If you are a foreigner living in Singapore, you may wonder if you are eligible for an OCBC credit card. The good news is that OCBC offers credit cards for foreigners, but there are specific foreigners OCBC credit card eligibility requirements that you need to meet.
In this article, we will compare the different OCBC credit cards available to foreigners so you can choose the one that best suits your needs.
Understanding OCBC Credit Card Eligibility for Foreigners To be eligible for an OCBC credit card as a foreigner, you must have a valid Singapore Employment Pass and earn a minimum annual income of $45,000. If you meet these requirements, you can apply for any of the OCBC credit cards available to foreigners. However, it is important to note that some premium cards may have stricter eligibility rules, so it is always best to check the details carefully before applying.
Comparing OCBC Credit Cards OCBC offers a range of credit cards for foreigners, each with its own unique benefits and rewards. From cashback to miles and interest-free instalments, there is a card to suit every lifestyle and spending habit. In the next section, we will compare the different OCBC credit cards available to foreigners, so you can choose the one that best fits your needs.
Key Takeaways
- OCBC offers credit cards for foreigners living in Singapore, but you need to meet certain eligibility requirements, such as having a valid Singapore Employment Pass and earning a minimum annual income of $45,000.
- OCBC credit cards for foreigners come with a range of benefits and rewards, such as cashback, miles, and interest-free instalments, so it is important to compare the different cards to find the one that best suits your needs.
- Before applying for an OCBC credit card, it is important to check the eligibility requirements and fees and charges, as well as compare the card to other banks’ offerings to ensure that you are getting the best deal.
Understanding OCBC Credit Card Eligibility for Foreigners
If you are a foreigner residing in Singapore, you may be eligible to apply for an OCBC credit card. OCBC offers a range of credit cards with various benefits, such as cashback, rewards, and miles. Before you apply for an OCBC credit card, you must understand the eligibility criteria, documents required, and minimum income requirements.
Eligibility Criteria
To be eligible for an OCBC credit card, you must meet the following eligibility rules:
- You must be a Singapore citizen, Permanent Resident (PR), or foreigner with a valid Singapore Employment Pass.
- You must be at least 21 years old.
- You must meet the minimum income requirements.
Documents Required
When you apply for an OCBC credit card, you must provide the following documents:
- A copy of your NRIC or passport
- A copy of your employment pass (for foreigners)
- A copy of your latest income tax notice of assessment
- A copy of your latest computerized payslip or employment letter
Minimum Income Requirements
The minimum income requirements for OCBC credit cards vary depending on the type of card you are applying for. For Singapore citizens and PRs, the minimum income requirements range from S$30,000 to S$120,000 per annum. For foreign residents, the minimum income requirements range from S$45,000 to S$180,000 per annum.
In conclusion, if you are a foreigner residing in Singapore, you may be eligible to apply for an OCBC credit card. However, you must meet the eligibility criteria, provide the required documents, and meet the minimum income requirements. By understanding these requirements, you can choose the right OCBC credit card for your needs.
Comparing OCBC Credit Cards
If you are a foreigner looking for a credit card in Singapore, you may want to consider OCBC credit cards. OCBC offers a range of credit cards that cater to different needs and preferences. In this section, we will compare four popular OCBC credit cards: OCBC 365 Credit Card, OCBC Titanium Rewards Card, OCBC FRANK Credit Card, and OCBC Voyage Card.
OCBC 365 Credit Card
The OCBC 365 Credit Card is a great option for those who want to earn cashback on their daily expenses. With this card, you can earn cashback on dining, groceries, petrol, and online travel bookings. You can also earn cashback on recurring bills such as telco and utility bills.
The OCBC 365 Credit Card offers a cashback rate of up to 6% on dining, 3% on groceries, 5% on petrol, and 3% on online travel bookings. The cashback rate for recurring bills is 3%. There is a minimum spend requirement of S$800 per month to qualify for the cashback.
OCBC Titanium Rewards Card
The OCBC Titanium Rewards Card is a good option for those who want to earn rewards points on their shopping. With this card, you can earn rewards points on fashion, electronics, and department store purchases. You can also earn rewards points on online shopping and overseas spending.
