Bye Bye ANZ Optimum, Hello OCBC 365

Well, as expected, the ANZ Optimum World Mastercard is no more with effect from 5 Aug 2017 (you cannot make any further transactions with the Credit Card). Of importance to note is the announcement on rewards redemption, which i quote:

Rewards redemptions: All unused ANZ Rewards Points/Travel$/Optimum$ will be transferredto your existing or new DBS/POSB credit card for redemption. ANZ Rewards Redemptions will cease prior to the transfer date as outlined below:

  1. 17 July 2017 – All Rewards redemptions excluding KrisFlyer Miles and Cash Credits
  2. 24 July 2017 – KrisFlyer Miles and Cash Credits redemptions

Thankfully i was able to make my very last Optimum$ redemption on 18 July. I am quite sure that DBS will not be as generous as ANZ. I reckon that you may not get the dollar equivalent rewards transferred to the new DBS Credit Card you will be getting.

Another charity program bites the dust. Thank you ANZ, and farewell.

The Credit Card taking over the place of ANZ Optimum World Mastercard is the OCBC 365. It offers 3% cashback on dining, online shopping and groceries with a minimum monthly spend of $600. No, it’s not half as good as the ANZ Optimum card, which offered 5% cashback on dining AND hotel AND leisure (if you chose the dining and leisure category, which is my preferred category because i go on trips often), plus 1% on all other spend, with NO MINIMUM SPENDBUT, OCBC 365 is still pretty good for what it is. I will only use the card during those months when i know i will be doing some online shopping.

To hit the $600 minimum spend, i could switch to pumping petrol at Caltex stations, which chalks up about S$250. If need be, i can also charge my groceries to the card, even though it earns 2% less cashback than i do with the Maybank Family and Friends card.

If dining and online shopping are your main categories of spending, then you might want to consider OCBC 365.

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