POSB Everyday vs. OCBC 365 Credit Card Comparison 2020

POSB Everyday Card and OCBC 365 Card are amongst the most popular options for consumers seeking easy cashback on their daily essentials. While both competitive, these cards are quite different, however. We've closely analysed the comparative strengths and weaknesses between these two cards to help you to determine which is better suited to your lifestyle.

  • Details of rebate system & structure
  • General & boosted cashback rates
  • Minimum spend requirements & monthly rewards caps
  • Maximum potential annual earnings
Comparison of Perks & Privileges
  • Travel insurance offerings
  • Current petrol promotions & savings
  • SimplyGo & mobile pay compatibility
  • Extra rebate programmes & card-specific privileges
Comparison of Fees & Requirements
  • Minimum age & minimum income requirements
  • Annual fees, spend-based waivers & sign-on bonuses
  • Foreign transaction fees

Comparison of Competitive Rebate Cards in Singapore by Dollar Value

Based on an average monthly spend of S$2,000, we analysed some of the most competitive rebate cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

A graph displaying how competitive rebate credit cards compare to one another in terms of their rewards
Comparison of Competitive Rebate Cards in Singapore by Estimated 2-Year Dollar Value

Comparison of Competitive Rebate Cards in Singapore by Dollar Value

Based on an average monthly spend of S$2,000, we analysed some of the most competitive rebate cards on the market to estimate returned value-to-consumer after 2 years, accounting for rebates and netting out annual fees. As a note, dollar value is heavily dependent on spending habits; intangible benefits (like free travel insurance and airport lounge access) are valuable but difficult to quantify.

A graph displaying how competitive rebate credit cards compare to one another in terms of their rewards
Comparison of Competitive Rebate Cards in Singapore by Estimated 2-Year Dollar Value

Overview: POSB Everyday Card vs. OCBC 365 Card

POSB Everyday Card and OCBC 365 Card are perhaps the two best-known cards for daily expenses in Singapore. Each of these options, however, is meaningfully different. The first frequently offers higher promotional rates, but comes with a few rebate complications and merchant restrictions; the latter rewards similar spending and offers a fee-waiver, but tends to provide fewer merchant-exclusive deals. We've provided a detailed breakdown of how these two cards actually compare, to help you decide which might be the better option for you.

Summary Comparison Table: POSB Everyday vs. OCBC 365

CategoryFeaturePOSB Everyday CardOCBC 365 Card
RatesMin. Spend Req.VariesS$800/month
Rebate Boosts
  • 15% online food delivery & catering
  • 5% dining & select groceries
  • 3% personal care at Watsons
  • 1% select recurring bills
  • 0.30% general spend
  • 6% dining & food delivery
  • 3% groceries, land transport, online travel & recurring bills
  • 0.30% general spend
Earnings CapVariesS$80/month
PerksPetrol SavingsUp to 20.1% fuel savings at SPCUp to 24% fuel savings at Sinopec, 23% at Caltex, 20.4% at Esso
CompatibilitySimplyGo & Mobile Pay CompatibleSimplyGo & Mobile Pay Compatible
Card PrivilegesPOSB Exclusive Merchant DealsVisa Concierge & Luxury Hotels Privileges
FeesAnnual FeeS$192.6S$192.6
Waiver OptionWaived for 1 yearWaived 2 years, & subsequently with S$10,000 annual spend
POSB Everyday Card's minimum spend is based on bank-set Personalised Spend Goal, which varies from person to person; earnings cap varies as limits are often promotional and change. Additional details apply. See sections below or card websites for a further breakdown of information

Rewards Rates: POSB Everyday Card vs. OCBC 365 Card

Both POSB Everyday Card and OCBC 365 Card are worth considering if you're seeking rewards on daily essentials. While both rewarding similar areas of spend, however, each of these options vary in ease-of-use.

POSB Everyday Card stands out by offering frequent, competitive promotional rates. Often, cardholders can expect to earn as much as 15% rebate on online food delivery & catering and more. Otherwise, rebates typically span 3%–5% and cover areas such as dining, groceries and personal care. While attractive, these rates aren't especially straightforward. To unlock elevated rates, cardholders must reach a Personalised Spend Goal, which is dictated by the bank based on the cardholder's spending behaviour and which varies from person to person. Additionally, because promotional rates change, cardholders may have difficulty balancing their spending to truly optimise their rewards. Finally, some rewards are merchant restricted. This may require consumers to pay closer attention to where they're shopping and perhaps even to alter their habits.

