FAQ

FAQ

Cards


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		1. What is the FairPrice Plus Card all about? What’s so special?
		2. What is the difference between the credit card and the enhanced ATM card (debit card)?
		3. What are the criteria for both the FairPrice Plus credit card and the enhanced ATM card (debit card)?
		4. What does “fPLUS” stand for?
		5. Why can’t NTUC FairPrice accept all credit cards like some other supermarkets?
		6. What is the difference between a normal ATM card and the FairPrice Plus enhanced ATM Card (debit card)?
		7. Is my enhanced ATM card (debit card) safe?
		8. What happens if someone uses my FairPrice Plus card without my permission?
		9. Is there any charge on my FairPrice Plus card?
		10. (Credit Card) What happens after the 3-year fee waiver has expired?
		11. (Credit Card) What is the interest free repayment period on my FairPrice Plus Credit Card?
		12. (Credit Card) What do you mean by “interest-free repayment of 52 days”?
		13. (Credit Card) What are the other fees and charges on my FairPrice Plus Credit Card?
		14. (Credit Card) How much credit limit do I get? If I have OCBC Credit Cards, do I get double the credit limit?

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1. What is the FairPrice Plus Card all about? What’s so special?

FairPrice Plus gives you the flexibility of a Savings account (with an attractive interest rate) that comes with a payment card (allows you to make payments with NETS and VISA) and loyalty program (with the LinkPoints loyalty program). All these offerings are bundled together into 1 main product offering known as FairPrice Plus, which simplifies your savings and mode of payment.

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2. What is the difference between the credit card and the enhanced ATM card (debit card)?

Both cards enable NETS and VISA transactions. They are accepted at all FairPrice outlets and over 24 million merchant outlets worldwide. Both cards also earn the same amount of points in the LinkPoints loyalty program as well as all the same promotional offers and benefits.

The only difference is that the enhanced ATM card (debit card) uses funds you maintain in your FairPrice Plus savings account. The credit card gives up to 52 days interest free repayment period for signature-based transactions

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3. What are the criteria for both the FairPrice Plus credit card and the enhanced ATM card (debit card)?

Credit Card	Enhanced ATM Card (Debit Card)
o Age: min. 21 years	o Age: min. 16 years
o Income: S$30k for Singaporeans & PR / S$60k for Foreigners / S$15k for retirees	o Income: No income requirement

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4. What does “fPLUS” stand for?

fPLUS is an in-store payment network that allows debit and credit payments at all FairPrice outlets.

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5. Why can’t NTUC FairPrice accept all credit cards like some other supermarkets?

Whilst Credit Card is fast becoming a preferred payment mode for many affluent customers, FairPrice needs to consider the cost impact to its shoppers. The collaboration with OCBC gives FairPrice the opportunity to provide the convenience of credit card payment across its network (via the fPLUS payment network) without compromising its commitment of value to shoppers.

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6. What is the difference between a normal ATM card and the FairPrice Plus enhanced ATM Card (debit card)?

The FairPrice Plus enhanced ATM Card (debit card) allows you to pay with NETS and VISA, thereby giving you the flexibility of accessing your money anytime, anywhere, including online and overseas wherever VISA is accepted. The normal ATM card only enables you to pay with NETS, which is available only within Singapore

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7. Is my enhanced ATM card (debit card) safe?

You will not be liable for transactions occurring after the loss of your card is reported. Customers who lose their card can and should immediately call our Call Centre on 1800 820 2020 (available 24 hours daily) so that we can replace the lost card and prevent any further access to it. Customers will only be held liable for transactions conducted prior to the reporting of the loss.

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8. What happens if someone uses my FairPrice Plus card without my permission?

If your Card is lost or stolen, please call us immediately at 1800 820 2020 (available 24 hours daily). You will not be liable for any fraudulent transactions on your Card occuring after you have reported the loss to us.

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9. Is there any charge on my FairPrice Plus card?

The FairPrice Plus enhanced ATM Card (debit card) is issued free of charge, and the FairPrice Plus Credit Card is FREE for the first 3 years (annual fee of $18 is waived for these 3 years).

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10. (Credit Card) What happens after the 3-year fee waiver has expired?

The annual fee for the Card is $18 per year. You only need to spend a minimum of S$600 a year to get subsequent year waivers. This works out to be about S$50 a month which is the average amount FairPrice Shoppers spend on their groceries a month.

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11. (Credit Card) What is the interest free repayment period on my FairPrice Plus Credit Card?

The interest-free repayment period FairPrice Plus Credit Card is up to 52 days. You will have 22 days from the statement date to the due date for payment, where you will not be charged any interests.

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12. (Credit Card) What do you mean by “interest-free repayment of 52 days”?

The 52 days is calculated from the beginning of the statement date and up to the next statement due date. Example below:
o Statement Date : 16 Jan 2007
o Transaction Date: 17 Jan 2007
o Next statement Date: 16 Feb 2007
o Due date : 12 March 2007

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13. (Credit Card) What are the other fees and charges on my FairPrice Plus Credit Card?

*Description*	*Fees/Charges*
Min. monthly payment	3% of statement balance (or S$50 whichever is greater), plus any amount that is overdue and/or exceeds your credit limit
Interest charges	2% per month interest on a daily basis on the outstanding balance, and on all new transactions charged to your card from the transaction date
Cash advance fee	5% of amount withdrawn plus 2% per month interest on the amount withdrawn (calculated on a daily basis from date of withdrawal until full repayment)
Late payment fee	S$40 (if min. payment is received after the next statement date)
Reprint of statement	S$20 per statement
Returned cheque/failed GIRO	S$20

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14. (Credit Card) How much credit limit do I get? If I have OCBC Credit Cards, do I get double the credit limit?

The credit line is granted by OCBC Bank. Hence the total amount you can use on all your unsecured credit cards under you with OCBC (including FairPrice Plus) will be your credit limit which is up to 2 times your monthly income, based on regulatory requirements

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FairPrice Plus is a collaboration between NTUC FairPrice Co-operative Limited and Oversea-Chinese Banking Corporation Limited. All banking products and services, unless otherwise stated, are provided by Oversea-Chinese Banking Corporation Limited for FairPrice Plus.