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

BOC sheng shiong card

Joanne Poh

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We all know cooking at home instead of eating out is the best way to save money and stave off diabetes at the same time.

But for truly hardcore savers, grocery shopping at Cold Storage or NTUC FairPrice doesn’t cut it. Nope, Sheng Siong is the place to be.

If you are a regular with the supermarket, you should definitely get the Bank of China (BOC) Sheng Siong credit card, because it lets you save even more with a whopping 7% to 12% cash rebate at what is already Singapore’s cheapest supermarket chain.

 

BOC Sheng Shiong Card terms & conditions

BOC Sheng Shiong Credit Card
Annual fee & waiver $30 p.a. 
Supplementary annual fee $15 p.a. 
Interest free period 23 days
Annual interest rate 28.88%
Late payment fee 5% per month of the minimum payment sum, subject to a minimum of $100 per month
Minimum monthly repayment 3% or $50, whichever is higher
Foreign currency transaction fee 1.5% of transaction amount
Cash advance transaction fee $20 or 6% of amount withdrawn
Overlimit fee
Minimum income $30,000 
Card association Bank of China
Wireless payment N/A

Overview of BOC Sheng Shiong Card benefits

The BOC Sheng Shiong Card is the best card if you are a regular at Sheng Shiong Supermarket. You can enjoy 7% cash back on Sheng Shiong spending with no minimum spending, capped at $70 a month.

If you meet the minimum spending requirement of $400 a month outside of Sheng Shiong, you also get an additional 5% cash back, capped at $20 a month.

Plus, these benefits come relatively cheaply, as the annual fee of the BOC Sheng Shiong Card costs only $30 per year and you enjoy first-year annual fee waiver.

 

Other benefits of the BOC Sheng Shiong Card

  • 5% rebate on Grab, Uber and taxi rides with $400 retail spending a month (capped at $20 per month)
  • 1% cash rebate on overseas spending, with no minimum spending requirement and no cap on cash rebates earned
  • Base cashback rate of 0.3% on all other purchases

 

Is the BOC Sheng Shiong Card annual fee worth it?

No matter how much or how little you spend on the card, you are guaranteed at least 7% cash rebates whenever you shop at Sheng Siong. This is very attractive compared to most of the cards which offer cash back for groceries.

In order to qualify for the maximum of 12% rebates at Sheng Siong, the minimum spending requirement is $400 spent outside of Sheng Siong.

This is where things can get problematic for some, as other than shopping at Sheng Siong you are only rewarded for Grab/Uber/taxis and overseas spending.

Another drawback is that when you shop at other supermarkets you will qualify only for the base cashback rate of 0.3% if you use this card.

Still, for Sheng Siong shoppers, even the minimum 7% cashback of the BOC Sheng Shiong Card is attractive enough to justify signing up for this card. The low annual fee of $30 makes it all the more worth it.

 

Who should use the BOC Sheng Siong Card?

Ultimately, your decision will hinge on whether you primarily shop at Sheng Siong, or also rely on other supermarkets. While the 7% to 12% cashback is very attractive, it is only valid at Sheng Siong.

So maybe you don’t want to have to buy every damn thing at Sheng Siong, or just want to see if you can get an even better cashback rate with another card.

Here’s how other cards stack up against the BOC Sheng Siong Card.

  • Citi Cash Back Card – A very generous 8% on groceries, dining, grab rides and petrol if you can spend at least $888 a month. There’s a cap of $25 cashback in each of these four categories each month. This is a good alternative if you often shop at supermarkets other than Sheng Siong or get groceries delivered.
  • Citibank SMRT Card – The maximum cashback you can get on groceries is 5%. You get a base cashback of 2.7% + an additional 2% if your bill is over $50 + 0.3% if you spend at least $300 a month on the card. The grocery offer is valid not just for Sheng Siong but also FairPrice and Giant.
  • Maybank Family & Friends Card – Get 8% cash rebates on groceries, bus/train/taxi rides, petrol and a selection of other merchants when you spend $1,000 in a month. If you only spend $500 in a month, you get 5% rebates on all of the above.
  • POSB Everyday Card – This card gets you 5% cashback when you shop at Sheng Siong. Rebates capped at $50 a month. This pales in comparison to what the BOC Sheng Siong Card is offering.

Ultimately, your decision will hinge on whether you primarily shop at Sheng Siong, or also rely on other supermarkets. While the 7% to 12% cashback is very attractive, it is only valid at Sheng Siong.

Do you own the BOC Sheng Shiong Card? Tell us why or why not in the comments!

 

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Joanne Poh

In my previous life, I was a property lawyer who spent most of my time struggling to get out of bed or stuck in peak hour traffic. These days, as a freelance commercial writer, I work in bed, on the beach, in parks and at cafes, all while being really frugal. I like helping other people save money so they can stop living lives they don't like.