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Newbie on using credit cards
Hi, I’m currently 20 and still in NS, looking around for a good credit card to use when I turn 21. I have been using my Maybank eVibes card now for a year, and have gotten used to how credit cards work. However, I still have some questions:
- Do credit scores in SG really matter? How does it affect my financial purchases like a BTO?
- Is it wise to get a supplementary card for my gf to use to achieve the min. spending? (I trust her and we’re planning to get married soon)
Thanks for your help
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Hey man! same age as you and i have also been using Maybank evibes, personally for me when i hit 21 i will be applying for the DBS live fresh student card as there are cashback options for even transportation.
As for your question on credit scores, from what I have read online, it does not really affect loans in a way where you get lower interest rates or larger loan amounts, but it will increase your chances of being eligible for different types of loans(Might be wrong, someone please correct me if so).
As for your second question i have no idea xD, why not have her own credit card instead of a supplymentary card?
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- Why does everyone seem to use the UOB absolute card? Isn’t the interest rates way too low compare...
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Credit score doesn’t matter for HDB home purchases since income is the main benchmark for HDB loan eligibility. But for things like personal loans or private loans or refinancing a private home loan, it would matter.
I prefer not to use sup cards as it can be hard to track card offers and spend. I’ll just give my wife my principal card 😅. But this is a personal choice and some banks do offer good sup card promos.