UOB One vs. OCBC 365 Credit Card Comparison 2020

If you're looking to earn cashback on daily essentials, you may have already considered UOB One Card or OCBC 365 Card. After all, these options are amongst the most popular everyday cards currently on the market. While both are quite competitive, they have very different rebate structures and ultimately reward different spending behaviours. To help you to decide which of these cards better suits your lifestyle, we've provided a detailed comparative breakdown in the guide below.

  • 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: UOB One Card vs. OCBC 365 Card

UOB One Card and OCBC 365 Card are amongst the absolute best everyday cashback cards on the market for average consumers. In fact, consumers can earn competitive rebate rates on nearly all of their spend, without having to worry about merchant restrictions or individual category caps. In fact, both options allow cardholders to earn at least S$960+ per year in cashback rewards.

Summary Comparison Table: UOB One vs. OCBC 365

CategoryFeatureUOB One CardOCBC 365 Card
RatesMin. Spend Req.S$500, S$1k or S$2k/moS$800/mo
Rebate Boosts
  • S$500/mo spend: 3.33%
  • S$1k/mo spend: 3.33%
  • S$2k/mo spend: 5.00%
  • +1% on SP bills, +5% on Grab & UOB Travel
  • 6% on dining & food delivery
  • 3% on groceries, land transport, online travel & recurring bills
  • 0.30% on general spend
Earnings Cap
  • S$500/mo spend: S$17
  • S$1k/mo spend: S$33
  • S$2k/mo spend: S$100
  • S$80
PerksPetrol SavingsUp to 28.72% fuel savings at ShellUp to 24% fuel savings at Sinopec, 23% at Caltex, 20.4% at Esso
CompatibilitySimplyGo & Mobile Pay CompatibleSimplyGo & Mobile Pay Compatible
Card PrivilegesUOB SMART$, UOB Travel & Dining AdvisorVisa Concierge & Luxury Hotels Privileges
FeesAnnual FeeS$192.6S$192.6
Waiver OptionWaived for 1 yearWaived 2 years, & subsequently with S$10,000 annual spend
Additional details apply. See sections below or card websites for a further breakdown of information

Nonetheless, UOB One Card and OCBC 365 Card also have their differences. In fact, their actual rebate structures vary significantly, ultimately catering to consumers with very different spending behaviours. We've outlined these differences in our analyses below so you can determine which option better aligns with your own needs and habits.

Rewards Rates: UOB One Card vs. OCBC 365 Card

While both competitive, UOB One Card and OCBC 365 Card have very different rebate structures. UOB One Card has a quarterly system, meaning that cashback rates are contingent on spending behaviour across 3 consecutive months and rewards are allocated to the consumer's account at the end of the period. Cardholders who consistently spend S$2k+/month every month for the full quarter to unlock the 5% rebate rate. Those who spend even slightly less during one of those months will earn just 3.33%, drastically reducing the earning-potential of the card. However, as consumers earn at a flat rate, there's no need to track categories, making UOB One quite convenient.

OCBC 365 Card, on the other hand, has a monthly rebate system and offers rate boosts in specific spend categories. This is great for consumers with variable budgets because one month's spend total will not influence the next's. As long as cardholders meet the S$800/month minimum requirement, they'll have access to OCBC 365 Card's high advertised rates. OCBC 365 Card does have category-driven rebates, however, so consumers should pay attention to what they're charging. This is especially true for frequent online shoppers, who will not earn elevated cashback on shopping sprees with this card.

Comparison Table: Cashback Rewards

FeatureUOB One CardOCBC 365 Card
Rebate StructureQuarterly SystemMonthly System
Rate StructureFlat RebateCategory Boosts
Base Rate0.03%0.30%
Min. Spend Req.S$500, S$1k or S$2kS$800
Boosts
  • Min. S$500/mo spend: 3.33%
  • Min. S$1k/mo spend: 3.33%
  • Min. S$2k/mo spend: 5.00%
  • Bonus: +1% on SP bills, +5% Grab & UOB Travel
  • 6% on dining & food delivery
  • 3% groceries, transport, online travel, recurring telco & electric bills
Mo. Rewards Cap
  • Min. S$500/mo spend: S$17
  • Min. S$1k/mo spend: S$33
  • Min. S$2k/mo spend: S$100
SP, Grab & UOB Travel boosts do not count towards cap
  • S$80
Max Annual EarningsS$1,200+S$960
Additional details apply. See card websites for a further breakdown of information

