Targeted: OCBC 2% cashback on foreign currency spend

Opportunity to earn some cashback with your miles.

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.

Aaron Wong
Aaron Wong
Aaron founded The Milelion to help people travel better for less and impress chiobu. He was 50% successful.

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Louis Tan

Don’t remember if this has already come up on ML (I think I saw it mentioned on HWZ), but here’re two other (targeted?) OCBC offers I’ve seen:

1) 3x VM for overseas spend on Voyage for December
2) 15x earn for overseas shopping on Titanium Rewards (also, 5x on local/overseas dining) for December

I didn’t receive the cash back offer, though. Sad!



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