Friday, September 17, 2010

Credit card dilemma

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?
Sent from my BlackBerry Wireless Handheld
Powered by Gee! from StarHub

No comments: