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  • OCBC Cashflo Credit Card for Cash Rebate

    OCBC Cashflo Credit Card for Cash Rebate

    Come with us as we explore the features and benefits of this card. A little later, we will also review this card so that you can decide whether it will work for you or not.

    Cash Rebate Benefits You’re Looking for

    • Earn a cash rebate of 1% when you spend at least S$1,000 or more every month.
    • Earn a cash rebate of 0.5% if your monthly spend is below S$1,000.
    Learn More About OCBC Credit Cards

    How You Earn the Cash Rebate

    The cash rebate earning system on this card is straightforward. You spend on the card and get rewarded with rebates depending on how much you spend in a month. Let’s look at an example to understand this better:

    Spend Category Monthly Spen
    Dining S$200
    Fuel S$150
    Retail Shopping S$250
    Groceries S$100
    Total S$700

    Since the total amount spent on the card during the month is less than S$1,000, your cash rebate earning rate will be 0.5% on the total amount. This works out to S$3.50 (S$700 x 0.5%).

    Spend Category Monthly Spen
    Dining S$400
    Fuel S$250
    Retail Shopping S$350
    Groceries S$200
    Total S$1,200

    In this table, since the total amount spent for the month exceeds S$1,000, you will earn cash rebates at the rate of 1% on the total amount charged to the card. This comes up to S$12 (S$1,200 x 1%).

    Learn More About OCBC Credit Card Bill Payment

    Other Card Benefits That You Get

    Take a look at some of the other benefits you get when you apply for this credit card:

    • Get the annual fee waived for 2 years.
    • Enjoy the benefits of having your purchases automatically split into instalments.
    • Get discounts of up to 55% on travel insurance plans with this card. This offer is valid till 31 December 2018.
    • Enjoy a range of offers and benefits from time to time on a variety of categories including retail shopping, dining, fuel, travel, health and beauty, electronics and gadgets, and many more. To keep track of the latest offers that are available on OCBC credit cards, you can check with us.

    Should You Apply for the OCBC Cashflo Credit Card?

    Card benefits always seem attractive. But just because a particular card seems appealing, should you apply for it? Now that you know the benefits you get with the OCBC Cashflo Credit Card, should you get it? We’re going to look at a few points to see if it makes sense for you to apply for it.

    1. You Get the Option of Paying in Instalments

    Sometimes, you may find it hard to pay for some purchases, especially those that cost you more than your regular buys. This card helps you pay for such purchases in an easier manner. It automatically splits your purchases into monthly instalments at 0% interest. The number of instalments depends on the value of your purchase.

    For example, if your spend is between S$100 to S$999, it will get split into instalments payable over a period of 3 months. For spends that are above S$1,000, you get to repay the amount over a period of 6 months. The card saves you the trouble of applying for an instalment payment plan every time you make a purchase. It also saves you money you’d otherwise spend on processing fees to convert purchases into instalment payment plans on other cards.

    2. Think About the Rebate Cap and How Much You Need to Spend to Earn It

    Earning rebates is exciting, but when there’s a cap on how much you can earn in a month, it becomes restrictive. This card lets you earn up to S$100 in cash rebates every month. That is a maximum spend of S$10,000 per month will earn you the cap of S$100 (S$10,000 x 1% = S$100).

    Now, when you compare the maximum cash rebate limit allowed for a month with a monthly spend of S$10,000, S$100 does seem to be very less. Think about this before you apply. Does it make sense for you to spend so much to earn this rebate amount?

    3. Annual Fee Waiver Based on Your Annual Spend

    As with most other credit cards in Singapore, this one also charges you an annual fee. While the cash rebates you earn every month may not be able to help you cover the cost of owning this card, there is another way you can get the annual fees waived every year.

    If you spend at least S$10,000 in a year, you can get the card’s annual fee waived off. So, if you manage to spend at least S$1,000 on the card every month, you can get cash rebates at the enhanced rate as well as get out of having to pay the yearly fee. Also, the card is free for the first two years.

    Learn More About OCBC 365 Credit Card

    How Much Will the OCBC Cashflo Credit Card Cost You?

    Let’s now take a look at how much owning this card will cost you.

    Annual fee for primary card S$160.50 (2-year fee waiver)
    Annual fee for supplementary card S$80.25 (2-year fee waiver)
    Interest rate on purchases 26.88% p.a.  
    Interest rate on cash advance 28.92% p.a.
    Cash advance fee 6% of the amount withdrawn (minimum S$15)
    Late payment fee S$100

    Now that you know what you get and how much the OCBC Cashflo Credit card will cost you, does it make sense for you to get it? You can apply for the card if you are more than 21 years old and are a Singaporean or Permanent Resident earning at least S$30,000 p.a. or a foreigner earning a minimum of S$45,000 p.a. You can also head over to our applications page to see if you qualify to apply for it.

    Learn More About OCBC Great Eastern Cashflo Credit Card

    Our Review: How Does the OCBC Cashflo Credit Card Fare When Compared With Other Cards in the Same Category?

    The OCBC Cashflo Credit Card splits your payments into instalments to help you pay for them in a more convenient manner. But how does it stack up against other cards that offer the same facility? We’ve made a comparison to show you how:

    OCBC Cashflo Credit Card vs. OCBC Great Eastern Cashflo Credit Card

    Both of these cards give you similar rewards of up to 1% cash rebate depending on how much you spend on them. Both of them are also similar in terms of the automatic splitting of payments.

    However, the OCBC Great Eastern Cashflo Credit Card does one over its sibling. It allows you to pay for selected insurance plans from Great Eastern General Insurance and Great Eastern Life Insurance in instalments spread over 12 months. What’s more, it also gives you a 1% cash rebate on the premiums paid for these insurance plans.

    Paying for certain purchases especially those that are expensive can be difficult at times. This card offers you a way of paying for them conveniently by splitting every transaction made on it into a series of instalments without you having to go through the trouble of doing it each time. If you’re looking for financial flexibility and an easier way to pay for your purchases, this card just might be what you need.

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    OCBC Cashflo Credit Card Reviews

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