Cashback Credit Cards

CashBack Credit Card Reviews: DBS LIVE Fresh, UOB EVOL and OCBC FRANK (2021)

If you are looking into getting a Cashback Credit Card with good rebates (starting from 5%) and a low minimum monthly spend (starting from $600), you may want to check out these three rather similar credit cards – DBS LIVE FRESH, UOB EVOL (formerly YOLO) and OCBC FRANK.

Note: The card information shared on this article is correct as of 28/09/2021. Some extra details are based on my personal experience so it may not be 100% accurate.

DBS LIVE

DBS Live Fresh Card

Interesting Features:

  • Made from 85.5% Recycled Plastic
  • Extra 5% Green Cashback
  • Join Live Fresh Club in Fortnite

UOB EVOL

UOB EVOL Card

Interesting Features:

  • 82% plant-based Polylactic Acid (PLA) card material made of non-edible corns
  • 16 Digits stacked vertically in 4 rows
  • Personal Accident Coverage during travel
  • Formally known as YOLO

OCBC FRANK

OCBC Frank Card

Interesting Features:

  • Choice of Obsidian / Vortex Card Design

DBS LIVE

Minimum Spend:

  • $600 per Month

UOB EVOL

Minimum Spend:

  • $600 per Month

OCBC FRANK

Minimum Spend:

  • $600 per Month

DBS LIVE

Cashback Cap:

  • Online (5%) – $20
  • Visa (5%) – $20
  • Others (0.3%) – $20
  • Sustainable (5%) – $15 (Includes SimplyGo)

UOB EVOL

Cashback Cap:

  • Online (8%) – $20
  • Mobile Contactless (8%) – $20
  • Others (0.3%) – $20 (Includes Phone Bill & Gym Membership)

OCBC FRANK

Cashback Cap:

  • Online (6%) – $25
  • Mobile Contactless (6%) / Foreign Currency In-Store (6%) – $25
  • Others (0.3%) – $25

Minimum Spend Not Met:

  • 0.3% for all Transactions

Good To Know:

Max Spend for Online and Visa: $400 each

Minimum Spend Not Met:

  • 0.3% for all Transactions

Good To Know:

Max Spend for Online and Contactless: $250 each

Minimum Spend Not Met:

  • 0.3% for all Transactions

Good To Know:

Max Spend for Online and Contactless: $416.67 each

Few Things To Take Note (Personal Views):

  • If you are looking to maximize your cashback benefits, it is good to take note of the Maximum Spend on the Online and VISA / Contactless Categories. The amount stated above means that if you spend above that limit, you will not enjoy any more cashback on the differences.
  • Personally, I will concentrate my first monthly spend of $600 on both Online and Contactless Payments. After which, I will do some budget planning and swap to another card. The 0.3% on Other Spend is quite miserable.
  • If your average monthly expenditure is more than $600, it would be good to explore other Credit Cards with cashback rates above 6%.
  • If you take public transports a lot (SimplyGo), the Cashback (extra 5%) on Sustainable from DBS Live Fresh Card is a good feature.

DBS LIVE

General Exclusions:

  • Instalment Plans
  • Interest, Charges, Cash Withdrawal, Cash Advance, Balance Transfer, AXS payments
  • SAM online bill payments, bill payments via Internet banking
  • Fees by DBS
  • Refunds
  • List of Excluded Transactions specified in Terms and Conditions

UOB EVOL

General Exclusions:

  • Cash Advances
  • Balance / Fund Transfers
  • NETS
  • Instalment Plans
  • Cancelled, Voided, Refunded or Reversed Card Transactions
  • Fees, Interests, Charges by Bank
  • Top-Ups to Payment Service Providers / Prepaid Accounts
  • List of Excluded Merchant Category Codes (MCC) and Specific Descriptions stated in Terms and Conditions

OCBC FRANK

General Exclusions:

  • Annual Card Fees
  • Instalment Plans
  • Tax Payments
  • Interest
  • Cash Advances
  • Balance Transfers
  • Fees and Charges
  • AXS or SAM
  • Membership Fees to Clubs and Organisations
  • Top-Ups to Payment Service Providers / Prepaid Accounts
  • List of Excluded MCC stated in Terms and Conditions

Few Things To Take Note (Personal Views):

  • If this is the first time you are getting a Cashback Credit Card, you may want to keep track of your next few months’ expenditures in an Excel Sheet so that you know which purchases did not have Cashback or they were categorized differently from you had expected (e.g. a Contactless Purchase listed as an Online Purchase)
  • Download a copy of their Terms and Conditions to know the list of excluded transactions and also to match your Transactions for the first few months.

DBS LIVE

Annual Fee:

  • $0 for first year
  • $192.60 a year from 2nd year

UOB EVOL

Annual Fee:

  • $0 if 3 purchases are made per month for 12 months before next Annual Fee Date.
  • Else $192.60 a year

OCBC FRANK

Annual Fee:

  • $0 for first 2 years
  • No Annual Fee with Minimum Spending of $10,000 in one year
  • Else $80 a year from 3rd Year

DBS LIVE

  • 21 years and above
  • $30,000 and above Annual Income for Singaporean
  • $45,000 and above Annual Income for Foreigner

UOB EVOL

  • 21 years and above
  • $30,000 and above Annual Income for Singaporean / PR
  • $45,000 and above Annual Income for Foreigner

OCBC FRANK

  • 21 years and above
  • $30,000 and above Annual Income for Singaporean / PR
  • $45,000 and above Annual Income for Foreigner
chevron_left
chevron_right

Leave a comment

Your email address will not be published. Required fields are marked *

Comment
Name
Email
Website

This site uses Akismet to reduce spam. Learn how your comment data is processed.