Is the OCBC 365 Credit Card the Most Comprehensive Cashback Card?—MoneySmart Review (2026)

When people talk about comprehensive cashback cards in Singapore, the OCBC 365 Credit Card comes to my mind as a contender. Few cashback cards cover as many everyday spending categories in a single card: dining, groceries, petrol, transport, streaming, recurring bills, Watsons, and even advertising platforms. If breadth of coverage is what you're after, this card makes a strong case for itself.

The minimum spend of $800 a month unlocks the core cashback benefits, and if you can push that to $1,600, you double the cashback cap to $160 a month. That's a clean $1,920 a year back in your pocket, automatically credited to your card statement the following month. No redemption portals, no points to track—just cashback that shows up on its own.

That said, comprehensive doesn't mean perfect. There are some important exclusions buried in the fine print (most fast food chains coded under MCC 5814 earn only 0.25%—unless you're ordering via Foodpanda, GrabFood, or Deliveroo; hotel dining, EZ-Link top-ups, and bill payments via AXS or internet banking are other ones to watch) that can catch you off guard. So is it really the most comprehensive cashback card out there? Read on—we'll give you our honest verdict.

OCBC 365 Credit Card review—is it MoneySmart?
Overall: ★★★★☆ (3.8/5)  Best for: Families and individuals who spend consistently on dining, petrol, groceries, and recurring bills and want automatic cashback on everyday essentials. The catch: You need to spend at least $800 a month to unlock bonus cashback rates, and there are category exclusions like most fast food outlets coded under MCC 5814 (unless ordered via Foodpanda, GrabFood, or Deliveroo) and EZ-Link top-ups.
Pros—what we like		Cons—what we don't like
6% cashback on petrol at all service stations locally and overseas 5% cashback on dining (including food delivery via Deliveroo, Foodpanda, and GrabFood) 3% cashback on groceries, land transport, recurring telco and electricity bills, streaming services, EV charging, and Watsons Cashback is automatic—no redemption required 2-year annual fee waiver, then waived with $10,000 annual spend Works at all petrol stations, not just selected ones		Minimum spend of $800/month required to unlock bonus rates Fast food outlets coded under MCC 5814 earn only 0.25% base cashback, not 5% Hotel dining and wedding banquets excluded from 5% dining cashback EZ-Link and Transit Link top-ups excluded from 3% land transport cashback Bill payments made via internet banking, AXS, or SAM network do not earn cashback Watsons purchases on online marketplaces like Lazada, Shopee, or Amazon do not qualify for 3% cashback—you must visit Watsons Online or a physical store  High interest rate of 27.78% if you carry a balance
Key facts at a glance
Category	Our rating	The deets
Earn rates: cashback	★★★★☆	6% on petrol 5% on dining and food delivery 3% on groceries, land transport, recurring telco and electricity bills, streaming, EV charging, and Watsons 0.25% on everything else (base rate, no minimum spend needed) Cashback capped at $80/month (minimum spend $800) or $160/month (minimum spend $1,600)
Earn categories	★★★★☆	Petrol, dining (local, overseas, food delivery), groceries (local, overseas, online), land transport (SimplyGo, Grab, Gojek, TADA, ComfortDelGro), recurring telco bills (StarHub, Singtel, M1, MyRepublic, CirclesLife), recurring electricity bills (Geneco, Keppel Electric, Sembcorp Power, Senoko Energy, Singapore Power), streaming (Netflix, Disney+, Spotify, Apple Music), EV charging (SP Digital, Greenlots, CDG ENGIE, City Energy), Watsons (in-store and online)
Annual fees and charges	★★★★☆	$196.20/year principal card (2-year waiver; subsequent years waived with $10,000 annual spend  $98.10/year supplementary card
Accessibility	★★★★☆	Minimum age: 21 Minimum annual income: Singaporeans/PRs aged 21–54: $30,000 Singaporeans/PRs aged 55 and above: $15,000 Foreigners: $45,000
Extras/periphery rewards	★★★☆☆	Exclusive access to OCBC WowDeals App for cardholder-only deals and promotions Up to 22.92% fuel savings at Caltex, up to 21.04% at Esso, up to 27.6% at Sinopec Bukit Timah, up to 24.8% at Sinopec Yishun and Woodlands
Sign-up bonus	★★★★★	MoneySmart exclusive (valid 1–30 June 2026): $250 cash via PayNow (new-to-card applicants only) Apply through MoneySmart and charge at least $400 within 30 days of card approval. T&Cs apply.

See our credit card ranking rubric to find out how we rank credit cards.

