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OCBC Titanium Rewards cards switching to monthly bonus spend cap

From 1st November 2023, OCBC Titanium Rewards cardholders will face a monthly spend cap for bonus miles transactions, replacing the more generous annual limit.

Those holding the OCBC Titanium Rewards card in Singapore will no doubt be grateful for one of the product’s biggest selling points – the ability to earn a 4 mpd rate on selected online and in-store retail transactions, with an upper spend cap of S$13,335 per year.


That makes the card great for big-ticket purchases in categories like furniture, electronics and department store spend, which has been unique to the OCBC Titanium Rewards since the Citi Rewards cards shifted to a monthly spend limit for 4 mpd transactions back in October 2018.

Unfortunately from 1st November 2023, OCBC is changing the rules for this card and shifting to the more commonly-seen monthly spend cap for bonus transactions, while at the same time tweaking the categories eligible for this higher bonus earn rate.

Here are the details.

For spend made from 1st November 2023, OCBC Titanium Rewards cardholders will now have their bonus 4 mpd spend capped at 10,000 OCBC$ per calendar month, rather than the previous 120,000 OCBC$ per card membership year.

Period Bonus OCBC$ Spend equivalent
Until 31 Oct 2023 120,000
per membership year
per membership year
From 1 Nov 2023 10,000
per calendar month
per calendar month

That means the maximum spend in the 4 mpd category will be S$1,110 per calendar month, compared to S$13,335 per card membership year.

The 4 mpd (10x OCBC$) rate for spending in bonus categories on the Titanium Rewards cards within specific Merchant Category Codes (MCCs) is currently capped at 120,000 bonus OCBC$ per card membership year (53,340 miles or S$13,335 of annual spending in these categories).

This is being amended to 10,000 OCBC$ per calendar month. That’s S$1,100 of spending per month, severely impacting your ability to take advantage of the higher earning rate for a large one-off purchase.


It also effectively reduces the realistic annual bonus points cap for this card. While before it was relatively easy to hit the annual 120,000 OCBC$ cap, then stop spending on the card, from November 2023 you would have to transact exactly S$1,100 in the bonus categories in each calendar month 12 times in a row, something you are highly unlikely to be able to achieve precisely, even with careful planning.

Effectively this guarantees OCBC will have to shell out fewer points overall to Titanium Rewards customers each year.

If your OCBC Titanium Rewards card anniversary is in November 2023, your 120,000 OCBC$ earning window will end on 31st October 2023 and you will then shift to the 10,000 OCBC$ cap from 1st November 2023.

However, if your card anniversary date is in December 2023 or later, you’ll potentially be able to enjoy a higher overall cap during the card membership year, because you’ll be tapping some of the annual 120,000 OCBC$ limit and some of the 10,000 OCBC$ monthly limit.


For example, if your card membership year is 1st January to 31st December, you’ll actually get a 140,000 OCBC$ membership year limit, structured as follows.

Period Bonus cap
1 Jan 2023 – 31 Oct 2023 120,000 OCBC$
1 Nov 2023 – 30 Nov 2023 10,000 OCBC$
1 Dec 2023 – 31 Dec 2023 10,000 OCBC$
Total 140,000 OCBC$

In this example, if you haven’t reached the 120,000 OCBC$ cap for the card membership year yet, you still have until 31st October 2023 to do so. You’ll then get a further 10,000 OCBC$ bonus cap per month in November and December 2023.

The OCBC Titanium Rewards cards currently offer bonus 10x OCBC$ (4 mpd) earning on a range of specific Merchant Category Code (MCC) spend, plus spend at specific named retailers, regardless of their MCC.

Here’s how the list looks including the changes coming up from 1st November 2023, with some  additions and  deletions in store from that date.

