OCBC Titanium Rewards MasterCard is a rewards credit card that comes with attractive privileges. The card gives up to 10 times the usual amount of rewards points on shopping online, offline, in Singapore or abroad. The card comes with lucrative offers, amenities and perks. This is an ideal card for the young generation.
Here are some awesome promotional offers to entice you towards this credit card:
Here are some great features of this card:
How does the OCBC Titanium Rewards MasterCard incentivise your card usage? Let’s take a look:
Owning this credit card gives you several privileges, which are listed below:
Insurance provided by the card
E-commerce Protection: All your online purchases are covered against the following – non-delivery or partial delivery of items up to 30 days, failure of merchant to refund within 60 days, delivery of goods in a damaged condition, and malfunctioning of products within 60 days of delivery due to damage while in transit. The maximum claim for a year is US$200.
OCBC has two types of instalment payment plans: the 0% Instalment Payment Plan (IPP) and PayLite. These are very useful if you are making large purchases and don’t want to charge the entire amount to your card one go.
OCBC IPP allows you to split a payment into multiple instalments that can be paid back over a few months. You can enjoy this scheme at over 1,000 participating outlets across Singapore, including educational institutions, automotive businesses, shopping, insurance payments, travel, beauty and wellness centres, and health clinics. The decision of the duration of the IPP for a particular purchase and the repayment amount per instalment depends on the bank. If you do not pay the instalment amount every month on schedule, the regular interest charges on OCBC credit card will become applicable.
OCBC PayLite allows you to convert purchases worth more than S$500 into fixed monthly repayments. The instalments can be spread out over a maximum of 2 years. You can apply for PayLite after making the purchase, through online banking or PayLite form, within 7 days of making the transaction. You can use this scheme for purchases made from any merchant in Singapore and abroad. Apply online for PayLite by 31 December 2017 and get up to S$20 cashback.
|Type of fee||Amount payable|
|Annual fee||S$192.60 (Free for the first 2 years, waived thereafter on spending a total of S$10,000 or more on the card in the previous year)|
|Supplementary card fee||S$96.30 (Free for the first 2 years)|
|Interest rate||25.92% p.a.|
|Minimum monthly payment||S$50 or 3% of the outstanding amount, whichever is greater|
|Late payment charges||S$100|
|Cash advance fee||S$15 or 6% of the withdrawn amount, whichever is greater|
|Interest on cash advance||28.92% p.a.|
Transactions made in US Dollars are converted into Singapore Dollars. Transactions made in other currencies are first converted into US Dollars and then converted into Singapore Dollars. Such transactions carry with them a fee inclusive of conversion fee and administrative fees. That comes to 1% of the transaction amount and 1.8% of the transaction amount respectively. Conversion is done at the prevailing exchange rates at the time of posting and not at the time of making the transaction. Transactions made overseas but effected in Singapore Dollars are subject to an additional international transaction processing fee or dynamic currency conversion fee, which comes up to 1% of the transaction amount for both Visa and MasterCard transactions.
If you are in dire need of money, you can make cash withdrawals from your credit card. That will be equal to getting a short-term personal loan. These cash advances come at a cost – you will be charged 6% of the withdrawn amount (at least S$15) as cash advance fee, and an interest of 28.92% is applicable on the withdrawn amount. You can make cash withdrawals both in Singapore and overseas, from OCBC ATMs, or affiliated MasterCard/other bank ATMs.
Applications for the OCBC Titanium Rewards card can be made either online through the OCBC website or through a third party financial website that provides the services. Alternatively, you can also make offline applications by visiting the nearest OCBC branch.
The following documents need to be presented in order to successfully apply for this credit card:
The OCBC Titanium credit card charges an interest rate of 25.92% on all transactions and 28.92% on all cash advances. The cash advance interest is levied from date of advance until it has been fully repaid. Interest on purchases is applicable only if you do not pay the full bill by the due date of the current statement. So you have to pay interest on transactions only if you are carrying over any amount for the next month. You get an interest-free grace period of up to 23 days.
The minimum monthly payment is either S$50 or 3% of the current outstanding balance. If you have previous outstanding dues or have exceeded the credit limit, you should pay these dues off in addition to the minimum monthly payment. Late payments attract a penalty of S$100 (revised from S$80 since 1 June, 2017).
If you lose your card or it is stolen from you, then you need to report the loss/theft of the card to OCBC bank by calling the 24-hour helpline at 1800 363 3333. If you do not do so promptly, you will end up being liable for all unauthorised transactions made using the lost/stolen card. If you report loss or theft of the card immediately, then your liability towards unauthorised transactions made after filing the report will be limited to just S$100.