OCBC FRANK Credit Card Review – 6% cashback on all online and mobile contactless payments (min $600/mth)

If you spend more than $600 a month online (e.g. Spotify, Netflix, Taobao, Lazada, Shopee) and on mobile contactless payments (e.g. dining, shopping), then the OCBC Frank Credit Card might be a delightful card to have in your pocket.

6% cashback for online transactions

Let’s start with the most straightforward value proposition of this card – 6% cashback on online spending (including FavePay).

A list of other online spending includes

  • Online entertainment (e.g. Netflix, Spotify, Youtube Premium)
  • Online shopping (e.g. Lazada, Shopee, Qoo10, Redmart, ASOS, Taobao)
  • Online food delivery (e.g. Grabfood, Foodpanda)
  • Online/in-app app transactions (e.g. Grab rides)

6% cashback for mobile contactless transactions

At the same time, you get 6% cashback for mobile contactless transactions including

  • Paying with your phone or watch through Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and Garmin Pay

0.3% on other spending

All other transactions (excluding prohibited transactions under certain MCCs like e-wallet topups) that don’t fit in the above 2 categories will be categorised as other spending.

For example, if you swipe your card to make payment at the store – this gives you 0.3% cashback.

$25 cap per category each month

The cashback cap is $25 per category each month, which is equivalent to $416 of spending in each category (online + mobile contactless).

Assuming you only spend $300 per category per month and have no other spend, then you are looking at a monthly cashback of $36.

Note that this cashback amount is only given if you meet the minimum spending of $600 per month.

If you don’t, then the cashback falls to a base rate of 0.3% on all qualifying spend, which means a basic cashback card like the Citi Cashback+ Mastercard is 5x more valuable.

An improvement from the previous OCBC FRANK card

This new FRANK card has a new set of T&Cs which grants the 6% cashback to in-store mobile contactless transactions in addition to online transactions, making it a very viable everyday card.

At the same time, it raises the minimum monthly qualifying spend to $600, which is relatively attainable.

A card for executives and consistent spenders

This new OCBC FRANK card improves upon its initial implementation and now is more suitable as an everyday card.

For those with consistent $600 spending across online and mobile contactless categories, this is a very straightforward card to recommend for its generous 6% cashback.

OCBC Frank Card

Receive S$50 cashback and S$50 Grab vouchers for new OCBC cardmembers

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