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OCBC FRANK Credit Card Review


  • 6% cashback for online shopping, including fashion retail, travel bookings
  • 5% cashback on weekend cafes and entertainment outlets
  • Low minimum monthly spend of $400


  • Monthly cashback capped of $60
  • 0.3% cashback on all transactions if minimum monthly spend is below $400.
  • Online spend on utilities, dining, groceries, and others categories not rewarded
Summary of Product
Highest Cashback Rate: 6%
Minimum Monthly spend: $400
Income Requirement: $30,000 (Singaporeans/PR), $45,000 (Foreigners)
Minimum Age: 21
Annual Fee (Waiver): $80 (First 2 years waived)

Table of Content

Why should you choose OCBC FRANK credit card

How much do you spend online per month?

OCBC FRANK credit card is a great first card if you’re fresh out of university and want to start enjoying high cashback rates on online shopping without a high minimum monthly spend. The minimum monthly spend of $400 to qualify for the cashback rate is one of the lowest in the market. For this reason, the OCBC Frank is a great card for millennials and young adults.

Do you spend regularly on shopping, entertainment and travel?

OCBC FRANK credit card offers 6% cashback on online shopping on selected merchants; up to 5% cashback on weekend entertainment on selected merchants (3% on Monday to Thursday). It also earns 6% cashback on all online travel and hotel bookings. However it offers just 0.3% cashback on all transactions if your minimum monthly spend falls below $400.

Is an annual fee a major consideration?

If the annual fee is a major consideration, then OCBC FRANK credit card is worth considering with its low annual fee of $80. The first two years of the annual fee are also waived.

Using the OCBC FRANK credit card in your favour

While not offering the highest cashback rate, the OCBC FRANK credit card is a great first card for young adults who often shop and book travel trips online. You’ll need to spend a minimum monthly spend of $400 -- one of the lowest in the market -- to achieve the 6% cashback rate on online spend. However, do remember the maximum monthly cashback cap is $60 and the card also does not offer rebates on utilities, dining, groceries, and recurring bills.

Who can apply?

Age Eligibility At least 21 years of age
Income Eligibility Singaporeans/PRs: $30,000 of annual income
Foreigners: $45,000 of annual income

Charges or fees you should be aware of

Annual Fees $80 (First 2 years waived)
Late Payment Charge $100
Interest on Purchases 26.88% per annum if full payment is not made by payment due date.
Interest on Cash Advance 28.92% per annum on the amount withdrawn from the transaction date until the date that full payment is made.

How to apply?

Decide to pick up this card? Click on the “Apply Now” button and complete the application form on SingSaver site.

Here is what you will need during the application process:
  • Front and back of NRIC/Passport/Employment Pass
  • For salaried employees,
    • Past 12 months CPF statement (if Singaporean/PR); OR
    • Latest Income Tax Notice of Assessment and latest original computerised payslip
  • For self-employed,
    • Latest Income Tax Notice of Assessment and latest original computerised payslip

Similar cards to consider

Daunted by the minimum spend or looking to compare it with another cash back card?

No minimum spend cashback card: Standard Chartered Unlimited Credit Card
Shopping Credit Card: UOB YOLO Card
Dining Credit Card: Citibank Cashback Card

Looking for other credit cards? Check out the Best Credit Cards in Singapore 2020.