OCBC and NTUC tie-ups had resulted in two different credit cards – a OCBC Plus! Visa card and a OCBC NTUC Plus! Visa card.
While I find that there isn’t much difference between the two cards, there is one distinct difference. OCBC Plus! Visa card is applicable to non union members while NTUC Plus! Visa card is only for union members.
For today’s post, I’ll be making references to OCBC Plus! Visa card (the non union one) and restricting to the benefits when using the card at NTUC.
One of the key benefits is an 8% discount on Fairprice house brands. This is a very high percentage discount for groceries. Unfortunately, the limit is that it is only applicable to Fairprice house brands. But then again, if you are not a brand conscious person, some products carrying house brands can be quite good in terms of the quality for a lesser price. This is a good choice if you are looking to save some money. And adding a 8% discount on top of an already cheaper price, it makes the whole deal even better. And NTUC does carry a number of house brands.
On top of this upfront discount, the swiped amount (or net amount spent) is still eligible for points accumulation. For this card, all points are in the form of Linkpoints (NTUC points that can be redeemed at NTUC). Every $1 spend will earn you 2 Linkpoints. And every 150 Linkpoints accumulated is equal to a $1 that can be used to offset your next NTUC purchase.
Generally, I try to accumulate a minimum spending of $20 in single receipt because this is the amount needed to have the points credited.
And I do a redemption some time in May/June every year because that’s when the points will expire.
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Have you written about the Plus! card alone? If not, do you mind just answering my query? it is a one time payment of $10 for a lifetime loyalty card, but since the linkpoints expire so fast (in one year i understand?), so i’m not sure is it worth it at all? I wonder how long it takes to gain back that $10… a year or few years…
Hi Cheryline,
Sorry for missing out on your comment.
There is a one time fee of $23 when you first sign up as a member. And then a monthly subscription fee of $9.
The advantage of being a member compared to a non member is that you’ll get to earn a 4% rebate from all your purchases for the year (computed on a yearly basis).
In order to “breakeven” the yearly subscription fee at $108 ($9×12), you should be spending $2700 yearly, so that on computing the 4% rebates, you’ll get back $108. Spend any lesser than $2700, the subscription fee is payable using ‘own money’. And similarly, any spending above $2700, the rebates gained will be a bonus. Do note that there is a cap. 4% rebates is awarded for up to a maximum of $6000 NTUC spending only.
Using the same concept, you will need to spend another $575, to get back a rebate worth $23 to offset the one time fee. There is no time limit on how long you need to take to earn back this fee as it is only a one-time expense.
This fee is primarily to be a member. The intangible reason for wanting to be a member could be to join the union network. Other tangible benefits, other than for NTUC purchases, could be that there are other courses or activities by NTUC that offers discounts to members only. Or lower linkpoints needed redemption for a particular show/ticket. They have very good offers at times in my opinion.
You’ll get Linkpoints irregardless of whether you sign up as a member or not. But of course, if you are able to spend $2700 yearly at NTUC, it’d definitely make more monetary sense to sign up as a member due to the additional 4% rebates. Otherwise, purely from a monetary point of view, it may not make sense to spend the money and be a member unless you have use for its other benefits.
You may like to read this post to find out more – http://moremorecash.com/blog/general-others/ocbc-ntuc-plus-visa-card/.
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