Credit Card Comparison: Citi Rewards vs OCBC Rewards vs HSBC Revolution

SingSaver team

SingSaver team

Last updated 02 April, 2024

Choices are never easy. That’s why, we do the math, so you don’t have to. Compare This, a SingSaver series, is here to help make decisions a little easier for you.


Earn 10X rewards with no minimum spend? Enter Citi Rewards, OCBC Rewards, and HSBC Revolution. These top rewards credit cards deserve to be on your radar if you’re keen on racking up rewards points at record speed.

You can count on rewards credit cards to make each dollar of yours work hard for you as you spend. Of course, rewards credit cards like Citi Rewards, OCBC Rewards, and HSBC Revolution are supremely strong contenders to consider if you enjoy shopping and online shopping and are thrilled to start earning 10X rewards on your purchases. 

In this Citi Rewards vs OCBC Rewards vs HSBC Revolution three-way comparison, you will learn more about what each card has to offer as well as important things to note in this rewards apple-to-apple-apple comparison. 

Table of contents


Looking for the best credit cards to complement your spending patterns and expenditure in 2024? Check out our Ultimate Credit Card Guide that covers all things credit cards in Singapore – from choosing between a cashback, miles, or rewards credit card to planning your credit card strategy.


Similarities: Citi Rewards vs OCBC Rewards vs HSBC Revolution

Credit card 
Key benefits
Citi Rewards Card
CITI_REWARDS_MASTER
10X rewards on shopping, online shopping, online food delivery, online groceries, Grab, Gojek rides
 
1X reward on all other spend
OCBC Rewards Card
OCBC-Rewards
50 OCBC$ for every S$5 spent on eligible online and retail purchases
 
5 OCBC$ for every S$5 spent on all other purchases
HSBC Revolution Card
HSBC-Revolution-New
10X rewards on online and contactless spending
 
1X reward on all other spend 

What these rewards credit cards have in common

Citi Rewards, OCBC Rewards (previously OCBC Titanium Rewards) and HSBC Revolution are accessible rewards credit cards that only require a minimum annual income of S$30,000. A common attribute of all three credit cards is that there is no cap on base rewards points earned. Also, there’s no minimum spend required to start earning 10X rewards.


How these rewards credit cards differ

Credit cards aren’t created equal. While Citi Rewards, OCBC Rewards and HSBC Revolution all reward you on your spending, there are several differences between these cards you ought to know if you’ve been thinking about adding either one of these cards to your wallet(or mobile wallet). Read on to find out which card could be the right fit for you and your needs.

[UPDATE!] Comparison #1: Rewards workings

  Citi Rewards OCBC Rewards HSBC Revolution
Rewards workings 10X rewards (4 mpd) on online and shopping purchases, excluding travel

10X rewards (4 mpd) on rides with Grab, Gojek and more

10X rewards (4 mpd) on online food delivery

10X rewards (4 mpd) on online groceries 

1X reward (0.4 mpd) on all other retail spend, no cap

10X rewards capped at 10,000 points per month i.e. S$1,000 spent

15 OCBC$ for every S$1 spent on selected retailers per quarter

  • [New!] From 1 April to 30 June 2024, OCBC Rewards Cardholders will earn 15 OCBC$ (6 miles) for every S$1 spent at Watsons, department stores or duty-free shops.

10 OCBC$ for every S$1 spent on eligible online and offline retail purchases

1 OCBC$ for every S$1 spent on all other purchases, no cap

10,000 bonus OCBC$ cap per calendar month, up to 120,000 bonus OCBC$ cap per year

Enjoy extra 2% cash rebate in addition to 50 OCBC$ (worth 20 miles) for every S$5 spent at BEST Denki

10X rewards (4mpd) on online purchases such as shopping, food delivery or travel bookings 

10X rewards (4 mpd) on contactless payments made through Visa payWave and Apple Pay

1X reward (0.4 mpd) on all other retail spend, no cap 

10X rewards capped at 10,000 points per month i.e. S$1,000 spent


The rewards workings for Citi Rewards, OCBC Rewards and HSBC Revolution aren’t entirely the same although all three rewards cards let you earn 10X rewards on specific categories, albeit with a cap — monthly S$1,000 spend on 10X rewards categories for Citi Rewards and HSBC Revolution; average monthly S$1,100 spend on 10X rewards categories for OCBC Rewards. 


Comparison #2: Minimum spend required to earn 10X rewards

 
Citi Rewards
OCBC Rewards
HSBC Revolution
Minimum spend required to earn 10X rewards
NIL
NIL — However, OCBC$ is earned on each block of S$5 charged to the card per transaction. No partial or pro-rated award of any OCBC$ will be entertained 
NIL

Although there’s no minimum spend required for cardmembers to start earning 10X rewards on their spending, keep in mind that OCBC Rewards OCBC$ for every block of S$5 spent. This applies even to cardmembers’ 1X reward expenses.


