All the promotions below are valid until December 31, 2016.
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.
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.
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$500 into monthly instalments for up to 24 months. You need to apply for PayLite after making the purchase, within 7 days. This facility can be used for purchases at any store in or out of Singapore. The fees and charges that PayLite transactions are subject to are:
|PayLite duration||EIR||Processing fee|
If you opt for either of the instalment plans, you will not be able to accrue OCBC$ on those transactions.
Fees And Charges:
|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|
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.
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|
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).
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:
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:
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:
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.