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OCBC 365 credit card review: All-round cashback card

23 Jan 2024

The OCBC 365 credit card offers cashback of 3% to 6% across your everyday spend. Learn more about the benefits, eligibility requirements and promotions for the OCBC 365 credit card.

ocbc 365 credit card review

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What happened?

Earlier, we shared that the OCBC 360 account offers one of the highest effective interest rates amongst savings accounts in Singapore.

This led many to ask which is the best OCBC credit card to enjoy benefits with the OCBC 360 account.

So we decided to start with a review of the OCBC 365 credit card to understand the benefits and eligibility requirements of the card.

We will also find out if there any sign-up promotions when you apply for the OCBC 360 credit card.

Read on to find out more about the OCBC 365 credit card and how you can make the most of it.

ocbc 365 credit card review

What is the OCBC 365 credit card?

The OCBC 365 credit card is a credit card by OCBC bank which offers 3-6% cashback benefits across various categories.

This will allow you to save on daily expenses such as dining, petrol and groceries.

ocbc 365 credit card benefits eligibility annual fees.jpg

What are the benefits of the OCBC 365 credit card?

With the OCBC 365 credit card, you can enjoy cashback at all your favourite brands across diverse categories – from dining to petrol and more. This includes:

  • Dining Benefits: 5% cashback on everyday dining (includes local/overseas dining and online food delivery)
  • Groceries: 3% cashback on groceries at supermarkets (both local and overseas) and online groceries
  • Petrol Discounts: 6% cashback on fuel spend at all petrol service stations + up to 22.92% fuel savings at Caltex (including 18% instant discount for all fuel)
  • Land Transport: 3% cashback on private hire (Grab/Gojek) and taxi rides (both local and overseas) + 3% cashback on bus and train rides using SimplyGo
  • Pharmacy: 3% cashback on all purchases made at pharmacies like Guardian or Watsons
  • Electric Vehicle Charging: 3% cashback on purchases at electric vehicle charging stations  (e.g. SP Digital, Greenlots, CDG ENGIE and City Energy)
  • Utilities: 3% cashback on recurring telco and electricity bills
  • Streaming Services: 3% cashback on purchases on streaming services such as Netflix and Spotify

In order to enjoy these cashback benefits on the OCBC 365 credit card, you will need to spend a minimum of S$800, and your cashback will be capped at S$80. 

The cashback cap on the OCBC 365 credit card increases to S$160 when you spend at least S$1600.

ocbc 365 min spend
Source; OCBC

What are the annual fees of the OCBC 365 credit card?

The annual fees for the OCBC 365 credit card (principal card) is $196.20 (including GST), waived for the first 2 years.

The annual fees for the OCBC 365 credit card (supplementary card) is $98.10 (including GST) waived for the first 2 years.

Is it possible to get a fee waiver on the OCBC 365 credit card?

Yes, you can get an automatic annual service fee waiver if you spend at least S$10,000 in one year, starting from the month after your OCBC 365 credit card was issued.

What are the eligibility criteria of the OCBC 365 credit card?

To be eligible for the OCBC 365 credit card, you will need to be at least 21 years old. 

The annual income requirements for the OCBC 365 credit card are:

  • S$30,000 and above for Singaporeans and Singapore PRs
  • S$45,000 and above for foreigners

Comparing the OCBC 365 credit card with the OCBC Frank credit card

The OCBC Frank credit card is another credit card by OCBC Bank which offers cashback benefits for your spending. 

Comparing the OCBC 365 credit card to the OCBC Frank credit card:

  • The OCBC 365 credit card offers cashback for selected categories (dining, petrol etc.) while the OCBC Frank credit card offers cashback for all local online purchases/foreign online and in-store purchases/contactless mobile transactions regardless of category.
  • Both cards require a minimum spend of S$800. For spendings above S$800, the OCBC Frank credit card offers a higher cashback cap of S$100 compared to the OCBC 365 credit card (S$80). However, the OCBC 365 credit card offers a higher cashback cap of S$160 when you spend at least S$1600. 

