The OCBC Titanium Rewards Card had a wretched 2023 which saw Courts and IKEA, as well as generic electronics and computers stores, removed from its bonus list. As if that wasn’t bad enough, the annual 4 mpd cap was also converted to a monthly one, making it a lot less useful for big ticket purchases.
I ended up cancelling my card (and am currently living an OCBC-less existence), but if you kept the faith, here’s a new promotion to take note of: OCBC has launched a new quarterly 6 mpd offer with selected merchants, the first two being TANGS and SHEIN.
OCBC Titanium Rewards 6 mpd promo
From 1 January to 31 March 2024, OCBC Titanium Rewards Cardholders can earn 6 mpd for transactions made at TANGS or SHEIN which fall under the following MCCs:
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While all SHEIN transactions should fall under the abovementioned MCCs, take care when shopping at TANGS basement, as the F&B merchants there probably won’t.
The 6 mpd earn rate is split into the following components:
| Component | Monthly Cap (OCBC$) |
Monthly Cap (S$) |
| Base: 5 OCBC$ per S$5 (0.4 mpd) |
N/A | N/A |
| Regular Bonus: 45 OCBC$ per S$5 (3.6 mpd) |
10,000 OCBC$ | S$1,110^ |
| Special Bonus: 25 OCBC$ per S$5 (2 mpd) |
5,000 OCBC$ | S$1,000 |
| *Really S$1,111, but remember that OCBC only awards points in blocks of S$5 |
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The maximum bonus you can earn at TANGS and SHEIN is capped at S$1,000 per calendar month; any spend above this will earn the usual 4 mpd (up till S$1,110).
Both principal and supplementary cardholder spend will be aggregated when awarding the bonus OCBC$, but supplementary cards do not have their own cap.
The OCBC Titanium Rewards Blue and Pink Cards are treated as separate products, so each principal card will have its own bonus cap.
When will bonus miles be credited?
The additional 25 OCBC$ per S$5 will be credited by the end of the next calendar month, following the relevant transaction posting date.
This is the same timeframe for the posting of the additional 45 OCBC$ per S$5 that is part of the card’s evergreen features.
Clawback clause?
One interesting thing I spotted in the T&Cs was a clawback clause. These are quite common for welcome offers, but you very rarely see them applied to offers for existing cardholders.
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13. OCBC Bank reserves the right to claw-back and deduct from any of the Eligible Customerโs accounts with OCBC Bank the equivalent value of the Gift if the Eligible Customer closes his/her Card account during, or within six (6) months from the end of, the Promotion Period. If any Eligible Customer is subsequently discovered to be ineligible to participate in the Promotion or to receive the Gift, OCBC Bank reserves the right to: (i) forfeit or withdraw the Gift at any time; or (ii) (where the Gift has been redeemed) claw-back the Gift or request the relevant customer to repay to or compensate OCBC Bank the value of the Gift at any time, and OCBC Bank shall have the right to debit the value of the Gift plus any goods and services tax or such other amount as it deems fit from the account(s) of the customer. No person shall be entitled to any payment or compensation from OCBC Bank should any Gift be forfeited or withdrawn, if any Gift is reclaimed by OCBC Bank, or if a customer is asked to repay to or compensate OCBC Bank the value of the Gift for whatsoever reasons. |
Here’s the thing: I don’t know if this is just a lazy copy paste job, or whether OCBC really means that any cardholder who cancels his/her Titanium Rewards Card within six months from 31 March 2024 is liable to pay back OCBC for the extra 2 mpd.
If it’s the latter, then this is quite the gotcha because the promotion basically keeps you locked into the card.
Terms and Conditions
The T&Cs of this promotion can be found here.
More to come…
OCBC is positioning this as a quarterly promotion, with new merchants rotated every three months:
Earn 15 OCBC$ for every S$1 spent at selected popular retailers (new ones every three months!)
It remains to be seen just who they have in store, but assuming this runs for the whole of 2024, you’re looking at an extra 60,000 bonus OCBC$ per year (24,000 miles). That means the OCBC Titanium Rewards Card would earn up to a total of 180,000 bonus OCBC$ per year (72,000 miles).
It sounds impressive, but the catch is that the cap only relevant if you can regularly max out spend at the two selected merchants for each quarter. If you don’t normally spend at TANGS or SHEIN, for instance, then it’s more theoretical than anything else.
