Best for Average Spenders Looking to Maximize Rebates on Daily Spend
OCBC 365 Credit Card
On Dining & Food Delivery
at Caltex and Esso
Fuel Spend at all Petrol Stations
The OCBC 365 Credit Card may look like a boring card at the outset, but it’s a great cashback card if you spend a considerable amount on daily expenses. Offering 3% and 6% cashback on dining, food delivery, groceries, and other daily expenses, it is one of the most convenient cards for daily use.
The OCBC 365 Credit Card is best for average consumers spending about S$2,000 a month on daily expenses.
OCBC 365 Credit Card Rewards
Key Features
- 6% cashback on dining and online food delivery
- 3% cashback on local and overseas groceries, land transport, utilities, and online travel
- 5% cashback on fuel spend at all petrol service stations
- 0.3% cashback on all other spendings
- Enjoy up to 22.1% fuel savings at Caltex
- Up to 20.2% fuel savings at Esso
Bill Payment
- 3% cashback on recurring bills from StarHub, Singtel, M1, MyRepublic, CirclesLife
- 3% cashback on recurring electricity bills from Sembcorp Power, Senoko Energy and Keppel Electric
- Rebates are capped at S$800 per month
Petrol/Fuel
- Up to 22.1% fuel savings at Caltex, including an 18% instant discount for all fuel
- Up to 20.2% fuel savings at Esso
- 5% cashback on fuel spend at all petrol service stations
Dining
- 6% cashback on local and overseas dining
- 6% cashback on online food delivery like Foodpanda and Deliveroo
- Minimum spend of S$800 per month, capped at S$80 per month
Groceries
- 3% cashback on local and overseas groceries
Travel
- 3% cashback on booking flights, accommodation, and tours online.
- 0.3% on all general spend overseas
Pros & Cons
Pros
- Attractive 6% cashback on dining and 3% on groceries, transport, recurring bills, and more
- Annual fee waiver with S$10,000 annual spend
- Up to 22.1% fuel savings at Caltex and up to 20.2% fuel savings at Esso
Cons
- Low cashback on general spend, only 0.3%
- Rebate on EZ-Link & Transitlink is capped at S$0.6/month
- High minimum spend requirement of S$800
How to Apply
Age Requirement
21 years old and above
Minimum Annual Income
Singapore and Permanent Residents
S$30,000
Foreigners
S$45,000
Fees and Charges
| Annual Fee | S$192.60 |
| Fee waiver | Waive for First 2 Years |
| Annual Interest Rate | 26.88% p.a. |
| Late Payment Fee | S$100 |
| Cash Advance Fee | $15 or 6%, whichever is highest |
| Minimum Monthly Spend / Monthly Payment: | $50 or 3%, whichever is highest |
| Foreign Currency Transaction Fee | 3.25% |
Income Documents
- Singaporeans / Permanent Residents with SingPass credentials can use Myinfo to apply
- For instant approval, log in to Myinfo using Singpass
- Foreigners or Singaporeans/PRs with no access to Singpass will need to fill up an online application form
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
How Does It Compare With Other Credit Cards In Singapore?
|
Credit Card |
Rewards |
Cashback |
Annual Interest |
Minimum Spend |
Minimum Income Requirement |
|
OCBC 365 Credit Card |
|
6% cashback on dining and online food delivery
3% cashback on groceries, land transport, utilities, and online travel
5% cashback on fuel spend at all petrol service stations
0.3% cashback on all other spendings |
S$192.60 |
S$800 |
Singaporean/PR: S$30,000 Foreigner: S$45,000 |
|
Citi Cash Back Card+ Mastercard |
|
1.6% cashback on eligible spend
Unlimited cashback cap |
26.90% |
S$0 |
Singaporean/PR: S$30,000 Foreigner: S$42,000 |
|
American Express True Cashback Card |
|
3.0% cashback welcome offer (minimum spend of S$5,000 in 6 months) |
26.90% |
S$0 |
Singaporean/PR: S$30,000 Foreigner: S$60,000 |
|
Citi Cash Back |
|
Up to 8% cashback on dining, groceries, and petrol
Up to 20.88% savings from Shell & Esso
Cashback capped at S$80 per category per month |
26.90% |
S$800 |
Singaporean/PR: S$30,000 Foreigner: S$42,000 |
|
American Express Singapore Airlines KriFlyer Credit Card |
S$1=1.1 Miles on local spend
S$1=2 miles on overseas spend
S$1= 3.1 miles on Grab rides |
N/A |
26.90% |
S$0 |
Singaporean/PR: S$30,000 Foreigner: S$60,000 |
|
Standard Chartered Unlimited Cashback Credit Card |
|
Up to 1.5% cashback on eligible spend
Unlimited cashback cap |
26.90% |
S$0 |
Singaporean/PR: S$30,000 Foreigner: S$60,000 |
Benefits and Challenges
The OCBC 365 Credit Card is a great all-around cashback credit card for average consumers who spend on dining, groceries, telco bills, and fuel. Its rebates cover a lot of ground. Plus, the OCBC 365 Credit Card doesn’t restrict cashback rates to specific merchants.
