OCBC FRANK Credit Card
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Summary
OCBC FRANK Credit Card Review 2024
The new OCBC FRANK credit card now offers a market-leading up to 10% cashback on online spending and mobile payments, perfect for covering your everyday spending needs.
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Card Features & Details
1) Key Features
- Earn up to 10% cashback when you spend across more categories
- Minimum spend of S$800 is required to earn the maximum cashback capped at S$100 monthly
- The annual fee for both principal and supplementary card waived for the first two years
2) Benefits
Cashback
- 0.3% base cashback earn rate (capped at S$25 a month) on all eligible purchases with no minimum spend
- 8% cashback (capped at S$25 a month) on all foreign currency purchases online and in-store
- 8% cashback (capped at S$25 a month) on local online and contactless mobile transactions made via Apply Pay, Samsung Pay, Google Play, Fitbit Pay, or Garmin Pay
- 2% bonus cashback (capped at S$25 a month) when you transact online or in stores with selected Green Merchants such as BlueSg, SimplyGo, Boxgreen, Scoop Wholefoods, Little Farms, and more
- S$800 minimum spend per month required to earn the maximum 10% cashback
3) Eligibility
- Age: 21 years old and above for principal card
- 18 years old for supplementary card
- Citizenship: Singaporeans, PRs & Foreigners
- Minimum annual income:
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4) Fees & Charges
- Annual principal fee: S$194.40 (inclusive of GST)
- Supplementary card annual fee: S$97.20 (inclusive of GST)
- Late payment fees: S$100
- Repayment grace period: 23 calendar days from statement date
- Your minimum payment amount will be calculated as:
undefinedundefined - Cash advance charges: S$15 or 8% of the amount drawn, whichever is higher.
- Overlimit fee: S$40, if the total outstanding balance (including unbilled balance) of all credit card(s) exceeds customer’s combined credit limit on any day within the statement period, charged to the credit card with the earliest statement cycle and highest outstanding balance.
Frequently Asked Questions
Can you enjoy annual fee waiver for the OCBC FRANK Credit Card?
- Yes, the annual fee for the OCBC FRANK Credit Card of S$194.40 (inclusive of GST) is waived for the first 2 years. The same applies to the supplementary card annual fee of S$97.20 (inclusive of GST)
- You will need to have a minimum spending of S$10,000 in one year, starting from the month after your FRANK Credit Card was issued to qualify for automatic annual fee waivers past the first 2 years.
Who should apply for the OCBC FRANK Credit Card?
- The OCBC 365 Card is ideal for trendy executives who spend online or via contactless mobile transactions
What is the minimum income requirement for the OCBC FRANK Credit Card?
- Minimum annual income:
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Summary
OCBC FRANK Credit Card Review 2024
The new OCBC FRANK credit card now offers a market-leading up to 10% cashback on online spending and mobile payments, perfect for covering your everyday spending needs.
Product Page Transparency
Pays to access additional features
Card Features & Details
1) Key Features
- Earn up to 10% cashback when you spend across more categories
- Minimum spend of S$800 is required to earn the maximum cashback capped at S$100 monthly
- The annual fee for both principal and supplementary card waived for the first two years
2) Benefits
Cashback
- 0.3% base cashback earn rate (capped at S$25 a month) on all eligible purchases with no minimum spend
- 8% cashback (capped at S$25 a month) on all foreign currency purchases online and in-store
- 8% cashback (capped at S$25 a month) on local online and contactless mobile transactions made via Apply Pay, Samsung Pay, Google Play, Fitbit Pay, or Garmin Pay
- 2% bonus cashback (capped at S$25 a month) when you transact online or in stores with selected Green Merchants such as BlueSg, SimplyGo, Boxgreen, Scoop Wholefoods, Little Farms, and more
- S$800 minimum spend per month required to earn the maximum 10% cashback
3) Eligibility
- Age: 21 years old and above for principal card
- 18 years old for supplementary card
- Citizenship: Singaporeans, PRs & Foreigners
- Minimum annual income:
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4) Fees & Charges
- Annual principal fee: S$194.40 (inclusive of GST)
- Supplementary card annual fee: S$97.20 (inclusive of GST)
- Late payment fees: S$100
- Repayment grace period: 23 calendar days from statement date
- Your minimum payment amount will be calculated as:
undefinedundefined - Cash advance charges: S$15 or 8% of the amount drawn, whichever is higher.
- Overlimit fee: S$40, if the total outstanding balance (including unbilled balance) of all credit card(s) exceeds customer’s combined credit limit on any day within the statement period, charged to the credit card with the earliest statement cycle and highest outstanding balance.
Frequently Asked Questions
Can you enjoy annual fee waiver for the OCBC FRANK Credit Card?
- Yes, the annual fee for the OCBC FRANK Credit Card of S$194.40 (inclusive of GST) is waived for the first 2 years. The same applies to the supplementary card annual fee of S$97.20 (inclusive of GST)
- You will need to have a minimum spending of S$10,000 in one year, starting from the month after your FRANK Credit Card was issued to qualify for automatic annual fee waivers past the first 2 years.
Who should apply for the OCBC FRANK Credit Card?
