OCBC Credit Card Singapore | Top Cashback Credit Cards
Credit Cards
by Priyadarshini
1 November 2021
The OCBC credit card is one of the best credit cards for youngsters in Singapore right now. If you are a new jobber or an experienced millennial then this is for you. This credit card is basically meant for adults looking to manage their expenditures better. With a cash rebate rate of 6%, the card is one of the most lucrative online shopping credit cards available. There are many rewards too in many categories which will make your life easier. For instance, mobile payments and international travel, etc. In this blog, we tell you about the OCBC credit card Singapore.
OCBC Credit Card Singapore (OCBC Frank Credit Card)
The OCBC Frank card used to feature a highly unappealing system that forced you to spend on items that did not generate rewards. Also, there was a criterion to meet the minimum spending requirement. But they’ve subsequently gotten rid of it.
How Does the OCBC Frank Credit Card Work?
One of the key benefits of the OCBC Frank Credit Card is that it offers 6% cashback on online purchases. Nowadays, you can buy almost anything online, from groceries to airline tickets, Netflix subscriptions, etc. So, in all honesty, this is a fantastic offer. The second category of 6% cashback is for in-store mobile contactless payments. That is when you pay with your mobile device using Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, or Garmin Pay. Finally, when you make in-store foreign currency transactions, you will receive a 6% reward. This could potentially come in useful now that people have started to travel again.
The Requirements?
The minimum monthly expenditure requirement is $600, which is actually fairly feasible. Especially when you consider how much of your spending can be attributed to internet shopping or mobile payments. The major disadvantage is that there is a $25 cashback cap in the internet category and a $25 cashback cap in mobile payments. Additionally, a $25 cashback cap in the foreign currency spending category as well. That means you can get 6% cashback on up to $416.67 in online spending and $416.67 in mobile payments/foreign currency purchases.
Who Should Apply for an OCBC Credit Card Singapore?
Whether you’re actually young, just young at heart, or brazenly old and grouchy, the card is useful for almost everybody. The majority of your purchases are covered by the online shopping cashback and the mobile payments cashback. Even if you don’t purchase much online and refuse to accept mobile payments, the card can be beneficial to have on hand when you finally travel on an abroad vacation. As it offers 6% cashback on plane tickets, hotel bookings, and overseas spending.
The reward maximum is annoyingly low, which is probably because the card is aimed at first-time buyers who don’t have the resources to spend that much. If you’re a big roller, you’ll most likely be able to find a more exclusive card with a greater cashback cap.