The OCBC Titanium Rewards Card offers a rewards rate of up to 10X OCBC$ per S$1 spent on eligible purchases. OCBC$ can be redeemed for vouchers, miles, or cash rebates. There is no minimum spend requirement to earn rewards points.
OCBC FRANK Credit Card
The OCBC FRANK Credit Card is a popular option for students and young adults. With this card, you can earn cashback on entertainment, dining, and online shopping. You can also customize the design of your card to reflect your personality.
The OCBC FRANK Credit Card offers a cashback rate of up to 6% on entertainment, 5% on dining, and 6% on online shopping. The cashback rate for other categories is 0.5%. There is a minimum spend requirement of S$400 per month to qualify for the cashback.
OCBC Voyage Card
The OCBC Voyage Card is a premium credit card that offers travel benefits and rewards. With this card, you can earn Voyage Miles on your spending, which can be redeemed for flights, hotel stays, and other travel expenses. You can also enjoy airport lounge access, travel insurance, and concierge services.
The OCBC Voyage Card offers a rewards rate of up to 1.6 Voyage Miles per S$1 spent on eligible purchases. There is no minimum spend requirement to earn Voyage Miles.
In conclusion, OCBC credit cards offer a range of benefits and rewards that cater to different needs and preferences. Whether you want to earn cashback, rewards points, or travel benefits, there is an OCBC credit card for you.
Exclusive Benefits and Rewards
If you are a foreigner in Singapore looking for a credit card that offers exclusive benefits and rewards, then OCBC has got you covered. With OCBC credit cards, you can enjoy a range of cashback, rebates, travel perks, dining privileges, and retail and online shopping rewards.
Cashback and Rebates
OCBC credit cards offer some of the best cashback and rebates in Singapore. You can earn up to 8% cashback on eligible transactions with the OCBC 365 Credit Card. The card also offers cashback on dining, transport, and groceries. If you are a frequent online shopper, then the OCBC Frank Credit Card is perfect for you. You can earn up to 6% cashback on eligible transactions with popular online merchants such as Amazon, Grab, Deliveroo, and RedMart.
Travel Perks
If you love to travel, then OCBC credit cards have got you covered. You can enjoy travel insurance coverage of up to S$1 million with the OCBC 90°N Card. The card also offers airport lounge access and exclusive travel privileges. If you are a frequent flyer, then the OCBC Voyage Card is perfect for you. You can earn air miles on eligible transactions and redeem them for flights, hotel stays, and other travel-related expenses.
Dining Privileges
OCBC credit cards offer some of the best dining privileges in Singapore. You can enjoy up to 50% off your dining bill with the Love Dining program. The program offers discounts at over 50 restaurants in Singapore and Malaysia. If you love to dine out, then the OCBC Titanium Rewards Card is perfect for you. You can earn rewards points on eligible transactions and redeem them for dining vouchers and other rewards.
Retail and Online Shopping Rewards
OCBC credit cards offer some of the best retail and online shopping rewards in Singapore. You can earn rewards points on eligible transactions with the OCBC Titanium Rewards Card. The card also offers exclusive privileges at popular retail stores such as Robinsons, TANGS, and ZALORA. If you are a frequent online shopper, then the OCBC Frank Credit Card is perfect for you. You can earn up to 6% cashback on eligible transactions with popular online merchants such as Amazon, Grab, Deliveroo, and RedMart.
Overall, OCBC credit cards offer a range of exclusive benefits and rewards for foreigners in Singapore. Whether you are looking for cashback, travel perks, dining privileges, or retail and online shopping rewards, there is a card that is perfect for you.
Fees and Charges
When looking for a credit card, one of the most important things to consider is the fees and charges associated with it. With OCBC credit cards, there are a few fees and charges that you should be aware of.
