how much amount you’ll be liable to pay every month. Though the scheme is zero-interest, if you are unable to pay the instalment amount every month regularly, the 25.92% interest rate is applicable.
    2. PayLite is also an instalment payment plan, but it differs from the IPP in 3 ways
      1. You can only convert transactions of over S$500 into monthly instalments
      2. The duration of the instalments can be fixed by you – from 3 months to 1 year.
      3. You can use this provision at any store in Singapore and overseas.

    You need to apply for PayLite after making the transaction, either via online banking or through the PayLite form that can be filled and faxed in to the bank. This needs to be done within 7 days of the transaction for PayLite to be enforced. The fees and charges on PayLite are as follows

    PayLite duration EIR Processing fee
    3 months 18.18% 3%
    6 months 10.43% 3%
    1 year 9.5% 5%
    18 months 9.23% 7%
    2 years 9.15% 9%

    Fees And Charges

    Annual fee S$160.50
    Supplementary card fee S$80.25
    Interest rate (annual) 25.92%
    Late payment charges S$80
    Cash advance fee 6% or minimum S$15, whichever is higher
    Interest on cash advance (annual) 28.92%
    Interest-free period 23 days

    Transactions In Foreign Currencies And Overseas Use Of The Card

    An administrative fee of 2.8% of the payment – 1% by Visa and 1.8% by OCBC – will be charged for foreign currency transactions. Transactions in Singapore dollar outside the island will attract a dynamic currency conversion fee of 1% of the transaction amount.

    Cash Withdrawals

    In case of emergencies, you can take a loan from your credit card instead of approaching the banks for a personal loan or taking out a payday loan. With OCBC, you can do it under 2 schemes OCBC Cash Advance and Cash-on-Instalment plan.

    1. With Cash Advance, you can borrow money at a moment’s notice either through an OCBC ATM in Singapore or Visa/MasterCard-compliant ATMs abroad, or from OCBC bank branches. You could also call 1800 363 3333 (from Singapore) or +65 6363 3333 (from overseas) to apply for a Cash Advance. If your card was approved after August 22, 2012, you can borrow up to 70% of your credit limit, but if the card was approved before this date, you have a borrowing possibility of 100% of your available credit limit. An interest rate of 28.92% is applicable on this loan, as well as a cash advance fee of S$15 or 6% of the amount, whichever is higher.
    2. Cash-on-Instalment is a slower process, under which you can transfer funds from your OCBC Arts Platinum MasterCard to any bank account. There are 2 ways to apply for this facility
      1. Submit an application form online through the OCBC website
      2. Send an SMS with CW to 72222, and get the bank to call you back.

    You have to borrow at least S$1,000, and the maximum amount you take, including processing fee and interest rate, cannot exceed 90% of your available credit limit. This loan can be paid back in 1 to 5 years. The fees and charges applicable are

    Period of Cash-on-Instalments Processing Fee EIR
    1 year 6% 11.47%
    2 years 2% 12.80%
    3 years 2% 12.11%
    4 years 2% 11.71%
    5 years 2% 11.38%

    How To Apply For OCBC Arts Platinum MasterCard

    You can apply for the OCBC Arts Platinum MasterCard either by placing an online application and providing your personal and income details and uploading the required documents, or by visiting your nearest OCBC branch with the required documents. You need to ensure that the documents are correct and available in full, in order to ensure quick approval. Having a high credit score also helps.

    Eligibility Criteria For OCBC Arts Platinum MasterCard

    • Minimum age
      • Primary cardholder 21 years
      • Supplementary cardholder 18 years
    • Minimum income
      • Singapore citizens/Permanent residents S$30,000
      • Foreigners S$45,000

    Documents Required

    • Salaried individuals
      • Photocopy of NRIC (both sides)
      • Income documents such as latest computerised payslips for the past 3 months, latest 12 months’ CPF Contribution History Statement, or latest Income Tax Notice of Assessment
    • Self-employed individuals
      • Photocopy of NRIC (both sides)
      • Latest 2 years’ Income Tax Notice of Assessment
    • Foreigners
      • Employment Pass with at least 6 months’ validity
      • Photocopy of Passport with at least 6 months validity
      • Income documents such as latest computerised payslips for the past 3 months, latest 12 months’ CPF Contribution History Statement, or latest Income Tax Notice of Assessment
    • Supplementary card applicant
      • Photocopy of NRIC (both sides) for Singapore citizens and PR, with at least 6 months’ validity
      • Photocopy of Passport AND a copy of Employment Pass or Work Permit or Dependent Pass or Student Pass or Long term visit pass for foreigners, with at least 6 months’ validity
      • Recent original telephone bill or original bank statement

    Repayments

    The minimum repayment required every month is 3% of outstanding credit card balance or S$50, whichever is higher. Any amount overdue from the previous months also needs to be paid off along with the current bill. The payment options offered by OCBC are

    • Through OCBC Bank ATMs
    • With Fast And Secure Transfers (FAST) fund transfers from accounts of participating banks
    • Via InterBank GIRO transfer
    • Through OCBC Mobile App
    • Via internet banking from any bank account
    • Using Phone Banking
    • Through cheque in favour of OCBC Bank – Credit Cards with you card number mentioned on the back of the cheque. This can be mailed to OCBC credit cards, Robinsons Road, P.O. Box 1386, Singapore 902736, or deposited at Quick Cheque Deposit boxes at all OCBC branches and Fastlanes in Singapore.
    • By cash at bank branches or cash deposit machines
    • At AXS Stations
    • At iNETS kiosks

    Card Protection Schemes

    By paying a small premium amount, you can secure your credit card against fraud and your accidental death. The 2 card protection schemes offered by OCBC for the OCBC Arts Platinum MasterCard are

    1. CreditWise : This scheme provides your family with a coverage of up to S$60,000 in case of your death or permanent disability. Upon your accidental death, your family gets an additional 50% of the sum assured. The premium is S$0.40 per S$100 of your outstanding credit card bill every month.
    2. CardSecure : Protect your credit card against fraud in case your card is lost, stolen, misplaced or if the PIN is forced out of you. You can get up to S$3,000 as fraud protection, up to S$1,000 as reimbursement for replacement cost of identity, cash and valuable documents, and up to S$200 as replacement cost of personal belongings such as bags and wallets. You can also get emergency cash advance of up to S$10,000 outside Singapore under this plan. The yearly premium is S$52.43 for the primary cardholder and S$93.63 for 4 family members plus the primary cardholder.

    Reporting Lost/Stolen Credit Cards

    When you find that you have lost or misplaced your credit card, or if the card has been stolen from you the first thing you need to do is call the phone banking service of OCBC bank and report the loss. The bank will block your card and prevent further expenses on the card. If the card is stolen, you may also want to file a police report and take the legal measures necessary to get it back. If these actions are promptly taken, your liability on the lost or stolen credit cards is only up to S$100. However, if you are unable to report the loss of the card, or are proven to be party to the fraudulent purchases either because of negligence or by being an accomplice, you will be held completely liable for the money spent on your card after it was lost from your person. It is important, therefore, that you take utmost care of your card and the PIN, and ensure that neither of them is given to another person negligently.

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