Ocbc Plus! Visa Credit Card Review

OCBC Plus! Visa Credit Card Review: Best for NTUC FairPrice

OCBC Plus Visa Credit Card customers get to enjoy huge cash rebates when shopping at FairPrice stores, as well as with all credit and debit card transactions made at Unity and Warehouse Club stores. 

This means the OCBC NTUC Plus Visa Credit Card is a great fit for anyone who frequently makes in store purchases with FairPrice, Unity, and Warehouse Club, or uses their Visa card for Unity, Warehouse Club, and FairPrice online purchases. 

That said, you’ll need to be an NTUC Union Member to get the best annual cash rebate discounts, and hit a high minimum spend to avoid paying a costly annual fee.

What is the OCBC Plus Visa Credit Card?

This increasingly popular Visa card comes with no minimum annual income requirements for students and freelancers, making it super-accessible to Singaporeans from all walks of life. 

However, OCBC Plus Visa Credit Card customers will need to hit a $500 minimum spend outside of FairPrice to unlock the Plus Visa Card’s best bonus LinkPoints rebate discounts and benefits, which we’ll discuss throughout this OCBC Plus Visa Credit Card Review.

Right now, anyone who fills in an OCBC Plus Visa Credit Card online application form will receive an exclusive Plus Savings Account when they register for a new Visa card. This savings account is good for up to 0.05% annual interest, with no monthly fee or initial deposit required. More details can be found on the OCBC website here

 

Key Features of the OCBC Plus Visa Credit Card

1. Enjoy up to 7% off in store purchases at retailers like FairPrice Stores Unity and Warehouse 

Any in-person Visa purchases at FairPrice Unity and Warehouse stores will attract a 7% bonus LinkPoints rebate. Online FairPrice purchases and Visa spendings will attract a 3% LinkPoints rebate. 

2. Get a bonus LinkPoints rebate with grocery shopping at selected retailers 

Bonus LinkPoints are available at more than 200 participating retailers.

3. Claim an annual fee waiver for the first year

Principal cardholders can waive their first year’s $107 annual fee by hitting a $2,500 minimum spend limit in 12 months.

4. Take advantage of huge fuel savings at Esso

Customers can link their Esso Smiles Account to their OCBC Plus Card and enjoy 20.3 fuel savings at Esso and 20% fuel savings at Caltex.


Related: Best Petrol Credit Card Singapore.

5. Save big on daily essentials

OCBC Plus Visa Credit Card holders can also save 1% on Telco bills, and enjoy 3% off at Popular and Cheers, as well as generous discounts on other recurring bills.

 

Pros and Cons of the OCBC Plus Visa Credit Card

Pros

  • Impressive variety of perks, ranging from rebate at FairPrice to 20.3 fuel savings at Esso
  • No minimum annual income requirement for students and freelancers
  • Competitive cashback rates on grocery shopping 
  • Superb fuel savings potential
  • Earn bonus LinkPoints and redeem rewards as you spend 

Cons

  • Customers must hit a minimum spend of $500 per month outside of FairPrice to secure a 7% rebate at FairPrice
  • Only NTUC FairPrice and affiliated supermarket chains qualify for cashback
  • Spending potential will always be limited to your LinkPoints balance
  • OCBC’s boosted rebates of up to 12% are reserved for NTUC Union Members only
  • You’ll need to pay a prevailing NTUC membership fee to take full advantage

 

Top Benefits of the OCBC Plus Visa Credit Card

1. Grocery Shopping 

All OCBC Plus Visa Credit Card customers who exceed a monthly minimum spend of $500 outside of FairPrice will benefit from huge grocery shopping discounts. Regular cardholders get to enjoy discounts of up to 7%, while NTUC Union Member customers can claim a boosted rebate rate of up to 12%.

2. Fuel Savings

Singapore’s petrol prices are always on the rise, so would-be cardholders will be happy to hear that the Plus Visa Card offers some seriously good fuel savings. Customers can enjoy 20% fuel savings at Caltex and 20.3 fuel savings at Esso (by linking their Esso Smiles Account).

3. Telco Bills 

Cardholders also get to enjoy 1% LinkPoints rebates on all Telco bills and recurring bills with Singtel, Starhub, and M1, just for being an OCBC Plus Visa Credit Card customer.

4. Other Benefits

On top of all these perks, customers can enjoy 3% off at Cheers and Popular, and a 0.22% LinkPoints rebate on all Visa spendings. 

5. Exclusive Plus! Savings Account

You’ll also get an exclusive Plus Savings Account with an interest-earning potential of 0.05% annually. NTUC Member customers get to enjoy bonus interest rates, too!

6. LinkPoints Rebate Earning Potential

Another fabulous feature OCBC offers customers is the Plus! App – which enables cardholders to track their LinkPoints balance, spending, and LinkPoints rebate options in real-time as they spend and earn. Every 100 LinkPoints equals $1 worth of rewards when you come to redeem them online.

 

How Does the OCBC NTUC Plus Visa Credit Card Compare to Competitors? 

