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Why The BOC Sheng Siong Credit Card Is A Must-Have Cashback Card For Grocery Shopping At Sheng Siong

If you shop at Sheng Siong regularly, you should already be using the BOC Sheng Siong card.


If you do grocery shopping at Sheng Siong regularly, we will assume that you are already using the BOC Sheng Siong Credit Card to pay. However, in the off-chance that you are not, we are going to explain why applying and using this card for all your future Sheng Siong transactions is pretty much a no-brainer.

Source: Bank Of China

The BOC Sheng Siong Card is what’s known as a co-branded credit card. This means that while it’s issued by the Bank of China, it predominantly targets customers of its marketing partner Sheng Siong. Co-branded credit cards tend to offer attractive perks to customers who are paying using the cards. The result is a win-win-win.

Bank of China can reach out to a wider base of customers.

Sheng Siong can offer its customers attractive perks, while at the same time, enjoy fees from the partnership.

Existing and new Sheng Siong customers get additional benefits for paying for their transactions at Sheng Siong using this co-branded credit card.

With over 60 stores in Singapore, many of which operate 24-hour and are typically located within the heartlands such as neighbourhood shopping malls or HDB housing estates, Sheng Siong is one of Singapore’s most popular supermarkets. Sheng Siong is also listed on the SGX mainboard since 2011 so you can invest in the company as well.

If, like us, you often buy groceries from Sheng Siong regularly, then the card is a must-have because of the attractive cashback it gives you on your Sheng Siong spend.

6% cash rebate on Sheng Siong spend

You get a 6% cash rebate on the first dollar for transactions made at Sheng Siong up to $45 per card each billing cycle (i.e. each month). This translates into a maximum spending of $750 each month at Sheng Siong. The best part is that there is no minimum spend required. So, even if you are an occasional shopper at Sheng Siong, it’s still equally useful for earning you the cashback.

Additional 6% cash rebate on Sheng Siong Spend                                                     

This part is a little confusing so bear with us as we try our best to explain it.

You can get an additional 6% cash rebate on your Sheng Siong spend, up to a cap of $30 per billing cycle, if you charge at least $600 of outside spend to the card.

For example, if you spend $750 on Sheng Siong and another $600 in spend outside of Sheng Siong during each billing cycle, you will not only get the initial 6% cash rebate on your Sheng Siong spend, but also an additional 6% cash rebate on your Sheng Siong spend, up to a cap of $30 per billing cycle.

0.3% cash rebate on all other spend outside of Sheng Siong. 1.6% if it’s an overseas spend

You get 0.3% for all other spends outside of Sheng Siong.

0.3% is not great and there are other cards like the Standard Chartered Unlimited that gives you 1.5% in cashback. However, the point for using the BOC Sheng Siong card for outside spending is not because of the 0.3% cashback, but to achieve the $600 in outside spend to enjoy the additional 6% cash rebate on your Sheng Siong spend.

  Per billing cycle Cash rebate
Sheng Siong Spend (6%) $750 $45 (maximum of $45)
Non-Sheng Siong Spend (0.3%) $600 $1.80
Additional rebate on Sheng Siong Spend (6%)   $30 (maximum of $30)
Total Spend $1,350 $76.80

 

From our example above, we can see that by spending $750 at Sheng Siong, we can enjoy the cash rebate of $45 (6%). However, if we spend an extra $600 outside of Sheng Siong, we also qualify for the additional 6% rebate on Sheng Siong spend (max of $30). We also get a nominal 0.3% rebate on our non-Sheng Siong spend.

This gives us a total cashback of $76.80, which translates into a cashback rate of 5.7%.

If you intend to spend more than $750 a month in Sheng Siong, get 2 BOC Sheng Siong Card

The BOC Sheng Siong card is a great cashback card for those who shop regularly at Sheng Siong.

At 6% cashback, this is pretty much unbeatable. However, the maximum cashback cap of $45 is a limitation as it means any spending made at Sheng Siong above $750 isn’t valuable.

Here’s a simple hack. For bigger families who are likely to spend more on their groceries, consider applying for two BOC Sheng Siong cards. By having two cards, it will allow you to enjoy the 6% cashback up to a maximum spend of $1,500 during each 30-day billing cycle. This translates into a cashback of $90 across both cards.

If you also want to accumulate $600 in non-Sheng Siong spend to get the additional rebate, charge the non-Sheng Siong transactions to just one of the cards only.

If you want to apply online for the BOC Sheng Siong card, you get apply for it here. Alternatively, you can get the application form as well from most Sheng Siong retail stores or print out the PDF form from their website.  Terms & conditions for the BOC Sheng Siong card can be found here.

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