Am I losing out if I choose not to have any credit cards? I'm a fresh grad, but still living with my parents. I don't spend much, so I don't think I can hit the minimum spending for certain rebates? - Seedly
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Anonymous

Asked 4w ago

Am I losing out if I choose not to have any credit cards? I'm a fresh grad, but still living with my parents. I don't spend much, so I don't think I can hit the minimum spending for certain rebates?

But loads of people say that you should just apply and reap the benefits of each one... Isn't it very stressful to manage so many cards?

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ZY

Level 6. Master

Updated 4w ago

Yes, you are losing out.

Different cards have different benefits, and if your monthly expenditure is big enough, a different combination would be best to max out the benefits.

Since you don't spend much and find it stressful to manage too many cards, why not just get 1 general spending card without minimum spend requirement? Some suggestions below.

  • Standard chartered unlimited card (1.5% rebate)

  • Amex True Cashback Card (1.5% cashback)

  • Citibank Cashback Plus Card (1.6% cashback), need to SMS to redeem cashback which I find stupid

Savings is small, but better than nothing. Also these banks/credit card companies also sometimes run special promos, like 1-for-1 dining, extra rebate for groceries, promo codes for lazada/shopee/foodpanda/Deliveroo.

Having a credit card, which you spend on and pay off promptly also help build your credit history.

1

Question Poster

3w ago

Thank you for this ZY, this was very useful!
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
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It shouldn't be too stressful if you set up automatic bill payment. Just be sure that you spend what you can afford.

As for the perks, rewards and suitable cards for you, ZY has them listed.

1

Question Poster

3w ago

Hi Jiayee, how did I set up automatic bill payment? Is it via GIRO so it will automatically be deducted from my bank account monthly?
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post