any advise which shall i cut?

[GenerationX]

Reaching 35 soon and can apply for hdb as single liao.. But i heard if got cc will have difficulty to apply loan is it? Any advise which to cut? I applied without thinking after i got 2.5k salary. now i regret. so many i never even use before... BOC card nothing much worth to keep right?

I have

Citibank SMRT - for ezlink and singtel bill nia
Maybank Family and Frenz - no touch liao
CIMB Visa sig - i think free for life(no use)
CIMB platinium - i think free for life (no use)
BOC Shop! Card -(no use)
BOC Travel Card-(no use)
BOC World MasterCard -(no use)
BOC Family Rebate Card-(no use)
SC Manhatten Card - used for buy thing.
SC visa platinium - no use
HSBC Revolution - no use
OCBC 365 - no use

I think thats about all..

My expenses are low and i no need pay for house. Only give parents monthly allowances and im planning to move out after i got my house (dun think will get soon)

Can anybody tell me which are worthless and can cut de? Or these can still keep just in case?

 

[Perisher]

You should post these in the credit card sub forum.

 

[doody_]

Number of credit cards has no link to loans, unless you haven't been paying your bills on time. The credit report scores you based on how timely you repay your loans. You can cancel them if you don't want them, but don't imagine that it has any impact on your loan.

 

[naro]

They will look at the mininum sum payment from all ur credit cards and sum them all together. This will be part of the TDSR calculation.

Just refinanced my housing loan and this was the loans officer.

 

[naro]

Anyway, if no use, cancel and cut. No point keeping.

 

[blurpandasg2014]

Reaching 35 soon and can apply for hdb as single liao.. But i heard if got cc will have difficulty to apply loan is it? Any advise which to cut? I applied without thinking after i got 2.5k salary. now i regret. so many i never even use before... BOC card nothing much worth to keep right?

I have

Citibank SMRT - for ezlink and singtel bill nia
Maybank Family and Frenz - no touch liao
CIMB Visa sig - i think free for life(no use)
CIMB platinium - i think free for life (no use)
BOC Shop! Card -(no use)
BOC Travel Card-(no use)
BOC World MasterCard -(no use)
BOC Family Rebate Card-(no use)
SC Manhatten Card - used for buy thing.
SC visa platinium - no use
HSBC Revolution - no use
OCBC 365 - no use

I think thats about all..

My expenses are low and i no need pay for house. Only give parents monthly allowances and im planning to move out after i got my house (dun think will get soon)

Can anybody tell me which are worthless and can cut de? Or these can still keep just in case?

LOL!!! So many Cards

SMRT card can use to buy groceries .
HSBC Revo use for Ez Link
All other spend put to CIMB Plat (0.5% rebate no limit and immediately rebate in next bill), Especially for Home appliances and Insurance first premiums (3.3% back capped at $50)

The rest can cancel

 

[GenerationX]

thank u all for the advises

 

[winedz]

Citibank SMRT - for ezlink and singtel bill nia
Maybank Family and Frenz - no touch liao
CIMB Visa sig - i think free for life(no use)
CIMB platinium - i think free for life (no use)
BOC Shop! Card -(no use)
BOC Travel Card-(no use)
BOC World MasterCard -(no use)
BOC Family Rebate Card-(no use)
SC Manhatten Card - used for buy thing.
SC visa platinium - no use
HSBC Revolution - no use
OCBC 365 - no use

BOC Shop! for everything, combine with those fevo+imagine card
- up to 13% rebate on mrt/bus rides
- 5-6% rebate on everything else
the rest can cancel

keep the 2 free for life card (CIMB for your case) for UOB one account proxy GIRO if you don't have any other things to GIRO, else can cancel also

 

[henrylbh]

My cc monthly average for the 6 months to Jun is slightly above $1k and I got only 1 cc. Another standby cc hardly used for years.

 

[hwarzoner]

number of cc doesn't affect loan, unless u own them money many many

 

[GenerationX]

ok thanks for all the advises. Actually another reason is UOB suddenly chut pattern want me to pay for annual fee. I dun want all the cards gena so better cut since im not using lo...

 

[goldsilvercity]

number of cc doesn't affect loan, unless u own them money many many

Im referring to private bank's loan assessment, NOT HDB's loan.

Actually, if u had use any of the credit card for credit facility (such as taking cash loan from it due to promotion interest rate), cut the card.
It does affect the amount you can borrow for your property loan.
Even if you have been paying regularly with no problem.

2ndly, for all other cards that you use and has not borrowed money, yes it does NOT affect the loan you can borrow, but for every card you used in the past 3 month, you need to give the bank the credit card statements of the past 3 mths.
EVEN those you just cut recently. Meaning you used this card 3mths ago, but cut it recently, and u borrowing property loan now, they will ask you for this card's past 3 mths credit statement. If you had cut and did not receive the past month statement, need to send bank statement to prove you had cancelled it.
As you can probably guessed, the amount of paperwork is huge...
First time i did it, it was a pain in the ass..... When it did not go through for other reasons, I refrained from using my other non-popular cards, so when I applied again later, it was a breeze with so much lesser paperworks.

As long as you do not use any of these cards for the past 3 mths (even if you had not cancelled the card), then the bank loan would not require credit card statements of that card from you....

 

[Perisher]

EVEN those you just cut recently. Meaning you used this card 3mths ago, but cut it recently, and u borrowing property loan now, they will ask you for this card's past 3 mths credit statement. If you had cut and did not receive the past month statement, need to send bank statement to prove you had cancelled it.
As you can probably guessed, the amount of paperwork is huge...
First time i did it, it was a pain in the ass..... When it did not go through for other reasons, I refrained from using my other non-popular cards, so when I applied again later, it was a breeze with so much lesser paperworks.

Nice to note this.

 

[goldsilvercity]

http://forums.hardwarezone.com.sg/homeseekers-homemakers-74/

There is a wealth of information in the subforum above.
This is why i love forums... lots of useful info and great to learn from seniors and people with experience.

 

[GenerationX]

From part 2, apply what again? U mean cc or loan?

Im referring to private bank's loan assessment, NOT HDB's loan.

Actually, if u had use any of the credit card for credit facility (such as taking cash loan from it due to promotion interest rate), cut the card.
It does affect the amount you can borrow for your property loan.
Even if you have been paying regularly with no problem.

2ndly, for all other cards that you use and has not borrowed money, yes it does NOT affect the loan you can borrow, but for every card you used in the past 3 month, you need to give the bank the credit card statements of the past 3 mths.
EVEN those you just cut recently. Meaning you used this card 3mths ago, but cut it recently, and u borrowing property loan now, they will ask you for this card's past 3 mths credit statement. If you had cut and did not receive the past month statement, need to send bank statement to prove you had cancelled it.
As you can probably guessed, the amount of paperwork is huge...
First time i did it, it was a pain in the ass..... When it did not go through for other reasons, I refrained from using my other non-popular cards, so when I applied again later, it was a breeze with so much lesser paperworks.

As long as you do not use any of these cards for the past 3 mths (even if you had not cancelled the card), then the bank loan would not require credit card statements of that card from you....