My 5 Digit Credit Card Limit

Posted by Kris | Saturday, December 08, 2012 | , | 4 comments »

I just got my shock of my life. The new credit card that I applied has a huge 5 DIGIT limit credit line. And the MSB (Most Significant Bit is not a "1").

P.S to my boss: I think my salary is not high enough to warrant such high credit card limit. So don't please be mislead. I still need that salary raise next year :D

The credit card company has been so generous to offer such credit facilities to me even though I have a high borrowing aka "debt" to various banks. Almost every week , I been receiving cold calls to get supplementary cards, credit transfer, personal loan and etc. The banks have been super aggressive.

A credit card can be a two edge sword; With a possible worst case ~17% per annum interest rate charges, this is the fastest way to dig your financial grave if you cannot control your spending habits and itchy hands. A lot of young people became bankrupt because of un-controllable credit card spending urges.

But it can be used to get huge amount of cash at an instant at the moment you most need it especially during investment opportunities.

Or I can just swap for a new car


  1. ChampDog // 9:22 PM  

    Hahaha good la! Spending is very fun one and can get addicted also once you start! :)

    Btw, next year doesn't seem a good year for raise, expecting will be low.

  2. Kris // 12:04 AM  

    Yeah. I think next year's economic outlook is not very bright. And with the unpredictable election year, it is kinda bleak.

    Hey, at least it is not the end of the

  3. LCF on Personal Finance // 6:00 PM  

    Eh Kris, when wanan chia jiak? :P

  4. Kris // 6:23 PM  

    Credit card limit ler..not salary increase T.T