POSB Everyday vs. OCBC 365 Credit Card Comparison 2024

Table of Contents: POSB Everyday Card vs. OCBC 365 Card

• Summary: POSB Everyday Card vs. OCBC 365 Card
• Comparison of Rewards Rates

• Details of rebate system & structure
• General & boosted cashback rates
• Minimum spend requirements & monthly rewards caps
• Maximum potential annual earnings

Comparison of Perks & Privileges

• Travel insurance offerings
• Current petrol promotions & savings
• SimplyGo & mobile pay compatibility
• Extra rebate programmes & card-specific privileges

Comparison of Fees & Requirements

• Minimum age & minimum income requirements
• Annual fees, spend-based waivers & sign-on bonuses
• Foreign transaction fees

• Comparison to Similar Rebate Cards
• Additional Resources

Comparison of Competitive Rebate Cards in Singapore by Dollar Value

Based on an average monthly spend of S$2,000, we analysed some of the most competitive rebate cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

Comparison of Competitive Rebate Cards in Singapore by Estimated 2-Year Dollar Value

Overview	Rewards Rates	Perks & Privileges
Fees & Reqs	Similar Cards	Add'l Resources

• Overview: POSB Everyday v. OCBC 365
• Comparison of Rewards Rates
• Comparison of Perks & Privileges

• Comparison of Fees & Reqs
• Comparison to Similar Cards
• Additional Resources

Table of Contents

• Summary: POSB Everyday vs. OCBC 365
• Comparison of Rewards Rates
• Comparison of Perks & Privileges
• Comparison of Card Fees & Requirements
• Comparison to Similar Rebate Cards
• Additional Resources

Comparison of Competitive Rebate Cards in Singapore by Dollar Value

Based on an average monthly spend of S$2,000, we analysed some of the most competitive rebate cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

Comparison of Competitive Rebate Cards in Singapore by Estimated 2-Year Dollar Value

Overview: POSB Everyday Card vs. OCBC 365 Card

	Apply Now Apply Now	Apply Now Apply Now

POSB Everyday Card and OCBC 365 Card are perhaps the two best-known cards for daily expenses in Singapore. Each of these options, however, is meaningfully different. The first frequently offers higher promotional rates, but comes with a few rebate complications and merchant restrictions; the latter rewards similar spending and offers a fee-waiver, but tends to provide fewer merchant-exclusive deals. We've provided a detailed breakdown of how these two cards actually compare, to help you decide which might be the better option for you.

Summary Comparison Table: POSB Everyday vs. OCBC 365

Rewards Rates: POSB Everyday Card vs. OCBC 365 Card

Both POSB Everyday Card and OCBC 365 Card are worth considering if you're seeking rewards on daily essentials. While both rewarding similar areas of spend, however, each of these options vary in ease-of-use.

POSB Everyday Card stands out by offering competitive rebate rates of up to 10% rebate on online food delivery, catering and more. These high rates are described as promotional on the bank's site, but we've seen them be renewed consistently, so it's safe to view them as long-term benefits. The card's truly permanent rebates typically span 3% to 5% and cover areas such as groceries, online shopping, transportation and utilities.

While attractive, these rates weren't that simple to navigate until recently. To unlock POSB Everyday Card's elevated rates, you must spend at least S$800 per month. This is a welcome change from the card's old system, which calculated a unique Personalised Spend Goal for each cardholder that they would then have to meet.

Additionally, because promotional rates change, POSB Everyday cardholders may have difficulty balancing their spending to truly optimise their rewards. Finally, some rewards are merchant restricted. This may require consumers to pay closer attention to where they're shopping and perhaps even to alter their habits.

Comparison Table: Cashback Rewards

OCBC 365 Card, on the other hand, is fairly easy to use. While there's a S$800 minimum spend requirement, this aligns with market competitors' and is reasonably achievable. Rewarded categories are fairly static and there are no merchant restrictions to track or worry about. Finally, cardholders can fairly easily max out the S$80/month rewards cap with as little as S$1,333 spend. Ultimately, OCBC 365 Card is both competitive and predictable–and therefore, a lower-maintenance pick for most consumers.

Perks & Privileges: POSB Everyday Card vs. OCBC 365 Card

POSB Everyday Card and OCBC 365 vary significantly in terms of perks. The first stands out for its extensive POSB Exclusive Merchant Deals. Given that the card already has several merchant-restricted categories, this special perk ties into the rewards structure almost seamlessly. Consumers have access to savings in 3 different categories, for the most part: utilities (extra rebates on power bills upon sign-up), shopping (fashion and retail promotions with brands like Zalora), and health (anything from check-up discounts to deals on supplements). These savings change every month or so, so it's important to check for expiration dates.