Comparison #3: Rewards expiry

 
Citi Rewards
OCBC Rewards
HSBC Revolution
Rewards expiry
Citi ThankYou Points expire after a period of 60 months, counted from your card approval date
OCBC$ earned will expire on the last day of the 24th calendar month calculated/commencing from the relevant calendar month in which such OCBC$ was earned
All HSBC Rewards Points awarded expire at the end of a 37-month period which shall commence from the month subsequent to the month in which such points were awarded

While OCBC$ expires quickest amongst the three, keep in mind that Citi Rewards' points expiry can be tricky.

For starters, most people aren't aware that the maximum points validity is five years. Cardmembers have to accrue and redeem their points in fixed five-year periods, counted from their card approval date.

If you were to accrue points towards the end of your fixed five-year period, those points would only be valid for a short period of time. Citi does offer a three-month grace period, though.

These are things to consider when thinking about which rewards credit card to go for, especially if you are gunning for big rewards like free flights or hotel stays as those require a fairly huge amount of rewards points hence a longer period of time to accumulate.

SingSaver Exclusive Offer: Enjoy the following rewards when you sign up for an HSBC TravelOne Card.

Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$529) or an Apple Watch Series 9 (worth S$604.50) or S$400 eVoucher (Redeem from merchants like Klook) or 27K Max Miles upon activating and spending min. S$1,000 plus pay annual fee of S$196.20 by end of the following calendar month from the card account opening date and providing marketing consent. Available for both NTC and ETC holders. Valid till 30 June 2024.  T&Cs apply.

Rewards Upgrade Campaign_BLOGARTICLE_800x250

⬆️Rewards Upgrade Campaign⬆️: Upgrade your rewards when you top up S$200 to get a Sony Portable Theatre System HT-AX7 (worth $$769). Alternatively, top up S$588 for a Sony ZV-1M2 Vlog Camera (worth $1,209) or top up S$1,099 for an Apple iPhone 15 Pro 128GB (worth S$1,664.25). Valid till 30 June 2024.  T&Cs apply.


Comparison #4: Extra perks

  Citi Rewards OCBC Rewards HSBC Revolution
Extra perks Enjoy complimentary travel insurance when you charge your airfare to the card


All online purchases charged to the card come with e-Commerce Protection, which safeguards you against non-delivery or defective goods or if the seller fails to reimburse you

No annual fee

Free ENTERTAINER with HSBC access, with 1-for-1 dining, lifestyle and hotel deals

The additional perks that come with each of the three cards are quite varied. The most tangible benefits, at least for me, are those that HSBC Revolution offers. You might be more inclined to go with Citi Rewards or OCBC Rewards and that’s entirely OK. Everyone has different wants and preferences.


Conclusion: Which one should you choose?

Citi Rewards, OCBC Rewards and HSBC Revolution offer generous rewards on your spending if you spend under those listed qualified categories. The best one for you largely depends on your lifestyle and spending habits. 

HSBC-Revolution-New

Choose HSBC Revolution: HSBC Revolution is more straightforward in that cardmembers who spend online or make contactless payments through Visa payWave and Apple Pay get to earn 10X rewards on their spending. It’s as easy as that, there’s no need to bother about specific spending categories at all. 

The additional perks that come with HSBC Revolution are enticing too — perpetual waiver of the card’s annual fee and plenty of awesome 1-for-1 dining, lifestyle and hotel deals for you to enjoy at no extra cost.

[Update!] From 1 January 2024 onwards, the HSBC Revolution Card will no longer earn 10X Rewards on MCC 4722 (Travel Agencies & Tour Operators) and MCC 7011 (Lodging - Hotels, Motels, and Resorts). These are called merchant category codes and they're responsible for dictating a credit card's merchant eligibility in earning bonus rebates.

Unfortunately, since this card follows a bonus whitelist approach, as long as the merchant falls under these codes, they will not be recognised as eligible bonus transactions anymore.

[Update!]The nerfs don't just stop there. Starting 1 May 2024, three more MCCs will be removed from the list: MCC 5411 (Supermarkets), MCC 5499 (Miscellaneous Food Stores), and MCC 5814 (Fast Food).

