Credit Cards

BOC Credit Cards in Singapore – Credit Card Reviews

boc credit cards

Bank of China or BOC is one of the newer banks offering credit cards in Singapore. But BOC credit cards have quickly gained a reputation as some of the most generous in terms of perks and cashback.

It’s clear that BOC have been looking closely at the competition and making sure they can match or exceed the benefits offered by rival credit card issuers. Looks like “made in China” has taken on a new connotation!

Let’s take a look at some of BOC’s most popular credit cards.

 

Best BOC credit cards in Singapore 2019

BOC credit card Key benefits
BOC Qoo10 Mastercard 10% cashback on Qoo10 transactions, 20% cashback on public transport, 5% cashback on taxi/Grab, local dining, online and overseas shopping
BOC Elite Miles Mastercard $1 = 1.5 miles on local spending, $1 = 3 miles on overseas spending
BOC Zaobao Credit Card 10% cashback on Zaobao and SPH newspaper subscriptions, up to 30.7% savings at Caltex, Shell, Sinopec and SPC Stations, 10% cash back at Buzz, 5% cashback on spending in Mainland China, department stores and dining, 2x rewards points for every $1 spent overseas, 1x rewards points for every $1 spent locally. 5% cashback on online spend. 
BOC Family Card 10% cashback on local/overseas dining and cinemas, 5% cashback on BEST Denki, Popular Bookstore, Unity Pharmacy, Watsons and Welcia-BHG, 3% cashback on online purchases, supermarkets, telco bills and Grab/taxi
BOC Sheng Siong Card Up to 12% cashback at Sheng Siong, 5% cashback on taxi/Grab, 1% on overseas spending

 

BOC Qoo10 Mastercard – generous rebates, but only useful if you shop on Qoo10

If Qoo10 Mastercard is your go-to online shopping platform, this card can help you offset your next Qoo10 shopping spree, as its cash rebates are paid out in the form of Qmoney in your Qaccount.

The rebates are very generous, with the 20% rebate on public transport being pretty much unbeatable.

The minimum spending requirement is $600 in a calendar month, which is quite average compared to most other entry-level credit cards.

The biggest drawback is obviously that you are forced to receive your rebates in the form of Qmoney, and other than spending it on Qoo10, there is no other way to use them. This is going to be the deciding factor for most people considering this card.

Click here to read the full review of the BOC Qoo10 Mastercard.

Key features:

  • 10% cashback on Qoo10 transactions
  • 20% cashback on public transport transactions
  • 5% cashback on taxi/Grab, local dining, online and overseas shopping
  • Cashback cap of $80 ($40 is for Qoo10 transactions + $40 for all other transactions)
  • Minimum spend of $600
  • If at least $300 is spent in a calendar month, you receive 3% cashbasck on Qoo10 transactions only

Essential info:

  • Minimum income: $30,000
  • Annual fee: $203.30 (waived for first year)

 

BOC Elite Miles Mastercard – great mile earning rates

The BOC Elite Miles Mastercard gives you a good reason to consider ditching your current frequent flyer credit card thanks to its high miles conversion rate, with a base rate of a generous $1 = 1.5 miles on local spending.

The catch, though, is that you get slapped with a $30 transaction fee to convert your miles into Asia Miles or KrisFlyer miles, which is higher than the $25 or nothing that other cards charge.

Your rewards points are also only valid for one year an expire on 30 June each year, which means that if you don’t use the card a lot, you’ll have to choose between losing your points or paying $30 to convert them every year. This makes the card best for higher spenders.

Click here to read the full review of the BOC Elite Miles Mastercard on MoneySmart.

Key features:

  • $1 = 1.5 miles on local spending (excluding public transport, prepaid accounts like GrabPay, Singtel Dash, YouTrip and utilities)
  • $1 = 3 miles on overseas spending in SGD and online transactions with overseas payment gateways
  • 4 Plaza Premium airport lounge passes [Promo has ended]

Essential info:

  • Minimum income: $30,000
  • Annual fee: $203.30 (waived for first year)

 

BOC Zaobao Credit Card – generous cashback rates on dining, online shopping and department stores

Even if you are not actually able to decipher the Chinese characters in Zaobao, you can still benefit from the BOC Zaobao Credit Card.

The card offers extremely generous cash rebates at Caltex, Shell, Sinopec and SPC petrol stations and newspaper subscriptions. Frequent travellers to China also get 5% rebate when they spend there. Despite this being a rather motley crew of rebate categories, the rebate rates are high enough and the spending categories broad enough to make this card worth considering.

