OCBC Cashflo Credit Card: Who Should Consider Getting It

OCBC Cashflo Credit Card: Who Should Consider Getting It

Automatic Transaction Split into Interest-Free Instalments

Good for

  • People who frequently make purchases they cannot immediately afford
  • Consumers looking to avoid the hassle of call-ahead instalment plans
  • Individuals who prefer a no-fee card

Bad for

  • Consumers actively looking to maximise rewards for their spend
  • People who rarely pay for purchases in instalments
  • Individuals interested in longer 24+ month payment plans

Editor's Rating

3.5/5.0

For people who are looking for a credit card with a great 0% interest instalment plan to finance a big expenditure, OCBC Cashflo Credit Card is likely one of your best bets. There are only a few credit cards in Singapore whose 0% instalment plan provides rewards on the payments and still doesn't charge a processing fee. Among them, OCBC Cashflo Card stands out as the only one that provides an annual fee waiver for holding card. In terms of rewards, OCBC Cashflo Card provides up to 1% of rebate on all of your purchases, including those made with the instalment plan.

ProsCons
  • Low annual fee of S$160.5, waived for S$10,000 of annual spend
  • Limited extra benefits like petrol discounts
  • 1% rebate with monthly bill above S$1,000
  • 0.5% rebate with monthly bill below S$1,000
  • One of the best 0% instalment plans in Singapore: no fee and rewards rebate for up to 6 months
Duration of 0% interest of up to 6 months is relatively short compared to other options

What makes the OCBC Cashflo Credit Card Stand Out

OCBC Cashflo Credit Card is an excellent choice for those who need to make a large payment that they can't readily afford. First, it stands out in the market because it provides one of the best 0% interest instalment payment plans in the country. While most 0% instalment plans charge a processing fee, OCBC Cashflo Credit Card doesn't. This means that you can easily spread out your cost, and pay it back gradually over 3 to 6 months. Not only that, it's also one of the few credit cards that actually rewards rebate on all payments made on the card, including those made through the instalment plan. This is a very rare feature that allows its user to earn a relatively large amounts of rebates on big ticket items. In terms of actual rewards, its rebate ranges from 0.5% to 1% depending on how much you are spending on the card.

OCBC Cashflo Card 0% Instalment PlanPayment PeriodRebate
Monthly spend below S$1,0003 months0.5%
Monthly spend above S$1,0006 months1.0%

Last but not least, OCBC Cashflo Credit Card's annual fee is easily waived for anyone who spends $10,000 on the card annually. For those who can't meet this requirement, its annual fee of S$160.5 is still waived for the first 2 years of using this card.

However, one weakness of this card is its relatively low level of rebate. Therefore, it may not be an ideal choice for people who only spend within their means and generally don't carry an unpaid balance on their cards. For these people, there are certainly better credit cards with higher rewards rates. However, people who need to carry an unpaid balance, this card provides the cheapest way to do so since it provides some rebate while costing you almost nothing in terms of annual fee or processing fees for the 0% instalment plan.

OCBC Cashflo Credit Card Benefits & Features

Consider this if you want to earn rebates on your 0% instalment payments

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000
OCBC Cashflo Card Benefits & FeaturesDetails
Annual Fee
  • S$160.5, waived for 2 years & subsequently if you spend at least S$10,000 annually
Annual Income Requirement
  • S$30,000 for locals
  • S$45,000 for foreigners
APR
  • 25.92%
Card Details
  • 1% cash rebate with monthly bill of at least S$1,000
  • 0.5% cash rebate with monthly bill below S$1,000
  • No fee 0% instalment payment plan: earn rewards, pay over 3 months when you spend below S$1,000, over 6 months when you spend above S$1,000

How does OCBC Cashflo Credit Card Compare Against Other Credit Cards?

To help you decide if the OCBC Cashflo Credit Card is the right card for your needs, we've taken the time to compare it to other leading credit cards in Singapore. However, please note that these estimates can vary dramatically depending on the individual's spending pattern.

A graph displaying how OCBC Cashflo Credit Card compares to other credit cards in Singapore in terms of their rewards

OCBC Cashflo Card vs Standard Chartered Unlimited Cashback Card

Standard Chartered Unlimited Cashback Card also provides a great 0% instalment plan that provides rewards without charging a fee. In fact, its rewards of 1.5% rebate is even higher than that of OCBC Cashflo Card. However, its annual fee is only waived for 2 years. Therefore, for those who are looking for a great 0% instalment plan credit card, the choice comes down to preference between a higher rebate and the perpetual annual fee waiver.

OCBC Cashflo Card vs Standard Chartered SingPost Spree Credit Card

Standard Chartered SingPost Spree Credit Card is also a great credit card with a 0% instalment lan that doesn't charge an annual fee while still providing rewards. However, it differs rather meaningfully from OCBC Cashflo Card in terms of its rebate: SC SingPost Spree Card provides 2-3% on online transactions (including foreign currency transactions), and 1% on all other retail transactions. Furthermore, its annual fee is waived for 2 years, but can't be waived afterwards. Therefore, for those who are looking for a great 0% instalment plan credit card, the choice comes down to preference between a higher rebate (particularly for online shopping) and the perpetual annual fee waiver.

OCBC Cashflo Card vs DBS Woman's World Card

DBS Woman's World Card is an excellent way to earn miles on shopping expenditures while also having a means to make a big purchase without incurring huge additional costs. First, it provides a mile reward of 4 miles per S$1 spent online. On top of this, DBS Womn's World Card provides a 0% interest payment plan that doesn't charge any fees for up to 12 months. However, DBS's 0% instalment plan doesn't provide any rewards on the amount spent through its payment plan, although it also doesn't charge a processing fee for up to 12 months.

Comments and Questions

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