OCBC 365 Credit Card Review

Offering up to 6% cashback on things like petrol, dining, utilities and other categories, OCBC 365 is the bank’s flagship cashback card. Given the bank’s stature (and marketing over the years), I believe that the card is also one of the more popular cashback cards in Singapore.

Is the OCBC 365, however, the card of choice if you want to earn more cashback?

Pretty weak rates for S$800 minimum spend

For a card that requires at least S$800 of spend within the month, the OCBC 365 gives a relatively mediocre rate. Aside from the Petrol and Dining categories, the card offers 3% cashback for most of its categories.

Category	Cashback Rate
⛽️ Petrol	6%
🍽️ Dining	5%
🛒 Groceries 🚕 Transport 💊 Watsons 📲 Streaming ⚡️ Electric Vehicle Charging 💡 Telco and Utilities	3%
🌐 Selected Advertising Platforms	0.5% for instalments 1% for full payment

With cards like Maybank Family & Friends and Citi Cash Back offering 6% to 8% on groceries, dining, and transport, OCBC 365’s 3% earn rate for most of its categories is simply not competitive. This is especially so when all 3 cards require the same S$800 minimum spend per month

S$800 or S$1,600 min. spend with no category caps

While the monthly minimum spend to unlock the card’s higher cashback rate is S$800, the card offers a second tier for bigger spenders if the S$80 cashback cap is not sufficient. Upon reaching the S$1,600 spend amount, the cashback cap is also increased to S$160.

Monthly Minimum Spend	Monthly Cashback Cap
S$800	S$80
S$1,600	S$160

Fortunately, there are no category caps, so cardholders can spend all S$800 or S$1,600 in a single category if they wish.

5% on dining and food delivery, but 5814 is not included

When it comes to dining MCCs, there are a few important ones to take note of:

MCC	Description	Rarity*
5811	Caterers	Rare
5812	Eating Places and Restaurants	Very common
5813	Bars, Cocktail Lounges, Discotheques, Nightclubs and Taverns–Drinking Places	More for bars
5814	Fast Food Restaurants	Very common
5499	Miscellaneous Food Stores	Not common

OCBC 365, unfortunately, only covers 5811 and 5812. This leaves out the very important 5814 which covers not just fast food restaurants, but also various other eateries and even restaurants that are coded as 5814.

This omission makes the card a lot less reliable for dining, and cardholders would need to be diligent on checking MCCs if they want to use this card for meals. It’s certainly not the only card that does this, though at 5% cashback it does come a little lower than what other cards can offer.

Although 5814 is not supported, food delivery apps foodpanda, GrabFood, and Deliveroo (RIP) are specifically included under the 5% cashback earn rate.

No shopping category

One of the bigger flaws of OCBC 365 is the lack of a shopping category. As a card advertised to be for one’s everyday expenses, not having a category for things like Shopee purchases and other online shopping is rather disappointing.

Then again, even if OCBC 365 does include a shopping category, a weak 3% cashback rate just isn’t going to cut it. To put things into perspective, the card’s own sibling, OCBC Rewards – a card primarily used for miles – can offer 4.17% cashback on certain online shopping portals.

3% on recurring telco and electricity bills

On a brighter note, OCBC 365 is one of the rare few cards that give rewards on electricity bills. Though the bank specifies a few examples like SP Power and Geneco on its website, any electricity company would work, as long as the bill payment is made on a recurring basis.

3% cashback on telco bills, however, is a lot less exciting. This rate is significantly lower than what other cards offer, and it also requires the bill to be put on a recurring basis, taking away the flexibility of making ad-hoc payments.

0.5% or 1% cashback on selected advertising platforms

A new addition to the card, selected advertising platforms now get up to 1% on OCBC 365 with no minimum spend nor cashback cap. These include:

• 99.co
• EdgeProp
• PropertyGuru
• StreetSine
• Facebook and Meta (transactions made under MCC 7311 – Advertising Services)

1% cashback is given for full payment transactions and again, the same criticism applies – this is not a particularly enticing rate given that many general spend cards would offer higher rewards (as long as MCC 7311 isn’t excluded).

What could be more interesting is that the card also offers 0.5% cashback for such payments made on an instalment basis. This could prove useful for those who make payment on such platforms and opt for instalment plans to improve their cashflow.

Works with OCBC 360 Account

OCBC 365 is one of 5 cards that unlocks bonus interest for the OCBC 360 Account. Depending on your balance amount with the account, this can be seen as additional “cashback” on your spend.

Unfortunately, the bonus interest from the Spend category now stands at just 0.25% p.a. since 1st May 2026. That is S$2.08 for every S$10,000, capped at the first S$100,000 balance.

At least S$500 of spend is required, which is met anyway when one meets the monthly minimum spend amount for OCBC 365.

Sign-up Promo

The Verdict

In its current form, OCBC 365 is a pretty lacklustre card. With a weak earn rate of just 3% cashback for many of its categories, it simply isn’t good enough to use over other better cashback cards.

Those who prefer cashback and are using the OCBC 360 Account may find this card the best option of the 5 they can pick with OCBC, but with the bonus interest now as low as 0.25% p.a., I wouldn’t be surprised that picking a better card outside of OCBC’s ecosystem can generate more cashback than the additional interest given.

The card does have a few good things going for it, like having no category caps and 3% cashback for utilities which is a decent rate considering how it’s an oft-excluded category, but I’m not sure these are enough to rescue the card.

Subscribe for more deals and updates!

If you’re someone who wants to earn more from credit cards, savings accounts and other financial deals, stay subscribed to the Telegram or WhatsApp so you can be notified of news and deals. Remember to unmute and turn on notifications or the updates may not reach you.

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.

Subscribe to the channel for free updates!

Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!

Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).