OCBC NTUC Plus! Visa Credit Card

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Key Features and Benefits of OCBC NTUC Plus! Visa Credit Card

As its name suggests, the NTUC Plus! Visa Credit Card provides great rewards of up to 12.0% off for shopping at Fairprice (and its partner merchants like Unity and Warehouse Club). For online shoppers, receive up to 8.0% rebates off online Fairprice purchases. Other daily necessities like petrol and telco bills receive up to 20.3% off and 1.0% LinkPoint rebate respectively. However, there are additional conditions that need to be met before one can maximise earning the rebates of purchases from Fairprice and its partner merchants (explained in the next section). There is also a minimum spend of S$400 VISA transactions outside of FairPrice necessary to qualify for additional the high cashback rates advertised.

These are some highlights of the OCBC NTUC Plus! Visa Credit Card and the cashback benefits to offer:

Cash Back Break Down for OCBC NTUC Plus!

For 12.0% off in-store purchases at Fairprice, Unity and Warehouse Club Stores

• LinkPoints rebate awarded at point of transaction - 1.33%
• Bonus LinkPoints rebate from OCBC - 5.67% (awarded at last day of the following month of the transaction)
• Bonus LinkPoint rebate for crediting salary into the NTUC-OCBC Starter Account - 1.00%
• FairPrice annual cash rebate (for shareholder members, with at least S$6,000 of annual spend in FairPrice - 4.00%

For 8.0% off on monthly online purchases made at FairPrice

• Rebate in LinkPoints - 3.00% (awarded within 60 days of transaction)
• Bonus LinkPoint rebate for crediting salary into the NTUC-OCBC Starter Account - 1.00%
• FairPrice annual cash rebate (for shareholder members, with at least S$6,000 of annual spend in FairPrice - 4.00%

Eligibility for OCBC NTUC Plus! Visa Credit Card

To be eligible for the OCBC NTUC Plus! Visa Card, you'll have to meet the following criteria:

• Be at least 21 years old
• For Singaporeans and PRs: Minimum annual income of $30,000
• For foreigners: Minimum annual income of $45,000
• You must be a NTUC Union member to be eligible for NTUC Plus! Visa Credit Card

Fees and Charges for OCBC NTUC Plus! Visa Credit Card

• Annual Principle Fee: Free (Prevailing NTUC Membership fee applies)
• Annual Supplementary Card fee: Free (Up to 3 supplementary cards)
• Fee waiver: Available (provided that you hit the minimum spending of at least S$1,200 in 1 year, starting from the month in which the card is issued)
• Interest-Free Period: 23 days
• Annual Interest Rate: 26.88%
• Minimum monthly payment: 3% or $50, whichever is higher
• Late payment charge: $100
• Cash advance fee: 6% or $15, whichever is higher
• Administration Fee: S$150 to accelerate payment of automatic instalments
• Extension of instalment term: 3% of outstanding amount applies for 3- and 6-month term extension, and 5% of outstanding amount applies for 12-month term extension

The Best Cash Back Credit Cards Review 2020: How does OCBC NTUC Plus! Visa Compare?

Pros

• Excellent for patrons of NTUC Fairprice, offering at least 7.00% rebates on groceries, and can go as high as 12.00% if you meet the other criteria
• Pretty decent petrol cashback rates as well
• Suitable for everyday essentials as it covers the bases of groceries, petrol, stationery and pharmacy needs.

Cons

• Pre-requisite of being an NTUC Union member to be eligible for the NTUC Plus! Visa Credit Card
• The tiered 12% rebate is not achievable for everyone as it requires additional salary crediting and the requirement of the cardmember to be a FairPrice shareholder.
• Apart from the groceries and patrol category, other areas of spending do not have competitive cashback rates.
• Not suitable for other non-essential genres of spending
• Overall, if you are neither going to credit your salary into the Plus! Savings account nor have a stake in FairPrice, you might just be better off getting other cashback cards for groceries, like the OCBC Plus! Credit Card, instead of this OCBC NTUC Plus! Card. Also, if you are not regular patrons of NTUC FairPrice, then it would be better for you to consider other cashback cards for Groceries.
  
  

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How to Apply for OCBC NTUC Plus! Visa Credit Card

• Apply Online (option to apply via MyInfo available) or
• Visit OCBC Branches

About OCBC

The Overseas-Chinese Banking Corporation, Limited - or OCBC Bank - is headquartered in Singapore. Its inception in 1932 was the result of a merger of three local banks. As the second-largest bank in Southeast Asia, the multinational banking and financial services has assets of close to $468 billion. It has an Aa1 rating from Moody's, and an AA-rating from Standard & Poor's.

At present, the bank has over 570 branches across 18 countries and regions. Its services range from commercial banking and specialist financial and wealth management to asset management, stockbroking, insurance and treasury services.