Comparison Table: Card Perks & Privileges

OCBC 365 Card's perks extend beyond deals and discounts. In fact, cardholders receive free travel insurance and privileges like dining credits, complimentary WiFi and room upgrades via the Visa Luxury Hotels programme. These benefits are a great fit for everyday consumers who occasionally travel.

Fees, Promos & Requirements: POSB Everyday vs. OCBC 365 Card

Consumers who want a low-maintenance card may already have come to the conclusion that OCBC 365 Card is a better fit. This is also true when considering fees and requirements. While POSB Everyday Card has a S$192.6 fee, waived just 1 year, OCBC 365 Card's S$192.6 fee is waived for 2 full years and then with just S$10k annual spend. This averages out to about S$833/month, which is roughly equal to the minimum spend requirement to even unlock its upper rates. As a result, someone who is taking full advantage of OCBC 365 Card also won't need to worry about paying its annual fee–perfect for consumers looking for an easy and affordable cashback option.

Comparison Table: Requirements, Promos & Fees

Comparison to Similar Rebate Credit Cards

While POSB Everyday Card and OCBC 365 Card are well-known for their value as everyday cards, there are several alternatives that are also worth considering. We've reviewed them in detail below.

Citi Cash Back Card: Boosted Rebates on Food & Fuel

Apply Now Apply Now	Up to 8% cashback on groceries & petrol, 6% on dining Promotions: Read Our Full Review
Fees, Rewards & Perks Annual fee: S$194.40 (first year- waived) 8% cashback on groceries 6% cashback on dining Up to 20.88% fuel savings at Esso & Shell and 8% cashback at other petrol stations 0.25% cashback on all other purchases Min. monthly spend of S$800 required to earn bonus cashback Cashback capped at S$80/month Analyst's Review If you spend a great deal on food and fuel, consider Citi Cash Back Card. Cardholders who spend at least S$888/month earn 8% rebate on global dining, groceries and petrol. These rates are quite high–even when compared to POSB Everyday and OCBC 365 Card. However, each category is individually capped at S$25/month (maxed out with S$312.5 spend), which may be limiting for those with higher or skewed spending. It's also worth mentioning that Citi Cash Back Card may not be the best option for truly everyday spending. While food & petrol make up a large part of many Singaporean's budgets, cardholders might prefer a more well-rounded option that also rewards transport, personal care and recurring bills. In this case, POSB Everyday Card and OCBC 365 Card may be better options.

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Stand-Out: Up to 8% cashback on groceries & petrol, 6% on dining Promotions: Read Our Full Review
Fees, Rewards & Perks Annual fee: S$194.40 (first year- waived) 8% cashback on groceries 6% cashback on dining Up to 20.88% fuel savings at Esso & Shell and 8% cashback at other petrol stations 0.25% cashback on all other purchases Min. monthly spend of S$800 required to earn bonus cashback Cashback capped at S$80/month
Analyst's Review If you spend a great deal on food and fuel, consider Citi Cash Back Card. Cardholders who spend at least S$888/month earn 8% rebate on global dining, groceries and petrol. These rates are quite high–even when compared to POSB Everyday and OCBC 365 Card. However, each category is individually capped at S$25/month (maxed out with S$312.5 spend), which may be limiting for those with higher or skewed spending. It's also worth mentioning that Citi Cash Back Card may not be the best option for truly everyday spending. While food & petrol make up a large part of many Singaporean's budgets, cardholders might prefer a more well-rounded option that also rewards transport, personal care and recurring bills. In this case, POSB Everyday Card and OCBC 365 Card may be better options.

Maybank Family & Friends Card: Top Rates in SG & MY

Apply Now Foreigners Apply Now Foreigners	Up to S$125/mo with just S$800/mo spend Promotions: Read Our Full Review
Fees, Rewards & Perks Annual fee: S$180 (3 years fee waiver) Up to 8% rebate on 5 preferred categories (dining & food delivery, groceries, retail, petrol discounts & online TV streaming) Up to S$125 cashback per month with S$800 min spend 0.3% rebate all other spend Analyst's Review If you mostly spend in Singapore & Malaysia, Maybank Family & Friends Mastercard may just be the best option for you. Cardholders who spend S$500/month in these countries earn 5% cashback on fast food & online food delivery, groceries, transport, petrol and data communications/online TV streaming–amongst the highest rates available for lower spenders. Even better, consumers who spend S$800/month earn 8% in these categories, up to S$80/month. This cap can be maxed out with just S$1k spend–which qualifies the cardholder for a fee-waiver. After all, the S$180.0 fee is waived 3 years and subsequently with just S$12k annual spend. Maybank Family & Friends Card stands out for both for its accessibility and flexibility. While overseas spend does not earn at heightened rates, local spenders have very little to worry about as there are no merchant restrictions. Nonetheless, individuals who do tend to travel and spend overseas may prefer an alternative everyday card, like OCBC 365. This card rewards both local and overseas spend, while also providing a few attractive travel perks.

