Well...I've been working for a year plus and when I first started I applied for 2 S$500 credit cards from diff banks. Now that I finally meet the min income requirement, its time to decide if I should upgrade existing ones/ get a full card.
These are my points
1. 2 S$500 are really very manageable and help to keep my spending down. With int at 2% p.m. as long as I service my debt reasonably the interest will always be lower than the min payment. Well as a credit analyst and business student, one understands that a little bit of debt is not a bad thing... As long as its manageable. Optimal debt-to-equity ratio u know?
2. If I get a full cc, I will have much more spending power but that will req me to exercise superb self control cos I will have to pay whatever I swipe! That means no random packages from ASOS. :(
3. I can't go on with my 500 buck cards cos its not v fair to karl who has to always use his cards or to my friends who always have to pay with their cards too.
So that's my dilemma. Bankers help?
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