BOC Sheng Siong Card: Great Rebates for Sheng Siong Loyalists
BOC Sheng Siong Card: Great Rebates for Sheng Siong Loyalists
ValueChampion Rating 
Pros
- Up to 6% cashback on purchases at Sheng Siong
- Unlimited 1.5% cashback on all other spend
- Low annual fee of S$32.10, waived in first year
Cons
- Highest cashback capped at S$45 & only applies to Sheng Siong
- Rules for rewards are slightly complicated
- No extra perks or benefits
Bank of China Sheng Siong Card is a great choice for larger households who can earn 6% cashback at purchases made at Sheng Siong supermarkets. Customers can also earn uncapped 1.5% cashback on all other local and overseas spend.
Bank of China Sheng Siong Card Features and Benefits
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Key Features:
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What Makes the BOC Sheng Siong Card Stand Out?
BOC Sheng Siong Card is of great value for larger households who spend a substantial amount of money on groceries at Sheng Siong. This card offers 6% cashback on all Sheng Siong spend, capped at S$45 per month. There is also unlimited 1.5% cashback on all other out-store spend. Out-store spend can be any local or foreign retail transactions, which means you are not only limited to Singapore spend. This may be of most use to those whose overseas expenses are on the higher end, likely for a family. Given that the card's annual fee is only S$32.10 (including a first year annual fee waiver), which is already one of the lowest fees on the market, the value it can bring to frequent Sheng Siong shoppers far outweighs any costs it incurs.
Cashback Not Available On...
There are certain transactions which do not qualify for cashback. These are:
- Card annual fees, interest and finance charges
- Goods and services taxes
- Cash advances and fund transfers
- Purchases made through Installment Payment Plans
- Utility bill payments
- All fees charged by BOC
How Does BOC Sheng Siong Credit Card Compare to Other Options?
In order to help you understand the BOC Sheng Siong Credit Card's value in the context of your other choices, we've provided a head-to-head analysis comparing it to several other popular credit cards below.
BOC Sheng Siong Credit Card v. Citi SMRT Card
- Pros
- Good rewards rates for modest budgets
- SMRT$ rewards on EZ-Reload transactions
- Cons
- Not suitable for higher budgets
- Lacks travel and overseas rewards
Citi SMRT Card is a great fit for young professionals or those on a budget looking for cashback on daily spend. This card offers 5% cashback on coffee, groceries, fast food and cinemas, 3% on online shopping and 2% on select health and beauty merchants. The downside is that monthly spend is capped at S$50 per month, and for a budget-friendly card, annual fee of S$192.60 is quite high.
Both BOC Sheng Siong and Citi SMRT cards offer cashback on groceries limited to one merchant, the former offering up to 6% at Sheng Siong and the latter offering 7.3% at FairPrice. With a much lower annual fee (S$32.10), the BOC Sheng Siong card is a better fit for bigger households who spend a substantial amount on groceries and travel. Citi SMRT is a better fit for those on a budget looking for rebates on everyday spend. This card even lets you earn cashback on spend below S$300.
BOC Sheng Siong Credit Card v. CIMB Visa Signature Card
- Pros
- Rewards online shopping, groceries and beauty spend
- Rewards pet spend and cruises
- No annual fee credit card
- Cons
- Lacks discounts on transport & petrol
- Speciliazed spend
- Doesn't fit frequent travellers
CIMB Visa Signature Credit Card is a great option if you are looking for a more versatile card that can earn cashback on various categories. With a minimum monthly spend of S$800, you can earn 10% cashback on online shopping, groceries, beauty and wellness, pet shops and cruises. In addition, this card has no annual fee for life.
While BOC Sheng Siong Card offers an attractive cashback rate on Sheng Siong perchases, it doesn't offer cashback on any other category making it more limiting, and its cashback cap is lower than that of CIMB Visa Signature card (S$100 vs S$45). The main advantage of this card is that it offers unlimited 1.5% cash back on all other spend, including overseas retail purchases. If you are looking for rebates on groceries and tend to frequently travel, then BOC Sheng Siong is a better fit for you, but if your budget is mostly local and you tend to spend on shopping, beauty and pet supplies, then CIMB Visa Signature is the way to go.
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Zoryana is a Senior Research Analyst at ValueChampion, who focuses on evaluating credit cards, savings and fixed deposits in Singapore. She holds a BA in Political Science and an MPA in International Finance and Economic Policy, both from Columbia University. Prior to joining ValueChampion, Zoryana worked in treasury management consulting.