Comparison Table: Cashback Rewards

FeaturePOSB Everyday CardOCBC 365 Card
Rebate StructureMonthly SystemMonthly System
Rate StructureCategory BoostsCategory Boosts
Base Rate0.30%0.30%
Min. Spend Req.Personalised Spend GoalS$800/month
Boosts
  • 15% online food delivery & catering
  • 5% dining & select groceries
  • 3% personal care at Watsons
  • 1% select recurring bills
  • 6% dining & food delivery
  • 3% groceries, transport, online travel, recurring telco & electric bills
Mo. Rewards CapVariesS$80/month
Max Annual EarningsVariesS$960/year
Personalised Spend Goal for POSB Everyday Card is set by bank and varies from person to person; earnings cap varies as caps are often promotional and may change. Additional details apply. See card websites for a further breakdown of information

OCBC 365 Card, on the other hand, is fairly easy to use. While there's a S$800 minimum spend requirement, this aligns with market competitors' and is reasonably achievable. Rewarded categories are fairly static and there are no merchant restrictions to track or worry about. Finally, cardholders can fairly easily max out the S$80/month rewards cap with as little as S$1,333 spend. Ultimately, OCBC 365 Card is both competitive and predictable–and therefore, a lower-maintenance pick for most consumers.

Perks & Privileges: POSB Everyday Card vs. OCBC 365 Card

POSB Everyday Card and OCBC 365 vary significantly in terms of perks. The first stands out for its extensive POSB Exclusive Merchant Deals. Given that the card already has several merchant-restricted categories, this special perk ties into the rewards structure almost seamlessly. Consumers have access to savings in 3 different categories, for the most part: utilities (extra rebates on power bills upon sign-up), shopping (fashion and retail promotions with brands like Zalora), and health (anything from check-up discounts to deals on supplements). These savings change every month or so, so it's important to check for expiration dates.

Comparison Table: Card Perks & Privileges

FeaturePOSB Everyday CardOCBC 365 Card
Travel InsuranceN/AS$500k Personal Accident; S$500 Medical; Travel Inconvenience
Petrol SavingsUp to 20.1% fuel savings at SPCUp to 24% fuel savings at Sinopec, 23% at Caltex, 20.4% at Esso
Transit PerksSimplyGo CompatibleSimplyGo Compatible
Mobile PayGoogle Pay, Apple Pay, Samsung Pay & moreGoogle Pay, Apple Pay, Samsung Pay, Fit Bit, Garmin & more
Card PrivilegesPOSB Exclusive Merchant DealsVisa Concierge Services, Visa Luxury Hotels Privileges
Additional details apply. See card websites for a further breakdown of information

OCBC 365 Card's perks extend beyond deals and discounts. In fact, cardholders receive free travel insurance and privileges like dining credits, complimentary WiFi and room upgrades via the Visa Luxury Hotels programme. These benefits are a great fit for everyday consumers who occasionally travel.

Fees, Promos & Requirements: POSB Everyday vs. OCBC 365 Card

Consumers who want a low-maintenance card may already have come to the conclusion that OCBC 365 Card is a better fit. This is also true when considering fees and requirements. While POSB Everyday Card has a S$192.6 fee, waived just 1 year, OCBC 365 Card's S$192.6 fee is waived for 2 full years and then with just S$10k annual spend. This averages out to about S$833/month, which is roughly equal to the minimum spend requirement to even unlock its upper rates. As a result, someone who is taking full advantage of OCBC 365 Card also won't need to worry about paying its annual fee–perfect for consumers looking for an easy and affordable cashback option.

