Receiving cashback is a great way to save money whenever you spend using your credit card.
Both the DBS Live Fresh and OCBC Frank cards offer quite a high cashback for different categories, so one may be better for you, depending on your spending habits.
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The difference between DBS Live Fresh and OCBC Frank
Both the DBS Live Fresh and OCBC Frank offer 0.3% cashback for all purchases with no minimum purchase amount. While they both offer additional cashbacks for purchases $600 and above, the cashback rates they offer differ.
Here is a comparison of the cashback for each card.
Cashback Rewards
Both DBS Live Fresh and OCBC Frank offer 0.3% cashback for all general spending, regardless of the amount spent.
DBS offers additional cashback for online, contactless, and sustainable spending
DBS Live Fresh offers 5% cashback for the following purchases, as long as they meet the required $600 minimum purchase amount:
| Online Spending | Purchase of goods or services over the internet |
| Visa Contactless Spending | Purchases made through Visa contactless terminals using the card or mobile wallets (Apple Pay, Samsung Pay, Google Pay) |
You may want to note that there are transactions excluded from DBS’ online and contactless spending cashback as listed in the DBS Live Fresh’s Terms & Conditions.
On top of the online and contactless spending cashback, DBS also offers an additional 5% cashback for sustainable spending from the following eco-businesses:
- Eco-eateries
- Eco-retailers
- Transport services
Here is a list of businesses that will give you this additional 5% cashback:
With this additional cashback, using your DBS Live Fresh card to purchase from any of the listed eco-businesses via online or Visa contactless will get you up to 10% total cashback!
If you frequently ride the public transport, DBS Live Fresh is surely a great option due to the 10% cashback that you can get from MRT and bus rides!
To use your DBS Live Fresh for MRT and bus rides, you will need to add them to your SimplyGo account first.
OCBC offers additional cashback for online/app spending, foreign currency transactions, and mobile payments
OCBC offers 6% cashback for the following purchases with a minimum spend of $600:
| Online Spending | Purchase of goods or services over the internet |
| In-Store Mobile Payments | In-store contactless transactions made via mobile wallets (Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, Garmin Pay, or other payment or mobile wallet services as OCBC Bank may determine) |
| In-Store Foreign Currency Spending | In-store purchases charged in non-SGD currency |
Although DBS also offers additional cashback for mobile wallet payments (Apple Pay, Samsung Pay, and Google Pay), OCBC includes more eligible mobile wallets than DBS as it also offers cashback for Fitbit Pay and Garmin Pay.
You may want to note that contactless transactions are not included for OCBC FRANK. You will only earn cashback if you use a mobile wallet to make your payments. In contrast, DBS Live Fresh gives you the choice of using either the mobile wallet or contactless payment to earn your cashback
If you frequently use your mobile wallet to spend or frequently travel and purchase goods abroad using your credit card, you’re better with the OCBC Frank due to its higher cashback rewards for such transactions.
A foreign currency conversion fee is charged for foreign currency transactions using OCBC Frank which includes the following:
- 1% of the foreign currency transaction amount as imposed by the respective card associations (Visa/Mastercard/American Express)
- 2.25% of the foreign currency transaction amount as bank administrative fee
Here is a summary of the different categories that you can earn cashback on for each card:
| DBS Live Fresh | OCBC Frank |
|---|---|
| Online Spending | Online Spending |
| Mobile Payments (Apple Pay, Samsung Pay, Google Pay) | Mobile Payments (Apple Pay, Samsung Pay, Google Pay, Fitbit Pay, Garmin Pay) |
| Visa Contactless Spending | Foreign Currency Spending |
Cap on Cashback
Both DBS Live Fresh and OCBC Frank have a limit of $75 cashback per month. However, the caps that they have are different, depending on the different categories available.
| DBS Live Fresh | OCBC Frank | |
|---|---|---|
| Online* | $20 | $25 |
| In-Store Contactless – Card* | $20 (together with mobile wallet) | N/A |
| In-Store Contactless – Mobile Wallet* | $20 (together with card) | $25 (together with foreign currency) |
| Foreign Currency* | N/A | $25 (together with mobile wallet) |
| Sustainable | $15 | N/A |
| All Others | $20 | $25 |
| TOTAL | $75 | $75 |
Eligibility
DBS and OCBC have the same requirements for their credit card applicants:
| Age | 21 years old |
| Minimum Annual Income (Singaporeans) | $30,000 |
| Minimum Annual Income (Foreign Nationals) | $45,000 |
Other Rewards
DBS and OCBC both offer great rewards for their credit card holders such as:
- Shop/Restaurant Discounts
- Flexible Payment Plans
DBS, being the first eco-friendly card in Singapore, promotes eco-friendly and sustainable living. They have a regular program called #FreshDropFriday wherein they host workshops such as gardening.
DBS also has regular giveaways wherein their cardholders are entitled to raffle coupons for a minimum spend amount.
Fees
The annual fee for OCBC Frank is significantly lower than that of DBS Live Fresh’, and their annual fee waiver is also longer.
| DBS Live Fresh | OCBC Frank | |
|---|---|---|
| Annual Fee – Principal Card | $192.60 | $80 |
| Annual Fee – Supplementary Card | $96.30 | $40 |
| Waived Annual Fee | 1 year | 2 years |
For the interest rates, DBS offers lower rates than OCBC for both card transactions and cash advances.
| DBS Live Fresh | OCBC Frank | |
|---|---|---|
| Interest – Card Transactions | 26.80% p.a. | 26.88% p.a. |
| Interest – Cash Advances | 28% p.a. | 28.92% p.a. |
Final Verdict
DBS Live Fresh and OCBC Frank offer the same cashback for no minimum purchase amount with the same total monthly cap. While OCBC Frank offers higher cashback rates for purchases over $600, DBS Live Fresh offers a higher cashback rate for sustainable spending.
Here is a summary of what each card offers:
| DBS Live Fresh | OCBC Frank | |
|---|---|---|
| Online* | 5% | 6% |
| In-Store Contactless – Card* | 5% | 0.3% |
| In-Store Contactless – Mobile Wallet* | 5% | 6% |
| Foreign Currency* | 0.3% | 6% |
| Sustainable | 5% (+ 5% if online /contactless) | 0.3% |
| All Other Transactions | 0.3% | 0.3% |
| Maximum Monthly Cashback | $75 | $75 |
| Annual Fee for Principal Card | $192.60 | $80 |
| Annual Fee Waiver | 1 year | 2 years |
OCBC Frank is best for online shopping and travelling
With the lower annual fee for OCBC Frank, it is best if you frequently shop online or make contactless transactions.
OCBC FRANK provides a higher cashback rate compared to DBS (6% vs 5%).
If you love to travel and shop abroad, it is also the perfect choice since it offers 6% cashback for foreign currency transactions!
Moreover, the cashback caps for each special category is slightly higher compared to DBS Live Fresh ($25 vs $20).
DBS Live Fresh is the card for sustainable living
If you are living and promoting a sustainable lifestyle, DBS Live Fresh may bring you more bang for your buck since it offers additional 5% cashback for purchases on eco-friendly businesses.
You are also able to receive up to 10% cashback for bus and MRT rides!
Moreover, it gives you flexibility in using either mobile wallets or contactless spending to earn your cashback for non-online transactions.
If you are intending to use this card for the long term, you may want to note that the annual fee waiver is shorter and the annual fee is much higher compared to OCBC FRANK.
👉🏻 Credit Card Deals
Are you interested in signing up for a credit card? Check out some of the deals below!
DBS Live Fresh
OCBC FRANK
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