Annual Fees and Waivers
Most credit cards charge an annual fee, and OCBC credit cards are no exception. However, the good news is that OCBC offers a number of credit cards with no annual fee, such as the OCBC 365 Credit Card and the OCBC Frank Credit Card. If you are looking for a premium credit card, you can expect to pay an annual fee of around SGD 192.60 to SGD 535.00.
OCBC also offers annual fee waivers for certain credit cards. For example, the annual fee for the OCBC 365 Credit Card is waived for the first two years if you spend a minimum of SGD 10,000 per year.
Foreign Transaction Fees
If you are a foreigner using an OCBC credit card in Singapore, you may be subject to foreign transaction fees. These fees are typically around 2.8% of the transaction amount. However, some OCBC credit cards offer no foreign transaction fees, such as the OCBC Voyage Credit Card.
Interest Rates
Interest rates are an important consideration when choosing a credit card, as they can have a significant impact on your finances. OCBC credit cards offer interest rates ranging from 25.92% to 28.92% per annum. However, if you pay your balance in full and on time each month, you can avoid paying any interest at all.
Overall, while there are some fees and charges associated with OCBC credit cards, there are also many benefits, such as annual fee waivers and no foreign transaction fees. By choosing the right credit card for your needs, you can enjoy the benefits of using a credit card without breaking the bank.
Applying for an OCBC Credit Card
If you are a foreigner in Singapore looking to apply for an OCBC credit card, you will be pleased to know that the process is straightforward, and can be done online.
Online Application Process
To apply for an OCBC credit card online, follow these simple steps:
- Visit the OCBC website and select the credit card that best suits your needs.
- Click on the “Apply Now” button to start your application.
- Fill in your personal details, including your name, date of birth, and contact information.
- Provide your employment details, including your occupation, employer’s name, and monthly income.
- Review your application details and submit your application.
- Wait for your application to be processed. You will be notified of the outcome via email or SMS.
Using MyInfo for Faster Processing
If you want to speed up the application process, you can use MyInfo, a government digital service that allows you to automatically fill in your personal and employment details.
To use MyInfo, follow these steps:
- Click on the “Apply Now” button on the OCBC website.
- Select “MyInfo” as your application method.
- Log in to your SingPass account to grant permission for OCBC to use your MyInfo data.
- Review your application details and submit your application.
- Wait for your application to be processed. You will be notified of the outcome via email or SMS.
Using MyInfo can significantly reduce the processing time for your credit card application.
Overall, applying for an OCBC credit card as a foreigner in Singapore is a hassle-free process that can be done entirely online. By following the steps outlined above, you can submit your application quickly and easily, and be on your way to enjoying the benefits of an OCBC credit card.
Comparative Analysis with Other Banks
When it comes to credit card eligibility for foreigners in Singapore, OCBC is not the only bank that offers credit cards. Other banks also have credit cards that cater to foreigners with different requirements and benefits. In this section, we will compare OCBC credit cards with credit cards from DBS, UOB, Citibank, and Standard Chartered.
DBS Credit Cards
DBS offers credit cards for foreigners in Singapore, such as the DBS Woman’s World Card. To be eligible for this card, you need to have a minimum income of SGD 80,000 per annum. The card offers cashback on online shopping, dining, and overseas spending. However, the cashback is capped at SGD 80 per month.
UOB Credit Cards
UOB also offers credit cards for foreigners in Singapore, such as the UOB One Card. To be eligible for this card, you need to have a minimum income of SGD 30,000 per annum. The card offers cashback on everyday spending, such as groceries, dining, and petrol. However, the cashback is also capped at SGD 300 per quarter.
Citibank Credit Cards
Citibank offers credit cards for foreigners in Singapore, such as the Citibank Rewards Card. To be eligible for this card, you need to have a minimum income of SGD 30,000 per annum. The card offers rewards points on spending, which can be redeemed for vouchers or air miles. However, the rewards points expire after three years.
Standard Chartered Credit Cards
Standard Chartered also offers credit cards for foreigners in Singapore, such as the HSBC Revolution Credit Card. To be eligible for this card, you need to have a minimum income of SGD 30,000 per annum. The card offers rewards points on spending, which can be redeemed for vouchers or air miles. However, the rewards points expire after one year.