- The OCBC 365 Card is ideal for trendy executives who spend online or via contactless mobile transactions
What is the minimum income requirement for the OCBC FRANK Credit Card?
- Minimum annual income:
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3.2
34 Reviews
Service Rating
Speed of Approval
Ease of Fee Waiver
Customer Support
High to Low
Posted 22 Apr 2022
Purchased
OCBC FRANK Credit Card
[Card Hacks] 1. Can choose most basic design, almost totally black... basically look EXACTLY like the card image on the frank card website 😊 2. YOU CAN ACTUALLY MAKE YOUR CARD INTO ATM CARD + EZLINK so all you need is one card forever lol. (pls google how to make it atm card, I did it almost close to 10 years ago I already forgotten how to do it haha ) [Fee Waivers] Automatically applied every year if hit the min. spending $10k per year tho! [Useful For...] as MRT card, please google how to do that :P , better still... after that add the card it to apple pay and you don't event need to bring the physical anymore (except if your phone always run out of batt, hee)0
What are your thoughts?Posted 11 Feb 2022
Purchased
OCBC FRANK Credit Card
I like this card best out of DBS Live Fresh and UOB EVOL which are essentially the same thing. It is no-frills 6% back on essentially every single thing (DBS is 5%, UOB is just a trick with lots of sneaky exclusions on Giant, Cold Storage etc. and no way to hit their advertised 8%) and it is not hard to hit the minimum spend. One thing to watch out for is that the monthly spend is based on posting date, not transaction date, so be careful if you are spending on the last couple days of each month as it may be posted in the next month.0
What are your thoughts?08 Jun 2020
Purchased
OCBC FRANK Credit Card
Note that from 1 July 2020, OCBC will revise their spend criteria to a total $600 minimum spend. While it is “higher” (you only had to hit $400 offline previously) the advantage is it now counts both online and offline expenses, so it’s easier to both track and hit this quota to maximise the new rebates available, which are mostly good with higher % cashbacks. All other transactions are at 0.3% instead of 0.1%, and the 6% cashback is now applicable to 2 other types of spending: in-store mobile contactless payments or in-store purchases in foreign currency. Both are difficult to do now in as malls stay closed and travel is limited in this time of COVID-19, but something definitely doable when the restrictions finally lift. Do note however that the cashback cap for online spend has been reduced from $60 to $25 — for cardholders who indulge in online shopping, this effectively means in order to maximise the 6% rebate for every online dollar spend, you can only spend about $417 monthly compared to $1000 before (the old $60 rebate cap is exactly 6% of a $1000 spend). That said, it’s an easy workaround by spreading out your online purchases across months. This card may be marketed to students or young professionals, but it’s really great for anyone who does a fair bit of shopping online, and now also offline and overseas! Even with the revised card benefits and spend criteria, this is still one of the better cashback cards available.0
What are your thoughts?20 Nov 2019
Purchased
OCBC FRANK Credit Card
Though OCBC Frank card don't have much perks compare to the other mainstream cards, however with its low entry of offline spending (at least $400), in comparison to a high $800 min spend card, it can be a relatively useful card. It is best coupled with the OCBC 365 savings account to maximise the cashback component for the account (meeting $500 CC spend) and on top, you get the Frank's card cashback rebate. Good for low-spenders.0
What are your thoughts?Posted 16 Nov 2019
Purchased
OCBC FRANK Credit Card
This card is great for students and fresh grads, easy to apply and there are a lot of designs to choose from!0
What are your thoughts?Posted 22 Feb 2022
Purchased
OCBC FRANK Credit Card
Can get 6% cashback ($25 per category [mobile contactless and online] = cap of $417 = total cap of $834). To actually get fee waiver need to hit >$10k which is approximately the same as $834 x 12 = $10008. OCBC is not known for granting fee waivers liberally but otherwise this is an okay card.0
What are your thoughts?Posted 09 Dec 2021
Purchased
OCBC FRANK Credit Card
OCBC offer me this card. Now I only focus on one card, which is Frank. [Cashback Card] Able to get 6% rebate for online and in-store mobile payment, $25 each every month, get a rebate of $50 monthly. Monthly spending for each category is around $420 for me, total $840. [Fee Waivers] Still within my 2 yrs free waiver period but based on my experience with OCBC, they are super strict to the $10k threshold. [Customer Service] Try your luck when you call in, weekend seems to be easier.0
What are your thoughts?Posted 20 Nov 2019
Purchased
OCBC FRANK Credit Card
Owned this card since I was a student, and would recommend especially for the younger folks. Promotions and perks are be quite appealing at times, so do keep a lookout for them when available!0
What are your thoughts?Posted 19 Sep 2019
A good starter card for students since the main appeal comes form the various card designs they can choose from. Otherwise, there are better cards out there for the working adults.0
What are your thoughts?13 Jun 2018
this is a good card for students, but there are better ones out there when you start working. Hence, get it when you are a student, and then just ignore it once you have better options0
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Key Benefits of OCBC FRANK Credit Card
Mostly catered to young adults, the OCBC FRANK Credit Card rewards transactions that most millennials and young Singaporeans would engage in such as online and in-store mobile contactless spend.
