Credit Card Review

Key benefits at a glance:

• Built in 0% instalment Payment tool to manage your cashflow
• Extend your purchasing power with 6-month payment plan with participating merchants from department stores, luxury brands, travel agents and even insurance!
• Enjoy up to 1% monthly cash rebates even when you pay instalments
• OCBC Rewards – motoring discounts, dining privileges and exclusive WowDeals
• Movie Discounts – Get discounts on movie tickets and combo meals at Shaw Theatres and Cathay Cineplexes

It’s not difficult to see what inspired the name of the OCBC Cashflo Credit Card – Cash flow. Simply put, cash flow in finance represents the revenue/expense stream that affects a cash account over a

To illustrate this, imagine a scenario where you need to pay for your wedding banquet (and we all know how expensive it is here in Singapore!)
Both you and your spouse-to-be have decided on a $20,000 banquet package for your wedding and you need to place a $4,500 deposit. You can simply use the Cashflo card to pay for your $4,500 deposit, which will automatically be split into a $1,500 monthly payment over 3 months if you have pre-set your trigger amount to $1,500.

Compared to using a normal credit card where you will use up $4,500 of your credit limit within a month, you will have used just $1,500 of your credit limit for each of the three months, leaving you with more cash to spend on a monthly basis, and that’s cashflow management for you! And did we mention yet that there’s no interest charged at all?

Besides giving you more room to breathe with the 0% instalment plans, the great thing about this card is you get to earn rebates at the same time. While you might be able to find other credit cards that offer 0% instalment plans, almost none of them offer rebates as well.. In fact, with over $1,000 spend per month, you get an additional 1% rebate, which comes up to free cash rebate of $10, just by paying with instalment!

The list of partner merchants for their 6-month instalment plans are impressive as well, ranging from department stores such as Robinsons, Tangs and Isetan to luxury brands such as Louis Vuitton and Prada. What we find absolutely practical is their tie up with hospitals as well. We all know how significant a hospital bill can come up to, so having the option to pay it by instalment with no interest charged as well can provide great relief in times of tight cashflow.

Annual fees are waived for 2 years and you only need a minimum income requirement of $30,000 per annum to be eligible for Singaporeans and SPRs.