Compare the Best Bank Of China Credit Cards in Singapore 2018

Updated September 2018

Looking for the best Bank Of China credit card in Singapore? Compare and find your ideal card with MoneySmart’s easy-to-use credit card comparison tool.

Popular Bank Of China Credit Cards

BOC Elite Miles World Mastercard®
BOC Elite Miles World Mastercard®

S$1 = 2 Miles

Local Spend

S$1 = 5 Miles

Overseas Spend

1 Point = 0.33 Miles

Rewards to Miles Conversion

  • Earn up to 5 Miles per $1 spent
  • Win return ticket to Bangkok with Singapore Airlines

Key Features

  • Local Spend: S$1 = 2 Miles (6 BOC Points)
  • Overseas Spend: S$1 = 5 miles (15 BOC Points)
  • BOC Points can be converted to miles and vouchers (e.g. Grab, Petrol, Golden Village, Qoo10, Grocery)
  • No minimum spend and no cap on earned miles
  • To apply, SMS BOCCARD[space]EMMS[space]Name to 79777

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationMasterCard
Wireless PaymentMasterCard PayPass
Bank of China Qoo10 World Mastercard®
Bank of China Qoo10 World Mastercard®

20%

Rebate on Buses & MRT

S$80

Rebate Cap per month

S$600

Min. Spend per month

  • Unlimited rebate on Overseas Spend
  • Enjoy up to 15% rebate

Key Features

  • Up to 15% Rebate on Qoo10 transactions
  • 20% Rebate on Public Transport Spend (SBS/SMRT buses & MRT
  • 5% Rebate on Public Taxi and Grab, Local Dining, Entertainment, Online and Overseas spend
  • All rebates in form of Qmoney where 1 Qmoney = S$1; Qmoney is Qoo10's virtual currency
  • To apply, SMS BOCCARD[space]Q10MS[space]Name to 79777

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationMastercard
Wireless PaymentN/A
Bank of China Family Card
Bank of China Family Card

10%

Cash Back on Everyday Dining and Movies

S$100

Cash Back per month

S$700

Min. Spend per month

Key Features

  • 10% cashback on Everyday Dining (locally and overseas) and Movies
  • 5% cashback on online shopping, supermarkets, telecommunication bills, NETS Flashpay Auto Top-up and many more
  • 5% Cashback at Selected Mercents: Best Denki, BIG BOX, Watsons, Unity Pharmacy, Toys 'R' Us, Welcia-BHG
  • To apply, SMS BOCCARD[space]FCMS[space]Name to 79777

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentN/A
Bank of China Zaobao Credit Card
Bank of China Zaobao Credit Card

Up to 30.7%

Savings on petrol transactions at Shell and SPC

20%

Cash Rebate on Zaobao and SPH newspaper subscriptions

10%

Cash Rebate on Dining, Online Purchases and Departmental Stores

Key Features

  • Up to 30.7% savings on petrol transactions at Shell and SPC
  • 20% Cash Rebate on Zaobao and SPH newspaper subscriptions
  • 12% Cash Rebate at Breadtalk and 10% Cash Rebate at Buzz, Dining, Department Stores and Online Purchases
  • 5% Cash Rebate on spend in Mainland China
  • 2x Reward Points for every S$1 spent overseas
  • 1x Reward Points for every S$1 spent locally
  • Payment can be made in RMB and/or SGD with no currency exchange fees
  • To apply, SMS BOCCARD[space]ZBMS[space]Name to 79777

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$190
Supplementary Annual Fee$95
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentN/A
Bank of China Sheng Siong Card
Bank of China Sheng Siong Card

Up to 12%

Cash Back at Sheng Siong

S$90

Cash Back Cap per month

S$400

Min. Spend per month

Key Features

  • Up to 12% cash rebate at Sheng Siong
  • 5% cash rebate on Grab and all taxi rides in Singapore
  • 1% cash rebate on Overseas Spend with no minimum spend and no cap
  • To apply, SMS BOCCARD[space]SSMS[space]Name to 79777

Annual Interest Rate and Fees

Annual Interest Rate28.88%
Principle Annual Fee$30
Supplementary Annual Fee$15
Fee WaiverAvailable
Minimum Monthly Repayment3% or S$50, whichever is higher
Interest Free Period23 days

Minimum Income Requirements

Singaporean$30,000
Foreigner$60,000

Other

Card AssociationVisa
Wireless PaymentN/A
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The Best Credit Card for You? 3 Steps to Help You Decide

The best credit card for you depends on your lifestyle and regular spending habits. Here are 3 steps to help you decide which credit card is best for you.

