OCBC World MasterCard
Earns 1.0% cashback overseas and 0.5% locally, unlimited, with lounge access.
Eligibility
Minimum Monthly Income
RM 8,333 (RM 100,000 annually)
Min. Age
Cardholder: 21 years old
Supplementary Cardholder: 21 years old
Resident Status
Anybody
Documents required to apply:
You will need to provide several documents such as (varies between different banks):
Salaried Employees (Malaysian)
- A copy of your IC (both sides)
- Latest 1-3 months salary slip
- Latest 3 months bank statement
- Latest EPF statement (3 months)
- Latest B/BE Form/E-Filing with official tax receipt
Self-Employed (Malaysian)
- A copy of your IC (both sides)
- Form 24/ 29/ 49
- A&D Form (Business Registration / Trade Licence)
- Latest B/BE Form/E-Filing with official tax receipt
- Latest 6 months bank statements
Fees & Charges
Interest Rate
15% - 18%
Annual Fee
RM 0
Free*
Annual Fee Waiver
Yes
Free for first year and spend a minimum of RM40,000 for the subsequent years to get annual fee waiver
Late Payment Fee
RM 50 or 5% of the outstanding amount, whichever is higher
Interest Rate
15%
Features
1.0% Cashback for overseas spending and 0.5% Cashback for local spending.
2X access to KLIA Plaza Premium Lounge and up to RM2,000,000 travel insurance.
Convert big purchases into manageable instalments, with a one-time handling fee as low as 2% for tenures of up to 20 months.
Transfer credit card balances from other banks to an OCBC card with interest rates as low as 2.88%, with no one-time processing fee.
Cardholders get 2 complimentary visits a year to the KLIA Plaza Premium Lounge, with access to food and beverages, entertainment, and a 24-hour concierge service for booking needs.
Benefits
Benefits of the OCBC World Mastercard
- Earn 1% unlimited cashback on eligible overseas spending in foreign currencies.
- Earn 0.5% unlimited cashback on eligible local spending in Ringgit Malaysia.
- No monthly or annual cashback cap, allowing you to earn cashback on all eligible retail spending.
- Enjoy two complimentary Plaza Premium Lounge visits each calendar year for both principal and supplementary cardholders.
- Receive complimentary travel insurance of up to RM2 million when the full airfare is charged to your card.
- Access exclusive Mastercard World privileges and offers.
Terms and Conditions
Product review by CompareHero
What Is the OCBC World Mastercard?
The OCBC World Mastercard is a premium cashback credit card designed for cardholders who frequently spend overseas and want straightforward rewards without having to track spending categories or cashback caps. It offers 1% unlimited cashback on eligible overseas spending and 0.5% unlimited cashback on eligible local spending, with cashback credited automatically to your credit card account.
In addition to cashback, the card includes travel benefits such as two complimentary Plaza Premium Lounge visits each calendar year and complimentary travel insurance of up to RM2 million when you charge the full airfare to your card. These features make it a practical option for frequent travellers looking to earn cashback while enjoying added travel privileges.
Unlimited Cashback on Local and Overseas Spending
The OCBC World Mastercard rewards eligible retail spending with cashback instead of points, making it easy to enjoy savings without having to redeem rewards manually.
Eligible overseas spending in foreign currencies earns 1% unlimited cashback, while local spending in Ringgit Malaysia earns 0.5% unlimited cashback. Unlike many cashback credit cards, there's no maximum cashback limit, so you'll continue earning cashback regardless of how much you spend on eligible transactions.
Cashback is credited automatically to your credit card account at the end of each billing cycle.
Travel Benefits
The OCBC World Mastercard includes travel benefits that can help make your trips more comfortable and provide added peace of mind.
Both principal and supplementary cardholders receive two complimentary Plaza Premium Lounge visits per calendar year at participating locations. Once the complimentary visits have been used, you can continue enjoying lounge access at the prevailing rate offered by Plaza Premium Lounge.
When you charge the full airfare for your trip to the card, you'll also receive complimentary travel insurance of up to RM2 million. Coverage includes accidental death and permanent disability, subject to the policy's terms and conditions.
