OCBC Plus! Visa Card

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OCBC Plus! Visa Card Review 2020

With the OCBC Plus! Visa Credit Card, cardmembers get to enjoy 7% rebate on FairPrice in-store, and 3% on FairPrice Online. Receive benefits of 3% at NTUC partner merchants - Unity and Warehouse Club. Plus! Visa Credit also offers competitive fuel savings at at least 20% for Caltex and Esso. It operates at a base 0.22% rebate rate on all VISA Spending. The LinkPoints accumulated can be used to redeem rewards or used to offset transaction amount at selected partner stores. To reap the rebates, you need at least a minimum spend of S$500 per month, outside of FairPrice.

These are some highlights of the OCBC Plus! Visa Card and the cashback benefits offered.

Key Benefits of OCBC Plus! Visa Card

Eligibility for OCBC Plus! Visa Card

To be eligible for the OCBC 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

Fees and Charges for OCBC Plus! Visa Card

• Annual Principle Fee: $107 per annum (First year waived)
• Annual Supplementary Card fee: Free (Up to 3 supplementary cards)
• Fee waiver: Available (provided that you hit the minimum spending of at least S$2,500 in 1 year, starting from the month in which the card is issued)
• Interest-Free Period: 23 days
• Annual Interest Rate: 26.76%
• 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

OCBC Plus! Visa Card Review 2020: How does OCBC Plus! Compare

Pros:

• With the 7% LinkPoints rebate, it is great for shopping at NTUC Fairprice for Groceries
• Additionally, you also get 3% LinkPoint rebates for drug stores essentials at Unity
• Good 20% fuel savings for patrons of Esso and Caltex
• Does not require an NTUC Union Membership (the annual fee for Plus! is also cheaper than that of the NTUC Union Membership and the OCBC NTUC Plus! Card)

Cons:

• LinkPoints will expire if you do not remember to redeem them
• Minimum monthly spend of S$500 anywhere outside of FairPrice
• Not suitable if you are not a loyal customer of FairPrice, or simply do your grocery shopping at any other markets or supermarkets.

Still unsure? Find out everything you need about credit cards - including what the best credit cards in Singapore are for miles and cashback, factors to consider before getting one, fees to know, and why a good credit score matters.

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How to Apply for OCBC 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.