BOC Zaobao Credit Card : Earn Both Rebates and BOC Bonus Points

Earn Cashback and Loyalty Points on Local and Overseas Spend
BOC Zaobao Credit Card
BOC Zaobao Credit Card

BOC Zaobao Credit Card : Earn Both Rebates and BOC Bonus Points

Earn Cashback and Loyalty Points on Local and Overseas Spend


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  • Those who make transactions in RMB
  • Those who want to earn both cashback and loyalty points


  • Frequent travellers
  • Those with larger budgets (above S$3,000)
  • Those looking for rebates on groceries
BOC Zaobao Credit Card
BOC Zaobao Credit Card

Unlike most credit cards which tend to offer either cash back or points/miles to reward certain purchases, Bank of China Zaobao Credit Card does both. With a minimum monthly spend of S$400, you can earn 10% cashback on Zaobao and SPH newspaper subscription and 5% on dining transactions. While cashback is capped at S$30 per month, there is also unlimited 1.5% cashback offered on all other retail spend with no minimum spending requirement. In addition, BOC Bonus Points are awarded on local and overseas spend, which can later be used to redeem BOC rewards vouchers.

Bank of China Zaobao Credit Card Features and Benefits

  • Annual Fee: S$203.30, Waived for 2 years
  • Income Requirement: S$30,000 for citizens & PRs, S$60,000 for foreigners
Key Features:
  • Annual fee: S$203.30 (waived for 2 years)
  • 5% on dining
  • 10% cash rebate on Zaobao & SPH newspaper subscriptions
  • Unlimited bonus 1.5% cashback on all retail spend
  • No currency exchange fees for RMB transactions
  • 2 BOC bonus points on S$1 overseas spend and 1 BOC bonus point on S$1 local spend

What Makes the BOC Zaobao Credit Card Stand Out?

BOC Zaobao Credit Card is unique in that it offers its customers the ability to both earn cashback and accumulate bonus points. This card is best suited for those who spend at least S$400 per month, occasionally travel to Mainland China and whose monthly spend includes dining and Zaobao & SPH newspaper subscriptions.

The categories on which you can earn cashback are quite unique. The first group of spend includes Zaobao and SPH newspaper subscriptions with 10% cashback, as well as all dining transactions which you can get up to 5% cashback on. All these categories share one cashback cap of S$30. There is also unlimited 1.5% cashback offered on all local and overseas retail spend, with no minimum spending amount or cap restrictions.

Frequent travelers to Mainland China can enjoy waived currency exchange fees for retail transactions in RMB. An additional perk this card offers is the ability to earn BOC Bonus Points, which are Bank of China's loyalty points, on both local and overseas spend. Customers can earn 2 BOC bonus points for every S$1 spend overseas (excluding RMB transactions) and 1 BOC bonus point for every S$1 local spend. These points can later be used to redeem BOC rewards and vouchers.

Cashback Not Available On...

There are certain transactions which do not qualify for cashback and do not earn BOC Bonus Points. These are:

  • Card annual fees
  • Interest and late payment charges
  • Cash advances
  • Goods and services taxes
  • Payments to government institutions
  • Payments for money transfers
  • Payments for utility bills (SP services)
  • Donations to charity
  • Payments to prepaid accounts (EXLINK, TransitLink)
  • Payments made via AXS and SAM

How Does BOC Zaobao Credit Card Compare to Other Options?

In order to help you understand the BOC Zaobao 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. In case you would like to compare the rewards value of this card or any other card yourself, go to our RealValue Credit Card Rewards Calculator to compare the cards' rewards, promotions, rates and other unique features.

BOC Zaobao Credit Card v. ICBC Horoscope Credit Card

ICBC Horoscope Credit Card
ICBC Horoscope Credit Card
Consider this if you're looking for unlimited cashback on transactions at home and abroad
  • Pros
    • Unlimited cashback with no spend requirement
    • Higher cashback rates abroad and at select retailers
    • Annual fee waived for 3 years
    • Cons
      • Lower cashback rate than cards with caps or spend requirements
      • Higher local rewards only apply to dining and clothing shops
      • S$150 annual fee higher than average

      ICBC Horoscope Credit Card is a good fit for those with higher budgets looking to earn unlimited cashback at home and abroad. With this card you can earn unlimited 3% cashback abroad, 2% at select merchants in Singapore and 1% on all other spend in Singapore. While the rates do sound appealing, if you spend a total of S$2,500 monthly, S$1,500 abroad (at 3% cashback is S$45), and S$1,000 at home (at 2% cashback is S$20), your total cashback will equal S$65, which is just S$5 over the cashback cap with BOC Zaobao Credit Card, with spend below S$2,000.

      BOC Zaobao Credit Card's advantage is that it offers higher rates for more unique categories, making it a good fit for cardholders who have Zaobao and SPH newspaper subscriptions and are looking for a stable cashback rate on dining purchases. BOC Zaobao Credit Card is better suited for consumers whose spend categories are aligned with those of the card and who don't travel often, while the ICBC Horoscope Credit Card is a better fit for those with larger budgets that are mostly spent abroad.

      BOC Zaobao Credit Card v. BOC Family Card

      BOC Family Card
      BOC Family Card
      Consider this if you're looking for rebates on everyday spend
      • Pros
        • 10% rebate on dining & movies
        • 5% w/ "Family Club" marchants
        • 3% on public transport, supermarkets, hospitals bills & online spend
        • Cons
          • Grouped categories capped at S$25/mo
          • Few additional perks or privileges
          • General retail earns just 0.30% cashback

          BOC Family Card is a great option for households and those whose monthly spend is above S$2,400 looking for cashback on everyday spend. This card isn't a good fit for frequent travelers or those looking for cashback on rather uncommon spend categories. With 10% cashback on dining and movies (capped at S$25), 5% on Family Club Merchants (S$25 cap), 3% on public transport (S$25 cap) and 3% on supermarket, online, hospital spend and 0.3% on all other spend (S$25 cap on both), the total monthly spend to reach S$100 has to be S$2,416.

          This is rather similar to the average spend required by BOC Zaobao Credit Card to take advantage of its caps and unlimited bonus rates. The main difference between the two is the categories on which cashback is earned: Family Card is exactly that, it's a card made for families, and Zaobao card is likely better suited for those who spend moderately on dining, have Zaobao newspaper subscriptions and are also likely to travel to Mainland China.

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          Zoryana Melesh

          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.

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