You can enjoy 6% cashback on all eligible app and online purchases such as Grab, Zalora, Lazada, and more. You can also enjoy 6% cashback on in-store mobile payments via Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, and Simply GO. Plus all foreign currency purchases and transactions made over the counter and in-store.
Stand to receive up to $75 in monthly cash rebates when you spend a minimum of $600 on your OCBC FRANK Credit Card.
These are some highlights of the OCBC FRANK Card and its cashback benefits:
OCBC FRANK Credit Card Benefits | What You'll Get |
|---|---|
App and online shopping purchases (including PayPal transactions) | 6% rebate, capped at $25 (examples of qualifying merchants: Grab, Zalora, Lazada, FoodPanda, Expedia) |
In-store mobile contactless payment and in-store foreign currency transactions | 6% rebate, capped at $25 (examples of qualifying merchants: Starbucks, Zara in-store) |
All other transactions | 0.3% rebate, capped at $25 (base) |
|
OCBC FRANK Card Benefits
Eligibility for OCBC FRANK Credit Card
To be eligible for the OCBC FRANK Credit Card, you'll have to meet the following criteria:
- Must be 21 years old and above
- For Singaporeans and PRs: Minimum annual income of $30,000
- For foreigners: Minimum annual income of $45,000
Fees and Charges for OCBC FRANK Credit Card
- Annual Principle Fee: $80 (waived for first two years)
- Annual Supplementary Card fee: $40 (waived for first two years)
- Annual Fee Waiver: To enjoy annual fee waiver on FRANK Credit Card, spend a minimum of $10,000 in one year (starting from the month your card was issued)
- Interest-Free Period: 23 calendar days
- Annual Interest Rate: 26.88% p.a.
- Minimum Monthly Payment: 3% of total balance or $50, whichever is higher
- Late Payment Charge: $100
- Cash Advance Fee: 6% of the amount withdrawn or $15, whichever is higher
- Lost/Stolen Card Liability: $100
- Card Replacement Fee: Waived for up to two replacements within the first 12-month period. A $30 card replacement fee applies from the third card onwards.
How does OCBC FRANK compare?
Pros:
- OCBC FRANK Credit Card is the ideal cashback credit card if you shop online regularly (for example, buy clothes and sneakers online, or order food delivery)
- The 6% rebate on eligible online spend might be enticing for avid online shoppers.
- The 6% rebate on in-store mobile contactless payment should be okay to hit because most places accept in-store mobile contactless payment (unless you eat regularly at the kopitiam or hawker centre, then this might potentially be a problem); this is combined with in-store foreign currency transactions (ideal if you intend to spend overseas)
- 2-years fee waiver
Cons:
- The monthly rebate is capped at a total of $75 for OCBC FRANK Credit Card
- There is a minimum spend of $600 (excludes online and NETS FlashPay Top-ups and Transit Link related transactions)
Overall, OCBC FRANK Credit Card is an attractive card for young, working adults who have just started their careers. Especially if you're actively spending online or using in-store mobile contactless payments. It has a relatively low minimum spend and minimum income requirement. But if you're looking at starter credit cards and want more options to choose from, you might also want to consider the UOB YOLO Credit Card, another card targetted at the same demographic with a similar reward scheme and slightly higher cashback rates (depending on your spending habits and patterns).
Still unsure? Find out everything you need to know about credit cards - including what the best credit cards in Singapore are for miles and cashback, factors to consider before getting one, fees to know, and why a good credit score matters.
Still have questions? You can ask the Seedly Community (anonymously, if you'd prefer) for their insights and discuss which credit card you should get.
Terms and Conditions of OCBC FRANK Credit Card
- Transactions not eligible for cash rebate include: prepaid accounts and payment service providers (e.g. EZ-Link), charitable/religious organisation donations, cleaning, maintenance and janitorial services, real estate agents and bank fees. For the full list and specific conditions, please refer to FRANK by OCBC’s T&Cs.
- To be eligible for cash rebates, cardmembers must spend a minimum of $600 worth of transactions on the card in a calendar month
- Monthly cash rebates are capped at $75
- The bank determines the eligibility of cash rebates per customer by identifying online transactions and their categories with the help of Visa. These are not decided by the bank but rather the merchants and their acquiring banks. If the merchant classifies themselves under a category that falls in OCBC's list of excluded transactions, it will not be eligible for online rebates. All other retail transactions processed as an online transaction will be eligible for 6% cash rebate
How to Apply for OCBC FRANK Credit Card
- Apply Online on OCBC Official Website via the link above OR
- Visit OCBC
About OCBC
The Overseas-Chinese Banking Corporation, Limited - or OCBC Bank - is headquartered in Singapore. Its inception in 1932 was the result of a merger of three local banks. As the second-largest bank in Southeast Asia, the multinational banking and financial services has assets of close to $468 billion. It has an Aa1 rating from Moody's, and an AA-rating from Standard & Poor's.
The bank currently has over 570 branches across 18 countries and regions. Its services range from commercial banking and specialist financial and wealth management to asset management, stockbroking, insurance and treasury services.
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