Comparison Table: Requirements, Promos & Fees

FeaturePOSB Everyday CardOCBC 365 Card
Minimum Age21 yo21 yo
Minimum Income
  • SG & PR: S$30,000
  • Foreigners: S$45,000
  • SG & PR: S$30,000
  • Foreigners: S$45,000
Annual FeeS$192.6S$192.6
Waiver OptionWaived for 1 yearWaived 2 years, & subsequently with S$10,000 annual spend
Sign-on BonusReceive S$200 cash back with promo code "DBSFLASH"Free S$100 cash via PayNow (new customers) via our partnership with SGSaver
FX Fee3.25%3.25%
Additional details apply. See card websites for a further breakdown of information

Comparison to Similar Rebate Credit Cards

While POSB Everyday Card and OCBC 365 Card are well-known for their value as everyday cards, there are several alternatives that are also worth considering. We've reviewed them in detail below.

Citi Cash Back Card: Boosted Rebates on Food & Fuel

  • Up to 8% rebate on global dining, groceries & petrol
  • Promotions: New cardholders get a set of Airpods Pro (worth S$379) or S$300 upon activating and spending within 60 days of approval
  • S$30 cash via PayNow (existing customers)
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on dining, grocery, & petrol (any station)
  • Up to 20.88% fuel savings at Esso & Shell
If you spend a great deal on food and fuel, consider Citi Cash Back Card. Cardholders who spend at least S$888/month earn 8% rebate on global dining, groceries and petrol. These rates are quite high–even when compared to POSB Everyday and OCBC 365 Card. However, each category is individually capped at S$25/month (maxed out with S$312.5 spend), which may be limiting for those with higher or skewed spending.


It's also worth mentioning that Citi Cash Back Card may not be the best option for truly everyday spending. While food & petrol make up a large part of many Singaporean's budgets, cardholders might prefer a more well-rounded option that also rewards transport, personal care and recurring bills. In this case, POSB Everyday Card and OCBC 365 Card may be better options.

  • Stand-Out: Up to 8% rebate on global dining, groceries & petrol
  • Promotions: New cardholders get a set of Airpods Pro (worth S$379) or S$300 upon activating and spending within 60 days of approval
  • S$30 cash via PayNow (existing customers)
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 8% cashback on dining, grocery, & petrol (any station)
  • Up to 20.88% fuel savings at Esso & Shell
If you spend a great deal on food and fuel, consider Citi Cash Back Card. Cardholders who spend at least S$888/month earn 8% rebate on global dining, groceries and petrol. These rates are quite high–even when compared to POSB Everyday and OCBC 365 Card. However, each category is individually capped at S$25/month (maxed out with S$312.5 spend), which may be limiting for those with higher or skewed spending.


It's also worth mentioning that Citi Cash Back Card may not be the best option for truly everyday spending. While food & petrol make up a large part of many Singaporean's budgets, cardholders might prefer a more well-rounded option that also rewards transport, personal care and recurring bills. In this case, POSB Everyday Card and OCBC 365 Card may be better options.

Maybank Family & Friends Card: Top Rates in SG & MY

  • Best for rebates in SG & MY w/ S$500 min. spend
  • Promotions: Receive S$100 rebate w/ S$250 spend/mo for 2mo
  • Receive S$30 cash via PayNow (through our partnership w/ SGSaver)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver then w/ S$12k annual spend
  • Up to 8% rebate on fast food & food delivery, groceries, transport, petrol & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
If you mostly spend in Singapore & Malaysia, Maybank Family & Friends Mastercard may just be the best option for you. Cardholders who spend S$500/month in these countries earn 5% cashback on fast food & online food delivery, groceries, transport, petrol and data communications/online TV streaming–amongst the highest rates available for lower spenders. Even better, consumers who spend S$800/month earn 8% in these categories, up to S$80/month. This cap can be maxed out with just S$1k spend–which qualifies the cardholder for a fee-waiver. After all, the S$180.0 fee is waived 3 years and subsequently with just S$12k annual spend.


Maybank Family & Friends Card stands out for both for its accessibility and flexibility. While overseas spend does not earn at heightened rates, local spenders have very little to worry about as there are no merchant restrictions. Nonetheless, individuals who do tend to travel and spend overseas may prefer an alternative everyday card, like OCBC 365. This card rewards both local and overseas spend, while also providing a few attractive travel perks.

