OCBC has announced a series of updates to the terms and conditions of its three major points-earning cards: the OCBC 90N, OCBC Titanium Rewards and OCBC VOYAGE.

These take effect from 1 June 2020, and will affect the accumulation of miles and places where you can earn them. 

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Changes that affect all cards” data-reactid=”22″>Changes that affect all cards

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="1. Points will be earned in blocks of $5” data-reactid=”23″>1. Points will be earned in blocks of $5

From 1 June 2020, OCBC cards will earn points in blocks of $5, instead of the current $1. What does that mean and why does it matter?

Let’s take the OCBC 90N Card, for instance. Here’s how the earn rates change before and after June 1. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apply Now” data-reactid=”33″>Apply Now

Type of Spend Until 1 June 2020 From 1 June 2020
Local Spending 1.2 miles/ $1 6 miles/ $5
Overseas Spending 2.1 miles/ $1 10.5 miles/ $5

Those of you good at mental sums may have concluded that nothing’s changed. You used to earn 1.2 miles per $1 spent, now you earn 6 miles per $5. It’s two sides of the same coin, isn’t it?

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Not quite. The devil is in the details. From 1 June 2020, OCBC will round all transactions down to the nearest $5 before awarding points. That’s to say, a $9.99 transaction will earn the same number of miles as a $5 one, and a $14.99 transaction the same as $10. If you spend less than $5, you’ll earn 0 points.&nbsp;” data-reactid=”37″>Not quite. The devil is in the details. From 1 June 2020, OCBC will round all transactions down to the nearest $5 before awarding points. That’s to say, a $9.99 transaction will earn the same number of miles as a $5 one, and a $14.99 transaction the same as $10. If you spend less than $5, you’ll earn 0 points. 

Here’s an illustration of how this works:

Amount (Local Spending) Until 1 June 2020 From 1 June 2020
$4.99 5 miles 0 miles
$9.99 11 miles 6 miles
$14.99 17 miles 12 miles
$19.99 23 miles 18 miles
$24.99 29 miles 24 miles

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Granted, the most miles you lose on any transaction is five, which isn’t something to lose sleep over. At the same time, it’s not terribly intuitive that someone who spends $24.99 should be rewarded the same as someone who spends $20. Moreover, the cumulative losses over a year can add up, and you’ll need to be careful not to use your OCBC card for any transactions under $5.&nbsp;” data-reactid=”41″>Granted, the most miles you lose on any transaction is five, which isn’t something to lose sleep over. At the same time, it’s not terribly intuitive that someone who spends $24.99 should be rewarded the same as someone who spends $20. Moreover, the cumulative losses over a year can add up, and you’ll need to be careful not to use your OCBC card for any transactions under $5. 

For ease of reference, here’s the minimum spend required to earn points on some of the more popular miles cards:

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="2. New rewards exclusion categories” data-reactid=”45″>2. New rewards exclusion categories

From 1 June 2020, OCBC will add some new rewards exclusion categories. The main ones to note are transportation and public/non-profit hospitals.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Transportation” data-reactid=”54″>Transportation

The following MCCs will no longer earn points:

  • MCC 4111: Public transport
  • MCC 4121: Taxicabs and limousines
  • MCC 4131:  Bus lines

The exceptions to this rule are Grab, Gojek, and Comfort or CityCab. OCBC has clarified that other taxi companies like Prime Taxi and SMRT Taxi will continue to earn points, but other ridesharing apps like TADA and Ryde will not be eligible. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Unfortunately, SimplyGo (MCC 4111) falls under the exclusion category too, which means you will no longer earn points on bus or MRT rides.&nbsp;” data-reactid=”61″>Unfortunately, SimplyGo (MCC 4111) falls under the exclusion category too, which means you will no longer earn points on bus or MRT rides

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Public or non-profit hospitals” data-reactid=”66″>Public or non-profit hospitals

OCBC is excluding any public or non-profit hospitals or clinics that fall under MCC 8062. This means you will no longer earn points for paying bills at government hospitals like Changi General Hospital and Khoo Teck Puat Hospital, polyclinics and specialist centres like the National Skin Centre, National Heart Centre and National Cancer Centre. 

However, you can continue to earn points for card charges at private hospitals and clinics, such as Raffles Medical and Mt Elizabeth Hospital. 

