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

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

ST ILLUSTRATION: MANNY FRANCISCO
New: Gift this subscriber-only story to your friends and family

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.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.

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. Subscribe