[Updates on 2th May 2020]
Since the benefits has reduced since 2019, it is no longer beneficial for most except those choose to save with the bank's high interest savings account which needs to spend min $500 on their card. Otherwise it is a no go for this card as other card might provide better benefits.
Been using this card for the past 8 months plus and in the past their other services. BOC is still NKOTB, so kinda in the past not really good in their offers until recent 1 to 2 years. Still my main card due to :
- One of the highest for dining + Movie at 10% but capped at $30 per billing cycle
- Telco/supermarket/hospital bill /netflashpay[first 4 auto top up with fees at $0.50 each auto top up]/best denki, Bigbox, Toys r us , Unity, Watson, all shared at 5% BUT Cap at $40! (So max spend is $800)
- Online spend at 5% but cap at $30 (max spend $600)
- Good to consolidate all your household charges/ spending to get the max cash back out of it!
- They changed the min spend from $500 to $700, effective 24th April 2018! TOO MUCH!
- Need to call up CSO to find out your billing period and it is based on book-keeping date (posting date), and different CSO actually gave me different date! Furious!
- With everyone posting date different, and transaction may post 2 to 3 days after transaction date(depends on merchant), you need to buffer:
(a) 2 day before the starting of the posting date and
(b) 3 days before end of posting date
=> to ensure your transaction safely fall into the cash back period for yourself
eg. If your posting date is: 17th Mar to 16th Apr, you need to spend on 15th Mar to 13th Apr to ensure it safely falls into your billing period to fulfill the $700 min spend and then ensure each cash back category doesn't get over the max cashback cap of each category.
- Probably they realize they are paying too much cash back due to many pro user using their card! haha.. so they started consolidating spending category and limit the cash back. sigh...
- Worst Internet banking and apps ever, confusing bill, troublesome to login, LONGEST 2FA code in the world!!! Very hard to calculate the cash back transactions validity.
Overall, still the only good cashback cash in the market than the rest with easier spending to meet.