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="3. Changes for OCBC VOYAGE cardholders” data-reactid=”69″>3. Changes for OCBC VOYAGE cardholders

OCBC Voyage CardOCBC Voyage Card
OCBC Voyage Card

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OCBC has also unveiled some changes that specifically affect the VOYAGE card. 

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Revised earning rates” data-reactid=”83″>Revised earning rates

OCBC VOYAGE cardholders will see a change in the number of miles they earn from 1 June 2020. 

Type of Spend Until 1 June 2020 From 1 June 2020
Local Spending 1.2 mpd 1.3 mpd
Overseas Spending 2.3 mpd 2.2 mpd
Dining 1.6 mpd 1.3 mpd

Cardholders are worse off if they spend a lot overseas (4% worse) or on dining (19% worse). However, they will see a slight increase in the earn rate on local spending (8% better).

Here’s how OCBC VOYAGE measures up to other premium cards (those with annual fees of at least $500) in the market after the changes: 

Card Local Spend Overseas Spend
OCBC VOYAGE Before 1 June: 1.2 mpd
After 1 June: 1.3 mpd
Before 1 June: 2.3 mpd
After 1 June: 2.2 mpd
UOB Visa Infinite Metal Card 1.4 mpd 2.0 mpd
Citi Prestige 1.3 mpd 2.0 mpd
SCB X Card 1.2 mpd 2.0 mpd
Maybank Visa Infinite 1.2 mpd 2.0 mpd
HSBC Visa Infinite 1.0/1.25 mpd* 2.0/2.25 mpd*

*1.25/2.25 mpd rates if cardholder spends at least S$50K in previous membership year, otherwise 1.0/2.0 mpd

The earn rates for the OCBC Premier, OCBC Premier Private Client and Bank of Singapore VOYAGE cards have not changed. These cards will continue to earn 1.6 mpd on all local spend, and 2.3 mpd on overseas spend. 

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Increased spending for airport limo” data-reactid=”93″>Increased spending for airport limo

Currently, OCBC VOYAGE cardholders who spend $3,000 per month receive a complimentary airport limousine ride, capped at two per month. 

From 1 June 2020, the spending requirement will be increased by 67% to $5,000 in a month, with the same cap. That makes the VOYAGE’s spending requirement the second highest in the market. 

Card Qualifying Spend for Limo Rides per Qualifying Spend
UOB PRVI Miles AMEX $1,000 2
HSBC Visa Infinite $2,000 1
Maybank Visa Infinite $3,000 2
OCBC VOYAGE $5,000 (from 1 June) 1
Citi Prestige $12,000 2

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Conclusion” data-reactid=”105″>Conclusion

None of these changes are deal breakers, but you’ll want to pay careful attention to how you use your OCBC credit cards from 1 June, especially with small transactions. If you’ve got your OCBC card saved as the default option in a ride hailing app other than Grab or Gojek, or in your mobile wallet to use for SimplyGo, you may want to swap that out too.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Compare Best Credit Cards” data-reactid=”107″>Compare Best Credit Cards

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Read these next:
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Which Online Grocery In Singapore Delivers The Biggest Savings?
Online Credit Card Promotions During Circuit Breaker
OCBC Titanium Rewards Card: One Shopping Card You’ll Want In Your Wallet
Netflix, Spotify, GrabFood, XBox: Best Credit Cards For Online Subscriptions

” data-reactid=”108″>Read these next:
Essential Shops Open During COVID-19 Circuit Breaker
Which Online Grocery In Singapore Delivers The Biggest Savings?
Online Credit Card Promotions During Circuit Breaker
OCBC Titanium Rewards Card: One Shopping Card You’ll Want In Your Wallet
Netflix, Spotify, GrabFood, XBox: Best Credit Cards For Online Subscriptions

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="By&nbsp;Aaron Wong
Aaron started The MileLion to help people travel better for less and impress “chiobu”. He was 50% successful. This is&nbsp;his story.” data-reactid=”116″>By Aaron Wong
Aaron started The MileLion to help people travel better for less and impress “chiobu”. He was 50% successful. This is his story.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The post OCBC Credit Cards: Important Changes Cardholders Need To Know appeared first on SingSaver Blog – We Compare, You Save.” data-reactid=”117″>The post OCBC Credit Cards: Important Changes Cardholders Need To Know appeared first on SingSaver Blog – We Compare, You Save.