Can’t decide if you spend more on apparels or electronics? Or are you a shopaholic in general? Did you just visit Lazada, ezbuy, ASOS, Zalora or Taobao in the last 24 hours? Or maybe you were one of the lucky few who managed to get into the Our Second Nature’s clothing launch before everything was sold out?
Well, if you’re winning at the shopping game, I hope you’re also winning when it comes to using the best shopping credit card for your lifestyle. Today, we analyse and review the OCBC Titanium Rewards Credit Card and find out if it deserves a slot in our wallet.
OCBC Titanium Rewards Card review – the perfect shopping card to earn miles
Who is the OCBC Titanium Rewards Card for?
- People who love keeping up with the latest trends whether it comes to fashion or gadgets
- Couples who have gotten their keys to their new home and are planning to buy a lot of appliances and white goods from stores like Courts, Best Denki, or Harvey Norman, or online department stores like Lazada, ezbuy, and Taobao.
- Someone who loves the Citi Rewards Card but is looking for a similar card with the ability to buy big-ticket items or a second shopping card because Citi’s 10,000 monthly cap on 10X points is too limiting.
Benefits of the OCBC Titanium Rewards Card
Whether you shop online or offline, in Singapore or overseas, this is what you will earn for every S$1 spent on the OCBC Titanium Rewards Card:
- Shopping for clothes, bags and shoes – 10X OCBC$
- Purchases at department stores – 10X OCBC$
- Shopping for electronics and gadgets – 10X OCBC$
- Buying babies and kids wear – 10X OCBC$
- All other retail purchases – 1X OCBC$
What are the caps and terms you need to know about the OCBC Titanium Rewards Card
The maximum OCBC$ that you can earn per credit card anniversary year is 120,000 OCBC$ on the principal as well as supplementary cards. But if you have accumulated 120,000 OCBC$ before the next anniversary year, then you will continue earning 1X OCBC$ for every S$1 you spend on your card. You will start earning 10X OCBC$ again when the next anniversary year commences.
For every S$1 that you spend on eligible transactions on this card, OCBC will credit your account with 1 OCBC$. The balance 9 OCBC$ will be credited by the end of the following calendar month.
Tip: The OCBC Titanium Rewards Card comes in Blue and Pink. If the 120,000 OCBC$ cap is too little, you can apply for the credit card in another colour to increase your cap by another 120,000 OCBC$.
How could this cap of 120,000 OCBC$ affect your spending and how you earn OCBC$?
Here’s an illustration of how many OCBC$ you can earn on a monthly basis depending on your spending:
|Monthly spend categories/OCBC$ earned||Monthly spend amount||OCBC$ earned|
|Clothes, bags and shoes||S$300||3,000|
|Electronics and gadgets||S$500||5,000|
|Babies and kids wear||S$250||2,500|
|Total spends/OCBC$ earned||S$1,050||10,500|
If your monthly spends look anything like the above illustration, then you should ideally earn 126,000 OCBC$ every year. However, since there is a cap of 120,000 on the 10X OCBC$ earned, you will earn 1X OCBC$ instead of 10X OCBC$ on eligible purchases made in the last few weeks of the year. Your total OCBC$ earned will be 120,600 based on this scenario.
Solution? Monitor your spending regularly and try not to use the OCBC Titanium Rewards Card when you’re nearing your limit. Defer big purchases to the new anniversary year instead.
What you can do with your OCBC$
You can accumulate your OCBC$ and redeem them for an array of products and services on the OCBC catalogue. Here is how you can spend your OCBC$:
|S$175||1,750 OCBC$||S$5 Zara bill offset||2.85%|
|S$350||3,500 OCBC$||S$10 Robinsons voucher||2.85%|
|S$700||7,000 OCBC$||S$20 NTUC Fairprice voucher||2.85%|
|S$1,050||10,500 OCBC$||S$30 Esso Synergy voucher||2.85%|
|S$1,800||18,000 OCBC$||S$50 Titanium Cash||2.77%|
|S$2,500||25,000 OCBC$||10,000 KrisFlyer miles||8%, assuming value of $0.02/mile.|
View full catalogue of OCBC rewards here.