UOB One Card and OCBC 365 Card also differ in terms of rewards caps. UOB One Card's rebates are technically awarded on a quarterly basis; cardholders can earn up to S$300/quarter (averaging to S$100/month) if they've consistently spent at least S$2k/month. Earnings caps drop precipitously for lower spenders. In fact, those who spend less than S$1k any given month will only be eligible for a max rebate of S$50/quarter (averaging to S$17/month). OCBC 365 Card is a bit more forgiving. Cardholders can earn up to S$80/month, which can be achieved with as little as S$1.3k monthly spend. Ultimately, while stable spenders can earn more annually with UOB One Card (S$1.2k+), variable spenders are more likely to max out rewards with OCBC 365 Card.

Perks & Privileges: UOB One Card vs. OCBC 365 Card

UOB One Card and OCBC 365 Card have similar perks and privileges. Both offer competitive petrol savings, have SimplyGo compatibility, and can be used for "tap and pay" through a variety of channels. These are great for on-the-go consumers who value convenience. However, these cards do still have slight differences in their offerings.

Unlike OCBC 365 Card, UOB One Card comes with access to an ancillary rebate programme, called UOB SMART$. Cardholders earn SMART$ ("points" that can be redeemed to offset future purchases) for spend with merchants like BreadTalk, Cathay Cineplexes, Air Asia and more. This boost, paired with 1-for-1 dining deals and restaurant discounts through UOB Dining Advisor, ultimately makes UOB One Card a great match for consumers focused on savings.

Comparison Table: Card Perks & Privileges

FeatureUOB One CardOCBC 365 Card
Travel InsuranceS$500k Personal Accident; S$50k Medical, Evac & RepatriationS$500k Personal Accident; S$500 Medical; Travel Inconvenience
Petrol SavingsUp to 28.72% fuel savings at ShellUp to 24% fuel savings at Sinopec, 23% at Caltex, 20.4% at Esso
Transit PerksSimplyGo CompatibleSimplyGo Compatible
Mobile PayGoogle Pay, Apple Pay, Samsung Pay, UOB Mighty & moreGoogle Pay, Apple Pay, Samsung Pay, Fit Bit, Garmin & more
Card PrivilegesUOB SMART$ Rebate Programme, UOB Travel Advisor, UOB Dining AdvisorVisa Concierge Services, Visa Luxury Hotels Privileges
Additional details apply. See card websites for a further breakdown of information

OCBC 365 Card, on the other hand, caters a bit more to travellers. Even though it's a cashback card, it offers a rather impressive free travel insurance plan that even includes travel inconvenience coverage. Cardholders are covered up to S$200 per person for flight delays, missed connections, baggage delays and baggage loss. OCBC 365 cardholders also have access to the Visa Luxury Hotels programme, which provides consumers with room upgrades, dining credits, free in-room WiFi, late checkout and more.

Fees, Promos & Requirements: UOB One Card vs. OCBC 365 Card

Another key point of difference between UOB One Card and OCBC 365 Card is their annual fee. UOB One Card has a S$192.6 annual fee, waived just the 1st year. OCBC 365 Card's S$192.6 fee is waived 2 years, then subsequently with just S$10k annual spend. While avoiding an annual fee is attractive, UOB One Card is still a better bet for most stable spenders. After all, consumers spending S$2k/month can earn over S$1k/year in rewards even after factoring in the fee.

Comparison Table: Requirements, Promos & Fees

FeatureUOB One CardOCBC 365 Card
Minimum Age21 yo21 yo
Minimum Income
  • SG & PR: S$30,000
  • Foreigners: S$40,000
  • 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 BonusNew cardholders will receive S$80 cash via Paynow & Existing cardholders will receive S$20 worth of GrabFood VouchersFree S$100 cash via PayNow (new customers) via our partnership with SGSaver
FX Fee2.80%3.25%
Additional details apply. See card websites for a further breakdown of information

Comparison to Similar Rebate Credit Cards

While UOB One Card and OCBC 365 Card are quite competitive, there are still several worthwhile alternatives on the market. We've reviewed a few similar options below to help you identify whether or not they'd match your lifestyle.

