ocbc 360 account

[Cumzilla]

Feb very little bonus, only $53X.XX instead of the usual $59X.XX

heng u never ask huai?

 

[TickTechToe]

Hi all, for the credit card bonus interest, I need to spend $500. Are utilities bills (e.g SP Group, Senoko), counted in the $500 to qualify for the credit card bonus interest. I read the terms and conditions for 360 account. It states

The following are examples of transactions that will not be eligible:
payments made to or transactions performed at merchants that fall into the exclusion categories/excluded organisations as set out by OCBC Bank in OCBC website > Personal Banking > Cards > OCBC 365 Credit Card, OCBC INFINITY Cashback Card, OCBC Rewards Card, OCBC 90°N Mastercard, OCBC90°NVisa Card and OCBC NXT card.

I read the T&C for OCBC 365 card, utilities are not in the exclusion list that will not earn cashback. (Means utilities bills earn cashback). But I do not have OCBC 365 credit card.

For other 5 cards (Infinity card, NXT card) T&C, utilities fall under the list that will not earn cashback/rewards.

If I use Infinity card to pay for my utilities, will it be counted as part of the $500 to earn credit card bonus for my 360 account. Is it only utilities bills charged under OCBC 365 count towards the $500. Can anyone advise me? Thanks in advance

 

[ahchan]

Hi all, for the credit card bonus interest, I need to spend $500. Are utilities bills (e.g SP Group, Senoko), counted in the $500 to qualify for the credit card bonus interest. I read the terms and conditions for 360 account. It states

The following are examples of transactions that will not be eligible:
payments made to or transactions performed at merchants that fall into the exclusion categories/excluded organisations as set out by OCBC Bank in OCBC website > Personal Banking > Cards > OCBC 365 Credit Card, OCBC INFINITY Cashback Card, OCBC Rewards Card, OCBC 90°N Mastercard, OCBC90°NVisa Card and OCBC NXT card.

I read the T&C for OCBC 365 card, utilities are not in the exclusion list that will not earn cashback. (Means utilities bills earn cashback). But I do not have OCBC 365 credit card.

For other 5 cards (Infinity card, NXT card) T&C, utilities fall under the list that will not earn cashback/rewards.

If I use Infinity card to pay for my utilities, will it be counted as part of the $500 to earn credit card bonus for my 360 account. Is it only utilities bills charged under OCBC 365 count towards the $500. Can anyone advise me? Thanks in advance

Actually, for OCBC, it is quite weird...
Last month I made a payment (>$500) to a charity organization (under religious MCC code) ...
According to the bank, this MCC code will not have rebate...
But the pleasant surprise is that I got the "Spend Bonus" for Feb...
So I am not sure what the exclusion they listed for the 365 Credit card for rebate does also apply to the $500 spending for the 360-bank account...

Anyway, I am glad that I received the "spend bonus" for last month...

 

[TickTechToe]

Actually, for OCBC, it is quite weird...
Last month I made a payment (>$500) to a charity organization (under religious MCC code) ...
I called up the bank and they confirmed that that one will not have rebate.
But to my surprise, I did get the "Spend Bonus" for Feb...
So I am not sure what the exclusion they listed for the 365 Credit card for rebate does also apply to the $500 spending for the 360-bank account...

Anyway, I am glad that I received the "spend bonus" for last month...

Is there T&C that bank can claw back the bonus?

 

[Cumzilla]

Actually, for OCBC, it is quite weird...
Last month I made a payment (>$500) to a charity organization (under religious MCC code) ...
According to the bank, this MCC code will not have rebate...
But the pleasant surprise is that I got the "Spend Bonus" for Feb...
So I am not sure what the exclusion they listed for the 365 Credit card for rebate does also apply to the $500 spending for the 360-bank account...

Anyway, I am glad that I received the "spend bonus" for last month...

banks usually don't make 'mistakes' like this, u might want to check the MCC of the charity organisation u made payment to, maybe not 8398 or 8661.

 

[pantss]

Rates revised downwards!


go.ocbc.com/notice360

 

[xueni84]

Should change salary crediting account already? UOB better?

 

[Jun666]

so whats the revised EIR for 100K after May?

 

[Jun666]

nvm, now they nerfed to 2.8% p.a

 

[addict951]

nvm, now they nerfed to 2.8% p.a

So from 4.65% plunge till 2.85%???

 

[midnightinparis]

nvm, now they nerfed to 2.8% p.a

Sorry bro, I’m noob here, can advise how u count? Thanks in advance

 

[Jun666]

Sorry bro, I’m noob here, can advise how u count? Thanks in advance

Effective Interest Rate (EIR) = [1 + (i ÷ n)]^n – 1

 

[pohw0008]

So from 4.65% plunge till 2.85%???

If add the card spending should be 3.3%??

 

[Mickey01]

Salary Credit + Save = 2.75%
Salary Credit + Save + Spend = 3.25%

Base Interest at 0.05%

 

[70niner]

If only aim for Sal + Save + Spend + %0.05, EIR should be 3.3%

 

[addict951]

If add the card spending should be 3.3%??

Ya, just found out moar
Those who are accustomed to $4650 annually one will get $3300 from May onward.
The save part sibei jialat. The ir tio slashed by half.

 

[biggirl20]

I think i earn more if i put in SF gosavers

 

[Mickey01]

I think i earn more if i put in SF gosavers

what deposit amount are you comparing?

 

[EveMuffins]

me is always salary+save=4.05%

from May drop to 2.8%

haizz

 

[biggirl20]

what deposit amount are you comparing?

I alr have some amount in gosavers, so comparing with the current ocbc 360 max amount, at least the 'extra' i earn from gosaver will exceed the revised ocbc 360 rate.