Moving forward, below are examples of affected merchants of these MCC exclusions: 

MCC 7011 (Lodging - Hotels, Motels, and Resorts) 🏠
  • Airbnb
  • Marina Bay Sands
  • Millennium Hotels & Resorts
  • M Social
  • Pan Pacific Hotels
  • Rakuten Travel
  • Resorts World Sentosa
MCC 4722 (Travel Agencies & Tour Operators) ✈️🌍
  • Agoda
  • Changi Recommends
  • Expedia
  • Hotels.com
  • Kayak
  • KKday
  • Klook
  • Pelago
  • Skyscanner
  • Traveloka
  • Trip.com
  • All brick-and-mortar travel agents (e.g. Chan Brothers)
MCC 5411 (Supermarkets) 🛒
  •  Cold Storage
  • NTUC FairPrice
  • Sheng Siong
  • Redmart
  • Giant
  • Don Don Donki
  • Little Farms
MCC 5499 (Miscellaneous Food Stores) 
  • 7-Eleven
  • Cheers
  • foodpanda
  • iHerb
  • Nespresso
  • Crave
  • Shihlin Taiwan Street Snacks
MCC 5814 (Fast Food) 🍔
  • McDonald's
  • Starbucks
  • Ya Kun Kaya Toast
  • KFC
  • Kopitiam
  • Old Chang Kee
  • Subway
  • Koufu
  • Pizza Hut

It's also important to note that certain major hotel chains such as the Hilton (MCC 3504) and Hyatt (MCC 3604) have their unique MCCs falling in the 3500-3999 range. Thus, you'll need to conduct your own checks to verify which MCC your transactions at theses hotels fall under.

This is a significant pity considering that the HSBC Revolution Card has consistently been a trustworthy miles credit card for overseas travel. But now, it seems as though it'll be overshadowed by its counterpart, the HSBC TravelOne Credit Card, as HSBC's main card for travel-related and overseas transactions. 

HSBC TravelOne

SingSaver Exclusive Offer: Enjoy the following rewards when you sign up for an HSBC TravelOne Card.

Receive a Dyson Supersonic™ hair dryer (worth S$699) or an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$529) or an Apple Watch Series 9 (worth S$604.50) or S$400 eVoucher (Redeem from merchants like Klook) or 27K Max Miles upon activating and spending min. S$1,000 plus pay annual fee of S$196.20 by end of the following calendar month from the card account opening date and providing marketing consent. Available for both NTC and ETC holders. Valid till 30 June 2024.  T&Cs apply.

Rewards Upgrade Campaign_BLOGARTICLE_800x250

⬆️Rewards Upgrade Campaign⬆️: Upgrade your rewards when you top up S$200 to get a Sony Portable Theatre System HT-AX7 (worth $$769). Alternatively, top up S$588 for a Sony ZV-1M2 Vlog Camera (worth $1,209) or top up S$1,099 for an Apple iPhone 15 Pro 128GB (worth S$1,664.25). Valid till 30 June 2024.  T&Cs apply.


Choose Citi Rewards: In a way, the Citi Rewards Card is one of the most diverse and useful rewards cards out there. Granting 10X ThankYou Points (or 4 miles per S$1) on all eligible expenses with no minimum spend, accumulating miles will become like second nature. 

Whether it's a shopping spree, a spontaneous taxi ride, or ordering food delivery and online groceries to your doorstep, all these will effortlessly contribute to your growing treasure trove of rewards. It'll definitely make for a good lifestyle credit card.

💡 Pro-tip: The Citi Rewards Card can be paired with the Instarem amaze Card because it's a Mastercard. This immediately unlocks a whole new door to earn miles and points even while overseas! And that's on top of the cash rebate from the amaze Card itself.  

Not to mention, the Citi Rewards comes with complimentary travel insurance, so you're truly all set for your next trip with this top-tier card combo!

See also: Digital Multi-Currency Account Comparison 2023: YouTrip, Wise, Revolut, etc.

✨SingSaver Score Big CC Campaign Phase 2✨: Be one of the first applicants to score a rewards upgrade to a PlayStation®5 (Slim) Disc Edition (worth S$799) when you apply for participating products in SingSaver. Limited to the first 600 Citi CC & first 400 SCB Simply Cash CC eligible applicants only. Remaining applicants will enjoy existing rewards. Check out FAQs here. Valid till 30 June 2024. T&Cs apply.

SingSaver's Exclusive Offer: Receive the following rewards and experience Fastest Rewards Fulfilment when you sign up for a Citi Credit Card:

📣ONLY AVAILABLE ON SINGSAVER📣: Citi PremierMiles Card and Citi Prestige Card:

Get a Dyson Supersonic (worth S$699) or a Dyson Micro 1.5kg Vacuum (worth S$599) or an Apple iPad 10th Gen 10.9 WiFi 64GB (worth S$529) or S$450 eCapitaVoucher upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 30 June 2024. T&Cs apply.

