Anonymous
Is it a must to have a credit card?
I've been working for about 2 years while my partner still has 1 more year of studying to go. We are currently saving up for our first home, and we're both unsure whether a credit card would help with our future home loan (i.e. credit score).
We're not worried that we'll use it irresponsibly but more that we don't spend that much and would not be able to get the annual fee waiver. Is it worth it to pay the fee just to build up a good credit score? Or is it not neccessary for a home loan?
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Choose a card that is convenient for you. If annual fee is not waive, I can cancel the card.
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Definitely recommended. Just remember to ask for credit card waiver every year :P
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Yep it's good to hold one! You can clock some of your usual transactions to improve your credit score. However, it is important that you have fiscal discipline before applying for one. A credit card can be incredibily useful (not just for home loan, but for other things also), but if you are not careful, the credit card debts will snowball before you know it
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Owning a credit card and using it responsibly as you have mentioned would only bring you advantages....
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Get a free for life credit card. There are few options from CIMB and HSBC as I know.