POSB everyday Card: The Only Credit Card I Have (At The Moment)

Here are the banking facilities that I have in my wallet everyday. There is the gray POSB Cash. It is almost unusable as there are cracks that run three quarters' way into the plastic. I do not intend to swap it for the new-ish looking DBS card because I am a sentimentalist.

I also have a United Overseas Bank Unicard. This is the newest ATM card I got, because I setup an account with UOB to help facilitate monthly salary crediting. I also use the UOB account as my daily expenses card.

A card that most Singaporeans do not have is the Malayan Banking (MayBank) card. This savings account goes back a long way and was setup when I was a kid, by my mother. One of the good or bad things is that you can withdraw cash when you are in Malaysia. If you happen to be in Genting Highlands, it can be a source of reserves should you happen to lose all the money at the tables.

The only credit card I have is the POSB everyday, which is a supplementary card courtesy of my mother. You can read more about what it has here, but what I want to say is that I am sort of proud that I have not succumb to peer pressure and apply for more cards. You may have received numerous calls by the banks touting their credit facilities, flashing "promotions" and how "you are invited" to tempt you into signing up for one more plastic.

I believe that credit cards have their use. There are discounts to be enjoyed or promotions to be had, if you have a card. For instance, my everyday card allows me a cheaper rate to a Golden Village cinema ticket. And since there is nothing much to do other than watch movies in Singapore, it is indeed cheaper and more relevant choice.

I am tempted to get a card with a Visa facility. Should I travel in the future (I hope it will be more and frequent), a credit card with Visa facility would allow me more flexibility when I travel abroad. I would not have to carry so much cash on my body and that would make me less vulnerable to robberies. Of course with a Visa card, I will be more vulnerable to expensive and ostentatious purchases.

Two such cards are really all you need. One more if you drive and wish to save on petrol. But when I read about how so many young people get mired in credit card debt, I always make a conscious effort not to get lured by those siren calls.

Which brings me back to my POSB everyday card. It really is not the most glamorous card on the market. The new design has the skyline of the Marina Bay area surely makes it look snazzier than the old one, but then again most people associate the card with shopping at Watsons. that is good enough for me. The lesser the glamor, the lesser chance I will flash it around, making it a tad better for my financial health.