How does the OCBC Cashflo Credit card work?

There are a ton of credit cards that offer 0% interest instalment plans, but OCBC Cashflo Card is the only one that allows you to nett earn on purchases made on the plan, rather than actually losing money.

To break things down, just because you're not paying interest doesn't mean you won't incur a fee. Most cards with 0% instal plans (1) charge processing fees equal to 3–5% of the total transaction amount and (2) do not allow you to earn cashback on plan purchases. This means you'll ultimately end up paying out-of-pocket for the service. It's worth mentioning that CIMB & a few others do reward such purchases, but the processing fees more than wipe out any potential gains; DBS & a few others waive transaction fees but do not offer rewards, leaving you nett neutral.

OCBC Cashflo, on the other hand, does not charge a processing fee and allows you to earn up to 1% cashback on purchases made on the instalment plan. This means you'll end up with a nett plus, at the end of the day.

In terms of how OCBC Cashflo's instalment plan works, cardholders set a "trigger" amount, and any purchases made on the credit card that surpass that trigger are automatically split into instalments across 3 months (for purchases S$100-S$999) or 6 months (S$1000+). You don't need to call ahead, apply, or bother with specific merchant requirements. This also makes it quite easy to take advantage of the plan.

That being said, OCBC Cashflo's value is definitely derived from this feature. Its general rebate rates (0.5%–1%) are very low, and there are very few additional perks. There's also a S$160.5 annual fee, but you can avoid it by spending S$10k on your card within the year.

If you're interested in the details, here's a link to my review below. Hope this helps!

OCBC Cashflo Detailed Revew: https://www.valuechampion.sg/ocbc-cashflo-credi...​​​

This card can help you with big purchases where you can pay by instalments. Unlike its competitors (UOB SmartPay, DBS My Preferred Paymennt Plan*), OCBC does not have processing fee. The rewards for this card is rather low.
Personally, I dislike this card, especially for people who have do not own a credit card before, as it encourages you to spend above your means. If not properly managed, your initial purchase can snowball into a mountain of debt. ​​​