1. OCBC 365 Credit Card—summary

The OCBC 365 Credit Card is a cashback card designed for everyday life. Rather than rewarding a single category, it covers a wide range of things most Singaporeans already spend on: dining out, grabbing groceries, filling up the car, hopping on a Grab, paying recurring bills, and streaming your favourite shows.

Here's the core structure at a glance:

If you don't hit the $800 minimum in a given month, you'll still earn the base rate of 0.25% cashback on all your card transactions.

One of the nicest things about this card is how cashback works: it's fully automatic. Cashback earned on your transactions in the current month is credited directly to your OCBC 365 card statement the following month. No points to redeem, no portals to navigate, no expiry dates to stress about—it just appears on your statement.

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2. How the OCBC 365 Credit Card works

The OCBC 365 Credit Card earns you cashback—a straightforward percentage of your spending returned to you as a credit on your card statement.

There are 2 tiers of cashback. The base rate of 0.25% applies to all card transactions at all times, regardless of whether you hit the minimum spend. Once you clear $800 in qualifying spend in a calendar month, the bonus cashback rates kick in across the card's eligible categories (more on those in the next section).

Cashback earned by both the principal and supplementary cardholders is pooled together and credited to the principal cardholder's account. So if you've added a family member on a supplementary card, their spending counts towards both the minimum spend threshold and the cashback cap.

The maximum cashback the account can earn in any calendar month is $160—achieved by spending at least $1,600 in qualifying transactions.

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3. What counts as eligible spend?

This is probably the most important section to read carefully, because the OCBC 365 Card has a solid list of bonus categories—but also some exclusions that aren't immediately obvious.

Cashback categories

A bonus for freelancers and small business owners

If you run your own business or freelance and regularly advertise on platforms like Facebook, Meta, PropertyGuru, 99.co, EdgeProp, or StreetSine, there's an extra perk here that most consumer cards don't offer. The OCBC 365 Card earns 1% cashback on advertising spend at these platforms when you pay in full, or 0.5% per instalment if you pay in instalments. There's no minimum spend required and no cap on how much you can earn from this category—so the more you spend on ads, the more you get back. It won't move the needle for casual users, but it's a genuinely useful benefit if digital advertising is a regular business expense.

Key exclusions to know

A few things worth flagging before you whip out the card:

Fast food restaurants (MCC 5814): Transactions coded under MCC 5814 generally earn only 0.25% base cashback—not the 5% dining rate. The one exception is Foodpanda, GrabFood, and Deliveroo: orders from these platforms earn 5% even when processed under MCC 5814. So your favourite hawker centre sit-down meal likely qualifies at 5%, a McDonald's drive-through likely doesn't—but ordering the same McDonald's meal via Deliveroo would.

Hotel dining and wedding banquets: These fall under dining MCCs but are explicitly excluded from the 5% cashback rate. You'll earn the base 0.25% instead.

EZ-Link and Transit Link top-ups: These do not qualify for the 3% land transport cashback. Only Account-Based Ticketing and contactless fare payments (tap your card or phone directly at the gantry) qualify.

Bill payments via AXS, internet banking, or SAM: Recurring bills must be charged directly to your OCBC 365 Card to earn cashback. If you pay through AXS stations, the OCBC internet banking portal, or SAM machines, you will not earn any cashback.

Watsons on third-party marketplaces: Buying Watsons products on Lazada, Shopee, or Amazon does not qualify for the 3% Watsons cashback. You'll need to shop directly on Watsons Online or in-store.

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ALSO READ: Pandapro vs GrabUnlimited—Only 2 Players, Which is More Worth it Now?

4. Fees, charges, and card eligibility

Card fees and charges

Card eligibility

Minimum age: 21 years old

For Singapore citizens and PRs:

• Aged 21–54: minimum annual income of $30,000
• Aged 55 and above: minimum annual income of $15,000
• Alternatively, a fixed deposit collateral of at least $10,000

For foreigners:

• Minimum annual income of $45,000 with a valid Singapore Employment Pass

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ALSO READ: How to Get Credit Card Annual Fee Waivers and Still Enjoy Rewards and Perks (Updated 2025 Guide)

5. Cashback calculation

Knowing the earn rates is one thing, but seeing them work in practice is another. Here's a worked example based on a typical month of spending, using the $800 minimum spend tier.

In this example, the cardholder clears the $800 minimum spend and earns roughly $24 in cashback for the month. Push your qualifying spend to $1,600 and the cap doubles—you could earn up to $160 a month, or $1,920 a year.

And as mentioned earlier, cashback is credited automatically to your OCBC 365 card statement the following month. That means no redemption steps needed, and no points system to figure out.

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6. Is the OCBC 365 Credit Card worth it?

