Targeted: OCBC 2% cashback on foreign currency spend

If you’re an OCBC cardholder, you might want to be on the lookout for an SMS or eDM for a 2% cashback promotion on your foreign currency spending.

The deal is that you get unlimited 2% cashback on your foreign currency spend above S$600 on selected OCBC cards from 20 November 2017 to 20 Jan 2018. Note that it’s only spend “above” S$600, meaning that if you spend S$700 overseas, you get 2% of 700-600=S$100.

What are selected OCBC cards? There is an inconsistency between the eDM and the T&C. The eDM says that the Titanium Rewards card is excluded, but the T&C make no mention of this.

Point 14 in the T&C says that if there is any discrepancy between the T&C and marketing material, the T&C takes precedence. Therefore my reading is that the Titanium Rewards card is included in this promotion.

[Edit: OCBC has reached out to confirm that the Titanium Rewards card is included in the promotion]

There is no ambiguity about the Voyage card, however, and I reckon that if you hold this card you’d be looking at a pretty good deal if you have a lot of foreign currency expenditure coming up. Although I’m not a fan of the Voyage card for general spending in Singapore (1 VM* per $1), it does earn a decent overseas spending rate (2.3 VMs per $1). Add on the 2% cashback and here’s your new cashback + miles card combination in the wake of the LiveFresh’s demise. Of course there exist better cards for spending overseas (UOB Visa Signature and SCB VI for spend >$2K per month come to mind), but if you’re already holding a Voyage card I don’t see why not.

*Note that because it can be converted to Krisflyer miles at a 1:1 ratio, 1 VM is conceptually worth more than 1 Krisflyer mile. How much more? That’s a whole separate discussion that you can have a read of here. 

Assuming the Titanium Rewards card is eligible under this promotion, you might want to consider putting some spend here too because 10X points + 2% cash rebate on shopping is one of the better deals around now.