Overview: OCBC Titanium Rewards Card
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| Apply | |||
| Income Req. | S$30,000 p.a. | Points Validity | 2 years |
| Annual Fee | S$196.20 (2 Years Free) |
Min. Transfer (KF) |
25,000 OCBC$ (10,000 miles) |
| Miles with Annual Fee |
None | Transfer Partners |
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| FCY Fee | 3.25% | Transfer Fee | S$25 |
| Local Earn | 0.4 mpd | Points Pool? | Yes |
| FCY Earn | 0.4 mpd | Lounge Access? | No |
| Special Earn | 4 mpd on online and offline shopping | Airport Limo? | No |
| Cardholder Terms and Conditions | |||
The OCBC Titanium Rewards Card has a minimum income requirement of S$30,000 p.a. and offers a two-year waiver of its S$196.20 annual fee.
Cardholders can earn 4 mpd on selected online and offline shopping, capped at S$1,110 per calendar month (both the Blue and Pink versions of the card have their own cap).
| ๐ณ OCBC Titanium Rewards Bonus Whitelist | |
| MCC | Examples (non-exhaustive) |
| MCC 5309 Duty Free Stores | Lotte Duty Free, King Power Duty Free, The Shilla Duty Free |
| MCC 5311 Departmental Stores | Takashimaya, TANGS, Isetan, OG, Metro, BHG, Marks & Spencer |
| MCC 5611 Menโs and Boysโ Clothing and Accessories Stores | Benjamin Barker, Timberland, Edit Suits, Berluti |
| MCC 5621 Womenโs Ready to Wear Stores | Zara, H&M, Mothercare |
| MCC 5631 Womenโs Accessory and Speciality Stores | Tory Burch, Love Bonito, Pandora |
| MCC 5641 Childrenโs and Infantsโ Wear Stores | Kiddy Palace, Mummys Market, Pupsik, Motherswork |
| MCC 5651 Family Clothing Stores | Uniqlo, ASOS, Club 21, Burberry, Yoox |
| MCC 5655 Sports and Riding Apparel | Nike, Lululemon, Adidas |
| MCC 5661 Shoe Stores | Skechers, Charles & Keith, Bata, Foot Locker, Pazzion |
| MCC 5691 Menโs and Womenโs Clothing Stores | Ezbuy, Zalora, Fartech |
| MCC 5699 Miscellaneous Apparel and Accessory Shops | Qoo10, Cotton On, Reebonz |
| MCC 5941 Sporting Goods Stores | Decathlon, Fila, New Balance |
| MCC 5948 Luggage or Leather Goods Stores | Louis Vuitton, Coach, Rimowa |
| ๐ Specified Merchants | |
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| ^Amazon and Mustafa Centre transactions under MCC 5411 are not eligible to earn any OCBC$ *Shopee Pay transactions under MCC 5262 are not eligible to earn any OCBC$ |
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That said, it’s hard to think of something it does that other rewards cards, such as the Citi Rewards, HSBC Revolution or UOB Lady’s Card, can’t do better. Therefore, I’d only advise you to get the OCBC Titanium Rewards if you regularly max out the bonuses on those other cards.
For a full review, refer to the post below:
Conclusion
OCBC Titanium Rewards Cardholders can now earn 6 mpd at TANGS and SHEIN till 31 March 2024, capped at S$1,000 each calendar month.
It’s a much-needed win for the card, following its less-than-impressive 2023, though obviously there’s little benefit if these two places don’t feature much on your shopping list.
OCBC is promising new merchants to come every quarter, with an extra bonus cap of 24,000 miles per year on top of the existing 48,000 miles.
I’m also currently not holding any ocbc cards. Don’t even bother anymore since the lump sum nerf.
Thanks Aaron, great news for those of us holding on to it for the OCBC 360 savings account!
Donโt fully comprehend this part though: โโฆearn 6 mpd for transactions made at TANGS โฆ which fall under the following MCCsโ . The basement F&B prob have their own POS systems, but wouldnโt all cashiers within Tangs code the same ie MCC for Department Stores?
May not be the case. Might be similar to taka – some MCCs may differ by nature of sections/biz – basement may be tagged as dining?
will we still get the bonus miles if we buy from TANGS online via Heymax to get an additional 1.5 mpd from Heymanx?
Hey Ram, Long Yin here. Full disclosure: I work at heymax ๐
While we can’t guarantee the bonus miles from OCBC, I had a read through the promotion T&Cs and don’t see any clause or reason for them to exclude purchases via heymax. So I would assume that you’d get both!