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BOCFAMILY

Move over OCBC.

Here comes Bank of China, who has successfully modelled the popular programmes at OCBC and made it even better. The BoC SmartSaver account is a fine example, and from 17 Apr 2016, the BoC Family Card will also be packed with more features that makes it a direct competitor to the OCBC 365 card. While previously there were bonus rebates at supermarkets, Popular, Best Denki, Watson etc, now there are additional features like dining, NETS Flashpay ATU etc.

1. Dining

CIMB Visa Signature holds the record for 10% rebate for dining, but realistically quite a painstaking process. (read its T&C carefully). Next up would be Citibank Dividend Card which gives 8% but requires a minimum spend of $888 per statement cycle. BoC Family Card will offer 7% rebate on dining both locally and overseas – at all restaurants, cafes and fast food restaurants excluding all food and beverage spend within hotels and wedding banquet held in hotels, subject to a minimum of $500 spent per statement cycle.

2. Groceries

The 5% rebate for supermarket shopping remains status quo.

3. Hospital

Now you get 5% rebates for hospital bills as well! Note that these are on-site transactions are not AXS related.

4. NETS Flashpay ATU

Here’s the best option for people who topup their Nets Flashpay cards regularly – a good 5% rebate each time. Note there is a cap of 4 transactions per month, and there is a $0.25 BoC ATU fee and $0.25 NETS ATU fee. Since the maximum top-up is $50 each time, this is a 1% charge, but the net value is still 4% rebate, which is pretty awesome.

5. Other merchants

These are the same few merchants that offer 5% rebate previously – Best Denki, Popular, Toys R Us, Watson and newcomer Big Box.

6. Telco bills

There is a 1% rebate for telco bills, which is not fantastic.

7. Additional spend on supplementary cards

The wonderful thing about this card is to share it with your loved one and get rewarded for it! Any spending using the supplementary card (minimum $200 per billing cycle in a quarter) not in any of the special categories will earn an extra 2% rebate, which is capped at $20 per billing cycle – meaning you can use your supplementary card to spend up to $1000 a month on miscellaneous stuff e.g. laundry, online shopping, booking courses and get rewarded for it, but provided there is consistent spending per month throughout the entire quarter.

So what’s the catch for this wonderful card?

Note the minimum spend of $500 a month, if not you get 0.5% rebate only. Also there is a cap of $100 on all rebates a month, so do not exceed $1429 on dining every month!

If you already have this card, there will not be a new card that will be sent to you. However, you can request to change to the above white card which has NETS Flashpay ATU (like the OCBC Frank Card) at an additional cost of $20.

For more information, check out the link here

 

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4 Responses to The Bank of China Family Card Introduces Better Rebates from 17 Apr 2016

  1. Fye says:

    Hi

    There seems to be small typo within the introduction – “The BoC SmartSaver account is a fine example, and from 17 Nov 2016,”

    I suppose you mean 17 Apr and not Nov.

  2. james says:

    can you confirm the update for bank of china is right? based on the official website, this will be discontinued

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