How do I know I have fully utilized the ocbc 365 credit card for cashback? Any tip or hack to save while earning the $80 cashback rebate? ? - Seedly
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Anonymous

Asked on 20 Jun 2019

How do I know I have fully utilized the ocbc 365 credit card for cashback? Any tip or hack to save while earning the $80 cashback rebate? ?

Just curious as my cash rebate for ocbc 365 didn't hit the $80 mark. In which I have every month spend $800 on the individual category that ocbc has indicated.

Cash Rebate:

May - $18.25

April - $9.87

March - $1.62

Seeing this figure should i consider changing a lower tier credit card to hit my OCBC 360 criteria?

And notice ocbc has credited 0.3% on credit card spending to my OCBC 360 account so should I consider this amount into the $80 cash back?

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Glenn Toh
Glenn Toh, Founder at Whatcard.sg
Level 4. Prodigy
Updated on 23 Jun 2019

First, if you are only spending $800/month on the OCBC365 card it is not possible at all to hit the cashback cap of $80 (which is a 10% cashback) since the OCBC365 rebate categories only give 3-6% cashback. You should think of the $80 as the upper limit on what OCBC will give, which is really only relevant if you spend much more than 800/month on the card.

Based on what you shared and assuming you spend ~800/month each month, for May you achieved 18.25/800 = 2.3% overall cashback, which I would say is good enough to keep using the card. However what you got in April and March is very poor and if those are typical months you may want to consider other OCBC cards such as the OCBC Titanium Rewards or FRANK credit card that do not have minimum spending requirements. Finally, the 0.3% bonus interest rate on OCBC360 account is not considered partof the $80 cashback.

One tip I could share to help maximise your cash rebate is to do a quick search on https://www.whatcard.sg/ to see if you get bonus cashback on OCBC365 card before spending. Full disclosure: I am part of the team that developed WhatCard to help ourselves figure out how to best maximise credit card rewards.

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Question Poster

23 Jun 2019

Thanks Glenn for your WhatCard website provided by you. It's really help a lot. But one thing which I think it could be better for the website is to go accordingly to individual credit card. Rather than searching specific category and show which credit card applicable.
Glenn Toh
Glenn Toh

23 Jun 2019

Thanks for sharing the feedback! Thats is a great idea, we are actually currently in the process of trying to create some filter for credit cards so that people can see only the cards that are relevant for them (rather than the full list of many irrelevant cards). Would encourage you to share any other feedback/ideas you have on our forum to make it easier for us to keep track of it as well :)