OCBC is one of the major banks in Singapore. It provides an exclusive set of credit cards with offers across categories such as travel, rebates, and rewards. They are tailored to meet specific financial needs of the users.
The Great Eastern Cashflo Credit Card is one such card offered by OCBC Bank which can convert your premium for Great Eastern insurance plans into interest-free instalments over a term of 12 months. The card is unique because of the automatic conversion of bill to monthly instalments, and the special insurance premium-payment benefit.
Using this card, you can split the bills for other retail spends over terms of 3 to 6 months at zero interest. You can also earn between 0.5% to 1% cash rebate on your spends. Essentially a rebates card, it also provides you with health and wellness privileges.
However, the card will prove more beneficial when you opt for insurance plans with Great Eastern Life or Overseas Assurance Corporation, as you can enjoy 0% instalment payment plans. Besides, the 0% IPP scheme is also useful while making large payments on purchases.
Some of the primary features for the OCBC Great Eastern Cashflo Credit Card include:
Here’s a list of privileges that come with this card:
There are several promotions running currently on the OCBC Great Eastern Cashflo Credit Card. Some of them are listed below:
Find more Deals with OCBC Credit Cards on OCBC Credit Card Promos
The rewards system for using the OCBC Great Eastern Cashflo Credit Card is given below:
You can use the accumulated rebates to offset your credit card bills. However, the rebates are subject to a cap of S$100 per month.
The OCBC Great Eastern Cashflo Credit Card allows cardmembers to automatically split their bills using instalment plans over a tenure of 3 months or 6 months at 0% interest. When your spend is below S$1,000, you can choose to pay over a term of 3 months, and you can pay over a period of 6 months when your spend is S$1,000 or above.
Additionally, you can also choose to pay over a term of 1 year for certain Great Eastern life and general insurance plans, when you charge the bill to your OCBC Great Eastern Cashflo Credit Card. The 0% interest also applies on this term.
|Type of fee||Amount payable|
|Annual fee||S$160.50 p.a. (waived for the first two years)|
|Supplementary card fee||S$80.25 p.a. (waived for the first two years)|
|Interest rate||25.92% p.a.|
|Late payment charges||S$80|
|Cash advance fee||S$15 or 6% of sum that has been withdrawn, depending on whichever is higher|
|Interest on cash advance||It stands at 28.92% p.a., and if the interest charges for a month are not fully repaid, the rate of interest will be calculated in a compounding manner, with minimum charge of S$2.50.|
|Administrative fee for IPP termination||S$150 which is for speeding up the process of paying the automatic instalments|
Activation for local use
You can activate your OCBC credit card in on of the following ways:
Activation for overseas use
For overseas use, you can use any of the following ways to activate your card:
Transactions in a foreign currency other than in US dollar, are converted to US dollar first and then to Singapore dollar. This is based on the exchange rate decided by MasterCard, Visa or other card network. A currency conversion charge is applicable on foreign currency transactions, which stands at 1% of the transaction amount for the card network and 1.8% for the bank.
You can apply for this card online through the OCBC website or through a third party source providing such services. You can also visit the closest OCBC bank branch to apply for the card.
This card charges an interest of 25.92% p.a., on all retail transactions. The interest calculation is made on a daily basis starting from the first transaction date until the date payment is made to the bank in full. This is subject to an interest-free period of 23 days.
On the other hand, the interest on cash advance stands at 28.92% p.a., calculated on the amount you withdraw from the card. This is however, subject to daily compounding with a minimum charge of S$2.50, if the monthly interest charge is not received in full by the bank. There is no interest-free period on cash advances.
OCBC Great Eastern Cashflo Credit Card users must make minimum repayments each month, which is calculated as 3% of the current balance that’s outstanding or a flat amount of S$50, depending on whichever amount is higher. However, if the credit limit has been exhausted, or there’s any outstanding dues from before, then the minimum payment will be calculated bit differently. It will include the 3% of the current balance that’s outstanding, plus the previous outstanding due or amount which exceeds the credit limit.
You can make you credit card payments using several modes, such as:
In case the credit card is lost or stolen, you must immediately call on 1800 363 3333 and report the loss or theft. If you fail to report on time, the bank could hold you liable for all unauthorised transactions made on the card.
If the bank was notified immediately about the loss or theft of the card, or unauthorised disclosure of PIN, and you help the bank in the recovery of the charges incurred, the liability amount for yourself will not be more than S$100. However, the loss must not have happened due to your negligence or default.
Q. Do my transactions get split into instalments even if I’m exceeding the credit limit?
A. No. If you are going over the credit limit on this card, it will not be converted to instalments.
Q. What happens if I don’t pay one of the instalment amounts fully for a month?
A. The bank will levy the regular interest rate and other fees as applicable on regular transactions, on the outstanding balance.
Q. What happens if I don’t pay the credit card bill for a month or two?
A. Apart from that being recorded as a default in your credit report, the bank will cancel your instalment plan conversions and you will become liable to pay the full pending amount. You may also not be allowed to convert future purchases into instalments.
Q. Can I change the 0% IPP trigger amount?
A. The default amount at which a transaction is converted to 0% IPP is S$100. But you can change the amount to whatever suits you. If you don’t choose a trigger amount, then the bank will assume a minimum transaction requirement of S$100.
Q. What is not considered as part of yearly spends eligible for annual fee waiver?
A. The following transactions don’t count when the bank calculates what is eligible to get you an annual fee waiver: