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Hanafi Zulkafle

Business Management at Singapore Management University

24 Oct 2023

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Credit Cards

Should I get a Credit Card to build up my credit score?

Hi,

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I had a conversation regarding credit card application with a close friend of my recently. I personally feel that I should not get a credit card as I know that I have a lack of discpline when it comes to my spendings.

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My friend told me that I should get myself a credit card to build up my credit score. He brought up the topic of BTO-ing in the future and told me that if I were to take a bank loan, credit score will play a big part.

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A credit card can be a great way to build credit, but it requires discipline. If you're responsible with your finances and make on-time payments in full each month, it can significantly improve your score. However, if you're worried about do it yourself credit repair , there are alternative ways to build credit.

I think it's always handy to have a credit card with good rewards system to earn points/rebates/mile...

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