Yet another year has passed without you winning anything at the Sheng Siong Show, or《缤纷万千在昇菘》as many of us know it as. To increase your chances of winning, you probably need to shop more at Sheng Siong. Thankfully, Sheng Siong and the Bank of China (BOC) has made it easier to save, even if our chances of winning in the show are extraordinarily slim.
Enter the BOC Sheng Siong Card, a co-branded grocery credit card launched by BOC in partnership with Sheng Siong in July 2017. About time, we say. All the other major supermarkets have their own co-brand cards in the form of the OCBC Plus! Visa Card and UOB Delight Card.
If you have been procrastinating and haven’t got this card, even though you frequently shop at Sheng Siong, we urge you to finish this review and take some action, pronto!
7% cashback with no minimum spend – as amazing and as rare as the Northern Lights
If you’ve read a few of our credit card reviews, you’ll know that we love to help you call out the terms attached to the benefits. That’s why the BOC Sheng Siong Card really blows our mind. Get this, you will get 7% cash rebate on transactions made at Sheng Siong without any minimum spend. You can buy only a can of soya bean in the month and still get 7% rebate. That’s unbelievable but true.
Yes, there is a cap on the cash rebate. It’s S$70, which is still really high when you compare among other cards.
You are also eligible for an additional cash rebate of 5% at Sheng Siong, capped at S$20, when you rake up out-of-store spends worth S$400 in a month. So altogether, you can get up to 12% cash rebate on grocery shopping at Sheng Siong by using this credit card.
Only Bank of China can do this. Their BOC Family card is just as awesome. But that’s a story for another time.
Other perks you can enjoy with the BOC Sheng Siong Card
The BOC Sheng Siong Card doesn’t have that many secondary features, but the features that are included do make sense.
- You get a cash rebate of 5% on Grab, and taxi rides throughout Singapore. For every billing cycle, the cash rebate cap is S$20. You are entitled to this cash rebate if you accumulate a retail spend worth of S$400.
- On any overseas transactions you make, you get 1% cash rebate. What makes it more interesting is that a minimum spend is not required. Also, there is no cap on the cash rebate you earn.
- On other miscellaneous purchases, you get 0.3% cash rebate. Again, there is no cap or minimum spend requirement.
A simple illustration to understand how cash rebate functions
Let’s see how you’ll earn cash rebates through an illustration:
|Type of Spend||Cash Spent||Cash Rebate||Earned Cash Rebate|
|Spend at Sheng Siong||S$500||7%||S$35 (capped at S$70)|
|All other expenses (minimum of S$400)
Dining, online, petrol, personal care shopping, etc.
|S$450||Extra 5% on Sheng Siong purchases||Capped at S$20 (for Sheng Siong spend above)|
|Transport: Uber, Grab and other taxi rides in Singapore||S$300||5%||S$15 (capped at S$20)|
The bulk of the cash rebates comes from the Sheng Siong spend and the Grab/Uber spends. Using the BOC card for out-of-store expenditure only makes sense if you keep your spend just over S$400. From the illustration above, our effective cash rebate is around 5.3% in total. If your spends outside Sheng Siong or overseas purchases increase, your effective cash rebate starts to fall even more.
Here is the final verdict
If you are a Sheng Siong loyalist, then the BOC Sheng Siong Card is definitely the right card for you. Considering the fact that it offers cash rebate on transport and overseas spends as well, you can surely make use of this credit card beyond your grocery spends.
However, if you are looking for cashback on general grocery spends, you might want to consider the BOC Family Card or Citi Cash Back Card instead.
Click here to find out which other cashback cards are great for grocery shopping in Singapore.