Pros of the OCBC 365 Credit Card

Broad cashback coverage across everyday categories. The card covers dining, groceries, petrol, transport, recurring bills, streaming, EV charging, and Watsons—essentially most of what a typical Singaporean household spends on. You don't need to think about which card to use for what.

Strong petrol savings. The 6% cashback on fuel at all petrol stations combines with station-level discounts for impressive total savings—up to 22.92% at Caltex, 21.04% at Esso, 27.6% at Sinopec Bukit Timah, and 24.8% at Sinopec Yishun and Woodlands.

Automatic cashback with no expiry. Cashback is credited directly to your card statement the following month. There's nothing to redeem, no portal to log into, and no points that expire.

Sensible annual fee structure. The 2-year fee waiver gives you time to test the card with no financial commitment. After that, the fee is waived as long as you spend $10,000 a year—a target easily met if this is your primary daily spending card.

Cons of the OCBC 365 Credit Card

The $800 minimum spend is non-negotiable. If you don't hit $800 in qualifying transactions in a given month, all your spend drops to the 0.25% base rate. For lighter spenders or those with irregular months, this can be a frustrating cliff edge.

Fast food exclusions can catch you out. The 5% dining cashback doesn't apply to outlets coded under MCC 5814 (fast food restaurants)—a category that includes many quick-service chains. You'll want to check before assuming your favourite food court stall or fast food chain qualifies.

Bill payment method matters. Recurring bills only earn cashback when charged directly to the card. Paying via AXS, internet banking, or SAM networks earns nothing—which can be an easy mistake to make.

High interest rate. At 27.78% per annum, like most credit cards in Singapore, this card is best suited for those who pay their balance in full each month.

Checklist: is the OCBC 365 Credit Card for you?

• Do you spend at least $800 a month on everyday categories like dining, groceries, and petrol?
• Do you drive regularly and fill up at petrol stations in Singapore or overseas?
• Are your recurring bills (telco, electricity) charged directly to your credit card?
• Do you want cashback that's automatic—no points, no redemption, just a credit on your statement?
• Are you comfortable checking that your dining and transport spending qualifies under the right MCCs?

If you ticked most of these, the OCBC 365 Credit Card is likely a strong fit for your lifestyle.

So, is it the most comprehensive cashback card in Singapore?

For everyday consumer spending, it's hard to argue against it. The OCBC 365 Card covers more ground than almost any other cashback card on the market—and it does so with automatic cashback, a reasonable annual fee structure, and genuinely strong rates on categories most Singaporeans spend on daily. Where it falls short is in its exclusions and the $800 minimum spend gate, which mean it rewards consistent, informed spenders more than casual ones. If that sounds like you, it earns its place as one of the most well-rounded cashback cards around.

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ALSO READ: 8 Essential Tips for Comparing Credit Cards I Wish I Knew Earlier

7. OCBC 365 Credit Card promotion

Applying through MoneySmart right now? Here's what's on offer:

MoneySmart exclusive (valid 1–30 June 2026):

• Receive $250 cash via PayNow
• Available to new-to-card holders only
• Apply through MoneySmart and charge at least $400 in qualifying transactions within 30 days of card approval
• Submit your claim within 4 weeks of receiving your Unique Redemption Code from OCBC via SMS (sent within 4 calendar months of meeting the minimum spend)

T&Cs apply. View the latest OCBC 365 Credit Card promo for full details.

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8. Alternatives to consider

Not quite the right fit? Here are 3 alternatives depending on what matters most to you.

HSBC Live+ Credit Card

If you want strong cashback on dining and entertainment without needing to worry about petrol, the HSBC Live+ Credit Card is one to consider. It earns 8% cashback on dining, entertainment, and online food delivery, plus 5% on fuel at Caltex and Shell—though the bonus cashback categories are narrower than the OCBC 365's spread. There's a $600 minimum monthly spend required, and cashback is capped per category.

Citi Cash Back+ Card

Prefer something genuinely fuss-free? The Citi Cash Back+ Card earns 1.6% cashback on all eligible spend with no minimum monthly spend requirement and no cashback cap. The rate is lower, but the simplicity is hard to beat—especially if your spending is spread across many categories or varies significantly month to month.

UOB One Card

If you're a heavy spender with a family to feed, the UOB One Card offers up to 10% cashback on groceries at Cold Storage and Giant, alongside cashback on dining, transport, and more. The catch: you'll need to hit $2,000 a month in minimum spend and make at least 5 card transactions per month. But if you regularly exceed that, the returns are excellent.

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P.S. Here's our MoneySmart credit card ranking rubric

In case you're wondering, here's how we decide on our credit card rankings.

Check out our ultimate list of credit card reviews for the low-down on credit cards in Singapore.

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