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Old 03-03-2015, 08:39 PM   #31
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Did you ask about redemption rates for air tickets? I suppose no waiver on the first year fee?
That fella don't know anything lah. Decided to figure it out later. Yes, there is an annual fee. I think its $400, but I get 15K miles. Not worthwhile I must add, but let's see how this experiment goes.
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Old 03-03-2015, 08:45 PM   #32
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Pay $500 annual fees already ****
annual fee is too crazy laaaa
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Old 03-03-2015, 09:01 PM   #33
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i just applied.
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Old 03-03-2015, 09:07 PM   #34
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i just applied.
Does OCBC is very strict with their income requirement?
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Old 03-03-2015, 09:22 PM   #35
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Does OCBC is very strict with their income requirement?
Yes they are.
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Old 03-03-2015, 09:41 PM   #36
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No idea. Try liao let you all know
It's in the T&Cs. You have to call the Voyage Exchange to book the taxi.

That fella don't know anything lah. Decided to figure it out later. Yes, there is an annual fee. I think its $400, but I get 15K miles. Not worthwhile I must add, but let's see how this experiment goes.
Hmmm, I might hold on then, wait for more info. No rush anyway.

Does OCBC is very strict with their income requirement?
Card is targeted at high net worth individuals. You say leh?

Of course, if your salary low, but asset rich, you can also get the card by being Premier Customer first.
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Old 04-03-2015, 08:21 AM   #37
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Card is targeted at high net worth individuals. You say leh?
Thats what they always claim, but after 1 year, take up rate no good, they will start offering it to those with $48k annual income, happened with a few cards like Platinum reserve, started off with $120k requirement, after a while started issuing to those with much less income.

In the newspaper article, it was reported that OCBC is in 3rd or 4th place in the credit card race. Will this card move them to 1st place? Somehow I don't think so.

If they are so interested in attracting those with higher income, then they should be offering lifetime fee waiver like they did for their Frank Card.
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Old 04-03-2015, 08:22 AM   #38
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Card is targeted at high net worth individuals. You say leh?

Of course, if your salary low, but asset rich, you can also get the card by being Premier Customer first.
Earning 120K PA today is not HNWI lah bro
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Old 04-03-2015, 08:50 AM   #39
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Thats what they always claim, but after 1 year, take up rate no good, they will start offering it to those with $48k annual income, happened with a few cards like Platinum reserve, started off with $120k requirement, after a while started issuing to those with much less income.
Really? Which cards? As far as I am aware, none of these cards (usually branded as Visa Infinite or World Elite Mastercards) have lowered their requirement. Some of them might be offered to someone with low income, but high assets (& thus a member of the bank's priority banking). I'm talking about cards like Citi Prestige, HSBC Visa Infinite, Amex Platinum Charge Card (NOT the credit card).

In the newspaper article, it was reported that OCBC is in 3rd or 4th place in the credit card race. Will this card move them to 1st place? Somehow I don't think so.
OCBC thinks that it can, by enticing high spenders to use this card instead of whatever other card they are already using.

I also disagree. Rewards-wise, yet to prove that it is superior to other available cards. Perks and privileges-wise, also doesn't seem to match what those top-tier cards provide.

If they are so interested in attracting those with higher income, then they should be offering lifetime fee waiver like they did for their Frank Card.
Most of the top tier cards like those I mentioned above do not give fee waiver, ever. You can plead, beg, threaten the bank, they will not budge. Take the most exclusive card in the market right now. Amex Centurion card. In the US, it has a joining fee of USD7,500 and an annual fee of USD2,500. All non-waivable. It's about the same here in Singapore. But, you can bet the really rich have and use this card. Why? Because they value the perks and privileges more than the 2,500.

Even if we look at the lower tier cards, many would pay the annual fee for cards like DBS Altitude or Citi Premiermiles cards because they get something as valuable (or more valuable) back, in the form of air miles.

Long story short, fee waivers don't move the needle. Value for money does.

Earning 120K PA today is not HNWI lah bro
Not I say one. OCBC say one. I was surprised as well at the 'low' salary requirement given their stated aim of attracting high net worth and affluent customers.
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Old 04-03-2015, 09:06 AM   #40
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Thats what they always claim, but after 1 year, take up rate no good, they will start offering it to those with $48k annual income, happened with a few cards like Platinum reserve, started off with $120k requirement, after a while started issuing to those with much less income.

In the newspaper article, it was reported that OCBC is in 3rd or 4th place in the credit card race. Will this card move them to 1st place? Somehow I don't think so.

If they are so interested in attracting those with higher income, then they should be offering lifetime fee waiver like they did for their Frank Card.
Anyone remb they use to have a OCBC world elite mastercard. That one failed pretty badly
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Old 04-03-2015, 09:19 AM   #41
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Really? Which cards? As far as I am aware, none of these cards (usually branded as Visa Infinite or World Elite Mastercards) have lowered their requirement. Some of them might be offered to someone with low income, but high assets (& thus a member of the bank's priority banking). I'm talking about cards like Citi Prestige, HSBC Visa Infinite, Amex Platinum Charge Card (NOT the credit card).
They can call it Infinite or whatever, but they are not offering it to HNW but to the new marketing term 'mass affluent', those around $120k p.a.

For mass affluent cards, there is no exclusivity and the history of such cards, eg: Amex Platinum Reserve, is that the income requirement drops as time goes by.
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Old 04-03-2015, 10:23 AM   #42
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I applied for the card this morning and OCBC called me like 10AM. Bloody efficient. Anyhow, this card allows the redemption of taxi rides form airport to home for 3K Voyager Miles. Very useful for me.
i applied last night. till now, no sound no picture.
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Old 04-03-2015, 10:33 AM   #43
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How to redeem? Book first? Or take a taxi then fax the receipt in to claim?
I like how "fax the receipt" is still thought of as a actual possibility here in SG.
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Old 04-03-2015, 10:42 AM   #44
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Everybody is moaning abt the low earn rate for this card. Have you factored in that the flights redeemed can accrue miles? if accrued at full rate it is not that bad a deal IMO. Can help you get your Krisflyer Gold status.....no?
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Old 04-03-2015, 11:06 AM   #45
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Actually, this seems to be a dining card.
2.3 miles per dollar for local dining.

For people, who always eat at restaurants alot, this is a pretty good earn rate per dollar.

Btw $10k a month = $120k a year = mass affluent?
I didn't know that lol.
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