Big Nerf: OCBC Titanium Rewards Changing From Annual to Monthly Cap, Removing Electronics Category
Over the past week, miles enthusiasts and websites alike have noticed a revision to OCBC Titanium Rewards coming in 1st November 2023. The word “revision” tends to be a euphemism for a reduction in benefits, and this change is indeed a big nerf to the usefulness of the OCBC Titanium Rewards.
No more electronics category
The first big change is that electronics and computer stuff (MCC 5732 and 5045) are both being removed from the card’s bonus earn rate from 1st November 2023. Instead of 10X points (equivalent to 4 miles per dollar or 2.78% cashback), such transactions will only earn a paltry 1 point (0.4 miles per dollar or 0.28% cashback) from next month onwards.
With a new earn rate that is less than even some debit cards, this renders the OCBC Titanium Rewards unusable for buying your iPhones, televisions and such, something the card has long been useful for.
Less useful for furniture
OCBC Titanium Rewards is a great card for furniture purchases given how it gives its 10X points at places like Best Denki, Harvey Norman and Courts which are considered electronics stores but also sell a lot of furniture. This will change from 1st November 2023 onwards as these retailers get removed from OCBC Titanium Rewards’ list of merchants and categories that earn 10X points.
For good measure, IKEA is also removed with this change.
Taobao, Alibaba, Ezbuy etc. still remain but the next change renders the card a lot less useful for furniture which tends to be big-ticket items.
Annual cap is changed to monthly
Perhaps one of the biggest nerfs to the card is that the annual cap for bonus points is changed to monthly. The current soon-to-be changed limit to how many bonus points you can earn is 120,000 points per year. After 1st November 2023, it will be 10,000 points per month.
While it is mathematically similar, such a change greatly limits the practical use of the card. Right now, you could buy 6 sets of iPhone 15 Pro Max at S$1,999 each without busting the 120,000-point annual limit.
From November 2023, even a single S$1,999 iPhone will severely exceed the 10,000-point cap lowering your effective earn rate.
| Purchase | Bonus Cap | Earned Points | Earn Rate |
| S$2,000 | 120,000 bonus points annually (Current) | 20,000 points (2,000 base points + 18,000 bonus points) | 10 points per dollar (4 miles per dollar or 2.78% cashback) |
| S$2,000 | 10,000 bonus points monthly (1st November 2023 onwards) | 12,000 points (2,000 base points + 10,000 bonus points) | 6 points per dollar (2.4 miles per dollar or 1.67% cashback) |
May be worth doing your transactions now
If you have any big-ticket items to buy in the near-future, you only have October left to make sizeable transactions and get 10X points on them. OCBC Titanium Rewards comes in blue and pink versions each with their own cap. That means you can actually spend S$13,330 on the blue one and another S$13,330 on the pink one to max out the bonus points, assuming you can do so within this month.
Addition of pharmacies and… TikTok Shop
It wouldn’t be a revision without a few small improvements that do little to offset the reduction in benefits, and this revision sees Guardian, NTUC Unity, and Watsons added to the list of eligible merchants for 10X points.
A sign of the times, TikTok Shop is also added. I don’t sell things there, but you can certainly still watch my TikTok videos.
Also added are these MCCs:
- MCC 5309 (Duty Free Stores)
- MCC 5655 (Sports and Riding Apparel Stores)
- MCC 5941 (Sporting Goods Stores)
- MCC 5948 (Luggage or Leather Goods Stores)
But given how easy it is to just use a card like UOB Preferred Platinum Visa or HSBC Revolution to get 4 miles per dollar practically anywhere, these new merchants do very little in making the OCBC Titanium Rewards more attractive after this revision.
Alternatives?
This nerf mainly affects people who are buying electronics and/or have big expenses to pay for. You can check out other cards good for such transactions in the following:
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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