  • Stand-Out: Best for rebates in SG & MY w/ S$500 min. spend
  • Promotions: Receive S$100 rebate w/ S$250 spend/mo for 2mo
  • Receive S$30 cash via PayNow (through our partnership w/ SGSaver)
  • Read Our Full Review
  • Annual fee: S$180.0, 3-year waiver then w/ S$12k annual spend
  • Up to 8% rebate on fast food & food delivery, groceries, transport, petrol & online TV streaming in Singapore & Malaysia, after S$800 min spend (5% rebate with S$500 min spend)
  • 0.3% rebate all other spend
If you mostly spend in Singapore & Malaysia, Maybank Family & Friends Mastercard may just be the best option for you. Cardholders who spend S$500/month in these countries earn 5% cashback on fast food & online food delivery, groceries, transport, petrol and data communications/online TV streaming–amongst the highest rates available for lower spenders. Even better, consumers who spend S$800/month earn 8% in these categories, up to S$80/month. This cap can be maxed out with just S$1k spend–which qualifies the cardholder for a fee-waiver. After all, the S$180.0 fee is waived 3 years and subsequently with just S$12k annual spend.


Maybank Family & Friends Card stands out for both for its accessibility and flexibility. While overseas spend does not earn at heightened rates, local spenders have very little to worry about as there are no merchant restrictions. Nonetheless, individuals who do tend to travel and spend overseas may prefer an alternative everyday card, like OCBC 365. This card rewards both local and overseas spend, while also providing a few attractive travel perks.

UOB One Card: Flat Rebate for Stable Spenders

  • Up to 5% rebate on all spend, S$300/quarter
  • Promotions: New cardholders will receive S$80 cash via Paynow upon approval
  • Existing cardholders will receive S$20 worth of GrabFood voucher
  • Bonus +5% rebate (up to 10%) on Grab & UOB Travel Planner
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate on general spend, up to S$300/quarter (S$2,000 min spend)
  • Up to 10% on Grab & select UOB travel, 6% on utilities bills
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
If you consistently spend about S$2k/month, you may be able to earn more with UOB One Card than with any other option currently on the market. Cardholders earn on a quarterly basis, based on their minimum spend within the 3 months. Those who spend at last S$2k every month earn 5% cashback on all spend, up to S$100/month (S$300/quarter). This is quite remarkable, adding up to a potential S$1.2k cashback within a year. Even better, there's no need to track categories or merchants, as the 5% rate is applied to all purchases–including recurring bills.


UOB One Card is less competitive for lower or variable spenders, however, who will instead earn 3.33% cashback. At this rate, consumers would likely earn more with POSB Everyday Card or OCBC 365 Card, as long as they hit the S$800 minimum. Also, UOB One Card's S$192.6 annual fee is waived just 1 year. Consumers who want to avoid extra costs might prefer OCBC 365 Card.

  • Stand-Out: Up to 5% rebate on all spend, S$300/quarter
  • Promotions: New cardholders will receive S$80 cash via Paynow upon approval
  • Existing cardholders will receive S$20 worth of GrabFood voucher
  • Bonus +5% rebate (up to 10%) on Grab & UOB Travel Planner
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 5% rebate on general spend, up to S$300/quarter (S$2,000 min spend)
  • Up to 10% on Grab & select UOB travel, 6% on utilities bills
  • 3.33% rebate, up to S$100/quarter (S$1,000 min spend)
  • 3.33% rebate, up to S$50/quarter (S$500 min spend)
  • UOB SMART$ Rebate Programme
If you consistently spend about S$2k/month, you may be able to earn more with UOB One Card than with any other option currently on the market. Cardholders earn on a quarterly basis, based on their minimum spend within the 3 months. Those who spend at last S$2k every month earn 5% cashback on all spend, up to S$100/month (S$300/quarter). This is quite remarkable, adding up to a potential S$1.2k cashback within a year. Even better, there's no need to track categories or merchants, as the 5% rate is applied to all purchases–including recurring bills.


UOB One Card is less competitive for lower or variable spenders, however, who will instead earn 3.33% cashback. At this rate, consumers would likely earn more with POSB Everyday Card or OCBC 365 Card, as long as they hit the S$800 minimum. Also, UOB One Card's S$192.6 annual fee is waived just 1 year. Consumers who want to avoid extra costs might prefer OCBC 365 Card.

