OCBC is doubling the cashback rate on groceries and land transport for its OCBC 365 Credit Card to 6% from 1 November 2026, and folding the card’s two spending tiers into one. Cardholders who spend at least S$800 in a calendar month will earn 6% on dining, groceries, transport and petrol, with cashback capped at S$160 a month.
The revised programme covers all OCBC 365 cardmembers from 1 November. Until 31 October, the card keeps its two tiers: S$800 of monthly spend unlocks a S$80 cashback cap, and S$1,600 unlocks the S$160 cap.
What changes from 1 November
Under OCBC’s revised cashback terms, dining rises from 5% to 6%, and the dining category widens to include fast-food restaurants. Groceries and land transport double from 3% to 6%. Petrol stays at 6%.
Telco, utilities, EV charging and streaming spend drops from 3% to the base rate of 0.25%. Watsons purchases keep earning 3% until 31 March 2027, then fall to 0.25% from 1 April 2027. Eligible advertising platform spend still earns up to 1%, with no cap and no minimum spend. Months below S$800 earn the base 0.25% on eligible transactions.
Which transactions count
Categories follow merchant category codes. Dining covers caterers, restaurants and fast-food outlets (MCCs 5811, 5812 and 5814), including food delivery apps and cafes, while hotel dining and wedding banquets outside those codes are excluded. Groceries covers supermarkets and grocery delivery under MCC 5411. Land transport includes SimplyGo public transport payments, ride-hailing and taxis, but not EZ-Link or Transit Link top-ups. Petrol covers service stations and automated fuel dispensers, excluding fleet card top-ups.
Cashback follows the posting date, not the transaction date, so a purchase made in late October but posted on or after 1 November earns the new rates. Cashback reaches the principal cardmember’s account by the end of the following calendar month. S$500 on dining and S$300 on groceries posted in November earns S$48, credited by 31 December 2026.
The 6% rate also applies to overseas dining, groceries, petrol and transport. By OCBC’s figures, almost one in four overseas transactions on the card is made in Malaysia.
Fees, eligibility and the 360 link
The principal card’s annual fee is S$196.20 including GST and the supplementary card’s is S$98.10, both waived for the first two years. Singaporeans and PRs aged 21 to 55 need an annual income of at least S$30,000, those above 55 need S$15,000, and foreigners need S$45,000.
OCBC 360 Account customers who spend at least S$500 a month on the card earn bonus interest on the first S$100,000 of their balances. New cardmembers who spend S$800 within 60 days of approval get a S$300 cashback welcome gift, open until 31 December 2026.
By OCBC’s count, three in five of its credit cardholders hold the 365 card, and they make more than 25 transactions a month on it on average.
