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    OCBC Platinum Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    OCBC Platinum Credit Card Promotions

    All the promotions below are valid until December 31, 2016.

    • 20% off food bill and beverage bill at Fairmont Singapore.
    • On Lazada.sg, get a rebate of S$7 with a minimum purchase of S$50 with the promo code OCBC16, and a discount of S$10 for each S$50 spent with the promo code OCBC16NEW for new customers. Valid until December 31, 2016.
    • Get S$10 concession on a minimum spending of S$80 at Royal Sporting House until December 31, 2016.
    • Up to 35% discount on flight-cum-hotel packages at AirAsiaGo.
    • 50% discount on Single Trip Plans and 25% concession on Annual Plans on Explorer Travel Insurance.
    • Up to January 31, 2017, 10% discount on hotel bookings for travel up to April 30, 2017, on Expedia by using the promo code OCBC10HOL.
    • Up to March 31, 2017, you can get 3 nights’ stay at Montigo Resorts, Seminyak, at the cost of 2 nights with the promo code OCBCSG.

    OCBC Platinum Credit Card

    A rewards credit card with attractive discounts and promotional deals, OCBC Platinum Credit Card offers you financial freedom and an excellent money management opportunity. This card can be used by anyone and for any kind of expenses, as it rewards all your expenses equally.

    Features of OCBC Platinum Credit Card

    • Annual fee on this credit card is waived for the first 2 years.
    • On spending at least S$10,000 in a year, you will not have to pay the annual fee for the next year.

    Rewards:

    • For every S$1 spent on retail purchases, on medical expenses and insurance premiums on Great Eastern or Overseas Assurance Corporation policies in Singapore, you earn 1 OCBC$.
    • Get OCBC$ rewards on Ez-Link and TransLink transactions, with a maximum of 200 OCBC$ per month.

    The OCBC$ are valid for a period of 2 years from the date of accumulation. All OCBC$ earned from your credit cards – if you have more than one or if you have supplementary cards – will be accrued in one account, making redemption easier and more fruitful. These rewards can be converted into vouchers on the OCBC Rewards portal, and through internet banking, phone banking or mobile banking services. You can also convert them into KrisFlyer Miles. These vouchers can then be used to buy products from the bank catalogue, and at participating merchant outlets including hotel stays and dining. The vouchers are valid for 3 months from the date of redemption.

    Benefits Of OCBC Platinum Credit Card

    • Get up to 14% rebate on fuel purchases at Caltex and Esso
    • Get up to 50% off enrichment and childcare programmes
    • Enjoy promotional deals in travel, dining, leisure and entertainment activities, shopping, and health and wellness centres throughout the year.

    Instalment Payment Plans

    OCBC offers 2 kinds of EMI payment plans: 0% Instalment Payment Plan (IPP) and PayLite. With OCBC IPP, you can spread out the payment for your purchases at over 1,000 stores across Singapore for several months. The decision about how many instalments each purchase through IPP is divided into, rests with the bank. For example, if you buy a gadget for S$1,000, it may be split into 5 instalments of S$200 each. If this EMI amount is not paid every month, it’ll no longer be zero-interest and you’ll have to pay the regular interest charges applicable to the OCBC Platinum Credit Card.

    PayLite allows you to convert bills of more than S$500 into monthly instalments for up to 24 months. You need to apply for PayLite after making the purchase, within 7 days. This facility can be used for purchases at any store in or out of Singapore. The fees and charges that PayLite transactions are subject to are:

    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%

    If you opt for either of the instalment plans, you will not be able to accrue OCBC$ on those transactions.

    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% of the amount or 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

    For foreign currency transactions, an administrative fee of 2.8% – 1% charged by MasterCard and 1.8% by OCBC, will be levied. Overseas payments in Singapore dollar will attract a Dynamic Currency Conversion fee of 1% of the transaction amount.

    Cash Withdrawals:

    OCBC allows you to take money from your credit card, as a loan, in case of emergencies. There are 2 schemes for this: Cash-on-Instalment and OCBC Cash Advance. Cash-on-Instalment is only for online transfer of money from your credit card to another bank account. You need to borrow at least S$1,000, but not more than 90% of your available credit limit including the processing fee and interest rate. The amount can be repaid in fixed instalments for 12 to 60 months. To apply for Cash-on-Instalment, submit an application form online through the OCBC website, or send an SMS – CW –to 72222. The bank will call you within 3 working days to help you with the loan application. The fees and charges applicable are as given in the table below:

    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%

    In case your need is more urgent, you can take a cash advance, wherein you can borrow up to 70% of the credit limit if your card was approved after August 22, 2012, and 100% of your available credit limit if your card was approved before that date. An interest rate of 28.92% will be charged and a cash advance fee of 6%, or S$15, whichever is higher, will be applicable. You can withdraw money either through an OCBC ATM in Singapore or Visa/MasterCard-compliant ATMs overseas, from any of the OCBC bank branches, or by calling 1800 363 3333 (from Singapore) and +65 6363 3333 (from abroad).

    How To Apply For OCBC Voyage Credit Card

    To apply for the OCBC Voyage Credit Card, you can either go to the bank’s website and click on ‘Apply Now’ on the credit card page, or go to the nearest OCBC branch with the required documents and personally place the application.

    Eligibility Criteria For OCBC Voyage Credit Card:

    • 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:

    You have to pay at least 3% of outstanding credit card balance, or S$50, whichever is higher every month. If you have any payment overdue from the previous months, that also should be paid off in the current bill cycle. Paying credit card bills with OCBC is very easy as it gives you several options. You can pay in the methods listed below:

    • At OCBC Bank ATMs
    • Through Fast And Secure Transfers (FAST) fund transfers from accounts of participating banks
    • Via InterBank GIRO transfer
    • Using OCBC Mobile App
    • Through internet banking from any bank account
    • Via Phone Banking
    • By writing a cheque in favour of OCBC Bank – Credit Cards with you card number written on the back side of the cheque leaf. 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
    • Through cash at bank branches or cash deposit machines
    • Using AXS Stations and iNETS kiosks

    Card Protection Schemes

    On payment of a small premium amount, you can protect your credit cards against fraud, and also obtain a life cover for yourself. The card protection schemes available with OCBC are:

    1. Card balance insurance (CreditWise): CreditWise gives you a cover of up to S$60,000 against your death or permanent disability. If the death is accidental, the family gets an extra 50% of the sum assured, capped at S$60,000. The premium charge is S$0.40 per S$100 of your outstanding credit card bill every month.
    2. Fraud protection insurance (CardSecure): You can get up to S$3,000 in case of credit card fraud on lost or stolen cards, 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 access emergency cash advance of up to S$10,000 when outside Singapore. The yearly premium for CardSecure is S$52.43 for the primary cardholder and S$93.63 for 4 persons in the family apart from the primary cardholder.

    Reporting Lost/Stolen Credit Cards:

    The first thing to do if your credit card is lost or stolen or misplaced is to call the OCBC Phone Banking centre, report the loss, and get your card blocked, thereby preventing fraudulent expenses. IF the card has been stolen, you may also want to take legal measures such as filing a police complaint. The maximum amount accountable to the bank by you if the card is used by someone else before you report the loss, is S$100. However, this minimal liability clause is applicable only if you can prove to the bank that you are not acting deceitfully or trying to cheat the bank, and you are able to report the loss of credit card as soon as you discover it.

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