Asked on 21 Nov 2019
Anyone has had experience with this and can share more on the pros and cons?
Not sure why this is tagged "CPF"
Short answer: Any line of credit is borrowing; if you are borrowing to pay for current period spend then you should consider whether you are living within your means or not.
Long answer: borrowing can be useful to purchase large assets (eg car, home) where the utility immediately outweighs the financing cost. Also borrowing for investment purpose may be appropriate - this is known as leveraging and does increase risk so must be approached carefully. Outside these reasons, it is not so advisable to be borrowing significant sums.