OCBC FRANK Card Review: Is This The Best Credit Card For Young Adults?

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OCBC Frank Credit Card

When OCBC launched FRANK way back in May 2011, there was a lot of hype around it. FRANK was not just a credit card, it was entirely new banking experience, with savings accounts and debit cards, investing and insurance options, and the FRANK Store. Even today, FRANK is more relevant to young Singaporeans than other available banking options.

So is the OCBC FRANK credit card really the coolest and best card for young Singaporeans? Let’s analyse a few things about the card and find out.

Top reasons to consider the OCBC FRANK Card

  • Customisable FRANK card face with more than 120 designs
  • 6% cash rebate on online purchases including shopping, travel bookings, movie tickets, and Grab
  • Up to 5% rebate on entertainment – clubs, pubs, bars, cinemas, KTVs and cafes
  • 3% rebate on the first two Auto Top-Ups on NETS FlashPay
  • 0.3% rebate on all other purchases
  • Annual fee of just S$80 with a two-year waiver

How do you earn the cash rebates with your OCBC FRANK Card?
Find out more about the OCBC Frank Credit Card

Nothing comes without strings. To earn cash rebates above the nominal 0.3% for online shopping, entertainment and NETS FlashPay top-ups, you need to make transactions worth at least S$400 every month on offline or retail purchases.

So if you think you should get the OCBC FRANK Card only for the online shopping benefit, it would be a mistake. You should get this card if you intend to use it both for online shopping and offline entertainment. Your entertainment spends, if they cross S$400 every month, will ensure that you get the full possible cash rebates on all categories.

But also remember that you get 5% on weekend entertainment and 3% on weekday entertainment. So if you want to maximise the cash rebates, you’re better off using this card more from Fridays to Sundays.

Related: Best Credit Cards for Entertainment in Singapore

Now, the maximum cashback you can earn is S$60 per month. Let’s say your monthly spend looks something like this:

Category Amount spent Cashback Cash rebate earned
Weekend entertainment S$400 5% S$20
Online shopping S$250 6% S$15
2 NETS FlashPay top-ups S$100 3% S$3
Other purchases S$400 0.3% S$1.20
Total S$1,150 S$39.20

This averages to around 3.4% cashback on your entire monthly spending. If the same average is maintained, then you will reach your cap when you spend around S$1,765. But depending on what category you’re spending more on, the cashback ceiling will be reached at a lower or higher amount.

Altogether, the total cash rebates from the OCBC Frank Card for the year cannot exceed S$720.

Related: When is it Worthwhile to Pay Your Credit Card’s Annual Fee?

Which other cards compare with the OCBC FRANK Card?

The FRANK Credit Card is primarily an online shopping + entertainment credit card. The only card that really compares to it is the UOB YOLO.

OCBC FRANK vs. UOB YOLO
The UOB YOLO Card

The YOLO Card gives you 8% cash rebate on weekend dining and entertainment, 3% rebate on weekday dining and entertainment, and 3% rebate for online purchases of fashion and travel on all days, and 0.3% rebate on all other spends.

As is apparent, YOLO’s cash rebate is higher than that of FRANK’s. The YOLO card also rewards you for dining, unlike the Frank card.

The minimum monthly spend required on YOLO is S$600. This may appear to be higher than that of FRANK, but there’s no restriction on what category you have to spend on (we prefer that). The cashback cap is the same as FRANK at S$60.

Check this out: Best Credit Cards for Online Shopping

So is OCBC FRANK Credit Card the coolest card or not?

OCBC Frank Credit Card: Over 120 designs to choose from

The whole FRANK package of savings, investment, cards, insurance and store is certainly appealing and a great initiative to get young Singaporeans started on their financial journey earlier. And the customisable card face – such a brilliant idea. Who wouldn’t want a card in a design that’s close to their heart, right?

We recommend this card for you if you are just starting out your career after university, and trying to save money on your bingeing and online splurging sessions. If you are looking for a dining, entertainment and online shopping credit card that will earn you miles instead, the HSBC Revolution Card would be a better fit.

Read this next:


OCBC FRANK Credit Card Review: Features and Benefits Details
Annual Fee Principal card: S$80 (2 years waiver)

Supplementary card: S$40 (2 years waiver)

Effective interest rate 25.92% p.a
Eligibility 21 years old and above

Annual income requirement:

  • S$30,000 and above for Singaporeans and PR
  • S$45,000 and above for foreigners
Card features
  • 6% online shopping rebate
  • Up to 5% entertainment rebate
  • S$60 monthly rebate cap
  • S$600 monthly spend requirement
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