Eligible MCC List
  Eligible MCCs Example Merchants
MCC 5045
Computers, Computer Peripheral Equipment, Software
MCC 5732
Electronics Stores
Apple, Best Buy, Challenger, Dell, Best Denki, Gain City, Harvey Norman, Prism+
MCC 5309
Duty Free Stores
King Power, KrisShop, Lotte Duty Free, Shilla Duty Free
  MCC 5311
Department Stores
Isetan, Marks & Spencer, Metro, Takashimaya, TANGS
  MCC 5611
Men’s and Boys’ Clothing and Accessories Stores
Benjamin Barker, Christian Louboutin, Edit Suits, Timberland
  MCC 5621
Women’s Ready to Wear Stores
bYSI, Her Velvet Vase, In Good Company, Klarra, Mothercare, Yacht 21, Zara
  MCC 5631
Women’s Accessory and Specialty Stores
Hermes, Love Bonito
  MCC 5641
Children’s and Infants’ Wear Stores
Cotton On Kids, Kiddy Palace, Kids21, Pupsik Studio
  MCC 5651
Family Clothing Stores
ASOS, Burberry, Club 21, Uniqlo
MCC 5655
Sports Apparel and Riding Apparel Stores
Adidas, Lululemon, Nike, On Running
  MCC 5661
Shoe Stores
ALDO, Charles & Keith, Foot Locker, Cole Haan, Onitsuka Tiger, Skechers
  MCC 5691
Men’s and Women’s Clothing Stores
G Star Raw, G2000, H&M, Prada, Pull & Bear, Suitsupply, Zalora
  MCC 5699
Miscellaneous Accessory and Apparel Stores
CarouPay, Chanel, Cotton On, Ferragamo, Qoo10, Reebonz
MCC 5941
Sporting Goods Stores
Decathlon, FILA, New Balance, Outdoor Life, PUMA
MCC 5948
Leather Goods and Luggage Stores
Bottega Veneta, Bynd Artisan, Coach, Louis Vuitton, Rimowa, Zero Halliburton
Eligible Merchant List
  Alibaba   Lazada
  AliExpress   Mustafa Centre^
  Amazon^ NTUC Unity
Courts   Qoo10
  Daigou   Shopee*
  Ezbuy   TaoBao
Guardian TikTok Shop
IKEA Watsons

^ Except transactions that fall under MCC 5411, including Amazon Fresh
* Except Shopee Pay transactions under MCC 5262

The loss of computer and electronic stores like Apple, Harvey Norman and Best Denki, plus specific merchants Courts and IKEA falling by the wayside, is disappointing as these were often useful places to make big-ticket purchases (though those too will no longer be possible).

Some useful additions include Duty Free Stores, which includes KrisShop and KrisShop via Kris+ purchases. There are also some sports and luggage stores added to the list, plus specific pharmacies Guardian, NTUC Unity and Watsons.

However, do note that smaller pharmacies like Woods Pharmacy and Essentials Pharmacy code under MCC 5912 and are not included in the card’s 4 mpd bonus earn category, since that MCC is not on the list and the merchants are not named specifically.

The OCBC Titanium Rewards card comes in both a Blue and a Pink version, which are otherwise identical to one another.

It’s possible to get both cards (or a second card, if you currently only have one), effectively doubling your bonus category spend cap.

Under the current annual cap that means you’ll get 4 mpd on S$26,670 of spend (S$13,335 x 2), and under the new monthly cap you’ll get 4 mpd on S$2,220 of spend (S$1,110 x 2). You just have to be careful to switch to the second card after hitting the cap on the first one.

Remember, there’s no annual fee for either card for the first two years, and after that provided you churn $10,000+ of spending through each one per year, you won’t ever be charged one.


Between now and 31st October 2023, you can get a new OCBC Titanium Rewards card with a gift via SingSaver as a new-to-bank customer, as outlined below.

Apple Watch SE (Gen 3) (worth S$271.50)
S$200 eCapitaVoucher
S$180 cash via PayNow


Terms and conditions for this sign-up promotion are available here.

Here are the old and new terms and conditions documents for the OCBC Titanium Rewards cards, plus a link to the bank’s FAQs document regarding these changes.

  OCBC TR T&C (current)
  OCBC TR T&C (from 1 Nov 2023)
  OCBC TR changes FAQs


The most disappointing aspect of these changes to the OCBC Titanium Rewards cards from 1st November 2023 is undoubtedly the shift from an annual bonus cap to a monthly one, eradicating its use for big-ticket purchases like furniture and electronic goods.

This was the card’s main selling point and differentiator in the market, so the change significantly damages its appeal.

OCBC is also removing computer and electronics stores from the earning list, plus stores like Courts and IKEA, where many of these big-ticket purchases were inevitably made.

Gone will be the days of rocking up at IKEA and buying S$13,000 worth of stuff for your house using your OCBC TR card, netting 52,000 miles in the process. The monthly cap for bonus spend will be S$1,110, and IKEA is also scrubbed from the bonus list!

The good news is you’ve still got until the end of October 2023 to use up your 120,000 OCBC annual cap before the monthly limit kicks in.


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