The OCBC Frank Credit Card is an excellent card for young adults who want to earn great rewards, without needing to have a high-spend budget. This card offers 6% on online purchases, 6% on mobile contactless spend, and 6% on FX transactions, expenditure areas that are very central to the younger generation. To qualify for these rewards, cardholders only need to spend S$600 per month, a monthly spend requirement that's around the low end of the market standard. It also offers a very affordable fee waiver with just S$10,000 annual spend. Overall, by combining benefits that are geared towards technology savvy consumers & spend requirements that are accommodating to low budgets, the OCBC Frank credit card allows young adults to start easily earning rewards on their purchases without the need to increase their monthly expenditures.
What Makes OCBC Frank Card Stand Out
This credit card stands out for its low minimum spend requirement and its annual fee waiver. With just S$600 spend per month, cardholders begin to earn elevated rewards rates on their purchases–6% on all mobile contactless, online, and FX purchases, making this card great for young adults who frequently use these modes of payments Each boosted rewards rate category has an earnings cap of S$25, giving cardholders the potential to earn a total rebate of S$75. For individuals that do not meet the minimum spend, they will earn just 0.3% on their purchases.
|Category||Rate||Minimum Spend||Earnings Cap|
The OCBC Frank Card has a very low annual fee of S$80 that is waived for the first 2 years. An individual must spend just S$10,000 annually to avoid the fee for subsequent years, meaning this annual fee can be avoided with just S$833.33 of spend per month, which is less than half of the average monthly expenditure of an average adult in Singapore. Even in instances where a cardholder does not spend a minimum of S$10,000 within a year, her cashback may be able to cover for the entire annual fee.
|Category||Rate||Monthly Purchases||Monthly Earnings|
However, there are also drawbacks to OCBC Frank Card. There are restrictions to what qualifies for the initial S$600 spend. Among other, less applicable restrictions, utility payments (electric, gas, water, and sanitary) do not count towards the minimum spend requirement. While it is quite common for credit cards to restrict utility payments for minimum spend, this may make a substantial difference in an individual’s total monthly expenditures. Additionally, in comparison to other credit cards on the market, the OCBC Frank Card’s general spend's rewards rate is quite low. Despite not having a minimum spend to qualify, the 0.3% rate offers less value for purchases when compared to other credit cards.
|Minimum Spend||General Rate||Earnings Cap|
|Maybank Platinum Visa||S$300||3.33%||S$30|
Ultimately, OCBC Frank Card does offer young adults a great, no-fee way to earn cashback from social and online spend. Especially for young adults who don't spend much on nightlife and entertainment, or offline on monthly bills and EZ-Link Auto Top Ups, OCBC Frank Card is definitely worth consideration.
How Does OCBC Frank Card’s Rewards Program Work?
Use our quick and easy-to-read guide below to learn how you you can redeem card rewards.
- Every 1 dollar of cashback earned is equal to S$1
- Cashback earned is automatically offset against the next month’s billed amount
- Cashback earned by Supplementary Cards is credited to the Primary account
- Accumulated cashback is automatically forfeited with cancellation of the card account
OCBC Frank Card Features and Benefits:
|Rewards Rate Details |
|Perks & Benefits |
OCBC Frank Card Rewards Exclusions
Some credit card expenditures are ineligible for earning rewards. We identify these exclusions below.
How does OCBC Frank Card Compare Against Other Cards?
Read our comparisons of OCBC Frank Card with other cards and learn what makes each card unique in their own way. We compare and contrast each card to highlight its uniqueness to help you identify the card that you need.
OCBC Frank Card v. UOB YOLO Card
UOB YOLO Card appeals to young adults with curated nightlife privileges plus cashback on dining, entertainment, and Grab (8% weekends, 3% weekdays). Cardholders earn 3% on online fashion spend and up to 13% on select online travel bookings. As with OCBC Frank Card, general spend earns 0.3% rebate with no earnings cap. However, there is a S$600 minimum and S$192.6 fee. Consumers prioritising no-fee cashback might prefer OCBC Frank Card.
OCBC Frank Card v. Citi SMRT Card
Young professionals with a modest budget can benefit from Citi SMRT Card’s EZ-Link functionality and rebates on everyday spend. Cardholders earn 5% cashback on fast food, groceries, and cinemas, 3% for online spend, and 2% on health & beauty and Auto Top-Ups. While there's no minimum spend requirement, the earnings cap is just S$50/month. In addition, rewards are very limited for entertainment, so OCBC Frank Card may be better for social consumers with high entertainment spend.
OCBC Frank Card v. HSBC Revolution Card
Average consumers seeking no-fee miles can earn from local dining and entertainment spend with HSBC Revolution Card. Cardholders earn unlimited 2 miles per S$1 in both categories, plus on online spend–including travel bookings, recurring bills and transit payments. HSBC Revolution Card also has no minimum requirement and the S$160.5 fee is waived with S$12,500 annual spend. This card is a great alternative, but consumers who prefer cashback to miles might prefer OCBC Frank Card.
OCBC Frank Card v. DBS Live Fresh Card
DBS Live Fresh Card doubles as an ATM and EZ-Link card and offers 5% cashback on online and contactless spend, 0.3% on general retail. Cardholders enjoy entertainment promotions like Zouk nightlife privileges. However, there is a S$600 minimum spend, a S$128.4 fee, and the monthly cap is divided into S$20/category, making it difficult to reach the S$60/month max. Consumers who are more interested in maximising cashback than in all-in-one functionality might prefer OCBC Frank Card.