Sorry couldn’t blog from work due to being too busy (yes I stayed
in the office from Friday to Sunday for work, 3D2N lol) So here comes my
new post.
Some of you might know this but for people like me whom OCBC didn’t notify me about policy changes.
You can find it here: http://www.frankbyocbc.com/products_creditcard_tnc.html
Most notably, the NETS ATU 6% rebates is only for the first two transactions in a month.
Next would be these:
Of course for bill payments, one can still use the OCBC 360 account to pay and get extra interest. If your account size is good enough, you’ll get probably more than the 6% rebate will give you anyway =)
Also, OCBC calculates transactions in foreign currencies by converting to USD first then to SGD. It is a point to note when you purchase stuff in other currencies, as there would be an extra conversion difference. On that point, I would also point out that for most of the time, the exchange rate for Paypal or eBay/Amazon is at a higher rate than OCBC, so do ask them to bill in USD or SGD (I can’t quantify as accurately whether something like EUR -> USD -> SGD via OCBC is cheaper than asking Paypal/Amazon/eBay to bill you from EUR -> SGD directly though).
Some of you might know this but for people like me whom OCBC didn’t notify me about policy changes.
You can find it here: http://www.frankbyocbc.com/products_creditcard_tnc.html
Most notably, the NETS ATU 6% rebates is only for the first two transactions in a month.
Next would be these:
- Retail transactions are purchases for goods and services and exclude the following transactions: (a) Payments made via telephone or mail order; (b) Subscription and recurring payments; (c) Payments to government institutions; (d) Payments to financial institutions (including banks and brokerages); (e) Payments to insurance companies; (f) Utility bill payments; (g) Donations; h) Payment of funds to prepaid accounts and merchants who are categorised as “payment service providers”; (i) Payments to schools, hospitals, professional services providers and payments for parking lots (j) Payments of membership fees to clubs and associations; (k) Payments made via online banking; (l) Any other transactions determined by OCBC from time to time.
- Annual card fees, Cashwise Facility, Instalment Payment Plan, income tax, interest, late payment charges, goods and services taxes, Cash Advances, Balance Transfers and other fees and charges will not be taken into account in the award and computation of cash rebates.
Of course for bill payments, one can still use the OCBC 360 account to pay and get extra interest. If your account size is good enough, you’ll get probably more than the 6% rebate will give you anyway =)
Also, OCBC calculates transactions in foreign currencies by converting to USD first then to SGD. It is a point to note when you purchase stuff in other currencies, as there would be an extra conversion difference. On that point, I would also point out that for most of the time, the exchange rate for Paypal or eBay/Amazon is at a higher rate than OCBC, so do ask them to bill in USD or SGD (I can’t quantify as accurately whether something like EUR -> USD -> SGD via OCBC is cheaper than asking Paypal/Amazon/eBay to bill you from EUR -> SGD directly though).
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