facebookWhich is the best Credit card I can apply if I earn less than 30k per year? - Seedly

Anonymous

19 Sep 2019

Saving Hacks

Which is the best Credit card I can apply if I earn less than 30k per year?

I wish to get just 1 credit card and minimise the credit limit to 1k for some minor usage, any kind of card out there for me?

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Cedric Jamie Soh

19 Sep 2019

Director at Seniorcare.com.sg

You can go for a credit card that uses FIXED DEPOSIT as security instead of your income. This is for those whose income is less than $30,000 (I think MAS set $30,000 as a minimum requirement for credit card).

A fixed deposit Credit Card allows you to start credit card scoring, so it builds your record which can be useful for your future loans.

Also, my friend has poor record due to business loan but he wanted to start somewhere to build back a proper CC record. (he's a millionaire, so a very weird combination)

He did get an OCBC card with only $2000 credit limit. He spends and pays back monthly. (and if you are keen, yes his CBS record is going up slowly from FF to D)

I am guessing UOB and DBS would also offer low credit limit credit card if you ask.

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