Here are some of the pros of using the OCBC 365 Credit Card:
- Dining Cashback: When you use your card to pay for local or overseas dining, you get 6% cashback. Don’t feel like dining out? You can still avail of the 6% cashback when you order food online.
- Grocery Cashback: Get 3% cashback when you buy groceries – online, locally, or overseas.
- Travel Cashback: Get 3% cashback on booking flights, accommodation, and tours online.
- Utility Cashback: Aside from dining and groceries, you’ll also earn 3% cashback when you use the OCBC 365 Credit Card to pay your telco or energy bills.
- Transport Cashback: Get 3% cashback when you use local or overseas private hire rides like Grab, TADA, and Go-Jek.
- Fuel Savings: Enjoy up to 22.1% discount when you choose to fuel up at Caltex and up to 20.2% off at Esso. On top of that, you’ll also get 5% rebates from other service stations.
The OCBC 365 Credit Card also comes complete with VISA Signature privileges. This means you can enjoy complimentary hotel upgrades, VIP privileges, 24/7 concierge service to assist with reservations, and more.
So are there disadvantages to using this cashback credit card?
- You’ll only get 0.3% cashback on all other spending categories.
- It lacks the convenience of EZ-Link functionality that other credit cards have.
- It has a high minimum spend requirement of S$800. That said, fresh grads or young adults will have to think twice if they can maximize the rewards from this card.
That said, this card is a great overall credit card, especially if you spend more on daily expenses. However, if you’re thinking of using the OCBC 365 Credit Card for online spend on shopping and entertainment, you’ll only be receiving 0.3% cashback.
Our Verdict
A quick look at the table above will show you that there are similar credit cards that are great for daily expenses. One specific card is the Citi Cash Back that offers up to 8% rebates on dining, groceries, and petrol. It also has a similar minimum spend requirement of S$800.
But what makes the OCBC 365 Credit Card stand out is that it is not limited to dining, groceries, and petrol. It also offers an attractive 3% cashback on utilities, land transport, and online travel. That said, their bonus cash rebates cover a lot of ground.
We think that the OCBC 365 Credit Card is a strong choice. No matter what kind of lifestyle you have, you’ll be able to enjoy fair rebates in one or more categories.
However, keep in mind the min. spend requirement to unlock the full cashback rebates. Plus, if you reach S$10,000 spend per year, you’ll be able to waive the annual fees.
OCBC 365 Credit Card Frequently Asked Questions
What Transactions are Not Eligible for the S$800 Monthly Spend?
- Annual card fees
- Cash-On-Instalments
- Instalment Payment Plan
- PayLite
- Tax payments
- Interest, late payment charges
- Cash advances, balance transfers
- Bill payments made via Internet Banking,
- AXS or SAM network, and other fees and charges
How Much Cash Rebates Can I Potentially Earn Every Month?
Cardholders can potentially earn up to S$80 cashback every month. This means you can earn a total of S$960 in rebates annually.
How Is Cashback Awarded?
The rebates earned on the transactions incurred in the current month will be credited to your OCBC 365 card statement in the next month.
Will I Earn Cash Rebates When I Use This Card Overseas?
Yes, you can still get cashback on overseas transactions in foreign currency:
- 6% cashback on local and overseas dining
- 3% cashback on local, overseas, and online groceries
Conclusion
Key Takeaways:
- The OCBC 365 Credit Card is best for average consumers with a monthly spend amounting to S$800 on daily expenses, like dining, groceries, and fuel.
- This cashback credit card offers 3% and 6% cashback on dining, food delivery, groceries, and other daily expenses.
- The annual fee is waived on the first two years. You can waive the annual fees in subsequent years if you spend S$10,000 a year.
Overall, the OCBC 365 Credit Card is a decent cashback card that offers considerable rebates on daily expenses. In fact, it is one of the few cards that offer accelerated cashback for utility and recurring telco bills.
That said, take a look at your spending habits before applying for this card. Remember, you need to hit the minimum spend requirement to maximize rewards. Lastly, make sure that you’re able to pay your credit card bills every month.
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