OCBC 365 Credit Card | Top Credit Cards in Singapore

Credit Cards

When you have multiple cashback, air miles, and rewards credit cards, it’s a common experience to find yourself red-faced in line, fumbling through your wallet, desperately trying to remember which card was designated for grocery shopping. In this blog, we tell you about the OCBC 365 credit card in Singapore. 

Summary of the OCBC 365 Credit Card

The OCBC 365 Credit Card is extremely boring, which is why it is such an excellent all-around cashback credit card for anyone who spends money on “the usual stuff.” Bonus cash rebates are available on a variety of purchases, including dining, online travel, groceries, telco bills, and even gasoline.

Minimum Income and Fees 

The OCBC 365 Credit Card waives fees for two years. This, combined with a low minimum income requirement of $30,000 per year, makes it an entry-level card appropriate for the majority of working adults. This card’s bonus cashback rates cover a wide range of everyday expenses, including dining, groceries, utilities, and transportation. Whatever your lifestyle is, you should be able to get some cashback in one or more of the above categories.

The OCBC 365 Credit Card offers cashback on recurring utility bills and phone bills, which are typically excluded from cashback benefits by most credit cards. Furthermore, what makes the OCBC 365 Credit Card so appealing is the 5% cashback on petrol purchases. Caltex and Esso offer fuel savings of up to 22.1% and 20.2%, respectively.

Given how high gasoline prices have risen, the instant fuel discounts and cashback will undoubtedly save you money. However, these benefits are not unlimited. You want it. The OCBC 365 Credit Card has an overall cashback cap of $80 per month that you can earn.

Minimum Spend 

To qualify for the cashback rates listed in the table above, you must spend $800 per month on the card. Otherwise, you’ll only get 0.3% cashback on all qualifying purchases. Because there are no cashback caps for individual spend categories, all you have to worry about is meeting the minimum spend. You’re basically only expected to do the bare minimum.

Should I apply for the OCBC 365 Credit Card?

With bonus cashback on dining, groceries, telco bills, and gasoline, the OCBC 365 Credit Card is ideal for anyone who pays for their own expenses.

With a generous 3% cashback rate, the card is one of the few that offers accelerated cashback for telco spending. This is an excellent card to obtain if you pay large telco bills or phone bills of multiple people (for example, your spouse, children, or elderly parents). The $800 minimum monthly spending requirement may be prohibitive for some, but given the variety of cashback categories available, it’s reasonable. Furthermore, your Deliveroo lunches and RedMart purchases will be considered dining and shopping.

Online travel is also ideal for adventurers: you can book flights, cruises, train tickets, and accommodations directly from the provider (e.g., airline or hotel) or through aggregators (e.g., Agoda, Expedia, etc.) and receive 3% cashback. The OCBC 365 Credit Card used to be a good option for new cardholders. However, with an $800 minimum spend, recent graduates will have to reconsider whether they can realistically benefit from this card.

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