OCBC 365 Credit Card Review (2023): Cashback Card For Day-to-Day Spending

One of the best cashback cards for everyday spend, OCBC 365 credit card helps you save big time on dining, groceries and petrol – all 365 days a year.

With higher cashback rates given for many different categories, the OCBC 365 will fit right into your wallet as your go-to credit card. 

Savvy spenders will want to optimise the OCBC 365 Credit Card by focusing on its highest cashback categories — dining and petrol, which give 5% and 6% cashback respectively. Spending on other day-to-day categories such as grocery spend, utilities, electricity bills and ride-sharing will also earn modest cashback. 

Besides that, the OCBC 365 Card also offers 3% cashback, you can now earn on drugstore, streaming and even Electric Vehicle (EV) charging – how good!

Plus, the cashback cap has been increased to S$160 compared to the previous S$80.

You can start spending immediately upon approval to use its automatic 2-year annual fee waiver fully.

Table of contents

• Overview: OCBC 365 Credit Card
• Reasons to get the OCBC 365 Credit Card
• Eligibility, fees & charges
• How to apply?
• Should you get the OCBC 365 Credit Card?

What the OCBC 365 Credit Card can do for you

OCBC 365 credit card product summary:

• Highest cashback rate you can earn: 6%
• Minimum monthly spend: S$800 / S$1,600
• Maximum cashback you can earn: S$80 / S$160 a month 
• Annual income requirement: S$30,000 (Singaporeans/PR), S$45,000 (Foreigners)
• Annual fee: S$194.40 (First 2 years waived)

Benefits of the OCBC 365 Credit Card

#1: Cashback across a wide range of categories

The OCBC 365 credit card packs a punch with attractive cashback rates for multiple different categories, including:

• 5% cashback on local and overseas dining including online food delivery
• (Upsized!) 6% cashback on fuel spend at all petrol service stations
  • Up to 22.92% in fuel savings at Caltex (inclusive of 18% discount for all fuel)
  • Up to 21.04% cashback at Esso
• 3% cashback on local and overseas groceries, including online grocery delivery
• 3% cashback on local and overseas ride-sharing services, including both private-hire vehicles and taxis (e.g. Grab, Gojek, TADA and ComfortDelGro)
• 3% on telco bills and electricity bills
• [New] 3% cashback on streaming spend
• [New] 3% cashback on drugstore spend
• [New] 3% cashback on electric vehicle charging

All other spendings will earn 0.25% cashback. To earn these cashback rates, you will have to spend a minimum of S$800 in a calendar month.

💡Pro-tip: Another great UOB card offering cashback on a wide spectrum of spending is the UOB One Card. Offering a base 3.33% cashback, this rate can go up to as high as 15% if you're a new-to-UOB customer, or 10% if you're an existing UOB customer.

#2: Perfect for spending on daily necessities for the family

For most families, dining, groceries, Grab rides, and petrol costs are amongst the common monthly expenditure you’ll have to pay for. The OCBC 365 Visa credit card ensures that you get a fraction of that spending back in your pocket. 

With 5% cashback on dining, this means getting S$10 back if you give the family a S$200 dinner treat on a special occasion. Dining cashback is given regardless of whether it’s weekday or weekend dining.

For homebodies, this also applies to online food deliveries. When restocking your groceries for the week, you’ll also get 3% cashback, including online groceries from Redmart and FairPrice Online. 

#3: To pay for recurring utility and telco bills

Most credit cards exclude cashback rewards for utilities and bill payments.

This is where the OCBC 365 Visa credit card stands out by offering 3% cashback on your recurring telco bills and electricity bills, making it one of the best cards for paying utility bills.

#4: Cashback cap is not limited to specific categories

The OCBC 365 Visa credit card is liberal in a way that it does not fix your cashback cap to specific categories.

You can max out the cashback by only spending on a single category if that’s what you prefer.

This provides more flexibility, allowing you to earn more cashback for categories you spend more on. It also comes in handy for those utilising multiple cashback cards to earn more. 

Hitting the minimum S$800 minimum spend will see you earn S$80 cashback cap but if you are a big spender, hitting a S$1,600 minimum spend will unlock a S$160 cashback!

💡 Pro-tip: Speaking of not being limited by categories, the UOB EVOL Card is another generous cashback card offering 8% cashback on online and mobile contactless spend. Say bye bye to pesky expense tracking, and hello to fuss-free spending.

OCBC 365 credit card fees

• Annual fee: S$194.40 (First two years waived). Spend S$10,000 in one year, starting from the month after your card was issued to get an automatic waiver of annual fee. 
• Late payment charge: S$100 if minimum payment is not received by due date
• Minimum monthly payment: 3% of total balance or S$50, whichever is higher, plus any overdue amounts
• Interest on purchases: 27.78% p.a. with minimum charge of S$2.50 a month
• Interest on cash advance: 28.92% p.a. on the amount withdrawn subject to compounding, with minimum charge of S$2.50
• Cash advance fee: S$15 or 6% of amount, whichever is greater
• Foreign currency transaction fee: 3.25%

OCBC 365 credit card eligibility criteria

• At least 21 years of age
• Minimum annual income for Singapore citizens and PRs: S$30,000 
• Minimum annual income for Foreigners: S$45,000 

For the card's full list of spend exclusions, refer here.

How to apply? 

Click on the ‘Apply Now’ button on this page and complete the application form on SingSaver site. You might need to prepare the following documents for the application process:

• Front and back of NRIC/Passport/Employment Pass
• Salaried employees: Past 6 months' CPF statement (Singaporean/PR) or latest Income Tax Notice of Assessment and latest original computerised payslip
• Self-employed / Commission earner: Latest Income Tax Notice of Assessment or latest 12 months' CPF statement
• Foreigners:
  • Passport
  • Employment Pass
  • Latest original computerised payslip and latest Income Tax Notice of Assessment or original company letter certifying employment and salary

Should you get the OCBC 365 Credit Card?

In general, the OCBC 365 Card is most popular if you need a reliable cashback credit card for everyday spend. It doesn't matter if you're a working adult or a stay-at-home wife/husband, the OCBC 365 Card pretty much works for almost everyone.

From dining and online food delivery, to groceries, public transport, utilities and bills, fuel, streaming, drugstore and even electric vehicle charging, it's undeniably one of the best all-rounded cashback cards out there.