9 credit card mistakes millennials make, and how to avoid them

ST ILLUSTRATION: MANNY FRANCISCO

Suggestions include setting a budget and sticking to it, as well as avoiding late payments

Applying for a credit card is one of the key rites of passage for young people on their journey to adulthood, and never more so than in Singapore, it seems.

It was not that long ago that a card was considered one of the coveted five Cs that a successful Singaporean should own. For those out of the loop, the other ones are car, condo, club membership and lashings of cash. Much has changed since, and credit cards are now a common mainstay in most wallets.

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A version of this article appeared in the print edition of The Sunday Times on July 21, 2019, with the headline '9 credit card mistakes millennials make, and how to avoid them'. Print Edition | Subscribe