In case you haven’t heard, OCBC just released their latest travel credit card called the OCBC 90°N Travel Credit Card.
First impressions?
It actually looks not bad. Kinda reminds me of…
I mean, have you seen the OCBC Frank Card designs?
I always laugh when my friend pulls this card out to pick up the tab whenever we go out. Which means that he’s usually too embarrassed to take it out.
.
.
.
Wait.
IS THIS HIS PLAN ALL ALONG?! That sly…
Disclaimer: The credit card and related promotions come with respective terms and conditions. So please read through them before deciding if you should get this credit card!
TL;DR: Is The OCBC 90°N Travel Credit Card Worth It?
The new OCBC 90°N Travel Credit Card is currently open for application.
The Good
- Ideal entry-level credit card due to $30,000 annual income eligibility
- No cap on Travel$ earned for local and overseas spend
- For KrisFlyer members due to 1:1 conversion, minimum 1,000 Travel$ conversion, no conversion fee, Travel$ also do not expire
- For miles accrual on overseas spend, as the payment does not have to be processed outside of Singapore
The Not So Good
- No complimentary lounge access
- Travel$ to miles conversion is only applicable for KrisFlyer program (for now)
The OCBC 90°N Card At A Glance
If you’re:
- A Singaporean, PR, E-pass, or S-pass holder
- 21 years old and above
- A fresh grad or young professional who’s earning at least S$2,500 a month
And are looking to get into the miles game, then you’re in luck.
| OCBC 90°N Card | |
|---|---|
| Income Requirement | S$30,000 |
| Annual Fee | S$192.60 (first-year free) |
| Bonus Earned From Annual Fee | 10,000 Travel$ |
| Foreign Currency Fee | 3% |
| Travel$ Validity | No Expiry |
| Transfer Fees | No |
| Local Spend | 1.2 Travel$ for every S$1 charged to card posted in Singapore dollars No Cap |
| Overseas Spend | 4.0 Travel$ for every S$1 equivalent charged to card posted in foreign currency till 29 Feb 2020 2.1 Travel$ for every S$1 equivalent charged to card posted in foreign currency after 29 Feb 2020 No Cap |
I know that some of you might be going, “Why would I pay the credit card annual fee sia… I’ll just call to threaten to cancel then they’ll waive it lah…”
Well… You COULD do that.
In fact, some banks have a phone-in system which automatically processes a fee waiver with the push of a few buttons.
But if you paid the $192.60 annual fee (from the second year onwards) you’re effectively getting 51-ish Travel$ for every S$1.
Naturally, that’s assuming you’re all about miles accrual and paying for them makes financial sense to you, of course.
Sign Up Promo: S$50 Cash Rebate And Bonus 7,000 Travel$
As is with any new credit card, you can definitely expect some form of sign up promo.
| New OCBC Credit Card Applicants | Existing OCBC Customers | |
|---|---|---|
| Upon Approval | S$50 | - |
| Spend S$5,000 Within 3 Months Of Approval | 7,000 Travel$ | 3,000 Travel$ |
Just in case you’re wondering, new customers are those who do not currently, or haven’t held any OCBC credit cards in the past six months.
And in order to qualify for the respective sign-up bonus, your card has to be approved by 31 October 2019.
Earn Travel$ Anywhere And With No Cap
Perhaps the biggest draw of the OCBC 90°N Card is the fact that there is no cap on the Travel$ earned for local and overseas spending.
Also, OCBC defines ‘Overseas Spend’ as ‘Transactions posted in foreign currency’, which means that payment does not have to be processed outside of our sunny island (read: great for those who shop online at say… American or European sites) in order to qualify.
But obviously, you’ll still have to contend with the 3% foreign currency transaction fee. #dontsayneversay
Earn 8 Travel$ For Every S$1 Spend On Hotel Bookings
- Agoda (only through an OCBC affiliated link)
- Airbnb
- Expedia (only through an OCBC affiliated link)
- Millennium Hotels And Resorts
- Mr & Mrs Smith
Earn 4 Travel$ For Every S$1 Spend On Flights
- Air Asia
- Jetstar
- Scoot
- SilkAir
- Singapore Airlines
Earn 4 Travel$ For Every S$1 Spend On Shopping And Entertainment
- DFS
- Netflix
- Spotify
- The Shilla Duty Free Changi Airport
What Can My Travel$ Be Used For?
Since the card lists Singapore Airlines as one of the many airlines which you can earn Travel$ on, I’m sure many of you are wondering if you can convert Travel$ into KrisFlyer miles.
Short answer: Yes.
In fact Travel$ can only be converted to KrisFlyer miles for now.
| Frequent Flyer Program | KrisFlyer |
|---|---|
| Conversion Ratio | 1:1 |
| Minimum Conversion | 1,000 Travel$ |
| Conversion Fees | None |
| Expiry | None |
To summarise: Every S$1 spent earns you 1 Travel$ and every 1 Travel$ = 1 Krisflyer mile. Therefore, every S$1 spend = 1 Krisflyer mile earned.
As great as that sounds, hopefully, there will be new partners and other frequent flyer programs in the future which you can convert your Travel$ to.
Alternatively, you could convert your Travel$ into cash rebates at:
- 1,000 Travel$ = S$10 cash rebate off your bill
- 1,300 Travel$ = S$10 voucher (Robinsons, Takashimaya, Shaw, Watsons, Isetan)
- 2,600 Travel$ = S$20 voucher (Caltex, Tangs, NTUC)
- 3,900 Travel$ = S$30 voucher (Esso)
But that would mean that you’re effectively spending:
- S$1,000 = S$10 cash rebate
- S$1,300 = S$10 voucher
- S$2,600 = S$20 voucher
- S$3,900 = S$30 voucher
Which is… LAME.
You might as well look at getting a cashback credit card instead…
Eligible Spend
In case you’re thinking of maximising your Travel$ earned by clocking your recurrent expenses under this card, you should take note that there are exclusions:
- Utilities
- Government institutions and services
- Insurance underwriting, premiums
- Education
- Parking lots, meters, and garages
The above list is not exhaustive as I’ve only listed the common, recurrent expenses which the average household or family would have.
So if you’re thinking of charging your utilities and insurance premiums to this card to maximise your miles accrual.
You’ve got another think coming.
No Complimentary Airport Lounge Experience
The OCBC 90°N Travel Credit Card, unfortunately, does not provide complimentary access to any airport lounge.
But considering that it’s an entry-level card, you can’t expect much lah ah…
However, you can buy lounge passes to the Mastercard Airport Experience at USD$27 per person, per visit.
And… here’s a little bit of bad news again.
That price will be increased to USD$32 per person, per visit effective 1 Oct 2019.
But hey, there’re plenty of other cards which provide complimentary access to airport lounges. So if you asked me? I wouldn’t pay for this perk.
Should I Get The OCBC 90°N Travel Credit Card?
Firstly, you’d need to be a KrisFlyer member to truly benefit from the Travel$ earned. Other frequent flyer programs might be brought on board in the future, but that’s hard to say for now.
If you’re planning to use this card for cash back, then this card is arguably not a good option.
If you’ve a couple of big-ticket expenses lined up (eg. a wedding or moving into a new home) and want to earn some miles for a vacation next year, then this is a worthy contender.
But as always. Read the terms and conditions carefully.
The basics of personal finance still apply here: only reach out for a credit card if you can commit to making your payments on time.
Otherwise, don’t be a bodoh!
Track your spending with the Seedly app and don’t take on additional fiscal responsibility which you can’t afford!
Already applied for or using the OCBC 90°N Card? Why not leave a review on our Seedly Reviews about your experience?