Take a quick look at how the OCBC Plus Visa Credit Card shapes up against other top credit and debit cards available in Singapore right now:

Cashback / Rebate Rates Minimum Spend  Minimum Annual Income Best Benefits 
OCBC NTUC Plus Visa Credit Card Up to 7% off at FairPrice, Unity and Warehouse for regular customers

Up to 12% off at FairPrice, Unity and Warehouse for NTUC Member customers

$500 monthly N/A for students/freelancers

$30,000 for other Singapore Citizens

$45,000 for foreigners

Up to 20.3 fuel savings with Esso 

3% off qualifying online purchases at FairPrice and others

1% LinkPoints rebate on Singtel, Starhub and M1 recurring bills 

POSB PAssion Debit Card 4% rebates at Cold Storage, Giant and Guardian

1% cashback at Takashimaya Department Store

$400 monthly  N/A 1-for-1 tickets at participating family attractions

Free PAssion membership available 

UOB One Debit Card Up to 3% off at Cold Storage, Giant, Guardian, 7Eleven, Jasons, Grab and more $500 monthly N/A Up to $200 available in ecommerce protection

Selected discounts on dining, travel, entertainment, and online shopping available

DBS Visa Debit Card 4% cashback when using Visa PayWave (conditions apply) $500 monthly N/A No foreign exchange fees

Enjoy spending in up to 11 foreign currencies with a Multi Currency Account

OCBC Yes! Debit Card Variable rebates available across transport, online and expense spending $400 monthly N/A Save big with Grab, Lazada, FairPrice Online, McDonald’s, 7Eleven and more
OCBC Frank Debit Card 1% cashback on your daily Visa spend when you eat, shop and ride with participating retailers $400 monthly N/A Save big with Grab, Lazada, FairPrixe Online, McDonald’s, 7Eleven and more

 

Online Credit Card Payment

Verdict: What Makes OCBC Plus Visa Credit Card Stand Out? 

While the OCBC NTUC Plus Visa Credit Card isn’t the only credit or debit card on the market that offers no minimum income requirement for applicants, it does generally tend to offer higher cashback and rebate rates on grocery store spending than many of its competitors. 

That said, while OCBC’s 7% rebate rate is indeed super-competitive, it’s also sadly limited to FairPrice stores, Unity, and Warehouse purchases, whereas the likes of the UOB Debit Card and POSB PAssion card offer a little more flexibility for supermarket spenders who like to shop around. 

Ultimately, which of these debit cards is best suited to you will depend on your unique spending preferences and requirements. Just be sure to note that minimum spend limits generally sit at around $400 – $500 regardless of which card you choose, and you’ll need to keep hitting these to secure the best cashback rates. 

 

OCBC NTUC Plus Visa Credit Card Fees and Charges

  • Annual Fee – $107 (waived for the first year with $2,500 annual minimum spend)
  • Supplementary Card Fee – Free for up to 3 cards
  • Annual Interest Rate – 26.88%
  • Interest Free Period – 23 days
  • Minimum Monthly Payment – $50 or 3%, whichever is highest
  • Cash Advance Fee – $15 or 6%, whichever is highest
  • Late Payment Fee – $100
  • Administrative Fee – $150 (to accelerate transfer payments)

 

How to Apply for the OCBC NTUC Plus Visa Credit Card

The easiest way to apply for an OCBC NTUC Plus Visa Credit Card is to fill out OCBC’s quick and easy online application form here. However, you will need to ensure you meet the eligibility criteria outlined below before you can submit your application:

OCBC NTUC Plus Visa Credit Card Eligibility Criteria

Minimum Age

  • 21 years old 

Minimum Annual Income Requirement

  • N/A for students and freelancers
  • $30,000 for other Singapore citizens and Permanent Residents (PRs)
  • $45,000 for foreigners

As well as meeting the above eligibility criteria, you’ll also need to make sure you prepare the following documents and personal information alongside your application:

  • NRIC or passport
  • 6 months’ CPF statement
  • Bank statement
  • Telephone or utility bill (to be used as proof of address)
  • Singapore Employment Pass (for foreigners only)

Once you feel 100% confident you have everything you need, you can apply online here.

 

Who Should Apply for the OCBC Plus Visa Credit Card? 

The OCBC Plus Visa Credit Card is an excellent option for anyone who spends big on grocery shopping, petrol, and bill payment transactions – even more so if you’re an NTUC Union Member. 

Anyone who makes frequent Visa spend purchases at FairPrice Unity and Warehouse can reel in between 7 and 12% savings at these flagship stores. However, we do think it’s a real shame that other supermarkets aren’t eligible for these excellent rebates. 

Whether a credit or debit card like the OCBC Plus Visa Card is right for you will always be a highly personal decision. We suggest you think carefully about your spending habits and needs, then compare the Plus Visa Credit Card with other financial products on the market to narrow down your best options.

 

Our OCBC Plus Visa Credit Card Review Verdict – Is it Right for You?

The OCBC Plus Visa Credit Card offers some amazing everyday spending perks to regular Singaporeans looking to save big on fuel, groceries, and more. 

NTUC Member customers get supercharged rebate rates at NTUC FairPrice and other affiliated stores, but the same benefits at lower rates are still up for grabs for regular customers – making this card a real no-brainer for anyone who shops frequently at the right places. If you’ve decided this is the perfect credit card for you, just keep in mind that:

  • Only NTUC Member customers can claim 12% rebates on store purchases at FairPrice – other customers can only claim up to 7%
  • You’ll need to hit a $500 monthly minimum spend limit to secure the best rates
  • Fuel savings are only available at Esso and Caltex with this card
  • Bonus LinkPoints will be credited via your online balance and must be managed using the Plus! 
  • More competitive cashback rates might be available elsewhere – so always shop around!

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