Step 1

Find a card that fits your spending habits

Think about your current lifestyle and spending habits. What are the things you spend the most money on? For example, if you’re a real foodie and spend a lot on dining out, then it makes sense to get a card with double rewards points for eating out and useful perks like 1-for-1 deals at restaurants.

Step 2

Plan how to use your credit card benefits

Credit cards come with a whole plethora of benefits for cardholders. You’ll need to narrow things down by focusing on the benefits that you would actually use. Do you want to collect air miles and fund your upcoming travels? Or accumulate points for shopping vouchers? Or would you rather enjoy cash rebates? This is a deeply personal matter, so it’s worth considering how you like to be rewarded.

Step 3

Check the Terms & Conditions

Now that you’ve got a shortlist of credit cards, it’s time to dig deeper into the details of the rewards or air miles programmes. Find out all you can about terms and conditions like expiry dates, exclusions, minimum spend, credit limit, etc. Be sure to ask a bank rep to clarify if you don’t see answers anywhere.

Common Credit Card Fees

Annual fees aren’t the only type of credit card charges you might be paying. Many of these other common fees will impact the benefits you earn, so be mindful of them and actively monitor your spend.

Balance Transfer Fees

Charged when you move a balance from one card to another, usually 2-4% of the amount transferred.

Cash Advance Fees

Some credit cards allow you to withdraw cash from ATMs, using your credit line. Be prepared to fork out up to 6% of the transaction amount, plus 2%+ daily charges on unpaid withdrawn balance.

Foreign Transaction Fees

Charged for transactions processed outside of Singapore, whether while you’re travelling or making an online purchase. This is usually 2.5% to 3% on top of the prevailing foreign exchange rate.

Did you know?

Paying the Minimum Balance Can Be Very Costly

Because credit cards are effectively short-term loans, you are meant to pay off your bills in full every month. If you make only the minimum payment each month, you may accrue huge additional costs on top of your bill due to the credit card’s interest rate (typically 24%+)!

Your Credit Card Behaviour Affects Your Credit Score

If you plan to apply for any kind of credit or loan (such as a housing loan or car loan) in the future, be aware that any “bad behaviour” with your credit card can come back to haunt you in the form of a bad credit score.

More From The MoneySmart Blog

Check out our blog for more personal finance tips and insights.

Frequently Asked Questions

How do credit cards work?

A credit card is basically a way to borrow money from a bank to make purchases. Unlike a bank loan, a credit card “loans” money in smaller amounts and on a short-term basis, requiring you to pay the bank back monthly (or be subject to unpleasant penalties and interest fees). The biggest payment networks are MasterCard, VISA and American Express, but do note that merchants may not accept all types.

How do I apply for a credit card?

Simply fill out an application online or at a bank branch and submit the required documents such as proof of income. After approval, the bank will inform you about how much you are allowed to borrow and mail you your new credit card. You’ll need to activate the credit card as well as sign on the back.

What’s the difference between debit cards and credit cards?

Unlike credit cards, debit cards do not involve any borrowing. They are linked to your bank account, so purchases made on your debit card are paid for by deducting straight from your funds. You must have sufficient funds on hand to use your debit card. If you have a credit card, you can borrow the money for the time being and pay it back later.

How to prevent credit card fraud?

There’s no sure-fire way to prevent credit card fraud, so unfortunately holding a credit card also means being vigilant about making sure it doesn’t end up in the wrong hands. Make use of credit card alerts, monitor your transactions closely, be wary of phishing scams and don’t make it easy for others to get hold of your credit card information.

What should I do with my credit card statement?

It might not be the most fun thing to read, but it IS super important to understand your credit card statement. So don’t throw it away without checking it. Of course, after reading the statement you will have to pay your bill – typically through online banking, though some people use ATMs, SAMs, AXS machines or go to the bank in person.