Feature

OCBC 365 credit card

OCBC Frank credit card

Type of RewardsCashback benefits and discountsCashback benefits
Reward Categories
  • Daily necessities such as dining, groceries, petrol and more 
  • All local online purchases
  • Purchases made by contactless mobile transactions (Apple Pay, Samsung Pay, Google Pay, Fitbit Pay or Garmin Pay)
  • Foreign online and in-store purchases 
Dining Benefits
  • 5% cashback on everyday dining (including local, overseas and online food delivery)

 

  • 8% cashback a month on everyday dining
  • Transactions must be within the categories mentioned above
Petrol Benefits
  • 6% cashback on fuel spend at all petrol service stations locally and overseas
  • Up to 22.92% fuel savings at Caltex, up to 20.2% fuel savings at Esso.

 

  • No specific petrol-related benefits
Cashback Cap and Minimum Spend
  • Min. spending of S$800, cashback capped at S$80
  • Min. spending of S$1600, cashback capped at S$160
  • Flat 0.25% in cashback for spendings <S$800
  • Min. spending of S$800, cashback capped at S$100
  • Flat 0.3% in cashback for spendings <S$800

Comparing the OCBC 365 credit card with the OCBC Rewards credit card

Formerly known as the OCBC Titanium Rewards credit card, the OCBC Rewards card is another credit card by OCBC Bank which offers OCBC$ which can be redeemed for a range of rewards such as cash rebates and air miles. 

Comparing the OCBC 365 credit card to the OCBC Rewards credit card:

  • The OCBC 365 credit card mainly offers cashback rewards while the OCBC Rewards credit card mainly offers reward points (OCBC$) that can be exchanged for other benefits.
  • The OCBC Rewards credit card requires no minimum spend to earn OCBC$ and there is no limit to the base OCBC$ you can earn. On the other hand, the OCBC 365 credit card requires a minimum spend of S$800 and the cashback you can earn is capped at S$80 (or S$160 if you spend more than S$1600).

Feature

OCBC 365 credit card

OCBC Frank credit card

Type of Rewards
  • Cashback benefits and discounts
  • Offers OCBC$ (reward points) on spendings with this card
  • Additional 2% cash rebate at BEST Denki
Reward Categories
  • Daily necessities such as dining, groceries, petrol and more 
  • Earn 10x OCBC$ (4 miles) per S$1 spent on eligible online and retail purchases at Apple, Shopee, H&M and more
  • 1x OCBC$ on all other eligible purchases in categories such as clothing, sporting goods and more
Dining Benefits5% cashback on everyday dining (including local, overseas and online food delivery)No specific dining-related rewards
Petrol Benefits
  • 6% cashback on fuel spend at all petrol service stations locally and overseas
  • Up to 22.92% fuel savings at Caltex, up to 20.2% fuel savings at Esso.
  • No specific petrol-related rewards
Travel BenefitsNo specific travel-related rewardsOCBC$ can be exchanged for air miles and points
Cashback Cap and Minimum Spend
  • Min. spending of S$800, cashback capped at S$80
  • Min. spending of S$1600, cashback capped at S$160
  • Flat 0.25% in cashback for spendings <S$800
  • Min. spending of S$800, cashback capped at S$100
  • Flat 0.3% in cashback for spendings <S$800

Comparing the OCBC 365 credit card with the OCBC Infinity credit card

The OCBC Infinity Cashback card is another credit card by OCBC Bank which offers unlimited cashback on most categories of spending. 

Comparing the OCBC 365 credit card to the OCBC Infinity Cashback card:

  • The OCBC Infinity Cashback card offers a lower cashback (1.6%) on spendings regardless of category (except for selected merchant categories) while the OCBC 365 credit card offers a higher cashback (3-6%) on spendings for selected categories such as dining, groceries and utilities.
  • The OCBC Infinity Cashback card requires no minimum spend and no cashback cap. On the other hand, the OCBC 365 credit card requires a minimum spend of S$800 and the cashback you can earn is capped at S$80 (or S$160 if you spend more than S$1600).

