OCBC 365 Credit Card Review (2020)

One of the best cashback cards for daily spending on food, groceries, commuting and dining.


  • 6% cashback on local/overseas dining and online food delivery
  • 3% cashback on telco and electricity bills, 3% cashback on flight, cruise and hotel online bookings (e.g. Agoda and Airbnb)
  • Up to 23% cashback on fuel savings at Caltex (until 31 March 2019)


  • Monthly cashback capped of $80
  • Minimum monthly spend of $800
  • Online transactions exclude purchases made via telephone or mail order
Summary of Product
Highest Cashback Rate: 6%
Minimum Monthly spend: $800
Income Requirement: $30,000 (Singaporeans/PR), $45,000 (Foreigners)
Minimum Age: 21
Annual Fee (Waiver): $192.60 (First 2 years waived)
Sign-up promotion: Yes ($100 cashback for new customers)

Table of Content

Why you should choose the OCBC 365 credit card

Do you spend across a range of categories?
The OCBC 365 credit card really packs a punch with attractive cashback rates per category spend. Here’s the top ones:
  • 6% cashback on local and overseas dining including online food delivery
  • 5% cashback on fuel spend at all petrol service stations locally and overseas
  • 3% cashback on local and overseas groceries, including online grocery delivery
  • 3% cashback on local and overseas ride-sharing services, including taxis
  • 3% cashback on online hotel and tour bookings
  • 3% on telco bills and electricity bills
  • 3% cashback on online air and cruise tickets
  • 0.3% cashback on all other spending
Do you spend on groceries and food, both online and offline?
OCBC 365 credit card offers 6% cashback on all-day dining (including weekends), and this even applies to online food deliveries. The card also offers 3% cashback on local and overseas groceries including grocery deliveries by NTUC FairPrice On and Honestbee. What makes OCBC 365 credit card stand out versus other cashback cards is it does not restrict cashback to specific merchants. Cardholders can shop and earn cashback from all supermarkets without worrying about losing out on your cashback. This card is termed as the “every day” card as the cashback you’ll earn is not restricted to weekends, which makes it a hassle-free card for your day-to-day spend.
Do you spend around $800 every month?
To qualify for the cashback rates, you need to charge at least $800 per month on your OCBC 365 credit card. Your spending would likely fall into one of these categories which the OCBC 365 Credit Card offers cashback: namely dining, petrol, utilities, groceries, transportation and online purchases. With a monthly spend of $800 per month or $9,600 per year, you could save up to $960 in cashback per year (or $80 per month). That’s a pretty sweet deal. However, if you tend to spend a lot more than that, it’s better to charge your credit card spend to another card once you’ve hit the cashback cap of $80 per month (as a rule of thumb, this works out to around $1,300 if you spend only on dining).
Are you the one in charge of paying recurring utility and telco bills?
Most credit cards exclude cashback rewards for utilities and bill payments. This is where the OCBC 365 Credit Card stands out by offering you 3% cashback on your recurring telco bills and electricity bills, making it one of the best cards for paying utility bills.

Using the OCBC 365 credit card in your favour

Optimize the use of the OCBC 365 credit card by focusing on its highest cashback categories - namely local and overseas dining including online food delivery with a cashback rate of 6%; and other fuel spend with a cashback rate of 5%, which is on top of the standard fuel savings at Caltex of up to 23%. Maximise the benefits of OCBC 365 credit card immediately upon approval by making full use of its automatic 2-year annual fee waiver of $192.60.

Who can apply?

Age Eligibility At least 21 years of age
Income Eligibility Singaporeans/PRs: $30,000 of annual income
Foreigners: $45,000 of annual income

Charges or fees you should be aware of

Annual Fees $192.60 (First 2 years waived)
Late Payment Charge $100
Interest on Purchases 26.88% per annum and will be compounded if the monthly interest charges are not repaid in full.
Interest on Cash Advance 28.92% per annum compounded daily on the amount withdrawn from the transaction date until the date that full payment is made.

How to apply?

Click on the “Apply Now” button and complete the application form on SingSaver site.

Here is what you will need during the application process:
  • Front and back of NRIC/Passport/Employment Pass
  • For salaried employees,
    • Past 12 months CPF statement (if Singaporean/PR); OR
    • Latest Income Tax Notice of Assessment and latest original computerised payslip
  • For self-employed,
    • Latest Income Tax Notice of Assessment and latest original computerised payslip

Similar cards to consider

Daunted by the minimum spend or looking to compare it with another cash back card?

No minimum spend cashback card: Standard Chartered Unlimited Credit Card
Shopping Credit Card: UOB YOLO Card
Dining Credit Card: OCBC FRANK Credit Card

Looking for other credit cards? Check out the Best Credit Cards in Singapore 2020.