Apply Now Foreigners Apply Now Foreigners
Stand-Out: Up to S$125/mo with just S$800/mo spend Promotions: Read Our Full Review
Fees, Rewards & Perks Annual fee: S$180 (3 years fee waiver) Up to 8% rebate on 5 preferred categories (dining & food delivery, groceries, retail, petrol discounts & online TV streaming) Up to S$125 cashback per month with S$800 min spend 0.3% rebate all other spend
Analyst's Review If you mostly spend in Singapore & Malaysia, Maybank Family & Friends Mastercard may just be the best option for you. Cardholders who spend S$500/month in these countries earn 5% cashback on fast food & online food delivery, groceries, transport, petrol and data communications/online TV streaming–amongst the highest rates available for lower spenders. Even better, consumers who spend S$800/month earn 8% in these categories, up to S$80/month. This cap can be maxed out with just S$1k spend–which qualifies the cardholder for a fee-waiver. After all, the S$180.0 fee is waived 3 years and subsequently with just S$12k annual spend. Maybank Family & Friends Card stands out for both for its accessibility and flexibility. While overseas spend does not earn at heightened rates, local spenders have very little to worry about as there are no merchant restrictions. Nonetheless, individuals who do tend to travel and spend overseas may prefer an alternative everyday card, like OCBC 365. This card rewards both local and overseas spend, while also providing a few attractive travel perks.

UOB One Card: Flat Rebate for Stable Spenders

Apply Now Apply Now	Up to 10% rebate on all spend, S$300/quarter Promotions: Read Our Full Review
Fees, Rewards & Perks Annual fee: S$192.60 (first year- waived) 5% rebate on general spend, up to S$200/quarter (S$2,000 min spend) with min 5 transactions/mo Up to 10% on Grab, Shopee, Dairy Farm Singapore & select UOB travel, 1% on utilities bills 3.33% rebate, up to S$100/quarter (S$1,000 min spend) 3.33% rebate, up to S$50/quarter (S$500 min spend) 0.03% rebate on all spend if no rebate earned for calendar year Up to 21.15% savings at Shell and 22.66% at SPC Analyst's Review If you consistently spend about S$2k/month, you may be able to earn more with UOB One Card than with any other option currently on the market. Cardholders earn on a quarterly basis, based on their minimum spend within the 3 months. Those who spend at last S$2k every month earn 5% cashback on all spend, up to S$100/month (S$200/quarter). This is quite remarkable, adding up to a potential S$800 cashback within a year. Even better, there's no need to track categories or merchants, as the 5% rate is applied to all purchases–including recurring bills. UOB One Card is less competitive for lower or variable spenders, however, who will instead earn 3.33% cashback. At this rate, consumers would likely earn more with POSB Everyday Card or OCBC 365 Card, as long as they hit the S$800 minimum. Also, UOB One Card's S$192.6 annual fee is waived just 1 year. Consumers who want to avoid extra costs might prefer OCBC 365 Card.

Apply Now Apply Now
Stand-Out: Up to 10% rebate on all spend, S$300/quarter Promotions: Read Our Full Review
Fees, Rewards & Perks Annual fee: S$192.60 (first year- waived) 5% rebate on general spend, up to S$200/quarter (S$2,000 min spend) with min 5 transactions/mo Up to 10% on Grab, Shopee, Dairy Farm Singapore & select UOB travel, 1% on utilities bills 3.33% rebate, up to S$100/quarter (S$1,000 min spend) 3.33% rebate, up to S$50/quarter (S$500 min spend) 0.03% rebate on all spend if no rebate earned for calendar year Up to 21.15% savings at Shell and 22.66% at SPC
Analyst's Review If you consistently spend about S$2k/month, you may be able to earn more with UOB One Card than with any other option currently on the market. Cardholders earn on a quarterly basis, based on their minimum spend within the 3 months. Those who spend at last S$2k every month earn 5% cashback on all spend, up to S$100/month (S$300/quarter). This is quite remarkable, adding up to a potential S$1.2k cashback within a year. Even better, there's no need to track categories or merchants, as the 5% rate is applied to all purchases–including recurring bills. UOB One Card is less competitive for lower or variable spenders, however, who will instead earn 3.33% cashback. At this rate, consumers would likely earn more with POSB Everyday Card or OCBC 365 Card, as long as they hit the S$800 minimum. Also, UOB One Card's S$192.6 annual fee is waived just 1 year. Consumers who want to avoid extra costs might prefer OCBC 365 Card.

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