In conclusion, when it comes to credit card eligibility for foreigners in Singapore, there are several options available from different banks. Each bank has its own set of eligibility criteria, benefits, and limitations. It is important to compare and choose the card that best suits your needs and spending habits.
Additional Services and Features
If you’re a foreigner in Singapore looking for a credit card, you’ll want to consider the additional services and features that come with your card. OCBC offers a range of services that can help make your life easier, from their mobile app to their customer support and concierge.
OCBC Mobile App
The OCBC Mobile App is a powerful tool that lets you manage your credit card on the go. You can check your balance, view your transactions, and make payments all from your phone. The app also lets you set up alerts for things like payment due dates and card activity, so you can stay on top of your finances.
OCBC Pay Anyone
OCBC Pay Anyone is a convenient way to make payments to your friends and family. You can use the app to transfer money to anyone with a Singapore bank account, even if they don’t have an OCBC account. The app is easy to use and secure, so you can send money with confidence.
Customer Support and Concierge
OCBC offers excellent customer support, with a dedicated team of professionals ready to help you with any questions or concerns you may have. They also offer a concierge service that can help you with things like travel arrangements, restaurant reservations, and more. With this service, you can enjoy the benefits of having a personal assistant at your fingertips.
In conclusion, OCBC credit cards offer a range of additional services and features that can help make your life easier. From their mobile app to their customer support and concierge, you can enjoy the benefits of having a powerful financial tool at your fingertips.
Conclusion
Congratulations! You have now learned about OCBC credit card eligibility for foreigners in Singapore. By reviewing and comparing the different credit cards available, you can make an informed decision about which one is right for you.
Remember, when applying for a credit card, it is important to read the eligibility requirements carefully. Make sure you meet the minimum income requirements and have the necessary documents before applying.
If you are a foreigner in Singapore, you may want to consider applying for the OCBC Titanium Rewards Card. This card offers a variety of rewards and benefits, including cashback on dining, groceries, and petrol, as well as discounts at selected merchants.
Alternatively, if you are looking for a credit card with a higher cashback rate, you may want to consider the OCBC 365 Card. This card offers up to 6% cashback on dining, 3% cashback on groceries, and 5% cashback on petrol.
Whatever your needs and preferences, there is an OCBC credit card that is right for you. So go ahead and apply for your OCBC credit card today and start enjoying the benefits!
Frequently Asked Questions
What perks can I expect with the OCBC 365 Credit Card?
With the OCBC 365 Credit Card, you can enjoy a wide range of perks such as cashback on dining, petrol, and groceries. You can also get discounts on entertainment and travel bookings. Moreover, the card offers a 24/7 concierge service that can assist you with travel and lifestyle needs.
How do I snag the latest OCBC credit card promotions?
To stay updated with the latest OCBC credit card promotions, you can check their official website or social media pages. Alternatively, you can sign up for their newsletter to receive notifications about new promotions.
Which OCBC credit card tops the charts for benefits and rewards?
The OCBC Voyage Card is highly recommended for those seeking premium benefits and rewards. It offers a generous rewards program, exclusive airport lounge access, and travel insurance coverage.
Could you guide me through the OCBC 365 Credit Card’s terms and conditions?
Sure! You can find the OCBC 365 Credit Card’s terms and conditions on their official website. Some important terms to note include the minimum spend required to qualify for cashback, the cashback cap, and the annual fee waiver criteria.
What’s the minimum income requirement for expats eyeing an OCBC credit card?
The minimum income requirement for expats varies depending on the type of card you are interested in. Generally, the requirement with OCBC will be an income of around 30,000 SGD if you’re Singaporean/PR, or 45,000 SGD as a foreigner. However, some premium cards have stricter rules in place, so do check the details carefully.
How quickly can I find out my OCBC credit card application status?
You can check your OCBC credit card application status online or through their mobile app. The status will typically be available within 3 to 5 business days. If you have any questions or concerns, you can contact their customer service team for assistance.