Cardholders can also enjoy selected Mastercard World privileges, including promotions from participating travel, dining, shopping, and lifestyle merchants.
Eligible Cashback Transactions
The OCBC World Mastercard earns cashback on eligible retail spending, including local and overseas purchases, online shopping, recurring and auto-debit payments, Instalment Payment Plans (IPP), as well as mail and telephone orders.
Cashback isn't awarded for non-retail transactions such as Easy Payment Plan (EPP), Balance Transfer, cash advances, government-related payments, JomPAY, FPX, DuitNow QR transactions, or other fees and charges. Transactions made in the United Kingdom and countries within the European Economic Area (EEA) are also excluded.
Fees and Charges
The principal and supplementary cards enjoy a first-year annual fee waiver. From the second year onwards, the annual fee is waived if you spend at least RM40,000 on retail transactions during your membership year. This annual fee waiver is available until 31 December 2026.
- Annual fee (principal): RM388 per year. Waived in the first year, with subsequent annual fee waivers when you meet the annual retail spending requirement.
- Annual fee (supplementary): RM188 per year. Waived in the first year, with subsequent annual fee waivers when the annual retail spending requirement is met.
- Government service tax: RM25 per card upon activation and every anniversary thereafter.
- Cash advance: Interest is charged at 18% p.a.from the transaction date, together with a cash advance fee of 5% of the amount withdrawn or RM20, whichever is higher.
- Minimum monthly payment: The higher of RM50, or 5% of your new balance plus 100% of any contracted instalment amounts, including instalment plans and balance transfers.
- Late payment fee: 1%of your outstanding retail and cash advance balance, or RM10, whichever is higher, capped atRM100.
- Overseas transaction fee: 1.00% on top of the Mastercard currency conversion rate.
Eligibility Requirements
To apply for the OCBC World Mastercard, you must:
- Be at least 21 years old.
- Earn a minimum annual income of RM100,000.
Required Documents
The documents you'll need depend on your employment status. If OCBC is unable to verify the documents you've submitted, it may request additional supporting documents before processing your application.
Salaried employees at multinational companies, publicly listed companies, government-linked companies, or government agencies
- MyKad (front and back), or passport with a valid work permit for foreigners
- Latest one month's salary slip (fixed income), or latest three months' salary slips (variable income)
Alternatively:
- Latest EPF statement with at least three months' contributions
- Latest Borang B/BE or e-Filing with proof of tax payment
Salaried employees at other companies
- MyKad (front and back), or passport with a valid work permit for foreigners
- Latest three months' salary slips
- Latest three months' supporting bank statements
Alternatively:
- Latest EPF statement with at least three months' contributions
- Latest Borang B/BE or e-Filing with proof of tax payment
Self-employed applicants (more than two years in the current business)
- MyKad (front and back), or passport with a valid work permit for foreigners
- Form 24/29/49
- Business Registration certificate or printout from SSM, CTOS, or CBM
- Latest Borang B/BE or e-Filing with proof of tax payment
Depending on your income:
- Six months' salary slips and supporting bank statements (except sole proprietors)
- Six months' principal business bank statements (shareholding above 50%)
- Latest EPF statement with at least three months' contributions (except sole proprietors)
Commission earners
- MyKad (front and back), or passport with a valid work permit for foreigners
- Six months' commission statements and supporting bank statements
Great Eastern agents should instead submit an HR confirmation letter together with their latest Borang B/BE or e-Filing with proof of tax payment.
Foreigners and Malaysians working overseas
- Salaried applicants: latest three months' salary slips and supporting bank statements, or CPF statement (Singaporeans and Malaysian PRs in Singapore), plus a valid work permit or Permanent Resident ID
- Self-employed applicants: latest tax assessment from the country of employment, plus a valid work permit or Permanent Resident ID
How to Apply
If you meet the eligibility requirements, prepare the required supporting documents before submitting your application.
When you apply through CompareHero, you can compare the latest credit card promotions in one place. Eligible applicants may also enjoy exclusive sign-up offers when available, subject to the campaign's terms and conditions.