Can apply for Credit card?
- Thread starter XXX Boy
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Is it? To how much le? :think:
Fast fast application approve wan got HSBC and Citibank.
Citibank can even collect within 24 hours upon approval.
Well, CC means road to debt or not is very much depends on the holder, like me, I got cash but used CC to pay, why ?
1. Earn points
2. Pay next month
3. Emergency money, not cash when needed
However, first time owner, usually will have the mindset tht you got more spending power, actually is no. Always remember tht, always spend within your means.
Just my 2 cents.
Citibank can even collect within 24 hours upon approval.
Well, CC means road to debt or not is very much depends on the holder, like me, I got cash but used CC to pay, why ?
1. Earn points
2. Pay next month
3. Emergency money, not cash when needed
However, first time owner, usually will have the mindset tht you got more spending power, actually is no. Always remember tht, always spend within your means.
Just my 2 cents.
I also heard tht news, of coz your spending limit is lower.
Of course can lah, but whether they give u is another question. But remember, never use the credit. :nono:
I used CC ever since I graduated 6yrs ago, but only as a convenient means of payment. Because I only use CC to pay for what I would buy if I only had cash. CC have rewards points that u can accumulate and exchange for freebies :thumbsup: . Don't chalk up your debts, because the banks are the legal loansharks!!! :thumbsd: They charge like 24% interest per year, and they give u miserable 0.5-2% interest for your deposits, depending on type.
So make sure u settle your debts in FULL when the bill comes at the end of the month. Don't buy beyond your means simply because u have credit. Don't spend future money.
scud
Senior Member
cc is convenient when ones need it most.
but at times i find it quite hard to understand and justify why we need to pay the annual fee.
if your company has corporate card, then by all means apply one. it will save u all the annual fees and yet still eligible for all the promotions / rewards points / etc.
but at times i find it quite hard to understand and justify why we need to pay the annual fee.
if your company has corporate card, then by all means apply one. it will save u all the annual fees and yet still eligible for all the promotions / rewards points / etc.
compro_1975
Senior Member
can.... go my debit card thread and you will find the answer, btw TS, i suggest you really work out to every cent when the pay is like 2.3k... there is a number in this group, sweeping too much and later..... of you want, there are also great advise one both credit and debit cards at my thread.
Debit card need at least 1.6K per mth then can apply rite???
hmm..
using UOB R card debit...
http://www.uob.com.sg/pages/personal/cards/debit/uobvisaclassic.html
from the link, for R Gold card,
A minimum annual income of S$18,000 (your income tax assessment or latest computerised pay-slip is required).. which comes to 1500 per month mah...
not sure abt others..
compro_1975
Senior Member
no la, i no income also now shua ka liao.... as long as the acc got money can liao, since that is the main thing that make the globe turn.... i am using TX debit card.... meeting your needs is the most impt factor
the mac 13
Senior Member
When and if you get a CC, and over spend, don't blame the cashier when the system rejects the card, claiming it's the cashier's fault or system error.:angry: :angry: :angry: :angry:
wait for 2 months of cpf, then go to road show, fill up the form, then print out your 2 months cpf and fax them. best is when u include bonus or 13mth, coz your cpf doesn't show that u having bonus
not all banks accept but should be ok
dun kena newbie officer can liao
I like your sense of humour. :bsmilie: :bsmilie:
You will now qualify to apply for unsecured credit facilities with banks if you earn at least S$20,000 a year.
The Monetary Authority of Singapore (MAS) and the Law Ministry (MinLaw) have decided to relax the rules on such facilities.
Previously, applicants had to earn at least S$30,000 per annum.
Unsecured credit refers to things like overdraft facilities where people pay interest from the time they draw down on the sum.
The latest rules do not apply to credit cards, which still require a minimum income of S$30,000 a year.
There will also be a more conservative maximum credit limit.
Those earning between S$20,000 and S$30,000 a year can only borrow up to twice their monthly income.
But if they earn at least S$30,000 a year, they can borrow up to four times their monthly pay.
There will also be changes to the moneylenders regime.
For instance, for unsecured loans of S$3,000 and below, there will be no minimum income requirement but such loans will be subjected to an interest rate cap.
To mitigate the risks of over-borrowing by individuals from all income groups, MAS and MinLaw will require financial institutions and moneylenders to conduct adequate and relevant checks on borrowers before lending.
MAS and MinLaw will make the relevant legislative changes to the Unsecured Credit Regulations and the Moneylenders Rules by the middle of the year.
The new rules are expected to level the playing field among banks which are regulated by MAS, and lending by other businesses.
Banks have welcomed the move.
Citibank says it will be assessing this new area of opportunity in greater detail to serve the needs of these consumers.
This group of customers is estimated to number between 450,000 and 500,000.
OCBC says the changes will give borrowers more options and open up opportunities for a group of individuals who previously had limited access to unsecured facilities
The Monetary Authority of Singapore (MAS) and the Law Ministry (MinLaw) have decided to relax the rules on such facilities.
Previously, applicants had to earn at least S$30,000 per annum.
Unsecured credit refers to things like overdraft facilities where people pay interest from the time they draw down on the sum.
The latest rules do not apply to credit cards, which still require a minimum income of S$30,000 a year.
There will also be a more conservative maximum credit limit.
Those earning between S$20,000 and S$30,000 a year can only borrow up to twice their monthly income.
But if they earn at least S$30,000 a year, they can borrow up to four times their monthly pay.
There will also be changes to the moneylenders regime.
For instance, for unsecured loans of S$3,000 and below, there will be no minimum income requirement but such loans will be subjected to an interest rate cap.
To mitigate the risks of over-borrowing by individuals from all income groups, MAS and MinLaw will require financial institutions and moneylenders to conduct adequate and relevant checks on borrowers before lending.
MAS and MinLaw will make the relevant legislative changes to the Unsecured Credit Regulations and the Moneylenders Rules by the middle of the year.
The new rules are expected to level the playing field among banks which are regulated by MAS, and lending by other businesses.
Banks have welcomed the move.
Citibank says it will be assessing this new area of opportunity in greater detail to serve the needs of these consumers.
This group of customers is estimated to number between 450,000 and 500,000.
OCBC says the changes will give borrowers more options and open up opportunities for a group of individuals who previously had limited access to unsecured facilities
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