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OCBC Frank Credit Card

by Kshitiz V Sharma on

The Bottom Line

OCBC Frank Card
Good Entry Level Credit Card

8% cashback on online, mobile contactless and foreign currency transactions with a S$100 per month cap.

Monthly Spend S$1K S$2K S$4K S$6.5K S$10K
Net Reward Yield 2.9% 2.3% 1.5% 0.9% 0.7%
Est. Monthly Reward (S$) 30 45 55 60 70
All-Singapore Rewards Rank* 4 11 35 48 51
Within Bank Rank* 1 1 6 6 7
* Based on est. net reward yield for more than 70 credit cards in Singapore, for each monthly spending level. Read about how we calculate the net reward yield here & here.

The OCBC Frank Credit Card gives 8% cashback on all online, mobile contactless and foreign currency transactions with a monthly cap of S$100.

You can also earn 10% cashback on select “green” merchants including Scoop Wholefoods & Little Farms.

While the cashback rate of 8-10% is high, it is undermined by very low category level caps.

You can earn a maximum of S$25 each month for all online and mobile contactless transactions put together and you can earn another S$25 each month on foreign currency transaction.

This means you only earn the cashback on the first S$312.50 you spend on these two categories each month.

The balance S$50 of cashback must be earned on all other transactions at a low 0.3% cashback rate – meaning you need to spend a whopping S$16,667 to earn S$50.

Overall, we estimate you can earn a reward yield of 0.7 – 2.9% on all spending with this card in a month.

The Rewards

Card OCBC Frank Credit Card
Card Type Cashback
Cashback Features 8% Cashback* on all:
– Online Transactions
– Mobile Contactless Transactions
– Foreign Currency Transactions

10% Cashback at:
– Scoop Wholefoods
– Little Farms
– SimplyGo
– BlueSG

*subject to a minimum S$800 spent each year on Singapore Airlines, Scoot and KrisShop

Cashback Caps S$100 / mth
Other Rewards & Benefits
Preferred Redemption Method Cashback against statement balance

Fees & Charges

Card OCBC Frank Credit Card
Income Criteria S$30,000
Annual Fee S$80 ( 3rd Year onwards)
Min. Annual Credit Card Spend
for Fee Waiver
Supplementary Card Fee Free
Interest Rate 27.88% p.a.
Foreign Currency Markup 3.25%
Cash Advance Charge 6% or $15, whichever is higher

The Best Credit Cards in Singapore

The Maybank Family & Friends Credit Card is the best credit card in Singapore if you charge less than S$4,000 a month to your card.

It has the highest cashback rate of 8% on 5 spending categories of your choice and also the highest monthly cashback cap of S$125.

We estimate you can earn a reward yield of 3.0 – 4.8% with this card on monthly spends between S$800 – 4,000.

The KrisFlyer UOB Credit Card is the best rewards card in Singapore for monthly spends above S$4,000 a month.

You can earn up to 3 miles per dollar spent with this card on dining, travel & online fashion and 1.2 miles per dollar on most other transactions.

We estimate you can earn a reward yield of 2.5 – 2.8% on all your spending with this card.

The Citi Cash Back+ is the best cashback credit card if you spend more than S$7,800 a month on your card. Its cashback rate of 1.60% with no caps, overall or by category, is one of the highest in Singapore.

Learn more about which is the best card for you by reading our pieces on the best rewards card, the best cashback card and the best card combos in Singapore.

If you drive, consider our piece on the best card for petrol and if you’re a travel bug, read about the best card for travel.

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