POSB Everyday Credit Card: Top Promotional Rebates on Essentials

  • Promotional rebates of up to 15% in key spend categories
  • Promotions: S$200 cashback with no minimum spend using promo code "DBSFLASH" (must make 1 transaction)
  • Receive 8% off online shopping by reaching monthly Personalised Spend Goal online (rewards capped at S$16-S$120/mo)
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 15% rebate on online food delivery, 5% dining, 5% groceries at Sheng Siong
  • 3% rebate on personal care at Watsons
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • SimplyGo/ABT capabilities for public transit fares
POSB Everyday Card is well known for offering top promotional rebates on daily essentials, ranging from food to recurring bills. While rates frequently change, cardholders can typically earn as much as 15% on online food delivery and up to 5% on categories like dining, groceries, and wellness. Even recurring bills with select merchants earn 1% cashback (though earnings are capped at just S$1). This is still somewhat competitive as many cards do not reward bill-pay at all.


However, in this case, both UOB One and OCBC 365 Cards do reward recurring bill payments, and even offer higher rates. They also lack merchant restrictions, while POSB Everyday Card typically limits a few of its categories to select vendors. Overall, average consumers may ultimately be better off with one of these alternatives.

  • Stand-Out: Promotional rebates of up to 15% in key spend categories
  • Promotions: S$200 cashback with no minimum spend using promo code "DBSFLASH" (must make 1 transaction)
  • Receive 8% off online shopping by reaching monthly Personalised Spend Goal online (rewards capped at S$16-S$120/mo)
  • Read Our Full Review
  • Annual fee: S$192.6, 1-year waiver
  • 15% rebate on online food delivery, 5% dining, 5% groceries at Sheng Siong
  • 3% rebate on personal care at Watsons
  • 1% rebate on recurring bills with select merchants (capped at S$1/month)
  • SimplyGo/ABT capabilities for public transit fares
POSB Everyday Card is well known for offering top promotional rebates on daily essentials, ranging from food to recurring bills. While rates frequently change, cardholders can typically earn as much as 15% on online food delivery and up to 5% on categories like dining, groceries, and wellness. Even recurring bills with select merchants earn 1% cashback (though earnings are capped at just S$1). This is still somewhat competitive as many cards do not reward bill-pay at all.


However, in this case, both UOB One and OCBC 365 Cards do reward recurring bill payments, and even offer higher rates. They also lack merchant restrictions, while POSB Everyday Card typically limits a few of its categories to select vendors. Overall, average consumers may ultimately be better off with one of these alternatives.

Citi Cash Back Card: Boosts for Food & Petrol

  • 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
Citi Cash Back Card is a great option for average consumers with considerable spend on food and fuel. Cardholders earn 8% cashback on global dining, groceries and petrol after S$888 minimum spend. While earnings are capped at just S$25/category (each maxed out with just S$312.5 spend), consumers can ultimately earn up to S$75/month–or S$900/year.


While offering higher rates than UOB One Card or OCBC 365 Card, Citi Cash Back does have a slightly higher-than-average minimum spend requirement and lower earnings cap. It also only rewards spend in just 3 categories, which is a bit limiting for an "everyday" card. As a result, Citi Cash Back may be a better option for those seeking focused cashback on core expenses, but UOB One and OCBC 365 Cards are likely better for daily spending.

  • 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
Citi Cash Back Card is a great option for average consumers with considerable spend on food and fuel. Cardholders earn 8% cashback on global dining, groceries and petrol after S$888 minimum spend. While earnings are capped at just S$25/category (each maxed out with just S$312.5 spend), consumers can ultimately earn up to S$75/month–or S$900/year.


While offering higher rates than UOB One Card or OCBC 365 Card, Citi Cash Back does have a slightly higher-than-average minimum spend requirement and lower earnings cap. It also only rewards spend in just 3 categories, which is a bit limiting for an "everyday" card. As a result, Citi Cash Back may be a better option for those seeking focused cashback on core expenses, but UOB One and OCBC 365 Cards are likely better for daily spending.