For Citi Premier Miles Card:  Get an additional S$100 eCapitaVoucher when you simultaneously open a Citi Citigold Account. Valid until 30 June 2024. T&Cs apply.

Other Citi Credit Cards: Receive a Sony Portable Theatre System HT-AX7 (worth S$759) or a Dyson Supersonic (worth S$699) or an Apple iPad 10th Gen 10.9 wifi 64GB (worth S$529) or S$450 eCapitaVoucher or S$300 cash via PayNow upon activating and spending a minimum of S$500 within 30 days of card approval. Valid until 30 June 2024. T&Cs apply.

Rewards Upgrade Campaign_BLOGARTICLE_800x250

⬆️Reward Upgrade Campaign⬆️: Upgrade your rewards when you top up S$1,200 for an Apple MacBook Air 13” (M3 chip) 256GB (worth S$1,599) or an Apple iPhone 15 Pro 128GB (worth S$1,664.25). Alternatively, top up S$1,786.00 for a Samsung Galaxy S24 Ultra Titanium Gray 12+512GB 5G (worth S$2,128). Valid till 30 June 2024. T&Cs apply.


OCBC-Rewards

 

 

Choose OCBC Rewards Card: Since 15 January 2024, the OCBC Titanium Rewards Card has now been officially rebranded to the OCBC Rewards Card. Apart from a swanky new colour design, there are some other mechanic changes as well.

You can now earn 15 OCBC$ per S$1 (equivalent to 6 mpd) spend on selected retailers per quarter. [UPDATE!] In fact, from 1 April to 30 June 2024, OCBC Rewards Cardholders will earn 6 mpd at Watsons, department stores or duty-free shops. These retailers change every three months.

Note: Before this, the only other miles cards offering such rates were the UOB Lady's / Lady's Solitaire Cards

Meanwhile, you can continue to earn 10 OCBC$ per S$1 (4 mpd) on eligible online and in-person shopping.

That said, do take note of the changes made to the list of eligible MCCs. The following merchants are no longer eligible for bonus OCBC$:

Ineligible merchants ❌
MCC 5045 Computers, Peripherals, and Software
Apple, Aftershock, Dreamcore, Prism, Plus, Dell, etc.
MCC 5732 Electronics Stores
Best Denki, Harvey Norman, Gain City, Challenger, etc.
IKEA, Courts
 

In their stead, they've been replaced with a new selection of eligible MCCs:

Eligible merchants ✅
MCC 5309 Duty Free Stores
Lotte Duty Free, King Power Duty Free, The Shilla Duty Free, etc.
MCC 5655 Sports and Riding Apparel
Nike, Lululemon, Adidas, etc.
MCC 5941 Sporting Goods Stores
Decathlon, Fila, New Balance, etc.
MCC 5948 Luggage or Leather Goods Stores
Louis Vuitton, Coach, Rimowa, Boarding Gate, etc.
TikTok Shop
 
Guardian, NTUC Unity, Watsons
 

Here's the updated consolidation of all the current eligible MCCs:

Source: OCBC

If you are a new homeowner who’s looking to furnish your home with a myriad of home appliances and furniture, consider OCBC Titanium as you stand to enjoy an extra 2% cash rebate on your purchases at BEST Denki.

[Update!] Although the OCBC Titanium Rewards Card maintains its 120,000 bonus OCBC$ annual cap, this cap is now split and limited to a maximum of only 10,000 bonus OCBC$ per calendar month.

Together with the removal of MCCs 5045 and 5732, these two big changes spell a loss in OCBC Rewards' utility for big-ticket purchases overall – since electronics, computers, and other software can often be considered major (and costly) household purchases. 

OCBC_CC_Travel_Bundle_KV2_BLOGARTICLE_800x250

🎫Jay Chou Concert Tickets Giveaway🎫: Apply for an OCBC credit card via SingSaver and get a chance to win a pair of Cat1 Jay Chou Concert tickets for 11 October 2024. Only 4 pairs are up for grabs! No minimum spend required. Applicable to both existing and new OCBC credit card holders. Valid till 14 July 2024. T&Cs apply.

SingSaver's Exclusive Offer: Receive the following rewards when you apply for select OCBC credit cards:

Get a Travel Bundle [Samsonite Volant Spinner 68/25 EXP + Apple AirTag] (worth S$525.40) or an Apple AirPods (Generation 3) with Magsafe Charging Case (worth S$274) or S$220 eCapitaVoucher or S$200 Cash via PayNow when you make a min. spend of S$500 within 30 days of card approval. Available for new OCBC cardholders only. Valid till 31 July 2024. T&Cs apply.


If for some reason, none of these rewards credit cards are what you're looking for, maybe compare these other alternative cards with us on our SingSaver site below!

 

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