Note that cashback for online shopping has since been reduced to 5%.

The minimum spending requirement of $600 is quite normal for entry level credit cards, and the cash rebate cap per month is $60, which is also pretty much average for such cards.

Key features:

  • 10% cashback on Zaobao and SPH newspaper subscriptions
  • Up to 30.7% savings at Caltex, Shell, Sinopec and SPC Stations
  • 10% cashback at Buzz, department stores, online purchases and dining
  • 5% cashback on spending in Mainland China
  • Cashback capped at $60
  • 2x rewards points for every $1 spent overseas
  • 1x rewards points for every $1 spent locally

Essential info:

  • Minimum income: $30,000
  • Annual fee: $203.30 (waived for first two years)

 

BOC Family Card – great dining and cinema cashback

Credit cards targeted at families tend to offer generous cash rebates on everyday essentials, and the BOC Family Card is one of the most generous iterations available right now.

In fact, the top cash rebate tier is a whopping 10%, and offered on local and overseas dining as well as cinemas.

The main drawback is the minimum spending amount of $800 a month which, if you’re not spending on behalf of an entire family, is on the high side.

Click here to read the full review of the BOC Family Card on MoneySmart.

Key features:

  • 10% cashback on local/overseas dining and cinemas
  • 5% cashback on BEST Denki, Popular Bookstore, Unity Pharmacy, Watsons and Welcia-BHG
  • 3% cashback on online purchases, supermarkets, telco bills and Grab/taxi

Essential info:

  • Minimum income: $30,000
  • Annual fee: $203.30 (waived for first two years)

 

BOC Sheng Siong Card – for Sheng Siong shoppers

Just from the name of this card, you can tell it’s targeted at bargain hunters. And assuming you actually shop at Sheng Siong, the BOC Sheng Siong Card does deliver, with a crazy maximum 12% rebate (valid till 31 Jul 2019).

Their main non-Sheng Siong related benefit is 5% rebates on taxi/Grab if you manage to spend $400 in a month.

Obviously, those who are in a position to benefit most from this card are people who shop regularly at Sheng Siong, and take Grab/taxis a lot in order to hit the $400 non-Sheng Siong minimum spending requirement.

Key features:

  • 12% cashback at Sheng Siong (capped at $90)
  • 5% on taxi/Grab (capped at $20)
  • Minimum spending requirement of $400 on non-Sheng Siong transactions (for Sheng Siong cashback) or all transactions (for taxi/Grab cashback)
  • 7% cashback at Sheng Siong if minimum spending requirement is not met (capped at $70)
  • 1% on overseas spending with no minimum spending requirement

Essential info:

  • Minimum income: $30,000
  • Annual fee: $32.10 (waived for first year)

 

A note about UnionPay vs Visa/Mastercard credit cards

Some BOC credit cards support UnionPay, which is like the Chinese equivalent of Visa and Mastercard.

UnionPay is widely accepted in China, but may not be as commonly used by merchants as Visa and Mastercard in Singapore or elsewhere.

Before you sign up for a card, it’s therefore advisable to check if it is a Visa/MasterCard or UnionPay (eg. as in the case of the Zaobao Card) card. That being said, many of BOC’s cards (eg. Qoo10, Elite Miles, Family and ShengSiong cards) are Visa or Mastercard cards.

 

Other BOC credit cards

  • BOC Visa Infinite Card – waiver of 1.5% currency exchange fees
  • BOC F1RST Card – 0.5% cashback on total bill
  • BOC Travel Card – 30% off remittance fees to Mainland China
  • BOC Great Wall Platinum Card

Do you use BOC credit cards? Tell us why or why not in the comments!

 

Related articles

BOC Elite Miles Card – MoneySmart Review 2019

BOC Sheng Siong Card Review: Up to 12% Cashback at Sheng Siong

BOC Family Card – MoneySmart Review 2019

BOC Qoo10 Mastercard Review 2019 – Should Singaporeans Sign Up?

The Crazy World of Qoo10 Singapore Hacks – Coupons, Roulette Q & Other Cheapo Tips

Image credit: Dickson Phua via Flickr

Tags: ,

Personal finance tips delivered to your inbox!

Personal finance tips delivered to your inbox!

Receive news, subscriber-exclusive promotions and guides on how to become smarter with money.