Honestly, 10X OCBC$ is good but only if you are using the points to redeem for miles. Redeeming it for vouchers will give you less than 3% value back. In that case, you’re better off using a cashback card cleverly for better returns on your spending.
Benefits above and beyond points
Some of us consider online shopping daunting because of safety issues, delivery issues, defective products and so on. But as this card encourages cardholders to shop online and offline, it offers e-commerce protection on online purchases. This will shield you from inconveniences pertaining to defective product deliveries and non-delivery.
If you love movies, you’ll want to try the Cathay Cineplexes offers. You will get movie tickets and popcorn combo sets at discounted prices for the rest of the year.
Travelling abroad and stuck with a plane delay? Make your wait more comfortable by using your exclusive Lounge Key access that comes with the OCBC Titanium Rewards Card. You will have access to over 800 lounges across the world at just US$27 per visit. You can be seated far more comfortably while enjoying your complimentary refreshments.
OCBC Titanium Rewards Card vs Citi Rewards Card
Long before the OCBC Titanium Rewards Card came out, we had the Citi Rewards Card. The benefits are similar, and obviously, OCBC launched this card as a direct competitor. Let’s do a simple comparison so you know if the OCBC Titanium Rewards Card is for you.
|Perks||OCBC Titanium Rewards Card||Citi Rewards Card|
|10X Rewards on local and overseas and online and offline shopping||Yes (clothes, shoes and bags)||Yes (clothes, shoes and bags)|
|10X Rewards on shopping at department stores||Yes||Yes|
|10X Rewards on electronics and gadget shopping||Yes||No, unless it’s bought from a department store|
|10X Rewards on baby and children clothes||Yes||Yes (most likely counted as clothes, shoes and bags)|
|Ability to convert reward points into air miles||Yes||Yes|
|120,000 yearly cap on reward points||Yes||Monthly cap of 10,000 points|
The OCBC Titanium Rewards Card has an edge when it comes to electronics and appliances and cap on points
Now, the offerings on both these cards almost make them look like twins with a few minute differences. The OCBC Titanium Rewards Card offers you 10X OCBC$ on electronics and gadgets purchases. This is a huge opportunity to earn more points. This is simply because electronics and gadgets are often heavy purchases, and more spending = more points.
Furthermore, the OCBC Titanium Rewards Card caps your points per anniversary year. So if you decide to buy a $12,000 Hermès birkin, you can use your OCBC Titanium Rewards Card. The Citi Rewards Card recently changed the 10X cap to 10,000 points monthly, hence anything above S$1,000 a month won’t earn you 10X points.
But the Citi Rewards Card allows you to accumulate your points for a longer time
An advantage the Citi Rewards Card has over the OCBC card is that the Citi Rewards Points are valid for 5 years whereas OCBC$ are only valid for 2 years. And why is this so important you wonder? Because every time you redeem your points for miles, you have to pay a conversion fee of S$25. So naturally, you want to accumulate more miles before you redeem them.
Additional Reading: How to Save Money on Gadgets in Singapore
BankBazaar’s final thoughts
Although the OCBC Titanium Rewards Card and the Citi Rewards Card offer similar benefits on purchases, the OCBC card still stands slightly on top. With the OCBC card, you can get 10X points on electronics, and there’s no problem using the card for big-ticket purchases.
Another big draw for us is the ability for us to get more interest in our OCBC 360 account when you spend on your OCBC credit cards.
So all in all, OCBC Titanium Rewards Card is a great card. The annual fee of S$192.60 is waived for the first 2 years, so go for it!
|OCBC Titanium Rewards Credit Card Benefits and Features||Details|
|Annual Fee||Principal card: S$192.60 (2 years waiver)
Supplementary card: S$96.30 (2 years waiver)
Subsequent years waived with an annual spend of S$10,000, otherwise, you need to request for a waiver.
|Effective interest rate||25.92% p.a|
|Eligibility||21 years old and above
Annual income requirement: