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My hand was itchy. I took a picture of all my credit cards… because I know I gonna say goodbye to them. I’ve gotten them mostly out of curosity, to understand the meaning of credit, and what happen that lead to credit market balloon burst.

 
These cards do help in one way or another, with their usage written beside them. Besides some of the shopping or dining, I basically have no uses for them. Oh, maybe just some internet expenses. If you know how to use them wisely, you could save some money, but that is if you fully understand the risks, why there are discounts by merchants and why they can afford to give discounts.

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I got my first credit card when I just turned 23. To qualify for a credit card in Singapore, you’ll need an annual income of at least SGD30,000, or USD20550. I got hold of my first card from Citibank, with the Clear Platinum Visa and the Citibank MasterCard. Then I got the savings account which is a blue debit card right at the top. That is where I had save almost $9500+ by now.

Then I took other offers with promotions by getting the OUB One card, and subsequently the full suite of DBS / POSB credits cards… which right now, I don’t the need to have them, hence the photo taking.

 
Anyway, I feel that credit cards discounts are one avenue for merchants to advertise. For example, the “FINE” dining discounts offered by my American Express DBS Black card, includes a list of merchants that I’ve never really seen or heard before. Maybe their price are just too expensive, their location inaccessible, or they simply got not much of business.

 
In my next post I’ll talk about my strategies in handling credit cards.

 
Open for feedback !