Cashback Credit Card Comparison Tables

Credit CardMin. SpendRebatesCap
Citi Cash Back S$888
  • 8% dining, groceries & petrol
S$75/mo
Citi SMRT N/A
  • Up to 7% groceries, 5% fast food, movies & coffee
  • 3% online, 2% health & wellness
S$50/mo
DBS Live Fresh S$600
  • 5% online & contactless
S$60/mo
OCBC 365 S$800
  • 6% dining & food delivery
  • 3% groceries, transport, online travel, bills
S$80/mo
OCBC Frank S$400
  • 6% online purchases
  • 5% wknd local entertainment & select cafes (3% wkdays)
S$60/mo
POSB Everyday Varies
  • 15% online food delivery & catering
  • 5% dining & select groceries
  • 3% personal care at Watsons, 1% recurring bills
Varies
UOB One S$500-S$2k
  • Up to 5% flat rebate
S$100+/mo
UOB YOLO S$600
  • Up to 8% wknd dining, entertainment & Grab (3% wkdays)
  • 3% online fashion & travel
S$60/mo
Citi SMRT rebates are merchant-restricted. OCBC Frank's minimum refers to offline spend only. POSB Everyday Card's minimum is a Personalised Spend Goal set by the bank and varies by consumer; its rebates are primarily merchant-restricted and its earnings cap varies according to promotions
Credit CardTravel InsPetrol SavingsCard Perks
Citi Cash Back Coverage up to S$1MUp to 20.88% fuel savings at Esso & ShellCiti World Privileges, Citi Gourmet Pleasures
Citi SMRT N/AUp to 14% fuel savings at Esso & ShellCiti World Privileges, Citi Gourmet Pleasures
DBS Live Fresh N/AUp to 14% fuel savings at Esso #FreshDropFriday Sweeps
OCBC 365 Coverage up to S$500kUp to 24% fuel savings at Sinopec, 23% at Caltex, 20.4% at EssoVisa Concierge & Luxury Hotels
OCBC Frank N/AUp to 20% fuel savings at Sinopec, 16% at Caltex, 14% at EssoFrank Hot Deals
POSB Everyday N/AUp to 20.1% fuel savings at SPCPOSB Merchant Deals
UOB One Coverage up to S$500kUp to 28.72% fuel savings at ShellUOB SMART$, UOB Travel & Dining Advisors
UOB YOLO Coverage up to S$500kUp to 13.6% fuel savings at ShellUOB SMART$, YOLO events
Travel insurance refers to free travel accident coverage for the principal cardholder
Credit CardAnnual FeeSpend WaiverPromotion
Citi Cash Back S$192.6Waived for 1 yearNew cardholders get a set of Airpods Pro (worth S$379) or S$300
Citi SMRT Back S$192.6Waived for 2 yearsReceive up to S$120 cashback with S$1.2k min. spend in 1st 3mo
DBS Live Fresh S$192.6Waived for 1 yearS$200 cashback w/ promo code "DBSFlash"
OCBC 365 S$192.6Waived 2 years, & subsequently with S$10,000 annual spendFree S$100 cash via PayNow (new customers) via our partnership with SGSaver
OCBC Frank S$80.0Waived 2 years, & subsequently with S$10,000 annual spendNew cardholders will receive S$50 cashback & S$50 Grab Vouchers
POSB Everyday S$192.6Waived for 1 yearReceive S$200 cash back with promo code "DBSFLASH"
UOB One S$192.6Waived for 1 yearNew cardholders will receive S$80 cash via Paynow & Existing cardholders will receive S$20 worth of GrabFood Vouchers
UOB YOLO S$192.6Waived for 1 yearNew cardholders will receive S$80 cash via Paynow & Existing cardholders will receive S$20 worth of GrabFood Vouchers
Waivers and bonuses subject to change. See card websites for further details

Learn More About Finding the Best Credit Card for You

Carrie Arndt

Carrie is a Senior Analyst at ValueChampion, specialising in credit cards in Singapore. She previously led consumer studies worldwide as a Senior Research Executive at MMR Research.

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