Hi anon, The Live Fresh student card comes with no fees for 5 years, so no worries about forgetting to pay the fee. A credit card basically works on 'credit', meaning the bank 'credits' you money when you spend first, and then you have to pay them back when the bill is due (it's a monthly cycle). One of the benefits is 0.3% cashback (uncapped), along with other promotional tie-ups with other brands. For example, if you buy GV movie tickets with cash from Monday to Wednesday, you might pay $10. Pay with the card, and you get a dollar off. Yes, it's that simple. So check out the list of deals/merchants that the card has in order to maximize it. Just remember to pay the bill. You have to pay at least 3% of the monthly statement balance (or S$50, whichever is greater) but you should pay in full. The problem comes when you don't. That's when interest piles up and compounds and debt becomes unmanageable. Don't get a credit card if you are not sure that you can pay off the bills in full. I cannot stress this enough. I assume you are working part-time? Your salary minus off expenses leads to decent cash flow, and the credit limit of the card is $500, so you will likely not overspend since your credit limit is capped. Yes, DBS credit card spend will count towards a higher interest in the Multiplier account. You'll have to do the maths to see if it's worth.

##edit: SCB interest still stay as 2% even after you pass 27 as confirmed by the community, though it's up to the bank discretion whether to maintain this interest in the distant future Standard Chartered JumpStart account can guarantee a 2% p.a. interest for up to 20k. The account does not have any penalty if you fall below any minimum account. The SCB debit card also has a 1% rebate for any amount spent, capped at a rebate of 60 dollars. Whereas for DBS Multiplier, you would first need to credit your salary and transact in one or more of the categories (credit card spend, home loan instalment, insurance, investments). DBS Multiplier advertised that you can get up to 3.8% p.a. interest BUT that is if you achieve total eligible transactions of more than or equal to 30k a month, AND already have 50k in this DBS Multiplier account AND transactions in 3 or more categories. This means that to hit the 30k a month, say you credit 5k salary a month to your account, you need to have another 25k or more in your other transactions (credit card, home loan instalment, insurance and investment)! So realistically speaking, most undergraduate would only be able to hit the 1.85% p.a. tier (whereby total eligible transactions per month is 2.5k to 5k). You can check out more about DBS Multiplier on: dbs.com.sg/personal/deposits/bank-earn/multiplier So in my opinion, I would open both accounts. SCB jumpstart account would kinda be my savings account whereby if you have spare cash saved from either your part-time work or parents allowance last time, I would just dump the money there to treat it as a "fixed deposit". The interest paid here is even higher than most fixed deposit currently in Singapore. For the DBS Multiplier, I would treat it as a "spending account" whereby spending with the credit card can allow you to get back better rebates than the SCB debit card. (Do note some DBS/POSB credit cards have minimum spending to get back rebates) dyodd! If you already have 20k in your SCB, then just leave the rest of the money in your DBS Multiplier to earn the DBS Multiplier interest since SCB jumpstart interest is capped up to 20k. Once you hit 27 or older, your salary would probably have increased such that you would be able to hit the higher tier of DBS Multiplier and earn better interest. This will coincide with the age limit of SCB jumpstart and can just transfer your money to DBS Multiplier if necessary. These are just my opinions so you should plan out your financial means and how to allocate a portion of your salary to the jumpstart account if you do follow my advice on opening two accounts. Jiayou!

No, you actually need only to buy for the first 6 months. As the interest from SSB gets distributed every 6 months, from the 7th month onwards, you'll get the interest from the 1st month, 8th for the 2nd month and so on. A bond ladder effectively. This will last 10 years and will fulfil the extra interest for the investment category of DBS multiplier, at least till they change the regulations.

DBS multiplier is an individual account. Most likely if only you have DBS credit card, only your DBS multiplier will get the additional interest. Both of you can just apply for 1 credit card and spend $1 if you don't like to use the credit card which will make both of your DBS Multiplier accounts be eligible for card spending category. You can also do the SSB ladder and set the joint account as the CDP dividends account which will give another investment category for both Multiplier account. SSB Ladder - https://kpo-and-czm.blogspot.com/2018/04/dbs-multiplier-ssbs-joint-account-higher-interest.html Change CDP dividends account - https://www.dbs.com.sg/personal/deposits/bank-with-ease/direct-crediting-service

Constant Dollar Amount is good for RSP. Say prices go up, you buy fewer units with a fixed $200. Your current assets rise in price anyway, so not a bad thing. Prices go down, you buy MORE units with the fixed $200. Your current asset dropping in price, but you are averaging per month. May not sound like much, but do it regularly monthly for a few years, you will appreciate the consistent investments that add extra growth.

I would say both have its own strength and weakness. For DBS Multiplier, you can hit actually hit salary crediting, credit card spending and investment category. If you were to do a SSB ladder, you can get the investment category part of the crediting dividends as long as they don't change the criteria. All you need to do is to buy 6 months of SSBs consecutively and make sure your CDP is connected to DBS/POSB account. This way, after the 6 months of buying SSBs, you will receive SSBs interest every month for 10 years which will count as investment category under DBS multiplier. SSB minimum amount is $500 every time so it will take you at least $3,000 but of course, you can put more if you want to. The more transactions you have with DBS, the more interest you get. But for me their credit card doesn't really suit me, they have slightly higher minimum monthly balance, an additional step which is the SSB ladder and I don't have that much transactions in the first place. For UOB one, their credit card gives cashback for most stuff although you have to spend at least $500. (not very hard if have fixed expenses that UOB one give cashback.) Their EIR or effective interest rate is only 2.44% if you have 75k in the UOB one account. They also allow 3 giro transactions instead of salary credit so a bit different as well which means if you plan to keep a big amount of money with the banks you can do both DBS multiplier and UOB one at the same time with a single salary crediting. The headache part is if you don't hit $500 for a single time, you won't get the interest and you won't get the cashback for the quarter. Overall, just choose the accounts and credit cards that suit your need the most.

Depends on your expenditure. If you are not much of a spender, the Everyday is sufficient. Even a charge of $1 to this card gets you your additional interest. Read their partner offers to max out the rebates that you can get. If you spend and like to travel, you can consider the Altitude card but tbh I only recommend it if your annual spending is $25k a year so you can get the annual fee waiver.

Most cashback cards require you have had minimum spending before you can get the cashback. As for the DBS Altitude, if you don't think you can hit that amount, then don't force yourself to. There's no need to take advantage of the promotion; the card benefits are good enough (in my opinion at least).

Only the multiplier account. Your other accounts earn their own interest rate. Case in point, I have a POSB Savings and DBS Multiplier account. My POSB savings earns 0.05% interest while the Multiplier earns 1.55% to 1.85%. How do I know? Every month, my Multiplier has interest deposited while my POSB savings has nothing deposited other than the end of the year.

Here’s how to link your ATM card to a specific DBS bank account: 1. Login to your DBS iBanking on desktop 2. Under Cards , select Link Card to Deposit Account for ATM Use 3. Choose the ATM card you wish to link 4. Choose the account you want to set as the card’s primary account 5. Choose a secondary account (if neccessary) 6. Click submit Hope this helps!