I'm new to Singapore. How long should I wait before applying for a credit card? I've seen few banks are asking for 3 months salary slip. Do I really need to wait for 3 months applying for my first credit card? - Seedly
Seedly logo
Seedly logo
 

Credit Cards

Prasanta Saha

Asked on 18 May 2019

I'm new to Singapore. How long should I wait before applying for a credit card? I've seen few banks are asking for 3 months salary slip. Do I really need to wait for 3 months applying for my first credit card?

0 comments

2 answers

Answer Now

Answers (2)

Sort By

Junus Eu
Junus Eu
Level 9. God of Wisdom
Answered on 18 May 2019

I believe that a minimum income of $30,000 per year is required to apply for a basic credit card in Singapore, and that could be higher if you are a foreigner.

I do think you would need to wait 3 months first, because chances are that the credit card application would get rejected and you would need to re-apply again when you have 3 months of salary to show.

0 comments

ūüĎć 2
Jansen Ng
Jansen Ng, Business Student at Ntu
Level 5. Genius
Answered on 20 May 2019

Yepp min a year is 30k salary. If you dont have salary slip with you, they will ask to open up your cpf and do a back calculation, because they need a verifiable source.

Gotta wait >3 months. Because on their end they gotta make sure your salary is consistent and stable.

If you are working for commissions, then will require longer period like 6mth-1year or depending

If you are a foreigner, may require higher than 30k a year depending on credit card terms

0 comments

ūüĎć 1