Anonymous
Salary credit is below 2k, should I still open ocbc 360?
Probably can only hit the increase balance bonus, all other bonus cannot achieve, worth the hassle?
Also, is it possible to get a debit, instead of credit card when opening a 360 acct?
Any types of debit card to recommend?
If not, which credit card to consider for someone who spends <500 a month?
Am a first jobber of under a year, with salary credit of ~1.5k
Really wish to avoid having a credit card bc of hearing all those horror stories of credit card debts. Please advise :)
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Pang Zhe Liang
15 Mar 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
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If you are between 18 to 26 years old, then you should consider Standard Chartered JumpStart account. This is because it gives an interest rate of 2% per annum for your first $20k balance. Furthermore, there is no fees and minimum balance required in order to maintain the account.
Moreover, it comes with a debit card that gives you 1% cashback on eligible spending. With this in mind, it is certainly a worthy account for a start.
Alternatively, you may consider CIMB FastSaver. This is because it gives an interest rate of 1% per annum for the first $50k account balance. In like manner, there is no monthly fee associated with maintaining the account. Hence, it is worth taking a look as well.
By the way, yes, it is possible to get a debit card instead of a credit card for OCBC 360. Since the card is standard, there is nothing to choose.
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