Cashback credit cards are not created equal no matter how similar they may seem. Learn more about the similarities and differences between DBS Live Fresh, UOB EVOL and OCBC FRANK to figure out which one will help you rack up the most rewards.
New to the world of credit cards? Well, Cashback credit cards are perhaps the most straightforward types of credit cards that exist on the market – perfect for credit card beginners. We will be looking at DBS Live Fresh vs UOB EVOL vs OCBC FRANK in this article, three almost-identical cashback credit cards that are likely to grab the attention of young adults, Gen-Zs and millennials alike.
- What these cashback credit cards have in common
- Comparison #1: Cashback workings
- Comparison #2: Annual fee
- Comparison #3: Additional perks
- Conclusion
DBS Live Fresh vs UOB EVOL vs OCBC FRANK
| Credit card | Key benefits |
| DBS Live Fresh | 5% cashback on online and Visa contactless spend (including online gaming purchases & SimplyGo rides) 0.3% cashback on all other spend Earn 1.6% p.a. or more with DBS Multiplier Account Total cashback cap per month: S$60 |
| UOB EVOL | 8% cashback on online spend 8% cashback on mobile contactless spend via Apple Pay, Google Pay, Samsung Pay and Fitbit Pay 0.3% cashback on all other spend Total cashback cap per month: S$60 |
| OCBC FRANK | 6% cashback on all online purchases 6% cashback when you make contactless payments in-store with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and Garmin Pay 0.3% cashback all other spend Total cashback cap per month: S$75 |
What these cashback credit cards have in common
Foremost, DBS Live Fresh, UOB EVOL and OCBC FRANK are similar in that they require cardholders to:
(i) earn an annual income of at least S$30,000 (Singapore Citizen/ PR); and
(ii) spend at least S$600 monthly in order to earn the advertised cashback
The cashback that you earn from charging your expenses to either of these cards are also automatically credited into your card account to offset your bill. The ease of use should be a plus point for many since you literally do not need to lift a finger to enjoy your cashback!
DBS Live Fresh, UOB EVOL and OCBC FRANK also offer sign-up bonuses for new cardholders – something you definitely want to consider if you are looking to sign up for a new credit card.
How these cashback credit cards differ
While DBS Live Fresh, UOB EVOL and OCBC FRANK have certain common attributes, these cashback credit cards have different cashback workings and perks in store for their cardmembers, making each credit card unique in its own right.
Depending on your lifestyle and spending habits, one credit card may be more suitable for you than another. Read on to learn more about DBS Live Fresh vs UOB EVOL vs OCBC FRANK. The easy-to-digest nuggets of information will come in handy when it’s time for you to pick the best cashback credit card that suits you!
Comparison #1: Cashback workings
| DBS Live Fresh | UOB EVOL | OCBC FRANK | |
| Cashback mechanism | 5% cashback on online and Visa contactless spend (including online gaming purchases & SimplyGo rides) Additional 5% cashback on cashback on select eco-friendly merchants 0.3% cashback on all other spend Min. monthly spend of S$600 required to earn bonus cashback | 8% cashback on online spend 8% cashback on mobile contactless spend via Apple Pay, Google Pay, Samsung Pay and Fitbit Pay 0.3% cashback on all other spend Min. S$600 spend per statement month to earn 8% cashback | 6% cashback on all online purchases 6% cashback when you make contactless payments in-store with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and Garmin Pay 0.3% cashback all other spend Min. monthly spend of S$600 required to earn bonus cashback |
| Total cashback cap per month | S$75 – split into S$20 cap on eligible online spend, S$20 cap on eligible Visa contactless spend, S$15 cap on sustainable spend and S$20 cap on all other spend | S$60 — split into S$20 on online spend, S$20 on mobile contactless spend, and S$20 on all other spend | S$75 – split into $25 cap on online (or in-app) purchases, S$25 cap on in-store mobile payments, and S$25 cap on all other spend |
Aside from the base cashback rate of 0.3% as well as S$600 monthly spend requirement in order to rake in more cashback on your purchases (think: the high cashback rates advertised), DBS Live Fresh, UOB EVOL and OCBC FRANK are rather different when it comes to their cashback rates and categories.
If you primarily do your shopping online, zoom in on OCBC FRANK. This cashback credit card has a higher cashback cap on online purchases compared to the other two cards.
To maximise the amount of cashback you can earn, be sure to study your spending habits as these three cashback credit cards all have a cap on the total amount of cashback you are eligible to earn per month – some more limiting than others!
