19 March 2014

Finally Applied for My First Credit Card: POSB Everyday Card

After such a long time in the workforce, I finally have strong enough reasons to get myself a credit card, I didn't apply for one earlier because I was not sure whether I could control my spending. I have seen my friends overspend or spend on unnecessary items, but right now, I am ready to be responsible for one, and I think I've read enough articles about people with varying levels of credit card debts to fully understand the risks of spending "future money", but I know I will be fine as long as I spend within my limit, not the credit card limit but my personal spending limit, which is the amount after considering expenses and savings, and also to make sure I repay the amount in full before the due date.

So with my flat coming soon, I expect myself to spend a large amount money on furniture, appliances and etc, it would be really stupid to bring along cash for whatever I need to buy, seriously I am really afraid of dropping the money or losing it due to theft or robbery, that day when I brought along $5000 cash to pay for the option and exercise fee, you have no idea how worried I was, that is my hard-earned money, I would hate myself if I lose it.

So anyway I choose POSB because I have a POSB bank account, been with them since I was 11 or 12 years old, and their Everyday card seems to be very useful, the best part is the 5% Sheng Siong rebate (up to $1000 monthly), me and wife like to shop at Sheng Siong, and there is one outlet about 10 minutes walk from our future home. And also I can charge Starhub and utilities bill for rebates, and I can earn points to offset future purchases or even offset my credit card bills, so if I spend more, I save more, sounds like a great deal right.

3 comments:

Anonymous said...

There are better cards that offer better rebates than POSB, you should check out the other banks. POSB is one of the lousiest bank in terms of benefits.

Anonymous said...

There are better cards that offer better rebates than POSB, you should check out the other banks. POSB is one of the lousiest bank in terms of benefits.

marrythaigirlsingapore said...

Hey thanks for the tip, will check it.