Feature

OCBC 365 credit card

OCBC Infinity cashback card

Type of RewardsCashback benefits and discountsCashback rewards
Reward Categories
  • Daily necessities such as dining, groceries, petrol and more 
  • Cashback can be awarded on spendings regardless of category, except for selected merchant categories.

 

Dining Benefits5% cashback on everyday dining (including local, overseas and online food delivery)No specific dining-related rewards
Petrol Benefits
  • 6% cashback on fuel spend at all petrol service stations locally and overseas
  • Up to 22.92% fuel savings at Caltex, up to 20.2% fuel savings at Esso.
  • No specific petrol-related rewards
Cashback Cap and Minimum Spend
  • Min. spending of S$800, cashback capped at S$80
  • Min. spending of S$1600, cashback capped at S$160
  • Flat 0.25% in cashback for spendings <S$800
  • No min. spend, no cashback cap
  • Flat 1.6% in cashback for transactions made in store or online, locally or overseas.

Comparing the OCBC 365 credit card with the DBS LiveFresh card

The DBS LiveFresh card is an eco-friendly credit card by DBS bank which offers cardholders cashback rewards. 

Comparing the OCBC 365 credit card to the DBS LiveFresh card:

  • The DBS LiveFresh card offers an extra 5% Green Cashback for spendings on specific eco-eateries, eco-retailers and eco-transport services, which is unique to this card.
  • The DBS LiveFresh card requires a lower minimum spending of S$600 but the cashback is capped at S$75 for each calendar month, which is further split into different categories. On the other hand, the OCBC 365 credit card requires a higher minimum spending of S$800 but the cashback is capped at a higher amount of S$80 (or S$160 when you spend more than S$1600).

Feature

OCBC 365 credit card

DBS LiveFresh card

Type of RewardsCashback benefits and discountsCashback rewards
Reward Categories
  • Daily necessities such as dining, groceries, petrol and more 
  • Online spending
  • Visa contactless spending  
  • Sustainable spending on categories such as dining and retail
Dining Benefits5% cashback on everyday dining (including local, overseas and online food delivery)Additional 5% cashback on spendings at eligible eco-eateries
Petrol Benefits
  • 6% cashback on fuel spend at all petrol service stations locally and overseas
  • Up to 22.92% fuel savings at Caltex, up to 20.2% fuel savings at Esso.
  • No specific petrol-related benefits
Cashback Cap and Minimum Spend
  • Min. spending of S$800, cashback capped at S$80
  • Min. spending of S$1600, cashback capped at S$160
  • Flat 0.25% in cashback for spendings <S$800

Min. spending of S$600. Cashback capped at S$75 for each calendar month, which is further split into different categories:

  • Online spend S$20
  • Visa contactless payment S$20
  • Sustainable spend S$15
  • All other spend S$20

 Flat 0.3% cashback for spendings <S$600

Comparing the OCBC 365 credit card with the POSB EveryDay card

The POSB EveryDay credit card is a cash rebate credit card by POSB Bank which offers cash rebates in the form of POSB Daily$. 

Comparing the OCBC 365 credit card to the POSB EveryDay credit card:

  • The OCBC 365 credit card offers cashback rewards while the POSB EveryDay credit card offers cash rebate in the form of Daily$.
  • The POSB Everyday credit card offers a higher cash rebate of 10% for online food delivery while the OCBC 365 credit card offers a higher cashback of 5% for all other dining transactions.
  • While both cards require a minimum spending of S$800 and rewards are capped at S$80, the Daily$ rebate cap for POSB EveryDay credit card is further split into various categories. This implies that each category of spending has a maximum amount of cash rebate which is less than S$80.

Feature

OCBC 365 credit card

POSB EveryDay credit card

Type of RewardsCashback benefits and discountsPOSB Daily$ rebate rewards and discounts
Reward Categories
  • Daily necessities such as dining, groceries, petrol and more 
  • Daily necessities such as dining, online shopping, groceries and more
Dining Benefits
  • 5% cashback on everyday dining (including local, overseas and online food delivery)
  • 10% Cash Rebates on Online Food Delivery (foodpanda & Deliveroo)
  • 3% on all other dining transactions (including overseas dining and excluding fast food spend)
Petrol Benefits
  • 6% cashback on fuel spend at all petrol service stations locally and overseas
  • Up to 22.92% fuel savings at Caltex, up to 20.2% fuel savings at Esso.
  • 20.1% Fuel savings promotion for spendings at SPC
  • 2% cash rebates will be awarded for selected Speedycare outlets
Cashback Cap and Minimum Spend
  • Min. spending of S$800, cashback capped at S$80
  • Min. spending of S$1600, cashback capped at S$160
  • Flat 0.25% in cashback for spendings <S$800
  • Min. spending of S$800
  • No min. spend for selected merchants
  • Daily$ rebate capped at S$80, which is further split into various categories.
  • Flat 0.3% cash rebate for spendings <S$800

Comparing the OCBC 365 credit card with the UOB One credit card

The UOB One credit card is a credit card by UOB Bank which offers cashback rewards on spendings across various categories. 

Comparing the OCBC 365 credit card to the UOB One credit card:

  • The UOB One credit card offers quarterly cashback while the OCBC 365 credit card offers monthly cashback.
  • The UOB One credit card has a lower minimum spending requirement of S$500 compared to that of the OCBC 365 credit card (S$800). 
  • In terms of maximising each card’s rewards: You will need to spend at least S$2000 on the UOB One credit card in order to attain maximum additional cashback. You will need to spend at least S$1600 on the OCBC 365 credit card to increase the maximum cashback of up to to S$160.
  • The UOB One credit card offers a higher flat cashback rate of 3.3% per quarter on spendings below the minimum spend of S$500 while the OCBC 365 credit card offers a lower flat cashback rate of 0.25% per month on spendings below the minimum spend of S$800.

Feature

OCBC 365 credit card

UOB One credit card

Type of RewardsCashback benefits and discountsCashback rewards and discounts
Reward Categories
  • Daily necessities such as dining, groceries, petrol and more 
  • Daily necessities such as dining, petrol, groceries and more

 

Dining Benefits5% cashback on everyday dining (including local, overseas and online food delivery)Additional 5% cashback on spendings at McDonald’s and GrabFood
Petrol Benefits
  • 6% cashback on fuel spend at all petrol service stations locally and overseas
  • Up to 22.92% fuel savings at Caltex, up to 20.2% fuel savings at Esso.
  • Up to 21.15% fuel savings at Shell and 22.66% fuel savings at SPC 

 

Cashback Cap and Minimum Spend
  • Min. spending of S$800, cashback capped at S$80
  • Min. spending of S$1600, cashback capped at S$160
  • Flat 0.25% in cashback for spendings <S$800
  • Min. spending of S$500 or S$1000 (and min. 5 transactions) to receive additional 5% cashback
  • Min. spending of S$2000 (and min. 5 transactions) to receive additional 6.67% cashback 
  • Flat 3.33% quarterly cashback for spendings >S$500.

Are there any sign-up promotions for the OCBC 365 credit card?

ocbc credit card promotion jan 2024

What would Beansprout do?

The OCBC 365 is a comprehensive cash-back credit card, offering cashback of 3% to 6% across various spend categories.

This makes the OCBC 365 credit card ideal if you are looking at earning cashback on your everyday spend, including grocery shopping. 

More importantly, you will not be restricted by the spend category. 

However, to enjoy the attractive cashback, you will need to spend a minimum of S$800 per month on your OCBC 365 credit card, and your cashback will be capped at S$80.  

This makes the OCBC 365 credit card a decent entry-level cashback credit card, especially if you are pairing it with the OCBC 360 savings account.

If you are interested in applying for the OCBC 365 credit card, learn about the latest sign-up promotion here.

To find out other ongoing credit card promotions, check out the best credit card promotions here.

lightbulb
Score Apple iPad

Score an Apple iPad or S$300 Cash you sign up for the OCBC 365 Credit Card and spend S$500 within 30 days. T&Cs apply.

Sign up now

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