Comparison #2: Annual fee
| DBS Live Fresh | UOB EVOL | OCBC FRANK | |
| Annual fee | S$192.60 (first year fee waiver) | S$192.60 (first year fee waiver) | S$80 (from third year onwards) |
A nice quirk of UOB EVOL is that it offers annual fee waivers for subsequent years so long as you make a min. of 3 transactions every month.
Comparison #3: Additional perks
| DBS Live Fresh | UOB EVOL | OCBC FRANK | |
| Exclusive privileges | Fresh dining, shopping, travel, sustainable and lifestyle deals Earn 1.6% p.a. or more with DBS Multiplier Account when you credit salary & spend on your card, with no minimum amount | Gain access to over 1,000 deals at eco-friendly merchants Annual fee waivers for subsequent years so long as you make a min. of 3 transactions every month Earn up to 2.50% p.a. interest with UOB One Account | Gain access to over 200 deals on the STACK marketplace New OCBC FRANK cardmembers can choose between 2 designs – Obsidian (FRK2020) and Vortex (PRF0002) Free supplementary card for first 2 years, S$40 a year thereafter Automatic annual fee waiver with min. spend of S$10,000 in a year, starting starting from the month after your FRANK Credit Card was issued (Note: $0 annual fees for the first 2 years) |
All three cashback credit cards have plenty of deals and promotions available to cardmembers. However, if you are extra savvy with your money and would like to take advantage of higher interest rates earned on your savings (if you aren’t already using a high interest savings account), definitely consider pairing the DBS Live Fresh with the DBS Multiplier Account or the UOB EVOL with the UOB One Account.
Both savings accounts offer savers like you and I a much better deal than traditional, basic savings accounts that only let customers ‘enjoy’ 0.05% p.a. on their hard-earned savings.
Conclusion: Which one should you choose?
DBS Live Fresh, UOB EVOL and OCBC FRANK are all great options for earning generous cashback on your purchases. But again, there is a catch associated with these credit cards that offer higher cashback rates: (i) minimum spend and (ii) cashback cap.
S$600 minimum spend requirement: This is rather attainable even if you aren’t a big spender by any means. The trick is to consolidate your spending across categories, such as transportation, meals, entertainment, in-store and online shopping, groceries and mobile phone bills.
(Psst, another easy way is to volunteer to pay first whenever possible, say, when you are out chilling with your friends.)
Choose UOB EVOL: That’s if you like the sound of earning high cashback on online shopping and convenience of mobile contactless payments, without category restrictions.
This applies regardless of whether you are purchasing pet supplies, stocking up on groceries, snagging shopping deals online, paying for meals and drinks, going to the movies, or even booking travel online when the world’s in a much better place.
Welcome Offer: Receive S$150 cash credit if you are among the first 100 successful applicants to make a min. spend of S$1,500 within 30 days of card approval. Promotion is valid for select UOB credit cards. Valid till 30 June 2021. T&Cs apply.
Choose DBS Live Fresh: DBS Live Fresh could be the right fit for you if you love Planet Earth and spend largely on online purchases, Visa contactless transactions as well as on eco-eateries, retailers and transport services. The card itself is made from 85.5% recycled plastic.
Welcome Gift: Enjoy S$200 cashback when you key in the promo code 200CASH upon application. A minimum of one transaction on eligible goods and services must be made within 30 days of card approval. Valid till 30 September 2021. T&Cs apply.
If you’re not a new DBS/POSB credit cardmember, consider these promotions instead.
Choose OCBC FRANK: If you want to earn the highest amount of cashback on your online and contactless mobile spending combined (i.e. S$50), OCBC FRANK is the one for you.
SingSaver Offer: Get rewarded with S$50 cashback when you apply for OCBC FRANK and make two transactions by the end of the following month after card approval. Valid till 31 August 2021. T&Cs apply.
Read these next:
Best Cashback Credit Cards In Singapore
Best Online Shopping Credit Cards in Singapore
DBS/POSB Credit Card Promotions and Deals
OCBC FRANK Revamp: 5 Reasons To Sign Up For This Newly Relaunched Card
Credit Card Comparison: UOB One vs CIMB Visa Signature vs BOC Family
By Denise Bay
While Denise has a thing for travel, K-dramas, 0% sugar bbt (with boba!), Japanese cuisine and flat white, her curious nature means all sorts of random tabs are open on her phone 24/7. She doesn’t like to pay full price for anything, too.
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