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28 October 2014

How to Chalk up $500 for Frank Card

Chalking up $500 a month for your Frank card gives you the best benefits that I know so far. It gives you $43.75 from OCBC 360 and 6% rebate for your train, nets flaspay and online purchase fee. The trick to hit the target and not overspend, is to charge your monthly necessities like SP services and Teleco bills to your credit card instead of using GIRO.

You can go down to a SP service counter(tripleone somerset has one) and pay your monthly electric/water bill using your credit card. You do not need to cancel your GIRO as it will detect your credit card payment and not bill you again if you have already paid for the month.

For your teleco bill, pay via vBox as it will be counted as an online credit card payment which enables the 6% rebate. So assuming $200 for sp service bill, $50 for teleco bill and $50 for mrt, thats already $300.

The other $200 can be easily fulfilled if your charge your groceries and weekend dining on the card within a month. Do note that NTUC accepts nets flash pay, which means, this portion will be counted in the 6% rebate. If you charge your monthly bills to your card and follow a fixed routine, you should be able to hit the $500 mark easily without overspending.

8 comments:

  1. Jes29 October 2014 at 15:40

    Hi there! So coincidental, I have also just blogged about OCBC 360 card: http://simplyjesme.blogspot.sg/2014/10/great-for-savings-ocbc-360-and-365.html Too bad I don't really have any online purchases.. mostly dining so 360 gives me 6% rebates on that.. Anyway, seems like OCBC is doing a good job as Frank is a good card to have too!

    ReplyDelete
  2. Anonymous29 October 2014 at 17:18

    Actually, you should really maximize spending using nets flash pay since all spending with that gets you 6% cash back. Obviously this will cover transport (inc of taxi that gives you an additional 5%), supermarkets (NTUC as you mentioned) but it also covers f&b establishments (McD, MOS burger) and some retailers (Watson's).

    ReplyDelete
    Replies
    1. SCG8866T29 October 2014 at 20:45

      Yes, we have to make full use of the net flashpay. As its included in the 6% rebate.

      Delete
  3. ABC30 October 2014 at 16:49

    Was told that utilities payment made via vBox with FRANK card will not be considered as online transaction starting from 01 December 2014. OCBC will be revising their T & C.

    ReplyDelete
    Replies
    1. SCG8866T30 October 2014 at 19:07

      Hi ABC,

      You can still use your Frank card to pay for utilities at SP centres. There is one at tripeone somerset. Cheers!

      Delete
    2. ABC31 October 2014 at 10:18

      Sorry, I forgot to mention even for Telco bills made under vBox will not be considered as online transaction. But still it could help you fulfil the 360 account criteria of credit card payment of $400.

      Delete
    3. SCG8866T31 October 2014 at 11:11

      Wow. How about if we pay online via the telco's website?

      Delete
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