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The last revision for this credit card was one year ago (Nov 2017), and this time around, there was a SMS to inform of new changes to this card (again)

The above will be the new spend categories and cash rebate that you will earn. Not sure what are the differences? See below.

  1. The minimum spend will be increased from $700 to $800 to qualify for Family Cash Rebate. Anything lower will result in a 0.3% rebate
  2. The caps for family cash dining, movies and selected merchants will be revised downward from $30 to $25 – meaning you should only spend $250 for dining, and $500 for selected merchants. The overall cap will now be $80, which is lower than the $100 one used to enjoy.
  3. Online purchase, supermarkets and Telco bills have dropped from 5% to 3%, and Grab and Taxi rides have been added into this category. At $30, you can spend up to $1000 in this category before you hit the cap of $30

Bottomline

This is definitely a downgrade for this credit card, as the perks are worse off than before with a higher minimum spend, lower caps, and lower rebate rates for certain categories. However, if you are holding on to the Bank of China Smartsaver account because of the high interest, you may be compelled to keep spending on their credit card in order to earn the 1.6% bonus interest. Do note that the Bank of China World Elite Mastercard is definitely a much better card to use and maintain the spending in this category, so do make the switch if you have not.

The new T&Cs are available here

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One Response to Changes to Bank of China BOC Family Credit Card from 10 Dec 2018

  1. Leng says:

    They also dropped 5% cash rebate for hospital and Nets flashplay categories

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