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
Interesting Features:
- Made from 85.5% Recycled Plastic
- Extra 5% Green Cashback
- Join Live Fresh Club in Fortnite
UOB EVOL
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
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
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