Maybank Family & Friends Card: Leading Rebates 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
Maybank Family & Friends Mastercard is one of the absolute best options on the market for the average local and regional spender. Cardholders earn 5% rebate in Singapore and Malaysia on fast food & online food delivery, groceries, transport, petrol and data communications/online TV streaming, with just S$500 minimum spend. Those who spend S$800 earn at a boosted 8% rebate rate. Rewards are capped at S$80/month, which can be maxed out with just S$1k spend. At this budget level, cardholders also earn a fee waiver–the S$180.0 fee is waived with S$12k annual spend.


Ultimately, MB F&F Card is incredibly competitive when compared to UOB One Card and OCBC 365 Card. Like UOB One Card, it offers a tiered minimums system that allows lower spenders to still access higher rates, and like OCBC 365 Card, it offers cardholders a relatively easy fee-waiver. It stands out from both options by offering higher potential rates overall, while still covering a comprehensive range of spend categories. MB F&F Card does not provide high rates for overseas or travel spend, however, so consumers who tend to vacation may prefer UOB One or OCBC 365 Card.

  • 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
Maybank Family & Friends Mastercard is one of the absolute best options on the market for the average local and regional spender. Cardholders earn 5% rebate in Singapore and Malaysia on fast food & online food delivery, groceries, transport, petrol and data communications/online TV streaming, with just S$500 minimum spend. Those who spend S$800 earn at a boosted 8% rebate rate. Rewards are capped at S$80/month, which can be maxed out with just S$1k spend. At this budget level, cardholders also earn a fee waiver–the S$180.0 fee is waived with S$12k annual spend.


Ultimately, MB F&F Card is incredibly competitive when compared to UOB One Card and OCBC 365 Card. Like UOB One Card, it offers a tiered minimums system that allows lower spenders to still access higher rates, and like OCBC 365 Card, it offers cardholders a relatively easy fee-waiver. It stands out from both options by offering higher potential rates overall, while still covering a comprehensive range of spend categories. MB F&F Card does not provide high rates for overseas or travel spend, however, so consumers who tend to vacation may prefer UOB One or OCBC 365 Card.

HSBC Advance Credit Card: Top Flat Rate for Affluent Advance Customers

  • Up to 3.5% flat cashback, lofty S$125/month rewards cap
  • Promotions: Receive Samsonite Prestige 69cm Spinner Exp luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$30 Lazada vouchers
  • Read Our Full Review
  • Annual fee: S$192.6, waived for Advance banking customers
  • Up to 3.5% flat rebate for Advance customers (2.5% for others)
If you're an above-average spender open to a banking relationship with HSBC, you may want to consider HSBC Advance Card. Advance banking customers can earn up to 3.5% flat cashback with just S$2k monthly spend (2.5% if below), with no need to worry about category tracking or merchant restrictions. In fact, cardholders can max out rewards at S$125/month, achieved with about S$3.5k spend. Non-advance customers earn just 2.5% cashback with S$2k/month spend (1.5% if below), up to S$70/month, which is less competitive. However, those with above-average budgets who are open to banking with HSBC can earn more with HSBC Advance Card than with either UOB One Card or OCBC 365 Card.
  • Stand-Out: Up to 3.5% flat cashback, lofty S$125/month rewards cap
  • Promotions: Receive Samsonite Prestige 69cm Spinner Exp luggage or S$150 cashback
  • Apply online with MyInfo via SingPass, receive S$30 Lazada vouchers
  • Read Our Full Review
  • Annual fee: S$192.6, waived for Advance banking customers
  • Up to 3.5% flat rebate for Advance customers (2.5% for others)
If you're an above-average spender open to a banking relationship with HSBC, you may want to consider HSBC Advance Card. Advance banking customers can earn up to 3.5% flat cashback with just S$2k monthly spend (2.5% if below), with no need to worry about category tracking or merchant restrictions. In fact, cardholders can max out rewards at S$125/month, achieved with about S$3.5k spend. Non-advance customers earn just 2.5% cashback with S$2k/month spend (1.5% if below), up to S$70/month, which is less competitive. However, those with above-average budgets who are open to banking with HSBC can earn more with HSBC Advance Card than with either UOB One Card or 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.

Comments and Questions

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