Credit cards - benefits

[Kusje]

since you have plans to quit Sg in the future, it's ok to collect more samsonite luggages

 

the more the merrier in fact

 

 

My stuff all cheapo one la.

 

When I leave, I will just throw all away.

 

I have no attachment to any of my physical belongings.

[Enye]

My stuff all cheapo one la.

 

When I leave, I will just throw all away.

 

I have no attachment to any of my physical belongings.

 

don't throw them away lah...so wasteful

 

just place them all in your EC and then give the EC to me when you leave

 

[Kusje]

don't throw them away lah...so wasteful

 

just place them all in your EC and then give the EC to me when you leave

 

 

Haha. I intend to either sell or rent out la.

 

Even if I strike the hongbao draw toto, I won't be so wasteful as to leave it empty and throw money down the drain.

Edited September 20, 2017 by Kusje

[Angcheek]

You see me too up.... I only have a simple credit card I use to pay for everything. Whatever elite cards are for status only. No meaning one.

 

I simply know your credit card has no credit limitation   ...    

[Spring]

I have only 1 credit card. You people sibeh rich to have so many.

It's good practice to have less credit cards but i think 1 is too little, shld have 2 in case the main card got some issues like connection down etc (it has happened before) in which case you can use the 2nd card but preferably 1 is Visa, another is Master or another issuer, my 2 cents.

[Nhyone]

NTUC plus card - shopping at NTUC

OCBC 365 card - spend 500 a month to earn credit card spend bonus interest on my 360 account (have two other cards from OCBC but I don't bring out)

OCBC Robinson card - spend at Robinson

CItibank Cashback - ESSO petrol, min spend $888 (just realized I don't meet this on this card, time to re-think if I should consolidate more spending here but I don't really really only pump ESSO)

DBS ESSO card - ESSO petrol, just realized duplicate with Citi Cashback, seems that this is a better card for ESSO Petrol

DBS Live fresh - have to check benefits again, seldom use

DBS Woman's card - 10% off online shopping, seldom use, need to relook

CIti Platinum - use to be my main spend card but since I change my salary account to OCBC so don't really use le, it gives really good cash rebates, need to relook

UOB metro card - spend at metro

UOB one card - petrol

Amex platinum - dining but not many places accept Amex, very irritating

Amex capitacard - accumulate $1,200 per month, can have one month of foc 3 hours parking at any capitaland mall

Citibank smrt card - never use for many months, going out of wallet

POSB everyday card - petrol at SPC and groceries at SS

OCBC Titanium card - going out of wallet, not use

 

 

So many cards. No annual fees?

[DACH]

It's good practice to have less credit cards but i think 1 is too little, shld have 2 in case the main card got some issues like connection down etc (it has happened before) in which case you can use the 2nd card but preferably 1 is Visa, another is Master or another issuer, my 2 cents.

2 is enough.

Having too many cards makes your wallet fat.

[Kusje]

2 is enough.

Having too many cards makes your wallet fat.

[DACH]

These days can just add to your virtual wallet la.

Nah.

Don't feel secure saving all the private information in the smartphone.

And with physical cards, I can control the number of cards needed and thus control my spendings.

[Kusje]

Nah.

Don't feel secure saving all the private information in the smartphone.

And with physical cards, I can control the number of cards needed and thus control my spendings.

 

I think it is no less secure than having your CC in your wallet. One can be hacked and the other can be stolen/misplaced.

I also don't understand how having fewer cards helps to control one's spending. I control my spending by just not buying things I don't need.

[DACH]

I think it is no less secure than having your CC in your wallet. One can be hacked and the other can be stolen/misplaced.

I also don't understand how having fewer cards helps to control one's spending. I control my spending by just not buying things I don't need.

You will understand it if you use physical cards. When things become too convenient, people tend to take it for granted.

Virtual wallet is not just about being hacked. What if you misplaced your HP, or your HP has no power?

At least you will try to protect your wallet because your IC, driving license, etc are inside.

So nope. It's all up to individual.

[Lala81]

I think if u have so many cards even if u have a good credit history, they may discount your maximum loan amount if u are applying for home loans.

 

I read 1-2 websites which suggest cancelling cards u don't need prior to home loan approval.

[Pinobii]

I think if u have so many cards even if u have a good credit history, they may discount your maximum loan amount if u are applying for home loans.

 

I read 1-2 websites which suggest cancelling cards u don't need prior to home loan approval.

It does really matter how many cards you have because they look at how much u are owning in the total credit cards bills when considering home loan amount

 

Having problem to edit my post, I miss out the word not

 

It doesn't really matter

So many cards. No annual fees?

Nope, won't pay any annual fees for the card

Edited September 21, 2017 by Pinobii

[Kusje]

It does really matter how many cards you have because they look at how much u are owning in the total credit cards bills when considering home loan amount

 

He's not talking about how much one owes to the bank.

 

Even if you clear your bills every month, it will still affect your loan as each credit card is considered an unsecured credit line. When I apply for CC, I usually specify that I only need 10k credit line instead of letting the bank decide.

[Lala81]

He's not talking about how much one owes to the bank.

 

Even if you clear your bills every month, it will still affect your loan as each credit card is considered an unsecured credit line. When I apply for CC, I usually specify that I only need 10k credit line instead of letting the bank decide.

 

Yes.

I tend to put 3-5k only. 

But yeah best not to have like 10 cards ...

Refer to above. I think it does.

These are financial advisors recommending it. I think the unsecured credit lines do reduce your general creditworthiness if u have too many.

 

It does really matter how many cards you have because they look at how much u are owning in the total credit cards bills when considering home loan amount

 

Having problem to edit my post, I miss out the word not

 

It doesn't really matter

 

[Vratenza]

I think that is an urban myth?

 

If a someone given an unlimited credit limit by a card issuer because he is some CEO of a listed company, means he cannot take any other housing loan for his multiple property purchase? (not that he needs it but more for investment planning etc)

 

He's not talking about how much one owes to the bank.

 

Even if you clear your bills every month, it will still affect your loan as each credit card is considered an unsecured credit line. When I apply for CC, I usually specify that I only need 10k credit line instead of letting the bank decide.

 

[Vratenza]

I think that applies to the marginal borrowers....who already are more likely to have more frequent defaulted CC bills the more CC you have.

So that is the confounding factor rather than the absolute number of CC itself.

 

Yes.

I tend to put 3-5k only. 

But yeah best not to have like 10 cards ...

Refer to above. I think it does.

These are financial advisors recommending it. I think the unsecured credit lines do reduce your general creditworthiness if u have too many.

 

[Lala81]

I think that applies to the marginal borrowers....who already are more likely to have more frequent defaulted CC bills the more CC you have.

So that is the confounding factor rather than the absolute number of CC itself.

 

Well anyway if u have too many CC, u have to fill them all up when u apply for the loan. Which in itself is a bitch